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The Maine State Housing Authority, known as MaineHousing, announced Tuesday it has allocated more than $30 million for nine affordable housing developments across the state.
The investment consists of $26.2 million in state and federal tax credits that will generate close to $70 million in equity from private investors, plus a $4.2 million subsidy, to build or renovate the developments.
MaineHousing said the funding will create or preserve 430 housing units, of which 388 will serve households at or below 60% of the area s median income.
Out of 15 proposals seeking nearly $12.6 million in federal funding, the Augusta-based agency selected nine developments for funding.
Projects include Szanton Co. s apartment project in downtown Bath, to provide 42 units affordable units for older adults, and new construction of 45 units of public housing in Maine s most populous city by the Portland Housing Authority. (See the full list below.)
Funding will support construction, rehab of affordable, permanent supportive housing units
Published Tuesday, Mar. 2, 2021, 12:01 pm
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Front Page » Government/Politics » Politics2 » Funding will support construction, rehab of affordable, permanent supportive housing units
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Gov. Ralph Northam announced Monday more than $24 million in Affordable and Special Needs Housing loans for 28 projects across the Commonwealth, creating or preserving 1,635 affordable housing units for low-income Virginians.
The funding will help increase access to affordable housing, reduce homelessness, and provide permanent supportive housing options for individuals with intellectual and developmental disabilities.
Governor Northam Announces Over $24 Million in Affordable and Special Needs Housing Loans
Posted by Staff | Mar 2, 2021 | News | |
RICHMOND Governor Ralph Northam today announced more than $24 million in Affordable and Special Needs Housing loans for 28 projects across the Commonwealth, creating or preserving 1,635 affordable housing units for low-income Virginians. The funding will help increase access to affordable housing, reduce homelessness, and provide permanent supportive housing options for individuals with intellectual and developmental disabilities.
“As the COVID-19 pandemic continues to create housing challenges in our Commonwealth and across the country, we are pleased to deploy this funding to support Virginians who are most in need,” said Governor Northam. “The Affordable Special Needs Housing program is a valuable resource for increasing the availability of safe, affordable, and sustainable housing for low-income Virginians, particularly those with spec
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