Making Sense of Term Sheets
HPD and HDC recently released new term sheets outlining their new housing programs. The term sheets reflect the administration’s housing policy goals, such as broadening the range of incomes served through affordable housing programs and increasing the number of units that are set aside for homeless households. There is also a strong focus on cost containment and reducing the amount of subsidy per unit in order to stretch existing resources, as well as encouraging more competition among developers.
CHPC has prepared a summary of the new term sheets which allows users to view their main characteristics side by side and to easily compare the programs. Readers should refer to the official term sheets (HPD and HDC) for full details on these programs. (The summary was updated on 5.21.2015 to add the new Green Housing Preservation Program).
CHPC’s Term sheets summary.