The funding will provide long-term fixed-rate capital for large-scale construction.
The Treasure Department announced $498 million in fixed-rate capital for housing in low-income urban, rural, and Native communities, offering long-term financing through the Community Development Financial Institutions Fund. This program supports a number of community construction projects, including rental housing, homes for purchase, urgent care centers, small businesses, and other organizations.
“Community Development Financial Institutions play an essential role to help businesses and organizations get off the ground and expand all over the country,” said Treasury Secretary Janet Yellen. “Today’s historic announcement will increase their access to capital to help realize projects that expand housing supply, grow small businesses, and ensure access to health care and child care.”
As the Lord Leads, Pray with Us…
- For Treasury Secretary Yellen as she oversees the allotment of funding for low-income housing.
- For Treasury Department officials as they collaborate on community construction on homes, care center, and small businesses.
Sources: Department of the Treasury
