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MassDevelopment can help secure funding to get housing developments off the ground with tax-exempt and conventional bond financing, low closing costs, flexible terms, loans, 4% federal tax credits, and access to our Brownfields Redevelopment Fund. Plus, we can help navigate the entire process. With our extensive experience in housing development, we can help at any point in the planning process.
Tax-Exempt Bonds — Used to construct new, affordable rental housing. Interest on the bonds is exempt from federal income taxes – and for certain bondholders is also exempt from state income taxes – resulting in lower interest rates. 4% Federal Low Income Housing Tax Credits — Available for projects where 20% of the units are affordable to renters earning up to 50% of area median income, or 40% of units affordable to renters earning up to 60% of area median income. MATCH Program — Allows access to permanent tax-exempt bond financing, in partnership with the Massachusetts Housing Partnership, of $3 million to $10 million per project for owners of affordable multifamily housing. Bonds are guaranteed by a letter of credit from the Federal Home Loan Bank, giving them a "AAA" credit rating and the lowest possible rates.
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Brownfields Redevelopment Fund — Provides up to $100,000 in financing for environmental site assessments and up to $500,000 for environmental remediation. Site assessment loans are unsecured with no interest charged and remediation loan terms are flexible.
Real Estate Loans — Offer loans, loan participations, and loan guarantees for acquisition, renovation, construction, and permanent financing at mixed-use commercial/industrial and housing projects. Guarantees — Guarantees to $500,000 for a portion of a private loan so that a lender is willing to extend credit.
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| Call 800.445.8030 or click here. |