South­ern Cal­i­for­nia As­so­ci­a­tion of Non­profit Hous­ing hon­ors US Bank

The Pak Banker - - Front Page -

LOS ANGELES

U.S. Bank re­ceived the Fi­nan­cial Sup­porter of the Year award at the South­ern Cal­i­for­nia As­so­ci­a­tion of Non­Profit Hous­ing (SCANPH) con­fer­ence in Los Angeles in Oc­to­ber. The event is the one of the largest af­ford­able hous­ing con­fer­ences in the coun­try.

US Bank was hon­ored for its sup­port of or­ga­ni­za­tions that en­cour­age the pur­chase, preser­va­tion, re­ha­bil­i­ta­tion, and con­struc­tion of af­ford­able hous­ing through di­rect lend­ing, tax credit in­vest­ments, part­ner­ship with in­vest­ment lend­ing pro­grams, grants or vol­un­teer sup­port of af­ford­able hous­ing non­prof­its in South­ern Cal­i­for­nia, and par­tic­u­larly for its work in Los Angeles. US Ban­corp Community De­vel­op­ment Cor­po­ra­tion (USBCDC) in­vests in ef­forts, in­clud­ing the cre­ation of qual­ity af­ford­able hous­ing, as a means to im­prove and re­vi­tal­ize com­mu­ni­ties. Since 2001, the USBCDC has in­vested more than $275 mil­lion in af­ford­able hous­ing in South­ern Cal­i­for­nia. Ad­di­tion­ally, U.S. Bank Community Lend­ing has com­mit­ted an ad­di­tional $1 bil­lion in fi­nanc­ing of multi-fam­ily hous­ing.

As a par­tic­i­pant in the Fed­eral Home Loan Bank Community In­vest­ment Lend­ing Pro­gram, U.S. Bank pro­vides af­ford­able hous­ing pro­gram grants for qual­i­fied projects, con­tribut­ing to the cre­ation of nearly 3,000 af­ford­able hous­ing units in South­ern Cal­i­for­nia alone. US Bank serves as one of the pri­mary trus­tees for the City of Los Angeles, mon­i­tor­ing more than $500 mil­lion of the city’s af­ford­able hous­ing, community and eco­nomic de­vel­op­ment bond fa­cil­i­ties. US Bank has ex­tended more than $145 mil­lion in low-in­ter­est community de­vel­op­ment loans in Los Angeles County since the be­gin­ning of 2011.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.