AFFORDABLE HOUSING PROGRAMS:
Currently the DHG manages 684 units and of these 9 properties are owned by the DHG. Within these properties there are a total of four different programs that consist of the following;
Currently we manage 8 scattered sites. This program is limited to low-income families & individuals. The Housing Authority determines the families individual eligibility based on the household’s annual gross income.
Neighborhood Stabilization Program (NSP):
Congress established the NSP for the purpose of stabilizing communities that suffered from foreclosures & abandonment, through the purchase & redevelopment of foreclosed & abandoned homes & residential properties. As a result the DHG partnered with the City of Delray Beach & acquired 7 NSP properties that are now leased to low income families.
State Housing Initiative Partnership (SHIP):
This program provides funds to local government as an incentive to create partnerships that produce & preserve affordable home ownership & multifamily housing. To qualify the family must meet the very low, low or moderate income limits. Currently we manage 23 SHIP units
Low Income Housing Tax Credit (LIHTC):
This is the federal government’s primary program for encouraging the investment & private equity in the development of affordable housing for low income housing. DHG secured its first tax credit deal in 2013 for Village Square, a 228 unit, 39.2 million affordable housing development. In 2016 DHG teamed up with Smith & Henzy Advisory Group in securing another tax credit property and currently serves as General Partner and Property Manager for this 404 unit, 35.8 million development known as Lake Delray Apartments.