News

National Association of State and Local Equity Funds (NASLEF) Elects New President and Officers

September 13, 2021

The National Association of State and Local Equity Funds (NASLEF) recently elected new officers to serve the association over the next two years. Bob Newman, president of VCDC in Richmond, Virginia accepted the office of president succeeding Bill Shanahan, co-president of Evernorth. Incoming officers include Vice President, Jim Peffley, Chief Strategy...
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OCCH Achieves $5.3 Billion in Equity Raised With $312M Closing of Latest Fund

September 10, 2021

(Columbus, Ohio) — Columbus based financial intermediary Ohio Capital Corporation for Housing reached a new milestone with the closing of Ohio Equity Fund XXXI (OEF XXXI) at $312 million. Having secured commitments from 33 investors, including 1 new investor, OCCH has now raised over $5.3 billion in private equity investment...
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NASLEF Fund Members Awarded Rapid Response Program Grants for COVID Relief Through the U.S Treasury CDFI Fund

June 16, 2021

Four Member Funds of the National Association of State and Local Equity Funds (NASLEF) received a combined total of $7.2 million in grants through the Treasury’s Community Development Financial Institution (CDFI) Rapid Response Program (CDFI RRP). These funds will help communities recover from the economic impacts of the COVID-19 pandemic by allowing...
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Merritt Community Capital Closes Fund XXII, Its Biggest to Date

June 08, 2021

June 8, 2021 – OAKLAND, CA – Merritt Community Capital has closed the first round for Fund XXII, so far raising $102 million that will finance nine projects and create 452 affordable homes across California. This is the initial close for Fund XXII and Merritt expects to add investors through Q3. Fund XXII has eleven investors, including...
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Merritt Community Capital, Giving Back to Strengthen California’s Communities

February 26, 2021

February 26, 2021 — OAKLAND, CA — Merritt is best known for providing equity capital for affordable housing developments throughout California, having financed close to 10,000 homes for nearly 25,000 low-income people and raising nearly one billion dollars over the past thirty years. But Merritt’s investment in California goes beyond...
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Merritt Community Capital Closes $76.5 Million in Fund XXI, Second-Biggest Fund in its History

December 22, 2020

December 22, 2020 — OAKLAND, CA — In a hopeful end to a challenging year, Merritt Community Capital Corporation has closed Fund XXI, which raised $76.5 million in capital for affordable housing throughout California. Closing the second-biggest fund in Merritt’s history during the COVID-19 pandemic was no small feat, as the year brought...
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Changing Lives Through Affordable Housing: Raleigh-Based CAHEC Acquires Boyd Management to Diversify and Expand Reach, Impact

October 01, 2020

Raleigh, N.C., Oct. 1, 2020 – CAHEC, one of the largest nonprofit equity syndicators in the U.S., announces today it acquired Boyd Management, Inc. and its property development arm WWJ, LLC, which oversee...
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Five NASLEF Fund Members Receive $3.1 Million in CDFI Fund Awards for the Financial Assistance (FA) Program

September 30, 2020

Five Member Funds of the National Association of State and Local Equity Funds (NASLEF) recently received a combined total of $3.1 million in Financial Assistance (FA) awards through the U.S. Department of Treasury’s Community Development Financial Institution (CDFI) Fund. These awards, received through the CDFI Program, allow these organizations...
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Northern New England Housing Investment Fund and Housing Vermont Unite as a Single Entity

September 04, 2020

[Portland, ME and Burlington, VT] – Northern New England Housing Investment Fund (NNEHIF) and Housing Vermont (HV) announced they were uniting as a single entity to serve the low and moderate income people of Maine, New Hampshire and Vermont with affordable housing and community investments. The new regional organization, now named Evernorth, will...
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Three NASLEF Fund Members Receive $16.7 Million in CDFI Capital Magnet Fund Awards

February 28, 2020

(February 28, 2020)—Three Member Funds of the National Association of State and Local Equity Funds (NASLEF) recently received a combined total of $16.7 million in Capital Magnet Fund Awards through the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund. The CMF program is funded through allocations...
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Fannie Mae Invests $145 Million in LIHTC Funds with NASLEF Member Funds

November 14, 2018

Housing Finance
Fannie Mae has committed $145 million to NASLEF Member Funds Cinnaire, Ohio Capital Corporation for Housing (OCCH), and Midwest Housing Equity Group (MHEG) for rural housing development. Please click on the link below to access the article from Affordable Housing Finance.
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Bill Shanahan Elected President of the National Association of State and Local Equity Funds

October 23, 2018

The National Association of State and Local Equity Funds (NASLEF) recently elected new officers at the 25th Annual NASLEF Conference held in Boston, Massachusetts. Bill Shanahan, president of Northern New England Housing Investment Fund (NNEHIF) accepted the office of president succeeding Hal Keller, president of Ohio Capital Corporation for Housing....
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New Housing Community in Minneapolis Provides Hope for Military Veterans Struggling with Homelessness

September 20, 2017

Veterans East, a 100-unit apartment community, provides onsite support services to help ensure veterans have greater access to health, education and job-training programs Funding received from many public-private partners, including $5.2 million from UnitedHealth Group and $7.7 million in deferred loan funds from Minnesota Housing ...
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Massachusetts Housing Investment Corporation Finances Preservation of Affordable Housing in Springfield

June 26, 2017

BOSTON, June 26, 2017 – Massachusetts Housing Investment Corporation (MHIC) has closed on an $8.4 million low-income housing tax credit (LIHTC) investment for the preservation of 42 affordable rental apartments in Springfield’s Old Hill neighborhood. Called St. James Commons, the project is owned and is being rehabilitated by Springfield-based...
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Four NASLEF Fund Members Receive $19 Million in CDFI Capital

October 14, 2016

Four Member Funds of the National Association of State and Local Equity Funds (NASLEF) recently received a combined total of $19 million in Capital Magnet Fund Awards through the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund. The CMF program is funded through allocations made from the Government-Sponsored...
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Hal Keller Elected President of the National Association of State and Local Equity Funds

October 14, 2016

The National Association of State and Local Equity Funds (NASLEF) recently elected new officers at the 23rd Annual NASLEF Conference held in Portland, Maine. Hal Keller, president of Ohio Capital Corporation for Housing (OCCH), accepted the office of president succeeding Nancy Owens, president of Housing Vermont. NASLEF officers include: Vice President-...
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Salvation Army Project Recognized for Historic Preservation (St. Louis Post-Dispatch)

November 05, 2015

Source: St. Louis Post-Dispatch
The Salvation Army’s 3010 Apartments project in St. Louis is getting recognition from the National Trust for Historic Preservation. It is among 13 projects nationwide honored this week at the 2015 PastForward National Preservation Conference in Washington. The three­-story building at 3010 Washington Boulevard in midtown St....
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