Organization Name: Interfaith Affordable Housing Collaborative
Project Title: Interfaith Affordable Housing Collaborative
Project Location: 58 Washington Square South NYC, 10012
The Interfaith Affordable Housing Collaborative provides Faith Based organizations with property with technical guidance and pre-development forgivable loans to develop affordable and supportive housing while protecting the interests of the FBO. Our 6 phase pre-development process: Phase One - Discernment. Assist FBOs to deterimine if they have the resources and capacity to complete a financially viable mission consistant project. Phase Two - Preparing a "scope of work". The FBO presents its detailed objectives and list of development profesionals to apply for a forgivable pre-development loan of up to $30,000 Phase three - Completion of the scope of work. Upon approval of the scope of work, the collaborative authorize a forgivable loan of up to $30,000. The 1st portion is released to the FBO to complete the scope. Phase four - Completion and marketing of an RFP/RFQ. Upon completion of the scope of work, the Collaborative releases the 2nd portion of loan funding the development of an RFP/RFQ and identification of potential development partners Phase five - Negotiating a Development agreement. When potential development partners are identified, the 3rd portion is released, negotiations begin.
In New York City and State, hundreds of faith based organizations have property with the potential to develop affordable or supportive housing but many don't have the technical expertise or pre-development funds to determine if they have they have the capacity to develop this housing. In addition, many FBO's are understandably hesitant to enter into an agreement with a developer having heard of many examples of development agreements in which the FBO's interests have not been protected.
The collaborative works with a broad network of faith groups to inform them about the development process and helps to identify housing development professionals and establish equitable agreements that ensure a level playing field.
If you are an FBO with property interested in developing affordable or supportive housing, we invite you to contact us.
If you are a housing development professional interested in partering with us, please contact us.
The Interfaith Affordable Housing Collaborative is 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 Collaborative has also come from the Collegiate Church Corporation and the Dergah Al Farah.
Marc Greenberg, IAHC president, E.D. Interfaith Assembly, Peter Cook -- IAHC Vice President, E.D NY State Council of Churches, Kate Toth IAHC Board member, E.D. Bricks and Mortals