housing assistance council
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Housing Assistance Council Building Rural Communities since 1971 NALCAB - National Association for Latino Community Asset Builders Summit El Paso, Texas July 16-17, 2009 Anselmo Telles, SW Regional Director Albuquerque, New Mexico. Housing Assistance Council. - PowerPoint PPT PresentationTRANSCRIPT
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Housing Assistance CouncilBuilding Rural Communities since 1971
NALCAB - National Association for Latino Community Asset Builders Summit
El Paso, TexasJuly 16-17, 2009
Anselmo Telles, SW Regional DirectorAlbuquerque, New Mexico
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Housing Assistance CouncilHousing Assistance CouncilBuilding Rural Communities since 1971
• Established in 1971
• National nonprofit organization
• Created to increase the availability of decent and affordable housing for low-income people in rural areas throughout the U.S.
• Provide services to local, state, and national organizations
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HAC’s MissionHAC’s Mission“To improve housing
conditions for the rural poor, with an emphasis on the
poorest of the poor in the most rural places.”
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Regional OfficesRegional Offices
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Services OfferedServices Offered
• Technical Assistance• Training• Loan Funds• Information & Publications
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Special InitiativesSpecial Initiatives
• CHDO and HOME Technical Assistance • Building Communities in the Lower
Mississippi Delta• Building Capacity in Colonias and
Native American Communities • Border Colonias Initiative• Rural Capacity Building Initiative• Rural Community Development
Initiative
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Training National Conference, Regional Trainings, &
Local Workshops
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Publications & InformationPublications & Information
• Biweekly newsletter
• Quarterly magazine
• Reports
• Manuals
• Information sheets
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HAC NewsHAC News
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Rural VoicesRural Voices
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Information SheetsInformation Sheets
• Rural Housing Needs• HUD Programs• USDA Housing Programs• Special Initiatives• Special Populations
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Other PublicationsOther Publications• Website (www.ruralhome.org) • Rural Housing Service Data• Press Releases
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Loan FundsLoan Funds
HAC provides low-interest loans to finance affordable housing projects in rural communities. Loans are available to support projects at all stages of the development process, from predevelopment through construction.
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Loan Fund’s ObjectivesLoan Fund’s Objectives
• Serve the underserved• Target the highest need communities• Empower low-income people• Facilitate access to credit• Leverage resources• Provide technical assistance• Exercise sound business practices• Promote flexible partnerships
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Eligible BorrowersEligible Borrowers
• Community-based nonprofit organizations• Housing development corporations• Self-help housing sponsors• Farm worker organizations• Housing cooperatives and condo associations• Native American tribes• Public agencies and units of local
government• Public utility districts• Small businesses and minority contractors
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Loan Uses & StructureLoan Uses & Structure
Uses• predevelopment• land acquisition• site development• construction• preservation• gap/interim
Structure• loans• guarantees• compensating
deposits• letters of credit• lines of credit
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Loan Terms & RatesLoan Terms & Rates
• Loans up to five years in duration• Below-market interest (currently 5.0%)
• Interest due quarterly• 1% service fee (borrower also pays HAC's
legal and other reasonable costs)
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Loan Product TermInterest Rate
Service FeeNon-Profit For Profit
Pre-Development Up to 5 years
5% 8% 1%
Site Acquisition Up to 5 years
5% 8% 1%
Site Development Up to 5 years
5% 8% 1%
Construction Varies$750,000
Max
5% 8% 1%
Water/Waste Water Up to 5 years
5% 8% 1%
Preservation Up to 30 Years
5% 8% 1%
Self-Help Housing (SHOP)
2-3 years 0% N/A 1%
Land Banking Up to 10 years
$750,000 Max
5% 8% 1%
Letter of Credit Up to 5 years
$250,000 Max
5% 8% 1%
Line of Credit Up to 5 years
$250,000 Max
5% 8% 1%
HAC Loan Fund at a GlanceHAC Loan Fund at a Glance
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HAC Southwest OfficeHAC Southwest Office
HAC Southwest Office3939 C San Pedro, N. E.Suite 7Albuquerque, NM 87110505-883-1003, fax: [email protected]
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Office LocationsOffice LocationsHAC Southwest Office3939 C San Pedro, N. E.Suite 7Albuquerque, NM 87110505-883-1003, fax: [email protected]
HAC Midwest Office10100 NW Ambassador DriveSuite 310Kansas City, MO 64153816-880-0400, fax: [email protected]
Housing Assistance Council1025 Vermont Avenue, N.W.Suite 606Washington, DC 20005202-842-8600, fax: [email protected] HAC Southeast Office600 West Peachtree Street, NWSuite 1500Atlanta, GA 30308404-892-4824, fax: [email protected] HAC Western Office1025 717 K. StreetSuite 404Sacramento, CA 95814916-706-1836, fax: [email protected]