The Louisiana Housing Corporation Newsletter


News for December 11, 2015

LHC Tackles Rent Stress With $129.5 Million in New Construction & Rehabilitation
    
In an effort to further combat rent stress statewide, the LHC recently awarded $9.7 million in tax credits and $2.4 million in tax credit assistance to finance the construction and rehabilitation of 952 housing units of affordable housing. The $12.1 million investment will generate $117 million in private funding for a total development cost of $129.5 million. 

Of the 952 housing units being developed, 402 are newly constructed housing units, and 550 are rehabilitated units. Thirteen Louisiana parishes will benefit with East Baton Rouge Parish and Orleans Parish gaining 100 and 110 units of affordable housing, respectively. Caddo Parish will be able to build or rehab 170 units, and Rapides Parish will gain 48 units. 

Approximately 55 percent of projects will be in rural parts of the state, and 45 percent will be located in urban areas. For a complete list of approved projects and additional details, click here.
LHC Congratulates Top Producers in Single Family Program
LHC congratulates Lisa Cooper of Gulf Coast Bank, the top Single Family mortgage producer for the year with 14 loans totaling $1.9 million and David Wimberly of NOLA Lending Group, the top producer for the month with 3 loans totaling $393,146. 

When asked what they liked about LHC's mortgage programs, Cooper responded, "I love the programs LHC offers because buyers who have not saved for a down payment can purchase now instead of waiting. I also like the LHC programs because the staff are wonderful and the programs are so easy to use." 

Wimberly added that he is able to work with many buyers who can handle a monthly note but may not necessarily have enough funds saved for a down payment. "Many of these people are first-time homebuyers, and seeing how happy they are at closing is pretty special," he said. "Down payment assistance works very well for qualified buyers that meet LHC's criteria."
 
The LHC offers a variety of affordable mortgage programs for low and moderate income individuals with a 640 credit score. If you are a lender and would like more information about our mortgage programs, give us a call at 1-888-454-2001. 

A complete list of lenders for our mortgage programs is available online at www.lhc.la.gov or download the Market Rate GNMA program lender list here and the Preferred Conventional program lender list here.
Updates Posted to RFP for Program Management of Disaster Recovery Housing Programs
Reminder that the deadline for responses to the RFP for Disaster Recovery Housing Services is today (Friday, December 11). The LHC has posted the following updates to the RFP and Frequently Asked Questions to its website:
The RFP is available here for your reference. Please visit www.lhc.la.gov for more information or contact Liza Bergeron at [email protected] if you need further assistance.
170 Project Based Vouchers Available
If you are a landlord, property manager or tax credit developer, the LHC through the LHA has 170 Project Based Vouchers remaining to award in the Permanent Supportive Housing Program. Project Based Vouchers are monthly subsidies paid to the owners of rental properties to help offset rent payments for tenants who cannot afford them. 
 
For more information about Project-Based Vouchers, please click here.  If you are interested in participating in the program, please contact Andrew Jackson at the Louisiana Department of Health and Hospitals (DHH) at 504-568-5255 or [email protected]. If you've already submitted an application for the program and now have questions, please contact Mr. Jackson.  
Houma Gains New Mixed-Income Community

The LHC joined Volunteers of America in a ribbon cutting ceremony for the newly constructed Bayou Cane Apartments in Houma this past month. The complex will feature 82 newly constructed apartment homes, will offer a variety of amenities for residents, and will be certified as an Enterprise Green Community. 

LHC Interim Executive Director Michelle Thomas praised Bayou Cane Apartments for being a mixed-income community. "The families that call this place home, the children who will play on the playground and the families who will walk their dogs in the dog parks are not separated by class or artificial things," Thomas said.
LHC Facilities Are Available For Rent For Your Next Event
Technology Classroom Available for Rent

The LHC currently operates three facilities with meeting space, classrooms and training rooms that are all available for public use. Businesses or other professional organizations may schedule LHC facilities on a first-come, first-served basis. 
 
Contact LHC for rental rates at [email protected] or click LHC Facility Rental Information and LHC Meeting Space Information for more information.

 
Our mission is to ensure that every Louisiana resident is granted an opportunity to obtain safe, affordable, energy efficient housing.
 
Important Notices









Mark Your Calendar

December 11: Deadline to Respond to Disaster Recovery RFP

December 14: Deadline to submit responses for Technology Services RFP

December 17: Mandatory CHDO Round 2 NOFA Orientation Workshop

December 22: Deadline for Commercial Property Management RFP

December 29: Deadline for Compliance Monitoring RFP

December 30: Deadline for Construction and Compliance Monitoring Services RFP

January 13: LHC Board Meeting

January 25: Deadline to apply for CHDO Round 2 NOFA