Milestones

First multifamily project completed (Rolling Green at Amherst).

Marine View, first multifamily project in Juneau completed. Adds 98 affordable units to the housing market.

CHFA issued its first bonds.

First multifamily project completed.

PHFA begins operations with a staff of eight and an initial focus on providing tax credits to support the construction of more affordable rental housing across the state.

Virginia Housing is created by the Commonwealth of Virginia as a not-for-profit housing finance agency.

First bond Issuance to finance single family lending.

First single-family project completed.

The North Carolina Housing Finance Agency is created by the state General Assembly.

THDA was signed into existence by Governor Winfield Dunn and the following year (1974) held its first bond sale of $32.9M.

SDHDA sold $27,015,000 of its 1974 Series A Single Family Housing Bonds to initiate the Single Family Homeownership Program.

Governor Thomas Salmon signed legislation creating Vermont Housing Finance Agency on April 11th.

DSHA began offering issuing tax-exempt revenue bonds.

WHEDA is the nation’s first HFA to successfully market long-term bonds used to finance Section 8 multifamily housing developments.

OHFA opens to serve families in Oklahoma.

Idaho Housing introduces the Single-Family Mortgage Loan Program with $35 million in bonds.

First multi-family tax-exempt bonds issued.

The Indiana Housing Finance Agency (IHFA) is formed with a focus on homeownership programs.

UHC issues its first multifamily bonds for $3.3M.

WCDA sold its first bond issue of $53,600,000. Prospective homebuyers throughout Wyoming camped outside banks and savings and loans holding their places in line in order to secure a WCDA loan commitment. By the end of 1980, WCDA had issued approximately $250,000,000 worth of mortgage revenue bonds. The total amount of Single Family Bonds issued is $5.6 billion.

CHFA hit $1 Billion in bonds.

First bond issue raises $75 million in mortgage revenue.

Florida Housing was created as a state agency under the Department of Community Affairs.

The Maryland Mortgage Program was established to help ensure Maryland citizens are able to purchase affordable housing. All home loan products available through MMP are 30-year, fixed-interest rate mortgages. There are a few different types of home loan products, and they generally vary by the kinds of downpayment and closing cost assistance that are available with them.

Expansion to include the Mortgage Revenue Bond Program; Now expanded and known as the OHFA Homebuyer Down Payment Assistance Program, more than $4 billion has been utilized to make homeownership possible.

THDA began the Housing Counseling Program to provide education on budgeting, housekeeping and home maintenance. The program later transformed into our Homebuyer Education Initiative and our network of counseling partners continues to provide Tennesseans with valuable knowledge of home ownership.

WHEDA issues first bonds for homeownership and single family housing rehabilitation loans.

North Dakota voters approved an initiated measure that creates North Dakota Housing Finance Agency. After operating under the Bank of North Dakota for two years, NDHFA becomes a stand-alone entity charged with administering federal affordable housing programs.

DCHFA financed its first affordable multifamily housing group of developments

Issued first mortgage revenue bonds (multifamily and single family).

First multifamily projects completed.

Federal tax legislation is enacted to expand tax-exempt financing for consumer mortgages, and PHFA launches single-family affordable home loan programs.

AHFA completes its first multifamily bond issue, financing 416 units at an approximate cost of $13 million.

IHFA finances its first nonsubsidized multifamily housing complex.

SDHDA created the Rental Housing Reinvestment Program in which 20% of the units in each multifamily development were made available to low income renters. This program did not provide any federal assistance. The local lending institutions made the loans to developers and in turn SDHDA purchased homeownership loans in amounts equal to the rental development loans from those institutions.

CHFA becomes the state allocator for the LIHTCs.

Created the Virginia Housing Fund with $45 million (the largest housing fund of its kind in the nation) to finance housing programs that cannot be funded by bond issues.

Low Income Housing Tax Credit Program established.

First LIHTC Award to City View Park, serving 503 families in Louisville.

Governor designates MBOH to administer Low-Income Housing Tax Credits.

