NHPF Affordable Housing Blueprint

The NHP Foundation: Affordable Housing Blueprint

RASMUS-TEMENOS, HOUSTON, TEXAS

Building Integrity and Financial Security Into All of Our Transactions

The birth of modern affordable housing policy occurred when President Lyndon Johnson signed the Housing and Urban Development Act of 1968, calling for public- private partnerships as a way to fund housing. He didn’t use the term “institutional investing” or “impact investing” or any of the current buzzwords that we use today. He simply saw the power, value, and duty of private industry to join with government to “strengthen our economy and offer opportunity to those in need.” Not-for-profit and for-profit providers of affordable housing benefited from the President’s call, as well as later legislation via the Low-Income Housing Tax Credit (LIHTC) program. LIHTC, created in 1986, is the nation’s most productive affordable housing tool, allowing corporations to receive returns on capital derived from federal tax credits, which offset federal income tax liability. THE NHPF ORIGIN STORY BEGINS WITH our founding in 1989. Since that time, NHPF has realized extraordinary achievements in the preservation and creation of value-added affordable multifamily housing. As a not-for-profit organization, NHPF operates with a charitable mission and business-like financial discipline that ensures smart, safe investment. NHPF’s success for the last 30+ years is owed to early institutional investors who saw the potential of this asset class to produce worthy returns, both financially and socially. Those initial investments from pioneering companies totaled $3M that NHPF has leveraged for the preservation of over 100 properties.

Our History of Success

17 MISSISSIPPI, WASHINGTON, DC

Fearlessly Reinventing NHPF and Bringing About Remarkable Transformation NHPF CEO Richard F. Burns has leveraged his years of financial investment prowess to do things differently—and successfully—to continuously guide NHPF to where we are today, an industry leader consistently surpassing expectations while living up to our Mission Statement : The NHP Foundation is a not-for-profit real estate organization dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. To that end, NHPF combines proven investment techniques with an infusion of entrepreneurial spirit resulting in the organization securing nearly $400M in LIHTC equity. This same balance helps foster valued partnerships with multiple financial institutions, municipalities, elected officials, and other investors to realize nearly 20,000 affordable apartment and single-family rental homes made available to families and seniors in need. We are most proud of NHPF’s relationships at every level of the funding equation, enabling us to successfully obtain the essentials of affordable transactions including LIHTC investment (both 4% and scarce 9% credits), grants, subsidies, housing vouchers, and loans.

Today, NHPF is a Recognized Pioneer Expanding our portfolio across the country to include a robust presence in Colorado, Connecticut, District of Columbia, Florida, Illinois, Louisiana, Maryland, Massachusetts, Missouri, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia and ensuring our Vision Statement is a reality: A future where communities flourish because attractive, sustainable housing options and life-enhancing services are ensured for income- challenged Americans. NHPF stays on the cutting edge of all available affordable housing options via the preservation, rehabilitation, and ground-up construction of: • Traditional multifamily housing • Scatter-site single family home rentals • Faith-based housing opportunities • TOPA (Tenant Opportunity to Purchase Act) • Large Scale Preservation Deals • P RAC (Project Rental Assistance Contracts) Type of Senior Properties • PSH (Permanent Supportive Housing) • R AD (Rental Assistance Demonstration) for Single-family Rental Homes • SRO (Single Room Occupancy) Dwellings

Our Experience

CITADEL ON ELGIN, HOUSTON, TEXAS

Making an Impact by Investing in the Lives of Families and Seniors We know that when stable, affordable, service- enriched housing is brought within reach of families and seniors, peoples’ lives improve and they are better equipped to redefine what is possible. NHPF expands life-changing opportunities for residents via its resident services subsidiary Operation Pathways, its own 501(c) (3) not-for-profit corporation. Each year thousands of residents take part in Operation Pathways’ nationally recognized resident services programming.

•  Depth & Breadth of Experience: Our Acquisition, Asset Management, Construction, Development, and Redevelopment divisions feature diverse multi-generational expertise: team members with legal, investment, municipal, and other relevant experience with a wide variety of skills and practical knowledge well-situated to tackle deals plagued by previous failure, niche projects, and those requiring tremendous financial finesse. •  Construction Value: NHPF’s in-house construction management team provides bespoke expertise on every project. This knowledgeable and experienced team finds economies of scale, resource, and cost- savings, adding tremendous benefits to partnered projects. This value-add provides our organization with the advantage of subject matter experts committed to turn-key construction process on every project. •  The Affiliate Program: Our work with faith-based organizations, other affordable housing developer/ owners, housing authorities, tenant associations, and municipal and community organizations combines NHPF’s resources, manpower, expertise, and financial acumen to renovate existing assets or develop new properties.

NHPF: Ensuring Even Your Most Complicated Deal is a Success

NHPF has earned a reputation for jumping into many transactions other developers shy away from; unearthing funding sources and additional resources to complete quality projects on time and on budget. Our experienced developers seek out challenging ventures and are willing to go the extra mile to make an affordable housing opportunity work.

How We Can Work With You

Trustees

Ralph F. Boyd, Jr. Chair Glynna K. Christian Vice Chair Robert H. Abrams Richard F. Burns Sarah E. Feinberg Cherie Santos-Wuest Sheldon L. Schreiberg

Partner with Us to Create a Future Filled with Safe, Affordable, Accessible Housing

As we continue to enter new markets, offer new types of housing and seek creative new sources of funding, NHPF operates from lessons learned. These lessons began with NHPF’s Values Statement NHPF seeks to promote greater diversity, inclusion, racial equity, and social justice in addition to its long-established mission of providing sustainable, service-enriched affordable housing. NHPF is committed to increasing access to opportunities for historically underrepresented individuals and businesses in the development and operation of affordable housing communities. Today we incorporate lessons learned into different approaches designed to arm our teams with cutting edge tools to design sustainable, resilient housing options for those in need. •  Staff Mentorship Program: Created in 2021 as a result of The NHP Foundation’s many DEI (Diversity, Equity, and Inclusion) initiatives, including senior management working with over 20 employees in this multidisciplinary program which fosters professional development, leadership training, and staff cohesion by pairing junior and senior NHPF employees together. These mentorship pairs set internal goals for how they define success and specific ways in which they want to grow within the organization. •  Unparalleled Dedication to Thought Leadership: NHPF is at the forefront of research, expert opinion, and industry knowledge best exemplified by our award- winning annual Symposium launched in 2017. The event awards elected officials and others making an impact in the industry and tackles the overarching issues affecting the affordable housing ecosphere. It has drawn thousands of attendees and many esteemed speakers including elected officials, bestselling authors, and leaders in advocacy and academics.

Charu Singh Grace Torres Adam Weers Leadership

Richard F. Burns Chief Executive Officer Eric W. Price President Stephen M. Green Executive Vice President & Chief Investment Officer Senior Management Mansur Abdul-Malik Senior Vice President Mecky Adnani Senior Vice President Scott L. Barkan Senior Vice President Neal T. Drobenare Senior Vice President Alla A. Eleon Chief Accounting Officer & Treasurer Carlos A. Gonzales Senior Vice President Fred C. Mitchell Senior Vice President Thomas G. Vaccaro Senior Vice President & Secretary John M. Welsh Senior Vice President Joseph P. Wiedorfer Senior Vice President & Assistant Secretary

Let’s Work Together to Build Integrity and Financial Security into Every Housing Transaction

Presenting important information and key decision-making data is part of our unwavering commitment to those we work with today and those we hope to work with tomorrow. To learn more, please scan here:

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