Cohousing-L Mailing List: affordability and Partnerships for Affordable Cohousing, Inc. (PFAC)

[Jerome Garciano (jgarciano]

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*