9/11/13 Points of Impact from NeighborWorks Capital

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NEWSLETTER FROM NEIGHBORWORKS CAPITAL | AUGUST, 2013 View this email in your browser

In this issue:

NC provides fast, affordable and flexible financing to 3 NWOs

NC has a vision of the future

NC heads to the City of Brotherly Love for the NW NTI

Loree Lamour joins NC team as Office Administrator

NC provides fast, affordable and flexible financing to 3 members of the

NeighborWorks Network. We thank the following NWOs for their recent

business:

Community HousingWorks – Azusa, CA

NC partnered with Mercy Loan Fund, Partners

for the Common Good and the National Housing

Trust Community Development Fund to provide

Community HousingWorks with a $6,500,000

loan to assist in the $18 million acquisition of

Azusa Apartments, an existing affordable rental

project located east of Los Angeles in Azusa, California. Azusa is a garden-style complex

of 88 one-, two-, three-, and four-bedroom units, and provides critically-needed project-

based rental assistance to residents. This is NC’s fourth loan with CHW.

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MHA of Greater Hartford – Hartford, CT

NC provided a $400,000 predevelopment loan to

Mutual Housing Association of Greater Hartford

for Summit Park, a 42-unit mixed-use rental

development located in Hartford, Connecticut.

Summit Park represents a key component to

MHAGH’s community stabilization strategy

underway in the Frog Hollow neighborhood of

Hartford. This is NC’s fifth loan with MHAGH.

Affordable Housing, Education &

Development – Berlin, NH

With a $325,000 predevelopment loan provided

by NC, Affordable Housing, Education &

Development (AHEAD) is able to to move forward

with Senior Living at Notre Dame located in

Berlin, New Hampshire. The project will provide

33 one-bedroom units of service-enriched

housing to seniors at or below 60% of AMI,

catalyzing this neighborhood’s revitalization. This is NC’s first loan with AHEAD.

To date in 2013, NC has committed and closed financing on 19 predevelopment,

acquisition, construction and mini-perm loans totaling $23.2 million that will

create or preserve 908 apartments and for-sale homes. Learn more about NC’s

attractive suite of lending products by visiting our website at

http://www.neighborworkscapital.org/lending/loan-products

NeighborWorks Capital has a vision for the future.

At its recent retreat the NeighborWorks Capital Board of Directors

approved a new Vision and Mission statement that describes how

the organization will focus its lending efforts in the future.

Vision

America is a nation of vibrant and diverse communities where

everyone is proud to have a place to call home.

Mission

9/11/13 Points of Impact from NeighborWorks Capital

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NeighborWorks Capital delivers the flexible capital needed by NeighborWorks America

affiliates to provide affordable homes and strengthen communities.

The board and staff will be sharing its Goals and Objectives for 2014-2018 in the next

newsletter.

Philadelphia Training Institute

Philadelphia, PA | August 19-23, 2013

NC is headed to Philadelphia, PA – the City of Brotherly Love – for the upcoming

NeighborWorks America NTI. To schedule a meeting in Philly with NC’s Director of

Lending, John Maneval, please email jmaneval@neighborworkscapital.org or call 240-

821-1651, ext. 204, or 301-789-6856.

NC Customer in the News:

Read about the work of NeighborWorks New Horizons in turning around Hill Housing in

New Haven, Connecticut. NC assisted NWNH in acquiring this scattered site rental

property.

Link to article: New Haven Hill Housing

Join us in welcoming our newest NC team member:

Loree Lamour, Office Administrator

Loree joins NC after completion of her Bachelor’s Degree in

Management Studies from the University of Maryland. She brings

more than 15 years of administrative experience to NC, including

meeting planning and marketing experience.

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Visit us at www.neighborworkscapital.org.

Our mailing address is:

NeighborWorks Capital

1100 Wayne Avenue, Suite 610

Silver Spring, MD 20910

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