Progress is being made, additional resources are being sought out, and new opportunities are being explored – all in the face of the obstacles life presents. This article, with the help of Stephen McMurray, the plus in NHA+, will help you understand what all that means. There are three resources. to be investigated.
1. Our developers have a meeting with the Proud Ground team on 7/24 to talk about this project and other partnership opportunities. It is important that we get their input (market, finance structure, etc) and support for this before we move much further along. The meeting took longer than expected to get scheduled due to vacations. NHA+ feels like they’ll have a much more solid financial model and development strategy after we talk with their team.
2. There is a Federal Home Loan Bank (FHLB) training/forum over the next couple of weeks. Participation in this by NHA+ will provide them with better understanding of these new resources.
3. With the passage of HR1 in Salem, there are new financing tools for affordable housing. The Oregon housing agency is currently developing protocols for those resources and hope to have important information by the end of July.
You can see that, while our Housing Team has not met in June or July, our developers have been quite busy – reaching out, expanding their knowledge and preparing for a new legislation. In conclusion, this latest turn of events reinforces the idea that we have enlisted the best project planners whom we call NHA+! Hopefully the August meeting will be a big next step in our affordable housing project.