September 16, 2011 Beaufort Presentation to Financial Institutions

 Non Profit 501(c)3 community development loan fund

 U.S. Treasury certified Community Development Financial Institution (CDFI)

 Mission is to be an affordable housing advocate and lender

 Goal is to leverage local government funding with federal, state, and private market funds to finance affordable housing development

 Staff of 4  20 member Board of Directors  10 member Loan Review Committee

Local Governments

$500K

State Government

$500K

Other Grants $500K

Financial Institutions

$500K

Foundations $500K

Opportunity Finance

Network $500K

U.S. Treasury $2M

Lowcountry Housing Trust

Revolving Loan Fund DEBT EQUITY

Equity Debt

EQ2

PRI

Notes

Contributions

Grants

40% 60%

Local City of Charleston $889,000 Charleston County $650,000 City of North Charleston $325,000 Town of Mount Pleasant $100,000 Georgetown County $100,000

State South Carolina State Housing Finance $1,000,000 NSP $7,409,679

Federal HUD $396,800 U.S. Treasury $3,742,000

Private Foundations/Business $575,000 Financial Institutions $300,000

94 loans to developers

100 loans to homebuyers

$13.2 million in community development financing

$101 million in affordable housing developments

750 affordable housing units

1,615 families and individuals served

2,125 jobs created

Type - acquisition, infrastructure, construction, mini-perm

Units – homeownership, rental, transitional

Borrowers – for profit, non profit, government entities

Size - $10,000 to $250,000

Terms - 12 to 60 months

Rates – prime up to 2 points over prime

Security – Note, Mortgage, & Restrictive Covenant

 Loans to Developers •  Construction and Permanent Loans •  Blended Rate Loans •  Loan Participation Pool •  LIHTC and NMTC Financing

 Loans to Lowcountry Housing Trust •  Increase Capital Available in Revolving Loan Fund •  Program Related or Equity Equivalent Investment •  $100,000 for 10 years at 2% interest •  $25,000 operating grant •  CRA Investment and Lending Credit

 Service on LHT Board or Loan Committee

 CDFI Bond Guarantee Program •  $3B allocated in bond financing to CDFIs •  LHT will make larger loans •  LHT will make longer term loans •  LHT will seek coordinated housing efforts in targeted

communities •  LHT will seek broader community impacts

 Project Rebuild •  $15B for community redevelopment •  Similar to Neighborhood Stabilization Program (NSP) •  LHT awarded $7.4M in NSP1 funds •  Vacant, Abandoned, Blighted, & Foreclosed Properties •  Residential, Commercial, and Mixed Use Properties

Community Development

Financing

Housing Finance

Energy Efficiency Finance

Commercial Finance

Healthy Food

Finance

Business Finance

Financing of Mixed Use

Developments

Financing of Affordable Housing

Financing of Food

Enterprises

Financing of Working Capital to

Developers

Financing of Energy Efficient Improvements

Homebuyer Assistance Program $25,000

Down Payment & Closing Costs

Rosemont NSP Redevelopment Properties

by City of Charleston

Willow Trace at Windsor Hill Multi Family Rental Development

By Douglas Company

Peecksens Court Single Family Development by Humanities Foundation

Builders Blitz Single Family Development

by East Cooper Habitat for Humanity

Seven Farms Apartments and Seven Farms Village LIHTC Family and Senior Development

Daniel Island

4224 Grimke Street NSP Rehabilitation Property by Charleston Area CDC

HOPE IV Project Spring Creek at Horizon Village

Mixed Income Homeownership Development By North Charleston Housing Authority

Michelle A. Mapp, Executive Director michelle@lowcountryhousingtrust.org

Patrick King, Lending Director patrick@lowcountryhousingtrust.org

843.973.7285