News Archives
2020
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$15 Million Equitable Transit-Oriented Development Fund Launches in Atlanta
The city of Atlanta is making strides to expand housing in opportunity-rich neighborhoods and connect residents to community assets. In 2019, Mayor Keisha Lance Bottoms announced a plan to invest $1 billion in affordable housing to address the city’s critical need of 24,000 units. In response, LIIF and Enterprise Community Loan Fund have joined Invest […]…
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LIIF Funds Workforce Housing in New Orleans
LIIF recently provided a $5 million loan to Greencoast Enterprises and Iris Development (a local minority business enterprise) for the construction of Bourgoune Bywater, a new workforce housing and commercial development in New Orleans. Bourgoune Bywater will include 70 units, with 10% of the units reserved for low-income residents and the majority accessible for middle […]…
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DHCD Financing Preserves and Produces Affordable Housing Units in Wards 5 and 8
The Washington, DC Department of Housing and Community Development has closed a $15.1 million loan from the Housing Production Trust Fund that will preserve 123 affordable housing units and produce new affordable housing units in Wards 5 and 8. LIIF acquisition financing helped TM Associates purchase the Hanover Court Apartments, where eight new affordable units […]…
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CEOs of Four National CDFI Loan Funds Comment on CRA Rulemaking
Oversimplified CRA metrics would damage local responsiveness and lessen social impact Joint statement by LIIF CEO Daniel A. Nissenbaum, Capital Impact Partners President and CEO Ellis Carr, IFF CEO Joe Neri and Reinvestment Fund President and CEO Don Hinkle-Brown We are deeply concerned by Comptroller Joseph Otting’s proposed changes to the Community Reinvestment Act (CRA), the […]…
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LIIF receives $3 million award from the District of Columbia Preservation Fund
LIIF is pleased to announce that we have been awarded $3 million from the District of Columbia Preservation Fund. The Fund provides quick access to short-term bridge, acquisition and pre-development financing for eligible borrowers to purchase and rehabilitate occupied building with more than five units. At least 50 percent of units must be currently affordable […]…
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Investing in the Future by Preserving Federal Tax Credit Programs
New Markets Tax Credits (NMTC) help nonprofits get access to financing that’s more flexible and affordable than they could get from traditional lenders. In Atlanta’s East Lake neighborhood and in communities around the country, NMTCs and other federal tax credit programs have helped to create opportunity for all residents. Learn more about the impact of […]…
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Statement from the Low Income Investment Fund on Proposed Rule Changes to the Community Reinvestment Act
On December 12, 2019 the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released a joint notice of proposed rulemaking on changes to the Community Reinvestment Act (CRA). There will be a 60-day comment period beginning when the rule is posted in the Federal Register. In response to […]…
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LIIF Invests to Turn Vacant Land into Nearly 400 Affordable Housing Units in Bay Area
LIIF recently closed a $5.95 million acquisition and predevelopment loan to AMCAL affordable housing developers for the Antioch Apartments in Northern California’s East Bay. LIIF’s loan refinanced AMCAL’s purchase of 14 acres of vacant land in Antioch, CA, to develop a 394-unit affordable housing project dedicated to families and seniors earning 50-60% of Area Median Income. This […]…
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LIIF Awarded $2 Million in Financial Assistance Awards from the CDFI Fund
LIIF is pleased to announce that we were awarded $2.001 million from the U.S. Department of the Treasury’s CDFI Fund in the recent 2019 award round. This award remains a critical source of capital for LIIF, and we are thrilled that the CDFI Fund continues to recognize LIIF’s important and impactful work. In addition to […]…
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$100 Million Initiative to Preserve Affordable Communities Additional Capital Available to Help Stabilize Low Income Families and Neighborhoods
The Low Income Investment Fund (LIIF), National Affordable Housing Trust (NAHT), Calvert Impact Capital and Mercy Loan Fund (MLF) have partnered to provide capital for the second phase of the $100 million Fund to Preserve Affordable Communities (FPAC) aimed at protecting affordable housing for low income families across the nation. The partnership will make funds […]…
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