Cinnaire has announced the closing of a $340 million Low-Income Housing Tax Credit (LIHTC) multi-investor fund, the largest in its 32-year history. Known as Fund 43, the investment will support the development and preservation of affordable housing across 11 states, including a major project in Wilmington. The fund will finance 33 developments, resulting in 2,455 affordable housing units and benefiting more …
This story was originally published on Spotlight Delaware. In 2017, then-newly elected Mayor Mike Purzycki sat on a stage close by to Velda Jones-Potter as she gave her inaugural speech as Wilmington City Treasurer. The two held an amicable relationship at the time, Jones Potter said – with both of them new to being elected politicians and facing a city that …
A senior from Wilmington’s Salesianum School strongly believed that no one should spend Christmas alone. Lucky for him, his school community shared that same belief and rallied behind him to raise $30,000 to host its first annual Christmas Day lunch. On Monday – Christmas – Salesianum will open its doors from noon to 3 p.m., welcoming residents from numerous Wilmington …
A bill that could sway the political power of the Wilmington Housing Authority is moving on after little discussion in the Senate Housing and Land Use Committee Tuesday. Senate Bill 177, sponsored by Sen. Elizabeth “Tizzy” Lockman, D-Wilmington and committee chair, deals with the partisanship of the nine commissioners of the Wilmington Housing Authority. If passed, more than five commissioners …
Millions in American Rescue Plan Act money will fund a wide variety of programs designed to help Delawareans stay in their homes, get into a home or find a rental that’s affordable. To do that, the initiatives announced in recent days will: Help buy and rehab vacant homes in Delaware neighborhoods. Provide extra money to those building multi-family rental properties …
Evidence continues to pile up that Delaware is struggling to provide affordable housing: Data released Thursday by Housing Alliance Delaware says the state faces a shortage of more than 18,000 affordable and available rental homes for extremely low-income renters. Also Thursday, Delaware State Housing Authority announced that eligible Delaware renters can now receive up to 18 months of rental and …
