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Fundraising - APRIL 16, 2020

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Boston Capital closes $84m California Tax Credit Fund

by Released

Boston Capital announced the closing of The California Corporate Tax Credit Fund IX, a portfolio of six affordable apartment properties for families in California, with a fund size of $84 million. Two properties feature new construction, while four will be preserved or rehabilitated.

Included in California Tax Credit Fund IX are The Dahlia, featuring 56 units of housing for homeless individuals and those at risk of homelessness in Los Angeles; The Hamlin Hotel, which offers 67 units of housing for homeless individuals in San Francisco; and Woodlands II, which includes 20 units of housing for families in Redding, an area affected by the Northern California wildfires in 2018. The Carr Fire in Shasta Country, where Redding is located, burned 230,000 acres and 1,600 structures, including 1,100 homes. The fund also includes apartment communities in Pacoima and Pico Rivera, both in Los Angeles County, as well as San Diego.

“With its severe shortage of affordable housing a

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