The Foundation continues to promote Federal, state and local policies that preserve and upgrade the existing inventory of assisted affordable multifamily housing.  Since its inception the Foundation has continued to be an advocate on issues pertaining to expiring Section 8 contracts, contract funding renewals, affordable housing preservation tax policy, and viable debt structuring and underwriting criteria.

In these difficult economic times, there is an additional tangible economic benefit provided through preservation transactions – the creation of real jobs.   In a recent 204 unit preservation transaction involving low income housing tax credits, 289 jobs were created with direct involvement in the on-site rehabilitation of the property.  The City, County and the State also benefited from the taxes and fees associated with the property rehabilitation. An income revenue stream was also generated to other professionals – underwriters, bond counsel, accountants, attorneys, surveyors, engineers, architects, energy analysts, appraisers – involved directly with the transaction and well as to the suppliers of the materials used in the rehabilitation.

The Foundation has been and will continue to be an active partner with a variety of localities and state housing finance agencies in implementing policies and procedures necessary for structuring sound preservation transactions involving ownership entities that will commit to maintain the low income affordable use of the properties for the long-term.

The Foundation’s vast experience with financing techniques includes:

  • Multi-layered Public-private Debt & Equity Structuring
  • Federal Low Income Housing Tax Credits (4% & 9%)
  • U.S. Treasury Equity Investment (New Market Tax Credits)
  • Fixed Rate and Variable Rate Tax Exempt Bonds
  • HUD 236, 223(f), 221(d)(3) and (d)(4), IRP, IRP Decoupling,
  • HOME, CBDG, TCAP, Tax Increment Financing, Structuring of PILOTS (Payment in Lieu of Taxes)

The Foundation can provide technical assistance to nonprofit organizations, community development corporations, governmental agencies and others with respect to the acquisition, development, management and/or financing of decent, affordable housing.  Examples of ways in which the Foundation can assist include:

  • Joint Venture Opportunities
  • Nonprofit Sponsor & Platform
  • Tax Credit Equity
  • Mezzanine and Bridge Loans
  • Interim Deal Settlements/Take-down Structure
  • Predevelopment Loans
  • Development Services
  • Construction Management Services
  • “Green” Sustainable Design & Construction with Work
  • Involving the Department of Energy (Weatherization Program), Federal and State Tax Credits for Solar and Geothermal Projects
  • Development and Administration of Social Services Programs