Lending & Community Investment

What Sets our Loans Apart?

Our loan products and expertise will take you from concept to construction and beyond. In order to qualify for a loan, a minimum of 10% of the project's units must be targeted to supportive housing residents. Our loan products are available as stand-alone or combined with our other loan products. CSH will work with you to pair financing with CSH trainings and technical assistance if needed.

PROJECT INITIATION LOANS (PILS)

These early stage loans are a unique CSH offering. PILs encourage developers to get projects off the ground with flexible terms that may include 0% interest for the first 24 months. PILs are typically up to $50,000 and are sized to move your project through the feasibility stage of the development process.

ACQUISITION LOANS

If you need financing for real estate acquisition in connection with the development of supportive housing, CSH can help. Whether combined with a predevelopment loan or on its own, acquisition loans offer the same great rates and flexibility of all our financial products. Securing project financing can take multiple years and an acquisition loan can help you acquire land and hold it during this financing phase.

PREDEVELOPMENT LOANS

Once you have a project concept and schedule in place, have identified a site and you are ready to start working on the predevelopment, CSH offers funding for these up-front costs. CSH predevelopment loans are priced with a competitive interest rate, and are flexibly structured to meet your project’s financing needs. Unlike many CDFIs, CSH will consider loan amounts of over 100% of collateral value.

MINI-PERMANENT LOANS

For projects that have completed construction, CSH offers amortizing loans typically structured with terms of five to seven years.

BRIDGE LOANS

Sometimes funding sources can be delayed beyond a length of time that a supportive housing provider can sustain on their own. CSH offers loans to bridge delays in funding related to the capital development or services provision for a supportive housing development.

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.

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.

bayareatod.com

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.

goldenstate-fund.com

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.

newgenerationfund.com

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.

nycacquisitionfund.com

CSH uses our New Markets Tax Credit (NMTC) allocations to support the innovative financing of supportive housing. Use of this program also allows CSH to finance non-residential projects like community health facilities, which are either co-located with or linked to supportive housing or populations we serve.

NMTC permits individual and corporate taxpayers to receive a credit against federal income taxes for making equity investments in vehicles known as Community Development Entities (CDEs) which must apply to the U.S. Treasury Department's CDFI Fund to compete for this allocation authority.

CSH is also a partner in the innovative Healthy Futures Fund, debt-equity financing that creates affordable housing with Low Income Housing Tax Credits and supports community health centers with NMTC.

CSH has received 4 NMTC allocations totaling $180M to finance health centers and social service facilities that serve homeless and high-health need clients and supportive housing residents.

“We can leverage even more resources to drive projects leading to new jobs and economic development in some of the most economically distressed neighborhoods in our country,” said CSH President and CEO Deborah De Santis. “Not only are we be able to spur economic revival in places where it’s needed most, the NMTC allocations help fulfill our goals of expanding housing and healthcare services to hundreds who are struggling to improve their lives.”

Contact a Community Investment Officer near you to further discuss a loan for your development.

Community Investment Contact Information

Brigitt Jandreau-Smith
Chief Lending Officer
brigitt.jandreau-smith@csh.org
415-460-0899

Lisa Kern
Director of Loan Closings & Legal Support
lisa.kern@csh.org
646-627-1980

Jennifer Trepinski
Director of Loan Originations
jennifer.trepinski@csh.org
212-986-2966 x290

NEW MARKETS TAX CREDIT (NMTC)

Jill Steen
Director, NMTC Program
jill.steen@csh.org
312-332-6690 x2812

Sarah Vogt
NMTC Loan & Compliance Officer
sarah.vogt@csh.org
312- 332-6690 x2829

EASTERN REGION

Ross Clarke
Community Investment Officer
New Jersey & Pennsylvania 
ross.clarke@csh.org
212-986-2966 x239

John Dunne
Senior Community Investment Officer New England
john.dunne@csh.org
860-560-0744 x2703

Maygen Moore
Senior Community Investment Officer New York City & State
maygen.moore@csh.org
212-986-2966 x225

CENTRAL REGION

John P. Nolan
Senior Community Investment Officer
john.nolan@csh.org
612-721-3700 x112

Kathryn Turner
Community Investment Officer
kathryn.turner@csh.org
713-526-1887

WESTERN REGION

Lindsay Kerby
Community Investment Officer
lindsay.kerby@csh.org
213-623-4342 x21

Tristina Sinopoli
Community Investment Officer
tristina.sinopoli@csh.org
213-623-4342 x23

Andrea Morgan
Senior Community Investment Officer
andrea.morgan@csh.org
720-216-0415

What is a CDFI?

Community development financial institutions (CDFIs) are private financial institutions that are dedicated to delivering responsible, affordable lending to help low-income, low-wealth, and other disadvantaged people and communities join the economic mainstream.

Watch this video produced by Opportunity Finance Network (OFN) to learn more about the work CDFI's are doing across the country.