Delaware Housing Development Fund
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The National Low Income Housing Coalition is providing this data as a public service. NLIHC will continue to update the database. The accuracy of the data is based on information provided by the programs' administrators and user submissions.
Delaware State Housing Authority's (DHSA's) Housing Development Fund (HDF), Delaware's housing trust fund, was created in 1986 for the purpose of providing affordable, decent, safe, and sanitary housing to very low, low, and moderate income households. Loan financing from the HDF is available to nonprofit and for-profit developers interested in providing affordable, multi-family rental housing and/or special populations housing in conjunction with the federal Low Income Housing Tax Credits (LIHTC). The HDF loan program provides the gap financing that is needed to fully utilize the small state minimum LIHTC allocation that Delaware receives annually. Developers of LIHTC projects may apply to DHSA for up to $45,000 per units in soft financing, or $2.75 million, whichever is less. In FY13, 325 rental units in five projects were supported.
The program is funded through state appropriations. Annually, Delaware appropriates approximately $4 million to the HDF program. In 2013, DSHA set aside $1.5 million in funding for the HDF Loan program. DSHA also set aside $1 million for Homeownership Production grants, $500,000 for Housing Support grants and $500,000 for Energy/Accessibility grants. Other funding sources include document recording fees, and loan principal and interest repayments. These additional sources totaled $6.6 million in FY13.
Contact: Penny A. Pierson, Delaware State Housing Authority, 302-739-0246, [email protected]