OVERVIEW
Our Housing Tax Credit program provides equity financing for affordable housing and community development projects that use federal and state low-income housing tax credits (LIHTC), federal and state historic tax credits (HTC), and other associated tax credits including federal energy tax credits (ETC).
Since its inception in 1990, our Housing Tax Credit program has financed the creation or preservation of homes in communities throughout New England, including Massachusetts, Rhode Island, and Connecticut. This program plays a crucial role in financing projects that would not be feasible through traditional funding methods, significantly contributing to the development and preservation of affordable housing in the region.
Impact
Since 1990, MHIC’s Housing Tax Credit program has provided:
EQUITY FINANCING
Our Housing Tax Credit program delivers equity financing for affordable housing and community development through federal and state low-income housing and historic tax credits. We support new construction, rehabilitation, and historic preservation projects that strengthen communities and expand access to housing.
Carter School Apartments revitalized a historic school building in Leominster to create 39 family rental apartments with $9.2M in Low-Income Housing and Historic Tax Credits.
25 Sixth Street is a redeveloped site adjacent to the MBTA Silver Line Station to offer 56 new mixed-income rental homes with $11 million from State and Low-Income Housing Tax Credits.
Anchor Point is a phased development featuring 77 units of family rental housing in two new buildings and a community service and education center, using $8M in Low-Income Housing Tax Credits.
Meet Our Experts
Carrie joined MHIC in May 2021. She is responsible for underwriting loan and equity products across MHIC’s various lending and investment entities. Prior to joining MHIC, Carrie worked at the Massachusetts Department of Housing and Community Development where she was responsible for underwriting and managing loan closings for LIHTC and other affordable housing projects. Prior to her work at DHCD, Carrie held various roles at non-profit community development corporations in Boston and as a project manager at the New York City Housing Development Corporation.
Francine Lyons is a seasoned financial services professional with more than 25 years of experience in tax credit investing and affordable housing finance. She joins as Director – Equity, bringing deep expertise in structuring and executing complex transactions. Most recently, Francine served as a Director at Santander Bank, where she led the origination and execution of affordable housing investments, closing more than $1 billion in LIHTC equity and construction financing transactions. Prior to Santander, she held senior roles at Carlisle Tax Credit Advisors and spent over two decades at State Street, building a strong track record across the financial services sector. Francine’s extensive experience and strategic perspective strengthen the team’s ability to deliver impactful investment solutions in the affordable housing space.
MEET OUR EXPERTS
Carrie joined MHIC in May 2021. She is responsible for underwriting loan and equity products across MHIC’s various lending and investment entities. Prior to joining MHIC, Carrie worked at the Massachusetts Department of Housing and Community Development where she was responsible for underwriting and managing loan closings for LIHTC and other affordable housing projects. Prior to her work at DHCD, Carrie held various roles at non-profit community development corporations in Boston and as a project manager at the New York City Housing Development Corporation.
Francine Lyons is a seasoned financial services professional with more than 25 years of experience in tax credit investing and affordable housing finance. She joins as Director – Equity, bringing deep expertise in structuring and executing complex transactions. Most recently, Francine served as a Director at Santander Bank, where she led the origination and execution of affordable housing investments, closing more than $1 billion in LIHTC equity and construction financing transactions. Prior to Santander, she held senior roles at Carlisle Tax Credit Advisors and spent over two decades at State Street, building a strong track record across the financial services sector. Francine’s extensive experience and strategic perspective strengthen the team’s ability to deliver impactful investment solutions in the affordable housing space.