This Unmute the Mic Town Hall Series explores three creative financing tools that can support your next affordable or workforce housing project.
HUD’s newest twist on the Rental Assistance Demonstration (RAD) Program: the Faircloth-to-RAD Conversion option. This new RAD tool allows housing authorities with existing Faircloth Authority to create new deeply rent-assisted housing. There is existing Federal authority to provide deep rent assistance for nearly 220,000 new units “Faircloth-to-RAD” units. Learn how this new tool works and how developers and PHAs are developing projects today.
Fannie Mae’s Sponsor-Initiated Affordability
Fannie Mae recently announced a new financing product to support workforce housing — its Sponsor-Initiated Affordability (SIA). SIA provides better pricing and underwriting flexibility to incentivize the voluntary creation or preservation of units that are affordable to tenants earning 80% of Area Median Income (AMI) or less. Learn how you can leverage this new product to support your next workforce, mixed-income or naturally occurring affordable housing project.
Property Assessed Clean Energy (PACE)
Property Assessed Clean Energy is a financing mechanism that enables low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects. Property owners love PACE because they can fund projects with no out-of-pocket costs. Since PACE financing terms extend to 20 years, it’s possible to undertake deep, comprehensive retrofits that have meaningful energy savings and a significant impact on the bottom line. Learn how and where multifamily and affordable housing owners are leveraging PACE financing to support their new projects and existing portfolio.
- Thom Amdur, President, National Housing & Rehabilitation Association MODERATOR
- Tom Davis, Director, Office of Recapitalization, U.S. Department of Housing and Urban Development
- Angela Kelcher, Senior Director of Affordable Production, Fannie Mae
- Daniel Rosen, Partner, Klein Hornig LLP
- Sal Tarsia, Managing Partner, CastleGreen Finance, LLC