Word: loan
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Dates: during 1990-1999
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...million loan will be administered by three intermediary non-profits. In their hands, the money will "revolve"--be loaned out, paid back and loaned out again--multiplying its effects up to 10 times...
...addition, Harvard's example will encourage other private institutions and the government to contribute to affordable housing, according to Mathew A. Thall, senior program director of Boston's Local Initiatives Support Corporation (LISC), a nonprofit organization which will dispense $10 million of the loan...
...will call for the University to give $20 million in low-interest loans and a $1 million grant to three non-profit groups in the Boston area. The loan money will be given by those groups to affordable-housing organizations and the grant will go to fund housing research...
...University will loan the $20 million over 20 years at two percent interest, a rate significantly lower than those offered by government agencies and private banks. The money will be dispensed to local housing development groups--$10 million to Cambridge and $10 million to Boston...
According to Grogan, the committee will serve to oversee and monitor the loan program, evaluate grant applications and mobilize University resources in support of affordable housing...