Gateway Loan Pool
Staff has been successful in attracting capital from financial institutions for Participation Loan Pools in St. Louis and Kansas City. Plans progress to deploy these funds beginning early in the 4th quarter of 2013. In St. Louis these funds will be used for pre-development lending for LIHTC proposals and first mortgage financing for LIHTC properties in need of repositioning at the end of the compliance period. In Kansas City, the pool will be used for neighborhood preservation by funding the purchase of distressed properties, rehabilitation, and re-sale to eligible homeowners.