NeighborWorks Capital recently closed a $1,224,000 and acquisition with REACH CDC to purchase a 4.4 acre development site in Cornelius, OR. With their co-developer Bienestar Oregon, REACH will build 113 new affordable apartments for low-income families using LIHTC equity, tax-exempt bonds, and a $12.8 million loan from Washington County. When construction is complete REACH will turn over ownership to Bienestar Oregon, a leading nonprofit developer, especially supporting Latinx and immigrants in Washington County and the suburbs west of Portland.
Final FHFA Rule on Racial Equity, Language Access, and Fair Lending Oversight Will Aid Underserved Communities
A coalition of affordable housing and civil rights organizations applaud an announcement from the Federal Housing Finance Agency (FHFA) finalizing a rule on fair housing, fair lending, and equitable housing finance (EHF). The FHFA’s new rule on EHF plans will provide greater market access to underserved communities.