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Affordable Housing Development Fund Gets Extended

NEW YORK CITY—Private and public entities contributed capital to the effort, including NYC Comptroller Scott Stringer, Wells Fargo and Morgan Stanley.

1641 Andrews Ave CPC partnered with the city to provide $1.2 million for a rehab of 1641 Andrews Ave. in The Bronx.

NEW YORK CITY—The revolving construction lending facility of an affordable housing and community revitalization finance firm has been extended by $140 million.

The Community Preservation Corp.—along with lead funder Citi, New York City Comptroller Scott Stringer, NYC Housing Development Corp. president Gary Rodney, Wells Fargo, Morgan Stanley, and additional contributing partners—have brought CPC’s existing facility to a total of $490 million, giving CPC increased lending capacity for affordable housing development and the revitalization of underserved communities.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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