National CORE has been awarded $5 million from the Southern California Association of Governments (SCAG) through its Regional Early Action Planning (REAP 2.0) Lasting Affordability Program. The funding will expand National CORE’s Catalyst Fund, a financing tool designed to accelerate affordable housing production.
National CORE initially established the Catalyst Fund with a $2 million Capital Magnet Fund investment to help cover early-stage development costs that are often difficult to finance. With SCAG’s investment, the fund will grow to $7 million, enabling National CORE to advance more projects while leveraging significantly larger public and private investment.
“We are grateful to SCAG for its leadership and investment in innovative approaches to increase housing supply and lasting affordability across Southern California,” said Michael Ruane, President of National CORE. “This partnership represents a scalable solution that can benefit communities across the nation.”
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