Members may use Community Development advances to provide financing for initiatives that involve a combination of economic development and affordable housing.

What Constitutes a Mixed-Use Initiative?
Members may use Community Development advances to provide financing for mixed-use initiatives, which have both a housing and an economic-development component.

Economic-development components may be:

• Commercial initiatives, such as shopping centers, office buildings, and retail stores;
  
  
• Industrial and manufacturing initiatives, such as factories, bakeries, warehouses, and assembly plants;
  
  
• Public-facility initiatives, such as buildings and vehicles for police and fire departments;
  
  
• Social-service initiatives, such as office space for nonprofits, program facilities, and day-care centers; or
  
  
• Infrastructure projects, such as roads, sidewalks, utilities, and sewers.

Eligibility Criteria for Mixed-Use Initiatives
To qualify for a Community Development advance, a mixed-use initiative must meet at least one of the eligibility criteria listed below. (There are no eligibility requirements for the housing portion of a mixed-use initiative.)

• The initiative creates or retains jobs for income-eligible workers^.
  
  
• The initiative qualifies as a small business.
  
  
• The initiative benefits income-eligible families.
  
  
• The initiative is located in:
  
  
  • an income-eligible neighborhood,
    
    
  • a Champion Community,
    
    
  • an Empowerment Zone,
    
    
  • an Enterprise Community,
    
    
  • a brownfield,
    
    
  • an Indian area,
    
    
  • an area affected by the closing of a military base,
    
    
  • a federally declared disaster area, or
    
    
  • a state-declared disaster area.

Eligible Financing Activities
Members may use Community Development advances to:

• Originate eligible loans;
  
  
• Fund eligible loans that were originated up to three months before receiving the Community Development advance;
  
  
• Refinance eligible initiatives;
  
  
• Make loans to entities that, in turn, make loans for eligible initiatives that combine housing and economic development; or
  
  
• Purchase a participation interest, or provide financing to participate, in a loan consortium for eligible initiatives that combine housing and economic development.