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NASLEF Members
• Corporate Members
• Board Members
Active Members:
Community Affordable Housing
Equity Corporation
Dana S. Boole, President and CEO
7700 Falls of the Neuse Road, Suite 200
Raleigh, NC 27615
Telephone: (919) 420-0063 x208
Fax Number:
(919) 532-1803
E-Mail: dboole@cahec.com
Web: www.cahec.com
Organization Description
Created in 1992 as a 501 (c)(3) nonprofit corporation, Community Affordable Housing Equity Corporation’s (CAHEC) mission is “to raise and invest equity capital in qualified low-income housing tax credit projects, to empower residents living in developments CAHEC helps finance, and to promote homeownership.” In addition to its core business of sponsoring investments in affordable rental housing, CAHEC provides an array of supportive services known as Community Programs, which are designed to empower residents living in developments that CAHEC helps finance.
Delaware Community
Investment Corporation
Doris R. Schnider, President
Three Mill Road, Suite 105
Wilmington, DE 19806
Telephone: (302) 655-1420
Fax Number: (302) 655-1419
E-Mail: DSchnider1@comcast.net
E-Mail: DCIC10@comcast.net
Organization Description
The Delaware Community Investment Corporation (DCIC) is a multibank community development corporation which was established in 1994. In addition to the Equity Fund Program, DCIC also offers loans for permanent financing of multifamily rental properties. DCIC has a commercial lending program for community revitalization such as daycare centers, medical centers, charter schools and shopping facilities in low to moderate income neighborhoods. Over $296 million has been committed and/or funded/invested to our programs by DCIC’s 40 bank members. DCIC’s programs have assisted in the creation of over 3,700 affordable housing units in the state of Delaware.
FAHE Capital Corporation
Sara Morgan, Director
106 Pasco Street
Berea, KY 40403
Telephone: (859) 986-2321
Fax Number: (859) 986-5836
E-Mail: sara@fahe.org
Web: www.fahe.org
Organization Description
FAHE Capital Corporation, in partnership with Virginia Community Development Corporation, launched the Housing Equity Fund of Kentucky in 2006 to provide developers of affordable housing with a dependable equity partner that understands their objectives and their mission and that provides technical assistance throughout the life of the project and to provide Corporations with a profitable means of investing in affordable housing.
Great Lakes Capital Fund
Mark McDaniel, President/CEO
1000 S. Washington Ave., Suite 200
Lansing, MI 48910
Telephone: (517) 482-8555
Fax Number: (517) 482-8598
E-Mail: capmac@capfund.net
Web: www.capfund.net
Organization Description
The Great Lakes Capital Fund (f/k/a Michigan Capital Fund for Housing and Indiana Capital Fund for Housing) was formed in 1993 and has generated more than $1 billion of loans and investments to create over 15,000 units of affordable housing in Michigan, Indiana and Wisconsin. Building upon its initial support from the Enterprise Foundation and ESIC, the Capital Fund has developed a wide array of technical and financial services including: community and project planning, predevelopment financing, construction and permanent loans, equity investments, a title company, and a youth leadership program (The Art of Leadership). The Fund has four offices: Lansing, Detroit, Indianapolis and Madison.
Hawaii Investors for Affordable Housing, Inc.
Stacy L. Sur, President
Pauahi Tower, Suite 2395
1001 Bishop Street
Honolulu, HI 96813
Telephone: (808) 532-3112
Fax Number: (808) 524-1069
E-Mail: slsur@lava.net
Web: http://www.hcrc-hawaii.org/
Organization Description
Hawaii Investors for Affordable Housing, Inc. (HIAHI) was formed in 1995 to further the development of affordable housing in the State of Hawaii through the creation of tax credit equity funds and by providing technical assistance to developers. To date, HIAHI has created three funds (Hawaii Affordable Housing) raising $155 million dollars, assisting 1,085 housing units throughout the state.
Homestead Capital
William C. McCormick, President
805 Southwest Broadway, Suite 1500
Portland, OR 97205
Telephone: (503) 276-1555
Fax Number: (503) 276-1564
E-mail: wm@homesteadcap.com
Web: www.homesteadcap.com
Organization Description
Homestead Capital is a not-for-profit syndicator of low-income housing tax credits, and has invested nearly $350 million in over 80 projects comprising approximately 4,000 units of affordable housing. The company’s success is a result of its regional expertise and regional commitment to “House People, Build Communities.” The company was formed in 1993 to encourage corporate investment in Oregon, and is now authorized to do business in ten western states. In addition to tax credit syndication services, Homestead Capital also provides technical assistance to housing development sponsors at no cost, and operates Homestead Community Financing, a community development loan fund.
