Financing a community facility

[Community Development Banking List]

Original message from: Matthew.W.Ashby@stls.frb.org

Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

[Community Development Banking List]

Original message from: Claudette@crfusa.com

Community Reinvestment, Inc. works with Local Lending Partners to
finance community facilities, both in its regular and its NMTC programs.



________________________________

From: bounce-2886946-4990359@list.cornell.edu
[mailto:bounce-2886946-4990359@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 8:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

__________________________________________________ ____________________
This email has been scanned by the MessageLabs Email Security System.
For more information please visit http://www.messagelabs.com/email ('http://www.messagelabs.com/email')
__________________________________________________ ____________________

[Community Development Banking List]

Original message from: allen.c.lamboy@chase.com

If it in a qualified census tract think about NMTC financing.


Allen C Lamboy, Vice President
Community Development Real Estate
JPMorgan Chase
525 Marketplace Blvd.
Hamilton, New Jersey 08691
609-585-4174
609-585-2756 fax
856-524-0432 cell
allen.c.lamboy@jpmchase.com



Matthew.W.Ashby@stls.frb.org
Sent by: bounce-2886946-8604082@list.cornell.edu
07/24/2008 10:50 AM
Please respond to
Matthew.W.Ashby@stls.frb.org


To
<communitydevelopmentbanking-l@cornell.edu>
cc

Subject
Financing a community facility







Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org



-----------------------------------------
This transmission may contain information that is privileged,
confidential, legally privileged, and/or exempt from disclosure
under applicable law. If you are not the intended recipient, you
are hereby notified that any disclosure, copying, distribution, or
use of the information contained herein (including any reliance
thereon) is STRICTLY PROHIBITED. Although this transmission and
any attachments are believed to be free of any virus or other
defect that might affect any computer system into which it is
received and opened, it is the responsibility of the recipient to
ensure that it is virus free and no responsibility is accepted by
JPMorgan Chase & Co., its subsidiaries and affiliates, as
applicable, for any loss or damage arising in any way from its use.
If you received this transmission in error, please immediately
contact the sender and destroy the material in its entirety,
whether in electronic or hard copy format. Thank you.

[Community Development Banking List]

Original message from: Keith@crfusa.com

The Community Reinvestment Fund, USA, through its local lending
partners, provides both regular and low interest New Markets Tax
Credit-eligible loans for community facilities. We have funded more than
100 loans to community facilities around the country, including health
clinics, charter schools, community centers, small hospitals, art
centers, child care centers, legal clinics, etc. Typically, CRF funds
are used to fill the gap between bank financing and total costs (Bank+
EQ + CRF = TPC) . CRF then takes a second mortgage on the property. CRF
funds can go as high as $2.5 million and 25 years for New Markets Tax
Credit loans, $1 million (some exceptions) and 20 years for non-New
Markets.



We can put you in touch with our local lenders.



Keith Ford

Community Impact

Community Reinvestment Fund, USA

801 Nicollet Mall, Suite 1700W

Minneapolis MN 55402

Direct: 612-305-2087

Fax: 612-338-3236

www.crfusa.com <mailto:keith@crfusa.com>





From: bounce-2886946-4990360@list.cornell.edu
[mailto:bounce-2886946-4990360@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 9:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

__________________________________________________ ____________________
This email has been scanned by the MessageLabs Email Security System.
For more information please visit http://www.messagelabs.com/email ('http://www.messagelabs.com/email')
__________________________________________________ ____________________

[Community Development Banking List]

Original message from: eddie@sduec.org

Reach out to the "GREEN" world. They may need a project with community
benefit.



Eddie Price, President

San Diego Urban Economic Corporation

619-262-4922 office

619-895-8268 mobile

www.sduec.org

_____

From: bounce-2886946-5317872@list.cornell.edu
[mailto:bounce-2886946-5317872@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 7:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a small
community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

[Community Development Banking List]

Original message from: mike.fladeland@mdu.com

Along a similar line, any grant programs available for a new,
municipally owned school building to be located south of Billings,
Montana?



Mike Fladeland

Community Development

Montana-Dakota Utilities Co.

