Grant: $31,701,696 - Department of Housing and Urban Development - Jul. 7, 2009
0% voted satisfied - 100% voted not satisfied - 1 vote(s) cast
Award Description: The Maryland Department of Housing and Community Development is the prime recipient of formula grant funding through the Tax Credit Assistance Program (TCAP), authorized under the HOME subtitle of the American Recovery and Reinvestment Act of 2009. Through TCAP, Maryland DHCD will allocate $31,701,696 of funding to multifamily rental housing projects in the form of gap loan financing. All projects financed with TCAP funds will have received an award of Low Income Housing Tax Credits by September 30, 2009. TCAP funds will be administered in consistency with Federal rules and Maryland DHCD's TCAP plan as approved by the U.S. Department of Housing and Urban Development. TCAP funding will result in the production of affordable rental housing for families and seniors, as well as the creation of a significant number of jobs and economic activity.
Project Description: Maryland DHCD has reserved all TCAP funds to eligible multifamily rental housing projects. A listing of 26 projects receiving a reservation of TCAP funds or on the wait list for TCAP funds is posted to the Maryland DHCD website at http://www.dhcd.state.md.us/Website/programs/tcap/tcap.aspx. Projects are expected to begin construction and TCAP funding disbursement after October 1, 2009.
Jobs Summary: none created yet (Total jobs reported: 0)
Project Status: Less Than 50% Completed
This award's data was last updated on Jul. 7, 2009. Help expand these official descriptions using the wiki below.