The Downtown Development Corp. of Louisville’s revolving loan housing fund was selected as the best revolving loan fund program in the nation last week by the Council of Development Finance Agencies.
Louisville was selected from four finalists presenting their programs at the CDFA’s annual summit in St. Louis. The winning program was selected by a live audience vote.
Louisville’s program was recognized for its ability to encourage market rate housing in the city’s downtown area, according to CDFA president Toby Rittner.
The $6.8 million fund has helped to leverage financing for $128.6 million in downtown housing projects that have spurred an additional $2 billion in development within the central business district. The fund was created in the late 1990s through a partnership between the city and a consortium of 14 local private member institutions.
