In Massachusetts Developer Profile For-profit local developers For - - PowerPoint PPT Presentation

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