A coalition of Kansas City foundations has committed early funding toward the planned $100 million Kansas City Regional Housing Fund, a new financing initiative designed to create or preserve 3,500 to 5,000 affordable housing units across the nine-county, Kansas-Missouri two-state region. Funding partners include the Hall Family, Bloch Family, Health Forward, Menorah Heritage, and Sosland foundations. Led by the Mid-America Regional Council and Local Initiatives Support Corporation, the fund will provide low-cost, flexible capital to developers through low-cost loans from banks and foundations, and equity investments, alongside forward purchase agreements that guarantee builders a buyer for finished homes, effectively derisking bank loans.
LISC, MARC-led partnership launches $100M Kansas City affordable housing fund
A $100 million fund could spell more affordable housing in Kansas City
Thomas White
Kansas City Beacon
Graphic created from original photo. Credit: Pexels/Joaquin Carfagna
This note filed under: Cities, Collaboration, Community Development, Economic Development, Economically Disadvantaged, Housing
