Columbia Downtown Housing Corporation

The drra requires hrd to provide cdhc with an amount intended to be at least $7,775,000 to support a live-where-you-work program ("lwyw") within downtown columbia, md. Cdhc has developed a program which provides rental subsidies to employees who rent in downtown columbia, md. The subsidies are equal to the difference between the market rent for the rental unit and the lihu rent or the mihu rent for the unit (based on the tenant family income). Cdhc implemented the lwyw rental assistance program in 2019. The result is enabling low- and moderate-income households to rent at below market rates for up to 3 years. There are two types of the live where you work program: employer/cdhc funded lwyw program (50/50) and american rescue plan / cdhc funded lwyw program (arp). A total of 19 employees and their families have benefitted from lwyw. In 2024, one new employee joined the program bringing the total number of employees assisted in 2024 to twelve (12).

The drra designates five sites in downtown to be developed as low-income housing tax credit ("lihtc") projects. The projects will be located on land or in air rights conveyed to the commission by either hrd or the county.artist flats. Progress was made in 2024 despite significant obstacles and artists flats closed on its financing in late december 2024. Cdhc disbursed $1.767 million of a total $3.5 million loan commitment to the artists flats project in december. A groundbreaking is anticipated in the spring of 2025. Banneker fire station. There were regular updates to cdhc on the status of the lihtc projects throughout 2024. Cdhc continued to monitor the 2025 budget process and again offered testimony in support of funding for the north columbia fire station, the new banneker fire station and other lihtc projects.