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• Corporate Members • Board Members Active Members: CAHEC Dana S. Boole, President and Chief Executive Officer 7700 Falls of the Neuse Road, Suite 200 Raleigh, NC 27615 Telephone: (919) 788-1803 E-Mail: dboole@cahec.com Web: www.cahec.com Organization Description Created in 1992 to help finance the development of affordable rental housing in North Carolina, CAHEC today is a regional nonprofit equity syndicator headquartered in Raleigh. The company’s territory has moved beyond North Carolina’s borders to encompass ten southeastern and mid-Atlantic states plus the District of Columbia. To date, CAHEC’s portfolio contains more than 13,700 units of housing. CAHEC’s core business has also expanded from an exclusive focus on qualified low-income housing tax credit developments to include a variety of tax-credit preservation and community revitalization projects. In addition, CAHEC provides capital through a series of Community Investments that empower residents, promote the development of ownership housing and foster sustainability within the community. Delaware Community Investment Corporation James M. Peffley, President Two Mill Road, Suite 102 Wilmington, DE 19806 Telephone: (302) 655-1420 Cell: (302) 547-8245 Fax Number: (302) 655-1419 E-Mail: jpeffley@dcicnet.org Website: http://www.dcicnet.org/ 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 $354 million has been committed and/or funded/invested to our programs by DCIC’s 33 bank members. DCIC’s programs have assisted in the creation of over 4,700 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 FAHE aslo provides corporations with a profitable means of investing in affordable housing. Great Lakes Capital Fund Mark McDaniel, President/CEO 1000 S. Washington Avenue 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 (a/k/a Michigan Capital Fund for Housing and Indiana Capital Fund for Housing) was formed in 1993 and has generated more than $1.5 billion of loans and investments to create over 25,000 units of affordable housing. The Capital Fund has evolved over the last 18 years to become a Community Development Finance Corporation with technical and financial services supporting housing, historic and economic development tax credits, construction and permanent debt financing as a licensed Fannie Mae DUS lender, pre development financing, asset management services, title services and community leadership programs. Hawaii Housing Finance, LLC Stacy L. Sur, Member 3660 Waialae Avenue, Ste 210 Honolulu, Hawaii 96816 Telephone: (808) 738-0800 x 202 Fax Number: (808) 738 0802 E-Mail: stacy@hi-housingfinance.com Web: www.hawaiihousingfinance.com Donald L. Tarleton, Member 3660 Waialae Avenue, Ste 210 Honolulu, Hawaii 96816 Telephone: (808) 738-0800 x 203 Fax Number: (808) 738 0802 E-Mail: don@hi-housingfinance.com Web: www.hawaiihousingfinance.com Organization Description Hawaii Housing Finance, LLC was formed in 2003 and acquired the business of Hawaii Investors for Affordable Housing, Inc. (HIAHI) in 2007. Its mission remains the same: furthering 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, these organizations have created eight funds raising approximately $130 million dollars and creating over 1300 housing units throughout the state. Housing Vermont Nancy Owens, President 123 St. Paul Street Burlington, VT 05401 Telephone: (802) 863-8424 Fax Number: (802) 660-9034 E-Mail: nancy@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. Since its inception in 1988, Housing Vermont has raised more than $218 million in private equity to finance 144 affordable rental housing developments throughout Vermont. This equity has leveraged an additional $320 million in private financing and public investment. The 4,244 apartments created or renovated in these efforts serve low and moderate income Vermonters including seniors and those with special needs. Many developments also include commercial space. HV, received its first award of New Markets Tax Credits in 2009 and uses this resource to retain and create jobs for Vermonters by financing key community developments in downtown and village centers and in other concerted community efforts which benefit Vermont’s economic, healthcare, energy and food systems. Massachusetts Housing Investment Corporation Peter Sargent, Director of Capital Development 70 Federal St., 6th Floor Boston, MA 02110 Telephone: (617) 850-1027 Fax Number: (617) 850-1127 E-Mail: sargent@mhic.com Web: www.mhic.com Organization Description Massachusetts Housing Investment Corporation 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 LIHTC through its subsidiary, The Massachusetts Housing Equity Fund, Inc., and provides New Markets Tax Credit financing. To date, the corporation’s LIHTC portfolio contains approximately 13,000 rental units invested in over 300 properties in Massachusetts. MHIC is also an active participant in the NMTC Program having received six allocations totaling $454 million. NMTC investments are made throughout the six New England States, primarily concentrated in Massachusetts. 