|affordability and Partnerships for Affordable Cohousing, Inc. (PFAC)||<– Date –> <– Thread –>|
|From: Jerome Garciano (jgarcianooutlook.com)|
|Date: Sat, 10 Aug 2013 05:29:19 -0700 (PDT)|
Building upon the recent posts on cohousing and affordability, I just wanted to share with the listserve information about a new 501(c)(3) non-profit organization, Partnerships for Affordable Cohousing, Inc., that a group of cohousing-supportive volunteers are launching to address that very topic. PFAC's mission is to establish and promote affordable cohousing throughout the United States by creating partnerships between cohousing and affordable housing advocates. PFAC provides technical assistance, project development and systems advocacy to assist forming and existing cohousing communities and affordable housing developers in creating affordable cohousing. One very exciting initiative that PFAC is currently focused on is working with the National Cooperative Bank to form an Affordable Cohousing Investment Fund. The vision is to bring together cohousing-supportive financial investors, foundations and lenders to create a fund of at least $25 million that is dedicated to financing affordable cohousing. Groups would be able access financing for predevelopment and construction as well as finance packages for permanent mortgage loans. The National Cooperative Bank would administer the fund and as well as leverage additional funds with its internal capital. The goal would be to increase the financial support for affordable cohousing around the country. For more information on PFAC, please visit www.affordablecohousing.org and email info [at] affordablecohousing.org. Also feel free to reach out to me at my contact info below. PFAC would love to have anyone who is interested in this work join us! We are always looking to connect with volunteers, supporters and people passionate about affordable cohousing. Jerome jgarciano [at] kleinhornig.com *Klein Hornig** **LLP* _________________________________________________________ *JEROME L. GARCIANO * | 101 Arch Street, Suite 1101 | Boston MA 02110 *D* 617 224 0623 | *F* 617 224 0601 | *www.kleinhornig.com*
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