Practice Areas

CCRC Workforce Housing Fund

For CCRC, Vine & Associates is organizing a real estate private equity fund to invest in affordable for-sale housing projects in California.  The fund is expected to open for business in September, 2005 and shortly thereafter fund its first project, the 102 condominium project known as the Fuller Lofts in Los Angeles.

CCRC Tax-Exempt Bond Fund

V&A designed and organized a tax-exempt bond fund to provide the benefits of tax-exempt bonds and low income housing tax credits primarily to smaller affordable rental housing projects in California.  The bank investors have agreed to purchase interests in tax-exempt private activity bonds whose purchase is approved by CCRC's bond committee.  Through the program over $80 million of commitments have been issued representing over 2,000 units of affordable housing.

Community Development Investment Program

V&A wrote the investment policies for this innovative program and for CCRC, acquired, financed, and rehabbed two expiring-use HUD Section 8 housing projects, recycling the housing units and preserving the HUD rent subsidies.