NHT Announces Green Loan Program

By Donna Kimura

The National Housing Trust has announced a new short-term loan program to encourage the preservation of affordable housing using environmentally friendly strategies.

The Green Affordable Housing Preservation Lending Initiative will require developers to work with green experts to determine how green elements can be incorporated into their project’s design.

The National Housing Trust Community Development Fund will provide below-market predevelopment and interim development loans to nonprofit affordable housing developers who seek to incorporate green building techniques when rehabilitating existing affordable housing. Loans of up to about $110,000 are expected to be available, with terms of 12 to 18 months for predevelopment loans and 18 to 36 months for interim development loans.

Under the program, a portion of the loan may be forgiven when the developer demonstrates having incorporated environmentally friendly design elements into the property.

A grant from the Home Depot Foundation is helping to capitalize the program. For more information, visit www.nhtinc.org.

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