Mayor Faulconer announces $2 million investment to Affordable Housing Fund
SAN DIEGO (KUSI)- Mayor Faulconer joined elected officials today to announce a $2 million investment from U.S. bank toward an affordable housing fund.
The Local Initiative Support Corporation, known as LISC, is one of the nation’s largest non-profit funding organizations dealing with affordable housing.
Today’s investment will offer low interest loans for developers to start the process of building affordable housing in City Heights.
LISC provided a 4 to 1 match for ever contribution made into the fund, which brought the total of today’s contribution to $10 million.