February 17, 2012
OCC Newsletter Focuses on Bank Financing for Homeless Housing Facilities
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today published the latest edition of its Community Developments Investments electronic newsletter, titled "Ending Homelessness: Financing Permanent Supportive Housing," which provides an in-depth look at bank financing for permanent supportive housing for the homeless. The newsletter articles provide background information about the population experiencing homelessness, the high cost of homelessness to communities, the federal efforts to address homelessness, and financial institutions' investments to support community goals to end homelessness. Articles further describe how banks are helping to build more supportive housing by investing in low income housing tax credits either directly or through equity funds.
"This newsletter provides examples of how banks can and are helping to end chronic homelessness by investing in the development of permanent supportive affordable housing for the homeless," said Acting Comptroller of the Currency John Walsh. "The articles in this newsletter review financing structures commonly used by banks to finance homeless housing facilities and how such investments may be eligible for positive Community Reinvestment Act consideration."
Community Developments Investments can be accessed on the OCC's Web site at: https://www.occ.gov/topics/community-affairs/publications/index-ca-publications.html#cdi. Banks interested in learning more about these opportunities may contact the OCC's District Community Affairs Officers (DCAOs) located throughout the nation. Their contact information is available at: https://www.occ.gov/topics/community-affairs/contacts.html.