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Building a Maryland Regional Workforce Housing Fund

A presentation on:. Building a Maryland Regional Workforce Housing Fund. June 7, 2006. Victor L. Hoskins Secretary. Governor’s Accomplishments. DHCD Economic Impact in Maryland (Calendar Years 2003-2005) Direct Investment in cities, counties, towns and communities: $3.1 Billion

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Building a Maryland Regional Workforce Housing Fund

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  1. A presentation on: Building a Maryland RegionalWorkforce Housing Fund June 7, 2006

  2. Victor L. HoskinsSecretary

  3. Governor’s Accomplishments • DHCD Economic Impact in Maryland (Calendar Years 2003-2005) • Direct Investment in cities, counties, towns and communities:$3.1 Billion • Economic Impact Statewide:$4.9 Billion • Number of Jobs Created:56,400 • State and Local Taxes Generated:$135 Million • Economic Impact per Dollar of State Funds:$19 • Affordable workforce, senior and disabled housing opportunities:30,337

  4. Governor’s Commission on Workforce Housing • Recommendation: Public-Private Sector Resource Leveraging Support and encourage the State’s participation on the Maryland Equity Fund Steering Committee that will analyze Maryland’s ability to support an Equity Fund that will provide funds for workforce/affordable housing and community revitalization initiatives.

  5. Maryland Equity Fund • Statewide Market Assessment Report Findings: • Nationally, equity funds have invested $5.4 billion in communities, leveraging more than $15 billion in total project investment. • Throughout Maryland there is a need of more than $2.1 billion for residential and commercial development in low, moderate, and middle income neighborhoods. • Two funds are recommended: The Community Development Real Estate Fund for commercial and employment-based development and The Maryland Workforce Housing Fund to meet the housing needs of middle income families.

  6. A presentation on: Building a Maryland RegionalWorkforce Housing Fund June 7, 2006

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