Sept. 2015. Needs Assessment for California Community Land Trust Network Revolving Loan Fund The needs assessment is to evaluate lending and investment needs for acquisition of new CLT projects in California. It is based on the Bay Area consortium assessment we did in Aug. 2015. Purpose of the needs assessment is for California CLTs to evaluate what type of loan fund, uses, terms etc. we need, prior to inviting potential investors/lenders and fund administrators to participate in designing the fund. Please return to Francis Mcilveen ([email protected]) or Ian Winters at the NCLT ([email protected]) / 510-548-7878 x343 Organization Data Date filled out: Organization: Lead Contact: Phone: Email: URL: Address: Service area in general: Counties served: Assembly & Senate districts served: Congressional districts served: Approx. market value of portfolio: Number of current units: Home-keeper user? National CLT Network Member? Answer Survey Question What are the types of uses for which you would borrow? (e.g. gap/bridge financing; long-term or intermediate term temporary subsidy) Answer How many projects per year do you anticipate needing such loans? What is the minimum term needed? What interest rate range would work for your CLT? What amount of loan (range) for each project? How much per unit / what is the typical number of units? Describe the source & terms of your likely take-out funding or subsidy. List your preference & reasons for having (or not-having) the underwriting of loans done by an independent 3rd party. What are the income ranges for target households in anticipated projects? (which could affect the capital sources of RLF) please attach a chart w/ #s of units by AMI category if possible. Does this money need to function as equity? Would you anticipate being able to bring any down payment/equity to the table in addition to this? Would you anticipate future residents being able to bring funds (equity or loan) to the table? What types of projects do you anticipate using these funds with (e.g traditional ownership, co-operatives, collective households, resident controlled / managed rental, condo, etc). Would it help projects if the loan fund could act as a provider of temporary subsidy? E.g. for a 10 to 20 year term. We are thinking of something like a Community equity fund—long term $, where lenders are paid off with a modest rate of return. Payoff might be structured via incrementally increased housing payments (cashflow contingent), thus taking advantage of cyclical discrepancy between rents & incomes in project (as nominal AMI grows). For example: Min 10 to 15 year term (longer than 1st loan--enough so--that 1st lender has no objections to it, or to the ability to get it’s loan paid off at term via refi). Repayment is cash flow contingent, but balloon at term. Would your organization be able to assist in fundraising for a state-wide fund? Would a mechanism to target funds to your local area be important for your donor base? Do you have any suggestions for prospective investors, lenders, or any suggestions on structural models to use?