Provider: Los Angeles Housing Department

Categories: Business Assistance: Construction Project Development Assistance

Description
The New Generation Fund LLC is the result of collaboration between the City of Los Angeles, major foundations, and Los Angeles' public and private community investment groups. Through this partnership, the Fund provides capital to cover acquisition and pre-development costs to developers for the creation and preservation of affordable rental or homeownership housing in Los Angeles. Based on soft commitments from public agencies to provide subsidies and financing in the future, the Fund makes loans to developers of affordable housing to bridge the period between acquisition and construction closing. The Los Angeles Housing Department's Affordable Housing Trust Fund performs City underwriting and background checks on all applicants. Please contact one of the Fund's Underwriting Lenders (see Service Detail listings) for additional information.

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