View Buying Resources
Buying or renovating a building is a milestone event for any nonprofit. Before moving forward with a purchase it’s important to look back at your organization’s operations and identify your true space needs (PDF).
Once you’ve identified your space needs, there are many things to think about before buying a commercial building or office condo (PDF). Real estate is an increasingly technical process, and it’s incredibly important to be familiar with the many phases of the facility decision-making process (PDF).
Buying or renovating will present many challenges in the short run, but it will ultimately allow your organization to stabilize its real estate costs. Taking time to develop a clear road map (PDF) and the right team at the beginning of the process will help maximize the benefits and minimize the challenges.
USDA Business and Cooperative Programs
USDA Rural Development’s Rural Grants and Technical Assistance Program deliver a variety of assistance to rural businesses and communities. All of them work in financial partnership with local economic organizations – banks and lenders, economic development groups, local revolving loan funds, universities, cities, counties, tribes, and cooperatives.
Tax Credit Financing
Most large nonprofit real estate development projects require the use of tax credits. In today’s development climate, it’s important to maximize your tax credit potential. There are 4 types of tax credit financing mechanisms available: New Market Tax Credits, Low-Income Housing Tax Credits, Historic Preservation Tax Credit (PDF) and Energy Savings Tax Credits.
New Market Tax Credit Specialist Josh Simon’s presentation breaks down the New Market Tax Credits process. To determine if your project is located in an eligible New Market Tax Credit Census Tract, visit Novocgradac & Partners LLC’s map.
Bay Area Transit Oriented Affordable Housing Fund
The Bay Area Transit-Oriented Affordable Housing Fund is a public-private financing resource for the development of affordable housing and other community services near transit lines throughout the nine-county Bay Area. The mission of the Fund is to promote equitable transit-oriented development (TOD) across the Bay Area by catalyzing the development of affordable housing, community services, fresh foods markets and other neighborhood assets. The Fund’s objective is to improve the lives of neighborhood residents, and to help ensue that low-income families and individuals receive the benefits of living near quality transit, including walkable neighborhoods and a connection to the regional economy.
Affordable Housing Development in California
An affordable home is a part of the American Dream, and California has one of the most active groups of affordable housing professionals in the country. Projects are often funded through a mix of tax credits and government subsidies. The concentration of affordable projects is evident when looking at the California Housing Corporation Partnerships map.
