The New Generation Fund offers flexible acquisition and predevelopment financing for developers committed to the creation and preservation of affordable housing in the City of Los Angeles.
Made possible through a partnership between the Los Angeles Housing Department, local foundations and public and private investment groups in the City of Los Angeles, the Fund provides loans at the following general terms.
High Capital Advance Rates of up to 120% LTV for Non-Profit and up to 95% LTV for For-Profit
Low Cost Fixed Rate Financing of approximately 5% to 5.5%
Loan Terms of up to 2 years plus extensions of 12 to 24 months.