Greenville Housing Impact Fund Makes It Happen
By increasing Greenville Housing Fund’s lending capacity, the Impact Fund can provide the last-dollar-in support necessary to green-light a development
Sometimes a project just needs a little extra help to get off the ground. That’s where the Greenville Housing Impact Fund (GHIF) comes into play. Greenville Housing Fund’s standard financing program (link to Section 3.1) has limited lending capacity, and occasionally can’t fully meet the needs of an otherwise well-conceived request. The GHIF extends that lending capacity to enable GHF to support the construction or preservation of more—and more deeply affordable—housing developments than we otherwise could.
The Fund is an approximately $5 million “blind pool fund” of revolving investment committed in exchange for a small guaranteed return over a term of about five years. This is an attractive, straightforward way for local banks, businesses, philanthropies, donor-advised funds, or individual investors interested in promoting Greenville’s affordable housing efforts to make a direct impact. The pooled funds are administered by Greenville Housing Fund and may be used in combination with other affordable housing finance tools and incentives.
Projects Funded By The GHIF
Ready to Apply for Funding?
Affordable housing developers have automatic access to the GHIF through GHF’s standard lending programs (Section 3.1) and should apply through those portals.
If you or your business, institution, or philanthropy is interested in becoming an investor in the Greenville Housing Impact Fund, please contact Aaron Conley or Tiffany Santagati for more information.