It's been a busy year

Vol. 2025, Issue 2 | Published 15, July 2025

Read The 2024 Annual Report On Our New Website!

In Other News...

GLA Disburses $10M from the Commercial Acquisition Fund To 7 Community Organizations

On June 27, Genesis LA co-hosted a celebratory luncheon in partnership with LA County's Department of Economic Opportunity (DEO) and Supervisor Holly J. Mitchell's office, honoring the 7 recipients of the County's Commercial Acquisition Fund.

GLA administered the funds, which were provided by the American Rescue Plan Act (ARPA). These investments support the revitalization of commercial properties located in neighborhoods most impacted by the COVID-19 pandemic's economic disruptions. Recipients have since acquired vacant or abandoned land and buildings in these designated communities to support and grow small businesses.

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GLA Closes 3 NMTC Loans

In April, Genesis LA closed 3 New Markets Tax Credit loans, totaling $39.8 million.

Borrowers include the YMCA, Charles Drew University, and San Gabriel Valley Habitat for Humanity. The borrowers are constructing new community programming facilities in Downey, a new medical training facility in Willowbrook, and affordable housing in the San Gabriel Valley, respectively.

Alvarado & Temple Apartments Open

In January 2024, Genesis LA provided a $5,000,000 CDFI loan to Brilliant Corners in support of a new Project Homekey multifamily development that provides 64 units of supportive housing to individuals and families experiencing homelessness.

On July 10, 2025 Brilliant Corners announced the grand opening of the housing development. The renovated property provides additional accessible features, rooftop gardens, and on-site case management offices.

Newsletter

GLA Disburses $10M from the Commercial Acquisition Fund To 7 Community Organizations