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HUD 108 Loan Guarantee Program
HUD Section 108 Loan Guarantee Program. The HUD Section 108 Loan Guarantee Program provides communities with the financing necessary to invest in large-scale community revitalization and infrastructure improvement projects. Section 108 borrowers must pledge their current and future CDBG dollars to secure the Section 108 funds, a step a lot of communities are reluctant to take. This two-day course is specifically designed to help potential borrowers understand how to best use Section 108 to improve their communities while minimizing the risk to their CDBG dollars. Funded by HUD and developed by NDC, participants learn the goals of Section 108, how it stimulates and leverages private sector investment and how to evaluate and mitigate the risks of Section 108 lending. Specific topics include:
- Section 108 program documents
- CDBG regulations
- Effective deal structuring
- Underwriting for various types of economic and community development projects
- The closing process
- Defeasing a Section 108 loan
- Eligibility and use of Section 108 for projects
- Development a portfolio management system
- Using Section 108 to leverage other funding, including New Markets Tax Credits
Prerequisite: None
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