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  • California Community Reinvestment Corporation and Federal Home Loan Bank of SF Partner to Ensure the Preservation of Affordable Housing

    Flexible Financing Partnership Guarantees Development in San Diego Will Remain Affordable GLENDALE, CA, UNITED STATES, January 16, 2025 -- California Community Reinvestment Corporation (CCRC) is excited to announce a crucial financing partnership with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) to ensure the long-term stability of Creekside Trails affordable housing in San Diego. Originally funded in 2006 with CCRC financing, Creekside Trails has provided vulnerable residents in San Diego with support for well over a decade. Still, deliberate financing strategies are necessary to mitigate the risk of these units becoming market rate during the tax credit resyndication process. Supportive financing from FHLBank San Francisco allows CCRC to refinance the development using CCRC’s bridge loan lending product, which bridges the re-syndication of tax credits to guarantee the units remain affordable. As these units serve a population earning up to 60% of the Area Median Income (AMI), this partnership decisively assures that the valued current residents of Creekside Trails will not be displaced or forced into extreme rent burden. FHLBank San Francisco is committed to supporting affordable housing and partnering with the diverse and wide range of coalitions necessary to combat the housing crisis. As a certified Community Development Financial Institution (CDFI) and member of FHLBank San Francisco, CCRC is looking forward to leaning in with fellow housing-committed partners and building an equitable future for housing in California. About California Community Reinvestment Corporation: CCRC is a trusted leader in multifamily affordable housing finance, providing term financing for multifamily rental housing in California through a taxable mortgage pool and direct purchase of tax-exempt bonds. CCRC’s innovative products and partnerships offer CRA-eligible lending opportunities that have resulted in the creation of over 48,000 affordable housing units statewide. For more information, visit https://www.e-ccrc.org . About Federal Home Loan Bank of San Francisco: The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada to build strong communities, create opportunity, and change lives for the better. The tools and resources the Bank provides to member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — helps propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together, with its members and other partners, FHLBank San Francisco is making communities more vibrant, equitable, and resilient. For more information, visit https://www.fhlbsf.com/ .

  • California Community Reinvestment Corporation Announces Increase in Credit Line to $1.9 Million with State Bank of India

    Expanded Partnership Enhances Funding for Affordable Housing Communities Across California California Community Reinvestment Corporation (CCRC) is pleased to announce that State Bank of India (SBI) , a long-standing and valued member of our banking consortium, has increased its credit line with CCRC by $500,000, bringing the total credit line to $1.9 million. This significant increase in State Bank of India’s credit line underscores its commitment to supporting California Community Reinvestment Corporation’s mission to create and preserve affordable housing for low-income families, seniors, and special-needs residents across California. Since its founding in 1989, CCRC has facilitated the development of over 48,000 affordable housing units by leveraging private capital to address the state’s critical housing challenges. The expanded credit line enables CCRC to continue offering innovative and flexible financing solutions to its partners while also providing critical resources to vulnerable communities. State Bank of India, with its extensive global presence and commitment to impactful lending, recognizes the vital role that stable housing plays in building stronger communities. Through this strengthened partnership, SBI and CCRC aim to amplify their shared impact in addressing California’s housing crisis. About California Community Reinvestment Corporation: CCRC is a trusted leader in multifamily affordable housing finance, providing term financing for multifamily rental housing in California through a taxable mortgage pool and direct purchase of tax-exempt bonds. CCRC’s innovative products and partnerships offer CRA-eligible lending opportunities that have resulted in the creation of over 48,000 affordable housing units statewide. For more information, visit https://www.e-ccrc.org . About State Bank of India: State Bank of India (SBI) is a leading global banking institution with over 200 years of expertise in delivering reliable financial services. As India’s largest bank, SBI is committed to supporting sustainable development and fostering growth across communities through innovative financial solutions and impactful partnerships. For more information, visit https://www.sbi.co.in .

