MHIC was founded in 1990 as a private non-profit by a consortium of banks to fill a critical gap in meeting the credit needs of affordable housing developers at a time when the real estate market was in turmoil.
Initially focused on attracting investor capital for Low Income Housing Tax Credit (LIHTC) properties and creating a loan pool for construction and acquisition lending, our product lines expanded in 2000 to include the New Markets Tax Credit (NMTC) program, and again in 2008 with the Neighborhood Stabilization Loan Fund to address the mortgage foreclosure crisis. NSLF was unwound in 2014. That same year, we launched our newest initiative – the Healthy Neighborhoods Equity Fund (HNEF) – to provide patient capital to help finance investments in housing, retail and commercial properties, that will not only economic benefits in jobs, but also measurable improvements to the environment and health of residents in the community.
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