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Harp
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Housing Asset Recovery Program partnering
with the City of San Antonio
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| Vision:
Unite underutilized properties and private sector
investment to capitalize on existing assets while preserving
housing stock and revitalizing neighborhoods |
| Objective: Leverage
private sector funds with a City of San Antonio Housing Trust
investment of $312,500 to revitalize the inner city. |
| Strategy:
Acquire vacant homes and match them to existing vacant lots
and neighborhoods. Contract with private sector partners to
provide repair and property disposition services. |
| Financing: Utilize
Fannie Mae Corporation’s American Community Fund (AFC) $1.5
million line of credit. |
Funds from the Trust are being utilized to access an American
Communities Fund (ACF) $1,500,000 revolving line of credit to
finance program activities.
Investing an Award of Trust Assistance of $312,500 provides
collateral to expand the ACF line of credit for HARP to $1.5
million.
The Role of the San Antonio Housing Trust
Funds
from the San Antonio Housing Trust (SAHT) are used to maintain
and promote decent and affordable housing, and when possible,
maximize the investment of other public and private resources.
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| Trust funds may provide
assistance to eligible programs and projects with the approval
of the San Antonio Housing Trust Board of Trustees and the
City Council. |
Through
the Special Projects Revitalization Office of the City Manager’s
Office, the City of San Antonio will provide oversight to
ensure SAHT activities are in keeping with the prescribed
goals of the SAHT program.
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