LIIF Moves Forward with TOD Efforts
LIIF is committed to supporting equitable transit-oriented development (TOD) projects in the communities it serves. Equitable TOD projects ensure affordable housing and community services are incorporated into developments located near public transportation hubs. They connect low income families to jobs, reduce transportation expenses and minimize a household’s carbon footprint.
In January, LIIF and Enterprise Community Loan Fund provided a $5 million loan to Tenderloin Neighborhood Development Corp. for a TOD project in San Francisco that will create over 150 units of housing as well as space for a grocery store. LIIF will support more TOD projects like this as part of the Bay Area Transit-Oriented Affordable Housing Fund. The fund will launch in 2011 and provide financing to affordable housing developers for equitable TOD projects in low income communities in the Bay Area.
LIIF is also working closely with other CDFIs and community partners to bolster public policies that enhance the community capital industry’s ability to catalyze and capitalize equitable TOD projects. Recently, LIIF joined Transportation for America’s Equity Caucus, a coalition of organizations advocating for federal transportation policies that address the needs of low wealth communities.
» Read CDFIs and Transit-Oriented Development, a paper supported by LIIF and produced with the Center for Transit-Oriented Development and the Federal Reserve Bank of San Francisco