10 projects, 564 units

The HUD Section 8 Rental Assistance Program began being administered by WCDA on a statewide basis starting with an allocation of 50 Certificates and growing to a total of 470 Certificates, Vouchers and Moderate Rehab units. In addition, WCDA worked with a local housing authority to develop 75 units of Low Rent Public Housing in Laramie, Wyoming. WCDA was chosen to administer Federal Low-Income Housing Tax Credits for the state beginning with $526,000 in Tax Credits and growing to a cumulative total of $337,009,341 in Low Income Housing Tax Credit allocations creating a total of 4,921 units of affordable rental housing.

Low Income Housing Tax Credit program is established. In recent years Oregon has awarded points for meaningful partnerships with culturally responsive service providers and created a 10% set-aside for tribal projects. This aims to support developments sponsored by tribal governments, tribally designated housing entities, or tribal corporate entities on tribal trust land.

VHFA established its first pilot program for down payment assistance for homebuyers.

AHFA creates the Down Payment Assistance Program to provide interest-free loans to families who earn less than the state’s median income. To date, the Step Up program has helped nearly 20,000 Alabamians purchase a home.

Idaho Housing begins loan servicing operations for its own single-family portfolio and becomes one of a few housing finance agencies authorized to underwrite HUD multifamily loan insurance.

IHFA begins multifamily financing through the Low Income Housing Tax Credit and HOME Investment Partnership Program.

First MRB Loan – To date: 21,468 homeowners assisted totaling $1,877,319,012 in financing assistance.

WCDA launched its mortgage loan servicing department. As a result of the consolidation of financial institutions and in an effort to keep WCDA loan servicing in the state, WCDA started servicing its own loans. The department grew from an initial staff of two persons to the current staff of 11 who services more than 15,000 loans.

AHFC develops the Habitat for Humanity Loan Purchase Program, the first of its kind in the nation, and dedicates $1 million to the project. To date, the program has purchased more than $29 million in loans from Habitat.

The Legislative Assembly merged the Housing Agency with the Community Services Division (from the Department of Human Resources) doubling the agency in size. It was renamed the Oregon Housing and Community Services Department

The Alaska state legislature changed the structure of public housing, rural loan, and energy programs by merging the Alaska State Housing Authority (ASHA) and the Department of Community and Regional Affairs (DCRA) into the state owned Alaska Housing Finance Corporation (AHFC). The merger made AHFC the only agency in the country with statewide responsibility for public housing. Today, AHFC’s public housing department is a move to work agency that manages 1,612 public housing units and 5,601 sponsor based rental assistance vouchers, providing a home where over 12,000 people sleep with assistance each night.

ADFA received its initial allocation of HOME Investment Partnerships Program

Kentucky’s Affordable Housing Trust Fund is created.

The Maryland Affordable Housing Trust was constituted in 1992 to enhance the availability of affordable housing throughout the State (Chapter 265, Acts of 1992). A public instrumentality of the State, the Trust may receive monies for investment in the Maryland Affordable Housing Trust Fund. From this Fund, the Trust may make awards to support acquisition, construction, rehabilitation, or preservation of affordable housing; efforts of nonprofit organizations to develop affordable housing; and operating expenses of housing developments with affordable housing.

Family Self-Sufficiency Program begins and is designed to help Housing Choice Voucher holders achieve goals and gain financial independence. Since then, 450 participants have completed the five-year program and 326 have purchased their own homes.

NDHFA creates the Helping Housing Across North Dakota (Helping HAND) program. A portion of the agency‚ net profit are awarded to county and tribal governments based on the poverty level of the population. Local governments administer the funds as they see fit to address their housing needs.

HomeChoice debuts putting focus on homebuyer education. Since then more than 60,000 Alaskans have taken the free class.

Continuous Funding for single-family mortgages launched. Prior to 1994, mortgage funding was periodically available, using a lottery system for borrowers.

Only housing finance agency in the country to be awarded a AA+ general obligation rating from Standard and Poor.

WHEDA is the first HFA to offer a 97% LTV mortgage with private mortgage insurance.

