Financial Innovation for Building and Preserving Affordable Homes
NAHT is a nonprofit low income housing tax credit syndicator dedicated to the creation and preservation of quality affordable housing throughout the United States for elderly persons, families, persons with disabilities and all others in need.
NAHT provides specialized financial intermediary and consulting services through equity, grants and loans, and Low Income Housing Tax Credit (LIHTC) to national and regional investors. NAHT provides development, asset management, and financial advisory services to SAHF members and other substantial nonprofit developers and owners.
SAHF has partnered with NAHT and other philanthropies and financial institutions to support innovative strategies to deliver Resident Services Coordination at affordable housing properties.
Strong Families Fund
The Strong Families Fund is a ten-year initiative of the Kresge Foundation, Robert Wood Johnson Foundation, Corporation for Supportive Housing, Stewards of Affordable Housing for the Future, the Community Development Trust, Goldman Sachs, and National Affordable Housing Trust. The purpose of The Strong Families Fund is to stimulate and support innovate strategies to design, deliver, and measure the impact of Resident Service Coordination for families. The fund combines federal Low-Income Housing Tax Credit for capital development with a pay-for-performance model to provide access to up to 10 years of incentive payments for developments. In return, developments must provide on-site social-service coordination targeted to improving resident and property outcome measures in five areas, including health and wellness, housing stability, and education. Multiple studies have cited improved outcomes for families and children from high-quality affordable housing with well-defined links to services. Such settings, research shows, also may lead to a reduction in other public-sector costs.
With the assistance of The Strong Families Fund, residents have access to a variety of supportive services through the coordinators specifically tailored to the needs of the community. Innovative approaches have been taken to integrate stable housing with community services such as finance management classes, nutrition and exercise classes, and after-school tutoring. Residents are eligible to participate in the services at no additional cost. This gives residents opportunities to improve their health and wellness, increase the success of their children in school, and live independently with dignity. A stable, healthy home sets the foundation for families to build brighter futures.
The CORES Certification recognizes organizations with a proven track record of providing qualityresident services coordination in affordable rental housing. This certification may be valuable to demonstrate this capacity and competency to potential partners and funders.
CORES Certification is one requirement (among others) in order for an owner of multifamily affordable housing to qualify for Fannie Mae™ Healthy Housing Rewards – Enhanced Resident Services™ financing incentives. This product enhancement benefits borrowers that incorporate resident services coordination systems in their newly constructed, rehabilitated or refinanced multifamily affordable rental properties.
Learn more about the CORES Certification.