$100 Million Going to Replace Homes, Create Jobs

Business Wire reports that Morgan Stanley is partnering with National Equity Fund (NEF) to establish a program to develop affordable housing and jobs in a 13-state area hit hard by recent storms and flooding.  By using Low Income Housing Tax Credits (LIHTC), the $100 million program can finance new construction or rehabilitation, and replace 1,000 affordable homes and create up to 4,000 jobs.  The fund will be managed by NEF.  “Our goal is to support economic recovery in devastated regions by expediting the rebuilding of housing and creating jobs in those areas most in need,” said Audrey Choi, Managing Director and Head of Global Sustainable Finance at Morgan Stanley.

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