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Charleston Redevelopment Corporation highlights loans, land trust and leveraged financing in annual affordable-housing update
Summary
Jonathan Oakman, chairman of the Charleston Redevelopment Corporation board, told the Community Development Committee that CRC has deployed public financing to produce and preserve affordable housing and is pursuing additional funding and partnerships.
Jonathan Oakman, chairman of the Charleston Redevelopment Corporation board, told the committee that creating affordable housing is difficult in the current market and outlined CRC activities including development, lending and property acquisition to preserve affordability.
Oakman said the CRC has delivered single-family and multifamily affordable units, purchased two apartment complexes to prevent rent reversion and leveraged public financing: "since our inception, we've put $26,000,000 of…
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