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Equity with a Twist: The Low Income Investment Fund’s Social Capital Tool

November 2, 2017

The Low Income Investment Fund (LIIF) is a community development financial institution (CDFI) dedicated to providing innovative capital solutions that create a bridge between private capital markets and low income neighborhoods. The organization strives to create pathways for investors in projects t … Continued

Federal Housing Finance Options for Mixed-Use Development

September 13, 2017

Federal housing finance policies and programs exist to provide financing for the acquisition and construction of homes and boost investment in the housing industry. While a variety of housing loan products exist, a report released by the Regional Plan Association (RPA) in February 2016 highlighted t … Continued

Boosting LIHTC: Difficult Development Areas & Qualified Census Tracts

May 9, 2017

The Low-Income Housing Tax Credit (LIHTC) program was designed to encourage the private development of affordable rental housing in the United States. (If you are new to LIHTC, check out the CED blog’s primer on low-income housing tax credits before proceeding.)   But even with the dollar-for-dollar … Continued

How a Mezzanine Loan Can Reduce Equity Requirements, Boost Returns, and Attract Investment to a Redevelopment Project

March 23, 2017

The Parker Building is a two-story, 8,000-SF brick building in downtown Milliganton, NC. The building is subdivided into two small retail tenant spaces, but for the most part it is an empty shell. Despite having been mostly vacant for the last several decades, the building is in good shape.  A recen … Continued

A Little Slice of Heaven: A Primer on Air Rights in Development

March 2, 2017

Common law holds that once person owns a piece of land “it is theirs all the way to Heaven.” In a modern development environment, however, the transfer of air rights—fee simple title to a three dimensional space located at a precisely defined location—between owners is becoming increasingly common. … Continued

Renewed Funding Extends New Market Tax Credit Program Through 2019

July 21, 2016

The CED blog has previously written about the importance of New Market Tax Credits, and their place in the process for developing real estate transactions (a primer can be found here, and a discussion of the process for investment can be found here).  Briefly, these credits are designed to drive cap … Continued

Report: The Unintended Consequences of Housing Finance

April 7, 2016

The Unintended Consequences of Housing Finance is a recent report by the Regional Plan Association that addresses the negative externalities of certain federal housing finance rules, and myriad methods to address these externalities through rule changes and amendments. Perhaps it is not immediately … Continued

Tools for financing development in revitalization areas: HUD Multifamily Loan Products

March 8, 2016

Many people are familiar with HUD FHA mortgage insurance programs for single-family housing. These programs insure mortgages for lenders providing loans to single-family home borrowers and have been a significant driver in shaping the housing and mortgage markets in the United States over the last 8 … Continued

U.S. EDA Resources Help Communities Build the Local Ecosystem for Sustainable Economic Development

February 2, 2016

It takes a multitude of resources, dedicated professionals, and committed organizations to promote economic development. Successfully realizing the economic potential of a place requires doing the hard work of leveraging all existing regional assets to build the environment, or ecosystem, where busi … Continued

Many Mini-Bonds in the Mile High City

November 25, 2014

$12 million in one hour: That’s not a report of the ticket sales for the Garth Brooks and Trisha Yearwood’s Greensboro show last week. That is how much the City of Denver raised directly from the citizens of Colorado for the final phase of its Better Denver capital campaign. This past August, the Ci … Continued