Crownsville, MD – Every dollar of state funds invested in Department of Housing and Community Development programs in fiscal year 2010 had an economic impact of $35, according to a financial analysis by the agency’s research department. Leveraging additional financial resources from the federal government, bond revenue and the private sector, DHCD programs put $1.6 billion into the state’s economy, creating or sustaining 14,274 jobs and helping 52,496 families.
The year-end analysis measured the effect of DHCD’s single family, multifamily and neighborhood revitalization programs as the agency worked toward its mission to finance housing opportunities and revitalize great places for Marylanders to live, work and prosper.
Single family investments include safe, low cost mortgages through the Maryland Mortgage Program and programs that help families improve their home such as weatherization assistance, lead paint abatement and grants for those with special needs. In fiscal year 2010, those programs helped 3,998 households, created or sustained 354 jobs and added nearly $1 million in tax receipts. Multifamily housing programs helped 25,377 households, added or rehabilitated 3,179 rental units, and created or sustained 11,078 jobs. DHCD’s neighborhood revitalization programs served 248 communities, assisted 232 businesses and funded 87 projects across the state.
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