• Establishing the Affiliates Program In 2014 NHPF added over 400 housing units to its portfolio through the growing Affiliates Program, an initiative essential to the growth of our affordable housing portfolio. Created in 2011, the Affiliate Program partners with mission-aligned affordable housing developers/owners, housing authorities, tenant associations, and other municipal and community organizations who lack the resources, manpower, expertise and/or financial statement to renovate existing assets or develop new properties. Upon joining the Affiliates Program, affordable housing providers can look to NHPF for an infusion of capacity-building resources in the areas of financing, development, asset management, resident services and fundraising support. With NHPF, Affiliates gain a strong financial partner and the expertise needed to support, and in many cases grow, their operations. • Expanding our Redevelopment Efforts NHPF has redeveloped more than $250 million of affordable housing in the past few years, producing excellent results for residents and substantial development fees and goodwill for NHPF. • Identifying New Alliances and Capital Partners These alliances include good work being done with the National Housing Preservation Fund jointly sponsored by NHPF and Urban Atlantic, a $50 million equity fund, and the Housing Partnership Equity Trust, an $80 million REIT formed by NHPF and 11 other nonprofits for the acquisition and
preservation of affordable housing. • Improving Portfolio Performance
Occupancy and cash flow continue to be strong, and careful attention to each of our assets has achieved excellent results in the overall portfolio performance.
NHPF F I SCAL YEAR 20 1 4 ANNUAL REPORT
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