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Finance New Orleans

Issuer Type: Housing

BBB

On behalf of the Finance New Orleans, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the agency, as it allows us to make critical investments in public infrastructure throughout New Orleans. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of Finance New Orleans. Please do not hesitate to contact our office with suggestions for how we can improve. Thanks again for your interest in our bond program.

Byron B. Badger, Vice President & Chief Financial Officer

News & Highlights

July 30, 2020

Press Release
FANO Launches Developer Webinar Series Amid CEA Partnership With The City And Louisiana Housing Corporation

FANO Launches Developer Webinar Series Amid CEA Partnership with the City and Louisiana Housing Corporation

NEW ORLEANS, La. – The Finance Authority of New Orleans (FANO) has announced its partnership with the Louisiana Housing Corporation (LHC) to provide more affordable housing in the City of New Orleans. The Cooperative Endeavor Agreement (CEA) between the City, FANO and LHC is designed to build public agency coordination that will increase affordable housing development in New Orleans.

“Affordable housing has always been a top priority of this administration. This need is even more critical as residents face additional challenges due to the COVID-19 pandemic, “ said Mayor LaToya Cantrell. The CEA will allow FANO to offer affordable financial products including tax-exempt bonds, property tax exemptions and green infrastructure loans to developers building affordable, climate resilient housing.

As part of FANO’s climate resilient financing program roll-out, the agency has planned a series of monthly virtual workshops for area developers and contractors to discuss topics related to sustainable building. “The Developer Webinar Series is an opportunity for beginner and experienced developers to learn about FANO’s affordable housing products with an end goal of stimulating affordable housing production and job creation,” said Damon Burns, FANO CEO and President. “Mayor Cantrell and the City Council have instructed FANO to increase economic opportunity by prioritizing beginning developers and contractors. Coordination with LHC will allow us to move webinar attendees from class to the closing table. Each public partner understands the urgency and has committed investments to solve our affordable housing crisis,” Burns said.

“I am proud to partner with the Finance Authority of New Orleans and the Louisiana Housing Corporation to ensure improved public agency coordination to help make this happen. Together we are working to meet people where they are, using webinars to educate developers on how to create more housing and more jobs,” said Mayor Cantrell.

FANO’s Developer Webinar Series will provide developers and builders with key information pertaining to the benefits of partnering with its agency to create more opportunities for affordable, climate resilient housing and commercial space throughout New Orleans. FANO’s first Developer Webinar Series Workshop will include Marjorianna Willman, the City’s Director of Housing Policy & Community Development and LHC Executive Director E. Keith Cunningham, Jr., as presenters. Burns, Willman and Cunningham will discuss their new CEA partnership to fund sustainable, affordable multi-family housing and green infostructure.

“Mayor Cantrell has a vision of the City working across lines, partnering with LHC and FANO to provide affordable and sustainable housing throughout the City. In the COVID-19 world it is not just a goal but a must,” said Willman. “One of the Louisiana Housing Corporation’s greatest tools for increasing housing sustainability in Louisiana is our 4 percent Low-Income Housing Tax Credits,” said Cunningham. “Our partnership with FANO leverage’s that tool with new and existing partnerships to address the needs of New Orleans’ communities and developers. In this way, we ensure our commitment to provide affordable, resilient housing to New Orleanians, while at the same time, creating economic opportunities that are beneficial to everyone involved,” Cunningham said.

The Developer Webinar Series begins Friday, July 31st, and will continue indefinitely. Each month FANO will present experts in the developer field to discuss topics such as green financing & building standards, taxes & bonds, and more. All workshops will commence at 11am and will be geared to both larger-scale and smaller developers, and related local businesses. To attend FANO’s Developer Webinar Series Workshops, RSVP via Eventbrite. The Developer Webinars will also be available on FANO’s YouTube channel. For additional information about FANO’s Developer Webinar Series, email inquiries to RSVP.FANO@gmail.com.

