Los Angeles Development Fund

Los Angeles Development Fund's specific purpose is to assist in carrying out the economic Development program and objectives of the city of Los Angeles. It promotes the Development, establishment, or expansion of industries and commerce in low-income areas by generating private investment capital through the new markets tax credit program. As of 12/31/2023, the organization has received five allocations of new markets tax credits in the total amount of $310 million from the community Development financial institutions Fund, a division of the united states department of treasury. As of 12/31/2023, the organization has funded 25 projects utilizing $294.9 million of its new markets tax credit allocation.