Overview
The Workforce Housing Development Corporation was founded to assist in the construction, operation, and preservation of workforce housing designed to serve low and moderate-income households nationally.
The Corporation was established to expand the supply of safe, decent, and affordable housing by the fostering construction, rehabilitation, acquisition, and management of such housing for low- to moderate-income households. The Corporation was also established to offer a variety of programs and services to these households thereby lessening the burden of local government.
The housing projects to be developed and/or supported through the Corporation’s activities will include new construction as well as the acquisition and rehabilitation of existing apartment complexes and the adaptive reuse of non-residential properties. It is anticipated that all such developments will be restricted to low- to moderate-income households (50% to 80% of Area Median Income). Some developments may include market-rate units not to exceed twenty-five percent (25%) of the total number of units for the project in accordance with the “'safe harbor” provisions of Revenue Procedure 96-32.
In connection with its primary goal of fostering the expansion of low- to moderate-income housing, the Corporation will offer a variety of programs and services to the residents of its developments. Such services include homeownership counseling, job training, computer training, learning centers, training & educational incentives, employer exchanges, physical health care, mental well-being, and other services. Most of these programs will be provided by qualified third-party service providers. Some will be provided by the Company itself.
The Workforce Housing Development Corporation was formally organized on April 16, 2019. The Corporation has attracted several highly-qualified and experienced individuals to serve on its Board of Directors, introduced below.
