|
Products
|
Offered by
|
Description
|
Eligible Users**
|
| Acquisition Bridge and Pre Development Lines or Loans
|
Bank and LISC |
Financing for early development costs of new construction
or acquisition of existing, residential real estate. Borrower funds
a portion of total requirement. Not a grant. |
LHAs and affiliates and developers / owners of public
purpose affordable housing or other developments of community significance.
|
| Working Capital Lines |
Bank of America |
Highly flexible source of funding for a variety of uses
including predevelopment, acquisition bridge activity, training programs,
etc. Repaid from operating activity and/or other long term funding
source. Not a grant. |
Stable business entities, including LHAs and their affiliates,
who can demonstrate reasonable repayment capabilities. |
| Tax Credit Equity |
NEF and Bank |
Source of project equity used with low-income housing
or historic properties. Requires award by state agency. |
LHAs and affiliates and developers / owners of affordable
MF housing or historic properties. |
| Capital Grant Loans |
Bank of America |
Allows a LHA to borrow against future public housing
Capital Grant amounts. Proceeds may only be used for public housing
Capital Grant eligible purposes. Includes "HOPE VI like" mixed finance initiatives sponsored by a LHA. May be structured as
a tax exempt loan or bond financing. |
LHAs only. |
| Bond Financing |
Bank of America (via Banc of America Securities) |
Permanent or construction and permanent financing of
residential real estate. Credit support usually required (see Construction
Loans and Term Debt below). |
LHAs and affiliates and owners / developers of residential
real estate. |
| Construction Loans |
Bank and LISC |
Full development cycle funding for residential and commercial
real estate construction. Available as funded loan or letter of credit.
Generally requires committed take out funding. |
LHAs and affiliates and owners / developers of commercial
and residential real estate. |
| Term Debt |
Bank and LISC |
Permanent funding for stabilized residential and commercial
real estate. May be combined with construction funding. Most Bank
long term debt products are supplied in partnership with third parties. |
LHAs and affiliates and owners / developers of commercial
and residential real estate. |
| AHP Grant Sponsorship |
Federal Home Loan Banks (via Bank of America) |
Competitively awarded funding for acquisition or development
of affordable housing, rental or homeownership. Typically provides
not more than 5-7% of total required funding. |
LHAs and affiliates and owners/developers of residential
real estate. |
| Assessment and Help Getting Started |
NAHRO and LISC |
Organizational assessment, evaluation and orientation
for LHAs seeking to begin or significantly increase a commitment to
development activity. |
LHAs and other not for profit organizations. |
| Training / Capacity Building |
LISC and NAHRO |
Training, conferences, distance learning and other services
as appropriate. Most offered on fee for service basis. Not a grant. |
LHAs and other not for profit developer / owners of
real estate. |
| Transaction Execution Support |
Bank, LISC, and NAHRO |
Assistance in development and funding packaging on a
transaction specific basis; counseling for "stuck" transactions.
Fee for service development consulting. Not a grant. |
LHAs and other not for profit developer / owners of
real estate. |
** Access Alliance services and products are available only to NAHRO member agencies.
