Michigan CDFI Coalition’s Post

We talk about housing a lot, and at the heart of these conversations is a simple belief: If you work in Jefferson County, you should be able to afford to live here too. The Diverse Housing Opportunities priority is a call to expand housing options at all price points. There's no quick fix to the housing shortage, but one tool is the Live Local Development Fund, a revolving loan fund launched last Fall to help fill the gaps that limit housing development in the county. Learn more at: https://bit.ly/4aMAuWK

🏡✨ Exciting News Alert! 🌟🔧 Located in Madison, Wisconsin, a local housing cooperative was in need of a total replacement for a failed boiler. Working with a local nonprofit, the pair was in need of additional financing to fund home and comfort upgrades to the coop. Enter BlocPower with an innovative financing tool to make boiler replacement and other home improvements affordable. The Challenge: - A failed boiler in the housing cooperative meant an urgent need for total replacement. - Both the housing cooperative and local nonprofit lacked the funding tools necessary to make upgrades possible. The Solution: - BlocPower crafted the BlocPower Lease to make the cost of upgrades affordable. - $288,000 in grant funding was acquired to upgrade 24 units with energy-efficient technology, reducing carbon emissions for the coop. #ctoalumnisuccess https://lnkd.in/e-nWSJp7

We've partnered with Federal Home Loan Bank of Des Moines to support community food banks and affordable housing initiatives through impact grants, just in time for the holidays. Read article: https://brnw.ch/21wPFPu Member FDIC

📣 Did you say 40 years?! 🤯 Yes, that’s right! North Avenue Capital offers USDA-guaranteed loans with terms up to 4️⃣0️⃣ years for projects that provide essential services to rural communities. 👉 Through the USDA Community Facilities Loan Program, NAC provides financing for nonprofit organizations, public bodies, and federally recognized tribes to fund the construction, improvement, or refinancing of community-related projects. Examples of essential community facilities include hospitals, fire stations, colleges, museums, utility and public works vehicles, community centers, libraries, and food distribution centers, just to name a few. 🏥🚒📚🍉 For a true partner in securing funding for your community project, Look North. 🧭 Learn more about USDA CF Loans from NAC. ⤵️ https://lnkd.in/dsqmcD5H … #looknorth #usda #usdacfloans #usdacf #cfloans #communityfacilities #publicsafetyloans #collegefinancing #universityfinancing #healthcareloans #usdaloanprograms #financialservices #lending #rural #ruralamerica

This Veterans Day, let’s honor our heroes by helping them achieve their dreams of homeownership. 🏡💙 Veterans, there are special programs just for you—like the VA Home Loan, local grants, and nonprofits ready to assist. Homeownership isn’t just about having a place to live; it’s about stability, investment, and a bright future. Explore these benefits today and take the next step toward your own home! Learn More: https://lnkd.in/gGU4qS6G #VeteransDay #HomeownershipForHeroes #RealEstate #VeteransSupport #VAHomeLoan #MilitaryHomeownership #VeteransBenefits #ServingThoseWhoServed #HomesForHeroes #HonorOurVeterans #RealEstateBenefits #HomebuyingJourney #ThankYouVeterans #MilitaryFamilies #HomeownershipDream #SupportingVeterans #HomeownershipJourney #RealEstateTips

We teamed up with Enterprise Community Loan Fund, Inc. to revitalize 170 affordable housing units at College Parkway Place in Annapolis, MD. This $4 million investment—with Partners contributing $1.9 million—ensures that all units will be reserved for Section 8 tenants earning 30–60% AMI. The renovations include energy-efficient upgrades like ENERGY STAR windows and doors, plus new community amenities: a fitness center and computer room! Stay connected: https://lnkd.in/ebhrqpBM

