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There are many funds that provide equity for affordable housing using the Federal Low Income Housing Tax Credit, but NDC's Corporate Equity Fund (CEF) stands out. Most other funds are solely investors but NDC CEF brings something more to a project. Because our core service is Technical Assistance, we have the ability to work with local development sponsors very early in the project, providing expertise to guide the financial structuring from the beginning, identifying funding sources and securing additional public and private sector funds as needed. This approach leaves the community stronger in two ways: it gets the housing, and it gets
newly-skilled housing organizations.
Housing
Our projects are diverse in geography, in size, in sponsorship and in constituencies. They provide housing for low-income families and low-income elderly; for developmentally or physically disabled individuals and their families; for homeless men, women and families; and for senior citizens in need of assisted living facilities.
More About CEF:
- No project is too big or too small. Our projects range in size from six to 140 units.
- No specific project type or sponsor requirements. We provide equity for both new construction and rehabilitation and invest in both for-profit and not-for-profit projects.
- Rural, urban and in-between. CEF invests in small rural communities, large urban areas and mid-sized cities. Communities with projects overlooked by larger investment funds get the capital they need to provide housing for their low-income residents and to preserve historic buildings. CEF investments are at work in projects from New York City (pop. 8 million) to Mancos , Colorado (pop. 800); from coast to coast; from the Canadian border to the Gulf of Mexico and Puerto Rico , and everything in-between.
- No hassle Fund. CEF is small and results oriented - no layers of processors, underwriters, committees and lawyers to slow a project down and second-guess the developer. All the work is done by NDC's professionals, who process, approve and close, with the help of the CEF's own legal counsel. NDC makes the decisions. Approvals are quick, deal terms straightforward and flexible, and closings are timely.
- Project goals are achieved quickly . NDC has 20 field offices and has worked in thousands of communities nationwide. Our knowledge of local conditions, resources and rules gives us the ability to move more quickly than an outside investor.
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