Revenues generated through
mortgage loans, not taxpayer dollars, repay the bonds.

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The awards are presented
annually to outstanding LIHTC projects in four categories. George Hotel is a historic rehabilitation of the former Bisbee
Hotel , originally constructed in 1904 and located in the Skid Row neighborhood
of downtown Los Angeles .
Bank of America provided the $3 million LIHTC equity investment to help
make the Midland Commons project a reality. Founded in 1984 as
a for-profit subsidiary of The Enterprise Foundation , ESIC and its affiliates
work with a variety of investment and development partners to finance,
develop , acquire and manage a portfolio of affordable housing and other
community development initiatives .

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Developed by Skid Row Housing Trust, a nonprofit
founded in 1989 to provide permanent housing for the homeless while preserving
the historic residential community, the project transformed the hotel into
affordable housing.

-- Down payment assistance programs helping over 34,000
first-time homebuyers get past the hurdle of the down payment
and closing costs

-- CalHFA has financed more than 48,000 loans totaling $340
million . "We are working with local
governments, lenders, community groups and other partners to expand
our existing programs and develop new ways to ease the path for
families trying to purchase a home.

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The Enterprise Social Investment Corporation Announces Five Award-Winning Projects

The ESIC-syndicated projects that won top honors include the St.

Parker says that the task of helping low and moderate income
Californians become homeowners is as difficult today as ever.

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"We're honored to be associated with the outstanding developers who made
these projects possible," said Jeff Donahue.

Now celebrating its 30th anniversary, CalHFA can measure its
achievements in the people it has served.

-- Local governments with financial assistance to promote
affordable housing in their communities

-- An effort that has resulted in financing for more than
17,000 affordable housing units in nearly 90 California
communities since the program began in 1999.
"Our loan programs are open to moderate income Californians as
well . "If you're a Californian
struggling to get into a home, you owe it to yourself to check out
CalHFA to see if we can make it financially possible.ca.

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Three of the properties won top honors in their respective
categories, two others earned honorable mentions.
Midland Commons Apartments is a 46-unit community that provides permanent
affordable housing and supportive services to very-low-income individuals
living with mental illness and substance abuse challenges. We also have special programs for teachers and residents in high
cost of living areas," Parker said.

rooming housing

"One of CalHFA's primary goals is to make the dream of
homeownership possible for more California families," said Theresa
Parker, Executive Director of CalHFA.

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Additional equity was invested
by Washington Mutual Bank through The WAMU Affordable Housing Fund."
In 1975, CalHFA was chartered as the state's self-supporting
affordable housing bank to make below market interest rate loans
through the sale of tax-exempt bonds.gov

tenants owning

, The Enterprise Social Investment
Corporation (ESIC) announced today that five ESIC-syndicated low -income
housing tax credit (LIHTC) properties were recognized by the Charles L. Numerous services and programs
including computer learning, after-school study, wellness and exercise, and
job skills are available to residents.
Today, what began with a dozen employees, $750,000 in funding and
a small number of loans, has blossomed into a nationally recognized
housing bank that operates 365 days a year throughout California with
a wide variety of below market rate loans and mortgage insurance
products. CalHFA has helped over
350,000 Californians obtain housing that is affordable through its
homeownership mortgage assistance and multifamily programs. We
couldn't have done so much without dedicated employees, stakeholders
and our partners in the real estate, construction and lending
communities.