400 N. 4th ST.

Bismarck, ND 58501

Office: 701.222.7879

Cell: 701.220.8015

________________________________

From: bounce-2887391-4991292@list.cornell.edu
[mailto:bounce-2887391-4991292@list.cornell.edu] On Behalf Of Claudette
Konola
Sent: Thursday, July 24, 2008 1:20 PM
To: Matthew.W.Ashby@stls.frb.org;
communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility



Community Reinvestment, Inc. works with Local Lending Partners to
finance community facilities, both in its regular and its NMTC programs.



________________________________

From: bounce-2886946-4990359@list.cornell.edu
[mailto:bounce-2886946-4990359@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 8:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

__________________________________________________ ____________________
This email has been scanned by the MessageLabs Email Security System.
For more information please visit http://www.messagelabs.com/email ('http://www.messagelabs.com/email')
__________________________________________________ ____________________

[Community Development Banking List]

Original message from: bm@scacdc.net

Some Federal Home Loan Banks fund community facilities through AHP
Funds. Check with the one nearest you.



Bernie Mazyck

S.C. Association of CDCs



_____

From: bounce-2886946-8116469@list.cornell.edu
[mailto:bounce-2886946-8116469@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 10:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

[Community Development Banking List]

Original message from: MBibbs@cityfirstbank.com

You might try Charles King at CSG Urban - they are helping a number of
Y's around the country to build/expand/update facilities using the New
Markets Tax Credit program. You can reach Charles via email -
cking@csgurban.com



Marie Mann Bibbs
Executive Vice President | City First Bank of DC
1432 U Street NW | Washington, DC 20009
202.243.7115 Direct | 202.243.7195 Fax
mbibbs@cityfirstbank.com <mailto:mbibbs@cityfirstbank.com>






This E-mail and any of its attachments may contain City First Bank of
D.C., NA proprietary information, which is privileged, confidential, or
subject to copyright belonging to the City First Bank of D.C., NA. This
E-mail is intended solely for the use of the individual or entity to
which it is addressed. If you are not the intended recipient of this
E-mail, you are hereby notified that any dissemination, distribution,
copying, or action taken in relation to the contents of and attachments
to this E-mail is strictly prohibited and may be unlawful. If you have
received this E-mail in error, please notify the sender immediately and
permanently delete the original and any copy of this E-mail and any
printout.

________________________________

From: bounce-2887393-8709216@list.cornell.edu
[mailto:bounce-2887393-8709216@list.cornell.edu] On Behalf Of SDUEC
Sent: Thursday, July 24, 2008 4:04 PM
To: Matthew.W.Ashby@stls.frb.org;
communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility



Reach out to the "GREEN" world. They may need a project with community
benefit.



Eddie Price, President

San Diego Urban Economic Corporation

619-262-4922 office

619-895-8268 mobile

www.sduec.org

________________________________

From: bounce-2886946-5317872@list.cornell.edu
[mailto:bounce-2886946-5317872@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 7:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

[Community Development Banking List]

Original message from: kentrpipes@aol.com

I doubt that FHLB's would fund a community facility, since the funds
are limited to housing.

If anyone knows of a FHLB project that was funded with AHP funds I
would like to know of it.

Kent R. Pipes, President
The Affordable Homes Group, Inc.
PO Box 249 (96 Rancocas Rd.)
Mt. Holly, NJ 08060
(609) 261-4571 or cell (609) 284-8893

On Jul 24, 2008, at 4:35 PM, Bernie Mazyck wrote:

Some Federal Home Loan Banks fund community facilities through AHP
Funds. Check with the one nearest you.

Bernie Mazyck
S.C. Association of CDCs

From: bounce-2886946-8116469@list.cornell.edu [mailto:bounce-2886946-8116469@list.cornell.edu
] On Behalf Of Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 10:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility


Are there any ideas for financing the construction of a new YMCA in
a small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week: www.exploringinnovation.org



www.affordablehomesgroup.com
kentrpipes@aol.com

[Community Development Banking List]

