BOISE - More than $4.1 million was invested by the Idaho Community Reinvestment Corporation (ICRC) in affordable housing in Idaho in 2001. That investment produced 170 additional units of housing (137 low-income and 33 market-rate units) in developments in Caldwell, Nampa, Mountain Home, and Emmett. In the past nine years ICRC has facilitated the addition of 1,308 affordable housing units in Idaho.

"Even in good economic times, our state needs quality affordable housing. In our current recessionary economy, the need is even greater," according to Rob Perez, President of the ICRC and Senior Vice President of U.S. Bank.

The ICRC is a nonprofit mortgage-banking consortium formed in 1993 by 10 Idaho financial institutions. Created as a nonprofit 501(c)(3) organization, the ICRC now has 15 Idaho financial institution members. Their $45 million revolving loan pool provides permanent financing for the development and acquisition of affordable rental housing throughout Idaho.

The ICRC, in partnership with IHFA, pursues a common goal of providing rental housing to low- to moderate-income Idaho families. The ICRC provides the capital and IHFA acts as its underwriting agent.

For more information, contact the ICRC at (208) 336-8847.