Idaho Housing issues its first Single-Family Mortgage bonds without sales tax backing.

SDHDA created the Governor Transitional Housing Program for the elderly which later became known as the Governor‚ House Program. The purpose of the program was to support a construction training program to enable inmates to build small homes available for sale to the elderly. The originally constructed homes were 672 sq. ft. and were sold for $15,900.

$225,000,000 (9 issues)

The agency’s Homeowners’ Emergency Mortgage Assistance Program has helped 23,000 Pennsylvania households with foreclosure prevention loans and become a national model for foreclosure prevention.

Idaho Housing celebrates 25 years of serving the state’s housing needs and is authorized as the state’s issuer of non-housing tax-exempt bonds to finance capital improvements for eligible nonprofits.

Took all housing programs from the state.

PHFA celebrates its 25th anniversary. The agency has 222 employees and surpasses $3 billion in home mortgage loans to Pennsylvania home buyers.

Established Housing Assistance for Teachers Program – To date: Assisted 440 teachers with downpayment assistance with a financing total of $43,901

NDHFA purchased 2,010 home loans, more than any other year in its history. The record is due, in part, to a Federal Disaster Declaration, after extensive flooding in Eastern North Dakota communities, allowed NDHFA to offer financing to borrowers up to 140 percent of Area Media Income and to waive the program‚ first-time homebuyer requirement.

DSHA granted HUD Projected-Based Contract Administrator.

IHFA changes its name to the Indiana Housing and Community Development Authority to acknowledge its expanded scope into community development work.During this time, the agency begins administering energy assistance, rental assistance, and homelessness programs.

CHFA received AAA/Aaa designation from ratings agencies for the first time and maintains that rating today.

The Farmworker Housing Development Account was established for the expansion of affordable, safe, and sanitary housing for very-low income farmworkers

UHC makes second mortgages available to all borrowers for down payments/closing costs.

WHEDA’s HouseKey Wisconsin becomes the first online mortgage application system in the HFA industry.

Awarded tax credits for tribal developments.

Online access to serviced loans is made available to UHC borrowers.

Generated funds internally to finance the SPARC (Sponsoring Partnerships and Revitalizing Communities) program to provide loans to low-income households, diverse cultures, minority populations and people with disabilities.

Included a Set Aside in the LIHTC program for one project to be built on trial lands each year to benefit many tribes in Arizona.

KHRC formed: Kansas Housing Resources Corporation became a self-supporting, nonprofit, public corporation.

Demonstration Disposition Program: MassHousing, on behalf of HUD, rehabilitates or rebuilds 11 troubled rental developments with 1850 units in Boston, in collaboration with resident groups.

With the state Department of Health and Human Services, NCHFA creates a targeting program and key rental assistance to provide integrated housing for people living with disabilities.

Teacher, Health Professional and Public Safety Officer grant program is used for the first time making 64 units available in Kotzebue, Savoonga, Togiak, Chefornak, Nightmute and Tuntutuliak. Since inception, 498 units have been built, improving housing quality and making recruitment and retention of targeted community professionals easier.

Idaho Housing celebrates its 50,000th mortgage loan and its 10,000th Finally Home! Homebuyer Education graduate.

MassHousing creates MIPlus mortgage insurance for home buyers, which comes with job loss protection at no additional cost.

NDHFA joins with the Montana Board of Housing and the Wyoming Community Development Authority to form the Mountain Plains Equity Group, Inc. The aim is to support the development of affordable multifamily housing in the rural communities throughout the tri-state area.

AHFA creates an in-house loan servicing department, later trade-named ServiSolutions and expanded to include other originators and HFA jurisdictions.

DCHFA issued more than $76 million in tax-exempt bonds to the DC Housing Authority to help rehabilitate and modernize 6,858 public housing units.

