Today Local Initiatives Support Corporation (LISC) announced it will manage the Catalyst Housing fund in collaboration with Housing Trust Silicon Valley, and other potential partners, in "a critical next step toward deploying the funds and building new housing."

Elliot Schrage, VP Corporate Communications & Public Policy for Facebook writes "LISC plans to leverage Facebook’s initial investment of $18.5 million to as much as $75 million. We plan to begin investing in affordable housing projects by fall 2017, and expect funds to be deployed in the five to eight-year horizon.

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