NeighborWorks Capital recently closed a $831,000 permanent loan to Neighborhood Development Services (NDS) for Ashtabula Homes II, a 40-home scattered site rental development in Ashtabula, OH. Developed in 2005, the forty homes were intended to be sold to the tenants after 15 years, but most LIHTC-financed single-family developments remain long-term rentals. NDS needed to refinancing the original perm lenders from the LIHTC financing, and NC provided a 15-year, fully-amortizing loan.
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.
