Shelter Funding

The New York Shelter Acquisition and Predevelopment Fund

The New York Shelter Acquisition and Predevelopment Fund (the Fund) combines $5 million in “first-loss” capital from New York City with $10 million in philanthropic, program-related investment capital arranged by SeaChanges to provide shortterm, belowmarket loans (each, a Shelter Loan) to nonprofits that are in negotiation with DHS to build, own and operate homeless shelters. The Fund was established to enhance the supply of high-quality purposebuilt homeless shelters with longterm use restrictions by offering a source to pay for predevelopment and acquisition expenses that are required prior to obtaining a longterm DHS contract against which conventional longterm financing can be leveraged. The term sheet for the Fund is available here.  Interested nonprofits can apply below and/or email jmacintosh@seachangecap.org.

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