In Washington, D.C., Bank of America Merrill Lynch is providing more than $12 million in loans and $18 million in New Market Tax Credit investments for Washington Latin Public Charter School, which is renovating a former public school into a new campus for its middle and high school programs. Washington Latin now operates in three separate leased sites, including a church basement, and the new campus also will include athletic fields and space to build a gym.“This development is vital for the continued growth of Washington Latin Public Charter School, and we appreciate the support of Bank of America Merrill Lynch in moving forward with this significant effort,” said Martha Cutts, head of Washington Latin Public Charter School. “Along with our unique curriculum, diverse enrollment and excellent faculty, this new campus will be a major asset for our thriving school.” Bank of America Merrill Lynch also is providing more than $15.2 million in loans and nearly $24.7 million in Low Income Housing Tax Credit investments for the Joe Moretti Apartments in Miami. Related Urban is developing a new 13-story building that will have 116 apartments for senior residents at or below 60 percent of area median income (AMI). “The Joe Moretti Apartments will help address a significant need for convenient, affordable senior housing in this community, and Bank of America Merrill Lynch is playing a vital role in making this development a reality,” said Alberto Milo Jr., senior vice president and principal at Related Urban. “Through this financial support, seniors will have high-quality homes close to public transportation, neighborhood shopping and entertainment.” Bank of America Merrill Lynch is a leader in affordable housing finance nationally, providing financing for more than 114,000 units over the past eight years. Community Development Banking includes the Banc of America Community Development Corp., which serves as a development partner and provides debt and equity financing for properties in low- and moderate-income communities across the country.
Bank of AmericaBank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.“Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., both of which are registered as broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed.