Louisiana Housing Corporation's Monthly Newsletter

June 2024

Catch up on all things #TeamLHC. See where we've traveled, projects completed, board meeting recap, public funding announcements, and more.

LHC's mission is to ensure that every Louisiana resident is granted an opportunity to obtain safe, affordable, energy-efficient housing. We administer federal and state funds through programs designed to advance the development of energy-efficient and affordable housing for working families, drive housing policy for Louisiana, and oversee the state's Disaster Housing Task Force.

Each day, our mission is met by a dedicated staff of professionals who help families make their housing dreams a reality.

To access information about a topic highlighted in the newsletter, simply click on the graphic, image, button, or hyperlink.

Corporation Updates

LHC awards $18.6 million to 7 projects across La for the 1st round of PRIME-3 Program (1)

The Louisiana Housing Corporation (LHC) in conjunction with the Louisiana Office of Community Development (OCD) awards $18,606,690 in Community Development Block Grant (CDBG) Funds through the PRIME 3 Program to seven projects to develop 255 new construction housing units across the state.

The following developments were awarded PRIME 3 funding

Phoenix Square Phases 2 & 3
45529 Durbin Rd., Hammond, LA
Tangipahoa Parish
46 units
Banneker Community
701 S. Upland Ave., River Ridge, LA
Jefferson Parish
29 units
Winn Dixie Phase II
1431 St. Louis St., New Orleans, LA
Orleans Parish
45 units
West Tunnel Lofts
1368 W. Tunnel Blvd., Houma, LA
Terrebonne Parish
40 units
Ravendale Apartments
Ravendale Rd.; North Market Place, Shreveport, LA
Caddo Parish
49 units
Mid-City Lofts
18th St. & Lake St., Lake Charles, LA
Calcasieu Parish
46 units

A second round of PRIME 3 awards was announced on July 3, 2024.

For more information about the PRIME 3 Program, contact development@lhc.la.gov.

Governor Landry Appoints Stephen I. Dwyer as LHC Board Chairman

The Louisiana Housing Corporation (LHC) team is extremely thankful for Governor Landry's commitment to housing for the State of Louisiana. LHC is fortunate to have the leadership of Board Chairman Stephen I. Dwyer. “Chairman Dwyer is exactly what LHC needs to bring housing systems into the position Governor Landry has envisioned,” said Executive Director Marjorianna Willman. "We also want to thank former Chairman Alfred Harrell for his continued contributions to LHC and the State of Louisiana."

Homeownership Month in June

As a leading advocate for affordable housing solutions in the state, LHC proudly joined the nation in commemorating Homeownership Month throughout June 2024. This annual observance highlights the invaluable role that homeownership plays in fostering stable communities, building wealth, and both realizing and working toward the American Dream.

#TeamLHC participated in several homeownership events across the state and hosted the 2nd Annual Taste of Home, advising Louisiana residents about the benefits of Homeownership.

Project Highlights

BAYOU GRAND PHASE III

$5.8 million of Community Development Block Grant (CDBG) funds, $15.5 million in Multifamily Housing Revenue Bonds, and $917,995 in Low Income Housing Tax Credits (LIHTC).

The LHC hosted the LA Statewide Homeownership Roundtable Think Tank just as we end Homeownership Month in June! #TeamLHC welcomed participants, stakeholders, housing developers, and state officials to discuss and advance the goals and phases of six affordable housing work streams. Watch this video to gain further insight into the homeownership topics that were highlighted.

Funding Announcements & Public Notices

The LHC released a draft version of its potential application for the HUD Preservation and Reinvestment Initiative for Community Enhancement (PRICE). Each applicant is required to submit a draft for public comments. The LHC will review, retain, and utilize feedback from the public regarding the drafted application which can be found on LHC's website in the Public Notices section. We look forward to receiving your input.

Locate #TeamLHC

HOME in Monroe

#TeamLHC traveled to Monroe putting on mini workshops that focused on down payment assistance for first-time home buyers, and financial assistance for renters and landlords to address housing issues.

Hancock Whitney Loan Officer Conference in New Orleans

#TeamLHC put on a presentation for loan officers on LHC's Mortgage Revenue Bond Program.

Energy Auditor Training Classes

LHC Louisiana Building Science Center (LABS) team put on an IREC Energy Auditor Training Course. The participants learned proper techniques for assessing residential buildings.

NCSHA

LHC Director of Administration and Compliance Todd Folse presented at the National Council of State Housing Agencies in Atlanta, GA. He presented on the Housing Credit Compliance panel alongside other housing leaders.

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Bogalusa

LHC participated in Bogalusa Rebirth's 8th Annual Housing Resource Fair. The fair educated individuals, potential homeowners, and renters with knowledge on building wealth, homeownership opportunities, and beneficial housing programs.

East St. Tammany Homeownership Expo

LHC Homeownership Marketing Supervisor Daniel Duggan spent time in Slidell, Daniel connected with other Housing Leaders and spoke with members of the public about the Homeownership programs that LHC offers.

East Feliciana Parish

LHC's Homeownership Team hosted a homeownership workshop and the future of Housing Choice Voucher acceptance within East Feliciana Parish.

Development District Summit

LHC Executive Director Marjorianna Willman spoke at the ULI Louisiana and Downtown Development District of New Orleans Future of Affordable Housing Summit. She was the luncheon keynote speaker, and her presentation focused on enhancing affordable and resilient housing in LA.

LHC Board Of Directors Meeting Recap

LHC Board of Directors Swear In Board Appointments

Sarah E. Collier and Karen A. Loftin

Budget & Finance Committee Matters

The Board of Directors adopted a resolution of a Short-Term LHC Operating Budget for the period of July 1, 2024-September 1, 2024, as related to the LHC Operating Budget for the Fiscal Year ending June 30, 2025.

Administration Committee Matters

Approved to enter into a contract with RayBrad, LLC to provide Consultant Services to the LHC.
Approved to enter into a contract with The Law Offices of R. Gray Sexton to represent the LHC Board of Directors.
Approved the authorization to select and contract with selected proposer(s) to the Request for Proposals (RFP) for management services for LHC properties such as Village de Jardin Apartments, Willowbrook Apartments, and Mid-City Gardens Apartments.
Discussed the LHC Staffing Plan and the LHC Strategic Plan 2023-2026.
Proposed Amendment to the LHC Bylaws pursuant to Senate Bill No. 462 of the 2024 Louisiana Legislative Regular Session regarding how the LHC Board of Directors selects a Chair.

Program Committee Matters

Accepted the parameter term proposal for the purchase of not exceeding $80,000,000 of LHC Single Family Mortgage Revenue Bonds.
Approved the resolution of intention to issue not exceeding $18 million in Multifamily Housing Revenue Bonds for Parkwood Place.
Approved the resolution and authorization of the execution of a Subrecipient Agreement in connection with the engagement of Louisiana Housing Corporation by the City of Lake Charles to assist in disbursing City CDBG-DR Funds to three Residential Rental Recovery Developments located in the City, and to perform on the behalf of the City certain asset management oversight functions following the construction completion of the three Residential Rental Recovery Developments.
Received an update regarding the PRIME-2 and PRIME-3 programs.
Received an update regarding State and Federal Legislative matters.