  • Ally Bank Makes $25,000 Contribution to CCRC's Mary Kaiser Education Scholarship

    CCRC-partnered member bank Ally Bank has made a charitable contribution of $25,000 to the Mary Kaiser Education Scholarship Fund! With over $500,000 awarded to low-income students in scholarships since inception in 2008, the Mary Kaiser Education Scholarship provides residents of CCRC-financed communities with elasticity and autonomy when pursuing educational opportunities.  CCRC has helped to create over 48,000 units of affordable housing through facilitation of private capital flow, serving low-income families, seniors, and residents with special needs throughout California since the consortium’s inception in 1989. The Mary Kaiser Education Scholarship extends this work with a focus on serving our residents including and beyond providing safe, sustainable, and dignified housing by also alleviating financial barriers to education.  As this scholarship is reliant on charitable contributions from grant providers like Ally Bank, CCRC is extremely grateful to all who participate in the mission. Mitigating roadblocks to financial autonomy and self-determination for vulnerable communities is an all-hands process, and Ally Bank leaning in with us to do the work and create mobility shows their commitment to a more equitable future. CCRC looks forward to joining hands with all committed partners to create, sustain, and imagine the future of California that is characterized by accessibility and sustainability. The 2024-2025 scholarship cycle awarded 29 deserving students pursuing higher educational and qualified trade school opportunities. CCRC looks forward to using this grant in the upcoming 2025-2026 scholarship cycle, with applications to come soon. Thank you again to Ally Bank for the generous contribution to affordable housing and educational access! About California Community Reinvestment Corporation: CCRC is a reliable and trusted partner and California’s premier multifamily housing lender, tackling the affordable housing crisis throughout the state. CCRC and its lending products are providing term financing for multifamily rental housing in California through a taxable mortgage pool and by committing to purchase tax-exempt bonds directly. With the help of various products and partnerships, CCRC can offer CRA-eligible lending and investment opportunities. This financial support has led to the creation of more than 48,000 low-cost housing units for vulnerable individuals and families across the state of California. For more information, visit  https://www.e-ccrc.org/ About Ally Bank: Ally Bank is a leading financial service provider with a focus on client care and accessibility. Having started in the 1920s as an auto financier, Ally Financial Inc. has grown to meet the moment throughout its 100+ years of operation and continues to provide reliable, around-the-clock service. Through strong support to a variety of clients and a firm belief in support of their users, Ally Bank looks forward to continuing to provide measurable impact. For more information, visit https://www.ally.com/about/

  • CCRC Attends the Grand Opening of Los Lirios in Los Angeles, CA

    On Friday, November 15th, CCRC's Vice President of Loan Originations  Jennifer Quevedo  attended the grand opening of Los Lirios in Los Angeles!  With 9,500 applicants for 64 income-restricted units, Los Lirios is a powerful reminder of the urgent demand for housing that is both affordable and sustainable. Located in Boyle Heights, Los Lirios demonstrates how transit-oriented developments can address the critical moment of building climate infrastructure while also enhancing community well-being. By integrating housing and transportation, Los Lirios reduces reliance on cars, directly addressing the environmental impacts of long commutes. Situated along Metro’s E Line and three Metro Bus routes, it offers residents a more sustainable way to navigate Los Angeles while contributing to reduced regional traffic and pollution. Los Lirios features studios, one-, two-, and three-bedroom apartments for families earning 30%-50% of the Area Median Income (AMI). Importantly, 20 units are dedicated to formerly homeless households, supported by Project-Based Section 8 Vouchers,  PATH VENTURES ’ case management, and services from  East LA Community Corporation . Residents benefit from thoughtfully designed amenities: a workout room, laundry facilities, community spaces, a children’s play area, and an outdoor courtyard, plus onsite offices for management and support providers—all tailored to foster stability and connection. As part of the Metro Joint Development Program, Los Lirios exemplifies the integration of affordable housing with transit-oriented development to create vibrant, sustainable communities. CCRC is committed to financing forward-thinking and multi-purpose developments like Los Lirios to meet the growing demand for affordable housing while reducing the state’s carbon footprint. This is just one example of the kind of forward-facing work of integrating communities with green infrastructure to create lasting people-oriented progress.

  • City National Bank Supports Students in Affordable Housing with $10,000 Grant to CCRC's Mary Kaiser Education Scholarship

