Cluster 3

Property Tax Incentive for Affordable Rental Housing Chicago, Statewide

The Property Tax Incentive for Affordable Rental Housing is a statewide property tax incentive in Illinois, implemented at the county level through individual County Assessor's offices. In Cook County, the incentive is called the Affordable Housing Special Assessment Program (AHSAP). Properties must have seven or more residential units and involve … Read more >

Navigator Pre-Development Loan Hartford, Pittsburgh, Washington D.C.

The Navigator Pre-Development Loan is part of a broader suite of innovative financing products designed to connect property owners with technical assistance and funding to implement energy efficiency and climate resiliency retrofits. Created by Inclusive Prosperity Capital (IPC), a nonprofit specialty financing intermediary, the product is implemented in collaboration with … Read more >

Built to Last Philadelphia

Built to Last is an energy efficiency and home preservation initiative coordinated by the Philadelphia Energy Authority (PEA), an independent municipal authority established by Philadelphia City Council in 2010. The program launched as a pilot in 2021 and serves owner-occupied properties whose owners earn below 200% of the Federal Poverty … Read more >

Green Cost Share Minneapolis

The Green Cost Share program is administered by the City of Minneapolis to connect commercial and multifamily property owners with funding for energy efficiency upgrades and solar installations. Properties with five or more units are eligible. The base incentive provides a city match of 20% of total project cost, up … Read more >

Income-Eligible Multi-Family Retrofit Program (IEMF) Boston

The Income-Eligible Multi-Family Retrofit Program (IEMF), administered under the Mass Save® collaborative of Massachusetts electric and natural gas utilities, provides no-cost or incentivized energy efficiency improvements to affordable multifamily properties. Eligible properties must have five or more units with at least 50% of units occupied by households at or below … Read more >

Local Rental Owners Collaborative (LROC) Los Angeles

The Local Rental Owners Collaborative (LROC) was launched in Los Angeles in 2020 to support small rental property owners who charge below-market rents, with a focus on communities facing displacement pressures. The program was developed in response to the COVID-19 pandemic and is led by the Coalition for Responsible Community … Read more >

Low-Income Rental Classification (LIRC) Statewide, Minneapolis

Administered by Minnesota Housing, the state’s housing finance authority (HFA), the Low Income Rental Classification (LIRC) Program provides that qualifying low-income rental properties are eligible for property use classification that has a lower tax class rate thereby reducing the property tax obligation for a given property. This property use classification … Read more >

Multifamily Energy Savings (MFES) Regional, Chicago

The Multifamily Energy Savings (MFES) program is a utility-delivered energy efficiency initiative serving affordable multifamily properties in northern Illinois, administered jointly by ComEd, Peoples Gas/North Shore Gas, and Nicor. The program provides comprehensive, building-wide upgrades, including building envelope, HVAC, and domestic hot water systems, in both tenant units and common … Read more >

Multifamily Loan Program & Property Management Training Chicago

Community Investment Corporation (CIC) is a Chicago-based community development financial institution (CDFI) providing financing for multifamily housing across Chicago and surrounding communities. Founded in 1974, three years before the Community Reinvestment Act (CRA), CIC was created as a vehicle for banks to deliver rehabilitation financing to Chicago neighborhoods facing disinvestment. … Read more >

Multifamily Property Tax Exemption (MFTE) Statewide, Portland, Seattle

The Multifamily Property Tax Exemption (MFTE) Program is a statewide framework established by the Washington State Department of Commerce in 1995 to incentivize multifamily housing investment through temporary property tax exemptions on residential improvements, implemented by participating cities and counties. Property owners are exempt from taxes on residential improvements for … Read more >

NOAH Impact Fund Minneapolis

The NOAH Impact Fund is a private equity fund administered by Greater Minnesota Housing Fund (GMHF), a statewide community development financial institution (CDFI), to preserve the long-term affordability of naturally occurring affordable housing (NOAH) in opportunity areas across the Twin Cities region. The fund launched in 2017 with NOAH Pool … Read more >

North Lawndale Impact Program Chicago

The North Lawndale Impact Program is a targeted lending initiative administered by Community Investment Corporation (CIC), a Chicago-based community development financial institution (CDFI), to support the acquisition and rehabilitation of existing multifamily rental properties in the North Lawndale neighborhood of Chicago. The program offers fixed-rate construction loans at 5.5% for … Read more >

Preservation of Existing Affordable Rental (PEAR) Pilot Chicago

The Preservation of Existing Affordable Rental (PEAR) Pilot Program was established by the City of Chicago in 2018 to preserve affordable housing in rising cost neighborhoods. The program provided zero-percent interest rate refinancing of private-sector debt on residential properties with six or more units, with the requirement that at least … Read more >

Property & Casualty Initiative (PCI) Loan Fund Boston

The Property and Casualty Initiative, LLC (PCI) is a statewide community loan fund established in 1999 under Chapter 259 of the Massachusetts Acts of 1998 by a consortium of Massachusetts-based property and casualty insurance companies. PCI provides financing for affordable housing, community services, economic development, and small business lending to … Read more >

Regional Naturally Occurring Affordable Housing (NOAH) Fund Boston

The Regional NOAH Fund is a revolving debt program administered by Massachusetts Housing Investment Corporation (MHIC), a community development financial institution (CDFI) founded in 1993, to support the acquisition of unsubsidized multifamily properties across Massachusetts. The fund provides senior and subordinate debt at below-market rates for terms of up to … Read more >

Rental Improvement Fund (RIF) Philadelphia

The Rental Improvement Fund (RIF) is administered by the Philadelphia Housing Development Corporation (PHDC) and provides loans to small property owners for health, safety, habitability, energy, and water efficiency repairs. Eligible borrowers must own no more than 15 rental units across no more than five properties. Loan amounts range from … Read more >

Small Property Acquisition Fund (SPAF) Pilot Statewide, Boston

The Small Property Acquisition Fund (SPAF) is a statewide program administered by the Community Economic Development Assistance Corporation (CEDAC), a community development financial institution (CDFI), on behalf of the Massachusetts Executive Office of Housing and Livable Communities (EOHLC). The program supports nonprofit acquisition of small residential properties to prevent displacement … Read more >