Programs

Opportunity Investment Fund (OIF) Chicago

The Opportunity Investment Fund (OIF), also referred to as the Mezzanine Debt Fund, is administered by Community Investment Corporation (CIC) a Chicago-based community development financial institution (CDFI). The program provides low-cost mezzanine debt to developers acquiring existing, operating rental properties in high-cost Chicago markets. Borrowers must commit to making at … Read more >

Acquisition Opportunity Program (AOP) Boston

The Acquisition Opportunity Program (AOP) is administered by the City of Boston's Mayor's Office of Housing and enables developers to pre-qualify for acquisition funding of up to $100,000 per unit to compete in risking cost markets to preserve rental housing affordability. Pre-qualification requires demonstrated organizational experience, financial capacity, and long-term … Read more >

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 >

Amazon’s Housing Equity Fund Nashville, Seattle, Washington D.C.

In January 2021, Amazon launched the $2 billion Housing Equity Fund with the goal of creating and preserving 20,000 affordable homes across three of its hometown communities, Washington State's Puget Sound region; the Arlington, Virginia/National Capital region; and Nashville, Tennessee, within five years. In June 2024, the company extended the … Read more >

Boston Acquisition Fund (BAF) Boston

The Boston Acquisition Fund (BAF) is a public-private revolving loan fund established by the City of Boston in 2024 and administered by Massachusetts Housing Investment Corporation (MHIC), a CDFI. The fund finances the acquisition and preservation of rental units currently renting below market rates in Boston in rising cost markets. … 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 >

Community Investment Tax Credit Program (CITC) Nashville

The Community Investment Tax Credit (CITC) program, administered by the Tennessee Housing Development Agency (THDA), allows financial institutions to receive a credit against franchise and excise tax obligations when they make qualified loans, investments, grants, or contributions to eligible housing entities engaged in low-income housing activities. The program has been … Read more >

Detroit Housing for the Future Fund (DHFF) Detroit

The Detroit Housing for the Future Fund (DHFF) is a privately managed investment fund administered by LISC Fund Management, LLC, a subsidiary of the Local Initiatives Support Corporation (LISC), that pools private and philanthropic capital to address Detroit's shortage of affordable housing, particularly for households earning between 40% and 60% … Read more >

District Opportunity to Purchase Act (DOPA) Washington D.C.

The District Opportunity to Purchase Act (DOPA) is a preservation tool administered by the DC Department of Housing and Community Development (DHCD) that grants the District of Columbia a right of first purchase when eligible rental properties are offered for sale. DOPA applies to rental properties with five or more … 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 >

Housing Impact Fund (HIF) Charlotte

The Housing Impact Fund (HIF) is a for-profit social impact equity fund established in 2020 to preserve NOAH in rising cost markets in Charlotte, North Carolina. The fund is managed by Ascent Housing, which serves as operating partner responsible for acquisition, financing, renovation, and property management. The fund commits to … 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 >

Market Rate Conversion Program Portland

The Market Rate Conversion Loan Program is one program funded through the through the Oregon Housing Acquisition Fund (OHAF) and is the administered by the Network for Affordable Housing (NOAH), a community development financial institution (CDFI). OHAF is capitalized through a blend of private bank capital, philanthropic grants, and public … 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 >

Naturally Occurring Affordable Housing Acquisition, Rehabilitation, and Subsidy Program Charlotte

The NOAH Acquisition, Rehabilitation, and Subsidy Program is a public-private partnership administered by the City of Charlotte to acquire and preserve unsubsidized affordable rental housing in rising cost markets using a combination of public and private financing. The program originated as a pilot under the Housing Charlotte Framework, adopted by … 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 >

Pathway Housing Fund (PHF) Nashville

The Pathway Housing Fund (PHF) is a $30 million private capital fund launched in 2024 by Pathway Lending, a Tennessee-based community development financial institution (CDFI). The fund is designed to preserve unsubsidized affordable rental housing across Tennessee that is at risk of market conversion due to gentrification and rising land … 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 and Medium Multifamily (SMMF) Loan Program Minneapolis

The Small and Medium Multifamily (SMMF) Loan Program is a partnership among Land Bank Twin Cities, the Local Initiatives Support Corporation (LISC), and the City of Minneapolis to preserve small and medium multifamily rental properties (2–49 units) in Class B and C buildings without existing government subsidy. The Land Bank … Read more >

Small Buildings Program (SBP) Washington D.C.

The Small Buildings Program (SBP) is administered by the DC Department of Housing and Community Development (DHCD) Housing Preservation Unit and comprises two subprograms: the Small Housing Provider Grant and the Small Property Loan Program. The Small Housing Provider Grant provides up to $65,000 per unit, capped at $400,000 per … Read more >

Small Landlord Fund Pittsburgh

The Small Landlord Fund, administered by the Urban Redevelopment Authority (URA) of Pittsburgh, provided 0% interest deferred-payment loans of up to $20,000 per unit to landlords owning ten or fewer rental units for property repairs, upgrades, and conversion of vacant or market-rate units to affordable housing. Borrowers were required to … 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 >

Texas Housing Conservancy Fund Austin

The Texas Housing Conservancy Fund is an open-ended social impact private equity fund managed by the Texas Housing Conservancy (TxHC), a 501(c)(3) nonprofit founded in 2016 in Austin, Texas. The fund pools capital from high-net-worth individuals, family offices, foundations, institutional investors, and bank CRA programs to acquire existing market-affordable multifamily … Read more >

The Life Initiative (TLI) Statewide, Boston

The Life Initiative (TLI) is a Massachusetts-based investment fund established in 1999 under Chapter 259 of the Massachusetts Acts of 1998 and initially capitalized at $100 million for a 25-year period by life insurance companies. TLI provides a range of financing products, including predevelopment, acquisition, construction, bridge, and working capital … Read more >