Foundation for Innovation: MacArthur Supports New Enhanced LIHTC Preservation Fund

By Caitlin Jones
February 22, 2011 1 min read

Tax Credit Advisor, February 2011: The John D. and Catherine T. MacArthur Foundation has seeded a new “enhanced” low-income housing tax credit (LIHTC) fund providing added protection to investors against any cut-off of HUD Section 8 rent subsidies to financed projects.

The fund has two classes of investors with different yields and changing benefit ratios.

The Foundation is providing a $20 million guarantee in connection with the fund, which aims to provide $100 million to nonprofit developers to help finance the preservation and renovation of approximately 20 project-based Section 8 LIHTC properties nationwide serving more than 2,000 low-income residents.

The tax credits are being syndicated and the fund co-managed by the National Affordable Housing Trust, a nonprofit syndicator based in Columbus, Ohio, and Cornerstone Real Estate Advisors, LLC, a unit of Massachusetts Mutual Life Insurance Company (Mass Mutual).

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.