Contact: Pamela Hetz
Phone: (312) 882-5559
E-mail: phetz@cinnaire.comThis e-mail address is being protected from spambots. You need JavaScript enabled to view it
Cinnaire is a full-service community development financial partner that supports community stabilization and economic development by developing and nurturing partnerships with investors and mission-focused organizations. We provide creative loans, investments, and best-in-class services to partners.
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Cinnaire and MBA Service Corporation 2020 Community Fund is Largest Joint Fund Yet
Cinnaire and the Michigan Bankers Association Service Corporation (MBASC) recently announced the closing of the partnership's sixth affordable housing investment fund - the largest fund in its joint history - generating $16 million to support the development and rehabilitation of at least eight apartment communities across Michigan. These developments will provide 915 units of affordable housing to local communities. Since 2010, Cinnaire and MBASC have partnered to create five previous Low Income Housing Tax Credit (LIHTC) equity funds raising more than $58 million.
The fourteen banks investing in the 2020 Michigan Community Fund each demonstrate a firm commitment to investing in the people and the communities they serve. The 2020 Michigan Community Fund participants include Bank of Ann Arbor, Dearborn Federal Savings Bank, Eaton Community Bank, First National Bank of Michigan, Independent Bank, Lake Osceola State Bank, Level One Bank, Macatawa Bank, Mercantile Bank, Range Bank, Sturgis Bank & Trust, United Bank of Michigan, West Michigan Community Bank and West Shore Bank.