Base Realignment and Closure (BRAC) Preservation Loan Fund - Maryland

The MD-BRAC Preservation Loan Fund supports preservation of affordable rental housing in areas experiencing growth brought on by the federal Base Realignment and Closure (BRAC) process. 

The following information on the MD-BRAC Preservation Loan Fund was available on the Maryland DCHD website as of November 16, 2016.

Purpose of Program: In a regional partnership, DHCD has joined with select County governments to preserve affordable multifamily rental housing located in the path of growth brought on by the federal Base Realignment and Closure (BRAC) process, which will bring over 25,000 new households to the region beginning in 2011. The purpose of the MD-BRAC Preservation Loan Fund is to leverage DHCD, federal, local and private funds to preserve affordable rental housing by providing flexible, short-term (typically 12-24 months) loans to spur additional affordable rental housing preservation activities in the MD-BRAC geographic footprint. In certain circumstances, the Fund will provide guarantees and other forms of collateral to eligible projects.

The MD-BRAC Preservation Loan Fund is part of DHCD’s larger affordable rental housing preservation initiative funded in part by the John D. and Catherine T. MacArthur Foundation. The MacArthur Foundation’s support for this initiative is part of their Window of Opportunity campaign, a $150 million, 10-year effort to preserve affordable rental homes across the nation. Maryland is one of only 12 states and cities to have been awarded funding under Window of Opportunity.

Contributed By: 
National Housing Trust

Other Items of Interest