BET9九州体育 has made the process easier than ever to get public financing. Apply today to get PILOT’s, Bonds, and/or Tax Credits to fund your next housing project. Submit a pre-application today to see if your project qualifies to enter our program. We’re here to help you navigate public financing. If you have any questions, please contact Derek Gauthier at firstname.lastname@example.org.
What is the Multifamily 开发者计划, and what is its purpose?
The Multifamily 开发者计划 was developed to provide tax-exempt bond financing, property tax exemptions (PILOTs) and green infrastructure loans to increase the supply of sustainable affordable housing. The program is also intended to provide the City and BET9九州体育 with local control over affordable housing development.
What is the benefit of receiving PILOTs, and/or Bonds and Tax Credits through BET9九州体育?
The basic reason affordable housing developers seek property tax relief from the City is to offset the loss in rental income created by offering below market leases to families in need. BET9九州体育’ PILOT product is structured to meet this basic need while generating a positive return on investment for taxpayers. The process for acquiring a property tax exemption from BET9九州体育 is designed to be fair, transparent and based on predictable market factors. Our primary goal is to stimulate affordable housing development while generating a reasonable market-based financial benefit for taxpayers.
What are the different bond options offered through the Multifamily 开发者计划?
不同的债券选择是 多户住房债券, Industrial Development Bonds, as well as 501 (c)(3)债券. 多户住房债券 allow the developer access to tax-exempt bonds to finance low-income multifamily and senior housing projects. A qualified developer can finance a project at a lower interest rate than available through conventional financing because the interest paid to bondholders is exempt from federal income tax. 工业发展债券(IDBs) allow manufacturers to finance projects at a lower interest rate than conventional financing because the interest paid to the bondholders is exempt from federal income tax. 最后 501 (c)(3)债券 allows any nonprofit organization designated as a 501(c)(3) by the Internal Revenue Service the option to finance a project at a lower interest rate than available through conventional financing because the interest paid to bondholders is exempt from federal income tax.
What are the different Tax Credit options offered through the Multifamily 开发者计划?
The Low Income Housing Tax Credit (LIHTC) Program, is designed to subsidize either 30% or 70% of the costs in a low-income unit rental project. 30%的补贴, 通常称为“自动4%税收抵免”,” is for new construction that includes additional subsidies or that can be used for the acquisition cost of existing buildings. 70%的补贴, 或者“9%的税收抵免”,” supports new construction that does not include any additional federal subsidies.
How long does the process take for receiving PILOTs, and/or Bonds and Tax Credits through BET9九州体育?
Receiving only a PILOT for a project through BET9九州体育 can take between 60-90 days once the Full Application has been received. To receive both Bonds and PILOT for a project can take between 6-9 months, due to the additional process conducted by the Louisiana Housing Corporation (LHC).
What information is required to begin the application process for the Multifamily 开发者计划?
Initially an applicant/developer must submit a Pre-Application, which was developed to outline all the items that are required and necessary for a project to be approved and selected to advance to the Application Process. 例如, Pre-Application包括, 但不限于, 项目总结, 要求融资, 项目的叙述, 项目的好处, 以及项目成本.
What is the upfront cost to putting together a deal for an affordable housing project?
Generally the cost could range from 150K-300K per project.
What are the cost associated with applying for the Multifamily 开发者计划?
Once a developer advances to the Application Process and submits their application, 需要1500美元的申请费.
Who should I contact with any additional questions or concerns regarding the Multifamily 开发者计划?
Our Business Development Assistant Derek Gauthier is the point of contact for any questions or concerns regarding the program. 可以通过 email@example.com.
*All of these questions are subject to current guidelines.