Merritt Community Capital Corp. announced closing a $42 million institutional low-income housing tax credit (LIHTC) fund that will be used to help develop more than 400 affordable housing units in California.
“Merritt’s almost 30-year history of providing and preserving affordable housing in the state of California continues with this 20th multi-investor fund,” said Lisa Castillo, president and CEO. “We are grateful for the opportunity to work with long-standing providers of affordable housing and our loyal investors, including one new investor, to continue this work.”
The organization’s Fund XX is financing properties in Los Angeles, Sacramento, and San Francisco.
A LIHTC syndicator, Merritt provides equity capital for affordable housing throughout the state. Since 1989, it has financed approximately 9,000 affordable homes and invested more than $846 million in 21 separate funds.
