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For more than 24 years, the National Association of State and Local Equity Funds (NASLEF), has operated as a professional, nonprofit association formed to promote the efficient management of state and local equity funds. Throughout 41 states, NASLEF Active Members raise capital for affordable rental housing developments that qualify under the Low Income Housing Tax Credit (LIHTC) program. Collectively through 2016, member funds have raised over $13.8 billion in equity capital for rental housing developments throughout the country, creating or rehabilitating more than 173,488 units of affordable housing in 3,685 developments.
OUR MISSION
NASLEF’s mission is to promote a greater understanding of tax credit and other financing programs, to advocate for community development resources and to encourage the professional development of its member organizations all in support of the communities we serve. Our work is fueled by our members’ leadership in affordable housing advocacy, connection with community organizations, and knowledge of local markets. These organizational attributes enable NASLEF members to invest capital in strategic community endeavors, especially in underserved markets.
OUR IMPACT
NASLEF Active Members are visible in the communities they serve by providing affordable housing opportunities, strengthening neighborhoods, and impacting the lives of residents. Many member funds have developed philanthropic affiliates and foundations that fund programs that assist residents socially, economically, and educationally. Member funds also provide value-added services to development partners in the areas of technical assistance, training, engaging in local and state housing policy groups, and providing lending opportunities as certified CDFI organizations.
NASLEF member funds will continue to lobby for the continuation of the most successful affordable housing program in the nation. Fund members will continue to raise capital to provide affordable housing options for families, seniors, individuals, and special needs populations. NASLEF will continue to be a local presence with national impact on affordable housing.
Dana S. Boole
President and Chief Executive Officer
CAHEC
Mark McDaniel
President & CEO
Cinnaire
Stacy L. Sur
Member
Hawaii Housing Finance, LLC
Nancy Owens
President
Housing Vermont
Peter Sargent
Director of Capital Development
Massachusetts Housing Investment Corporation
Bernard T. Deasy
President
Merritt Community Capital Corporation
John Wiechmann
President
Midwest Housing Equity Group, Inc.
Don Sterhan
President
Mountain Plains Equity Group, Inc.
Bill Shanahan
President
Northern New England Housing Investment Fund
Hal Keller
President
Ohio Capital Corporation for Housing
John Kennedy
President & CEO
St. Louis/Kansas City Equity Fund, Inc.
Bob Newman
President & CEO
VCDC
There are two levels of membership in the NASLEF association: Active Member and Corporate Member. If you are interested in becoming an Active or Corporate member, please review the eligibility information below to ensure your organization qualifies. Membership in NASLEF must be approved by the NASLEF Board of Directors. We thank you for your interest in NASLEF and encourage you to submit an application. If you have any questions, please contact MARY KAY MEAGHER, NASLEF Executive Director.
PORTFOLIO OF HOMES BUILT
EQUITY RAISED
RESIDENT VOICES
NASLEF member funds not only invest in affordable housing communities but also invest in the residents who live in our communities. We know that providing safe, decent, affordable housing is a catalyst to revitalizing neighborhoods and stabilizing lives. We help provide supportive services that link residents to health, education, and employment services that will impact their lives socially, educationally, and economically.
Our residents value their housing and their lives are impacted daily by what it means to have a safe, stable place to call home.
UNITS BUILT
NASLEF MISSION: VALUE-ADDED TO PARTNERS
While raising capital to provide affordable housing opportunities is our core business, NASLEF member funds also actively provide value-added services to our partners in the industry. Many member funds serve vulnerable populations by investing resources into programs and activities that impact resident’s lives. Member funds have developed philanthropic affiliates and foundations that fund programs that assist residents socially, economically, and educationally.
Examples for 2016 from Member Funds include:
The CAHEC/CAHEC Foundation: As an affiliate of CAHEC, the CAHEC Foundation offers wellness and education initiatives to residents living in areas that CAHEC serves. In addition to CAHEC’s current menu of Community Investments grants, the CAHEC Foundation creates opportunities that go beyond affordable housing to help residents receive the critical resources they need to succeed. In 2016, CAHEC granted $1,061,000 from the Foundation.
Virginia Community Development Corporation (VCDC): In 2008, VCDC established the Vern Henley Special Initiatives Grant Program. This program affirms the belief that affordable housing should provide residents with quality shelter and access to services that foster their success. This holistic approach considers a range of factors that shape success — social, educational, physical, emotional, and economic. In 2016, VCDC awarded $167,240.
Ohio Capital Corporation for Housing (OCCH’s) philanthropic affiliate, the Ohio Capital Impact Corporation, funds programs targeted to neighborhoods and residents where OCCH has investments in affordable housing. More than $14 million in grants to partners have been awarded in these areas: Resident Development Fund, Partners, Neighborhoods, and Community Properties Impact Fund. In 2016, 45 grants totaling $965,982 were awarded (20 for summer camp and the remaining for Wellness, Youth Empowerment and Engagement, Advancement, Enriching the Lives of Seniors and Innovative Strategies). OCCH also awards scholarships to student residents through the Jerry Grier Scholarship program. In 2016, $133,060 was awarded to students.
Massachusetts Housing Investment Corporation (MHIC): MHIC operates a Charitable Contribution budget that starts at $25,000. They also have a $50,000 Charles Dahm Tuition Scholarship Fund for [children of] tenants of their properties who can apply for college tuition. Applicants are funded for four years and the amount fluctuates annually.
Housing Vermont: A few years ago, Housing Vermont created the Housing Vermont Scholarship. Residents of housing affiliated with Housing Vermont are eligible for a renewable annual scholarship of up to $2,500. Scholarships are available for both degreed and non-degreed programs as well as for those interested in taking classes that lead to certifications. Four scholarships are awarded annually.
Merritt Community Capital Corporation: Merritt offers funding for educational advancement. In 2016, Francisco State University awarded $23,434 to 3 students and California State University East Bay awarded $9,215 to 1 student.
Other funding includes:
Member funds engage development and management partners by providing opportunities for training and education on a regular basis. Examples include:
Member funds recognize that importance of providing technical assistance to partners navigating HUD and Housing Finance Agencies programs. Assistance is given in:
Member funds are actively involved in state and federal housing policy issues, engaging lobbyists, and serving on:
Member funds focus on raising capital and providing equity for affordable housing development and preservation. Many funds also offer loan products or operate a Certified Development Financial Institutions Program that offers:
