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Comerica Expands Community Development Lending Program
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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.
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DALLAS, March 15, 2021 /PRNewswire/ Comerica and the Comerica Charitable Foundation announced today a commitment to invest approximately $16 million in 2021 to support small businesses and communities impacted by COVID. This support is in addition to the $11 million in 2020 that was directed toward small business relief and nonprofits providing essential needs, such as food and supplies – as a result of the pandemic – in Comerica s footprint of Texas, Michigan, California, Arizona and Florida. As our communities persevere through the ongoing pandemic, we remain focused on supporting and partnering with organizations serving those disproportionately impacted by COVID-19, said Curt Farmer, Chairman and CEO, Comerica Incorporated and Comerica Bank. The pandemic has created unparalleled hardships for our communities, and we aim to help alleviate many of the challenges they face.
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