The Development Group oversees all phases of the development of affordable housing and community facilities. For each project they may:
- Identify and secure appropriate sites
- Procure necessary entitlements
- Assemble complex financing structures
- Manage the project team members
- Manage the development process
- Forge partnership with government agencies, community groups, and other nonprofit developers.
LACDC develops affordable housing throughout Los Angeles and Orange Counties. We remain the long-term owners of our developments. Our portfolio currently includes:
- Senior rental housing
- Family rental housing
- Special needs housing
- Single Room Occupancy (SRO)
- Single-family for-sale homes
- Subsidized childcare facilities
Carefully analyzed for financial feasibility, LACDC’s projects perform well for lenders and investors. With its 21-year track record in affordable housing developments, LACDC typically combines funding from private sources with loans and grants from city, county, state and federal government agencies. In total, LACDC has raised over $143 million for real estate development projects including over $80 million from state and local governments, over $12 million in permanent loans from conventional lenders, and over $51 in investor equity.
Funding Sources include:
- Community Development Block Grant
- HOME funds (including CHDO HOME funds)
- Redevelopment Tax Increment
- California Department of Housing and Community Development - CHRP, MHP, HOME
- California Housing and Finance Authority
- U. S. Department of Housing and Urban Development - Shelter Plus Care, Section 8 Moderate Rehabilitation, Supportive Housing Program, HOPWA, 202, and 811
- Tax exempt bonds
- Low Income Housing Tax Credits - 4% and 9%
LACDC was one of the first developers to use the Low Income Housing Tax Credit program in 1987. We leverage top equity dollars in the market to maximize the benefit of the tax credits and structure pay-in and capital contributions from investors to meet each project’s individual needs.
