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- EIN 43-1553849
- (314) 231-9400
- 1627 Washington Avenue St Louis MO 63103-1876 USA
- www.risestl.org
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Nonprofit Overview
Causes: Economic Development, Urban & Community Economic Development
Mission: Technical assistance corporation works to redevelop and strengthen communities by providing housing development services, capacity-building and financing for the successful revitalization of neighborhoods in the st louis metropolitan area in cooperation with rise community development, a 501(c)(3) organization.
Programs: Predevelopment and permanent financing: most nonprofit community development organizations do not have the ability to pay the costs necessary to get a development project to the point where conventional construction financing becomes available. To get redevelopment projects started in st. Louis's most distressed neighborhoods, technical assistance corporation ("tac") offers predevelopment loans to nonprofit neighborhood organizations, enabling them to start planning and building toward a vision of improved neighborhood vitality. These loans are offered at below-market interest rates and provide a "first-in" source of financing, accelerating the time from concept to construction and absorbing the risk that cannot be accepted by conventional lenders. Tac also receives tax credit generated charitable contributions that it uses to make subordinate loans and equity investments in affordable housing developments undertaken either by its own affiliates or unrelated third party affordable housing developers. Tac has provided over $35 million in loans for the development of over 3,500 affordable homes in the st. Louis areas.