The County supported 6,367 affordable housing units through financing to establish long-term affordability, rental assistance to maintain affordability, support for home purchasing and maintenance and MPDU (moderately priced dwelling units) requirements.
“I am pleased that the County’s Department of Housing and Community Affairs helped preserve and produce affordable housing units for residents of all ages and abilities,” said County Executive Marc Elrich. “We have used a variety of effective strategies to help residents of low and moderate income afford a home. Affordable housing continues to be on the top of my priority list and it is critical that we continue to leverage County resources to preserve, maintain and expand our affordable housing stock. I look forward to continuing this important effort.”
A breakdown of FY20 affordable housing preservation and production includes:
- Low or no-interest loans: The County committed $34,461,788 in low- or no-interest loans from the Housing Initiative Fund (HIF) to preserve 329 units and produce 202 units of long-term affordable rental housing for individuals, families, seniors and persons with special needs.
- Rental assistance: The County committed $20,358,930 in rental assistance for 5,325 affordable housing units. This included rental assistance for persons with very low income, persons with special needs and persons exiting homelessness.
- Homeownership assistance:
- The County provided $2,976,268 in down payment assistance to 190 first-time homebuyers with modest incomes.
- The County provided $1,077,401 in grants for weatherization to 242 homeowners with low to modest incomes to preserve utility affordability.
- Moderately priced dwelling units (MPDU's): In new housing developments, 79 MPDUs were produced according to County requirements, without commitment of County funds.