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Housing Assistance CouncilBuilding Rural Communities since 1971

NALCAB - National Association for Latino Community Asset Builders Summit

El Paso, TexasJuly 16-17, 2009

Anselmo Telles, SW Regional DirectorAlbuquerque, New Mexico

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Housing Assistance CouncilHousing Assistance CouncilBuilding Rural Communities since 1971

• Established in 1971

• National nonprofit organization

• Created to increase the availability of decent and affordable housing for low-income people in rural areas throughout the U.S.

• Provide services to local, state, and national organizations

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HAC’s MissionHAC’s Mission“To improve housing

conditions for the rural poor, with an emphasis on the

poorest of the poor in the most rural places.”

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Regional OfficesRegional Offices

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Services OfferedServices Offered

• Technical Assistance• Training• Loan Funds• Information & Publications

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Special InitiativesSpecial Initiatives

• CHDO and HOME Technical Assistance • Building Communities in the Lower

Mississippi Delta• Building Capacity in Colonias and

Native American Communities • Border Colonias Initiative• Rural Capacity Building Initiative• Rural Community Development

Initiative

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Training National Conference, Regional Trainings, &

Local Workshops

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Publications & InformationPublications & Information

• Biweekly newsletter

• Quarterly magazine

• Reports

• Manuals

• Information sheets

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HAC NewsHAC News

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Rural VoicesRural Voices

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Information SheetsInformation Sheets

• Rural Housing Needs• HUD Programs• USDA Housing Programs• Special Initiatives• Special Populations

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Other PublicationsOther Publications• Website (www.ruralhome.org) • Rural Housing Service Data• Press Releases

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Loan FundsLoan Funds

HAC provides low-interest loans to finance affordable housing projects in rural communities. Loans are available to support projects at all stages of the development process, from predevelopment through construction.

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Loan Fund’s ObjectivesLoan Fund’s Objectives

• Serve the underserved• Target the highest need communities• Empower low-income people• Facilitate access to credit• Leverage resources• Provide technical assistance• Exercise sound business practices• Promote flexible partnerships

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Eligible BorrowersEligible Borrowers

• Community-based nonprofit organizations• Housing development corporations• Self-help housing sponsors• Farm worker organizations• Housing cooperatives and condo associations• Native American tribes• Public agencies and units of local

government• Public utility districts• Small businesses and minority contractors

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Loan Uses & StructureLoan Uses & Structure

Uses• predevelopment• land acquisition• site development• construction• preservation• gap/interim

Structure• loans• guarantees• compensating

deposits• letters of credit• lines of credit

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Loan Terms & RatesLoan Terms & Rates

• Loans up to five years in duration• Below-market interest (currently 5.0%)

• Interest due quarterly• 1% service fee (borrower also pays HAC's

legal and other reasonable costs)

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Loan Product TermInterest Rate

Service FeeNon-Profit For Profit

Pre-Development Up to 5 years

5% 8% 1%

Site Acquisition Up to 5 years

5% 8% 1%

Site Development Up to 5 years

5% 8% 1%

Construction Varies$750,000

Max

5% 8% 1%

Water/Waste Water Up to 5 years

5% 8% 1%

Preservation Up to 30 Years

5% 8% 1%

Self-Help Housing (SHOP)

2-3 years 0% N/A 1%

Land Banking Up to 10 years

$750,000 Max

5% 8% 1%

Letter of Credit Up to 5 years

$250,000 Max

5% 8% 1%

Line of Credit Up to 5 years

$250,000 Max

5% 8% 1%

HAC Loan Fund at a GlanceHAC Loan Fund at a Glance

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HAC Southwest OfficeHAC Southwest Office

HAC Southwest Office3939 C San Pedro, N. E.Suite 7Albuquerque, NM 87110505-883-1003, fax: 505-883-1005southwest@ruralhome.org

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Office LocationsOffice LocationsHAC Southwest Office3939 C San Pedro, N. E.Suite 7Albuquerque, NM 87110505-883-1003, fax: 505-883-1005southwest@ruralhome.org

HAC Midwest Office10100 NW Ambassador DriveSuite 310Kansas City, MO 64153816-880-0400, fax: 816-880-0500midwest@ruralhome.org

Housing Assistance Council1025 Vermont Avenue, N.W.Suite 606Washington, DC 20005202-842-8600, fax: 202-347-3441hac@ruralhome.org HAC Southeast Office600 West Peachtree Street, NWSuite 1500Atlanta, GA 30308404-892-4824, fax: 404-892-1204southeast@ruralhome.org HAC Western Office1025 717 K. StreetSuite 404Sacramento, CA 95814916-706-1836, fax: 916-706-1849western@ruralhome.org