Freddie LIHTC Investments Pass $3B

Freddie Mac has announced that its latest investment in a project backed by Low Income Housing Tax Credits brings its total LIHTC investments since 1988 to more than $3 billion.The latest equity investment of $5 million was in the rehabilitation of Jackson Park Terrace, a rental housing community on the south side of Chicago. "This project is preserving vital affordable housing while supporting neighborhood revitalization efforts," said Daryl Hall, vice president of multifamily asset management at Freddie Mac. "We have found LIHTC investments to be among the most effective ways we can expand the availability of affordable rental housing to people who need it most." Freddie Mac said it invests in LIHTC funds sponsored by nonprofit and for-profit syndicators, buys tax credits in the secondary market, and has its own investment fund, the Freddie Mac Equity Plus fund. Freddie Mac can be found online at http://www.freddiemac.com.