's Together We Can program, we offer technical assistance to experienced nonprofit developers who want to offer their constituents affordable homeownership options.
NCBDC's new initiative called Together We Can, to foster the development of affordable coops by building the capacity of experienced non-profit developers will draw on their experience with UHAB in the TPT program.
The partnership between the UHAB and NCBDC goes back to 1999, with 5 loans totaling $5.6 million to UHAB-sponsored coops, preserving 476 units of affordable housing prior to the current round of transactions.
Launched as a demonstration project in 1992 by NCBDC and funded by RWJF, the program attracted in its first phase an estimated $22 million in grants, tax credits, and mortgages for five projects in southern Illinois, Coloradb, Oregon, and Arkansas.
To initiate Coming Home's new phase of activity, NCBDC distributed a call for proposals (CFP) to state departments overseeing Medicaid and affordable housing.
This first-of-its-kind guide and workbook, developed by NCBDC
and the Charter Friends National Network, is available free-of-charge at www.ncbdc.org.
Funding from the RWJF will be made available through NCBDC in the form of grants and loans for development activities (e.g., project management, feasibility and market studies, architectural and engineering plans); and for project implementation (e.g., pre-development, construction, term, or permanent financing).
Total project funding is expected to come from a blend of applicant equity, foundation grants, and loans, as well as leveraged capital, which may include monies from NCBDC, the Department of Housing and Urban Development, the Farmers' Home Administration Program, State housing financing authorities, local financial institutions, and community support.