Community Action Program of North Alabama (CAPNA) closed a $926,000 mini-permanent loan that will be used to refinance $900,000 of existing debt for a year 15 LIHTC property and fund closing costs and immediately needed repairs. Pecan Cove Apartments was completed in 2007 and provides 60 affordable apartments for families in Mobile, Alabama. This mini-permanent loan will be an interim financing solution for CAPNA as it prepares to resyndicate the property.
Final FHFA Rule on Racial Equity, Language Access, and Fair Lending Oversight Will Aid Underserved Communities
A coalition of affordable housing and civil rights organizations applaud an announcement from the Federal Housing Finance Agency (FHFA) finalizing a rule on fair housing, fair lending, and equitable housing finance (EHF). The FHFA’s new rule on EHF plans will provide greater market access to underserved communities.