Thanks to financial partners such as California United Bank and Pacific Western Bank, NPHS has been able to attract $650,000 in COIN CDFI investments to support affordable housing, community lending, and economic development activities in the Inland Empire. NPHS would like to recognize and thank Pacific Western Bank for their recent COIN investment to NPHS’ Community Investment Trust in the amount of $500,000. This investment will go towards NPHS’ Affordable Housing Development Fund to acquire and rehabilitate single-family homes for sale to first-time homeowners in the Inland Empire. As a federal and state-certified CDFI (Community Development Financial Institution), NPHS participates in the COIN (California Organized Investment Network) tax credit program that leverages private and public funding to attract and maximize investments within targeted communities served by NPHS. The investment from Pacific Western Bank will be leveraged with $400,000 from NPHS’ Community Investment Trust to create 30 homes for purchase over a period of 5 years. Pacific Western Bank has a long-standing history of supporting local communities. This investment is another example of how the Bank actively works to improve the well-being of the communities it serves.
NPHS’ Affordable Housing Programs include a wide array of services including development services for the acquisition, rehabilitation, and resale of homes, single family housing development, multi-family housing, and the administration of a local Healthy Homes grant program. Other services offered include down payment assistance and home improvement loan programs, as well as their new Sojourner Solar Panel Financing Program.
The Community Investment Trust serves as the NPHS’ CDFI Fund which leverages both public and private sector investments to finance the organization’s Affordable Housing Fund to support housing acquisition and development, capitalize its Community Lending Fund to provide financial products aimed to serve low–to-moderate income families, and finance the Social Investment Impact Fund to support NPHS social enterprise efforts. Expansion of the Trust through qualified investments allows NPHS to address key housing and community economic development issues in the Inland Empire, including the preservation and creation of quality, affordable rental housing, sustainable homeownership opportunities for first-time homebuyers, and access to financially responsible products.
NPHS is seeking to raise $10 million in equity investments over the next three years to capitalize and expand the Community Investment Trust to improve affordable housing, community lending, and economic development in the Inland Empire. Financial institutions, foundations, social impact investors, and the public sector interested in investing in the Community Investment Trust may contact Victor Ramirez, NPHS Vice President of Strategic Advancement, at (909) 218-8483 or at victor@nphsinc.org. Click here for further information on NPHS’ Community Investment Trust.
