Pay It Forward Program

Impact

Developments NeighborWorks Capital Equity Fund Emerging Minority Developers Fund (EMDF) Pay It Forward Program Investment Portfolio

Who We Are

About NEF Teams of Experts 2023 Annual Report Culture

Expertise

LIHTC Preservation Predevelopment Loans Supportive Housing Veterans Housing Housing+Healthcare Moderate Income / Workforce Housing

Partner Resources

Accountants Asset Managers Developers Investors Insurance Requirements

Connect

NEF’s affiliate, NEF Housing Charities, Inc., has established the Pay it Forward (PIF) program to augment NEF and partner equity investments in developers of color by providing participating developers with a flexible and patient capital bridge to tax credit applications and awards in the form of recoverable grants and application assistance loans. These grants are up to $50,000 and the loans are up to $250,000.

PIF Benefits

iN the earliest stages of LIHTC development, pAY iT FORWARD can ASSIST WITH:

Site Acquisition

Architect Design

Surveys

Environmental Studies

Entitlements

Tax Credit Fees

With the assistance of PIF grants and loans, developers of color can complete these pre-development activities required to apply for a tax credit award, further mitigating LIHTC affordable housing industry challenges.

PIF developer profile*

The developer will have materially participated in the development activities of at least one completed LIHTC development as developer, co-developer, or have other transferrable real estate development experience.
Developer has identified and is working on a specific LIHTC project and is at the point of applying for predevelopment financing to assist with applying for a LIHTC allocation within the next 12 months.

*Matching this profile does not guarantee eligibility for participation in PIF

Key Contact:

Lydia Smith, Vice President

Contact Us:

Email Lydia