ESIC Pledges $1 Billion in Tax Credit Equity, Loans, Grants For New York Affordable Housing

摘要

The Enterprise Social Investment Corporation (ESIC) has pledged $1 billion over five years in tax credit equity investments, loans, and grants to build or preserve 15,000 units of affordable housing in New York City. "The new initiative is a combination of things," explained Kirk Goodrich, the nonprofit syndicator's managing director for the Northeast. "A little less than half of it represents increased funding of existing programs, but more than half represents new programs." "For existing programs, the rate of funding exceeds what we have done in the past," Goodrich added. New York Mayor Michael R. Bloomberg announced the $1 billion initiative during ESIC's annual forum and the Enterprise Foundation's network conference in New York on October 14.