February 28, 2022 – OAKLAND, CA
Over the next three years, Merritt is contributing $2.5 million as part of their Commitment to California initiative to educate, train, and support over 800 professionals via scholarships, internships, career development, and innovative engagement. As an avid supporter of LISC, Merritt sees this contribution to their Housing Development Training Institute as a tangible way to create an impact in the affordable housing industry.
This grant from Merritt will allow California LISC offices to expand and strengthen the goals of the HDTI program, which include:
-Increasing the development capacity of community-based nonprofit development organizations by providing practical, comprehensive, and intensive skill training in affordable housing development and community development strategies and techniques.
-Increasing the supply of affordable housing through the program’s emphasis on production as part of the learning process.
-Fostering a network of project management professionals who serve as a resource to each other, share information, and provide peer support throughout their careers.
“Merritt strongly believes that HDTI is the most consequential program in California for affordable housing development,” states Ari Beliak, Merritt’s CEO and President. “As we invest in the future of California’s affordable housing through our Commitment to California initiative, we are excited to partner with LISC to grow the HDTI program, training more effective leaders in the industry.”
Merritt is dedicated to working with mission-aligned developers and funders and is committed to supporting the success of the affordable housing industry through financial contributions to programs such as HDTI. “We see the effort and investment into the next generation of affordable housing leaders, and the focus on equity, diversity and inclusion, as fundamental to building a better California,” said Beliak.
You can read the joint press release with LISC-LA here.
About Merritt Community Capital Corporation
Merritt Community Capital Corporation is a nonprofit dedicated to our mission to provide equity capital for affordable housing exclusively to California. We do this by partnering with mission-aligned affordable housing developers throughout the state to ensure the most critical communities are developed and maintained for low-income residents. Since 1989, Merritt has created and/or preserved more than 9,000 affordable homes, through investing $1 billion in 23 separate funds, providing housing for nearly 25,000 people.
*Picture Credit to LISC-LA