One of the best things about fall is the return of football: There’s nothing like the thrill of watching your team hustle all season and pull out victories in the fourth quarter. As we enter our own fourth quarter this year, the MAH team feels the same sense of excitement, and with your support, we could finish 2019 with some big wins and head into 2020 ready to tackle more.
We’ve been talking about the recent FHFA announcement a lot recently. As you’ve heard, FHFA released new multifamily volume caps for Fannie Mae and Freddie Mac. This new loan purchase cap is $100 billion for the five-quarter period of October 1, 2019 through December 30, 2020.
Of that $100 billion, 37.5% must be mission-driven business. As you heard from Jeff, that 37.5% is a floor, not a ceiling. Affordable business is at the heart of what we do, and we will continue to prioritize your deals every day. Bring us your business, and we’ll do all we can to win it.
We want to continue to be your partner of choice. Show us your deals, especially:
- Special Public Purpose
- Rental Assistance Demonstration (RAD)
- Affordable Preservation in LIHTC, Section 8, HUD 202 and USDA Section 515
- New Construction Forwards
In Minnesota, we recently closed on a great deal comprised of Community Plaza in St. Paul and Galway Place in Coon Rapids. This $7.97 million deal with Jones Lange LaSalle combined M.TEB and Healthy Housing Rewards™ Enhanced Resident Services to provide 76 units across two properties. One hundred percent of the units are affordable at 60% AMI and eight units have been set aside for formerly homeless families who will have full access to onsite supportive services.
We love combining the benefits of M.TEB with Green or Healthy Housing Rewards or all three! Our execution delivers low-cost financing and rewards sponsors who deliver services that improve the quality of life of the residents. Contact your deal team for help with ways to combine Healthy Housing Rewards, Green Financing, or both with our affordable products. We’re here to help you with creative financing options.
Join us in Chicago!
We are looking forward to seeing you during the AHF Live! Conference November 18-20 in Chicago. We want to talk to you about how we can be even better partners and do more affordable and mission-rich business in 2020. We’re hosting a reception again this year on November 18 and we want you to be there!
We’re ready to make creative plays and are eager to shake up the field. Let’s continue our great work together!