Cluster 6

Property Tax Incentive for Affordable Rental Housing Chicago, Statewide

The Property Tax Incentive for Affordable Rental Housing is a statewide property tax incentive in Illinois, implemented at the county level through individual County Assessor's offices. In Cook County, the incentive is called the Affordable Housing Special Assessment Program (AHSAP). Properties must have seven or more residential units and involve … Read more >

Boston Acquisition Fund (BAF) Boston

The Boston Acquisition Fund (BAF) is a public-private revolving loan fund established by the City of Boston in 2024 and administered by Massachusetts Housing Investment Corporation (MHIC), a CDFI. The fund finances the acquisition and preservation of rental units currently renting below market rates in Boston in rising cost markets. … Read more >

Navigator Pre-Development Loan Hartford, Pittsburgh, Washington D.C.

The Navigator Pre-Development Loan is part of a broader suite of innovative financing products designed to connect property owners with technical assistance and funding to implement energy efficiency and climate resiliency retrofits. Created by Inclusive Prosperity Capital (IPC), a nonprofit specialty financing intermediary, the product is implemented in collaboration with … Read more >

Housing Impact Fund (HIF) Charlotte

The Housing Impact Fund (HIF) is a for-profit social impact equity fund established in 2020 to preserve NOAH in rising cost markets in Charlotte, North Carolina. The fund is managed by Ascent Housing, which serves as operating partner responsible for acquisition, financing, renovation, and property management. The fund commits to … Read more >

Income-Eligible Multi-Family Retrofit Program (IEMF) Boston

The Income-Eligible Multi-Family Retrofit Program (IEMF), administered under the Mass Save® collaborative of Massachusetts electric and natural gas utilities, provides no-cost or incentivized energy efficiency improvements to affordable multifamily properties. Eligible properties must have five or more units with at least 50% of units occupied by households at or below … Read more >

Low-Income Rental Classification (LIRC) Statewide, Minneapolis

Administered by Minnesota Housing, the state’s housing finance authority (HFA), the Low Income Rental Classification (LIRC) Program provides that qualifying low-income rental properties are eligible for property use classification that has a lower tax class rate thereby reducing the property tax obligation for a given property. This property use classification … Read more >

Multifamily Energy Savings (MFES) Regional, Chicago

The Multifamily Energy Savings (MFES) program is a utility-delivered energy efficiency initiative serving affordable multifamily properties in northern Illinois, administered jointly by ComEd, Peoples Gas/North Shore Gas, and Nicor. The program provides comprehensive, building-wide upgrades, including building envelope, HVAC, and domestic hot water systems, in both tenant units and common … Read more >

Multifamily Property Tax Exemption (MFTE) Statewide, Portland, Seattle

The Multifamily Property Tax Exemption (MFTE) Program is a statewide framework established by the Washington State Department of Commerce in 1995 to incentivize multifamily housing investment through temporary property tax exemptions on residential improvements, implemented by participating cities and counties. Property owners are exempt from taxes on residential improvements for … Read more >

NOAH Impact Fund Minneapolis

The NOAH Impact Fund is a private equity fund administered by Greater Minnesota Housing Fund (GMHF), a statewide community development financial institution (CDFI), to preserve the long-term affordability of naturally occurring affordable housing (NOAH) in opportunity areas across the Twin Cities region. The fund launched in 2017 with NOAH Pool … Read more >

Pathway Housing Fund (PHF) Nashville

The Pathway Housing Fund (PHF) is a $30 million private capital fund launched in 2024 by Pathway Lending, a Tennessee-based community development financial institution (CDFI). The fund is designed to preserve unsubsidized affordable rental housing across Tennessee that is at risk of market conversion due to gentrification and rising land … Read more >

Property & Casualty Initiative (PCI) Loan Fund Boston

The Property and Casualty Initiative, LLC (PCI) is a statewide community loan fund established in 1999 under Chapter 259 of the Massachusetts Acts of 1998 by a consortium of Massachusetts-based property and casualty insurance companies. PCI provides financing for affordable housing, community services, economic development, and small business lending to … Read more >

Regional Naturally Occurring Affordable Housing (NOAH) Fund Boston

The Regional NOAH Fund is a revolving debt program administered by Massachusetts Housing Investment Corporation (MHIC), a community development financial institution (CDFI) founded in 1993, to support the acquisition of unsubsidized multifamily properties across Massachusetts. The fund provides senior and subordinate debt at below-market rates for terms of up to … Read more >

Rental Improvement Fund (RIF) Philadelphia

The Rental Improvement Fund (RIF) is administered by the Philadelphia Housing Development Corporation (PHDC) and provides loans to small property owners for health, safety, habitability, energy, and water efficiency repairs. Eligible borrowers must own no more than 15 rental units across no more than five properties. Loan amounts range from … Read more >

Small and Medium Multifamily (SMMF) Loan Program Minneapolis

The Small and Medium Multifamily (SMMF) Loan Program is a partnership among Land Bank Twin Cities, the Local Initiatives Support Corporation (LISC), and the City of Minneapolis to preserve small and medium multifamily rental properties (2–49 units) in Class B and C buildings without existing government subsidy. The Land Bank … Read more >

Small Landlord Fund Pittsburgh

The Small Landlord Fund, administered by the Urban Redevelopment Authority (URA) of Pittsburgh, provided 0% interest deferred-payment loans of up to $20,000 per unit to landlords owning ten or fewer rental units for property repairs, upgrades, and conversion of vacant or market-rate units to affordable housing. Borrowers were required to … Read more >

Small Property Acquisition Fund (SPAF) Pilot Statewide, Boston

The Small Property Acquisition Fund (SPAF) is a statewide program administered by the Community Economic Development Assistance Corporation (CEDAC), a community development financial institution (CDFI), on behalf of the Massachusetts Executive Office of Housing and Livable Communities (EOHLC). The program supports nonprofit acquisition of small residential properties to prevent displacement … Read more >