Original message from: NGrandquis@aol.com

If not AHP funds I know they fund community facilities through their
Community Investment Advance programs ...specially discounted advances available
for longer maturities some with no prepayment penalties --some interest
only...check the link below for the FHLB that covers your area and then call and
ask for the AHP or Community investment dept and/or the Community Investment
Officer for more info ...former FHLBank CIO, Nancy Grandquist Fields
_http://www.fhfb.gov/Default.aspx?Page=50&Top=3_ ('http://www.fhfb.gov/Default.aspx?Page=50&Top=3_')
(http://www.fhfb.gov/Default.aspx?Page=50&Top=3) ('http://www.fhfb.gov/Default.aspx?Page=50&Top=3)')


In a message dated 7/24/2008 4:05:39 P.M. Central Daylight Time,
bm@scacdc.net writes:

Some Federal Home Loan Banks fund community facilities through AHP Funds.
Check with the one nearest you.
Bernie Mazyck
S.C. Association of CDCs





**************Get fantasy football with free live scoring. Sign up for
FanHouse Fantasy Football today.
(http://www.fanhouse.com/fantasyaffair?ncid=aolspr00050000000020) ('http://www.fanhouse.com/fantasyaffair?ncid=aolspr00050000000020)')

[Community Development Banking List]

Original message from: Jeffstd@aol.com


USDA RD provides attractive community facilities loans, and in some cases,
grants....

_Community Facilities Program_ (http://www.rurdev.usda.gov/rhs/cf/cp.htm) ('http://www.rurdev.usda.gov/rhs/cf/cp.htm)')

Jeff Staudinger
Rockingham Area Community Land Trust
Springfield, VT 05156
(802) 885-3220 x 220





**************Get fantasy football with free live scoring. Sign up for
FanHouse Fantasy Football today.
(http://www.fanhouse.com/fantasyaffair?ncid=aolspr00050000000020) ('http://www.fanhouse.com/fantasyaffair?ncid=aolspr00050000000020)')

[Community Development Banking List]

Original message from: Jake.Sheeran@tx.usda.gov

Another funding source that could be consider is USDA Rural Development.
Low interest rates loans are available for community facilities located
in areas of up to 20,000 population. Other type of community facilities
that could be finance are police stations, schools, health care clinics,
city halls nursing homes, hospitals, public safety buildings, adult day
care centers.
The website is www.rurdev.usda.gov

Jake Sheeran
USDA Rural Development

________________________________

From: bounce-2887469-4991817@list.cornell.edu
[mailto:bounce-2887469-4991817@list.cornell.edu] On Behalf Of Bernie
Mazyck
Sent: Thursday, July 24, 2008 4:35 PM
To: Matthew.W.Ashby@stls.frb.org;
communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility



Some Federal Home Loan Banks fund community facilities through AHP
Funds. Check with the one nearest you.



Bernie Mazyck

S.C. Association of CDCs



________________________________

From: bounce-2886946-8116469@list.cornell.edu
[mailto:bounce-2886946-8116469@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 10:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

[Community Development Banking List]

Original message from: dyoder@garrettcac.org

Where you go for financing often depends on use of the facility. If
senior activities are part of the programming, as an example, many
states have senior center facility capital funds or if there is a Head
Start center included we have used HHS' quality improvement funds.
Outside the specific program uses we always rely on USDA, CDBG, several
Maryland state capital sources and a variety of private debt
arrangements that use loan guarantees or interest write downs. In
addition to the AHP funds that Bernie mentioned, on two occasions we had
local banks use the Federal Home Loan Bank's Community Investment
Program draws to get a slightly better rate. Duane



Duane Yoder, President

Garrett County Community Action Committee, Inc.

104 East Center Street

Oakland, MD 21550

301 334-9431 (office)

301 616-0615 (cell)



________________________________

From: bounce-2887818-4989683@list.cornell.edu
[mailto:bounce-2887818-4989683@list.cornell.edu] On Behalf Of Sheeran,
Jake - Alice, TX
Sent: Thursday, July 24, 2008 5:55 PM
To: Bernie Mazyck; Matthew.W.Ashby@stls.frb.org;
communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility



Another funding source that could be consider is USDA Rural Development.
Low interest rates loans are available for community facilities located
in areas of up to 20,000 population. Other type of community facilities
that could be finance are police stations, schools, health care clinics,
city halls nursing homes, hospitals, public safety buildings, adult day
care centers.

