NEF has invested $8.8 billion of equity that has helped build 121,725 homes in 2,025 projects across America.


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Morgan Stanley supports LISC’s new Neighborhood Revitalization Loan Fund


The Neighborhood Revitalization Loan Fund will aid us in pushing LIHTC projects forward, noted Joe Hagan, President and CEO of the Chicago-based National Equity Fund, LISC’s LIHTC affiliate. “To say the LIHTC market has been up and down over the last few years is an understatement,” Hagan said. “This new LISC fund will help put shovels in the ground, support developers that are critical to community revitalization, and move struggling families into decent, affordable homes.” Read more.

Indy’s East Side Revitalization Has High-Profile Backers


East Village at Avondale is a $27 million project with eight layers of financing, including an investment from Atlanta-based Purpose Built Communities, co-founded by Buffett. Read more.

Morgan Stanley & NEF Expand $100MM Fund to Help Hurricane Irene States


The $100 million "Rebuilding Local Economies Fund”, established earlier this year, will support economic recovery in a total of 26 states by accelerating home-building and job creation. Read more.

AHTCC Responds to Coburn's Attack on Value of LIHTCs


The Affordable Housing Tax Credit Coalition has issued a strong rebuttal piece to Senator Tom Coburn’s (R-OK) proposal to eliminate the Low Income Housing Tax Credit, contained in his deficit reduction plan entitled “Back in Black”, released earlier this week. Read more.

Morgan Stanley-NEF Program to Speed Rebuilding in Disaster Areas


Morgan Stanley and National Equity Fund, Inc. have launched a disaster-area development program that seeks to accelerate affordable housing construction and create jobs in U.S. regions devastated by recent storms, floods and tornados. It includes a $100MM Morgan Stanley LIHTC fund as well as predevelopment capital from NEF to expedite the development process. Read more.

NEF Names New Midwest Vice President, Acquisitions


Rachel Rhodes is set to lead Midwest affordable housing investments based in Chicago. Rhodes has been with NEF since 2007 and has been one of the company’s top acquisitions managers, partnering with Midwest developers to help structure and finance their LIHTC projects. Read more.

Novogradac Report Further Reinforces Value of LIHTC Program


The report, written by Michael J. Novogradac, assesses the track record of low-income housing tax credit financed rental properties. Read the report.

LISC Publishes 2010 Annual Report


NEF's parent organization, the Local Initiatives Support Corporation (LISC), recently published its 2010 Annual Report, celebrating 30 years of Building Sustainable Communities. Access the online report now.

AHF Readers' Choice Finalists Announced


Affordable Housing Finance recently announced the 7th Annual Readers’ Choice finalists for the nation’s best developments of 2010-2011. Three NEF financed projects are among this prestigious group. Winners will be selected by the subscribers during online voting between July 13 and August 12. Read more.

-- Lexington Farms Subdivision in Jerseyville, IL; Capstone Development Corp.
-- SEASONS at Compton in Compton, CA; LINC Housing
-- Oak Hill Jackson Brickstones in Cedar Rapids, IA: Hatch Development Group

New Markets Tax Credits (NMTC)


The NMTC program is designed to provide investors with credits against federal income tax in return for new investments made in eligible businesses and commercial projects in low-income areas, thereby stimulating the investment of private capital in distressed communities. Learn more.