General Information and Structure
Lender:
National Housing Trust Community Development Fund
Lending Type:
CDFI
Jurisdiction:
National
The proceeds of a green retrofit loan will be used to fund the installation of energy and water conservation measures. The loan will be sized to be repaid by a combination of existing cash flow and anticipated savings produced by the conservation measures. Commons Energy is NHTCDF's partner in D.C., MD, VA, and VT targeting buildings that serve a public purpose. It provides technical assistance for opportunity assessment, contractor selection, construction oversight, and access to financing through NHT Community Development Fund. In several cases, the borrower has borrowed funds from NHTCDF and Commons Energy has purchased a 75% participation in the loans.
Active or Closed Program?:
Active
Years Offered:
2015
Eligibility Criteria:
Multi-family residential rental projects. At least 75% of the units must be occupied by residents that are at or below 80% of AMI, either at least 20% of the units are occupied with residents at 50% of AMI, or 40% of the units are occupied at 60% AMI.
Type of Financing:
Mini-Permanent/Permanent
Loan Size Range:
$50,000 to $500,000
Type of Improvements Covered:
Loans fund hard and soft cost associated with energy retrofits to existing affordable multifamily housing
