CHI provides developers with the funding they need to include affordable housing in their projects. As a nonprofit Community Housing Development Organization (CHDO), CHI receives priority in competition for grants and has the staff expertise to write winning proposals to federal, state and local agencies. Besides grants, CHI also has access to special low-interest loan funds targeted to nonprofits that allow higher than market loan to value ratios.
CHI, as a nonprofit, has the ability to partner with developers and secure exemptions from sales and recording taxes, as well as other advantages in making transactions. For example, a sale to a nonprofit at a lower price than appraised value may entitle the seller to a tax deduction for the difference.
To find out more on how to partner with CHI, contact Joseph Maselli, Director of Property Management, at (631) 475-6390 x 2257, or email@example.com.