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CCRC


CCRC
The California Community Reinvestment Corporation (CCRC) California's premier multifamily affordable housing lender responding to California's ongoing statewide affordable housing crisis. With capital provided by most of the major retail banks operating in California as well as a key insurance company, CCRC delivers the products, services and technical assistance that makes the organization the lender-of-choice of California's affordable housing development community. Since its founding in 1989, CCRC has approved more than $2 billion in loans and tax exempt bonds for affordable housing, creating 47,000 homes for people earning 80% or less of the area median income. Providing this access to capital to developers of affordable housing allows individuals to live, work and raise their families in communities throughout California, creating a more economically diverse and stable statewide economy. Throughout California, CCRC has worked with for-profit and nonprofit developers to increase the supply of affordable housing. CCRC provides permanent debt for acquisition and rehabilitation for existing housing stock and forward commitment loans and tax-exempt bonds for planned new construction. CCRC also provides scholarships for residents in its financed properties for higher educational and vocational advancement. Recognized as a leader in the state in these programs, CCRC has an experienced and skilled team to meet the needs of its investor banks, developers, and those communities it serves.