Title:
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A Resolution approving the application by Housing Initiative Partnership, Inc. to the Maryland Department of Housing and Community Development for funding through the Community Legacy Financial Assistance Fund
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Title
A Resolution approving the application by Housing Initiative Partnership, Inc. to the Maryland Department of Housing and Community Development for funding through the Community Legacy Financial Assistance Fund
Background
Housing Initiative Partnership, Inc. (“HIP”), an innovative Maryland nonprofit organization and County approved Community Housing Development Organization, has applied to the State of Maryland’s Department of Housing and Community Development for $500,000 in Community Legacy funds to support its redevelopment work in Palmer Park. HIP proposes to use Community Legacy funds to carry out its “Acquisition and Rehab” program in which HIP would acquire and rehabilitate four vacant and/or derelict single family homes, hire local and/or minority businesses, and incorporate “green elements” into the design and construction of these homes. Upon completion, these single family homes will be sold to first time homebuyers earning 80% or less of the area’s median income for Prince George’s County. The project would promote the overall objectives of the of Prince George’s County Department of Housing and Community Development’s Five Year Consolidated Plan and FY 2012 Annual Action Plan. Further, the project would focus on neighborhood revitalization and boost property values. The State of Maryland requires local legislative support for each Community Legacy Program application.