Over the last 30 years the agency's primary programs have
provided:

-- Below-market interest rate loans to thousands of low and
moderate income first -time homebuyers

-- More than 6,600 families benefited from this program in
the last fiscal year, receiving total financing of more
than $1.

recognizing combatting

8 billion since the program began in 1975.calhfa.

reinvestment underwriting

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The 30-unit Clare Court project is a former convent built in 1917 that has
been transformed into a multi-generational housing community that provides
homes for retired Sisters of St. ESIC, headquartered in Columbia, Maryland,
now has over 200 employees and operates in 45 states plus the District of
Columbia and Puerto Rico. "When we look back, it's
exciting to think of the difference we've made by helping so many
Californians purchase a home or find affordable rental housing.

occupancy owning

COLUMBIA, Md. Francis of Assisi, families with children,
seniors , and people with disabilities.----When the
California Housing Finance Agency (CalHFA) was created in 1975, its
purpose was to foster safe, decent and affordable housing for
Californians by offering low interest loans for first-time homebuyers
and financing for affordable rental housing.
"Innovative efforts on the local and state level are creating and
preserving opportunities for homeownership and affordable rental
housing in the state," said Parker.

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We do
that in conjunction with developers who understand the value of supportive
housing, assisted living, and programs that offer stability so residents can
get back on their feet.
Each winning project will receive $5,000 from the Affordable Housing Tax
Credit Coalition to help bring additional services, facilities or amenities to
residents. Too often, Parker says, people are not aware of the
programs that can help bridge the gap to homeownership.

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2 billion.

-- Financing to build and preserve decent and affordable rental
housing

-- More than 34,000 units have been financed by CalHFA for a
total of $1.

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George
Hotel in Los Angeles, which won in the Metropolitan/Urban Housing category;
Midland Commons Apartments in Portland, Oregon, which won for Special Needs
Housing; and Clare Court in Baltimore, which won for Senior Housing. Francis of Assisi.
"With the median price of a California home now well over $400,000
and prices increasing in areas where housing once was very affordable,
the challenge for families trying to purchase their first home is
often seen as overwhelming," she said. There is also
often a misconception that CalHFA only assists very low income
homebuyers.

combatting canady

Developed by
Cascadia Behavioral Healthcare, Inc."
For more information on CalHFA and its affordable housing
programs, please visit www.

homesharing informing

"The awards reflect our
commitment to helping people and helping communities by bringing decent,
affordable housing to neighborhoods that can benefit the most.

CalHFA Celebrates 30 Years of Making Housing More Accessible to Californians

"
Due to the increasing cost of housing, the agency is committed to
developing new products and initiatives to meet the needs of
Californians.

canady owning

The Enterprise Social Investment Corporation (ESIC) is a national leader
in affordable housing and community revitalization efforts. In aggregate , these activities result in
the annual investment in or direct development of $1 billion in high -quality
affordable housing and related community enrichment facilities in underserved
neighborhoods across the country.

News Editors/Financial Editors/Housing Writers

SACRAMENTO, Calif.

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George provides 86 fully furnished units for
formerly homeless individuals with various disabilities . The project was developed by a unique
partnership of nonprofits, including Homes for America and Communities of
Care, as well as the Sisters of St.4 million LIHTC equity investment that made Clare
Court possible.

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Victory
Terrace in Potomac, Maryland and Historic Jefferson Center in Lafayette ,
Indiana received honorable mentions in the Metropolitan/Urban and Seniors
categories, respectively ."
"CalHFA is proud of its 30 year commitment to affordable housing,"
Parker said. "It is our hope that we can continue in these next 30
years to make homeownership and affordable housing available to
hundreds of thousands more California families.

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We don't shy
away from challenges; in fact , that's where we prefer to focus our resources. Residents receive
extensive support services, including mental health and substance abuse
treatment, and employment and computer training.
Fannie Mae made the $2.
The CalHFA programs can provide the help that people need to buy
their first home.

renters evict

"
The St.
Enterprise Housing Partners X funded the project, with lead investments
from Freddie Mac, Citicorp and JPMorganChase.

fair tenants

Edson
Tax Credit Excellence Awards sponsored by the Affordable Housing Tax Credit
Coalition.
We want to lend a helping hand to people who want to help themselves. The St., the project addresses the special needs
of Portland, Oregon's most vulnerable residents with a Housing First approach
that recognizes stable, affordable housing is often the basis for recovery. Since CalHFA began, the agency has
financed over 130,000 home loans worth more than $13
billion.