Meals and Housing to Come Together in S.F.
LIIF joined house Minority Leader Nancy Pelosi, San Francisco Mayor Ed Lee and other dignitaries on January 24 as they broke ground on the new St. Anthony’s Foundation (SAF) dining room in San Francisco’s Tenderloin neighborhood. The new 40,000-square-foot dining room will enable SAF to serve more than 3,000 meals per day and expand its existing free clothing program, fresh food pantry and social work center. The new 10-story building will also be home to 90 units of affordable housing for seniors, built by Mercy Housing California.
House Democratic Leader Nancy Pelosi highlighted the importance of the federal financing programs, including New Markets Tax Credits (NMTCs) and Low Income Housing Tax Credits (LIHTCs), in making the project possible. LIIF provided SAF with a $10.5 million allocation of NMTCs as part of a $22.5 million transaction with Bank of America to build the new dining room.Read the full article at Affordable Housing Finance
- Read more about LIIF’s investment in St. Anthony’s Foundation
- Learn more about LIIF’s New Market Tax Credits
- Learn more about LIIF’s capital for Community Facilities
Source: Affordable Housing Finance