{"id":12136,"date":"2024-06-28T11:07:07","date_gmt":"2024-06-28T15:07:07","guid":{"rendered":"https:\/\/news.maryland.gov\/dhcd\/?p=12136"},"modified":"2024-06-28T11:07:10","modified_gmt":"2024-06-28T15:07:10","slug":"maryland-department-of-housing-and-community-development-announces-the-issuance-of-34-8-million-in-bonds-to-assist-local-infrastructure-projects","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2024\/06\/28\/maryland-department-of-housing-and-community-development-announces-the-issuance-of-34-8-million-in-bonds-to-assist-local-infrastructure-projects\/","title":{"rendered":"Maryland Department of Housing and Community Development Announces the Issuance of $34.8 Million In Bonds to Assist Local Infrastructure Projects"},"content":{"rendered":"\n<p><em>Six jurisdictions in Maryland to receive financing to improve their communities<\/em><\/p>\n\n\n\n<p><b>NEW CARROLLTON, MD.<\/b> &#8211; The Maryland Department of Housing and Community Development today announced it has issued $34.8 million in bonds through the Local Government Infrastructure Finance (LGIF) Program to support infrastructure improvement efforts across the state.\u00a0<\/p>\n<p>DHCD\u2019s Community Development Administration administers the bonds on behalf of counties, municipalities and\/or their instrumentalities to finance projects that serve the community at large, such as streetscape improvements, transportation enhancements or water and sewer treatment facilities.\u200b\u200b<\/p>\n<p>The financing through the Department will help local governments bring the following projects to fruition:<\/p>\n<ul>\n<li><b>Berlin<\/b> &#8211; $1,000,000 to fund electrical system meter replacement and upgrades, and $2,800,000 to fund the construction of a new public works facility.\u00a0\u00a0<\/li>\n<li><b>Cumberland<\/b> &#8211; $529,405 to fund the purchase of vehicles, equipment, $591,713 to fund the acquisition of heavy equipment, and $2,087,193 to fund building and facility improvements.<\/li>\n<li><b>Laurel<\/b> &#8211; $1,850,000 to fund vehicle and equipment purchases, $3,462,243 to fund street improvements, and $2,750,000 to fund facility improvements.<\/li>\n<li><b>Leonardtown<\/b> &#8211; $6,000,000 to fund the construction of a new water storage tank and well.<\/li>\n<li><b>St. Mary&#8217;s Metropolitan Commission <\/b>&#8211; $11,257,216 to fund water and sewer system improvements.<\/li>\n<li><b>Thurmont<\/b> &#8211; $400,000 to fund the acquisition of a new bucket truck, and $3,600,000 to fund electrical system improvements.<\/li>\n<\/ul>\n<p>\u201cWe are pleased to offer this kind of financial support to our local governments for infrastructure improvement in their communities,\u201d <b>said DHCD Secretary Jake Day.<\/b> \u201cOur Local Government Infrastructure Finance program is an important tool to ensure we leave no one behind in Maryland. We\u2019re also grateful for partners such as McKennon, Shelton &amp; Henn, People First, Caine Mitter, and Wilmington Trust for their hard work and diligence to make this happen.\u201d<\/p>\n<p>Whether funds are needed for a $150,000 effort or a $10 million project, Local Government Infrastructure Financing is a convenient and streamlined resource for local governments that:<\/p>\n<ul>\n<li>Want to secure long-term capital financing with advantageous terms;<\/li>\n<li>Do not routinely issue bonds; and<\/li>\n<li>Have limited resources to initiate financing on their own.<\/li>\n<\/ul>\n<p>Local governments must secure local legislative approval to receive the financing.<\/p>\n<p>To see a full list of awards, <a href=\"https:\/\/dhcd.maryland.gov\/Documents\/PressReleases\/CDA-LGIF-2024-SeriesA-2.pdf\">click here<\/a>. For more information on the Local Government Infrastructure Financing program, <a href=\"https:\/\/dhcd.maryland.gov\/Communities\/Pages\/lgif\/HowItWorks.aspx\">click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Six jurisdictions in Maryland to receive financing to improve their communities NEW CARROLLTON, MD. &#8211; The Maryland Department of Housing and Community Development today announced it has issued $34.8 million in bonds through the Local Government Infrastructure Finance (LGIF) Program to support infrastructure improvement efforts across the state.\u00a0 DHCD\u2019s Community Development Administration administers the bonds<a href=\"https:\/\/news.maryland.gov\/dhcd\/2024\/06\/28\/maryland-department-of-housing-and-community-development-announces-the-issuance-of-34-8-million-in-bonds-to-assist-local-infrastructure-projects\/\">&nbsp;&nbsp;Read the Rest&#8230;<\/a><\/p>\n","protected":false},"author":239,"featured_media":12128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[92,33],"tags":[],"class_list":["post-12136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lgif","category-press-releases"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/12136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/239"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=12136"}],"version-history":[{"count":1,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/12136\/revisions"}],"predecessor-version":[{"id":12137,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/12136\/revisions\/12137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media\/12128"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=12136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=12136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=12136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}