Introducing new DHCD newsletter: CDA eNews; release of maps for new homeownership production initiative

The Maryland Department of Housing and Community Development (DHCD) has created a new channel to communicate updates within the Community Development Administration (CDA), the state’s housing finance agency. This newsletter will provide updates on DHCD’s community development efforts, energy programs, and broadband projects, as well as opportunities to highlight CDA partners.

The Department is excited to release the maps for the State's new Homeownership Production Initiative geared towards addressing the appraisal gap in communities where construction costs exceed the selling price of a property. As a part of the Administration's commitment that Maryland will leave no one behind, DHCD received $10 million in FY24 to create homeownership opportunities in neighborhoods designated as "Historically Redlined Communities."

Background

In 2021, the Maryland Legislature passed the Appraisal Gap from Historic Redlining Financial Assistance Program. Additionally, DHCD launched a Homeownership Works Pilot Program, which supported homeownership development in two historically redlined communities in Baltimore and Cambridge. DHCD's new homeownership initiative will build upon that legislation and pilot program by supporting developers building single-family homes in historically redlined communities. The initiative is designed to address the pervasive appraisal gap issues in designated communities by leveraging public and private sector investments to promote development and boost property values.

This map highlights the qualified areas that DHCD has identified for the new homeownership production initiative. The Department will release more on how to apply, including minimum threshold and scoring criteria, and information on a draft guide and listening sessions later this year via DHCD’s new CDA eNews channel. 

If you have any questions, please reach out to [email protected].