E-ffordable News Articles
December 21, 2018
Season’s Greetings for a Happy New Year
The Fairfax County Redevelopment and Housing Authority (FCRHA) and the Fairfax County Department of Housing and Community Development (HCD) wishes everyone a happy and safe holiday season and best wishes for the New Year!
Our offices will be closed all day on Monday, December 24, and Tuesday, Dec. 25 in observance of the holiday season. Our office will reopen on Wednesday, Dec. 26. at 8:00 a.m. Offices will close again on Tuesday, Jan. 1 in observance of New Year’s Day and will reopen under normal business hours (8:00 a.m. to 4:30 p.m.) on Wednesday, Jan. 2.
Fairfax County Preserves Over 400 Units of Affordable Housing
Murraygate, Parkwood to bring much-needed private investment, long-term affordability to redeveloping areas
Fairfax County has taken another step forward in preserving the community’s essential affordable housing stock. The Fairfax County Redevelopment and Housing Authority (FCRHA), the county’s affordable housing financing agency, has closed on financing totaling over $50 million in private equity generated FCRHA tax-exempt bonds, and nearly $6 million in Fairfax County funds, for the preservation and rehabilitation of two affordable housing communities; Murraygate Village Apartments (Lee District) and Parkwood Apartments (Mason District).
Over $2.5M Available for Affordable Housing Projects – Applications Due February 1, 2019
The Fairfax County Department of Housing and Community Development (HCD) announces the availability of funds under the federal Community Development Block Grant (CDBG) program. Project proposals are being solicited to acquire, develop or rehabilitate affordable housing.
First Annual Regional Celebration of Family Self Sufficiency Graduates Held in Washington, D.C.
For the first time, housing agencies from around the region celebrated more than 70 individuals who are on their paths to success. The Fairfax County Redevelopment and Housing Authority (FCRHA), the Alexandria Redevelopment and Housing Authority, the District of Columbia Housing Authority, and Rockville Housing Enterprises held a joint celebration for graduates of the Family Self-Sufficiency (FSS) program.
Funded by the U.S. Department of Housing and Urban Development, the national FSS program assist residents in increasing their earned income in order to decrease their reliance on housing subsidies. The FCRHA’s program focuses on all of the barriers that are likely get in the way of self-sufficiency, including education, training, budgeting, credit repair, savings, transportation, childcare and affordable health care.
FCRHA Awards $2.1M in Federal Funds to Local Non-Profit Housing Organizations
Funds to be used for the acquisition and rehabilitation of affordable rental housing for low-income households
At its last Board meeting in December 2018, the Fairfax County Redevelopment and Housing Authority (FCRHA) awarded of approximately $2.1 million in Community Development Block Grant (CDBG) and HOME Investment Partnerships Program (HOME) funds to four local non-profits. The funds will be used for the acquisition and rehabilitation of affordable rental housing for low-income households at or below 30 percent and at or below 50 percent, respectively, of the Area Median Income (AMI).
Egan Excellence Awards
On Thursday, Dec. 13, the Conrad Egan Excellence Award ceremony was held in the Fairfax County Redevelopment and Housing Authority (FCRHA) Board Room at One University Drive to recognize exceptional efforts and contributions of staff members at the Fairfax County Department of Housing and Community Development (HCD). The FCRHA established the Conrad Egan Excellence Awards, named in honor of Conrad Egan, former FCRHA chairman in June 2008.
The Conrad Egan Excellence Awards have four categories including: Achievement, Service, Leadership and Collaboration. This year, awards were present to individuals in the Leadership, Achievement, and Collaboration categories.
Fairfax County’s Hypothermia Prevention Program
To help ensure no one has to sleep outside during the winter months, a collaborative effort by the county, nonprofits and faith communities created the Hypothermia Prevention Program more than a decade ago. Last winter (December 2017 through March 2018), the program provided almost 1,100 people experiencing homelessness in our county with a warm, safe place to sleep and a healthy meal.
People can die from hypothermia, a condition brought on when the body temperature drops below 95 degrees. Warning signs include uncontrollable shivering, memory loss, disorientation, incoherence, slurred speech, drowsiness and apparent exhaustion.
FHA Releases 2018 Annual Report to Congress
The Federal Housing Administration (FHA) has released its 2018 Annual Report to Congress on the economic condition of the agency's Mutual Mortgage Insurance Fund (MMI Fund). FHA reports that at the end of Fiscal Year (FY) 2018, the MMI Fund had a total Economic Net Worth of $34.8 billion and a Capital Reserve Ratio that remains above the statutory minimum for a fourth consecutive year.
The MMI Fund supports FHA’s single-family mortgage insurance programs, including all forward mortgage purchase and refinance transactions, as well as mortgages insured under the Home Equity Conversion Mortgage (HECM), or reverse mortgage program. While the value of FHA’s forward mortgage portfolio is growing, the latest independent actuarial report finds the value of the agency’s reverse mortgage portfolio continues to decline, representing a continuing economic drain on the MMI Fund from books of business in 2018 and earlier.