Our directive is investing in tax-exempt revenue bonds, where the proceeds are used to finance the construction, significant rehabilitation, acquisition or refinancing of affordable housing in the United States. We believe we can offer developers an efficient plan of finance through our Direct Bond Purchase Program. This enables the developer to deal directly with the source of financing and reduce the need for additional intermediaries in the process. We offer a low cost solution, reduced risk and a shorter time horizon. Since we’re investing for our own portfolio, we can manage the bond process as well.
This reduces the financing timeline significantly as well as reducing costs. The developer can feel more certain about the timing and structure of their transaction and benefit from a fast and seamless plan of execution to closing.