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Low Income Investment Fund
100 Pine Street, Suite 1800San Francisco CA, 94111-5102
CDFI Awards for Low Income Investment Fund
NMTC (2009) - $45,000,000
Low Income Investment Fund (LIIF) focuses on community development efforts that target projects such as charter schools, childcare facilities, and community facilities. LIIF intends to provide acquisition/construction financing, as well as mini-permanent loans to its borrowers, at significantly below-market interest rates. With its NMTC Allocation, LIIF will be able to finance larger and more difficult projects, thereby creating attractive facilities and residential projects as well as a critical mass of development activity that will attract other investment and projects in deeply distressed communities.
FA (2009) - $2,000,000
Low Income Investment Fund is a nonprofit loan fund that has been in operation since 1984. It serves low-income communities in San Francisco, Los Angeles, and New York City. The Low Income Investment Fund will use its Financial Assistance award to provide pre-development, acquisition and construction lending to a variety of projects, including affordable housing, charter schools and child care facilities.
NMTC (2008) - $50,000,000
Low Income Investment Fund (LIIF) is a certified CDFI providing capital to charter schools, child care facilities, and affordable homeownership projects nationwide. LIIF will utilize its NMTC allocation to offer acquisition loans, construction loans, and mini-permanent loans to these facilities projects. LIIF will provide low-interest, flexible loans, including early stage project financing. The NMTC allocation will allow LIIF to 1) significantly increase its volume of flexible lending; 2) enhance the flexibility of its lending; 3) increase its targeting to areas of greater distress; and 4) finance larger and more difficult projects.
FA (2008) - $1,000,000
The Low Income Investment Fund (LIIF) is a certified CDFI and was established in 1984. LIIF provides loans and development services to organizations, primarily nonprofits, geared towards developing: affordable housing, and facilities for child care, education, and other community-based activities, that serve Low Income Targeted Populations (LITP) in California and the New York Metropolitan Area. LIIF will use the 2008 Financial Assistance (FA) award of $1,000,000 to augment its lending capital.
NMTC (2007) - $44,000,000
The Low Income Investment Fund (LIIF) will use its NMTC allocation to make loans to community-based borrowers developing three types of projects: charter schools, child care facilities, and affordable homeownership. LIIF will offer acquisition loans, construction loans, and mini-permanent loans in support of these projects. With its NMTC allocation, LIIF will be able to offer below market rates of interest and origination fees, longer than standard interest only periods, higher loan to value ratios, lower debt service coverage ratios, longer amortization periods and more flexible credit standards. LIIF will also be able to increase the targeting of its projects to communities with greater distress.
FA (2007) - $860,000
Founded in 1984, Low Income Investment Fund (LIIF) is a certified, non-profit CDFI. It offers a range of loan products, including pre-development, acquisition, construction, mini-permanent, permanent and interim or bridge loans. LIIF also serves its borrowers with non-project financing needs such as lines of credit, working capital loans, and loans against fundraising or future social service contract proceeds. Eligible borrowers are non-profit organizations, limited partners and single-asset entities controlled by nonprofit organizations that primarily serve low and very low income communities. Ninety percent of LIIF’s activity is in the New York City metropolitan area, Northern California, and Southern California. It will use its FY07 Financial Assistance to build its direct lending capacity, leveraging and deploying millions of dollars to serve thousands of people in low-income communities.
FA (2006) - $585,000
The Low Income Investment Fund (LIIF) is a certified CDFI established in 1985. LIIF’s strategies encompass lending and financial products for affordable housing, child care and educational facilities, and its efforts focus on three core market regions -- Northern California, Southern California, and the New York metro area. LIIF provides a range of loan products, including: predevelopment, acquisition, construction, mini-permanent, permanent and interim or bridge loans. LIIF also serves its borrowers with non-project financing needs including operating lines of credit, working capital loans, and loans against fundraising or future social service contract proceeds. The 2006 Financial Assistance award of $585,000 will enable LIIF to increase its lending by up to $2.5 million over the next three years.
