Local Loan Funds
In addition to accessing its own Solutions Fund to make loans, CSH has access to capital through several locally-based funds across the country. Below are brief descriptions of these funds. The application process for all loans made through CSH is identical. Please contact a member of our Community Investment team if you’re interested in a loan.
BAY AREA TRANSIT-ORIENTED AFFORDABLE HOUSING FUND
The $50 million Bay Area Transit-Oriented Affordable Housing (TOAH) Fund provides financing for the development of affordable housing and other vital community services near transit lines throughout the San Francisco Bay Area. Through the Fund, developers can access flexible, affordable capital to purchase or improve available property near transit lines for the development of affordable housing, retail space and other critical services, such as child care centers, fresh food outlets and health clinics.
The TOAH Fund was made possible through a $10 million investment from the Metropolitan Transportation Commission. CSH is one of five leading community development financial institutions participating in the fund, which includes Enterprise Community Loan Fund, LISC, Northern California Community Loan Fund, and The Low Income Investment Fund who serves as the Fund Manager. Additional capital for the Fund was provided by Citi Community Capital, Morgan Stanley, the Ford Foundation, Living Cities, and the San Francisco Foundation.
LOS ANGELES COUNTY HOUSING INNOVATION FUND
The Los Angeles County Housing Innovation Fund (LACHIF) fund provides secured predevelopment and site acquisition loans for projects that meet fund requirements.. Funds may be used for site acquisition, project feasibility, market studies, escrow and title fees, professional consultants, architecture and loan fees.
GOLDEN STATE ACQUISITION FUND
The Golden State Acquisition Fund (GSAF) is a $93 million flexible, low-cost financing program aimed at supporting the creation and preservation of affordable housing throughout the State of California. Financing is available for rental housing and homeownership opportunities in urban and rural communities.
GSAF was established with $23 million in seed funding from the California Department of Housing and Community Development. These funds are leveraged with additional capital from the seven community development financial institutions that serve as originating lenders.
LOS ANGELES SUPPORTIVE HOUSING LOAN FUND
This fund provides acquisition and predevelopment funding for projects that meet the requirements of the City of Los Angeles Permanent Supportive Housing Program.
NEW GENERATION FUND
CSH is an originator and underwriter for this fund in the City of Los Angeles for acquisition and predevelopment.
The New Generation Fund offers flexible acquisition and predevelopment financing for developers committed to the creation and preservation of affordable housing in the City of Los Angeles.
Made possible through a partnership between the Housing and Community Investment Department of Los Angeles, local foundations and public and private investment groups in the City of Los Angeles, the Fund is capitalized with $52 million of lendable proceeds and provides loans at the following general terms.
NEW YORK CITY ACQUISITION FUND
CSH is an originator in the New York City Acquisition Fund. The Fund offers acquisition and predevelopment loans to developers committed to the creation and preservation of affordable housing in the five boroughs of New York City. CSH only originates loans through the fund for housing developments with some portion of supportive housing.
The New York City Acquisition Fund is made possible through an unprecedented partnership between the City of New York, major foundations and New York’s public and private investment groups.