State tax credits offer an essential additional resource for the affordable housing market—delivering benefits to both developers and investors while generating critical equity needed to deliver more affordable housing.
National Equity Fund (NEF) is pleased to announce its expansion into the State Tax Credit market. This platform builds on our proven track record with Federal Low-Income Housing Tax Credits (LIHTCs) and strengthens our ability to offer a one-stop execution to further support our mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing.
Today, 29 states and Washington, D.C. offer state tax credit programs, providing vital supplemental funding for LIHTC developments. These programs present a growing opportunity to pair federal LIHTCs with state tax credits, unlocking additional resources to boost affordable housing production across the country.
With our expertise, NEF is uniquely positioned to help partners and investors navigate and leverage these opportunities.
Development Pictured: Brushwood Farm in Lenox, MA
State Credits offer an attractive, low-risk after-tax yield for investors and are a powerful tool to offset a multitude of state tax liabilities, including Insurance Premiums Tax, Corporate Income Tax, and Franchise Tax.
State Credits are becoming an important source in the capital stack, allowing more projects to move forward. Some states are awarding State Credits without federal LIHTCs as a creative financing tool to bring additional affordable units to communities in need.
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MAIN CONTACTS
Liz Hibbard, Senior Vice President, Innovation and Strategic Growth
Jay Sullivan, Vice President, State Tax Credit Equity
