1. ASACARSAMIUT TRIBAL COUNCIL
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
2. MOWA CHOCTAW HOUSING AUTHORITY
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
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
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
The TDHEs 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
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
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
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
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
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
10. CHEROKEE HOUSING AUTHORITY
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
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.