Hurricane Katrina makes landfall within 15 miles of New Orleans, Louisiana; within 24 hours, levee breaches flood over 80 percent of the city. The storm damages or destroys nearly 500,000 homes and apartments across Louisiana. It claims more than 1,500 lives and displaces an estimated 700,000 people. The disaster fundamentally alters Louisiana’s approach to affordable housing policy and disaster recovery. To this day, Hurricane Katrina remains the most expensive natural disaster in the United States.

Began Katrina Recovery Go Zone Tax Credits and MRB Program MRB Program 2213 Households; Renters Assistance 5,499 units.

Produced $1 billion in mortgages.

Following the devastation of Hurricanes Katrina and Rita, OHFA assisted 1,089 families who relocated with more than $3.1 million in rent, security deposits and utility payments. Since then, OHFA has assisted Oklahoma families directly affected by tornadoes, floods, and wildfires.

SDHDA issued a record number of bonds totaling over $300 million in short term and $537 million in long term bonds. We beat our previous record of $478 million in short term and long term bonds in 2000.

Created the Granting Freedom grant program, helping disabled veterans make their homes more accessible.

Prioritized funding to affordable housing programs within walking distance of public transportation. 2,000 units developed along the light rail in the Phoenix Metro area during the Great Recession.

Started Affordable Rental Housing Program.

Greensburg Tornado / Southeast Kansas Flooding: On May 4, 2007, the rural Kansas community of Greensburg was devastated by an EF5 tornado that leveled 95 percent of the city. Later that year, the southeast region of the state saw rainfall amounts as high as 2 to 3 inches per hour, causing historic flooding. As the rivers were reaching record levels, the refinery in Coffeyville, KS experienced an oil spill mixing with the flood waters and destroying any structure in this path. For the first time in the history of Kansas Housing Resources Corporation, the State of Kansas looked to our agency as an emergency housing resource. The KHRC team assisted with recovery efforts by providing boots on the ground assistance and offering housing resources to those affected. KHRC staffed disaster recovery centers, participated in community resource fairs, and issued special funding for disaster-affected communities. Staff identified local housing vacancies as potential housing opportunities for displaced residents and operated home repair and construction initiatives to make damaged homes livable again, playing a crucial role in the region’s recovery process.

The Tennessee Housing Trust Fund was established to serve the needs of low- and very low-income Tennesseans. To date, this fund has provided more than $100M in funding to agencies directly addressing housing for vulnerable populations across the state.

Governor Sarah Palin and the Legislature go all in with funding for energy efficiency measures. AHFC weatherization program gets $200 Million, its biggest single amount of state funding ever. Work done by 20 AHFC partner organizations throughout the state. Lawmakers go beyond by adding $160 million more to establish a new program the Home Energy Rebate. At the end of 2016, 25,183 individual rebates were paid out. The total number of weatherized homes in the state now exceeds 21,000 with an average of 30% in energy savings for each home.

2008, 2013, 2014, 2016, and 2017 EMAP program revised and recapitalized to deal with the housing crisis in 2008, recapitalized again in 2013, 2014, 2016 and 2017.

DCHFA reached $1 billion mark in multifamily affordable housing finance in Washington, D.C.

82 of 92 counties in the State of Indiana experience severe flooding and are declared federal disaster areas.For the first time, IHCDA joins the State Department of Homeland Security for disaster recovery, offering hotel vouchers and emergency rental assistance. The State then receives CDBG-Disaster Recovery funds and IHCDA administers the housing portion to build and repair homes in areas hit by the floods.

Recovery Act Period: Housing Credit Exchange Program (CEP): KHRC was the first HFA in the nation to fund a development.

WCDA developed the Habitat for Humanity Program where WCDA purchased loans at 0% interest from Wyoming Habitat for Humanity affiliates. By recycling their funds, Habitat affiliates are able to build more homes more quickly. 156 loans totaling $19.9 million.

Transitioned single-family loan business model to better serve households and manage risk; reached 5,600+ households annually in 2020.

Established the Office of Affordable Housing Research & Strategic Planning (now named Housing Policy).