Housing Vermont
Andy Broderick, President
123 St. Paul Street
Burlington, VT 05401
Telephone: (802) 863-8424
Fax Number: (802) 660-9034
E-Mail: andy@HVT.org
Web: www.hvt.org
Organization Description
Housing Vermont (HV) is a full-service
housing development company formed in 1988 as a nonprofit corporation.
HV works in partnership with local communities to build and
rehabilitate permanently affordable housing throughout the State. HV
has an ownership interest in 97 properties containing more than 3,100
apartments. HV has raised nearly $110 million in tax credit equity
through the LIHTC and historic rehabilitation programs.
Kansas City Equity Fund, LLC
Erica A. Dobreff, President
2 Cleaver Boulevard, Suite 405
Kansas City, MO 64112
Telephone: 816 753-0941
Fax: 816 753-0949
E-mail: edobreff@kcequityfund.com
Web: www.kcequityfund.com
Organization Description
The Kansas City Equity Fund was established in 2006, as an affiliate of the St. Louis Equity Fund, to provide equity for affordable housing in the 15-county Kansas City Metro area. Our mission is to effectively utilize corporate investment and available tax incentives to stimulate the development of rental housing affordable to low- and moderate-income families and seniors. We strive to revitalize neighborhoods through public/private cooperation and superior asset management.
Massachusetts Housing
Investment Corporation
Joseph Flatley, President and CEO
70 Federal St.
Boston, MA 02110
Telephone: (617) 850-1028
Fax Number: (617) 850-1128
E-Mail: flatley@mhic.com
Web: www.mhic.com
Organization Description
MHIC was created in July of 1990 to provide financing for affordable housing and community development throughout Massachusetts. The Corporation provides construction, permanent, and acquisition financing for projects with at least a 20 percent affordable component. The corporation also purchases low income housing tax credits through its subsidiary, The Massachusetts Housing Equity Fund, Inc., and provides New Markets Tax Credit financing. To date, the corporation’s portfolio contains approximately 11,500 rental units.
Merritt Community Capital Corporation
Bernard T. Deasy, President
1970 Broadway, Suite 250
Oakland, CA 94612
Telephone: (510) 444-7870
Fax Number: (510) 444-7874
E-Mail: BDeasy@merrittcap.org
Web: www.merrittcap.org
Organization Description
Merritt Community Capital Corporation is a private, nonprofit 501(c)(3) corporation providing equity financing to affordable housing developers throughout California. Since 1989, the corporation has raised more than $223 million in capital for affordable housing development. Merritt Capital currently manages nine upper tier limited partnerships and numerous direct investments. It is in the process of forming a tenth partnership fund. These funds invest in nine percent and four percent Low Income Housing Tax Credit projects and Acquisition with Moderate Rehabilitation projects. Merritt Capital has provided equity which has resulted in the creation or rehabilitation of 3,019 units of affordable housing and it manages a portfolio totaling 3,437 units of housing.
Midwest Housing Equity Group, Inc.
Jim Rieker, President
13520 California Street, Suite 250
Omaha , NE 68154
Phone: (402) 334-8899
Fax Number: (402) 334-5599
E-Mail: JRieker@mheginc.com
Web: www.mheginc.com
Organization Description
Midwest Housing Equity Group, Inc., (MHEG) is a non-profit that raises capital to invest in affordable housing throughout the states of Nebraska, Iowa, Oklahoma and Kansas. MHEG offers separate syndication funds in each of its states and therefore does business as Equity Fund of Nebraska (EFN), Kansas Equity Fund (KEF), Iowa Equity Fund (IEF), and Oklahoma Equity Fund (OEF) with each fund syndicating low income housing tax credits and historic tax credits. In addition, MHEG staff provides technical assistance to developers, owners and management companies on the development and management of tax credit properties. MHEG has raised over $330,000,000 and invested in over 150 developments, creating over 3500 affordable housing units.
Mountain Plains Equity Group, Inc.
