Maryland Department of Housing and Community Development Releases Fiscal Year 2015-2022 Agency Impact Report

Agency Impact Report highlights the department’s legacy over the last eight years under the Hogan-Rutherford Administration and leadership of Secretary Kenneth C. Holt

The Maryland Department of Housing and Community Development today released its Fiscal Year 2015-2022 Agency Impact Report. Over the last eight years, the department’s more than $14.5 billion investment provided an economic impact of approximately $30 billion for the state, including $542.1 million in state and local taxes. More than 142,000 full-time equivalent jobs were created, generating $6.9 billion in wages and salaries. The report also provides an update on the agency’s COVID-19 pandemic response and recovery efforts, which includes the administration of $2 billion in state and federal aid toward eviction prevention and rental assistance, homeowner assistance, broadband access and infrastructure, and relief for Maryland’s communities and businesses. 

The department’s programs and activities have benefitted Marylanders across the state – from an increase in affordable housing opportunities to revitalization efforts spurring economic opportunities in neighborhoods. For the third consecutive year, the Maryland Mortgage Program has surpassed more than $1 billion in loan reservations with borrowers receiving $128 million in down payment assistance. As the state’s housing finance agency, affordable rental housing production has reached unprecedented levels, with more than 28,000 affordable units financed. The department’s Neighborhood Revitalization programs have provided more than $978 million in revitalization projects, and services to improve Maryland’s diverse communities. The department supported Governor Hogan’s commitment to ensure Maryland remains “open for business,” through small business assistance programs, including approximately $50 million in Project Restore grants. The department has also invested approximately $230 million for energy efficiency and green building initiatives, helping to reduce utility costs to achieve an average estimated annual savings of $398 on household energy bills.

Read more about the department’s impact here.

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