FA (2003) - $1,320,000
The Fund"s $1,320,000 award will be used to fund a loan loss reserve for lending in Hot Zones. The award will allow LIIF to launch two new loan products targeted to Hot Zones, one focused on affordable housing and community development facilities, the second focused on homeownership. LIIF estimates that its lending over the next three years will produce 6,954 affordable housing units (3,149 in Hot Zones) and 4,240 spaces in child-care and educational facilities (1,545 in Hot Zones).
CORE (2001) - $1,950,000
The CDFI Fund award of $1,950,000 will allow LIHF to increase its loan portfolio and offer new products, most notably a predevelopment loan product.
CORE (2000) - $1,000,000
The CDFI Fund"s $1,000,000 capital grant will help support LIHF"s programs overall, and will help the organization carry out its comprehensive business plan proposal to further develop and expand its childcare support program. LIHF has already expanded this San Francisco-based program to the City of Oakland, and intends to pursue expansion to other cities.
SECA (1999) - $50,000
The technical assistance grant will be used for a system-wide information technology upgrade.
CORE (1998) - $2,000,000
The Fund"s $2 million grant will help LIHF address these and other community facility needs in cities across the nation.
CORE (1997) - $165,000
A CDFl Fund technical assistance grant of $165,000 will be used to devise new strategies to increase the capitalization of LIHF"s Revolving Loan Fund, and to build staff expertise in non-resident lending.
CORE (1996) - $2,500,000
With $2.5 million in financial support from the CDFI Fund, LIHF will substantially increase its capacity to respond to demand for special needs housing financing and to continue to broaden its geographic reach.
Other Community Development Financial Institutions in California
ACCION San Diego
San Diego
Banco BuenaVentura
Oxnard
Bethany Square, LLC
Santa Monica
BEYOND THE BOTTOM LINE, LLC
San Fernando
Big Pine Paiute Tribe
Big Pine
Chevron NMTC Fund, LLC
San Franscisco
Clearinghouse CDFI, The
Lake Forest
Comunidades Federal Credit Union
Los Angeles
CT/KDF Community Development Partners, LLC
Newport Beach
El Futuro Credit Union
Porterville
Episcopal Community Federal Credit Union
Los Angeles
Faith Based Federal Credit Union
Oceanside
Genesis LA CDE, LLC
Los Angeles
Housing Trust Fund of Santa Barbara County
Santa Barbara
Impact Community Capital CDE, LLC
San Francisco
Karuk Community Loan Fund, Inc.
Happy Camp
KHC New Markets CDE, LLC
Carlsbad
LA Charter School New Markets CDE
Los Angeles
Los Angeles Development Fund
Los Angeles
Los Angeles LDC, Inc.
Los Angeles
Low Income Investment Fund
San Francisco
Lowe Economic Development Company, LLC
Los Angeles
Mission Area Federal Credit Union
San Francisco
Mission Community Bancorp
San Luis Obispo
Mission Community Bank, N.A.
San Luis Obispo
National New Markets Fund, LLC
Los Angeles
Neighborhood Bancorp
National City
New Markets Community Capital, LLC
Los Angeles
NHS Neighborhood Lending Services
Los Angeles
Northeast Community Federal Credit Union
San Francisco
Northern California Community Loan Fund
San Francisco
OneCalifornia Bancorp, Inc.
San Francisco
Opening Doors, Inc.
Sacramento
Pacific Community Ventures Investment Partners II, LLC
San Francisico
Pacific Community Ventures, Inc.
San Francisco
Pacoima Development Federal Credit Union
Lake View Terrace
Pasadena Development Corporation
Pasadena
Revolution Community Ventures, LLC
San Diego
Rural Community Assistance Corporation
West Sacramento
TELACU Community Capital
Los Angeles
Women"s Economic Ventures of Santa Barbara
Santa Barbara
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