Strategy HC2.1: Identify local funding sources for residential or commercial projects that meet locally-set affordability criteria. Identify ways for developers to connect to these funding sources.
Local funding for affordable and/or sustainable housing development comes from a variety of private- and public-sector sources. Connecting developers to these funding streams is a key component of a region’s affordable housing approach. Local funding strategies include connecting non-profits with local lenders to provide pre-development and acquisition financing, general obligation bonds issued by local governments to support locally-set standards, and creation and expansion of housing trust funds.