Affordable Multifamily Financing Program

CAEATFA is launching the Affordable Multifamily Financing Pilot, targeting affordable multifamily properties with at least 50% of the units restricted to income eligible households. The Affordable Multifamily Financing Pilot features a credit enhancement to help financing entities mitigate risk, and will support loans, leases and energy service agreements. It will be designed to leverage and complement existing efforts to finance affordable multifamily housing and energy efficiency retrofits, and to encourage growth in private market lending.

The option to make payments on the customer’s utility bill (on-bill repayments) will be available for master-metered multifamily properties once the functionality is established.

CAEATFA seeking comment on Affordable Multifamily Financing Pilot design

External stakeholders, especially lenders and affordable housing developers, are welcome to submit comments. Please send comments to cheef@treasurer.ca.gov, or email to schedule a conversation with us to discuss the proposed design.

CAEATFA hosted its first in a series of public workshops on the Affordable Multifamily Financing Pilot under the California Hub for Energy Efficiency Financing (CHEEF) on Tuesday, November 7, 2017.

The purpose of this workshop was to solicit stakeholder and public input on the proposed pilot design recommendations. The workshop centered a discussion on these elements:

• Background on the financing pilots and research to date
• Leveraging existing programs and efforts in the affordable multifamily market
• Presentation of proposed program design: project eligibility, lender and financing eligibility, credit enhancements
• Opportunity and needs for technical assistance
• Next steps in program development

Presentation slides for the workshop are available here.

View the workshop video:

The transcript of the video is available here.