2. Build for the future.

Public housing should be built to last, regardless of ongoing funding. So you want to do more than update amenities. Consider future advancements, such as:

• Larger mail rooms for e-commerce deliveries
• Laundry machines that accept credit cards and mobile payments
• Wi-Fi access

3. Work with a bank that thinks outside the box.

Your banking team can do more than outline HTC certification for you; it can also help you determine the best financing options for your project. For example, if your project includes a daycare center, clinic or other community facility, it may qualify for New Markets Tax Credit equity. Likewise, you may be able to finance your project through Low Income Housing Tax Credit, agency lending, and bridge and permanent lending. Your banking team can also connect you with tax advisors, consultants and other experts.

4. Balance HTC requirements with energy efficiency.

It’s possible to improve your energy efficiency and preserve historic elements. HTC financing frequently requires that you preserve buildings’ facades, windows and interior entryways and lobbies. As a result, you can’t add updates such as energy-efficient windows or exterior cladding, which change a building’s exterior. You can, however, make updates that don’t affect historic elements, such as upgrading interior building systems and installing LED light bulbs and energy-efficient appliances.

5. Allow time to make accessibility updates.

A lot of public housing was built before the Americans with Disabilities Act (ADA) passed in 1990, and properties may need renovations to be ADA compliant. These renovations take precedence over HTC requirements. For example, if your project requires that you build accessibility ramps or add signs in Braille, you’ll need to make those updates, even though they alter the building’s historic character. Be sure to factor in time and money to make necessary changes.