National Equity Fund (NEF) Announces a Record $2.2 Billion in Investments for 2021

National Equity Fund (NEF) Announces a Record $2.2 Billion in Investments for 2021

CHICAGO PRNewswire-HISPANIC PR WIRE -- In
2021, National Equity Fund (NEF) had its strongest performance throughout its 35-year history.

The nonprofit raised and deployed a record-breaking $2.2 billion in affordable housing investments, which included a record $1.23 billion in LIHTC investments and a record $930 million in affordable housing preservation lending.

In total, these investments created and preserved 13,550 affordable homes in 2021. Other notable activity for the year
included $110 million in committed Opportunity Zone investments, twinning with LIHTC benefits, to create new affordable housing where each state determines it’s needed most, and record workforce housing investments of nearly $40 million to support the nation’s “missing middle”.

NEF has also now raised over $112 million for its Emerging Minority Developer Fund to stand up to racial injustice and empower the next generation of Black, Indigenous, People of Color (BIPOC) LIHTC developers to build their financial capacity and overcome high barriers to entry in accessing LIHTC investment to build affordable housing.

“As COVID continues to wreak havoc across the country
affecting all communities – but disproportionately impacting lower- income communities - the need for quality affordable housing has never been greater,” said Matt Reilein, president and CEO of National Equity Fund.

 “We’re proud to have had such a strong year in support of our mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. Beyond the numbers, our continued growth means there are more individuals and families across the country with a safe, stable and affordable place to call home.”

National Equity Fund was founded by its affiliate Local
Initiatives Support Corporation (LISC), on January 9, 1987. This
was just a few months after the IRS first introduced the concept
of LIHTC as part of the Tax Reform Act to encourage private
investment in affordable housing on October 22, 1986.

Visit www.nefinc.org.

Latest Stories

Latest Podcast

The Importance of having that uncomfortable conversation