Interfaith Collaboration for Affordable Housing – NYHC

Name of the organization: Interfaith collaboration for affordable housing

Project title: Interfaith collaboration for affordable housing

Project location: 58 Washington Square South NYC, 10012

Project description:
The Interfaith Affordable Housing Collaborative provides faith-based real estate organizations with technical advice and pre-development forgivable loans to develop affordable housing and support services while protecting the interests of the FBO. Our pre-development process in 6 phases: Phase 1 – Discernment. Help FBOs determine if they have the resources and capacity to complete a project consisting of a financially viable mission. Phase two – Preparation of a “scope of work”. The FBO presents its detailed objectives and the list of development professionals to apply for a pre-development forgivable loan of up to $ 30,000 Phase Three – Scope of Work Completion. After approval of the scope of work, the collaborative authorizes a forgivable loan of up to $ 30,000. The 1st part is given to the FBO to complete the scope. Phase Four – Completion and Commercialization of an RFP / RFQ. At the end of the scope of work, the collaboration releases the 2nd part of the loan financing the development of a DP / RFQ and the identification of potential development partners Phase Five – Negotiation of a development agreement. When potential development partners are identified, Part 3 is released, negotiations begin.

Impact on the community:
In New York City and State, hundreds of faith-based organizations have properties with the potential to develop affordable or supportive housing, but many lack the technical expertise or pre-funding. development to determine if they have the capacity to develop these homes. . Additionally, many FBOs are understandably reluctant to make a deal with a developer who has heard of many examples of development deals in which the FBO’s interests have not been protected.

The collaboration works with a large network of faith groups to inform them about the development process and helps identify housing development professionals and establish fair agreements that ensure a level playing field.

If you are an FBO with a property interested in developing affordable or supportive housing, you are welcome to contact us.

If you are a real estate development professional interested in working with us, please contact us.

Description of the organization:
The Interfaith Affordable Housing Collaborative is a member of the Partnership for Faith Based Affordable Housing Development, along with the Interfaith Assembly Assembly on Homelessness and Housing, the New York State Council of Churches and Bricks and Mortals. The partnership was established in 2020 with a grant from Trinity Church Wall Street. Funding for the collaboration also came from the Collegiate Church Corporation and Dergah Al Farah.

Members of the team:

Marc Greenberg, IAHC President, ED Interfaith Assembly, Peter Cook – IAHC Vice President, ED NY State Council of Churches, Kate Toth, IAHC Board Member, ED Bricks and Mortals

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