NeighborWorks Capital funded a $2,356,000 acquisition loan with Ithaca Neighborhood Housing Services, Inc. (INHS) in March 2020. This acquisition loan provided them with the funds to acquire six buildings (Verona Village) in Ovid, New York. Verona Village is a fully leased 46 apartment unit senior housing project with a HAP contract that covers all housing units. INHS plans to renovate the well-maintained 38-year-old buildings, utilizing 9% Fed and State LIHTC with construction expected to begin in 2022 after securing a LIHTC award.
Chief of Consulting
The Chief of Consulting (CC) is a member of the senior management team and has overall responsibility for the startup and buildout of a consulting business focused on the affordable housing and community development industry. The CC will need to be an entrepreneur at heart but also be able to work as part of a team. The CC is a critical strategic partner for the Chief Executive Officer (CEO) and will report directly to the CEO.