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In December
of 2000, NAHPA formed the Rural Rental Housing Fund, LLC (RRHF),
a loan fund to provide pre-development support to organizations
seeking to acquire, preserve, or develop rural affordable housing.
NAHPA has entered into a joint agreement with Mercy Loan Fund to
co-manage RRHF. Mercy Housing Loan Fund is a subsidiary of Mercy
Housing, Inc. Mercy Housing Inc., a widely respected faith-based
non-profit developer, has more than twenty years of experience developing
and financing affordable housing throughout the United States.
Initial RRHF
funding was received from the U.S. Department of the Treasury's
Community Development Financial Institutions Fund (CDFI) and Mercy
Housing through the Mercy Loan Fund. A joint committee comprised
of NAHPA and Mercy representatives oversees day-to-day administration
of the loan fund.
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©2002 National Affordable Housing Preservation
Associates, Inc.
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