Roundup: B of A Gives N.Y. Housing Group $20M Credit

SAN FRANCISCO - Bank of America Community Development Bank said it has provided a $20 million credit facility to Local Initiatives Managed Assets Corp.

The New York-based corporation, known as Limac, maintains a secondary market for affordable housing and community development loans. The credit facility can help generate new capital for the creation of low-income housing across the country.

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