Los Angeles (September 18, 2017): "A new $75 million loan program offering low costs loans for affordable housing became available today as part of a public-private lending partnership. The Metro Affordable Transit Connection Housing (MATCH) program is an innovative partnership that will provide financing to developers to preserve and expand affordable homes located near high quality transit in Los Angeles County.
The Los Angeles County Metropolitan Transportation Authority (Metro) is providing a $9 million seed investment for the fund, which has been matched by local foundations, including the California Community Foundation, The California Endowment and the Weingart Foundation.
The Enterprise Community Loan Fund (ECLF), the Local Initiatives Support Corporation and the Low Income Investment Fund (LIIF) are three national Community Development Financial Institutions (CDFIs) providing leverage financing and will originate loans from the program. The MATCH program will be managed by a consortium of these three CDFIs."
Read the full press release here.