GLFSGreat Lakes Forecasting System
GLFSGrande Loge Feminine de Suisse (French: Women's Grand Lodge of Switzerland)
References in periodicals archive ?
Although the typical CLT lease runs for 99 years, GLFs will incorporate 30 years' worth of lease cash flows, corresponding to the maturity of long-term corporates and Treasuries.
While it is always possible that GLFs might be placed with an investor who is willing to accept a below-market yield, the Trust anticipates that most GLFs will be funded by investors who are looking for a market balance of risk and return.
Banks will view GLFs as attractive CRA assets, since the only concession they are making is putting a long-term fixed-rate asset on the books (versus higher-risk or lower-yield CRA loans).
While GLFs will primarily be used as market-rate funding vehicles, nonprofit housing developers need to exploit a spectrum of financing products, with outright donations lying at the opposite extreme.
Since CLT leases have a minimum term of 99 years, while GLFs are structured to mature in 30 years, the Trust has at least another 69 years of cash flow available for sale.
GLF securities: A breakthrough in affordable housing finance
As an example, consider an existing Trust development that currently supports a GLF maturing in the year 2025.