{"title":"Predevelopment revolving loan funds to develop affordable housing: Program features and how they can be strengthened","authors":"Shishir Mathur , Hilary Nixon , Shreya Chokshi","doi":"10.1016/j.cities.2024.105494","DOIUrl":null,"url":null,"abstract":"<div><div>Predevelopment revolving loan funds (PDRLFs) are pools of money from which loans are made and to which loan repayments flow in. They are a part of revolving loan funds (RLFs) that are extensively used in the US to support small businesses and housing. However, PDRLFs' use for funding affordable housing is little-studied. This paper begins to fill this research gap through a literature review and case studies to better understand the key features and the ways to strengthen affordable housing-focused PDRLFs. Finally, it suggests key strategies to strengthen them further, which include flexible funding by the state and federal governments to seed and recapitalize the funds, the need to proactively seek target loan recipients and support them, balance loan applicants' needs with lending efficiency, and view predevelopment in the context of the entire housing finance process.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"155 ","pages":"Article 105494"},"PeriodicalIF":6.0000,"publicationDate":"2024-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Cities","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S026427512400708X","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"URBAN STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
Predevelopment revolving loan funds (PDRLFs) are pools of money from which loans are made and to which loan repayments flow in. They are a part of revolving loan funds (RLFs) that are extensively used in the US to support small businesses and housing. However, PDRLFs' use for funding affordable housing is little-studied. This paper begins to fill this research gap through a literature review and case studies to better understand the key features and the ways to strengthen affordable housing-focused PDRLFs. Finally, it suggests key strategies to strengthen them further, which include flexible funding by the state and federal governments to seed and recapitalize the funds, the need to proactively seek target loan recipients and support them, balance loan applicants' needs with lending efficiency, and view predevelopment in the context of the entire housing finance process.
期刊介绍：
Cities offers a comprehensive range of articles on all aspects of urban policy. It provides an international and interdisciplinary platform for the exchange of ideas and information between urban planners and policy makers from national and local government, non-government organizations, academia and consultancy. The primary aims of the journal are to analyse and assess past and present urban development and management as a reflection of effective, ineffective and non-existent planning policies; and the promotion of the implementation of appropriate urban policies in both the developed and the developing world.
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