How Closing with Public Dollars Can Be a Game Changer
The purpose of this article is to provide you with some insight into a lesser known world of real estate professionals seeking funds and opportunity from the government. Imagine investing in real estate deals using “other people’s money”. Sure, you hear that all the time, but what if the “other people” include local, state and federal government agencies?
As I write to you this month, I sit in my office overlooking the herring run. It’s a sunny day and it’s hard not to wish the warmer weather that has been teasing us this winter to become a permanent fixture as spring and summer knock on our door! As I start to daydream, I am thinking about those long hot days of summer sipping on a cool refreshing beverage on Cape Cod. My mind journeys further into a European Holiday in the fall. What a great life! BAM
The phone rings and I snap back into reality. We are sitting on a truckload of transactions that need to be completed in our shop over the next five days. The office is crazy and people are yelling at me to move quicker and stop staring out the window. “Sean, can you look at this?” “Sean, call on Line 2”, “Sean, it’s the contractor for Bell, can you talk?”
WASHINGTON – As part of the Obama Administration’s effort to prevent and effectively end homelessness, the U.S. Department of Housing and Urban Development announced today that it will offer $1.9 billion for fiscal year 2015 to support existing and new homelessness programs. Funded throughHUD’s Continuum of Care (CoC) Homeless Assistance Program Notice of Funding Availability (NOFA), this notice will further incentivize local applicants to pursue permanent housing using a Housing First approach to target their resources to proven strategies.
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro, Detroit Mayor Mike Duggan, U.S. Senators Debbie Stabenow and Gary C. Peters, and Congressman John Conyers, Jr., announced the allocation of $8.9 million from the Community Development Block Grant Declared Disaster Recovery Fund (DDR) to the City of Detroit. The funds will help Detroit become better prepared for future floods and other natural disasters, and assist with planning and implementation costs associated with resilient projects in the Brightmoor, Mt. Elliot and McDougall-Hunt neighborhoods, stemming from August 2014 flooding damage.
WASHINGTON – The U.S. Small Business Administration’s (SBA) announced that it is seeking grant proposals to award up to $700,000 in grant funding for projects that promote the development of innovative and successful Native American firms that are eligible for assistance under the SBA’s 7(j) Management and Technical Assistance Program.
The SBA expects to award three to seven grants to provide funding opportunities for Native American Micro Enterprise Business Services.
The level of commercial/multifamily mortgage debt outstanding increased by $40.4 billion in the first quarter of 2015, as all four major investor groups increased their holdings, according to a release from the Mortgage Bankers Association. The new 1st quarter numbers represent a 1.5 percent increase over the fourth quarter of 2014.
Are you looking for ways to find new investors for your project? What if you could provide something better than a return. If you have ever been to a GDF seminar, then you know that the three major components to any funding deal are:
1. Job Creation
2. Provides Economic Development Activities
3. Shovel Ready
WASHINGTON: In a long awaited announcement several months late, the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) announced more than $3.5 billion in New Markets Tax Credit awards aimed at stimulating investment and economic growth in low-income urban neighborhoods and rural communities nationwide. A total of 76 organizations (Allocatees) across the country will receive tax credit allocation authority under the 2014 round of the New Markets Tax Credit Program.
WASHINGTON – The U.S. Department of Housing and Urban Development today announced $29 million in grants to help approximately 1,200 extremely low-income persons and families living with HIV/AIDS annually. These grants provide a combination of housing assistance and supportive services for this vulnerable population.
WASHINGTON - The US Department of Agriculture announced the launch of two new private funds, known as Rural Business Investment Companies (RBICs), which make equity investments in rural businesses, helping them grow and create jobs. This announcement is part of USDA's ongoing efforts to help attract private sector capital to investment opportunities in rural America to help drive more economic growth in rural communities.