They were building a 74 unit affordable housing development for seniors. Lots of funding from different sources. From a CDFI for low income housing tax credit, about a $28 million project in total. A home grant of about $400,000 was the final piece of the puzzle [for a $28 million affordable housing project]. Put the capital stack together and finally got affordable housing built. Why would you cut funding for affordable housing construction in the middle of a housing supply crisis? (03:12–03:18)
CLAIM
Asserts that a $400,000 HOME grant was crucial for completing a $28 million housing project.
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