CLF is a proud member of the Community Investment Corporation of the Carolinas(CICCAR), a collaboration of financial institutions dedicated to providing housing opportunities to low-income individuals and families. Since 1990, CICCAR has provided over $240 million in permanent debt financing for nearly 300 workforce apartment communities, providing housing for over 14,500 households located throughout North Carolina, South Carolina, and Virginia. All developments house families, seniors, or individuals with disabilities who earn no more than 60% AMI.

CICCAR communities receive an allocation from the Federal Low-Income Housing Tax Credit program, as well as financing capital from non-federal sources including financial institutions and state/regional housing trust funds. By blending private and public capital, CICCAR has been successful in helping low-income families and individuals secure affordable housing.

Last year, CLF participated in four CICCAR loans to fund projects in Bennettsville, Columbia, Myrtle Beach, and Rock Hill. Just last week, our board of directors approved three additional CICCAR participation loans:

Project Name: Pebblebrook Place Apartments
Project Location: Newberry, SC
Purpose: To provide 48 units of multifamily housing to residents of Newberry earning between 50-60% AMI

Project Name: Port Royal Apartments
Project Location: Port Royal, SC
Purpose: To provide 60 multifamily rental units affordable to families earning between 50-60% AMI

Project Name: Applewood Villas Apartments
Project Location: Seneca, SC
Purpose: To provide 50 units of multifamily housing affordable to families earning between 50-60% AMI

Our participation with CICCAR is a win-win situation. Developers receive necessary funding to ensure project completion while we are given the opportunity to address the need for affordable housing across South Carolina. But the biggest winners are the individuals and families who are able to secure safe, affordable housing as a result of this financing.

For more information on our lending program, including our involvement with CICCAR, please contact Patrick King at