Affordable Housing Finance: Mercy Housing Closes First Deal With California Certificated Credits

Affordable Housing Finance: Mercy Housing Closes First Deal With California Certificated Credits
August 22, 2017 Peter

Construction is under way on the 180 West Beamer Street project in Woodland, Calif. The 80-unit development by Mercy Housing California is believed to be the first deal to close on financing that uses certificated state housing tax credits. Mercy Housing California has closed a deal to use “certificated” state housing credits on its latest affordable housing development. The transaction will help finance the development of the 180 West Beamer Street development in Woodland, Calif. The new 80-unit community will serve low-income families, with 32 units set aside for special-needs residents. The deal with investor U.S. Bancorp Community Development Corp. (USBCDC) is believed to be the first transaction using certificated credits to close in the state.

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