Ndc Housing and Economic Development Corporation

“National council for community development is the sole voting member of ndc housing & economic development corporation.”

“National council for community development as the sole voting member of ndc housing & economic development corporation has the power to elect and remove directors.”

“The form 990 was prepared by outside tax preparers in consultation with management and auditors. A draft of the full form 990 was provided to the entire board for review. A complete copy of the final form 990 was provided to the organization's entire board before it was filed with the irs.”

“All members of the hedc board of directors and executive employees are required to annually execute a conflict of interest policy and compensation guidelines acknowledgement stating that they have received, read and understand, and agree to comply with the conflict of interest policy and compensation guidelines. The conflict of interest policy and compensation guidelines document requires board members and executive employees to disclose any potential conflicts of interest immediately. The chairperson of the board will upon notification of such an event appoint a disinterested person or committee to investigate alternatives to the proposed transaction and violations of the conflict of interest policy can result in appropriate disciplinary and corrective action. Also, all board members by executing the conflict of interest policy and compensation guidelines document acknowledge that they share the responsibility of hedc to remain faithful to the organization's charitable purposes.”

“The documents are available by request.”

“All of the organization's board members work for the parent organization national council for community development. The independent board of directors of the parent oversees the organization's operations and actions.”

“C. To initiate and carry out activities to stimulate economic development in economically depressed areas of the us. In particular, to undertake activities that: - relieve poverty and lessen neighborhood tension caused by a lack of jobs in deteriorated and depressed areas by providing training opportunities for the unemployed and creating job opportunities for disadvantaged groups. - combat community deterioration and eliminate blight by undertaking activities that stimulate the establishment of new businesses among disadvantaged groups and which rehabilitate and revive existing businesses operated by disadvantaged groups.”

“In 2022, through our low-income housing development and investment activities, hedc through its affiliates, the ndc corporate equity funds, invested more than $121 million in 16 projects containing 1,110 units of quality, safe, adequate, and affordable housing for low-income persons and families, the elderly, and people with special needs. The following are representative samples of hedc affordable housing projects completed in 2022: sidney village sidney, ohio sidney village is an existing family rental project that consists of thirty-four (34) units in six buildings. The property includes one, two, three and four bedroom units and will be rented to family households whose income does not exceed 50% of the area median income. The property renovation will include improvements to site and building design, mechanical and electrical systems and building components including exterior, interior and life safety items. Unit renovations will include new kitchen and bathroom cabinets, kitchen appliances, new flooring in bedrooms and painting all units. Applewood apartments proctorville, ohio applewood apartments will be the new construction of fifty (50) affordable apartments units. The units will be targeting households with incomes between 30% and 60% of the area median income and will include one, two, and three bedroom family units. The project will offer a stacked townhomesoverflats design, a unique product type for this market that combines the efficiency of a multifamily building with the attractiveness of a private entrance to each unit. Residents of the 20 groundfloor units will have private patios. Upperlevel units, a mix of one and twobedrooms, will have individual entrances on the ground level that lead to stairs up to the main living area. The property will include amenities such as on-sight management, activity room, access to childcare, and other social services. Murray on main apartments willimantic, ct murray on main will be the substantial renovation of a three story historic building in downtown willimantic, ct into 16 lihtc units comprised of studio, one and two bedroom units. The building will also include 1,500 square feet of future commercial space. The lihtc units will be targeting households with incomes between 50% and 60% of the area median income.”

“Other consultants: program service expenses 120,249. Management and general expenses 20,624. Fundraising expenses 0. Total expenses 140,873. Third party closing fees: program service expenses 1,122,785. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,122,785.”

“The amounts reported on lines 7-9 related to expenses paid by the parent company (national council for community development ein 13-6532871) and allocated to the organization.”