Development & Bond Projects
Watch the video interview with Mayor John Gettys and Executive Director Dewayne Alford discussing developing Affordable Housing in Rock Hill and how Rock Hill Housing's ability to issue bonds will help develop more Affordable Housing in Rock Hill.
The Housing Authority of Rock Hill, South Carolina has a principal purpose overcoming the shortage of decent, safe and sanitary housing that can be afforded by persons of low and moderate income. The Authority's stated mission is to "provide safe, decent and sanitary housing conditions for very low income families and to manage resources efficiently and to promote personal, economic and social upward mobility to provide families the opportunity to make the transition from subsidized to unsubsidized housing."
Additionally, The Authority seeks to provide affordable, quality housing options and programs that promote self-sufficiency and assist in addressing the needs of low-income, very low-income and extremely low-income families in the City of Rock Hill and York County.
In 1986, the South Carolina Legislature granted city, county and regional housing authorities such as the Authority the same powers that the State Housing Finance and Development Authority (SCSHFDA) has to issue multifamily housing revenue bonds on behalf of for-profit and nonprofit developers. (Act No. 369 of 1986; S.C. Code Section 31-13-90). In order to fulfill this purpose, the Authority intends to issue its bonds and other obligations to finance developments (i) in which it has direct interest (as owner, lessee, manager, or otherwise) and (ii) in which it does not have a direct interest (as a "conduit lender").
Please see the Bond Guidelines adopted (i) to provide procedural and substantive guidance to developers applying to the Authority for financial assistance through the issuance of the Authority's multifamily housing revenue bonds and (ii) to guide the Authority in its review and evaluation of such applications. The Authority's primary focus in making a decision as to whether to participate in a financing will be the affordability of the units and the feasibility of the development. Our guidelines do not establish mandatory or exclusive standards or procedures.
The Authority may refuse to pursue the financing of any development or the issuance of its multifamily housing revenue bonds at any time for any reason in its sole and absolute discretion.