California Equity planned a pool for low-income housing.California Equity planned a pool for low-income housing LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- The California Equity Fund will start a $125 million investment pool to help non-profit groups build 4,000 low-income homes throughout California. Officials at the fund, an L.A.-based non-profit community development organization, said the majority of funds generated will be used to construct homes in Los Angeles, and that $40 million has already been raised. James Montgomery James Montgomery (November 4, 1771 - April 30, 1854) was a British editor and poet. Montgomery, poet, son of a pastor and missionary of the Moravian Brethren, was born at Irvine in Ayrshire, and educated at the Moravian School at Fulneck, near Pudsey in Leeds. , chairman and chief executive officer of Great Western Bank, and Nick Binkley, president of financial services for Security Pacific Bank, are spearheading the drive to raise the remaining $85 million. In addition to Great Western and Security Pacific, current Equity Fund investors include Atlantic Richfield Co., Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Home Savings of America, KTLA KTLA KCBS TV in Los Angeles Inc. and Kaufman and Broad Home Corp. The Equity Fund, a division of the Local Initiative Support Corp. of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , uses low-income tax credits to raise corporate investment dollars so low-income housing can be developed. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion