News Archives
2019
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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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LIIF Chosen to Join Early Childhood Action Research Team
LIIF has been selected to join California’s Early Childhood Action Research team, a group of experts tasked with developing a master plan to expand early care and education within the state. The team will advance the work of Governor Newsom’s administration to expand and improve care and education from birth to age five. The research […]…
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LIIF Announces New Board Chair and Three New Directors
The Low Income Investment Fund is pleased to announce the election of Carol Redmond Naughton as chair of the LIIF Board of Directors and the expansion of the Board with three new directors: Margaret Chinwe Anadu, Head of Urban Investment Group, Merchant Banking Division at Goldman Sachs; Erika C. Poethig, Chief Innovation Officer and Vice […]…
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LIIF provides $6.8 Million to Two Housing Projects for Vulnerable Populations in California
Affordable Housing for Low-income Families and Special Needs Individuals LIIF recently provided a $4.1 million acquisition loan and $750,000 predevelopment loan to Affirmed Housing Group for the acquisition of land to build Barry Apartments, a 61-unit complex in West Los Angeles. The project will serve both low-income families and individuals with disabilities. The project will […]…
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Former Police Station to Become Learning Center for Low-Income Kids
LIIF recently provided more than $2 million in grants to Mission Neighborhood Centers for the redevelopment of a building into a full-day, year-round early care and education center for 56 children and an academic and life skills program called Mission Girls. The center, located near Bay Area Rapid Transit, hopes to grow to serve 600 […]…
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LIIF Provides Healthy Food Financing Loans in Maryland & Harlem Food Deserts
LIIF recently invested $1.5 million in Healthy Food Financing Initiative (HFFI) dollars to two high-need Food Deserts in Maryland and New York. These investments will help bring fresh produce and whole foods to neighborhoods with higher-than-average rates of poverty and poor health outcomes like diabetes, hypertension and obesity. Funding was made possible by an award […]…
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Low Income Investment Fund Completes Inaugural Debt Issuance at 10x Oversubscribed
The Low Income Investment Fund (LIIF) has issued its first public debt offering with a $100 million Sustainability Bond issuance. The Community Development Financial Institution (CDFI) offering was ten times oversubscribed. LIIF is a community development financial institution that is focused on community building initiatives including providing financing for low-income housing and other projects that […]…
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