08-02-2018-cmf

capital magnet fund (cmf) webinar

8/2/2018

10:00am to 11:00am MT

Presented By:

Terry Barnard

CHFA Community Development

Register here

tbarnard@chfainfo.com

303.297.4866

Event Details:
August 2, 2018
10:00am – 11:00am

Presenters:
Terry Barnard, CHFA Multifamily Production and Outreach Manager
Tim Dolan, CHFA Commercial Loan Officer

Description:
The Capital Magnet Fund program (CMF) helps deepen affordability by providing up to $750,000 in secondary debt to a project. It complements CHFA’s senior debt by streamlining the approval, underwriting, and compliance processes through CHFA while allowing for sufficient project cash flow. We estimate that these resources will help provide housing for approximately 725 Colorado households.

Eligibility
Any project that has received 9% or 4% Low Income Federal Housing Tax Credits (LIHTC) can use this for acquisition, new construction, and rehabilitation.

Benefits
  • Below-market, flexible financing
  • Up to 20% of the loan amount of $750,000 can be in the form of a grant when CHFA is the first mortgage lender;
  • The loan term is 17 years with a 35-year amortization.

As the exclusive allocator of these funds in Colorado, we have just 24 months to get the loans committed. Please join us for the this webinar to learn more about the program details and how to utilize this resource.

Webinar Login Information will be emailed to registrants the day before the event.