From the Novogradac Journal of Tax Credits:
By Teresa Garcia, Staff Writer
“[La Kretz] is in a severely distressed area, however, the area is undergoing significant revitalization,” said Jay Harrison, chief investment officer of Clearinghouse CDFI. Nearby, Clearinghouse and LADF have also contributed NMTC allocation to One Santa Fe, a $158 million mixed-use development with retail space and an affordable housing component that was financed with low-income housing tax credits (LIHTCs). Harrison said Clearinghouse was excited about the opportunity to invest in another NMTC project in the Cleantech Corridor. “I really do think that [La Kretz] is a piece of a much larger puzzle going in that part of Los Angeles, in terms of revitalization, renewal and job creation,” he said.