1. September 16, 2011
Beaufort Presentation to Financial Institutions

2.  Non Profit 501(c)3 community development loan fund
 U.S. Treasury certified Community Development Financial
Institution (CDFI)
 Mission is to be an affordable housing advocate and lender
 Goal is to leverage local government funding with federal,
state, and private market funds to finance affordable housing
development
 Staff of 4
 20 member Board of Directors
 10 member Loan Review Committee

4. U.S. Treasury
$2M
Opportunity Local
Finance Governments
Network $500K $500K
Lowcountry Housing
DEBT Foundations
Trust EQUITY
State
$500K Revolving Loan Fund Government
$500K
Financial
Institutions Other Grants
$500K $500K

5. Equity Debt
Notes
Grants
PRI
Contributions
EQ2
40% 60%

6. Local
City of Charleston $889,000
Charleston County $650,000
City of North Charleston $325,000
Town of Mount Pleasant $100,000
Georgetown County $100,000
State
South Carolina State Housing Finance $1,000,000
NSP $7,409,679
Federal
HUD $396,800
U.S. Treasury $3,742,000
Private
Foundations/Business $575,000
Financial Institutions $300,000

7. 94 loans to developers
100 loans to homebuyers
$13.2 million in community development financing
$101 million in affordable housing developments
750 affordable housing units
1,615 families and individuals served
2,125 jobs created

8. Type - acquisition, infrastructure, construction, mini-perm
Units – homeownership, rental, transitional
Borrowers – for profit, non profit, government entities
Size - $10,000 to $250,000
Terms - 12 to 60 months
Rates – prime up to 2 points over prime
Security – Note, Mortgage, & Restrictive Covenant

9.  Loans to Developers
• Construction and Permanent Loans
• Blended Rate Loans
• Loan Participation Pool
• LIHTC and NMTC Financing
 Loans to Lowcountry Housing Trust
• Increase Capital Available in Revolving Loan Fund
• Program Related or Equity Equivalent Investment
• $100,000 for 10 years at 2% interest
• $25,000 operating grant
• CRA Investment and Lending Credit
 Service on LHT Board or Loan Committee

10.  CDFI Bond Guarantee Program
• $3B allocated in bond financing to CDFIs
• LHT will make larger loans
• LHT will make longer term loans
• LHT will seek coordinated housing efforts in targeted
communities
• LHT will seek broader community impacts
 Project Rebuild
• $15B for community redevelopment
• Similar to Neighborhood Stabilization Program (NSP)
• LHT awarded $7.4M in NSP1 funds
• Vacant, Abandoned, Blighted, & Foreclosed Properties
• Residential, Commercial, and Mixed Use Properties

11. Financing of
Affordable
Housing
Housing
Finance
Energy
Business
Efficiency
Finance
Finance
Community
Development
Financing of Financing of
Working Financing Energy Efficient
Capital to Improvements
Developers
Healthy
Commercial
Financing of Food
Finance Financing of
Food Finance
Mixed Use
Enterprises
Developments

12. Homebuyer Assistance Program
$25,000
Down Payment & Closing Costs

13. Rosemont
NSP Redevelopment Properties
by City of Charleston

14. Willow Trace at Windsor Hill
Multi Family Rental Development
By Douglas Company

15. Peecksens Court
Single Family Development
by Humanities Foundation

16. Builders Blitz
Single Family Development
by
East Cooper Habitat for Humanity

17. Seven Farms Apartments and Seven Farms Village
LIHTC Family and Senior Development
Daniel Island

18. 4224 Grimke Street
NSP Rehabilitation Property
by Charleston Area CDC

19. HOPE IV Project
Spring Creek at Horizon Village
Mixed Income Homeownership Development
By North Charleston Housing Authority

20. Michelle A. Mapp, Executive Director
michelle@lowcountryhousingtrust.org
Patrick King, Lending Director
patrick@lowcountryhousingtrust.org
843.973.7285