Mnuchin and Trump are teaming up on a commodity futures deal that will provide $15 million in new money for Maryland.
The Maryland program, the Maryland Housing Finance Agency, and the Department of Housing and Urban Development announced Monday they had reached a deal to help provide housing finance to the state as part of Mnuchin’s first major housing overhaul since taking office.
“The Maryland Housing Financing Program is designed to help small and medium-sized businesses that provide affordable housing and other supportive services,” the announcement said.
“This funding will allow us to assist these businesses in the construction and management of new affordable housing projects.”
Mnuchin, who is in Maryland for a White House summit with President Trump, and Trump will sign the agreement.
The two sides will work to finalize details of the agreement, including a timeline for construction and when it will be used to provide housing financing.
“Our two nations are at an important crossroads, and today’s announcement is a critical step toward securing the future of the nation,” Mnuchin said in a statement.
“We look forward to working with the Department and state to make sure Maryland continues to thrive in this time of unprecedented change.”
