Summary

1 The acquisition of existing LIHTC properties*

2 Senior Housing

3 Properties with project-based section 8 contracts

* Especially those with expiring low-income housing tax credits and/or where there is a need for eventual resyndication and preservation.

Impact Investing

The AFM Impact Bond Program IBP is a funding platform designed to help assure that the nations existing affordable multifamily rental housing stock is maintained.

What kind of impact does AFMs IBP create?

AFM provides qualified municipalities, housing authorities, for-profit organizations and §501( c )(3) borrowers the opportunity to competitively acquire apartment properties.

Preservation of existing housing provides communities with continuity of affordable rental housing and in-place residents with the assurance that their home will not be converted to a condo or market rent unit.

It is estimated that between 2014 and 2020 close to one-half of all of the existing low income housing tax credit properties will exit from their initial 15 year LIHTC restriction period (approximately two million units). Many of those properties could be converted to market rate apartments or even condos. We provide user friendly acquisition bridge financing to qualified borrowers whose mission includes assuring that these expiring properties are preserved as affordable housing

CRA Investing

As a national affordable housing financing platform, AFM provides CRA eligible investment-ready opportunities to national and regional financial institutions, thus reducing origination costs and risks.

Because 100% of the assets collateralizing our bonds are for the preservation of at-risk affordable housing, AFM believes its platform is a CRA qualified investment and will meet Investment Test and Creativity Test criteria.

Assets may be targeted to an institutions assessment area.

Unlike direct LIHTC investments, AFMs bond investments are designed to have a 3-5 year duration.

CRA regulations do not differentiate between direct and indirect investments. Thus an institution’s investment in a fund whose primary purpose is supporting community development and/or affordable housing should receive positive consideration as a qualified investment under the CRA regulations, subject in some cases to assessment area considerations.*

* While AFM has met with the FRB, OCC and the FDIC it is important for all regulated entities to independently verify CRA lending and investment test qualification.