Federal / Agency News
CRA-Driven Predevelopment Financing
Many banks offer predevelopment loans through their community lending programs, especially if the project qualifies for Community Reinvestment Act (CRA) credits.
2025 LIHTC and PAB Multipliers to Boost Development
In a major boost for affordable housing, the LIHTC per-capita multiplier has reached $3 per person for the first time, while the Private Activity Bond (PAB) per-capita multiplier is set at $130 per person for 2025.
Preserving Mixed-Finance Properties
NH&RA’s HOPE VI/Mixed-Finance Working Group, a council formed to find preservation solutions to a portfolio of severely distressed properties, submitted recommendations to HUD last week for criteria it should consider in determining whether a property is eligible for a Section 18 repositioning.
NH&RA’s Forms New CT Council for Housing Production Agency Collaboration
NH&RA’s newly formed membership council, the Connecticut Council for Housing Production, was established to enhance and expand the utility of Connecticut’s current housing programs and streamline the processes.
Enterprise Community Loan Fund
The Enterprise Community Loan Fund (ECLF) is a leading provider of affordable housing financing, focused on creating and preserving affordable homes, especially in underserved communities.
Ford Foundation Affordable Housing Capital
The Ford Foundation provides grants and low-interest loans for predevelopment activities for affordable housing.
LISC Predevelopment Financing
Local Initiatives Support Corporation (LISC) provides flexible predevelopment funding to developers involved in affordable housing.
LIHTC and JV Equity Funds Bolster Affordable Housing
Enterprise has successfully secured over $500 million through the closing of two new affordable housing funds.
NeighborWorks America Funding the Costs to Closing
NeighborWorks America provides predevelopment loan funds to help developers cover early-stage costs associated with affordable housing projects.
The Treasury’s Capital Magnet Fund
The Capital Magnet Fund (CMF), administered by the U.S. Department of the Treasury, aims to support affordable housing development and community revitalization efforts.
HUD’s Recent Housing Investments
The recent announcement of over $279 million in new investments through HUD’s Green and Resilient Retrofit Program (GRRP) represents a significant boost for affordable housing developers, particularly those focused on multifamily rental units.
Funding Predevelopment Costs
Predevelopment funding for affordable projects plays a crucial role in realizing the vision for the projects covering the upfront costs incurred before a project can formally begin.