The Maryland General Assembly created the Maryland Affordable Housing Trust (MAHT) in 1992. The Trust is an instrumentality of the State, governed by a Board of Trustees appointed by the Governor, and staffed by the Maryland Department of Housing and Community Development. A portion of the interest generated by title company escrow accounts funds the activities of MAHT.
Funds are awarded as loans or grants based upon the financial structure needed to make the project viable. Although MAHT reserves the right to make its funding available as interest-bearing loans, funding for project-specific capacity building, operating expenses, and support services are generally made as grants. Funding for pre-development costs is generally repayable upon the closing of permanent financing for a project. Funding for capital costs is offered as deferred-payment loans or recoverable grants payable if the project is sold and/or ceases to be used for low-income occupancy.
Deadline for application is August 31, 2016. Maximum award amount is $75,000.
Interested in knowing more or applying for funding? Click here for more information.