In this COVID-19 Special Series episode of Advancing Communities Podcast, Cinnaire CSO Jim Peffley talks with Steve Spears, CFO of Mercy Housing, a national nonprofit developer, manager, and lender of affordable housing properties. Jim and Steve discuss the challenges diverse organizations like Mercy Housing face and how they are navigating through the COVID-19 crisis. This timely conversation addresses the biggest issues facing organizations in the affordable housing industry right now, including:
- Assessing COVID-19 risk and the impact on rental collections
- The impact on affordable housing deals in the development process
- How lending for affordable housing is adapting to address COVID-19 challenges
- Applying learnings from the housing market collapse in 2008/2009 to the current market crisis
Mercy Housing is one of the nation’s largest nonprofit affordable housing organizations. They participate in the development, preservation, management and/or financing of affordable, program-enriched housing across the country.