The website is www.rurdev.usda.gov



Jake Sheeran

USDA Rural Development



________________________________

From: bounce-2887469-4991817@list.cornell.edu
[mailto:bounce-2887469-4991817@list.cornell.edu] On Behalf Of Bernie
Mazyck
Sent: Thursday, July 24, 2008 4:35 PM
To: Matthew.W.Ashby@stls.frb.org;
communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility

Some Federal Home Loan Banks fund community facilities through AHP
Funds. Check with the one nearest you.



Bernie Mazyck

S.C. Association of CDCs



________________________________

From: bounce-2886946-8116469@list.cornell.edu
[mailto:bounce-2886946-8116469@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 10:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

[Community Development Banking List]

Original message from: Emma.Barcelona@lakewoodoh.net

I work for a Community Development Block Grant entitlement city and we helped finance the construction of a local YMCA using the Section 108 loan from HUD. If the community too small to be an entitlement, but part of either a county entitlement or the state CDBG program, the Section 108 loan may be an option for them. In any case, the entitlement/state would be the conduit for the loan from HUD.

In our case, we used the Section 108 to finance ADA compliance in the facility (approx $250,000).

Emma

Emma Petrie Barcelona
Grants Administrator- DCD
City of Lakewood, OH
216-529-7680
Emma.Barcelona@lakewoodoh.net

>> <Matthew.W.Ashby@stls.frb.org> 7/24/2008 10:50 AM >>>

Are there any ideas for financing the construction of a new YMCA in a small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week: www.exploringinnovation.org

[Community Development Banking List]

Original message from: Paul.Pierson@mn.usda.gov

Just a little additional information to the USDA RD programs the
Guaranteed Community Facility, which is a good tool in areas where tax
exempt bonds are not obtainable. The rates will be higher then Direct
Community Facilities but there are some other advantages in construction
and packaging. These are 90% guarantees in most cases.

Paul Pierson
USDA Rural Development

________________________________

From: bounce-2887818-8130736@list.cornell.edu
[mailto:bounce-2887818-8130736@list.cornell.edu] On Behalf Of Sheeran,
Jake - Alice, TX
Sent: Thursday, July 24, 2008 4:55 PM
To: Bernie Mazyck; Matthew.W.Ashby@stls.frb.org;
communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility


Another funding source that could be consider is USDA Rural Development.
Low interest rates loans are available for community facilities located
in areas of up to 20,000 population. Other type of community facilities
that could be finance are police stations, schools, health care clinics,
city halls nursing homes, hospitals, public safety buildings, adult day
care centers.
The website is www.rurdev.usda.gov

Jake Sheeran
USDA Rural Development

________________________________

From: bounce-2887469-4991817@list.cornell.edu
[mailto:bounce-2887469-4991817@list.cornell.edu] On Behalf Of Bernie
Mazyck
Sent: Thursday, July 24, 2008 4:35 PM
To: Matthew.W.Ashby@stls.frb.org;
communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility



Some Federal Home Loan Banks fund community facilities through AHP
Funds. Check with the one nearest you.



Bernie Mazyck

S.C. Association of CDCs



________________________________

From: bounce-2886946-8116469@list.cornell.edu
[mailto:bounce-2886946-8116469@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 10:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility




Are there any ideas for financing the construction of a new YMCA in a
small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org

[Community Development Banking List]

Original message from: paul5glover@yahoo.com

I've drafted a plan for community-based investment in ecoenterprise, through a regional stock exchange.

http://www.paulglover.org/praise.html ('http://www.paulglover.org/praise.html')

Paul

____


Paul Glover
(215) 805-8330
http://www.paulglover.org ('http://www.paulglover.org')

[Community Development Banking List]

Original message from: hhlibry@hazelhenderson.com

Hi Paul;

Would you like us to post a click thgrogh to your plan at
www.EthicalMarkets.com <http://www.ethicalmarkets.com/> ('http://www.ethicalmarkets.com/>') just let us
know,

Thanks for all your good work,

Hazel

HAZEL HENDERSON, D.Sc.Hon., FRSA, author, futurist, president - Ethical
Markets Media, LLC

See the "Beyond GDP" survey by Ethical Markets Media/GlobeScan, polling ten
countries, at
<file:///C:\Documents%20and%20Settings\Hazel.ETHICAL.000\Ap plication%20Data\
Microsoft\Signatures\www.ethicalmarkets.com> www.ethicalmarkets.com. Wide
majorities support including health, social and environmental statistics in
GDP. Check local PBS listings for our TV special "Growing The Green Economy"
and Amazon.com for Hazel Henderson's new book Ethical Markets: Growing the
Green Economy.


