TCAP Funds Are Used to Complete Acquisition, Rehab Project in Oakland

摘要

Affordable Housing Associates (AHA), a northern California nonprofit, used low-income housing tax credit assistance program (TCAP) funds to complete the acquisition and rehabilitation of 401 Fairmount, a 31-unit mid-rise in Oakland, after bond financing fell through in the collapse of the capital markets in 2008. "When we purchased this property in 2007, we had no idea the financial meltdown was just around the corner and would put this project and others like it in danger of never coming to fruition," said AHA President Susan Friedland.