Mixed Finance Development

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Mixed Finance Development by Mind Map: Mixed Finance Development

1. MF Process for HUD

1.1. PHA Prepares and Submits MF proposal to HUD

1.2. PHA submits draft evidentiary materials

1.3. HUD Approval

1.4. Closing - PHA and partners execute all evidentiary materials

1.5. Post-Closing – PHA submits final binder with copies of all executed evidentiary documents

1.6. HUD reviews, grants final approval and releases HUD funds

2. MF Process for PHA

2.1. Strategic Planning

2.2. Pre-Development

2.3. Development

2.4. Construction

2.5. Occupancy and Operations

3. Key Roles

3.1. Private Sector

3.1.1. Developer/Owner

3.1.2. Investor/Limited Partner

3.1.3. Lender

3.1.4. Property Manager

3.2. PHA

3.2.1. Developer (on own or partner)

3.2.2. Lender (Loan or Grant)

3.2.3. Property Owner

3.2.4. Asset Manager

3.2.5. Property Manager

3.3. HUD

3.3.1. Review MF Proposal and Evidentiary Documents

3.3.2. Presents project to panel review

3.3.3. Reviews accessibility compliance and secures waivers

3.3.4. Coordinates approvals from other HUD offices (demolition, environmental, designated housing, fair housing)

3.3.5. FO review Management documents and adds unit data to PIC housing database

3.3.6. Issues MF Proposal and Evidentiary Approval Letter

4. Benefits of MF Development

4.1. Development of Public Housing using private and public funding where the public housing units are owned by a partnership entity

4.2. Expands PHA Opportunities to provide affordable housing

4.3. Provides additional sources of funding

4.4. Allows PHAs to partner with local government, developers, investors, and residents

4.5. Provides variety of housing: rental and homeownership; market, subsidized and public housing

4.6. Creates mixed income communities

5. MF Regulations and Policy Guidance

5.1. 24 CFR 941 Subpart F

5.2. MF Guidebook

5.3. PIH Notices

5.4. Policy Alerts

5.5. MF HUD Website

5.6. FAQs

6. Key Partners

6.1. PHA

6.2. HUD

6.3. Developer and PHA Consultants

6.4. PH Residents

6.5. State and Local Government

6.6. Syndicators and Investors

7. Funding Sources

7.1. HUD: HOPE VI, Capital Funds, Operating Subsidy, Program Income

7.2. Low Income Housing Tax Credits

7.3. Grants

7.4. Conventional Mortgage