	Public and Indian Housing
	About PIH
	Public housing
	Asset Management
	Senior Housing Clearinghouse Center
	CapFund
		About Us
		Recovery
		Capital Fund Finance Program (CFFP)
		Emergency/Natural Disaster Funding
		Funding
		Processing Information
		Public Housing Mortgage Program (PHMP)
		RHF
		Notices, Handbooks & Forms
		Statute & Regulations
	HOPE VI
	Housing Choice Vouchers
	Public Housing Reform
	Indian Housing
	Rental Housing Integrity Improvement Project
	Real Estate Assessment
	Grants
	Notices, rules & regulations
	Library
	Forums
	Online systems
	HUD news
	Homes
	Resources
	Communities
	Working with HUD
	Tools
	Webcasts
	Mailing lists
	RSS Feeds
	Help

Maximizing Leveraging - Mixed Finance Modernization


	Information by State Print version

CFFP/MF Modernization Transactions

To date, nine housing authorities have utilized Mixed Finance Modernization in conjunction with CFFP. The authorities realized that their capital improvement needs exceed their available resources. The way they bridged the funding gap was to obtain either 4% or 9% tax credits. Below is a summary chart of those housing authorities and the amount of funds they were able to leverage:

	State	CFP/CFFP Proceeds	Additional Funds Leveraged	Leverage Ratio	Type of Tax Credits
Seattle I	WA	$12,277,000	$23,107,573	1.88	4%
Seattle I	WA	$16,365,729	$16,296,968	1.00	4%
Seattle II	WA	$12,150,756	$21,012,149	1.73	4%
Seattle Total		$40,793,485	$60,416,690	1.48

Albany	NY	$8,272,000	$7,135,561	0.86	4%
Jackson	TN	$4,702,249	$8,380,375	1.78	4%
Denver	CO	$16,936,202	$37,097,759	2.19	4%
King County	WA	$9,150,000	$63,617,979	6.95	4%
St. Louis	MO	$5,448,828	$7,558,554	1.39	4%
Stevens Point	WI	$907,093	$6,666,030	7.35	9%
Washburn	WI	$265,000	$1,743,818	6.58	9%
Puerto Rico	PR	$378,765,000	$235,000,000	0.62	4%

Overall Total		$465,239,857	$427,616,766	0.92

In its efforts to ensure PHAs are utilizing their Capital Funds as efficiently as is possible, the Office of Capital Improvements has developed 2 case studies to illustrate how PHAs have leveraged their CFFP proceeds in order to maximize the amount of modernization work the could accomplish. The case studies are from actual CFFP transactions where the PHA leveraged their CFFP proceeds.

	Steven's Point Case Study
	Seattle Case Study

Content current as of 5 November 2009

	FOIA	Privacy	Web Policies and Important Links	Home
	U.S. Department of Housing and Urban Development 451 7th Street S.W., Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455 Find the address of a HUD office near you