2016 Legislative Agenda
MAHC strongly supports increased funding for Rental Housing Works and encourages the legislature to fully fund the State's other rental housing programs. Together, these programs provide valuable financing tools for increasing the affordable housing supply across the State.
Rental Housing Works (RHW) --$25 million
RHW was implemented four years ago to create jobs and stimulate investment in Maryland. An outstanding success, this State loan program has enjoyed strong bipartisan support, receiving over $82 million in capital funds to date. All of these funds have been awarded to completed projects or are earmarked for projects in process. Thirty-six properties totaling $67 million are already completed or are finishing construction. Another 14 applications totaling $30 million are in process and waiting approval, which exceeds the current available funding by $16 million. In addition, we have identified at least another $28 million in new project applications that are in pre-development and are expected to be submitted this year, showing a combined unmet needs of $44 million. The results of RHW have been exceptional, and demand clearly exceeds the need for at least $25 million in additional funds.
Full funding of the other DHCD rental housing programs
The Governor has proposed a total budget for other rental housing programs administered by DHCD totaling over $38 million. This includes level funding of $15.5 million in state rental housing funds and $6.5 million for the Partnership Program, a slight increase. Much of the state funding comes from the repayment of previous loans and does not require new appropriations, with the balance coming from federal programs administered by DHCD.