Virtual Booth: Bank of America
As you work to transform lives and communities, connect with more than 30 years of community development experience, expertise, and commitment at Bank of America Merrill Lynch. Whether you need tax credit investments, flexible lending, or other financial services, we can help you move projects to completion. We’ve committed $1.5 trillion to community development over the last ten years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.
COMMUNITY DEVELOPMENT BANKING (“CDB”) of Bank of America is committed to building stronger and healthier neighborhoods in low- and moderate-income communities. As experienced real estate lenders, our CDB associates deliver innovative financing solutions to help create affordable housing for individuals, families, seniors, students, veterans, the formerly homeless, and those with special needs. These efforts are part of the company’s commitment to deploying capital to address global issues outlined in the United Nations Sustainable Development Goals (SDGs).
Beginning in 2005, Bank of America launched a goal to lend and invest $750 billion for community development nationwide over ten years. In 2009 this goal was expanded to $1.5 trillion for the next ten years. This goal is the largest such program in the history of U.S. commercial banks and underscores the company’s position as the preeminent corporate leader in strengthening and revitalizing local communities across the country.
In 2019 Bank of America Community Development Banking (CDB) provided a record $4.88 billion in loans, tax credit equity investments, and other real estate development solutions and produced more than 9,200 housing units, of which, more than 8,200 were affordable, including:
- 3,657 green housing units.
- 1,818 housing units for seniors.
- 1,213 units for veterans, special needs and the formerly homeless.
- 640 units for workforce housing.
In addition, CDB financed 1,769 student seats in charter schools across the country.
Valerie A. Williams
Senior Vice President, Senior Relationship Manager
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