Expanding Partnerships
Leveraging Capital ASSOCIATES INC
Leveraging Capital from Housing Partners
Case Study — Housing Opportunity Investment Fund, Charlotte, NC
As arecent example, Charlotte, North Carolina brought
together 11 funders, 6 government agencies, 2 community
organizations and together they created a $200M Housing USC Strategy to Maximize Impact
Opportunity Investment Fund (Figure 8). They had
identified a challenge they wanted to address, that among
America’s 50 largest cities, Charlotte ranked 50th in terms City HTF: With CHOIF: Plus:
of residents’ potential for economic mobility. With many Two Deals (4% LIHTC)* | Two Deals (4% LIHTC) Housing Authority
Charlotte residents severely cost burdened and struggling cundin cundi vouchers Produce nearly twice the
. . . . : unaing: :
to find affordable housing in areas of opportunity, partners 6 6 * Increase 30% AMI number of units
mobilized around an immediate action to produce more is Sr, units Get twice as much for
mixed-income housing for low-to-moderate income £ $9.7M City j ene , row cost debt each dollar of HTF
oye . . . . : : : : . ncrease Tinancin
households as a critical first step to improving economic i HIF ‘a ecssensseecsecssssssast , 6 Increase supply of very
mobility i. é Rae st low-income units
. a Areas o
opportunity Poe enone
Collectively, the partners are financing 1,500 units to crsene - Improved ousing locations
house families with a range of incomes. The housing is in economic mobility Improve economic
. . for residents mobility for Charlotte
areas of opportunity, thereby upending a key structural a: on
. we . . $9.7 million $9.7 million residents
barrier to health equity, in which the factors that determine a
people’s health is predicated on where they live. The paved $4.7 million in
example below shows one example of a leveraged, low- vesampl
cost capital investment model in which partnerships
enabled the city to maximize its impact with two deals by Source: Corporate FACTS, 2020
accessing the Charlotte Housing Opportunity Investment
Fund (CHOIF) instead of relying solely on its Housing Trust
Fund (HTF).
Nashua Housing Study - 76
