Submitted by: David Cristeal
Submitting Department: Community & Economic Development
Agenda Section: Consent
Item Title:
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Grant Application to the State of Maryland, Department of Housing and Community Development (MD-DHCD) - State Revitalization Program (SRP) - National Capital Strategy Economic Development Fund (NCSED)
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Suggested Action:
I move the Mayor and City Council authorize the City Administrator to prepare an application to the State for grant funds to support the Sanctuary at Hyattsville Crossing and provide any needed documentation required, including a Letter of Support and Disclosure Authorization to the State.
recommendation
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Summary Background:
The First United Methodist Church (FUMC) partnered with Pennrose to develop a plan to build The Sanctuary at Hyattsville Crossing, an all-affordable rental community of 120 homes - 70 apartment homes for seniors and 50 apartment homes for families, on an underutilized portion of its, FUMC's, property. The estimated total development cost is $53.8 million. Pennrose is seeking funding to support the proposed development from a wide range of public and private sources.
Through an engagement process with the City and Prince George's County, the FUMC/Pennrose partnership has obtained initial financing support from both and has applied to the State for both loan funds and Low-Income Housing Tax Credits (LIHTC). Pennrose will know by the end of summer of 2025 if they have received a LIHTC award. The State anticipates making grant award announcements during the fall of 2025.
The State has FY2026 funds available through its State Revitalization Program - National Capital Strategic Economic Development Fund. Pennrose, as a private entity, is not an eligible applicant for the State Revitalization Program grant funds. Therefore, the City's grant application to the State, acting as the Local Government Application Sponsor, is a creative way to access these funds to meet an identified and acute ...
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