    GLENDALE, CA, UNITED STATES – September 17, 2024 – City National Bank has made a $10,000 charitable contribution to the California Community Reinvestment Corporation’s Mary Kaiser Education Scholarship, demonstrating their commitment to CCRC’s mission of empowering low-income communities across California. The Mary Kaiser Education Scholarship supports students pursuing higher education or GED assistance who live in CCRC-financed affordable housing communities. Named after Mary Kaiser, CCRC’s former president of 27 years, the scholarship has awarded over $500,000 to residents of these communities. Many recipients are first-generation college students, single parents with dependent children, or individuals facing significant barriers to educational achievement. This scholarship serves as a crucial resource for restoring opportunities to historically underserved demographics through education. Affordable housing is essential for creating stability and autonomy within vulnerable communities, but CCRC's mission extends beyond simply providing shelter. To address the long-standing challenges faced by low-income Californians, CCRC is committed to supporting housing as a continuum, from houselessness to affordable housing to homeownership, and restoring financial autonomy to vulnerable Californians. Support from organizations like City National Bank enables the Mary Kaiser Education Scholarship to continue fostering resilience and unlocking opportunities for those who need it most. About California Community Reinvestment Corporation: CCRC is a reliable and trusted partner and California’s premier multifamily housing lender, tackling the affordable housing crisis throughout the state. CCRC and its lending products are providing term financing for multifamily rental housing in California through a taxable mortgage pool and by committing to purchase tax-exempt bonds directly. With the help of various products and partnerships, CCRC can offer CRA-eligible lending and investment opportunities. This financial support has led to the creation of more than 48,000 low-cost housing units for vulnerable individuals and families across the state of California. For more information, visit  https://www.e-ccrc.org/ About City National Bank: Founded in 1954 and acting as a subsidiary of the Royal Bank of Canada, City National Bank has established a reputation as a people-first financial service provider with proven success in community investment. Driven by a mission to provide quality banking to a diverse client base across North America, City National Bank has dedicated substantial resources to education, housing, and other people-oriented services. To read more, see: https://www.cnb.com/content/cnb/en/about-us.html

  • CCRC's President & CEO Tia Boatman Patterson Discusses Role of Federal Government in Housing Policy with Atlanta Civic Circle

    California Community Reinvestment Corporation (CCRC) President & CEO Tia Boatman Patterson recently talked with Sean Keenan of the Atlanta Civic Circle to discuss the role of the federal government - specifically the President of the United States - in the housing policy process ahead of the general election in November.    As the President appoints the Secretary of the U.S. Department of Housing and Urban Development (HUD) and the director of the Federal Housing Finance Agency (FHFA), Presidential candidates are frequently evaluated based on their housing policy perspectives. Yet the politicization of housing policy ends up creating a binary in housing solutions, where bipartisan work to effectively address the shortage rarely gets accomplished.    The ability to create and affect housing infrastructure at a federal level is an incredibly potent power, but change can be made from all sides of the political spectrum to meet the needs of the vulnerable in this nation.  “Everyone should be concerned about this,” Tia Boatman Patterson wrote. To read more, see: https://atlantaciviccircle.org/2024/08/12/how-the-us-president-pushes-housing-policy/

  • First Northern Bank Of Dixon Doubles Credit Line With CCRC To $1M, Enhancing Affordable Housing Support In California

    GLENDALE, CA, UNITED STATES – August 8, 2024 – First Northern Bank of Dixon has doubled its credit line with California Community Reinvestment Corporation (CCRC), increasing its previously $500,000 participation to a new total of $1,000,000! The collaboration of committed member banks like First Northern Bank of Dixon is a mutually beneficial means of ensuring support to vulnerable communities while also maximizing the ability of these banks to meet their CRA requirements. CCRC’s access to credit from banks in the lending consortium is operationally fundamental, and these credit commitments allow the organization the mobility it needs to expand affordable housing development across California. “First Northern Bank of Dixon has been a committed member bank since 2002,” said CCRC’s SVP – Chief of Staff Maria Majczinger . “Long-term partnerships like what First Northern Bank of Dixon has shown are critical to supporting our efforts to address the pervasive housing crisis in California.” First Northern Bank of Dixon is a locally-owned bank serving a diverse community of Californians, with longstanding values to put people first and operate with integrity. Since its founding in 1910, First Northern Bank of Dixon has strengthened its operations exponentially and now provides financial services to a client base across multiple counties in California. The partnership between CCRC and First Northern Bank of Dixon exemplifies a cross-organizational duty to maximize the resiliency of the state, its economy, and the communities within. About California Community Reinvestment Corporation: CCRC is a reliable and trusted partner and California’s premier multifamily housing lender, tackling the affordable housing crisis throughout the state. CCRC and its lending products are providing term financing for multifamily rental housing in California through a taxable mortgage pool and by committing to purchase tax-exempt bonds directly. With the help of various products and partnerships, CCRC can offer CRA-eligible lending and investment opportunities. This financial support has led to the creation of more than 48,000 low-cost housing units for vulnerable individuals and families across the state of California. For more information, visit  https://www.e-ccrc.org/ About First Northern Bank of Dixon: Founded in 1910, First Northern Bank of Dixon has created a reputation for independent ownership and accountability to its client base. Serving counties from Solano to Sacramento to El Dorado, First Northern Bank of Dixon offers an array of specialized financial services. First Northern Bank of Dixon is experienced, resourceful, and dedicated to putting people first with a longstanding eye on excellence in banking. For more information, visit   https://www.thatsmybank.com .

