Louisiana Housing Corporation’s (LHC) board of directors approved a resolution adopting the Open Indenture Program Initiative Strategy for multifamily tax-exempt bond financing. The initiative provides LHC with an alternative multifamily bond financing option to provide greater ease of execution that allows for potential cost savings. It captures earnings to facilitate LHC’s ability to redeploy funds to support housing production in the future.
The board also adopted a resolution approving LHC’s strategy for awarding HOME funds under the 2021 Spring Notice of Funding Availability (NOFA). The resolution allows the LHC to allocate HOME funds that promote maximum utilization of the available funds giving priority to projects that are able to utilize local governmental funding, demonstrate a readiness to proceed and that are located in small cities or rural parishes with demonstrated need.
