CRA Approves Final Pillar in Affordable Housing Strategy

The CRA approved a Revolving Housing Loan Program, available in the Cleveland Avenue and Dr. Martin Luther King, Jr. Blvd. redevelopment areas during FY2020. The fund will be used exclusively to support developers who want to build housing targeting individuals that make 80% of the Area Median Income (AMI) or less. This loan incentive for affordable housing must be repaid within 24 months. Once repaid, the loans will continue to grow the trust fund in the project area. Learn more