- As the lead agent bank, U.S. Bank arranged $135 million in financing for the development of a student-housing complex in a once blighted area near the University of Southern California’s campus. Located in a low-income area, SBA HUB zone, state enterprise zone and a California Redevelopment Project Area, the project establishes a medical health facility to serve the local public, creates 25 units of affordable housing, and will employ local residents and at-risk youth, as well as establish a loan fund for local small business.
- U.S. Bank provided $30 million in financing for the rehabilitation of a 1900s office building in downtown Los Angeles. The project created 178 new market-rate apartments and was purchased by the developer as a result of the Adaptive Reuse Ordinance which has helped to convert older economically distressed or historically significant buildings for new uses. The project is in a revitalization plan zone and a low-income tract helping to redevelop a historic core area in Los Angeles.
- U.S. Bank provided a $10.4 million for the new construction of a 98 units for seniors with an additional 10 percent set aside for at risk homeless seniors in Panorama City.
U.S. Bank collaborated with Habitat for Humanity of Greater Los Angeles hosting “Build Days” in Lawndale, Lynwood and South Gate. More than 65 U.S. Bank employees volunteered more than 500 hours to help build two new homes and rehabilitate properties that will provide safe housing for low-income families.U.S. Bank hosted a donation drive for L.A. Family Housing, a provider of transitional housing that helps families who are in need of shelter every year since 2005. U.S. Bank employees donated gift cards, hundreds of toys, new bedding, turkeys, fresh fruits and vegetables for the families in the shelter. All of the donations were delivered at a holiday celebration hosted by U.S. Bank at the Comunidad Cesar Chavez. U.S. Bank has been an active member of the SCANPH since 2000. To learn more about the SCANPH conference visit www.scanph.org/conference. U.S. Bancorp (NYSE: USB), with $352 billion in assets as of Sept. 30, 2012, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,086 banking offices in 25 states and 5,080 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.