Affordable Housing and Tax Credit Developments in DelawareApril Council on Housing (COH) Public Session

April 15, 2011by George Danneman

The monthly Council on Housing (COH) meeting was held yesterday at the Buena Vista Conference Center in New Castle, Delaware (agenda)

During the Delaware State Housing Authority (DSHA) Report, Mr. Ben Addi noted that the Delaware State Housing Authority (DSHA) anticipates 13-17 applications for affordable housing developments for 2011 Low Income Housing Tax Credits (LIHTC). They are aiming to announce ranking of applications in June.

The Loan Review Committee recommended the following Housing Development Fund (HDF) requests:

West End Neighborhood House, Inc. (WENH) request for $63,023 for its Statewide Security Deposit Program: After some discussion on the sources and uses of funds, the request was approved by the Council on Housing (COH).

Milford Housing Development Corporation (MHDC) request for $70,000 for construction of one duplex consisting of 2 units in Milford, Delaware: After some discussion over the fact that the appraisal value was lower than the total mortgage debt on the property, the Council on Housing (COH) approved the request with Mr. White abstaining.

Diamond State CLT, Inc. (DSCLT) request for $319,984 for acquisition and rehabilitation of 16 Neighborhood Stabilization Program (NSP) homes: This is a Buyer Initiated Homeownership Program (BIHP), where the buyer is pre-screened for eligibility and chooses the home. The request was approved by the Council on Housing (COH).

Click here for final rankings of Housing Development Fund (HDF) application submissions.

The Council on Housing (COH) approved Resolution 424 in honor of Mr. John Walker who concluded his term as a member of the Council on Housing (COH) as of March 23, 2011.

The next meeting is scheduled for Wednesday, May 11, 2011, at 1:00 p.m. at Liberty Court Community Building, Dover, Delaware.

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