PROJECTS ELIGIBLE FOR PCI FINANCING FALL INTO FOUR CATEGORIES:
Loans must support the development or preservation of rental or ownership housing with at least 20 percent of the units affordable to low and moderate income households*. Municipal, private and not for profit developers are eligible.
Eligible businesses include those with annual revenues of up to $5 million; businesses who are unable to obtain all of the required financing from conventional lending sources; businesses, who create jobs for low and moderate income residents, or who are located in a Massachusetts economic target area.
Loans for projects that will have a positive impact on low and moderate income* communities and neighborhoods are eligible. Examples include downtown renovation projects, purchase and rehab of abandoned properties and new construction of commercial and mixed use properties located in an economic target area.
Loans to organizations and companies that provide services targeted to low and moderate income households* including community health centers, child and adult day care, education and recreation centers and most social service providers are eligible.
* household incomes no greater than 80 percent of the area median