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Community Developments Investments (March 2017)

Preserving Affordable Housing: Innovative Partnerships header
A Look Inside …
National banks and federal savings associations are using innovative approaches to help preserve the nation’s supply of affordable multifamily rental properties, ranging from predevelopment financing to new debt products and mission-driven equity investment structures.
  Preservation of Affordable Housing image
Preserving America’s Affordable Rental Housing: The Role of the Nation’s Banks
Multifamily housing preservation is a preeminent affordable housing policy goal, and national banks and federal savings associations can play essential and profitable roles.
  St. Dennis Apartments, a Washington, D.C., historic low-income housing tax credit property
HUD’s Rental Assistance Demonstration Program Creates Opportunity
The U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration program helps match private capital with long-term public subsidies to finance extensive rehabilitation of aging, assisted housing projects.
  Fort Henry Gardens, in Arlington, Va
How Affordable Housing Qualifies for Community Reinvestment Act Consideration
National banks and federal savings associations may earn Community Reinvestment Act consideration for supporting affordable housing that serves the needs of low- or moderate-income individuals.


  Friendship Court, a 150-unit low-income housing tax credit property in Charlottesville, Va.,
Preservation of LIHTC Properties: Year 15 Considerations
Low-income housing tax credit (LIHTC) property owners must properly manage the tax compliance risk when exiting LIHTC deals or transferring ownership, which is essential to ensuring the preservation of these properties.
  Skyview Park Apartments, a 188-unit affordable housing property in Scranton, Pa.

Banks and the Recapitalization of Existing Affordable Housing
PNC Bank has supported affordable housing preservation by actively investing in LIHTC transactions and expanding its syndication platforms.

  Bolton North Apartments, a senior-housing community in Baltimore, Md.
Minnesota Partnership Helps Preserve Rural Housing
To address affordable housing preservation challenges in rural areas when U.S. Department of Agriculture Section 515 subsidies expire, banks and state housing programs are offering innovative multifamily financing solutions.
  Prairie Rose Apartments, in Red Lake Falls, Minn.
Freddie Mac’s Role in Preserving Multifamily Affordable Rental Housing
Freddie Mac financed more than $5 billion in affordable rental housing in 2015 and is developing financial strategies to drive more investment capital into this market.
  San Francisco affordable housing unit

New Fannie Mae Product Helps in Efforts to Preserve Affordable Housing
Fannie Mae offers flexible refinancing tools to support affordable housing preservation, streamline small multifamily rental financing, and provide loan solutions for energy-efficient multifamily properties.

  Woodland Towers, in Collinsville, Ill.