Enterprise Louisiana Loan Fund, New Orleans, LA
In support of a public-private partnership led by the New Orleans Redevelopment Authority (NORA), Goldman Sachs established the Enterprise Louisiana Loan Fund (ELLF) to help refinance construction loans on single-family homes in New Orleans neighborhoods hit hard by Hurricane Katrina.
ELLF encourages local lenders to extend credit towards the development of housing for low and moderate-income homeowners. ELLF plays a critical role in reducing the rate of vacancy and blight in several New Orleans neighborhoods, and in supporting the construction of affordable, energy-efficient single-family homes. Many of the homes that ELLF helps to finance are built on sites controlled by the Louisiana Land Trust, a publicly-controlled nonprofit created after Katrina to return vacant properties to private ownership.