b'Eugene YoungDirector, Delaware State Housing AuthorityThe Delaware State Housing Authority (DSHA) was created in 1968 as a public corporation in the Delaware State Department of Housing. In 1970, DSHA becameIn addition to its role as the states housing finance agency, DSHA uniquely serves part of the Department of Community Affairs and later, in 1987, joined the Delawareas a public housing authority and a community development and planning agency. Economic Development Office. Recognizing the critical services provided by DSHA, Governor Thomas R. Carper established DSHA as an independent authority in theAs a public housing authority, DSHA receives funding from the U.S. Department Executive Department in 1998, with its director, Susan Frank, reporting directly toof Housing and Urban Development (HUD) to build, own, and operate public the governor as a member of the cabinet. This historic step cemented the role ofhousing in Kent and Sussex counties, two of Delawares three counties. The Housing affordable housing as a critical aspect of state policy. Management division of DSHA administers both the Housing Choice Voucher Program (formerly Section 8) and the Moving to Work Program, and oversees The mission of DSHA is to efficiently provideand assist others to provide resident services for these housing sites. quality, affordable housing opportunities and appropriate supportive services to low- and moderate-income Delawareans. The Housing Development division oversees the acquisition and rehabilitation of affordable rental and for-sale homes, financing, predevelopment loans, challenge Today, DSHAs assets have grown to more than $500 million, as the organizationgrants, tax-credit compliance monitoring, and state housing code enforcement. is experiencing the most significant period of growth since 1975, when DSHA firstThe Housing Development division administers the Housing Development Fund, began issuing tax-exempt revenue bonds. the Low-Income Housing Tax Credit Program, and HOME Programs. It also helps DSHA bond-financed properties, provides project-based rental assistance for DSHA has the power to make loans and grants to both for-profit and nonprofitnon-DSHA-owned subsidized rental sites, and liaises with HUD.housing sponsors; to make loans to mortgage lenders and require that they use the proceeds to make new residential mortgage loans; to apply for and receive subsidiesDSHA is committed to responding to the changing needs of families and individuals from the federal government and other sources; and to issue its bonds and notes. throughout the state and looks forward to the challenges ahead and to working in partnership with other affordable-housing providers to achieve even greater A DSHA mortgage is a 30-year fixed-rate loan with interest rates at or below theefficiency and increased performance.standard market rate for qualified buyers. The agency offers down-payment and closing-cost assistance through the Preferred Plus program.More information on DSHAs homeownership programs can be found at www.kissyourlandlordgoodbye.com. Delaware Three Rivers Area Economic Development Master Plan 170'