MMA Financial is a leader in the tax credit equity market based on our track record, reputation for service, and size. Our tax credit acquisitions and investment professionals are renowned in the business many have been active in this market since the introduction of the low-income housing tax credit (“LIHTC”) program in 1987.

LIHTC Program Summary

The LIHTC is a federal program that allocates tax credits to each state's Housing Finance Agency (HFA), which in turn follows strict guidelines to allocate the tax credits to the owners of affordable housing. The program also provides tax incentives for investing in affordable rental housing. This program, created within Section 42 of the Internal Revenue Code, allows investors to receive a credit against their federal taxes in exchange for providing funds to build or renovate housing at rents within reach of low-income people.

A syndicator acquires low-income housing tax credits from affordable housing developers by investing equity in their housing developments in exchange for their tax credits. The syndicator transfers the tax credits to partnerships formed to distribute the tax credits to investors. Investors purchase interests in the partnerships and receive the tax benefits of the investment.

MMA Financial raises equity for and invests in approximately 150 affordable multifamily new construction or rehabilitation projects per year. MMA Financial has built long-term relationships with over 250 affordable housing developers — all with a demonstrated record of accomplishment and expertise for building, rehabilitating and managing affordable housing communities that are safe, attractive, financially feasible and of high quality.

• Since 1987, MMA Financial has raised $6.3 billion in equity capital from over 100 corporate investors (this includes its activities through predecessor organizations Boston Financial, Lend Lease and Midland Capital).
• In 2004, MMA Financial was one of only two tax credit syndicators to raise in excess of $1 billion in tax credit equity during the calendar year.

If you are a corporate investor interested in tax credit investing, please contact:

David Robbins
Managing Director
MMA Financial
101 Arch Street
Boston, MA 02110
1-800-782-7890
Email: drobbins@mmafin.com

If you are a current investor and would like to view reports online using our Tax Credit Equity Reporting service, MMAccess, this service is now located in the For Investors Only section.