Comerica Expands Community Development Lending Program
DALLAS, March 17, 2021 /PRNewswire/ — Comerica Bank today announced it will expand its community development lending program, specifically as it relates to affordable housing.
Comerica plans to strengthen access to capital assistance for nonprofit and for-profit developers of Low-Income Housing Tax Credit (LIHTC) projects. The program will focus on increasing the availability of affordable multifamily housing for vulnerable communities in the markets Comerica services, providing tax credit lending to fund projects receiving reservations of LIHTC. Andrew Wong, Senior Vice President, Comerica Bank, will oversee Comerica’s support of these projects to bolster development of affordable multifamily housing.