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Miami Dade County Housing Finance Authority Current Developments

Miami Dade County Housing Finance Authority Current Developments. March 24, 2014. Table of Contents. Loan Underwriting Factors Determining Bond Amount 3 Funding Examples 5. Tax Exempt Bond Financing & Subsidies. Loan Underwriting Factors Determining Bond Amount. Interest Rate.

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Miami Dade County Housing Finance Authority Current Developments

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  1. Miami Dade County Housing Finance Authority Current Developments March 24, 2014

  2. Table of Contents Loan Underwriting Factors Determining Bond Amount 3 Funding Examples 5

  3. Tax Exempt Bond Financing & Subsidies Loan Underwriting Factors Determining Bond Amount • Interest Rate • Term (length) of Loan • Amortization Schedule • Net Operating Income (“NOI”) • Net Operating Income (“NOI”) • Occupancy (and Vacancy) in a Market • Occupancy (and Vacancy) in a Market • Loan to Value Requirement of Lender (“LTV”) • Loan to Value Requirement of Lender (“LTV”) • Debt Service Coverage Requirement of Lender (“DSC”) • Rents in the applicable County which in turn impacts NOI • Income Set Aside (i.e. a development targeted to 60% AMI will support a higher loan than one targeted to 50% AMI etc.)

  4. Tax Exempt Bond Financing & Subsidies New Paradigm Factors Determining Bond Amount • Amount of Housing Credit • Amount of Available Subsidy • Amount of Tax Exempt Bonds to Meet 50% Test

  5. Multifamily Affordable Housing Development Funding Examples La Joya Apartments 150 one, two and three bedroom units SW 268th Street, Naranja Developer: RS Development Corp. Uses Sources

  6. Multifamily Affordable Housing Development Funding Examples Northside Transit Village 100 two and three bedroom units NW 77th Street & NW 31st Ave, Adjacent to the Northside Metrorail Developer: APC Northside Property I Development, LLC

  7. Multifamily Affordable Housing Development Funding Examples Regency Point Apartments 1919-1921 NW 79th Street 5 three-story garden style residential buildings 104 one and two bedroom units Developer: CGS Construction, LLC

  8. Multifamily Affordable Housing Development Funding Examples La Joya Apartments 150 one, two and three bedroom units SW 268th Street, Naranja Developer: RS Development Corp.

  9. Multifamily Affordable Housing Development Funding Examples Northside Transit Village 100 two and three bedroom units NW 77th Street & NW 31st Ave, Adjacent to the Northside Metrorail Developer: APC Northside Property I Development, LLC

  10. Multifamily Affordable Housing Development Funding Examples Regency Point Apartments 1919-1921 NW 79th Street 5 three-story garden style residential buildings 104 one and two bedroom units Developer: CGS Construction, LLC

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