Family of Funds
Partnership for the Bay's Future family of loan funds consist of two distinct funding initiatives: the Bay’s Future Fund (BFF) and the Community Housing Fund (CHF). Both funding initiatives support the production and preservation of affordable homes. Managed by LISC and originated by LISC Bay Area, the Corporation for Supportive Housing (CSH), and Capital Impact Partners (Capital Impact), the funds are designed to bridge funding gaps throughout the region's rental housing market.
The Bay’s Future Fund
This $500 million loan fund supports projects serving individuals and families earning 0–120% of the Area Median Income (AMI). A variety of loan structures are available ranging from predevelopment to mini-permanent financing. Underwriting can be flexible to help create a structure that best fits project needs. Additional terms of this fund’s loans include:
- Competitive interest rates determined by AMI, loan term, and originator. A typical range is 4–5%
- Up to $7.5M loan size
- Loan-to-value (LTV) up to 150% for high-impact projects
- Loan term must mature by August 2030
The Community Housing Fund
This $150 million loan fund supports projects in which at least 20% of individuals and families housed earn at 30% AMI or below. Projects in Santa Clara County must meet Measure A AMI definition. Additional terms of this fund’s loans include:
- 2% interest rate
- Up to $15M loan size
- Up to 150% LTV
- Up to 18-year loan term (latest maturity 2038)