Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Instagram Outage Disrupts Thousands of U.S. Users 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Today the District of Columbia Housing Finance Agency (DCHFA) takes its multifamily financing process completely online with the launch of the new Multi-Family Lending Application. “We developed this application to make it easier for developers to do business with the Agency to increase the production of affordable housing in the District of Columbia,” stated Todd A. Lee, Executive Director of DCHFA, “This is the first in a series of innovations in affordable housing finance that the Agency will deliver over the next 12 months. The goal of these innovations is to support the creation and preservation of even more housing in the District.” DCHFA created the Multi-Family Lending Application to streamline the borrowing process, reduce the burden of physical submission and expedite the analysis for funding development projects. The application will accommodate requests for both tax exempt bonds (four percent low income housing tax credit) and McKinney Act Loans.
|
||||||
In Fiscal Year 2016, DCHFA issued $294,735,000 in bond financing for the creation and preservation of 2,090 affordable housing units in Wards 1, 2, 4,5,6,7 and 8 of the District. In addition to the tax exempt financing, DCHFA underwrote $188,982,442 in four percent low income housing tax credit equity to finance in these projects.
Through its Multifamily Lending and Neighborhood Investment division, DCHFA issues tax-exempt mortgage revenue bonds to finance the costs of acquiring, constructing and rehabilitating rental housing. The Agency offers private for-profit and non-profit developers low cost predevelopment, construction and permanent financing that supports the new construction, acquisition, and rehabilitation of affordable rental housing in the District.
The District of Columbia Housing Finance Agency was established in 1979 to stimulate and expand homeownership and rental housing opportunities in Washington, D.C. We accomplish our mission by offering below market rate mortgage loans to lower the homebuyers’ costs of purchasing homes and by issuing mortgage revenue bonds to lower the developers’ costs of acquiring, constructing and rehabilitating rental housing.
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4a4e4250-fed1-4ff6-8735-e826914c030d
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/057ca2a2-c869-487d-8079-8ec4140dd30f
Yolanda McCutchen DC Housing Finance Agency 202-777-1650 [email protected]
