Bay Area Transportation Commission Creates Affordable Housing Fund
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Oakland, Calif.–The Metropolitan Transportation Commission, the Oakland-based transportation planning and funding agency for the nine-county San Francisco Bay Area, has just established a new $50 million revolving loan fund for affordable housing developers. The Bay Area Transit Oriented Affordable Housing Fund, part of MTC’s Transportation for Livable Communities program, is designed to assist developers with the financing of land acquisitions for transit-oriented projects. An affordable housing complex in San Francisco by the Tenderloin Neighborhood Development Corp. (TNDC) will be one of the first projects to benefit from the new fund.
Source: Multi-Housing News