Morgan Stanley and the National Equity Fund are partnering on a $100 million fund that will invest in low-income housing tax credits funding redevelopment projects  in areas ravaged by this spring's inclement weather. The fund will be active from North Dakota to Georgia.
Market dynamics have left many areas of the South and Midwest – especially rural communities – with few LIHTC sources for development, particularly expedited development efforts, Hagan explained. “The Low Income Housing Tax Credit is the nation’s most successful affordable housing production program. But it doesn’t work equally everywhere.”