NOAH Preservation Lessons from the Twin Cities
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Certification Maintenance
Course Details
Delve into the details of how local governments, community development financial institutions (CDFIs), and housing providers can work together to preserve the long-term affordability and improve the quality of unsubsidized housing, or Naturally Occurring Affordable Housing (NOAH).
Learn how local governments and mission-based CDFIs in Minnesota’s Twin Cities have created a two-pronged approach to NOAH preservation, including zero-percent interest-gap loans and property tax incentives for NOAH properties that commit to long-term rent and income restrictions. Presenters cover several case studies that have paired NOAH preservation with parallel efforts to work with emerging real estate developers.
Leave the session knowing how to design a NOAH preservation strategy or program for your city or region that address one or more overlapping goals: preserving existing affordability, improving the energy efficiency and sustainability of older housing stock, improving the quality and livability of older buildings, improving partnership and communication between local government staff and housing providers, and building wealth for emerging developers
Learning Outcomes
- Understand how local government agencies and community development financial institutions can collaborate to preserve affordability and improve the condition of naturally occurring (i.e. unsubsidized) housing.
- Consider implementing NOAH preservation tools, including low- or zero-interest loans or property tax incentives, in exchange for long-term affordability housing commitments.
- Evaluate proposals from developers and emerging developers who want financial assistance or other support to preserve affordability for or rehabilitate existing housing.