1 / 9

Multifamily Financing Programs

Multifamily Financing Programs. Jim Weglarz. Assisted Projects Session. Manager of Business Development, Multifamily Finance. December 3-4 , 2012. IHDA Resources Tax Credit Programs Relevant Soft Money Programs Tax Exempt Bond Programs A+ Perm Mortgage Program.

karif
Télécharger la présentation

Multifamily Financing Programs

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Multifamily Financing Programs Jim Weglarz Assisted Projects Session Manager of Business Development, Multifamily Finance December 3-4, 2012

  2. IHDA Resources Tax Credit Programs Relevant Soft Money Programs Tax Exempt Bond Programs A+ Perm Mortgage Program

  3. Federal Low Income Housing Tax Credits 9% LIHTCs Key Deadlines: Preliminary Project Assessment – December 13, 2012 Full Application – March 15, 2013 4% LIHTCs Credits given along with Tax Exempt Bonds Must Submit a Preliminary Project Assessment – 30 Days prior to Full Application

  4. State Donation Tax Credits Program Keys: For Non-Profit Organizations 50% of Donation given in the form of a state tax credit Credit can be transferred back to project sponsor

  5. Soft Money Resources & Programs HOME Program Federal Source for affordable housing Greater Income Restriction on Units IL Housing Trust Fund Derived from IL Transfer Tax State Source for affordable housing Permanent Supportive Housing Program State Bond Program to Work with Targeted Populations Currently being reviewed

  6. Tax Exempt Bond Options Construction and Permanent Debt Program along with 4% Credits Conduit Bond Program IHDA allocates against its annual volume cap Defers majority of underwriting to lender Risk Share Bond Program IHDA allocates against its annual volume cap IHDA acts as lender through HUD Risk Share Program

  7. Affordable Plus Perm Mortgage (A+ Mortgage) – Basics and Targets 1st Mortgage Taxable Financing for Affordable Housing New 9% Tax Credit Projects – Forward Commitments 15 Year 9% Tax Credit Projects – Maturing 1st Mortgages 80/20 Properties – Acquisition and Post Rehab Perms

  8. Affordable Plus Perm Mortgage (A+ Mortgage) - Terms Loan Amount = $400,000 to $20,000,000 Loan Term/Amortization = Up to 30 Years DCR/LTV - > 1.15 to 1.25 (For Entire Loan Term) – Loan to Value < 65% > 1.25 (For Entire Loan Term) – Loan to Value <80% Affordability – Minimum 20% @ 80% AMI Recourse – Non-Recourse

  9. Questions?Jim WeglarzManager of Business DevelopmentMultifamily Finance 312-836-5375 jweglarz@ihda.org

More Related