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MARC housing team describes regional fund aiming for roughly $100 million to finance affordable projects
Summary
Hannah Mitchell of MARC’s regional housing program said partners are developing a regional housing fund to provide low‑cost capital for community projects; she said the goal is “about a $100,000,000” fund with a target launch in late summer (around September 30).
Hannah Mitchell, regional housing program manager at the Mid‑America Regional Council, told the Board that MARC and partners including LISC and LISC Fund Management are working on a regional housing fund to provide low‑cost capital for community projects. “I think the goal is that it's about a $100,000,000 fund that we will be able to reinvest directly into our communities across the region,” Mitchell said, adding that the partners hope to launch the fund later this fall or “by September 30 ish.”
Mitchell said the fund is intended to supply locally sourced capital for community‑driven projects and to address financing gaps that impede production and preservation of affordable housing across the region. She suggested Miami County staff and officials contact MARC for details and partnership possibilities; she directed commissioners to Ashley Hand for further questions about MARC’s role.
