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| New Hampshire Housing | |
|---|---|
| Name | New Hampshire Housing |
| Formation | 1981 |
| Type | Public agency |
| Headquarters | Concord, New Hampshire |
| Leader title | Executive Director |
| Leader name | N/A |
| Website | N/A |
New Hampshire Housing is a state-chartered public entity created to expand affordable housing and administer housing finance in New Hampshire. It works with federal partners, state agencies, municipal bodies, nonprofit organizations, lenders, and developers to preserve and create rental and homeownership opportunities. The authority operates within a policy and legal environment shaped by statutes, bond markets, tax credits, and housing studies.
New Hampshire Housing was established in 1981 amid national developments such as the Low-Income Housing Tax Credit, the aftermath of the Community Reinvestment Act, and shifts in federal housing policy under the Reagan administration. Early initiatives paralleled programs run by the Federal Housing Administration, the Department of Housing and Urban Development, and state housing authorities like the Massachusetts Housing Finance Agency and the Vermont Housing Finance Agency. Throughout the 1990s and 2000s the authority interacted with actors including the National Council of State Housing Agencies, the Enterprise Community Partners, and the Fannie Mae and Freddie Mac secondary mortgage markets. Post-2008 financial crisis, New Hampshire Housing adapted to changes in capital availability driven by the Troubled Asset Relief Program and reforms affecting Ginnie Mae securities. In the 2010s and 2020s, the authority’s work intersected with statewide planning efforts influenced by entities such as the New Hampshire Department of Health and Human Services, the New Hampshire Department of Transportation, and regional planning commissions like the Southern New Hampshire Planning Commission. Collaborations have included nonprofits such as Habitat for Humanity and national philanthropies like the MacArthur Foundation and the Ford Foundation.
The authority’s board and executive structure reflect models used by bodies like the New Jersey Housing and Mortgage Finance Agency and the New York State Homes and Community Renewal board. Governance involves appointments by the Governor of New Hampshire and oversight elements linked to the New Hampshire State Legislature fiscal committees. Compliance and audit functions engage with institutions like the Government Accountability Office standards and independent auditors akin to those auditing the New Hampshire Retirement System. Legal counsel interacts with precedents from the New Hampshire Supreme Court and regulatory frameworks administered by the Internal Revenue Service for tax-exempt bond issues. Partnerships span municipal leaders from cities such as Concord, New Hampshire, Manchester, New Hampshire, and Nashua, New Hampshire and regional utilities like Eversource Energy. The authority coordinates with workforce development entities including the New Hampshire Employment Security agency and community health systems such as Dartmouth-Hitchcock Medical Center.
Programs mirror resources provided by agencies like the California Housing Finance Agency and tools promoted by the Urban Institute. Core offerings include mortgage purchase programs aligned with Fannie Mae and Freddie Mac products, down payment assistance similar to programs from the Federal Home Loan Bank, rental assistance and project-based financing leveraging Low-Income Housing Tax Credit allocations, and supportive housing initiatives coordinated with the U.S. Interagency Council on Homelessness. The authority provides homeowner counseling certified by organizations like the U.S. Department of Housing and Urban Development housing counseling program and works with community development corporations such as Southern New Hampshire Services and Monadnock Developmental Services. Preservation efforts often involve historic tax credits linked to the National Trust for Historic Preservation and environmental site considerations involving the Environmental Protection Agency. Disaster recovery and resilience initiatives coordinate with the Federal Emergency Management Agency and state emergency management offices.
Financing draws on tax-exempt bond issuance similar to instruments used by the New York City Housing Development Corporation and capital markets practices influenced by the Securities and Exchange Commission. Revenue sources include mortgage-backed securities in the vein of Ginnie Mae pools, federal grant awards from HUD programs, allocations of Low-Income Housing Tax Credit, and state appropriations authorized by the New Hampshire Legislature. The authority competes for private investment from banks subject to the Community Reinvestment Act and from institutional investors like BlackRock and Vanguard in secondary markets. Credit rating interactions involve agencies such as Moody's Investors Service, Standard & Poor's, and Fitch Ratings, which assess bond offerings. Financial oversight connects to accounting standards from the Governmental Accounting Standards Board and audits comparable to those for the New Hampshire Municipal Bond Bank.
Outcomes are measured against metrics used by research centers such as the Joint Center for Housing Studies of Harvard University and the Urban Institute. Reported impacts include units financed, mortgages purchased, and households served across urban centers like Portsmouth, New Hampshire and rural counties including Grafton County and Coös County. The authority’s programs influence indicators tracked by the U.S. Census Bureau American Community Survey and by statewide housing studies from institutions like the University of New Hampshire Carsey School of Public Policy. Evaluations reference program models tested in jurisdictions including Minnesota Housing Finance Agency and MassHousing, and outcomes feed into statewide plans developed with the New Hampshire Housing Finance Authority’s stakeholders. Research collaborations have included think tanks such as the Brookings Institution and academic partners like Dartmouth College.
Critiques echo national debates involving entities such as the National Low Income Housing Coalition and concerns raised in investigations like those involving HUD program administration. Controversies have touched on allocation of Low-Income Housing Tax Credit resources, perceived disparities between urban and rural investment similar to disputes in Massachusetts and Connecticut, and audit findings paralleling issues seen at other state housing agencies. Debates involve municipal officials from places like Keene, New Hampshire and tenant advocacy groups modeled after Housing Justice organizations calling for greater transparency, accountability, and targeted affordability in light of market pressures tied to regional employers such as Dartmouth-Hitchcock Medical Center and sectors like tourism around Mount Washington.
Category:Housing in New Hampshire