With the passage of federal legislation including HERA and ARRA, IHCDA administers numerous stimulus programs designed for economic recovery. These programs include the Hardest Hit Fund, Blight Elimination Program,Section 1602 Tax Credit Exchange, and Tax Credit Assistance Program.

Moderate Income Housing (MIH) Program: The Moderate Income Housing program serves the needs of moderate-income households that don’t qualify for federal housing assistance. MIH grants and/or loans are awarded to cities and counties to develop multi-family rental units and single-family for-purchase homes in communities with populations fewer than 60,000 people.

Provided foreclosure prevention counseling, assisting 40,000 households.

10,000 units created or preserved using tax-exempt bonds and 4% Low-Income Housing Tax Credits.

NCHFA helps 29,000 families through its Foreclosure Prevention Fund.

NDHFA launched a Rural Housing Investment Incentive Pilot Program to help communities attract developers and bridge the gap between construction costs and property value. By demonstrating the need for state-funded development assistance, the agency gains legislative approval and funding for what becomes the North Dakota Housing Incentive Fund, a program that has supported the development of more than 2,500 rental units in its first 10 years of existence.

WHEDA becomes the first HFA to offer an exclusive mortgage product in partnership with Fannie Mae.

First Transit Oriented Development, LEED Certified, LIHTC, affordable housing project was completed to serve 65 low- income households.

The Louisiana Legislature merges the Louisiana Housing Finance Agency with housing programs from other state agencies, including Louisiana Office of Community Development. The move establishes the Louisiana Housing Corporation, which centralizes Louisiana housing programs into one agency to streamline how the state addresses its housing needs, avoids duplication of efforts and improves service to the general public.

Established MS Homesaver Program – To date: we have helped 5,401 Homeowners avoid foreclosure totaling $104,286,399 in financial assistance

After Hurricane Irene devastated many areas of the state, hitting manufactured home communities particularly hard, VHFA helped create an award-winning program to assist Vermonters in purchasing energy efficient manufactured homes.

Rental Housing Works creates jobs and strengthens the Maryland economy by providing gap financing for the creation and preservation of affordable rental housing financed through the Maryland Department of Housing and Community Development’s Multifamily Bond Program and Low Income Housing Tax Credit Program.

South Carolina Homeownership and Employment Lending Program (SCHELP) passes the $200 million dispersion threshold in two years.

Maili and Pokai Bay Self-Help Housing use state and federal loans along with city exemptions to create fee simple home ownership opportunities for low-income families (142  and 70 units, respectively) along the economically depressed Waianae Coast. Units must be priced for those making a maximum of 80% of AMI.

OHFA develops its 811 Project Rental Assistance Interagency program and receives HUD funding.

SDHDA allocates $3.7 million in funding from the first application cycle of the Housing Opportunity Fund program, created with the passing of Senate Bill 235, the Building South Dakota Fund, during the 2013 legislative session. The Housing Opportunity Fund was designed to promote economic development in South Dakota by expanding the state’s supply of affordable workforce housing.

AHFA introduces the Alabama Home Buyer Initiative, a limited-time grant to pay mortgage insurance, which has since benefited more than 1,600 new home buyers and generated $243 million in home sales.

One of the first projects done through a Request for Proposals process to put up leasehold or rental units and built on state land in Kakaako, these 204 units are all aimed at households making no more than 60% of AMI, in a neighborhood better known for its luxury condominiums.

Virginia Housing creates its Community Outreach Division, which represents a uniquely integrated approach to engaging with housing partners, including technical assistance, grants, and financing.

The Delaware State Housing Authority launches its Strong Neighborhood Housing Fund and Downtown Districts Development Rebate programs.

The Arizona Department of Housing allocates $48 million to launch Pathway to Purchase, a down payment assistance program designed to grow homeownership in Arizona communities hardest hit by the Great Recession.

Arkansas Development Finance Authority creates its ADFA Outreach Team.

DCHFA’s flagship homeownership program, established in 2013, celebrates funding $200 million in mortgage loans, and the agency launches its Mortgage Credit Certificate Program.

MassHousing creates a first-in-the-nation $100 million workforce housing program to incentivize new construction of units for middle-income renters.

