The Maryland Department of Housing and Community Development (DHCD) issued Multifamily Notice 20-15 concerning the use of the “Taxable/Tax-Exempt Financing” technique. DHCD is now expanding the financing technique to include projects that rely on subordinate financing from DHCD through Rental Housing Works (RHW) and other subordinate financing programs of DHCD. This modification is retroactively effective for applications submitted for financing, and DHCD will work with individual projects in underwriting to set the best course forward for each deal.
Additionally, DHCD recently updated the Multifamily Program Fee chart in connection with loan applications, loan closing and servicing, bond loan credit enhancement and insurance; LIHTCs; and post-closing monitoring and asset management for loans and LIHTCs.
