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Developing Affordable Housing A Practical Guide for Nonprofit Organizations

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ISBN-10: 0471593621

ISBN-13: 9780471593621

Edition: 10th 1993

Authors: Bennett L. Hecht

List price: $120.00
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Book details

List price: $120.00
Edition: 10th
Copyright year: 1993
Publisher: John Wiley & Sons, Incorporated
Publication date: 1/28/1994
Binding: Hardcover
Pages: 499
Size: 7.50" wide x 10.25" long x 1.50" tall
Weight: 2.530
Language: English

BEN L. HECHT is an experienced nonprofit executive, author, and social entrepreneur. He founded One Economy Corporation in 2000 to bring the power of the Internet and the economic mainstream to low-income families living in affordable housing across the country. In five years, One Economy has earned the support of America's leading foundations and corporations, brought high-speed Internet to $2 billion of newly constructed affordable housing, and helped more than eight million low-income people to help themselves at www.theBeehive.org. In 2005, One Economy also began working abroad in South Africa and Jordan. Immediately before One Economy, Mr. Hecht was senior vice president at the…    

Getting Started
Developing Affordable Housing in the Twenty-First Century
Introduction
The Current State of America's Affordable Rental Housing
The State of America's Working Poor Seeking Affordable Housing
Current Trends in Affordable Housing
Unique Opportunities for Nonprofit Organizations: Rental and Homeownership
The Real Estate Development Process for Nonprofit Organizations: An Overview
Nonprofit Organizations and the Real Estate Development Process
An Overview of the Real Estate Development Process
Addressing the Specific Needs of a Community and a Specific Project Site
Establishing the Development Team
In General
The Sponsor
The Financial Development Specialist
Attorneys
Accountant/Bookkeeper
Architect
Property Management Company
General Contractor
Construction Manager
Community Organizer
Appraiser
Conflicts, Multiple Roles, and Oversight
Projecting Costs, Income, and Expenses
Project Feasibility and Total Development Costs
Project Feasibility Defined
Determining Preliminary Project Feasibility
Estimating Total Development Costs
Sample Letter of Value
Summary of Key Federal Regulations Governing Underground Storage Tanks
Summary of Relevant Laws and Regulations Governing Lead-Based Paint
Determining Projected Income and Expenses
Introduction
Projecting Income-Generally
Identifying Targeted Income Levels
Determining Affordability as a Percentage of Income and Market Rents
Income from Nonresidential Use
Projecting Expenses-Generally
Evaluating Past Operating Expenses
Projecting Expenses Where No Operating History Exists
Allowances and Reserves
The Role of Lenders
Controllability of Expenses
Raising Capital
Raising Capital to Meet Total Development Costs
Introduction
Sources of Capital-Generally
Loans
Grants
Equity and Sales Proceeds
Example of an Amortizing Loan
Example of a Nonamortizing Loan
Sources of Capital: Loans
Who are Possible Lenders?
Sources of Loan Funds from Public Lenders-Generally
Sources of Loans from State and Local Governments
Sources of Loans from the Federal Government
Sources of Loan Funds from Private For-Profit Entities
Sources of Loan Funds from Private Nonprofit Entities
501(c)(3) Bond Terminology
List of Local CDFI Organizations Financing Housing
Sources of Capital: Grants
Grants from the Federal Government
Grants from State and Local Governments
Grants from Private Nonprofit Foundations
Grants from For-Profit Corporations
Sources of Capital: Equity
Creation of an Equity Fund for Housing Development
Use of the Low-Income Housing Tax Credit
Other Equity Sources
Tax Credit Information Resources List of State and Regional Tax Credit Equity Funds
Partial Listing of Low-Income Housing Tax Credit Tax Syndicators
Sources of Capital: Public Housing Funds