Heres an update on funding alternatives for housing as I learn more and more all the time. Trying to put them in simple terms (but this is ever-changing as we learn more and there are twists to each): 1. Funding from PHFA and OCED for large-scale projects of 50 or more units because this is the break-even point for developers. 2. Funding from a donor or benefactor or foundation for projects under the developer break-even point. 3. Funding from parents - They put up the equity themselves for a single home idea for 4 individuals or even anything up to the magic break-even point that developers have. 4. Funding using the Consolidated waiver (which pays for housing costs if house is licensed as a group home) 5. Funding using housing choice vouchers (a.k.a. Section 8) Notes: -The project Roy Diamond is doing in Allegheny County is only 42 units, 50% set aside for persons with autism. No shortage of interest in the equity market. -Trinity house had less than 20 units & David Gates got tax credits from PHFA (but this was unusual).
Posted on: Mon, 29 Sep 2014 21:33:04 +0000
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