Big Bond Heads to California
Today brings significant news for under-served communities throughout California, including Silicon Valley. Lake Forest-based Clearinghouse CDFI and Opportunity Finance Network just closed the first-ever bond from the US Treasury's CDFI Bond Guarantee Program for $100M, which will be used to finance community development projects for affordable housing, community facilities, and nonprofit agencies. Clearinghouse is funding the Rocketship 5 Investment Fund in San Jose, as well as Habitat for Humanity in Hayward. Clearinghouse CDFI helped fund the Girls Inc Simpson Center for Girls renovation project in Oakland.