FOR IMMEDIATE RELEASE
May 8, 2017

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HOC Receives NALHFA Award for RAD 6 Project

Kensington, MD – The Housing Opportunities Commission of Montgomery County (HOC) was recognized for Multifamily Excellence at the 2017 National Association of Local Housing Finance Agencies (NALHFA) Annual Conference Awards Luncheon on April 27th, 2017. 

The NALHFA award for Multifamily Excellence recognizes innovative multifamily programs and projects from local housing finance agencies around the nation. Submissions were selected based on their ability to demonstrate extraordinary benefit to the community, innovation, transferability, affordability for tenants, and service to special groups. HOC was honored for their RAD 6 conversion and rehabilitation project, which used the Department of Housing and Urban Development’s Rental Assistance Demonstration (RAD) program to leverage the existing value of its real estate assets and preserve affordable units in the community. The submission highlighted the project’s pooled finance structure which could easily serve as a financing model for other communities.

“HOC is honored to be recognized by NALHFA,” said Executive Director Stacy L. Spann. “Pooling the multi-site properties into one transaction allowed us to invest even more deeply, preserving the units for the long-term. Working harder to preserve the RAD 6 project is just one example of how HOC works every day to push the boundaries of what’s possible in affordable housing.”

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About the Housing Opportunities Commission of Montgomery County:

The Housing Opportunities Commission of Montgomery County (HOC) was established in 1974 to better respond to the County’s need for affordable housing. HOC’s mission is to provide affordable housing and supportive services that enhance the lives of low- and moderate-income families and individuals throughout Montgomery County, Maryland. To achieve this mission, HOC operates as a public housing agency, a housing finance agency and a housing developer.

About the National Association of Local Housing Finance Agencies:

The National Association of Local Housing Finance Agencies (NALHFA) founded in 1982, is the national association of professionals working to finance affordable housing in the broader community development context at the local level. As a non-profit association, NALHFA is an advocate before Congress and federal agencies on legislative and regulatory issues affecting affordable housing and provides technical assistance and educational opportunities to its members and the public. Members are city and county agencies, non-profits, and private firms, such as underwriters, consultants, financial advisers, bond counsel, and rating agencies, which help in producing housing from concept to completion.