Neighborhood Allies, LISC and NEF Host HUD Financing WorkshopLeave a Comment
On Tuesday, March 15th, we co-hosted, with our allies at Local Initiatives Support Corporation (LISC) and National Equity Fund (NEF), Recapitalization Pathways for HUD Assisted Housing at the Kaufmann Center in the Hill District.
Approximately 50 individuals, representing community organizations, community development corporations, local developers and real estate professionals came out to learn how to preserve, recapitalize, and improve performance of existing affordable multi-family housing in our community. The workshop provided property owners and other stakeholders with information, tools and resources including various HUD financing programs, Section 8 vouchers and equity sources
Celia Smoot, Director of LISC Housing, kicked off the morning session, speaking to the importance of affordable multi-family housing developments in our communities. Celia shared her extensive real estate finance background, specifically in the areas of affordable housing and community development, by presenting real life case studies as examples and coaching the attendees through exercises which focused on various financial analysis tools.
During lunch, Dave Doray from Pennsylvania Housing
Finance Agency (PHFA) discussed Qualified Allocation Plan updates and the status of relevant state funding programs. After lunch, Tony Lyons from the National Equity Fund provided an overview of current Low Income Housing Tax
Credits (LIHTC) market, pricing, and trends.
Celia and Tony finished off the day presenting some tips for successful contract renewals and walking the attendees through exercises in which they had to recalculate different types of HUD loans and options for building the capital stack.
A special thank you goes to our event sponsors, BNY Mellon and NEF, for their generous support!