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- EIN 93-1037330
- (503) 223-3211
- 1020 Sw Taylor St Ste 585 Portland OR 97205-2510 USA
- www.noah-housing.org
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Nonprofit Overview
Causes: Homeless & Housing, Housing Development, Construction & Management
Mission: Noah is a certified nonprofit community development financial institution (cdfi) that was established to increase the state's supply of affordable housing while strengthening oregon communities. Noah strengthens communities through flexible financing, strategic partnerships, and creative solutions that build and preserve affordable housing in oregon. Noah offers a variety of loan products to support the acquisition, renovation and construction of affordable housing properties that primarily serve households who earn below 60% of the area median income. Through its subsidiary, mpower oregon, noah focuses on strategies for sustainable, affordable housing, specifically through coordination and financing of efficiency upgrades in multi-family properties. Noah also facilitates the oregon housing preservation project, a statewide collaboration of public and private stakeholders dedicated to preserving oregon's at-risk, publicly subsidized housing.
Programs: Permanent loan program:noah provides financing and technical assistance to facilitate the development of affordable housing in the state of oregon. During fiscal year 2016/2017, eight (8) permanent loans were closed. The total dollar value of these loans was $11,490,478 and created or preserved 358 units of housing.
preservation loan program:these loans target the acquisition and preservation of (1) federally rent-subsidized units that are at risk of conversion to market rates, (2) manufacturd home parks, and (3) land in desireable locations to preserve for development of affordable housing. During fiscal year 2016/2017, two manufactured home parks were preserved as affordable. The total dollar value of the loans for the parks was $4,000,000 and preserved 183 units of housing. The total dollar value of the land preservation loans was $1,500,000; 22 units of affordable homes for ownership will be developed. Continued on schedule opredevelopment loan program:these loans provide capital for both land acquisition and predevelopment activites. During fiscal year 2016/2017, two predevelopment loans were closed. The total dollar values of the loans was $1,500,000; 22 units of affordable housing will be developed. Other/gap loans: these loans provide noah flexible capital for loans not appropriate for bank-source funding. Four (4) other/gap loans were closed during fiscal year 2016/2017. The total dollar value of the loans was $2,907,000 and 276 units of affordable housing were financed.
mpower oregon:noah is sole member of mpower oregon llc. Mpower offers an integrated solution for lowering energy and water expenses at existing affordable multifamily properties through loans and grants. Mpower delivers immediate savings to owners and occupants through project management of building upgrades and ongoing technical support services.
noah earns bond and loan servicing fees.