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May 26, 2020

Press Release
FANO Partners With LHC And The City To Provide More Affordable Housing

Finance Authority of New Orleans partners with Louisiana Housing Corporation
and City of New Orleans to provide more Affordable Housing

NEW ORLEANS, La. – Finance Authority of New Orleans (FANO) has announced its partnership with the Louisiana Housing Corporation (LHC) to provide more affordable housing in the City of New Orleans. The Cooperative Endeavor Agreement (CEA) between the City, FANO and LHC is designed to build public agency coordination that will increase affordable housing development in New Orleans.

“Cooperation among government agencies is needed to address the large amount of demand for affordable and climate resilient housing,” said Damon Burns, FANO CEO and President. “This agreement is an example of the type of collaboration required to deliver more value to the community,” Burns said.

The CEA will allow FANO to offer affordable financial products including tax-exempt bonds, PILOTs and green infrastructure loans to developers building affordable, and climate resilient housing.

“This is a unique partnership between the State and municipal entities,” said LHC Executive Director E. Keith Cunningham, Jr. “Housing is a local concern, and having local partners ensures that we get it right. This endeavor gives us the ability to make an even greater impact within the City of New Orleans,” said Cunningham. The program will officially launch in June 2020.

For over 40 years, FANO has been committed to making homeownership possible for families in New Orleans. FANO recently updated its mission in response to the need for more environmentally sustainable housing and infostructure in Orleans Parish. For more information about The Finance Authority of New Orleans, please call (504) 524-5533 or visit financeauthority.org.

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May 7, 2020

Press Release
Community Support Fund Created For Rental And Utility Assistance During COVID-19

Community Support Fund Created for Rental and Utility Assistance During COVID-19

The Finance Authority of New Orleans provides flexible resources to qualified families in Orleans Parish

NEW ORLEANS, La.—The Finance Authority of New Orleans (FANO) has announced the establishment of their Community Support Fund (CSF) in response to the Coronavirus (COVID-19). These funds will help Orleans Parish residents who qualify with rent or utility assistance in the wake of the pandemic.

Funds will be awarded to potential homebuyers and existing homeowners who qualify as part of the vulnerable populations disproportionately affected by COVID-19. The CSF is designed to complement FANO’s other community assistance programs and resources. In addition to providing rent and utility assistance, the CSF will also develop a transition plan for each potential homebuyer to ensure they are prepared for a post-COVID-19 environment.

“This is an extremely difficult time for all New Orleanians, especially for those who have lost loved ones, income, or have experienced other hardships that prevent their ability to maintain a stable home,” said Damon Burns, FANO’s President and CEO. “Our mission with this Fund, and with our other programs, is to provide financial products that improve the quality of life in New Orleans, with a focus on affordable housing, job creation and environmental protection,” Burns said.

The CSF primarily focuses on potential homebuyers and homeowners within Orleans Parish who have suffered a substantial loss of income due to the COVID-19 pandemic. Qualifications include, but are not limited to the following: reduction in job compensation, an obligation to be absent from work to care for home-bound school-aged child(ren), or job loss. Funding will be pooled into two categories for disbursement:

Category 1

  • Rental assistance with a maximum benefit amount of $500 per household

Category 2

  • Utility assistance with a maximum benefit amount of $75 per household

To apply for FANO’s CSF assistance, residents should call (504) 524-5533, (504) 354-0904, or email: csf@financeauthority.org. Applicants will be pre-screened to determine basic eligibility and will receive notice of the documentation needed to qualify for the program.

For over 40 years, FANO has been committed to making homeownership possible for families in New Orleans. FANO recently updated its mission in response to the need for more environmentally sustainable housing and infostructure in Orleans Parish. For more information about The Finance Authority of New Orleans, please call (504) 524-5533 or visit financeauthority.org.

BAMM Communications is a public relations agency for The Finance Authority of New Orleans. For more information about BAMM, visit www.BAMMComunications.com

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