CHRISTIANSBURG, Va. - June 3, 2008 - Virginia Community Capital (VCC) and the National Housing Trust Community Development Fund (NHTCDF) two leading affordable housing lenders, announce today a new preservation acquisition loan pool to help preserve Virginia's affordable rental housing, an essential housing resource fo low income families and seniors.

With the help of private capital, VCC and NHTCDF have created a $30 million site acquisition loan pool to preserve and improve affordable rental homes in the Commonwealth. The Preservation Acquisition Loan (PAL) will provide flexible bridge financing (2-3 years) so affordable housing providers can acquire and hold affordable properties while they secure long-term financing.

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Private Money Creates $30M Bridge Loan Fund for Site Acquisition

Multi-housing News, Published: June 10, 2008
By Anuradha Kher, Online News Editor

Fund to Preserve Affordable Housing

The Roanoke Times, Published: June 13, 2008

By Tonia Moxley, Staff Writer

News History

• Virginia named finalist in MacArthur Foundation Housing Initiative

  7/22/2008 - 

• VCC and NHT Host the Virginia Housing Preservation Symposium

  6/18/2008 - 

• VCC and NHT Launch Preservation Acquisition Loan

  6/3/2008 - 

• View Our 2007 Annual Report

  6/1/2008 - 

• Wachovia Presents VCC with a $1 Million PRI

  3/13/2008 - 

• FHLBank Atlanta Names Jane Henderson to Advisory Council

  2/1/2008 - 

• USDA Rural Development Awards VCC $448,201

  12/12/2007 - On Dec. 12, USDA Rural Development presented Virginia Community Capital (VCC) with $448,201 in funding through the Intermediary Relending Program (IRP).

• VCC Celebrates Second Anniversary

  12/12/2007 - 

• The Village Green Opens in the Town of Floyd

  11/17/2007 - The Village Green, a commercial development of small business owners and artisans, celebrates its grand opening in Floyd, Virginia.

• Spring Valley Graphics Celebrates Grand Opening

  11/16/2007 - Spring Valley Graphics celebrates their grand opening at their new location in Galax, Virginia.

• VCC Participates in NRV Entrepreneur Express

  9/13/2007 - Senior Vice President Dawn DeHart participated in the New River Valley Entrepreneur Express Workshop sponsored by the Virginia Department of Business Assistance on Sept. 13.

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