The Life Initiative

The Life Initiative (TLI) was created in 1999 as the result of state legislation (Chapter 259 of the Massachusetts Acts of 1998). TLI was initially capitalized with $100 million for a 25-year period. Qualified investments include affordable and mixed income housing, both rental and homeownership, small businesses and job creation, and more. TLI can provide predevelopment, acquisition, construction, bridge, working capital and more.

TLI has made loans to support NOAH acquisitions, with loan terms ranging from 3 to 7 years, with TLI having discretion to extend loans. The loan-to-value can be up to 90%, with interest payments due quarterly. TLI does not impose its own rent or income restrictions.

After 25 years, TLI has invested over $700 million and supported 19,000 housing units, 2,048 childcare spots, and 11,253 jobs. Given the success of the initiative, the life insurance companies voluntarily extended the fund for another 10 years.