Title:
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A Resolution concerning the State of Maryland Neighborhood and Community Assistance Program for the purpose of expressing approval of the project submitted by HomeFree-USA to the Maryland Department of Housing and Community Development for participation in the Department’s Community Investment Tax Credit Program.
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Title
A Resolution concerning the State of Maryland Neighborhood and Community Assistance Program for the purpose of expressing approval of the project submitted by HomeFree-USA to the Maryland Department of Housing and Community Development for participation in the Department’s Community Investment Tax Credit Program.
Background
HomeFree-USA, a nonprofit organization, has applied to the Maryland Department of Housing and Community Development for approval of its Project Restore program, which restores homeowners at risk of foreclosure to financial health. Project Restore combines high touch coaching, behavior modification and financial education which are provided by HomeFree-USA with banking technologies that are already in common usage in the marketplace. It creates a “forced” structure which enables clients to remain within their budget and pay their mortgage and other debt until better financial habits are second-nature to them.
To support its efforts, HomeFree-USA is requesting $200,480 in Community Investment Tax Credits. The State of Maryland requires local legislative support for participation in the Program.