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Community Capital Management to direct funds to hurricane recovery

After relief efforts for the victims of Hurricanes Harvey, Irma and Maria comes the rebuilding.

Florida, Texas, Puerto Rico and other disaster areas will need tens of billions of investment dollars for reconstruction.

To help finance recovery projects, Community Capital Management’s CRA Qualified Investment Fund will direct institutional, bank and retail investments to specific regions.

Bigger investors can focus on up to 17 impact themes, including disaster recovery. Capital is then invested in various impact bonds. After Hurricane Sandy, CCM helped finance Harlem River Point North, an affordable rental property that gave preference for a quarter of its 173 units to those displaced by the storm.

CCM, based in Fort Lauderdale, Fla., manages $2.4 billion in assets.

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