NEF's Role
NEF, Inc. equity funds serve as limited partners in tax credit projects. As such, NEF, Inc. must agree to a general partner’s plan to sell its project at the end of the 15 year compliance period. Our role is to facilitate the disposition of the project from the limited partnership as soon as possible after that compliance period, in accordance with the partnership agreement’s terms. And, when all project partnerships in a particular equity fund are sold, we wind up the fund’s affairs on behalf of the fund's investors.
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.
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