MTC Pledges $10 Million for New Fund to Preserve Affordable Housing

mtc – excerpt

The Metropolitan Transportation Commission (MTC) today committed $10 million to establish a new revolving loan fund known as the Bay Area Preservation Pilot Fund to help nonprofit developers finance the acquisition and preservation of existing multifamily housing properties that are located in areas with high-frequency transit service and are considered affordable for lower- and moderate-income renters. The Commission’s stake will be supplemented by an additional $39 million from Preservation Pilot managers Enterprise Community Loan Fund (ECLF) and Low Income Investment Fund (LIIF) to make a total of $49 million available for new loans…

Wednesday, February 28, 2018 Contact: John Goodwin, (415) 778-5262… (more)

Who is not involved in real estate? How does financing housing relate to the mission of the Metropolitan Transportation Commission? Please comment at the source if you can.

 


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