  • HSBC Bank Increases Participation in CCRC by $5,000,000!

    GLENDALE, CA, UNITED STATES – August 6, 2024 – HSBC Bank has increased its participation in California Community Reinvestment Corporation (CCRC) by $5,000,000! The total credit line between CCRC and HSBC Bank now stands at $20,000,000, showcasing the unwavering commitment of HSBC Bank to serving vulnerable Californians. HSBC Bank’s credit line with CCRC has been operational since 2013 and has been indispensable in CCRC’s achievements in the affordable housing space over the last several years, including the production of over 48,000 housing units since founding in 1989. The creation and production of affordable housing through CCRC’s lending consortium relies on our member banks leaning in and finding opportunity to enact positive change as HSBC has. “HSBC Bank’s credit line increase will make an innumerable difference in CCRC’s ability to finance affordable housing,” said CCRC President & CEO Tia Boatman Patterson . “The work that we’re doing for low-income communities across California can’t wait, and HSBC digging in and committing to doing the work with us is extremely heartening.” HSBC has over 150 years of experience in banking, providing more-than-centennial proof of their ability to effectively manage and support an international client base. The bank’s support for sustainability, community development, and affordable housing through their corporate investments drive home their mission to ensure quality and accountability in the global economy. About California Community Reinvestment Corporation: CCRC is a reliable and trusted partner and California’s premier multifamily housing lender, tackling the affordable housing crisis throughout the state. CCRC and its lending products are providing term financing for multifamily rental housing in California through a taxable mortgage pool and by committing to purchase tax-exempt bonds directly. With the help of various products and partnerships, CCRC can offer CRA-eligible lending and investment opportunities. This financial support has led to the creation of more than 48,000 low-cost housing units for vulnerable individuals and families across the state of California. For more information, visit  https://www.e-ccrc.org/ About HSBC Bank, USA, N.A.: Powered by strong and longlasting international networks and more than 100 years of banking experience, HSBC’s USA branch has served the nation since 1865. Through cross-border investment and innovative banking and financial services, HSBC transcends traditionality and empowers its base of clients to new heights in their diverse pursuits. For more information, visit https://www.about.us.hsbc.com/

  • Tia Boatman Patterson featured on NHC's Beyond Four Walls Podcast

    Recently, California Community Reinvestment Corporation (CCRC) President & CEO Tia Boatman Patterson  sat down with David Dworkin of the National Housing Conference (NHC) on the Beyond Four Walls podcast to discuss how to best navigate the expanding housing crisis and the work of qualified CDFIs like CCRC in that process. Boatman Patterson discussed her story which led her to housing, including her experience with homelessness, public housing, and homeownership, and the dissipating pathway between these different forms of housing. As federal financing has undergone several shifts since the early 2000’s, the continuum has become oriented towards permanent supportive housing almost exclusively. Boatman Patterson discussed how critical it is to understand housing as a continuum that serves all members of the community, including financing homelessness prevention, affordable housing preservation and affordable housing construction. As CCRC continues to work to maximize affordable housing opportunities, it is important to emphasize that comprehensive solutions bring all partners to the table. Redressing decades worth of housing infrastructure involves equal parts ideation and compromise, such that the work is oriented around the community it seeks to serve. CCRC is committed to building out the future of housing to serve all who struggle to find adequate housing across all income levels in California. To listen to the podcast, visit A Conversation with Tia Boatman Patterson, California Community Reinvestment Corporation | National Housing Conference ( nhc.org ) .

  • CCRC Attends Grand Opening of La Veranda in Boyle Heights

    California Community Reinvestment Corporation (CCRC)’s Aaron Smith and Ting Ting Xiao were honored to attend the grand opening of the La Veranda affordable housing complex in Boyle Heights, CA last Tuesday, June 18th! The Los Angeles County Metropolitan Transportation Authority (Metro) partnered with developer Adobe Communities to bring transit-oriented affordable housing to residents of Boyle Heights earning between 20% and 50% of the Area Median Income (AMI). At the ceremony, also attended by Los Angeles mayor and Metro board chair Karen Bass, dedication was made to the future of multi-faceted, community-oriented housing developments that champion mobility, accessibility, and sustainability. Metro’s partnership in La Veranda speaks to the possibility of dynamic, intuitive collaboration with a wide array of organizations to rectify the housing supply gap. CCRC is honored to provide long-term financing to La Veranda and looks forward to continuing to create, sustain, and join forces on equitable housing developments!

