Two Travois clients, White Mountain Apache Housing Authority and Standing Rock Housing Authority, will receive Affordable Housing Program grants for housing projects on their reservations after receiving awards from the Federal Home Loan Bank of San Francisco. Another client, Northern Cheyenne Tribal Housing Authority, will receive a grant from the Federal Home Loan Bank of Seattle. Travois provided application consulting services for all three projects.
“We’re extremely proud that we were able to help our clients win these AHP awards,” said David Bland, chairman of Travois. “The AHP Program is a great resource to use in conjunction with the Low Income Housing Tax Credit program, and when combined, they can make a difference in providing decent, safe and affordable housing in Indian Country.”
White Mountain Apache Housing Authority of Arizona will receive $514,000 for its third tax credit project, AZ 16-36 Chinatown Rehab Project, which is rehabbing 49 housing units. WMAHA partnered with member bank JP Morgan Bank and Trust Company to submit the application.
Standing Rock Housing Authority will receive $670,463 to go toward its 17th project, Standing Rock Homes #17, which is rehabbing 62 housing units in South Dakota. Bank of Arizona, as the member bank, sponsored the application.
Northern Cheyenne Tribal Housing Authority will receive $305,966 through First Interstate Bank for the rehabilitation of the 34-unit Shoulder Blade Complex, which is housing for elderly tribal members.
The housing authorities will use the extra subsidy to reduce or eliminate the need for tribal funding in their projects.
The AHP program is a competitive program that provides grants and subsidized loans to support affordable rental housing and homeownership opportunities. Member banks partner with developers or community organizations to finance the purchase, construction or rehabilitation of low-income or moderate-income housing. AHP funds can be used in combination with other programs and funding sources, including the LIHTC program and NAHASDA. To view the full list of award recipients from San Francisco’s Round B, click here or for Seattle’s list, click here.
Travois Inc. has worked more than a dozen tribes on successful AHP applications, helping them to receive more than $10 million in AHP funding to supplement investor equity from the Low Income Housing Tax Credit program.
Since 1995, Travois has been the leading housing consulting firm in Indian Country, working with tribal clients to alleviate housing shortages and rehabilitate substandard homes. Travois has helped clients to build or rehabilitate more than 3,000 homes in states stretching from Maine to Washington and has brought in $300 million in investor equity using the Low Income Housing Tax Credit program. Travois also offers asset management and design and inspection services. In addition, Travois New Markets is working to invest $30 million in New Markets Tax Credits in economic development projects in Indian Country. For more information, please visit www.travois.com.