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Budget Year / Version:
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Program Description

  Multi-Family Housing Programs

This program creates and preserves affordable multi-family housing units. Loans are made to the HOC, nonprofit organizations, property owners, and for-profit developers. This program provides funding to:

  • preserve existing affordable housing units;
  • construct and acquire affordable housing units;
  • rehabilitate existing rental housing stock;
  • participate in housing or mixed-use developments that will include affordable housing;
  • acquire land to produce affordable housing; and
  • provide low-income rental housing assistance.
Major funding for these projects is provided from the Montgomery Housing Initiative Fund, the Federal HOME Grant, the Federal Community Development Block Grant, and State grants. The program emphasizes the leveraging of County funds with other public and private funds in undertaking these activities.

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Program Contacts

Contact Pofen Salem of the Department of Housing and Community Affairs at 240.777.3728 or Anita Aryeetey of the Office of Management and Budget at 240.777.2784 for more information regarding this department's operating budget.

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Program Performance Measures

Program Performance MeasuresActual FY20Actual FY21Estimated FY22Target FY23Target FY24
Number of affordable housing units preserved and available for occupancy (County funded) 5,946 6,1976,3816,5726,769
Number of affordable housing units produced and available for occupancy (County funded) 1 546 650668688929
Ratio of non-County dollars leveraged to County dollars in affordable housing projects 4.25 4.384.514.644.78
Total affordable housing units produced 1,202 1,6401,3061,3451,999
Total affordable housing units preserved 2 6,004 7,1297,1427,3577,577
1  Out year projections may fluctuate based on current pipeline activity and certain assumptions on preservation / production strategies.
2  Preservation increases projected in FY18-20 due to increases in MHI rental assistance funding.
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Program Budget Changes

FY23 Approved ChangesExpendituresFTEs
FY22 Approved417981986.90
Enhance: Operating Expenses to Reflect Adjusted General Fund Transfer to MHI48421200.00
Enhance: Rental Assistance Program Due to Increased Revenue Estimates47571900.00
Enhance: Operating Expenses to Reflect Adjusted Investment Income Estimates24538200.00
Increase Cost: Operating Expenses to Reflect Adjusted Debt Service for Housing CIP15348000.00
Increase Cost: HOC Production Fund Contribution to MHI7291670.00
Enhance: Reflect Adjusted Loan Payment Estimates2000000.00
Decrease Cost: Reflect Adjusted Other Financing Sources-24200.00
Reduce: Designated Expenditures due to Adjustment of Reserve for Affordable Housing-34000000.00
Reduce: Affordable Housing Projects Based on Land Sale Proceeds Contributed to the MHI-52977500.00
Multi-program adjustments, including negotiated compensation changes, employee benefit changes, changes due to staff turnover, reorganizations, and other budget changes affecting multiple programs.-10734151.00
FY23 Approved465417107.90