  • CCRC Receives A+ Credit Rating from S&P Global Ratings

    GLENDALE, CA, UNITED STATES - May 21, 2024 – S&P Global Ratings’ issuer credit rating (ICR) on California Community Reinvestment Corporation (CCRC) has been renewed as ‘A+’ with projections of a stable financial outlook! Profitability metrics, management, and asset quality have been judged as very strong compared with peers across the five-year period from fiscal year 2019 through 2023. Additionally, liquidity has been rated as strong in the same period due to CCRC’s proficiency in stewarding corporate assets. CCRC’s consistently strong lending performance represents the dedication that the organization owes to low -income communities throughout California. Through all the challenges of lending in a fluctuating economy, CCRC has found a way to maintain consistent success and set new industry standards of performance. Californian renters are experiencing extreme rent burden and need a sufficient supply of affordable housing. CCRC continues to seek various financing options as both a certified Community Development Financial Institution (CDFI) and a non-profit banking consortium to meet California’s urgent need to increase the state’s affordable housing supply.  This A+ credit rating provides new avenues for the organization to continue the work. About S&P Global Ratings: S&P Global Ratings is an American Credit-Rating Agency that publishes professionally reviewed opinions on organizational credit risks. These opinions include the capacity and willingness of organizations to meet the financial commitments they have undertaken, as well as projections of performance for individual debt issues. For more information, visit https://www.spglobal.com/ratings/en/products-benefits/products/credit-ratings About California Community Reinvestment Corporation: CCRC is a reliable and trusted partner and California’s premier multifamily housing lender, tackling the affordable housing crisis throughout the state. CCRC and its lending products are providing term financing for multifamily rental housing in California through a taxable mortgage pool and by committing to purchase tax-exempt bonds directly. With the help of various products and partnerships, CCRC can offer CRA-eligible lending and investment opportunities. This financial support has led to the creation of more than 47,000 low-cost housing units for vulnerable individuals and families across the state of California. For more information, visit https://www.e-ccrc.org/

  • Mission Valley Bank Increases Participation in CCRC

    Mission Valley Bank has increased its participation in California Community Reinvestment Corporation (CCRC) by $1,000,000, bringing their total participation amount to $10,000,000! CCRC is honored to have fostered a nearly ten-year relationship with Mission Valley Bank since its commitment to CCRC in 2016. Mission Valley Bank is a woman-led and operated commercial bank with a recorded history of community engagement and support. President, CEO & Director of Mission Valley Bancorp & Bank Tamara Gurney has built a legacy of doing the work to support local communities through both bank processes and outreach and continues to exemplify the bank’s slogan “Your Success is Our Mission.” “We are excited to continue our partnership with the California Community Reinvestment Corporation, furthering our mission to positively impact and uplift local communities,” said Tamara Gurney, CEO & President, Mission Valley Bank. The support that Mission Valley Bank has shown to addressing California’s housing crisis through affordable housing exemplifies the type of all-hands commitment that will move the needle towards a more equitable future. CCRC looks forward to continuing to work with change-committed banks like Mission Valley Bank to build the California that the state’s vulnerable community members deserve. About California Community Reinvestment Corporation: CCRC is a reliable and trusted partner and California’s premier multifamily housing lender, tackling the affordable housing crisis throughout the state. CCRC and its lending products are providing term financing for multifamily rental housing in California through a taxable mortgage pool and by committing to purchase tax-exempt bonds directly. With the help of various products and partnerships, CCRC can offer CRA-eligible lending and investment opportunities. This financial support has led to the creation of more than 47,000 low-cost housing units for vulnerable individuals and families across the state of California. For more information, visit https://www.e-ccrc.org/ About Mission Valley Bank: Mission Valley Bank is a commercial bank that opened in the San Fernando Valley in 2001. Community ownership and fostering personal relationships with the local community it represents are some of the most unifying principles of the organization. Mission Valley Bank’s slogan, “Your Success is Our Mission,” speaks to the quality of care and professional courtesy within its business conduct. For more information, visit https://www.missionvalleybank.com/

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