Cinnaire, a nonprofit financial partner with an office in Madison that supports community and economic revitalization initiatives, on Tuesday announced the closing of a $340 million Low-Income Housing Tax Credit (LIHTC) multi-investor fund, Fund 43. It’s the largest investment fund in the organization’s 32-year history.
The LIHTC program works to address the nation’s housing crisis, specifically by creating communities that serve families, seniors and people with special needs. Fund 43 will finance 33 developments across 11 states, including Wisconsin, and provide 2,455 affordable housing units supporting more than 5,400 individuals and generating more than $844 million in local economic activity.
With the successful close of Fund 43, Cinnaire has now raised nearly $5.6 billion in LIHTC equity and leveraged more than $11.7 billion in community investment.