<file:///C:\Documents%20and%20Settings\Hazel.ETHICAL.000\Ap plication%20Data\
Microsoft\Signatures\www.EthicalMarkets.com> www.EthicalMarkets.com
<file:///C:\Documents%20and%20Settings\Hazel.ETHICAL.000\Ap plication%20Data\
Microsoft\Signatures\www.EthicalMarkets.tv> www.EthicalMarkets.tv
<file:///C:\Documents%20and%20Settings\Hazel.ETHICAL.000\Ap plication%20Data\
Microsoft\Signatures\www.hazelhenderson.com> www.hazelhenderson.com
<file:///C:\Documents%20and%20Settings\Hazel.ETHICAL.000\Ap plication%20Data\
Microsoft\Signatures\www.calvert-henderson.com> www.calvert-henderson.com

Ethical Markets Media, LLC; PO Box 5190, St. Augustine, FL 32085; Phone:
904/829-3140, Fax: 904/826-0325
_____

From: bounce-2891084-8709253@list.cornell.edu
[mailto:bounce-2891084-8709253@list.cornell.edu] On Behalf Of Paul Glover
Sent: Friday, July 25, 2008 12:27 PM
To: SDUEC
Cc: Matthew.W.Ashby@stls.frb.org; communitydevelopmentbanking-l@cornell.edu
Subject: Re: Financing a community facility

I've drafted a plan for community-based investment in ecoenterprise, through
a regional stock exchange.

http://www.paulglover.org/praise.html ('http://www.paulglover.org/praise.html')

Paul
____
Paul Glover
(215) 805-8330
http://www.paulglover.org ('http://www.paulglover.org')

[Community Development Banking List]

Original message from: staylor@khic.org

In 1999, Kentucky Highlands used FHLB's Community Investment Program to
finance a build-to-suit 24,000 s.f. industrial building with a 15 year,
below market fixed rate. The fixed rate helped us pass on a good lease rate
to the cash-poor, fast growth company that needed the space. The project
created 16 tool & die related jobs. CIP can be used for community
facilities too. Just work with your FHLBank member institution.


Stephen Taylor
Development Director
Kentucky Highlands investment Corporation
362 Old Whitley Road
P.O. Box 1738
London, KY 40743-1738
P: 606.864.5175
F: 606.864.5194
www.khic.org


-----Original Message-----
From: bounce-2887575-7780998@list.cornell.edu
[mailto:bounce-2887575-7780998@list.cornell.edu] On Behalf Of Kent Pipes
Sent: Thursday, July 24, 2008 5:32 PM
To: Bernie Mazyck
Cc: Matthew.W.Ashby@stls.frb.org; communitydevelopmentbanking-l@cornell.edu
Subject: Re: Financing a community facility


I doubt that FHLB's would fund a community facility, since the funds are
limited to housing.

If anyone knows of a FHLB project that was funded with AHP funds I would
like to know of it.

Kent R. Pipes, President
The Affordable Homes Group, Inc.
PO Box 249 (96 Rancocas Rd.)
Mt. Holly, NJ 08060
(609) 261-4571 or cell (609) 284-8893

On Jul 24, 2008, at 4:35 PM, Bernie Mazyck wrote:



Some Federal Home Loan Banks fund community facilities through AHP Funds.
Check with the one nearest you.

Bernie Mazyck
S.C. Association of CDCs


_____

From: bounce-2886946-8116469@list.cornell.edu
[mailto:bounce-2886946-8116469@list.cornell.edu] On Behalf Of
Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 10:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility


Are there any ideas for financing the construction of a new YMCA in a small
community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week:
www.exploringinnovation.org





www.affordablehomesgroup.com
kentrpipes@aol.com



=

[Community Development Banking List]

Original message from: UngK@fhlbsf.com

Hello-



Maybe I can provide some clarification. The Affordable Housing Program (AHP) subsidy can only be used to finance the purchase, construction, or rehabilitation of owner-occupied or rental housing for very low-, low-, and moderate-income households.