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 $394 million in capital for affordable housing development. Merritt Capital has created 13 upper tier limited partnerships and numerous direct investments. It is in the process of forming a 14th 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 over 5,000 units of affordable housing and it manages a portfolio of over 3,950 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 organization, created in 1993, that raises capital to invest in affordable housing throughout the Midwest. Its mission is to change lives for a better tomorrow by promoting the development and sustainability of quality affordable housing. MHEG has offices in Omaha, Nebraska; Topeka, Kansas; Des Moines, Iowa; and Oklahoma City, Oklahoma; with each state offering a separate syndication fund for low income housing 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. To date, MHEG has raised over $700 million of equity into affordable rental housing throughout the four-state area, creating and sustaining over 8,000 units of affordable housing. Mountain Plains Equity Group, Inc. Donald Sterhan, President 2825 3rd Avenue North, Suite 600 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) was established in 2003 as a Wyoming non-profit organization with the direction to serve as a Low Income Housing Tax Credit (LIHTC) syndicator in its founding states of Montana, North Dakota, and Wyoming. Over the course of the last 7 years, the Company has served its mission and grown its operations to also include LIHTC projects in Colorado and South Dakota. In addition, MPEG expanded its scope taking on the Asset Management of Tax Credit Exchange and Tax Credit Assistance projects in Alaska and North Dakota. MPEG plays an active role in the development of affordable housing projects by providing equity investment capital and other key resources to project developers in the Rocky Mountain Region. As a manager of investor equity funds, MPEG puts investment capital to work in the LIHTC marketplace by purchasing the tax credits awarded to qualified projects. As a tax credit syndicator, MPEG brings together developers and investors to promote affordable housing, community growth, and a better quality of life for the low-income population. In addition to its financing role, MPEG also provides services in the early-stage planning, design, and development of a project. MPEG has the development, expertise and technical support necessary to partner with developers as a consultant in any given tax credit project. In early 2010, MPEG was purchased by its President, Don Sterhan. The company has therefore converted to a Montana for profit corporation. The Company continues to operate under the leadership of Mr. Sterhan and serves the same founding mission. Northern New England Housing Investment Fund Bill Shanahan, President 75 Market Street, Suite 201 Portland, ME 04101 Telephone: (207) 772-8255 x 14 Fax Number: (207) 772-8241 E-Mail: bshanahan@nnehif.org Web: www.nnehif.org Organization Description The Northern New England Housing Investment Fund (NNEHIF) is a private, nonprofit 501(c)(3) corporation providing equity capital, technical assistance and consulting to affordable housing developers throughout Maine and New Hampshire. Since 1996, the corporation has raised $360 million in equity capital for affordable housing development with investments in 3,800 units of affordable housing. NNEHIF currently manages fifteen upper tier limited partnerships. 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 and is now an independent and self-supporting 501(C)(3) nonprofit organization with its own Board of Directors. OCCH provides an array of services to investors, developers, management companies and others in the affordable housing industry. OCCH has three primary areas of focus: raising tax credit equity for LIHTC projects, providing technical assistance and financial packaging for both non-profit and for profit developers, and performing asset management of our portfolio. OCCH raised over $2 billion in equity investment, financed more than 450 projects, and assisted in the creation of more than 25,000 affordable housing units. OCCH’s affiliates include an affordable housing property management company, Community Properties of Ohio Management Services (CPO) and a CDFI, Ohio Capital Finance Corporation (OCFC) that offers a number of affordable housing loan products. St. Louis/Kansas City Equity Fund, Inc. John Wuest, President/CEO 707 N. 2nd 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 Erica A. Dobreff 2 Cleaver Boulevard, Suite 405 Kansas City, MO 64112 Telephone: (816) 753-0941 Fax Number: (816) 753-0949 E-mail: edobreff@kcequityfund.com Web: www.kcequityfund.com Organization Description The St. Louis/Kansas City Equity Fund has played a critical role in creating affordable housing during the past 22 years. The fund has raised over $254 million since its inception, creating more than 3,600 homes throughout the State of Missouri, Southern Illinois and Kansas City, KS. 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. In addition to the day-to-day activities of development and asset management, we have devoted significant staff and financial resources to the following areas:
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 19 equity funds and has provided technical assistance in the financing, development and management of 116 investment partnerships, resulting in the creation of more than 4600 affordable housing units in Virginia. VCDC has secured over $330 million in equity from Corporate Investors, which has helped generate over $500 million in total development and has helped leverage additional public and private sector financing. Through its subsidiaries, VCDC co-develops and provides loans to projects that are sponsored by non-profit organizations and local housing authorities. Back to Top of Page ______________________________________________ NASLEF 1970 Broadway, Suite 250 Oakland, CA 94612 Phone: (510) 444-1101 info@naslef.org |
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