2008 Meeting Dates

Delaware County Housing Development Corporation (DCHDC) is a Pennsylvania

non-profit Corporation formed in 1983 by Delaware County Housing Authority (DCHA) to develop,

 acquire, own, operate and sell housing for low and moderate income families in Delaware County.

DCHDC owns and operates 153 units of rental housing, has developed and sold Eight (8) newly constructed single family homes, and owns and participates in a Supportive Housing Program

for mentally handicapped individuals.

DCHDC’s largest rental community, Fairground Annex, contains 119 townhouses

acquired from the Township of Chester in the mid 1980's.  Chester Township continues to hold the mortgage on this property.  Approximately 95% of the tenants of this

community received tenant based Section 8 assistance.

Two of DCHDC’s communities, Noscow Apartments in Marcus Hook Borough,

Delaware County and 649 Main Street in Darby Borough, Delaware County, comprising a total of 24 units were acquired and rehabilitated by DCHDC using a tax exempt qualified Bond issued and held by First Union Bank.  The original Bond issued in May of 1989 was refinanced in September 1994 to take

 advantage of lower interest rates.

DCHDC’s affordable housing sales program began in May of 1996 with the

construction of four single family homes on lots owned by DCHDC in the South Media neighborhood of Nether Providence Township. These homes were sold to low income families in DCHA’s Section 8 or Public Housing Program.  Below market interest rate mortgages were arranged by DCHDC through Corestates (now First Union Bank) and Jefferson Bank.  Four additional single family homes were developed by DCHDC on a private cul-de-sac in the Borough of Media on property donated by a local businessman. An existing home with two lots was acquired in Upper Lower Chichester Township.  The existing home was renovated and two new homes were constructed.  The two new homes were sold to first time homebuyers with incomes less than 100% of median

income. These properties were sold to low income first time homebuyers with below

market interest rate mortgages from Jefferson Bank.

DCHDC is participating in a limited partner with Pennrose Equities in its Studevan School project.  DCHDC will provide resident and management services as required.

DCHDC has just completed a Supportive Housing Program collaborating with the County of Delaware, Delaware County Housing Authority, the Delaware County office of Mental Health, and Horizon House (a behavioral health provider).  This project involved acquisition and ownership of Four (4) separate properties in Three municipalities by DCHDC.  Rehabilitation, maintenance and management of the property by DCHA and Supportive Services provided by Horizon House.  All properties are now occupied by mental health consumers. Horizon House maintains supportive Service staff at one property to service all four sites.  Financing for this project came from a HUD Supportive Housing Program Grant, Delaware County Home Funds, and an

Equity contribution from DCHDC.

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