Affordable Housing, Announcements, Community Development, State News

New Qualified Tax Credit Syndicators for SSHP Developments

CT Housing Finance Authority and CT Dept. of Housing
 

An announcement from the Connecticut Housing Finance Authority and the CT Department of Housing:

The Connecticut Housing Finance Authority (CHFA) and the Department of Housing (DOH) are pleased to announce the identification of the National Development Council (NDC) and the National Equity Fund (NEF) as qualified tax credit syndicators for State-Sponsored Housing Portfolio (SSHP) developments seeking 4% Low-Income Housing Tax Credits (LIHTC's) and Tax Exempt Bonds along with State capital funding under the SSHP revitalization initiative.  NDC and NEF were qualified through a competitive process.  Both organizations have been working with CHFA and DOH to better understand the potential financing for SSHP recapitalization transactions and have indicated a readiness to work collaboratively with the public funders to make 4% LIHTC deals work, if possible.

CHFA and DOH encourage any SSHP applicant seeking 4% LIHTC investment along with DOH capital subsidy to contact NDC and/or NEF for a preliminary underwriting review, and to discuss a Letter of Intent (LOI) for LIHTC equity investment if the project meets the syndicator's criteria. 

No applicant is required to engage NDC or NEF in connection with its funding application.  Applicants may choose to work with and obtain a LOI from any tax credit syndicator that satisfies CHFA's minimum requirements.

National Development Corporation|
Matthew B. Wexler
Phone (212) 682-1106
MWexler@nationaldevelopmentcouncil.org 
www.nationaldevelopmentcouncil.org

National Equity Fund
Tony Lyons
Phone (860) 395-1330 
tlyons@nefinc.org 
www.nefinc.org 

 
 

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