The D.C. Department of Housing and Community Development announces DCHFA as co-administrator of the Home Purchase Assistance Program (HPAP), and the agency launches the Housing Investment Platform.

Zoning and fee exemptions allowed the developer to put up a 45-story, 485-unit condominium with 292 of the units aimed at those making 120% of AMI or less. The project is 100% privately financed, and no tax credits were sought or provided. The project is located near the upcoming Honolulu rail terminus point. The developer is using the same financing model to put up nearby The Central, a 43-story, 512-unit condominium tower that sets aside 310 units for those meeting 140% of AMI or less.

VHFA sells $37 million in Sustainability Bonds, allowing institutions and individuals to invest directly in bonds that finance affordable housing and promote environmentally friendly development and economic growth. Proceeds from the sale help fund Vermont’s Housing for All initiative, the largest state investment in housing in several decades.

The New Mexico Mortgage Finance Agency is among the first Capital Magnet Fund recipients.

Louisiana Housing Corporation hosts its first-ever, all-inclusive housing conference. The award-winning event attracts more than 500 attendees from 50 parishes across Louisiana.

The Maryland Mortgage Program has been the state’s flagship homeownership program for more than 35 years. Under the Hogan Administration, the program has provided more than $2.8 billion in mortgages to more than 13,000 Marylanders and eliminated more than $11 million in student debt for first-time home buyers.

MassHousing launches the CommonWealth Builder program to spur construction of single-family homes and condominiums affordable to households with moderate incomes, particularly in communities of color.

The Nevada Housing Division serves more than 30,000 homeowners with mortgages and down payment assistance.

NCHFA passes the 100,000 mark for affordable apartment homes.

Oregon launches its first Statewide Housing Plan. The plan articulates the extent of Oregon’s housing problem and provides a roadmap to address it with a foundational focus on equity and racial justice.

The South Carolina State Housing Finance and Development Authority celebrates the 40th anniversary of its Homebuyer (mortgage bond) Program, which has made homeownership possible for 43,000+ households with more than $2.91 billion in funds.

The Arizona Department of Housing distributes $5 million in supplies and grants to more than 80 providers of services to people experiencing homelessness in Arizona during the COVID-19 pandemic.

The first high-rise residential/mixed-use tower in the heart of fast-growing downtown Kapolei, this 13-story, 153-unit complex is reserved for those 55 and older making no more than 60% of AMI. The project was assisted with tax credits, a rental housing revolving fund, and low-interest bonds. A second phase is underway.

KHRC transforms a conference room into a socially distant one-room schoolhouse; hires a local retired teacher, Ms. Gilbert; and launches the Gilbert Learning Academy (GLA) for employees’ school-age children, who complete their assignments under Ms. Gilbert’s diligent supervision, allowing staff to focus on the launch of an intensive emergency rental assistance program and administration of ongoing initiatives.

MassHousing launches its Workforce Advantage mortgage loan program with down payment assistance of up to $25,000 for home buyers with moderate incomes, particularly in communities of color.

PHFA distributes CARES relief during the COVID-19 pandemic, providing 16,515 renters with $54.4 million in rental assistance and 2,616 homeowners with $10.2 million in mortgage assistance.

The Texas Department of Housing and Community Affairs celebrates the 20th anniversary of the Texas Bootstrap Loan Program, used to build or rehabilitate 1,853 homes.

The Alaska Housing Rent Relief program receives $242 million in federal funding to assist renters financially impacted by COVID-19. Through a one-stop online application hub for the entire state, the program serves 25,542 Alaskans.

Using Coronavirus Relief and American Rescue Plan Act funds, IHCDA administers numerous programs focused on housing stability during the COVID-19 pandemic, including the Emergency Solutions Grant, Homeownership Assistance Fund, Emergency Rental Assistance Program, and a rental assistance fund created through CRF funds awarded to the State of Indiana.

The Nevada Housing Division assists more than 1,100 teachers with down payment assistance and below market-rate mortgages.