LENDING PROGRAMS:

PMHDC offers a variety of financing mechanisms to facilitate housing and community development.   Combining lending resources with a disciplined approach to loan investments permits PMHDC Housing to provide financial solutions for the variety of housing and community development projects. Alternative financing strategies, layering of multiple financing sources and innovative structuring of loan terms garnered from repeated financial problem solving contributes to the ability of PMHDC Housing to provide a responsive, practical lending resource.  

As an experienced financial intermediary of public and private funds, PMHDC has become the largest provider of alternative financing in rural Arizona.   More than $12.4 million in loans for housing and micro-enterprises have been made.   The portfolio currently has more than $4.869 million in outstanding loans.

The following is a summary of these lending sources.  

• USDA Intermediary Relending Program
• Loans for predevelopment activities and site development, community facilities, equipment and other eligible purposes.
• Rural Housing and Economic Development Program
• Construction loans to nonprofit organizations for the development of home ownership opportunities and self-help home ownership programs.
• Zero interest loans to businesses to purchase or enhance their computer and communications technology.
• Loans for predevelopment, site development and housing serving special populations.
• Loans to facilitate housing, economic and community development in colonials and small rural communities. The communities of Patagonia, Willcox, Douglas, Miami, Nogales, San Luis, Somerton and Wenden-Salome are currently targeted to receive these services, but other communities may be added during the project.  
• Scholarships to pay for job training are also available.

PMHDC Housing Division Loan Fund Projects

Youth build, Somerton, AZ  

PPEP's Youth build Program in Somerton, AZ built its first house using funding from PPEPMicrobusiness and Housing Development Corporation

 

Joshua Tree Lampshades and Antiques Store, Miami, AZ

The business received a loan to purchase and renovate a historic building located in Miami's downtown area.   The owner has renovated the second floor to develop four rental apartments that will be used as housing for developmentally disabled adults

Superior Highlands, Somerton, AZ  

Superior Highlands in Superior, Arizona used construction loans from PPEP Microbusiness and Housing Development Corporation to build site improvements and homes.

CARIVACA PROJECT, Arivaca, AZ  

Carivaca Estates, Arivaca, AZ  

PMHDC provided financing for the acquisition and construction costs for Carivaca, an assisted living care facility for the elderly

Leveraging funding from private socially responsible investors with PMHDC loan funds and other financing sources.

Recent projects include:

•  Loan to finance acquisition of a business site and renovation of four apartments for developmentally disabled adults in Miami, AZ, converting into a permanent loan upon completion of construction.

•  Predevelopment and site improvement loan to develop 40 units of farm worker rental housing and 15 self-help home ownership sites in Willcox, AZ.

•  Acquisition and site improvement loan to develop 32 units of farm worker rental housing and 70 sites for home ownership in Somerton, AZ.

•  Acquisition loan to develop 50 acres in San Luis, AZ for self-help housing and affordable home ownership programs.

•  Acquisition and construction loan converting into a permanent loan for a ten bed elderly assisted care facility in Arivaca;

•  Mortgages for very low income home buyers blending financing with low interest-rate Rural Development Section 502 mortgages;

•  Predevelopment, site improvement and construction loans to build housing in a 110-unit single family subdivision in Superior, AZ.

•  Acquisition and construction loans for single family homes being built in conjunction with PPEP's HUD Youth build Program;

•  Predevelopment and site improvement loan to develop 132 lot subdivision in rural Pima County;

•  Community facility loan to acquire office space for a large nonprofit in San Luis, AZ;

For more specific information on program and lending requirements, contact Kevin Hale ( khale@ppep.org ).