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About
Our Foundation Foundation Profile Created in 1967 and financed by $500,000 donated by local businesses, public and private foundations, the North Carolina Housing Foundation, Inc. (NCHF) is a non-profit housing development organization. Our original mandate was the elimination of substandard housing in Winston-Salem. Our early activities involved rehabilitation and new construction of single-family homes for purchase by low and moderate income families. Over the years, our strategy has evolved into the development and operation of affordable rental housing with particular emphasis on the elderly and persons with physical disabilities. Sources of development financing have included the U. S. Department of HUD, FHA, local governments, the NC Housing Finance Agency, Appalachian Regional Commission, Federal Home Loan Bank, and charitable organizations such as the Kate B. Reynolds Charitable Trust and the Winston-Salem Foundation. Additional financing vehicles utilized by the Foundation include revenue bonds and low-income Housing tax credit investors. The Housing Foundation sponsors and develops properties independently and often in partnership with less experienced non-profit organizations that wish to provide housing for lower income individuals. Forming partnerships with for-profit developers of affordable housing is another means through which the Housing Foundation works to achieve its mission. Board of Directors Much of the Housing Foundation's success is due to its dedicated volunteer Board of Directors. The members of the Board of Directors are well qualified to take an active role in the selection and development of projects and in making the major business decisions of the Foundation. Board members represent an aggregate of many years' experience in housing as mortgage bankers, attorneys, developers, city officials, and community leaders, who are recognized housing advocates. The Board of NCHF continues to be dedicated to the provision of housing to a growing segment of the population that falls under the federal definition of "low-income", and encourage the inventory of housing available to this population. NCHF continues to seek additional opportunities for development, both individually and in partnership, with other organizations. NCHF's Board of Directors consist of the following individuals:
Frank Celestino, M.D. |
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