General Information and Structure
Sustainability features are sometimes included in LISC's financing for affordable housing. When these measures are included, it is often because of developer interest and access to other green incentive funding. Terms for for rental housing loan products are: Bridge: 3 years; Working Capital: 2 years; Predevelopment: 2 years; Acquisition: 3 years; Construction: 3 years; Mini-Perm: 7 years; Permanent: 27 years. Loan Fees: Up to 1.5% of loan amount plus legal fees. Local LISC offices have dedicated green initiatives. Collectively, LISC's NYC and Boston offices have worked with over 70 multifamily housing owners to create healthier housing, track energy and water use, and undertake energy or water saving strategies in over 9,000 apartments (4,000 in NYC; 5,000+ in MA). This work resulted in substantial energy, water and health improvements. (See more under LISC Boston and LISC NYC)