However, all FHLBanks provide discounted advances or lower interest loans through their respective member financial institutions to finance non-housing community development activities. The New York district bank calls their program the Community Investment Program (CIP). The San Francisco district's program is called Advances for Community Enterprise (ACE). The financing can be used to fund projects and activities that create or retain jobs or provide services or other benefits for low- and moderate-income people and communities, i.e. small businesses, community facilities, and public works. Typically, the FHLBanks provide the lower interest rate loans to the member who in turn will pass on the savings from the lower cost of funds onto the community organization developing the program/project.

The San Francisco district bank also has a recoverable grant program that supports economic development and housing projects during the conception and early development stages called Access to Housing and Economic Assistance for Development (AHEAD). Some other FHLBanks may have similar programs. Depending on the FHLBank membership location of the financial institution you are working with, you should probably check their district bank's website.

Hope that helps,

Kirby Ung
Community Investment Department
Federal Home Loan Bank of San Francisco
T: 415.616.2640
F: 415.616.2767
E: ungk@fhlbsf.com
www.fhlbsf.com

The contents of this message, together with any attachments, are intended only for the use of the individual or entity to which they are addressed and may contain information that is legally privileged, confidential, and exempt from disclosure. If you are not the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this message, or any attachment, is strictly prohibited. If you have received this message in error, please: (i) reply immediately to this e-mail indicating that you received this communication in error; and (ii) promptly delete this message, along with any attachments, from your computer. Thank you.

________________________________

From: bounce-2894859-4990458@list.cornell.edu [mailto:bounce-2894859-4990458@list.cornell.edu] On Behalf Of Stephen Taylor
Sent: Monday, July 28, 2008 10:59 AM
To: 'Kent Pipes'; 'Bernie Mazyck'
Cc: Matthew.W.Ashby@stls.frb.org; communitydevelopmentbanking-l@cornell.edu
Subject: RE: Financing a community facility



In 1999, Kentucky Highlands used FHLB's Community Investment Program to finance a build-to-suit 24,000 s.f. industrial building with a 15 year, below market fixed rate. The fixed rate helped us pass on a good lease rate to the cash-poor, fast growth company that needed the space. The project created 16 tool & die related jobs. CIP can be used for community facilities too. Just work with your FHLBank member institution.





Stephen Taylor

Development Director

Kentucky Highlands investment Corporation

362 Old Whitley Road

P.O. Box 1738

London, KY 40743-1738

P: 606.864.5175

F: 606.864.5194

www.khic.org



-----Original Message-----
From: bounce-2887575-7780998@list.cornell.edu [mailto:bounce-2887575-7780998@list.cornell.edu] On Behalf Of Kent Pipes
Sent: Thursday, July 24, 2008 5:32 PM
To: Bernie Mazyck
Cc: Matthew.W.Ashby@stls.frb.org; communitydevelopmentbanking-l@cornell.edu
Subject: Re: Financing a community facility

I doubt that FHLB's would fund a community facility, since the funds are limited to housing.



If anyone knows of a FHLB project that was funded with AHP funds I would like to know of it.



Kent R. Pipes, President

The Affordable Homes Group, Inc.

PO Box 249 (96 Rancocas Rd.)

Mt. Holly, NJ 08060

(609) 261-4571 or cell (609) 284-8893



On Jul 24, 2008, at 4:35 PM, Bernie Mazyck wrote:







Some Federal Home Loan Banks fund community facilities through AHP Funds. Check with the one nearest you.

Bernie Mazyck

S.C. Association of CDCs



________________________________


From: bounce-2886946-8116469@list.cornell.edu [mailto:bounce-2886946-8116469@list.cornell.edu] On Behalf Of Matthew.W.Ashby@stls.frb.org
Sent: Thursday, July 24, 2008 10:51 AM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Financing a community facility


Are there any ideas for financing the construction of a new YMCA in a small community -- besides philanthropy and investments by CDFIs?

Thank you,
Matt
Matthew Ashby
Senior Development Specialist
The Federal Reserve Bank of St. Louis

2008 Exploring Innovation in Community Development Week: www.exploringinnovation.org









www.affordablehomesgroup.com

kentrpipes@aol.com







=