2017 Symposium Industry Report: Pay for Success

How NHPF Finances Housing

Private-Public Partnerships Contrary to what some might say, we as Americans can overcome our housing challenges. A good place to start is by building strong private-public partnerships. NHPF attributes many of its successful projects to the involvement of one or more partners from the private and public sectors. Working together with other ded- icated and socially responsible organizations, NHPF has been able to use com- mercial bank financing, permanent tax-exempt bonds and Low-Income Housing Tax Credits (LIHTC) to preserve existing buildings as affordable housing. Since 1986, the use of LIHTC nationwide has led to the creation of nearly 2.8 million affordable housing units, guaranteed the need for 96,000 jobs year in and year out, and boosted local economies with approximately $3.5 billion in taxes and other revenues annually. Rental Assistance Demonstration (RAD) An example of this type of partnership can be found through NHPF’s involve- ment in HUD’s Rental Assistance Demonstration (RAD) program. This program allows public housing agencies (PHAs) and owners of other HUD-assisted proper- ties to convert units from their original sources of HUDfinancing to project-based Section 8 contracts. RAD is an effective tool in providing needed funding to repair and refurbish public housing and in some cases, to build new affordable housing. By participating in RAD, The NHP Foundation is providing evidence that the public and private sectors can work together in affordable housing, and that they can also do so incredibly effectively. Looking Ahead Moving forward, private-public partnerships will be essential to providing high-quality affordable housing for low and moderate income individuals, fam- ilies and seniors. The NHP Foundation is actively seeking innovative solutions to affordable housing financing and operations to help future generations of Americans in need. This report and collaboration with the University of Virginia is a product of our “thought leadership” philosophy. Championed by President & CEO Richard F. Burns, thought leadership challenges NHPF and other housing advocates to go beyond providing safe and affordable housing by engaging with critical issues and searching for thoughtful answers and innovative solutions that anticipate, rather than address, critical changes in the affordable housing

8 Pay for Success & Affordable Housing | Stefano Rumi

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