Affordable Housing Predevelopment Loan Application

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Predevelopment Loan Application

The Arizona Community Foundation has been providing impact loans to support communities across the state for more than 15 years. We offer loans to qualifying nonprofits, schools, and municipal organizations to assist in completing essential projects that benefit our communities. These loans help organizations fill gaps where commercial lenders fall short, often serving as the catalyst to launch projects that serve the common good. As loans are repaid, funds become available for use with other projects, creating a continual recycling of charitable capital.

Local Initiatives Support Corporation (LISC) Phoenix is a partner of the Arizona Community Foundation providing administration and underwriting services for affordable housing funds. LISC Phoenix will be collecting and processing this application. All communication about your application will come from a LISC Phoenix program officer. 
This fund was established in 2007 to jump-start the development of affordable housing projects throughout Arizona. Loans from this fund primarily address obstacles faced by nonprofit developers in relation to up-front predevelopment costs that are necessary to secure permanent financing.
Applications may be for projects anywhere in Arizona. First time borrowers may apply for $100,000; an additional $100,000 may be awarded conditional on receiving a LIHTC award. Returning borrowers may apply for $200,000. Loan terms are 36 months with the ability to request an extension.
Applicants must be an Arizona non-profit affordable housing developer, owner or operator.
Project applications will be reviewed as they are received and this application will remain open as long as the Fund is in existence. 

In addition to completing all questions in the following form, you will be asked to upload the following back-up documentation: 
  • Comprehensive Community Development Plan, if applicable (form page 2)
  • MOUs or similar agreements partners, if applicable (form page 5)
  • Construction budget (form page 5)
  • Brief construction timeline (form page 5)
  • Sources & uses statement (form page 5)
  • Proof of all committed financing (form page 5)
  • Project pro forma, if applicable (form page 5)
  • Financial Statements for the most recent year for pre-qualified developers, or three years for all others (form page 5)
Please review the checklist of organizational, financial and project information documents that LISC may request later in the process.  

You can navigate through the form without completing required answers. Use the links at the top or bottom of the form to save your application and return to it. Applications will not be reviewed until they are complete and submitted. 
            Contact infophx@lisc.org with questions about this application or loan requirements. 
            Click "NEXT PAGE" to begin the application. 

            Page 2: Applicant Profile

            Pre-Qualification
            Developers may be pre-qualified based on their history if they:
            1. have received, in the previous 24 months, grant or loan funding from one of the following entities: LISC, the Arizona Community Foundation Affordable Housing Pre-Development Fund, the Home Matters Arizona Fund, Arizona Department of Housing, or an Arizona county, municipality or IDA, and 
            2. are in good standing with that grantor and/or lender and current on loan payments, if applicable.
            If you have not been pre-qualified, you will be asked to answer the RFQ questions within this application.
            Application Information
            Applicant
            Primary Contact
            Comprehensive Community Development Guiding Documents
            Guiding Documents
            Development Experience
            Development Partnerships

            Page 3: Project Overview

            Funding Request
            $
            .00
            $100,000 for new borrowers. $200,000 for return borrowers.
            Project Location
            Project Summary
            Provide a concise overview of the project, the need it serves and how it will contribute to the supply of affordable housing in Arizona.

            Note: A full narrative will requested below.
            Limit 5,000 characters.
            Project Financing
            $
            .00

            Select all that apply. This answer is for LISC record-keeping only.
            Site Valuation
            $
            $
            $
            Zoning & Environmental Asssessment


            Project Narrative
            In no more than 1,000 words: 
            • Tell us about your project and the community needs it serves. 
            • What need will this pre-development loan fulfill? 

            Page 4: Project Details

            Project Information
            Size

            Square Footage

            Enter 0 if none.
            SF
            SF
            SF
            Residential Project Type

            Select all that apply.
            Non-Res/Commercial Project Types

            Select all that apply. This answer is for LISC record-keeping only.

            Select all that apply. This answer is for LISC record-keeping only.
            Rental Housing Unit Details
            Number of Units by Type of Construction
            Enter 0 if none.
            Number of Units by Bedroom Size
            Enter 0 if none.
            Number of Rental Units by Type of Tenant
            Enter 0 if none.
            Number of Rental Units by Level of Affordability
            Enter 0 if none.
            Select all that apply.

            Page 5: Upload Supporting Documents

            Include the applicant name as the start of all file names. Accepted files types are .pdf, .doc, .docx, .xls, .xlsx.  
            Project Documentation
            Applicant Financial Information
            Click "SUBMIT" to complete your application. You will not be able to edit the application after it has been submitted. A copy will be emailed to you at address you provided.  
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