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Community Affordable Housing Equity Corporation

Dana S. Boole, President and Chief Executive Officer
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
Community Affordable Housing Equity Corporation (CAHEC) was formed as a nonprofit corporation in December 1992 for the express purpose of creating safe and affordable rental housing in North Carolina. Since that time, we have grown into a multistate, multifunctional organization that provides a host of acquisition and asset management services throughout the Southeast and mid-Atlantic region. We have also evolved into a service organization whose principles and values support our mission:

  • to raise and invest equity capital in qualified low-income housing tax credit projects and other tax credit products.
  • to provide capital through an array of Community Investments that (i) empower residents, (ii) promote the development of affordable rental and ownership housing, and (iii) foster sustainability within the communities we serve.

Our aim is to meet the needs of our customers and to ensure the long-range impact of our investments.



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
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 $370 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 Avenue
Lansing, MI 48910
Telephone: (517) 482-8555
Fax Number: (517) 482-8598
E-Mail: capmac@capfund.net
Web: www.capfund.net

Mark S. McDaniel, President / CEO
Chris Cox, Vice President & CFO
Jim Logue, Chief Operating Officer
Tom Edmiston, Regional President
Kevin Crawley, Director of Investor Relations and Fund Management
Jennifer Everhart, Chief Underwriter
Katherine Forth, Controller
Rick Laber, Managing Director of Asset Management
Vicki Mincey, Director of Asset Management Operations
Rich Swantek, Director of Asset Stabilization
Deborah Toby, Corporate Resources Manager
Victor Vasquez, Director of Development Services

Detroit Office
1906 25th Street
Detroit, MI 48216
Phone: (313) 841-3751
Fax: (313) 841-3758

    Dennis Quinn, Regional President
    Edward Bobinchak, Deputy Chief Underwriter

Indiana Regional Office
320 N. Meridian Street, Suite 1011
Indianapolis, IN 46204
Phone: (317) 423-8880
Fax: (317) 423-8855

    Jack Brummett, Regional President
    Fred Hash, Director of Business Development

Wisconsin Regional Office
16 North Carroll Street, Suite 300
Madison, WI 53703
Phone: (608) 260-0050

    Jerome Sullivan, Regional President - Wisconsin and Illinois
    Keith Broadnax, Wisconsin Director of Operations
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 20,000 units of affordable housing in Michigan, Illinois, 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 five offices: Lansing, Detroit, Indianapolis, Chicago and Madison.
 


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

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

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 seven funds raising $123.2 million dollars and assisting 1,186 housing units throughout the state.



Homestead Capital

Tobias W. Washington, Jr., President
805 S.W. Broadway, Suite 1500
Portland, OR 97205
Telephone: (503) 276-1555
Fax Number: (503) 276-1564
E-mail: tw@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 $417 million in 97 projects comprising approximately 45000 units of affordable housing. The company's success is a result of its regional expertise and regional commitment to "House People, Build Communities."

Homestead Capital was formed in 1993 to encourage corporate investment in Oregon, and now considers its market area to be the Western States of Oregon, Washington, Idaho and Utah. 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

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. HV has an ownership interest in 121 properties containing more than 4,000 apartments. HV has raised nearly $163 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

Peter Sargent, Director of Capital Development
70 Federal St.
Boston, MA 02110
Telephone: (617) 850-1027
Fax Number: (617) 850-1127
E-Mail: sargent@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 LIHTC portfolio contains approximately 12,750 rental units invested in over 300 properties in Massachusetts. MHIC is also an active participant in the New Markets Tax Credit Program having received five allocations totaling $364MM. 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 $307 million in capital for affordable housing development. Merritt Capital currently manages 12 upper tier limited partnerships and numerous direct investments. It is in the process of forming a 13th 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 3,896 units of affordable housing and it manages a portfolio of over 4,100 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 $450 million of equity into affordable rental housing throughout the four-state area, creating and sustaining over 6,000 units of affordable housing.



Mountain Plains Equity Group, Inc.

Donald Sterhan, President
490 N. 31st Street, Suite 101
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 non-profit company with its principal office in Billings, Montana. Beginning business operations in 2003, 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 a multi-state area focusing primarily on its founding states of Montana, North Dakota and Wyoming. As manager of investor equity funds, MPEG has the capital available to assist in the development of low-income tax credit housing (LIHTC) projects. Acting as a syndicator, MPEG purchases the tax credits of qualified LIHTC projects, thereby providing a valuable source of capital for developers. In working with developers to purchase the tax credits, MPEG adheres to specific investment guidelines and an exhaustive checklist of due diligence requirements. In addition to its financing role however, MPEG also provides services in the early-stage planning, design and development of a project. MEPG has the development expertise and technical support necessary to partner with developers as a consultant in any given tax credit project. This consulting service allows a developer to access the knowledge base of MPEG, including its industry associates and resources, to ensure efficient results and maximum benefit.

To date, on behalf of its investors, MPEG has place nearly $40 million in tax credit equity capital. The company is now working to allocate an additional $25 million in capital commitments in 2009.



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 $287 million in equity capital for affordable housing development. NNEHIF currently manages twelve upper tier limited partnerships, in Maine and New Hampshire. Since 1996, NNEHIF has invested in the development of over 3,018 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 and is now an independent and self-supporting 501C3 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 $1.5 billion in equity investment, financed more than 20,000 affordable housing units, and assisted in the creation of more than 400 projects.



St. Louis 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

Organization Description
The St. Louis Equity Fund has played a critical role in creating affordable housing during the past 20 years. SLEFI has raised over $198 million since its inception, creating $391 million of investments in housing throughout the State of Missouri and Southern Illinois. 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. The new governance structure allows Investors to serve on the Board of Directors or on one of the four standing committees. The Kansas City Equity Fund was formed in the fourth quarter of 2006 and is fully operational.

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 15 equity funds and has provided technical assistance in the financing, development and management of 96 investment partnerships, resulting in the creation of more than 3600 affordable housing units in Virginia. VCDC has secured over $250 million in equity from Corporate Investors, which has helped generate over $390 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.



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NASLEF
12100 Sunset Hills Road, Suite 130
Reston, VA 20190
Phone: (703) 234-4058 Fax: (703) 435-4390