Rackemann Hosts Financing Forum
Last week, Courtney Branker, Assistant Treasurer at Local Initiatives Support Corporation (LISC), Shawn Luther, Director of Asset Management at LISC and Noni Ramos, VP & Chief Lending Officer at Enterprise Community Loan Fund (Enterprise) were guest speakers at a Real Estate Bar Association (REBA) Affordable Housing Committee lunch hosted by Rackemann, Sawyer & Brewster.
The speakers discussed the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) new $100 million Bond Guarantee Program which responds to the scarcity of 15-to-30-year financing for projects that create jobs and eliminate blight in areas with significant poverty. The CDFI has approved term sheets for $100 million in bonds to a partnership that includes Enterprise, LISC and Bank of America. These bonds, when issued, will be guaranteed by the Treasury and purchased by the Federal Financing Bank under the inaugural round of the Treasury’s CDFI Bond Guarantee Program.
Kurt James, a Director in the firm’s Real Estate Department and Chair of the firms’s Affordable Housing and Community Development Practice Group, and Nancy Blueweiss, Associate General Counsel at Massachusetts Housing Partnership, are Co-Chairs of the REBA Affordable Housing Committee.
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