MassDevelopment Supporting Affordable Housing In Massachusetts
Developer Profile • For-profit local developers • For profit national developers • Local non-profit developers • Local CDCs • Housing Authorities
Projects • 40B permit, 80/20 deals • Non-40B 80/20 • Preservation/Expiring Use • Housing Authority • Senior Housing • Assisted Living • CCRC
Programs • Bond Amounts < $5 million – Direct purchase – local banks, MATCH, LITE Bond • Bond Amounts > $5 million – Direct purchase – Bank and Non-bank lenders • Credit Enhancement, usually > $5million – FHA Insurance (“AAA”) – FNMA/FHLMC (“AAA”) – FHLB (“AAA”) MATCH Program – Bank Letter-of- Credit (“AA” or less) • Fixed and variable rate options • Interest rate caps and swaps
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