2008 CAPER Tables - MFA - Housing New Mexico

Objective 2 - Produce lending activity of $75mm for the
construction/renovation of rental housing through tax exempt financing,
Access loans, Risk Share, HOME,LIHTC, Primero, HTF and NM Affordable
Housing Tax Credit programs.
State Tax Credit
Risk Share (tax exempt and taxable)
Primero
LIHTC
HTF
HOME - MF
Total
$10,000,000
$1,000,000
$60,000,000
$1,000,000
$3,000,000
Oct-2007
125,000
0
200,000
0
0
0
325,000.00
Nov-2007
Strategies
5
1-Request $45mm of MF PAB cap, target $25mm to be MFA issued
0
0
0
0
0
0
0.00
Dec-2007
0
0
0
42,905,460
0
490,000
43,395,460.00
Objective Status
Objectives 2 & 3 - $73.6mm in production Met the first two tiers. All other Strategies Met. ET has determined that this Objective has
been tier met.
Met
Jan-2008
0
0
0
6,410,870
0
366,000
6,776,870.00
Feb-2008
0
0
0
0
0
385,000
385,000.00
Mar-2008
0
0
0
0
0
0
0.00
Apr-2008
0
0
0
0
0
0
0.00
May-2008
0
0
0
10,028,940
750,000
500,000
11,278,940.00
Jun-2008
0
2,305,000
0
0
751,018
2,161,662
5,217,680.00
Jul-2008
0
670,000
0
0
0
0
670,000.00
MFA received allocations of bond cap for several projects this fiscal year. One has been delayed due to RD approvals. The other two did not close due to market conditions despite
significant work by staff. $8mm is anticipated to close before the end of the year.
2-Prepare to foster development of supportive housing to fill the growing need.
This FY: revised HOME policy to allow grants for projects serving very low income, developed programs to allocate BHC funding provided by the State, four of the six tax credit
applications awarded this year are providing social services to tenants, staff is participating in the Housing First task force, and changes have been proposed to the QAP to support
special needs housing initiatives.
3-Research role MFA can play to fill crucial housing needs fostered by material changes in economic development activity
Staff met with partners in these areas to train and discuss options for MFA financing for housing development.
4-Target outreach and training efforts.
This fiscal year numerous tax credit trainings were provided at a variety of forums. Staff also provided training for CHDO's, at NAHRO, and at Lorman. Targeted trainings were
provided for a variety of partners including Silver City area providers and the Laguna board.
5-Collect information regarding amount and condition of existing PHA housing stock, to then encourage the use of our resources to rehab these units.
Several meetings have occurred with Region VI to discuss options for rehabilitating multifamily properties they own. Financing was provide for an existing project for SFCHA and we
continue to work with them on future projects as well.
Aug-2008
267,000
0
0
0
0
0
267,000.00
Sep-2008
0
0
307,200
4,991,110
0
0
5,298,310.00
Target Date
Not Met
Target Date
Met
Target Date
Met
Target Date
Met
Target Date
Met
Total
392,000.00
2,975,000.00
507,200.00
64,336,380.00
1,501,018.00
3,902,662.00
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