California Acquisition Fund Launches

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The launch of the Golden State Acquisition Fund (GSAF), recently featured in Affordable Housing Finance, aims to provide flexible acquisition financing to experienced nonprofit and for-profit developers and public agencies for the development or preservation of affordable housing throughout California. The Low Income Investment Fund (LIIF), along with six partner CDFIs, recently debuted the new $93 million GSAF program to support the expansion and preservation of affordable housing for low-income residents statewide. The fund was seeded with an initial investment from the California Department of Housing and Community Development and is administered by LIIF.

Brian Prater, Senior Vice President, Strategic Development and Corporate Affairs at LIIF, notes that “Affordable housing developers are operating in a competitive, challenging market and have extremely limited access to public funds. The GSAF program was created to help developers compete in today’s environment to increase and preserve affordable housing for California’s families.”

Read the full article at Affordable Housing Finance

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Source: Affordable Housing Finance