Title VI - Success Stories

1. ASA’CARSAMIUT TRIBAL COUNCIL
ALASKA

Mountain Village, Alaska, a remote community accessible only by river, air or dogsled, 150 miles northwest of Bethel, Alaska, is the site of the first Title VI guaranteed loan. The modular housing units, constructed in Palmer, Alaska, and shipped by barge to the home sites, will provide affordable rental housing for 8 families. First National Bank Alaska is the lender for the fixed rate, 20-year loan. The annual loan payment will coincide with the receipt of IHBG funds.

2. MOWA CHOCTAW HOUSING AUTHORITY
ALABAMA

The Tribally Designated Housing Entity (TDHE) will build 12 single family 4 bedroom homes in Mobile and Washington counties in Alabama on fee simple land owned by tribal members or the TDHE, including 5 homes to be built in a subdivision previously developed by the housing authority.

Whitney National Bank originated the Title VI loan. With a 78 month maturity, repayment with IHBG funds will be structured as quarterly interest payments for 18 months, and then interest quarterly and principal annually based on 5 year amortization.

3. CATAWBA INDIAN NATION, ISWA DEVELOPMENT CORPORATION
SOUTH CAROLINA

Green Earth, a master-planned community located in York County, South Carolina, was developed with respect for wildlife habitat and wetlands preservation for the Catawba Indian Nation by the ISWA Development Corporation. The 120 units in Phase I include 90 single family rentals (lease with an option to purchase) and 30 multifamily units. Project funding included Indian Health Service water and sewer grants, Rural Housing Grant funds, the IHBG, and a Title VI guaranteed loan. The First Union Title VI loan includes a 2-1/2 year construction period based on the LIBOR floating rate plus margin. Monthly payments with a 20 year amortization begin with the conversion to the permanent fixed rate loan.

4. SALISH AND KOOTENAI HOUSING AUTHORITY
MONTANA

The TDHE’s Title VI loan, originated by Ronan State Bank in Ronan, Montana, was used to purchase and renovate a mobile home park in Pablo, Montana. The redesign of Willow Wynne Mobile Home Park includes upgrades to the water and sewer system and a reduction in the number of units to enhance livability. The lot rentals and IHBG funds will be used for the annual debt service payment on the 15 year loan.

5. POJOAQUE HOUSING CORPORATION
NEW MEXICO

The TDHE will construct a 30-unit (10 three bedroom and 20 four bedroom units) rental housing development, White Sands Village, on this New Mexico Pueblo. This is the first of a 215 acre multiphase development.The project will be funded with IHBG and Rural Housing and Economic Development Grant Funds, a Federal Home Loan Bank (FHLB) Affordable Housing Program Grant, Low Income Housing Tax Credits and a 20 year Title VI guaranteed loan originated by Century Bank in Santa Fe, New Mexico, with a Fannie Mae commitment. Rental income will be the primary source of the monthly debt service.

6. LAC COURTE OREILLES BAND OF LAKE SUPERIOR CHIPPEWA
WISCONSIN

Recognizing the housing needs of young adults and college students on its “checkerboard” reservation in Wisconsin the Lac Courte Oreilles Housing Authority, a TDHE, created the Giiwedin Townhouse Project, 40 one-bedroom units in 4 separate buildings which includes infrastructure. The resources pooled to develop this project included 1937 Act development funds, Mutual Help proceeds, a Federal Home Loan Bank (FHLB) Affordable Housing Program Grant, Bureau Indian Affairs (BIA) Indian Education Program funds, Community development Block Grant funds, and a Title VI guaranteed loan provided by the Indian owned Chippewa Valley Bank in Winter, Wisconsin. Monthly payments for the fixed rate 25 year loan will be made from rental income and IHBG funds.

7. NORTHERN ARAPAHO TRIBAL HOUSING
WYOMING

The TDHE secured a Title VI loan for water and sewer infrastructure for 10 duplexes (10 two bedroom and 10 three bedroom units), funded with Low Income Housing Tax Credits and IHBG funds, located on the Wind River Reservation just north of Riverton, Wyoming. Wells Fargo Bank in Wyoming was the lender for the 5 year Title VI loan. The annual debt service payment will be made with IHBG funds.

8. NORTHWEST INUPIAT HOUSING AUTHORITY
ALASKA

The TDHE will construct 13 single family homes, 4 in the Village of Kobuk and 9 in the Village of Shungnak. The homes will be sold through the New Home Program (down payment and closing cost assistance to mortgage qualified families) or rented under the Lease to own Program. Funding for the project included an Alaska Housing Finance Corporation Supplemental Grant for infrastructure and energy efficiency and a Title VI guaranteed loan through First National Bank Alaska. The annual debt service payment for the 20 year loan will be funded through rent payments, sales proceeds and IHBG funds.

9. NATIVE VILLAGE OF UNALAKLEET
ALASKA

The Native Village Housing Authority of Unalakleet Alaska plans to construct 10 single family homeownership units. The units, ranging from 1 to 4 bedrooms, will be built on lots throughout the community and deeded to qualified individuals and families.

First National Bank Alaska was the lender for the 20 year loan. Sales proceeds and IHBG funds will be used for the annual debt service payment

10. CHEROKEE HOUSING AUTHORITY
OKLAHOMA

This $ 50 million Title VI loan will assist the Tribe in meeting the housing needs of tribal members in 14 counties of northeast Oklahoma. This 20 year loan was originated by Bank One in Oklahoma to assist the Tribe in the construction of nearly 600 new single family homes. The lender was able to provide a very attractive interest rate due to the purchase of the loan by Fannie Mae through its American Communities Fund.

It is the largest Title VI loan guaranteed under NAHASDA. The Housing Authority of the Cherokee Nation will provide low rate, long term mortgages to the homeowners.