Traditional affordable housing financing suffers from several problems. First, the Low-Income Housing Tax Credit (LIHTC) program is expensive in part because of the number of actors involved. The IRS gives a pool of tax credits to agencies that select developers who then sell those tax credits to investors through brokers called syndicates. Each takes a cut of the transaction. In addition, building affordable housing requires many layers of financing—not only with LIHTC funds but also government subsidy and private investment, each resulting in additional negotiations and transaction costs. One community development financial institution (CDFI) tool to address some of these challenges is the Low Income Investment Fund’s Impact Note. With impact notes, cost savings happen in two ways: the note reduces the layers of financing needed, allowing CDFIs to raise large amounts of money from local residents using a single instrument, rather than a mix of tax credits, subsidies, and private investments. Furthermore, the CDC saves money on interest, paying no more than 3 percent, compared to the 4-plus percent CDCs pay on traditional debt. , materials are shipped to a site where workers build housing, but this means that weather and traffic can delay construction. In contrast, in off-site construction, building parts are pre-fabricated or built in a production facility in a controlled environment, protected from weather, and optimized by managers. While unions have typically opposed off-site work because it reduces labor time, the Community Housing Partnership was able to win support by focusing on the imperative of housing homeless people.