Donald J. Sterhan, President & CEO
490 N. 31st Street, Suite 301
Billings, MT 59101
Telephone: (406) 254-1677
Fax: (406) 869-8693
E-Mail: sterhan@mpequity.com
Web: www.mpequity.com
Organization Description
Mountain Plains Equity Group, Inc. (MPEG) is a newly formed non-profit company with its principal office in Billings, Montana. The organization was formed as a collaborative effort among the respective Housing Finance Agencies in the states of North Dakota, Montana and Wyoming. The mission of this new company is to assist in the development and equity financing of small-to-medium sized LIHTC projects in the 3-state region of North Dakota, Montana & Wyoming. In fulfilling its mission, MPEG functions as a syndicator of tax credits and is aggressively pursuing the development of affordable housing in its service area. MPEG recently closed its first equity fund with over $7 million in investment capital.
Northern New England Housing Investment Fund
John Anton, President
183 Middle Street, 3rd Floor
Portland, ME 04101
Telephone: (207) 772-8255
Fax Number: (207) 772-8241
E-Mail: janton@housinginvestmentfund.org
Web: www.housinginvestmentfund.org
Organization Description
The Northern New England Housing Investment Fund (NNEHIF) is a private, nonprofit 501(c)(3) corporation providing equity capital and technical assistance to affordable housing developers throughout Maine and New Hampshire. Since 1996, the corporation has raised more than $250 million in equity capital for affordable housing development. NNEHIF currently manages eleven upper tier limited partnerships, in Maine and New Hampshire. Since 1996, NNEHIF has invested in the development of over 2,600 units of affordable housing.
Ohio Capital Corporation
for Housing
Hal Keller, President
88 E. Broad St., Suite 1800
Columbus, OH 43215
Telephone: (614) 224-8446
Fax Number: (614) 224-8452
E-Mail: HKeller@occh.org
Web: www.occh.org
Organization Description
The Ohio Capital Corporation for Housing (OCCH) was created in 1989 by the Ohio Housing Finance Agency. As a now independent nonprofit organization, OCCH has three primary activities: equity raising for LIHTC projects, financial packaging for developers of affordable housing, and asset management. OCCH raised over $1 billion in equity by 2005 and financed over 16,000 units. OCCH also issues tax exempt bonds as an instrumentality of the state housing agency, administers a HUD technical assistance grant for community-based nonprofits, and is involved in Section-8 portfolio re-engineering.
St. Louis Equity Fund, Inc.
John Wuest, President/CEO
707 N. Second St., Suite 308
St. Louis, MO 63102
Telephone: (314) 436-7810
Fax Number: (314) 436-1907
E-mail: JohnW@slefi.com
Web: www.slefi.com
Organization Description
The St. Louis Equity Fund has played a critical role in creating affordable housing during the past 18 years. SLEFI has raised over $157 million since its inception, creating $307 million of investments in housing throughout the State of Missouri. In 2006, the Board of Directors approved a strategic plan that included reconstructing the governance structure of the organization and an expansion to the Kansas City area and Southern Illinois. The new governance structure allows Investors to serve on the Board of Directors or on one of the four standing committees. SLEFI anticipates opening the Kansas City office in the fourth quarter of 2006. In addition to the day-to-day activities of development and asset management, SLEFI has devoted significant staff and financial resources to the following areas: Community Asset Management Company (CAMCO) continues to address the need for quality property management and resident support services. SLEFI’s Pre-Development Loan Program offers developers of affordable housing and historic rehabilitation projects financial assistance at the earliest stages of development. SLEFI completely rebuilt Tax Credit Manager, a web based database designed to answer an industry-wide need for quality data management.
Virginia Community Development Corporation
Ralph Nodine, President & CEO
1840 West Broad Street, Suite 200
Richmond, VA 23220
Telephone: (804) 343-1200
Fax Number: (804) 343-1043
E-mail: rnodine@vacdc.org
Web: www.vacdc.org
Organization Description
The Virginia Community Development Corporation (VCDC) was formed in 1990 with a mission to serve as a leader in the development of innovative affordable housing and revitalization of Virginia’s communities. VCDC currently manages 13 equity funds and has provided technical assistance in the financing, development and management of 80 investment partnerships, resulting in the creation of more than 2900 affordable housing units in Virginia. VCDC has secured over $190 million in equity from Corporate Investors, which has helped generate over $320 million in total development and has helped leverage additional public and private sector financing.
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NASLEF
12100 Sunset Hills Road, Suite 130
Reston, VA 20190
Phone: (703) 234-4058 Fax: (703) 435-4390
info@naslef.org |
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