Disposition Process
As a nonprofit syndicator that is committed to community development efforts, it is our hope at NEF, Inc. that the projects in which we invest can be maintained as affordable housing after the 15 year compliance period. We look forward to working with our sponsor partners to facilitate a smooth transition.
Here is how you can expect the disposition of your project to proceed.- NEF, Inc. contacts general partner to determine disposition strategy. Year 14 to year 15 of project compliance period
- Sponsor submits its purchase proposal, or plan for sale to a third party. Before end of year 15 of project compliance period
- NEF, Inc. Board Disposition Committee reviews proposal for approval. Year 15 to year 16 of project compliance period
- Real estate or limited partner interest is transferred.
As early as possible after end of year 15 of project compliance period.
Back to Year 15 Plan: Step-by-Step.
Featured Project: Seneca SRO
This $15 million project exemplifies both collaboration and creative financing that addresses a dire housing shortage in Buffalo, N.Y. Developed by two organizations with stellar track records -- DePaul Group and STEL -- in providing supportive housing for persons living with psychiatric disabilities and other special needs populations, the 75-unit Seneca SRO was built upon the former site of an asbestos-ridden bowling center, and it is one of the first projects to leverage tax credits and private debt with OMH funding.
View project profile.
NEF Project Portfolio >GO