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Find similar grantsNew York Shelter Acquisition and Predevelopment Fund (NYSAPF) is sponsored by SEACHANGE CAPITAL PARTNERS INC. Provides short-term, below-market loans to nonprofit homeless shelter operators for acquisition and predevelopment of facilities.
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The New York Shelter Acquisition and Predevelopment Fund(the“F und”) combines $5 million in “first-loss” capital from New York City with $10 million in philanthropic, program-related investment capital arranged by SeaChange to provid e short–term, below–market loans(each, a“Shelter Loan”)to non profits that are in negotiation with the New York City Department of Homeless Services (“DHS”) to build, own, and operate homeless shelters.
The Fund was established to enhance the supply of high-quality, purpose–b uilt homeless shelter s with long–term use restrictions by offering a source to pay for predevelopment and acquisition expenses that are required prior to obtaining a l ong–term DHS contract against w hich convent ional long–term financing can be leve raged. The press release announcing the Fund is here.
More information about the requisite Long Term Shelter Contracts with Nonprofit Ownership is here,the term sheet for the Fund ishere, and a webinar about the fund is here. Interested nonprofits can apply below and/or email jmacintosh@seachangecap. org.
According to the current listing, eligibility includes: Nonprofit homeless shelter operators. Confirm the full requirements in the official notice before applying.
New York Shelter Acquisition and Predevelopment Fund (NYSAPF) is funded by SEACHANGE CAPITAL PARTNERS INC. Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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