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Martin O'Malley GOVERNOR Anthony G. Brown LT. GOVERNOR Raymond A. Skinner SECRETARY

Maryland Affordable Housing Coalition 2011 Annual Meeting DHCD Multifamily Rental Update January 7, 2011. Martin O'Malley GOVERNOR Anthony G. Brown LT. GOVERNOR Raymond A. Skinner SECRETARY Clarence J. Snuggs DEPUTY SECRETARY. CY 2010 Production – continued strong level of activity

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Martin O'Malley GOVERNOR Anthony G. Brown LT. GOVERNOR Raymond A. Skinner SECRETARY

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  1. Maryland Affordable Housing Coalition2011 Annual Meeting DHCD Multifamily Rental Update January 7, 2011 Martin O'Malley GOVERNOR Anthony G. Brown LT. GOVERNOR Raymond A. Skinner SECRETARY Clarence J. Snuggs DEPUTY SECRETARY

  2. CY 2010 Production – continued strong level of activity 28 projects 2,803 units – 15 family projects with 1,619 units; 13 elderly projects with 1,184 units Total value of $460 million In CY 2009 and CY 2010 (see map) a total of 57 projects with 5,061 units ARRA (i.e. 1602/TCAP) Update – in the homestretch!! 14 TCAP and 14 Section 1602 projects under construction or complete TCAP -- $28.4 mm of $31.7 mm fully expended (90% of total) Section 1602 -- $57.4 mm of $79.2 mm fully expended (72% of total) New Issue Bond Program (NIBP) 9 projects funded through 3 “escrow breaks” in 2010 Maryland is one of nation’s top producers through Multifamily NIBP All projects to date are preservation transactions, with a total of 1,158 units $47 mm of NIBP bonds + $36 million of traditional bonds used to date $43 mm of NIBP bonds remain + traditional bonds 3 more escrow breaks in 2011 Feb – 3 projects, 283 units, $15.2 mm bonds April – 3 projects, 302 units, $15.9 mm bonds Fall – 2 projects, 157 units, $12 mm bonds Applications still being accepted Multifamily Highlights 3

  3. Fall 2010 Round Completed Five (5) awards made from 25 applications. Projects with awards located in Baltimore City and Anne Arundel, Cecil, Harford, and Somerset Counties. New QAP and Guide and 2011 Competitive Funding Rounds April 12, 2011 and September 20, 2011 are upcoming deadlines for Rounds Energy Efficiency in Affordable Rental Housing 26 projects with over 2,806 units currently receiving energy efficiency retrofits via MEEHA Expect to be able to retrofit over 4,000 units via MEEHA Better Buildings program to launch very soon. MD-BRAC Preservation Loan Fund -- up and running Closed first acquisition loan in Montgomery County; 125 unit project Applications are being accepted County Market Studies completed On-line application system now fully operational send an email to rentalhousing@mdhousing.org if you need a user name and password. Where Are We Going in 2011 and Beyond…? Multifamily Highlights 4

  4. Maryland DHCD Multifamily Housing Questions? Patricia Rynn Sylvester John R. Maneval Director, Deputy Director, Multifamily Housing Multifamily Housingsylvester@mdhousing.orgmaneval@mdhousing.org 410-514-7481 410-514-7451 www.mdhousing.org 5

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