April
11
2013
Helps get developer fee up front; has provided $1.2M in liquidity so far
BOSTON, April 11, 2013 --- Nonprofit developers using tax credits to develop affordable rental housing should consider using MHP's Housing Reserve Assurance Program (Housing RAP), which in two years has helped five community development organizations realize $1.2 million in developer fees that might otherwise have gone toward cash-funded operating reserves or other long-term reserves.