National Equity Fund partnered with Silicon Valley Bank to commit $110,000,000 for affordable housing in Los Angeles and the Bay Area. Leveraging an innovative and deliberate use of Opportunity Zone incentives, the Silicon Valley Bank proprietary fund is committed to place all $110 million in Low-Income Housing Tax Credit deals before the end of 2021, despite having just funded earlier this month.
“Silicon Valley Bank’s sizable investment will result in the production of affordable housing that is truly consistent with the original stated intent of the Opportunity Zone legislation – to address racial inequity and invest in the communities where it’s needed most,” said Matt Reilein, President and CEO of National Equity Fund.
Read the press release.
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