Capital for Affordable Housing

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LIIF offers flexible financing for the development, acquisition, rehabilitation and green retrofit of affordable homeownership and multifamily rental units, including housing for special needs populations. LIIF also supports affordable housing as part of transit-oriented developments and housing that incorporates services for families, such as co-located child care centers. Read below for information about our community capital products for affordable housing.

For more information about all of our efforts to support affordable housing, read about our Affordable Housing Program.

Community Capital Products

Revolving Loan Fund

Through its Revolving Loan Fund (RLF), LIIF provides predevelopment, acquisition, construction and term financing to nonprofit and for-profit affordable housing developers. RLF funds may cover the closing costs and capitalized interest reserve, if necessary.

Loan Terms
Predevelopment: Up to 2 years
Acquisition: Up to 3 years
Construction: Up to 2 years
Mini-Perm: Up to 10 years
Kirsten Shaw, Vice President, Northeast and Mid-Atlantic Region,
LaToya Kyle, Deputy Director, Southeast,
Emma Chávez, Market Director, Western Region,

LIIF, SAHF and NAHT Joint Venture

In late 2020, LIIF, Stewards of Affordable Housing for the Future (SAHF) and National Affordable Housing Trust (NAHT) entered into a joint venture. We aligned this partnership around a shared commitment to housing equity, with a goal to raise $1 billion over the first five years of the partnership to build, protect and preserve approximately 10,000 affordable homes across the country. Through this joint venture with NAHT, LIIF will not only be equipped to provide equity for projects and developers, but also development consulting services and expertise that will allow existing clients to expand their capacity. For investors of both LIIF and NAHT, the array of impact lending and equity options will allow them to grow their impact—delivering a measurable social impact in addition to a financial impact. More information for developers and investors is available on the NAHT website

Lori Little, NAHT President & CEO,

Golden State Acquisition Fund

The $93 million Golden State Acquisition Fund provides acquisition financing to experienced nonprofit and for-profit developers and public agencies for the development or preservation of affordable housing in California. The fund was established with an initial investment from the California Department of Housing. LIIF, serving as the Administrative Agent for the fund, is working with a consortium of seven CDFIs to provide reliable, flexible funding to help meet the housing needs of low income communities statewide.

Emma Chávez, Market Director, Western Region,

Bay Area Multifamily Fund

The Energy Upgrade California Bay Area Multifamily Fund (BAM Fund) provides up-front capital and technical assistance to help multifamily affordable housing owners retrofit their properties.
More information about the BAM Fund

Los Angeles County Housing Innovation Fund

The Los Angeles County Housing Innovation Fund (LACHIF) is a $60 million public-private partnership that provides low-cost predevelopment and acquisition financing to increase the availability of affordable and supportive housing in Los Angeles County.

Emma Chávez, Market Director, Western Region,

New Generation Fund

The New Generation Fund LLC provides acquisition and predevelopment loans for the creation and preservation of affordable housing in the City of Los Angeles.
More information about the New Generation Fund LLC

NYC Acquisition Fund

The New York City Acquisition Fund LLC offers acquisition and predevelopment loans to developers committed to the creation and preservation of affordable housing in the five boroughs of New York City.
More information about the New York City Acquisition Fund

NYCRS Multifamily Housing Loans

In partnership with the New York City Retirement Systems (NYCRS), LIIF provides financing for new construction or rehabilitation of multifamily properties incorporating affordable housing in New York. The program is run by the Economically Targeted Investments Division of the Office of the NYC Comptroller. NYCRS loans must comply with the State of New York Mortgage Agency terms.