This document summarizes the L.A. Supportive Housing Recovery Initiative launched by CSH and its partners to assist nonprofit developers experiencing financial difficulties from state budget crises and the tightened credit market. The initiative will provide grants, low-interest loans up to $1.5 million through a Project Completion Loan Fund, and technical assistance to complete supportive housing projects impacted by the economic crisis. The goal is to position the permanent supportive housing industry for long-term viability and help nonprofits continue their efforts to end homelessness in Los Angeles.

1. Thanks To Our Partners
Conrad N. Hilton Foundation
Community Redevelopment Agency
of the City of Los Angeles
Fannie Mae
JP Morgan Chase
Photo Courtesy of A Community of Friends.
For more information more about the
L.A. Supportive Housing Recovery
Initiative, contact CSH at:
(213) 623-4342
CSH is a national nonprofit community development
financial institution with offices located throughout the
United States. Building on a commitment to invest in
the communities it serves, CSH provides the advocacy,
expertise, leadership, and financial resources to make
it easier for local communities to create and operate
supportive housing, which is permanent housing linked
to services that prevent and end the cycle of chronic
homelessness. In 2003, CSH opened its offices in Los
Angeles. Since then, CSH has distributed over $22
million in funding to stimulate the development of over
2,000 units of housing throughout Los Angeles County.
Corporation for Supportive Housing
800 S. Figueroa Street, Ste. 790
Los Angeles, California 90017
(213) 623-4342
www.csh.org
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2. Helping Communities Stay The Course
Rippling effects of State and municipal budget crises
and tightened credit markets are threatening the
vitality of nonprofit and community based developers
~Supporting the
who are working hard to end homelessness in Los work of nonprofits
Angeles.
committed to
In response, CSH and its collaborative partners have ending homelessness...
launched the L.A. Supportive Housing Recovery
Initiative, a program designed to assist nonprofit
developers as they work hard to complete supportive
housing projects that have been impacted by the
economic crisis.
The L.A. Supportive Housing Recovery Initiative will:
Through the L.A. Supportive Housing Recovery Project Completion Loan Fund
1. Provide a mix of grants, unsecured, below-market Initiative, CSH will offer patient capital for projects
interest rate loans (CSH “Project Completion Loan that are stalled and have incurred additional holding
period costs. This assistance aims to lessen the Eligible Borrowers: Nonprofit developers of permanent
Fund”), and technical assistance to supportive
financial stress caused by these significant project supportive housing and affordable housing developers
housing developers.
delays. As in all of CSH’s financial products, financial able to set aside a percentage of units in a project for
assistance is provided according to CSH program permanent supportive housing
2. Foster collaboration among government,
foundations, banks, and community development guidelines and requirements.
Use of Funds: Additional predevelopment costs
financial institutions.
associated with delayed financing for permanent
supportive housing projects
3. Position the permanent supportive housing
industry for long-term viability.
Amount: Up to $1,500,000, subject to availability of
funds
Time of Repayment: At construction loan closing
Interest Rate: 3.5% Capitalized
Term: Up to 36 months
Geographic Restrictions: City of Los Angeles
Loan Origination Fees: 1.5%
Portraits from Finding Grace. (C) 2007 Lynn Blodgett.
All rights reserved. Used with permission.
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