Influx of funds allows for an expanding portfolio

Share This Post

NeighborWorks Capital closed a $800,000 enterprise liquidity loan with Community Action Partnership of North Alabama, Inc (CAPNA) in July 2019. Our loan will give CAPNA the funds to improve their operating liquidity and provide a source for predevelopment funding. CAPNA is an active affordable housing developer with an expanding portfolio. This influx of funds will allow CAPNA a significant opportunity to expand its control of the portfolio, by taking 100% ownership as properties exit LIHTC compliance. Securing LIHTC in Alabama requires a significant cash outlay with a deposit of 15% of a LIHTC award ($150k to $250k) held by Alabama HFA for 9 to 12 months prior to closing on the financing.  A secondary use of the loan will be development costs for small single-family projects in Montgomery, usually two-three homes per year where loan funds will bridge committed CDBG/HOME funds. 

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

NeighborWorks Capital Joins Federal Home Loan Bank of Atlanta

NeighborWorks Capital has joined the Federal Home Loan Bank of Atlanta, a cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies that offers competitively-priced financing, as well as affordable housing and community development grants.

Read More »

The Heart and Soul of Affordable Housing in Boulder County, CO

Founded in 1985, Thistle Community Housing is
a non-profit organization and Boulder County’s leading
proponent of permant affordable housing with a mission
to produce, preserve, and protect quality, permanently
affordable rental homes and homeownership opportunities
for moderate and lower-income individuals and families,
seniors, veterans, and people with disabilities.

Read More »