Anne Arundel County Affordable Housing Developments Receive Federal Tax Credit Assistance Program Funding
Loans provided through the American Recovery and Reinvestment Act (ARRA) -158 senior units and more than 100 jobs will be created
CROWNSVILLE, MD (December 30, 2009) – Maryland Department of Housing and Community Development (DHCD) Secretary Raymond A. Skinner has announced today that two affordable senior rental housing projects in Anne Arundel County will receive funding through the U.S. Department of Housing and Urban Development’s (HUD) Tax Credit Assistance Program (TCAP). Park View at Severna Park will provide 103 units of affordable senior housing in Severna Park, and Hammarlee House will provide 55 units of affordable senior housing in Glen Burnie, addressing a critical need for affordable housing in a county impacted by the U.S. Military’s Base Realignment And Closure (BRAC) activities in Maryland.
"These projects will expand affordable housing options for Anne Arundel County seniors and create important construction jobs," said Secretary Skinner. "Maryland’s partnership with HUD through the Tax Credit Assistance Program was critical to the success of these developments, and we will strengthen this partnership through our efficient and transparent management of federal resources."
Funded through American Recovery and Reinvestment Act of 2009 (ARRA), HUD's Tax Credit Assistance Program (TCAP) allows state housing finance agencies like DHCD to resume funding affordable rental housing projects while stimulating job creation in the hard-hit construction industry. TCAP provides grant funding for capital investment in Low Income Housing Tax Credit (LIHTC) projects through a formula-based allocation to DHCD.
Both projects also received funding through the Multifamily Energy Efficiency and Housing Affordability Program (MEEHA) which provides grants for energy audits and the purchase and installation of equipment and materials for energy efficiency and renewable energy measures in affordable multifamily rental housing. The program is an ongoing partnership between the Department of Housing and Community Development and the Maryland Energy Administration (MEA) and is part of Governor Martin O’Malley’s EmPOWER Maryland initiative, which aims to reduce the state’s energy consumption by 15 percent by 2015.
"The Maryland Energy Administration is pleased to see our partnership with DHCD expand to help seniors in Anne Arundel County with much needed energy efficiency improvements to their homes," commented MEA Director Malcolm Woolf. "The audits and equipment available through the MEEHA program will not only benefit these residents, but also Marylanders across the State, as we work together to meet Governor O’Malley’s EmPOWER Maryland goal and vision for a Smart, Green and Growing State."
Park View at Severna Park will feature the new construction of 103 affordable senior units in a four-story apartment building. Its amenities will include a multipurpose community room, computer/educational room, exercise room, wellness/medical consultation room, laundry facilities, salon, porches, a gazebo, and picnic/outdoor recreational facilities. The units will be available for households with at least one resident being 62 years or older with incomes at or below 60% of Area Median Income (AMI) or $17,250 to $44,340 depending on household size. The project is estimated to create 66 construction jobs.
DHCD provided $2,000,000 through TCAP and $102,365 through MEEHA. DHCD assistance also included $1,142,341 in Low Income Housing Tax Credits, which raised $7,995,587 in private equity. Additional financing includes a FHA-insured first mortgage from Wells-Fargo Bank for $4,250,000, a $1,200,000 HOME Loan from Arundel Community Development Services, Inc.
The developers and owners of the project are Shelter Development, LLC and Partners in Care, Inc., a local not-for-profit corporation which will provide resident services. The property will be professionally managed by Shelter Properties, LLC. The general contractor is Hamel Builders Inc.
Hammarlee House involves the new construction of a senior residential community in Glen Burnie, featuring 55 units in a three-story apartment building. The units will be available for households with at least one resident being 62 years or older with incomes at or below 60% of AMI or $19,700 to $39,420 for a 2-person household. The project is estimated to create 45 construction jobs.
DHCD provided $2,700,000 through TCAP and a $137,500 Grant through MEEHA. DHCD also provided $816,301 in Low Income Housing Tax Credits, which raised $5,713,535 in private equity. Additional financing includes a first mortgage from Bank of America for $1,775,000 and a $400,000 HOME Loan from Arundel Community Development Services, Inc.,
The developers and owners of the project are Rellim Development, LLC and Stavrou Associates, Inc. The property will be professionally managed by HAI Management, Inc. d/b/a Humphrey Management. The general contractor is Hamel Builders Inc.
Park View at Severna Park and Hammarlee House are just some of the ARRA-funded projects DHCD has undertaken that incorporate Smart, Green & Growing components. Smart, Green & Growing is a multi-agency, statewide initiative launched by Governor Martin O’Malley to help Maryland achieve a more sustainable future by linking community revitalization, transportation improvements, economic development, smart growth and environmental restoration efforts. For more information, please log on to: http://www.green.maryland.gov.
The Maryland Department of Housing and Community Development works with partners to finance housing opportunities and revitalize great places for Maryland citizens to live, work and prosper. To learn more about DHCD’s affordable rental housing programs, visit www.mdhousing.org.
News updates also are available by following DHCD on Twitter (www.twitter.com/MDHousing) and Facebook (www.facebook.com/marylandhousing).
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