Description
The Hawaii Housing Finance and Development Corporation is seeking a credit facility to support the recycling of private activity bond proceeds for multifamily tax-exempt loans. The selected financial institution will provide a revolving credit line backed by HHFDC's general obligation and secured by loan repayments. The facility will have a maximum commitment of up to $150 million, with a term of two years. The proposal should include pricing, fees, and terms consistent with market standards and HHFDC's affordability mission.
• The purpose of the credit facility is to maximize the use of Hawaii's private activity bond volume cap.
• The facility will be used to support the recycling of private activity bond proceeds for new multifamily housing loans.
• The selected financial institution will provide a revolving credit line backed by HHFDC's general obligation and secured by loan repayments.
• The facility will have a maximum commitment of up to $150 million, with a term of two years.
• The proposal should include pricing, fees, and terms consistent with market standards and HHFDC's affordability mission.