Real Estate Development
For more information on ICE loans, contact:
Director of Lending
Stay informed. Sign up to receive emails from NHT
Home >Lending >Community Land Trusts & Shared Equity Housing > Borrowing from ICE
Institute for Community Economics Loan Fund
Founded in 1979, the Institute for Community Economics (ICE) is credited with pioneering the modern community land trust (CLT) model, a housing model that develops equity for homeowners while preserving public subsidy and affordability in perpetuity. Today ICE is a federally certified Community Development Financial Institution (CDFI) offering pre-development, acquisition, rehabilitation, bridge loans and more to create community land trusts, shared equity and permanently affordable housing, including homeownership opportunities.
Since inception, ICE's revolving loan fund has loaned over $58 million, representing more than 470 loans to community organizations in 30 states and facilitating the development of nearly 5,000 permanently affordable homes.
The ICE Loan Fund is funded by generous donors and a network of socially responsible investors via the ICE Investor note.
Shared-Equity and Community Land Trust Housing Development Financing*
Rate: 5.5%-6.5% (Determined by Loan Committee on case by case basis)
Loan Amount: up to $1,000,000.00
Term: Up to 60 months (additional interest only construction period may be added to term)
*rental and homeownership properties are eligible
Acceptable Uses for ICE Loan Funds
• Bridge to Subsidies
• Foreclosure Avoidance/Purchase from Foreclosure
• Predevelopment Cost
Looking for additional information on Community Land Trusts?
The National Community Land Trust Network is a membership organization with valuable resources for groups and individuals interested in community land trusts. Link to their website at: www.cltnetwork.org.