Housing Giants - June 23, 2008 - (Page 22)

workforce American Sunrise Communities created a public service announcement calling New Orleans residents to action. Watch its promo for the Gates on Manhattan project in that area. Watch Video profit affordable housing developers the fund will catalyze large scale development. ▪ Leverage the development of affordable housing at a ratio of 1-10. For every dollar the fund invests on a project, $10 of additional capital will be leveraged. We estimate that a $200 million lowcost capital fund could generate from 30,000 to 38,000 units depending on whether they are for sale or rental units. loans; causal capital; and programrelated investments, we believe the American Sunrise Fund, a pool of lowcost resources to help people obtain affordable housing, will catalyze largescale community-based housing programs and provide a new innovative platform for capable builders and cities to embrace. Over the next decade, we expect the American Sunrise Fund to: ▪ Shift national policy to support mixed-income housing and builder cross-subsidies as a viable and acceptable non-profit affordable housing strategy. Once the fund is operational, Sunrise will seek an IRS letter ruling to promote builder participation in mixed-income housing subsidies as a charitable tax-exempt purpose. As you can see, collaboration between governments and businesses can create positive outcomes. We’re looking forward to the positive results. HG ▪ Innovate affordable housing development by leveraging the broadest range of stakeholders, including builders, businesses and local governments. By expanding the existing financing models beyond local non- 22 HOUSING GIANTS.6.23.08 www.HOUSINGGIANTS.cOm http://www.youtube.com/watch?v=w4v_kuTCIx8 http://www.americansunrise.org/american-sunrise-fund.asp http://www.housinggiants.com

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Housing Giants - June 23, 2008 Contents Viewpoint News and Moves Sell Workforce The Land Dilemma

Housing Giants - June 23, 2008

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