MASSACHUSETTS HOUSING INVESTMENT CORPORATION
Massachusetts Housing Investment Corporation (MHIC) pioneered attracting investor capital for LIHTC tax credit properties in New England, and developed a loan pool for construction and acquisition lending. Since 1990, MHIC has financed $2.16 billion in lending for preservation or creation of more than 19,000 housing units and four million square feet of commercial space. Approximately 17% of its lending is in rural areas. In 2000, MHIC’s product lines expanded to include the New Markets Tax Credit (NMTC) Program, and again in 2008 with the Neighborhood Stabilization Loan Fund to address the mortgage foreclosure crisis. To-date, MHIC has raised more than $2.19 billion from more than 106 institutional investors to support its LIHTC activities in Massachusetts, Rhode Island and Connecticut, and its NMTC activities throughout New England.