Delaware State Housing Authority

Delaware State Housing Authority
Name	Delaware State Housing Authority
Formed	1968
Jurisdiction	State of Delaware
Headquarters	Dover, Delaware

Delaware State Housing Authority

The Delaware State Housing Authority operates as a public quasi-governmental organization administering statewide housing finance agency functions, rental assistance, and homeownership programs. It coordinates with federal programs such as the United States Department of Housing and Urban Development, state institutions like the Delaware Department of Health and Social Services, and regional entities including the Housing Authority of New Castle County to deliver subsidized housing, mortgage lending, and disaster recovery support.

History

The agency was created in 1968 during a period marked by passage of the Fair Housing Act and expansion of state-level housing finance agencies following models set in the New Deal era and initiatives from the United States Department of Housing and Urban Development. Early collaborations linked the agency with the Federal Housing Administration and state planning efforts influenced by the Delaware General Assembly and governors such as Russell W. Peterson. In the 1970s and 1980s the agency adapted to federal shifts under administrations including Jimmy Carter and Ronald Reagan, incorporating programs associated with the Low-Income Housing Tax Credit established in the Tax Reform Act of 1986. In response to disasters like Hurricane Sandy and public health crises including the COVID-19 pandemic, the agency administered emergency rental assistance coordinated with the Federal Emergency Management Agency and state emergency managers.

Organization and Governance

The agency is governed by a board appointed by the Governor of Delaware and works with the Delaware General Assembly on enabling legislation and budgetary coordination. Executive leadership liaises with state officers, including the Delaware Secretary of Finance and the Delaware Secretary of Housing. Compliance functions interact with federal regulators such as the Internal Revenue Service for tax credit programs and with the United States Department of Agriculture for rural housing initiatives. Oversight and audit relationships include state auditors, the Government Accountability Office, and independent rating agencies like Moody's Investors Service and Standard & Poor's when issuing bonds.

Programs and Services

The agency administers rental assistance programs linked to Section 8 vouchers and collaborates with regional housing authorities such as the Wilmington Housing Authority and the Sussex County Council to serve low-income households. It operates mortgage finance products compatible with Fannie Mae and Freddie Mac underwriting, first-time homebuyer counseling coordinated with nonprofits like NeighborWorks America and Habitat for Humanity. Multifamily financing uses tools from the Low-Income Housing Tax Credit and the Community Development Block Grant program, while special initiatives address veterans via partnerships with the United States Department of Veterans Affairs and elderly housing in coordination with the Administration on Aging and state aging services. Disaster recovery and pandemic relief utilized funds from the Coronavirus Aid, Relief, and Economic Security Act and programs administered by the United States Department of the Treasury.

Funding and Financial Operations

Revenue sources include tax-exempt bond issuances in capital markets rated by firms such as Fitch Ratings, multifamily loan pools insured by the Federal Housing Administration, and allocations of HOME Investment Partnerships Program and Community Development Block Grant dollars. The agency leverages Low-Income Housing Tax Credit equity syndicated by financial institutions including Wells Fargo and Bank of America to finance affordable developments, and it administers state housing trust funds appropriated by the Delaware General Assembly. Financial management follows standards from the Governmental Accounting Standards Board and is subject to audits by state auditors and external accounting firms like the Big Four accounting firms. Mortgage servicing and loan purchases interact with secondary market participants such as Ginnie Mae and private investors.

Housing Developments and Projects

The agency has financed mixed-income and affordable developments across urban and rural settings, working with developers and nonprofits such as The Michaels Organization, Ellerbe Becket, and Delmarva Housing. Projects have been sited near transit corridors serving Wilmington, Delaware, Dover, Delaware, and coastal communities in Sussex County, Delaware, and have integrated preservation efforts for public housing stock in partnership with the United States Department of Housing and Urban Development Choice Neighborhoods program. Redevelopment initiatives have attracted investment from syndicators and lenders including JP Morgan Chase and state economic development agencies like the Delaware Economic Development Office.

Partnerships and Community Impact

Partnerships span federal agencies — including the United States Department of Housing and Urban Development and the United States Department of Agriculture — state entities like the Delaware Department of Labor, local governments such as the City of Wilmington, and nonprofit service providers including Catholic Charities, United Way, and Delaware Community Reinvestment Action Council. Collaborative efforts focus on reducing homelessness in coordination with Continuums of Care coordinated by HUD, expanding homeownership through counseling networks linked to NeighborWorks America, and supporting workforce housing aligned with employers and regional planning bodies like the Delaware Valley Regional Planning Commission. The agency's programs intersect with education and health initiatives through partnerships with institutions such as University of Delaware and the ChristianaCare health system to address social determinants in targeted neighborhoods.

Category:State agencies of Delaware Category:Housing finance agencies