National Funds
LIIF showcases vast experience in structuring, implementing and managing affordable housing funds. We are a trusted public, private and nonprofit partner and steward of on- and off-balance sheet funds.
Since our founding in 1984, we have administered more than $1 billion in national funds
We take an integrated, holistic approach. LIIF layers programs to meet community and funder goals.
Our national and regionally focused funds are designed to be responsive to current market conditions and borrower needs. We intentionally combine loan products, capacity-building grants and technical assistance to help funders and communities meet their development goals by offering more favorable terms.
Our process:
- Market scan
- Identify gaps in funding
- Fund design and capital raise
- Implementation and deployment
- Evaluation and iteration
Golden State Acquisition Fund (GSAF)
LIIF is the administrative agent, fund manager and an originator of a collaborative of eight CDFIs in partnership with California Department of Housing and Community Development for the acquisition of affordable housing sites, both preservation and new construction.
Size: $292 million
Region: California
Years active: 2013-present
Partners/CDFI Originators:
- Low Income Investment Fund (fund manager and originator)
- Century Housing
- Community Vision
- Corporation for Supportive Housing (CSH)
- Enterprise Community Partners
- Housing Trust Silicon Valley
- Local Initiatives Support Corporation (LISC)
- Rural Community Assistance Corporation (RCAC)
Keeping Homes Affordable (KHA)
LIIF manages a structured product with Calvert Impact Capital and Arnold Ventures. The program provides acquisition financing for the acquisition and preservation of affordable multifamily projects nationwide.
Size: $50 million
Region: National
Years active: 2022-present
Partners/CDFI Originators:
- Arnold Ventures
- Calvert Impact Capital
We Lift: The Coachella Valley’s Housing Catalyst Fund
Partnering with Lift to Rise, LIIF serves as fund manager for We Lift: The Coachella Valley’s Housing Catalyst Fund. This fund supports a community-driven housing financial model that seeks to address the crucial shortage of affordable housing in Southern California’s Coachella Valley. The program aims to create 10,000 affordable units by 2028. An additional priority is to incentivize the co-location of early care and education (ECE) as much as possible. Action plans were created by the Housing and Economic Mobility Collaborative Action Networks (CANs), with these plans containing the results, priority factors and strategies that guide the work.
Size: $50 million
Region: Coachella Valley, Calif.
Years active: 2021-present
Additional partners:
- County of Riverside
- Rural Community Assistance Corporation (RCAC)
- 70 community partners
Photo: Lift to Rise and LIIF celebrate a $15 million state contribution to We Lift: the Coachella Valley’s Housing Catalyst Fund to support the work of both organizations to build more affordable housing.
Credit: Noé Montes for Lift to Rise
Bay Area Transit Oriented Affordable Housing (TOAH) (2011-present)
LIIF is the fund manager of TOAH, in partnership with the Metropolitan Transportation Commission, and along with four other originating partners. TOAH provides predevelopment and acquisition financing for transit-oriented affordable housing or facilities.
Size: $40 million
Region: San Francisco Bay Area
Years active: 2011-present
Partners/CDFI Originators:
- Community Vision
- Corporation for Supportive Housing
- Enterprise Community Partners
- Local Initiatives Support Corporation (LISC)
- San Francisco Foundation
Early Care and Education Infrastructure Grant Program (IGP)
LIIF is the fund manager for IGP, a $350 million small-dollar grant program that funds upgrades and expansions to Early Care and Education (ECE) facilities across California, including family child care providers who operate out of their homes.
Size: $350 million
Region: California
Years active: 2022-present
Partner:
- California Department of Social Services (CDSS)
Bay Area Preservation Pilot (BAPP)
In partnership with MTC, LIIF co-manages BAPP with Enterprise Community Partners. BAPP provides acquisition to mini-perm financing to fund the preservation of occupied affordable housing near public transit in the nine-county San Francisco Bay Area.
Size: $20 million
Region: San Francisco Bay Area
Years active: 2018-present
Partner/CDFI Originator:
- Enterprise Community Partners
DC Preservation Fund
LIIF is a fund manager of the DC Preservation Fund. The fund provides short-term bridge, acquisition and pre-development financing for eligible borrowers to purchase and rehabilitate occupied buildings with more than five units in Washington, D.C.
Size: $29 million
Region: Washington, D.C.
Years active: 2020-present
Partner:
- DC Department of Housing and Community Development
Black Developer Capital Initiative (BDCI)
The Black Developer Capital Initiative (BDCI) was launched by LIIF and the National Affordable Housing Trust (NAHT) to support the growth of Black-led affordable housing developers. Despite strong track records, many Black developers have been systemically denied access to capital that would enable them to build more homes and grow their businesses. The more than $135 million initiative originated through conversations with experienced Black affordable housing developers who called out the common emphasis on personal wealth and liquidity over experience and skillset during the underwriting process led by lenders and investors. The BDCI comprises two products: the Line of Credit offered through LIIF, which provides early-stage project financing at a favorable interest rate, and the Low-Income Housing Tax Credit (LIHTC) Equity Fund offered through NAHT, which addresses variability in pricing and terms for LIHTC deals due to perceived risks of smaller or less resourced developers.
Size: $115 million
Region: National
Years active: 2021-present
With investment from:
- Arnold Ventures
- Bank of America
- Capital One
- Goldman Sachs
- MacKenzie Scott
- Wells Fargo
Brighter Futures Fund
The Brighter Futures Fund (BFF) is a special-purpose credit program (SPCP) created as part of Goldman Sachs Bank’s One Million Black Women initiative. The BFF provides financing for early care and education facilities for programs led by Black women and serving Black families. Facilities co-located with affordable housing are prioritized.
Size: $20 million
Region: National
Years active: 2022-present
Partner:
- Goldman Sachs Urban Investment Group
Metro Affordable Transit Connected Housing Program (MATCH)
Low Income Investment Fund joined as a partner in the MATCH program to advance our efforts to build equitable, healthy, resilient communities. MATCH provides critical funding to preserve and expand affordable housing located near Los Angeles County public transit. Through the MATCH program, nonprofit and for-profit developers can access acquisition and predevelopment financing for rental housing opportunities at favorable terms.
Size: $75 million
Region: Los Angeles
Years active: 2017-2023
Partners/CDFI Originators:
- California Community Foundation
- Enterprise Community Partners
- Local Initiatives Support Corporation (LISC)
- Los Angeles County Metropolitan Transportation Authority
- The California Endowment
- Weingart Foundation
Read stories celebrating the impact of our funds
