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Hawaii Community Reinvestment Corporation
The Hawaii Community Reinvestment Corporation (HCRC) is a nonprofit community-based financial services corporation that provides equity and financing for affordable housing developments throughout the state of Hawaii. The corporation was chartered in 1991 to provide technical and financial assistance for the creation and preservation of affordable housing in Hawaii. Since its inception, it has made more than $147 million available for rental projects generating more than 2,600 affordable units. The projects have been completed through a combination of partnerships of financial institutions, private investors, and government agencies. HCRC offers permanent loans and tax credit equity funds. It also provides equity financing through the Hawaii Equity Loan Program (HELP). Six banks participate in the tax credit equity fund and nine have partnered to lend to the organization supporting the funding of more than 50 projects on five of Hawaii's islands. Project loans are long term and may be in amounts of up to $10 million.

For additional information regarding HCRC, contact Donald L. Tarleton, President, at 808-532-3115 or tarleton@lava.net.
[Published in News from the Districts, Community Developments, Winter 2006-2007]

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