Nearly one-quarter of all renters in the United States have income at or below 30% of the area median income, and three-quarters of these extremely low income renters are forced to spend more than half of their income on the cost of rent and utilities due to the ongoing shortage of affordable housing.
A new study of low-income tenants living in subsidized senior rental housing across 25 different U.S. cities – conducted by California Coalition for Rural Housing (CCRH) and National Community Reinvestment Coalition (NCRC), funded by Citi and published by the Federal Reserve Bank of San Francisco – found that older adults need more help avoiding financial abuse and fraud.
West Sacramento, Calif. — In the quarter ending December 31, 2014, Rural Community Assistance Corporation (RCAC) closed 20 loans totaling more than $5.5 million to assist rural communities in Alaska, Arizona, California, Idaho, Nevada, New Mexico, and Washington for community development projects.
West Sacramento, Calif. – After months of careful planning and fundraising, the Agua4All team last week unveiled the first water fountain and bottle filling stations (taps) to serve Eastern Coachella Valley and South Kern County residents.
West Sacramento, Calif. – Opportunity Finance Network (OFN) and the Citi Foundation selected Juanita Hallstrom, loan admin manager of Rural Community Assistance Corporation’s (RCAC) Lending & Housing Department, as one of 48 community development financial institution (CDFI) professionals who will participate in the second annual Citi Leadership Program for Opportunity Finance.