Credit Suisse will be providing assistance to communities affected by the housing crisis by funding affordable housing developments around the country.
What does the settlement say about affordable housing?
Credit Suisse must provide funding to construct, rehabilitate, or preserve affordable housing developments for low-income families. The settlement sets forth requirements that are designed to ensure that Credit Suisse funds affordable housing developments in areas that have a critical need for affordable housing.
Construction, rehabilitation, or preservation of affordable housing
Credit Suisse will be providing no-interest loans, at a loss, to developers of affordable rental housing. Credit Suisse has already started to identify both new construction and rehabilitation projects for funding.
If you are an affordable housing developer and are interested in learning about potential funding opportunities, please contact Credit Suisse’s Affordable Housing Working Group at email@example.com.