Financing of independent and assisted-living retirement communities by nonprofits

The article provides reasons for decreased activity in the development of market rate senior housing and briefly describes the criteria lenders use to assess risk. It summarizes the various financing options available for nonprofits to finance senior housing projects. Options discussed include tax-exempt bond financing: different supportive senior housing options administered by the Department of Housing and Urban Development, such as Sections 202, 232, and 221 (d)(3) and (4); the HOME Investment Partnership Program (HOME Program); and low-income housing tax credits.