The New Generation Fund LLC offers acquisition and predevelopment loans to developers committed to the creation and preservation of affordable housing in the City of Los Angeles.

Made possible through a partnership between the City of Los Angeles, national and local foundations and public and private investment groups in the City of Los Angeles, the Fund provides loans at the following general terms:

• Capital advance rates of up to 120% LTV for Non-Profit Borrowers and up to 95% LTV for For-Profit Borrowers
• Variable interest rate or Fixed interest rate option
• Loan terms of up to 3 years
• Limited Recourse down to 25% for Non-Profit Borrowers and 100% Recourse to For-Profit Borrowers
  

3/30/2011 – The New Generation Fund recently provided acquisition financing to Meta Housing for the purchase of a vacant lot in the Little Armenia and Thai Town neighborhoods. Meta Housing proposes the new construction of 120 units of housing reserved for low-income seniors