IF YOU ARE NOT PART OF A PERMANENT AND LASTING SOLUTION TO THE AFFORDABLE HOUSING CRISIS AND HOMELESSNESS, YOU ARE THE PROBLEM! THE AFFORDABLE HOUSING INDUSTRIAL COMPLEX IS BROKEN AND NOT WORKING FOR AMERICAN TAXPAYERS Veteran Housing Corp would ask every TAXPAYER to demand and get answers from their elected and appointed government officials the below questions as they relate to any affordable, workforce, or supportive housing project in your community! 1. How much local, state, and federal funding, tax credits, or other government benefits or incentives did the project receive? 2. What is the affordability period for each project? Is the affordability period permanent and in perpetuity? 3. What guarantees exist have your local, state, and federal government officials obtained in writing that rents will not go up or that tenants will not be displaced or evicted after the "affordability period expires? Every local, state, and federal housing authority and affordable or workforce housing stakeholder should adopt the State of Vermont's "permanent affordability" policy as a model for all future government funded or subsidized housing projects or developments, no exceptions! https://lnkd.in/eFEUC8c8 Additionally, local, state and federal housing agencies should look to the Helsinki, FINLAND MODEL of ending homelessness by providing affordable housing for all 'It’s a miracle': Helsinki's radical solution to homelessness https://lnkd.in/er9HZSQU Even the U.S. Department of Housing and Urban Development AGREES THAT adopting FINLAND'S MODEL OF ERADICATING HOMELESSNESS may be of great value to resolving the affordable housing and homelessness crises in America https://lnkd.in/gkSZWYRU

This Veterans Day, let’s honor our heroes by helping them achieve their dreams of homeownership. 🏡💙 Veterans, there are special programs just for you—like the VA Home Loan, local grants, and nonprofits ready to assist. Homeownership isn’t just about having a place to live; it’s about stability, investment, and a bright future. Explore these benefits today and take the next step toward your own home! Learn More: https://lnkd.in/gcPBjix9 #VeteransDay #HomeownershipForHeroes #RealEstate #VeteransSupport #VAHomeLoan #MilitaryHomeownership #VeteransBenefits #ServingThoseWhoServed #HomesForHeroes #HonorOurVeterans #RealEstateBenefits #HomebuyingJourney #ThankYouVeterans #MilitaryFamilies #HomeownershipDream #SupportingVeterans #HomeownershipJourney #RealEstateTips

HUD Launches New Program to Invest in Manufactured Home Communities The U.S. Department of Housing and Urban Development, through the Federal Housing Administration (FHA), last week announced the launch of its new Manufactured Home Community loan product, which will provide an FHA-insured financing option for the purchase, refinance, and revitalization of manufactured home communities. Under this new program, which is now available, certain mission-focused entities such as resident-owned manufactured home communities, cooperatives, non-profit entities and consortia, state and local governments, community development financing institutions, and Indian Tribes, will be eligible to use this program to finance the acquisition of or to improve existing communities, including making updates to common area resources and helping to maintain rent affordability. This tool provides an alternative to purchase of these communities by private equity funds and similar financial interests, whose track record reportedly includes unaffordable rent increases, failure to invest in community infrastructure, and regulations that don’t respect the community’s culture.

Community win for Santa Cruz County, California! Last week, LIIF’s Pam Berkowitz (photo, fourth from right) took part in the groundbreaking of Bluffs at 44th in Capitola. Our #CDFI partnered on this impactful deal that will bring 36 units of #affordablehousing to Santa Cruz County by next year. We are excited that those in the 30%-50% Area Median Income level will call Bluffs at 44th home, with nine two-bedrooms and 12 three-bedrooms offering families the room they need.    For this transaction, LIIF provided a secured $3.5 million acquisition loan and a $750,000 unsecured predevelopment loan. Additionally, the Golden State Acquisition Fund – a state collaborative of eight CDFIs for which LIIF serves as loan administrator – provided $885,875, which was 25% of the acquisition loan. This enabled a higher loan-to-value of 95%.   California Department of Housing & Community Development   #CDFIs #lending #lendingsolutions #communitydeveopment