Opportunity Fund’s New Markets Tax Credits Program Closes Loan to Support Homeless Services Provider in San FranciscoPosted on Jun 28, 2018 by Jeff Wells
Opportunity Fund is excited to announce the closing of a $13.6 million loan for Compass Family Services, San Francisco’s largest family homeless services provider, to acquire and rehab a building that will serve as their headquarters and provide supportive services. The programs housed in the rehabilitated facility will help an estimated 3,700 homeless parents and children each year to achieve housing stability, economic self-sufficiency, and family well-being.
Some of Compass' clients
Compass Family Services is located in San Francisco’s Tenderloin neighborhood and operates an emergency shelter, transitional housing program, child care centers, and a computer lab and training center for families. They also provide rent subsidies and intensive case management support to help families find and maintain permanent housing.
Opportunity Fund’s New Markets Tax Credits (NMTC) program leverages federal tax credits to invest in high-impact community real estate projects that advance economic well-being across communities. These projects provide critical medical, housing, youth and education services, in addition to creating construction and facility jobs, in underserved communities throughout California and the Western United States.
As a Bay Area-based organization with an office in San Francisco, Opportunity Fund is proud to support Compass Family Services’ efforts to address homelessness and make our community stronger, healthier, and more vibrant.