D.C. housing agency’s new indenture spurs low-income development plans

Mortgage

The District of Columbia Housing Finance Agency plans to accelerate financing for low-income development after a successful test run of a new framework for borrowing.

The DCHFA sold $34.4 million of Federal Housing Administration-insured pass-through revenue refunding bonds on Aug. 8 in the 38-year old agency’s first series of bonds issued under its newly established Multifamily Development Program Parity Indenture. The bonds, which were sold in a negotiated sale by senior manager Jefferies, helped create net present value savings of $7.52 million.

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