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This program allows public housing authorities to borrow private capital to finance development and modernization of public housing. The funds borrowed can pay f[or new construction or rehabilitation and improvements. Common Improvements include roof replacement, new boilers, accessibility modifications and energy efficiency upgrades. Health and safety issues can also be addressed, such as dealing with lead paint and asbestos removal.<\/p>", "inDefinedTermSet": "https://affordablehousingonline.com/glossary" },

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Operating Fund Financing Program (OFFP)

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This program allows public housing authorities to borrow private capital to finance development and modernization of public housing. The funds borrowed can pay f[or new construction or rehabilitation and improvements. Common Improvements include roof replacement, new boilers, accessibility modifications and energy efficiency upgrades. Health and safety issues can also be addressed, such as dealing with lead paint and asbestos removal.