Bank of America Merrill Lynch Provided More Than $2.6 Billion in Community Development Lending and Investing in 2012

  Bank of America Merrill Lynch Provided More Than $2.6 Billion in Community
  Development Lending and Investing in 2012

   Financing and Equity Commitments Across the U.S. Will Help Create Nearly
                       11,000 Affordable Housing Units

Business Wire

CHARLOTTE, N.C. -- February 14, 2013

Through its delivery of lending, tax credit equity investments and real estate
development solutions, Bank of America Merrill Lynch in 2012 provided more
than $2.6 billion for community development – commitments that will help
create nearly 11,000 affordable housing units.

Working closely with organizations that specialize in affordable housing,
Community Development Banking at Bank of America Merrill Lynch provided
financial solutions for developments in several states. The 2012 activity
included $1.75 billion in commercial real estate-based lending, up 9 percent
from 2011. The company also made $919 million in tax credit investments and
other community development equity, up more than 20 percent from the previous
year.

“Our Community Development Banking success in 2012 is just the latest
illustration of Bank of America Merrill Lynch’s leadership in helping finance
and support affordable housing development across the country,” said Maria
Barry, Community Development Banking executive. “For more than 30 years, we
have valued our commitment to revitalizing communities. Our 2012 performance
clearly shows that this commitment remains as strong as ever.”

Financing and equity commitments by Community Development Banking include
developments for low- and moderate-income families, seniors, and veterans, as
well as supportive housing efforts and projects that incorporate green and
transit-oriented elements.

In Houston, Community Development Banking is providing nearly $34 million in
debt and equity for Justice Park Senior Villas. Developed by Blazer Building
Inc., the 144 apartments will be for low- and moderate-income seniors who earn
30 percent to 60 percent of the area median income (AMI).

“Bank of America Merrill Lynch and Blazer Building have a long, successful
relationship, and this development is another great example,” said Chris
Richardson, president of Blazer Building. “We are excited about Justice Park
Villas and what it will offer seniors, and we appreciate the innovative
lending and investing solutions that helped make this project happen.”

In Seattle, Bank of America Merrill Lynch is providing more than $7.8 million
in loans and $9.6 million in tax credit equity through Enterprise Community
Investment for Delridge Supportive Housing, which will have 66 furnished
apartments for formerly homelessindividuals and families. The Downtown
Emergency Service Center (DESC) employs a Housing First programbased on the
premise that people are more likely to be successful intreatment when they
have a stable home.The new four-story building also will offer residents
24-hour staffing and on-site case management provided by DESC.

“Supportive housing is humane, cost-effective and a top priority in the
Seattle area. This new development in the Delridge neighborhood will help
those living with serious mental illnesses, chemical dependencies and
long-term homelessness,” said Bill Hobson, executive director of DESC. “By
eliminating the chaos of living on the streets, this project will improve the
quality of life for its residents and reduce their use of expensive emergency
response services, benefiting the broader community.”

Community Development Banking also is providing $24.5 million in debt and
equity for Concern Amityville, which will have 60 apartments for formerly
homeless veterans in Long Island, New York. Located on a former U.S. Army
Reserve site, the development by Concern for Independent Living will provide
residents with comprehensive support services and counseling on health care,
entitlements and benefits, mental health, and employment.

“This commitment will be invaluable for helping veterans who are in need of
safe, affordable housing," said Ralph Fasano, executive director of Concern
for Independent Living. “Bank of America Merrill Lynch has been a key part of
the project team, providing the right financial solutions to help move this
much-needed development forward.”

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 Bank of America
Community Development Corp., which serves as a development partner and
provides equity and tax credit guarantees as well as financing for properties
in low- and moderate-income communities across the country.

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