Genesis LA's New Markets Tax Credit financing supports ECF's expansion into Inglewood.

Genesis LA has closed $7.75 million in New Markets Tax Credit (NMTC) financing to support the Exceptional Children's Foundation (ECF) expand its services into Inglewood. ECF's new campus will redevelop an old warehouse to now include several new programs providing employment opportunities, arts enrichment, nutrition, health, and life skills to individuals with disabilities. The 28,000 sf project will include a light manufacturing and assembly operation where adults with special needs will be trained and employed in a variety of tasks, including packaging and candle manufacturing (a rendering of the production space is pictured above). ECF is undertaking an innovative approach to these services, by co-locating a private business onsite so that clients will work alongside other workers from the community. New arts studios onsite will allow clients to take art lessons from professional artists and offer the opportunity for clients to sell their art on A new kitchen facility will also teach clients about nutrition and healthy eating. ECF has been serving Los Angeles County since 1946. For more information, visit
Genesis LA thanks Wells Fargo, which served as NMTC investor for this project. 

SPOTLIGHT SERIES: The Star Apartments Tackles Challenges of Skid Row

Genesis LA's Community Advisory Board (CAB) has been interviewing operators and users of projects financed by Genesis LA as part of our new "Spotlight Series." The CAB's Spotlight Series investigates the impacts that projects are having on the community through the perspectives of different stakeholders. Here, CAB Member Helen Leung interviews Leepi Shimkhada, Program Manager for Housing for Health with LA County's Department of Health Services. Leepi discusses new efforts underway to improve the conditions on LA's Skid Row and how the Genesis LA-financed Star Apartments is a model for supportive housing development.  Read the interview here
Since 1955, MERCI has been providing life skills, developmental activities, and enrichment to individuals living with disabilities in the Eastside and San Gabriel Valley communities. MERCI's high level of service has attracted more demand for services than MERCI could provide. In 2010, MERCI launched a 3-phase redevelopment and expansion of its Monterey Park campus, which will allow the organization to nearly double its capacity to serve 240 clients and hire approximately 30 new staff. The project faced several delays and financing challenges, but Genesis LA was ultimately able to provide a $1.35 million loan to the project as well as provide New Markets Tax Credit (NMTC) financing to fill a financing gap that prevented the project from completing all 3 phases.  Construction is now underway (photo above shows multipurpose classroom building under construction) and the project is expected to be completed later this year. Genesis LA thanks the Nonprofit Finance Fund (NFF) for partnering on this project. NFF also invested $1.35 million to finance MERCI's expansion. We also thank JP Morgan Chase, which served as NMTC investor. 
Community members gathered in December to celebrate the opening of a new Ketchum YMCA-operated childcare center in Koreatown. The new center will serve 80 children, a 30% capacity increase from its former, dated facility. The childcare center is located on the ground floor of an 85-unit affordable housing development built by Mercy Housing. Project budget shortfalls had prevented the build-out of the childcare center, until Genesis LA provided a $550,000 loan to move the project forward. Owned by the First Unitarian Church, the new center replaces the previous 1960s-era childcare center that was demolished to make way for the new mixed-use Caroline Severance Manor housing and childcare project.