The Low Income Investment Fund (LIIF) and National Affordable Housing Trust (NAHT) are members of the newly launched Multifamily Impact Council (MIC) – a nonprofit membership organization dedicated to establishing impact investing principles and data-driven impact reporting frameworks for the multifamily housing industry.
Organized as a 501(c)(6) nonprofit membership organization, MIC will have three primary objectives:
- Establish and maintain impact investing principles and data metrics that are aligned with global Environmental, Social and Governance (ESG) standards, are specific to the multifamily industry, and can be used to guide investing, product development and asset management decisions;
- Build strategic partnerships with existing ESG certification and research organizations to simplify existing certification processes, develop industry-specific tools to help calculate the social return on investment, and quantify the financial benefit of impact initiatives for multifamily investors;
- Serve as an industry clearinghouse for research, best practices and collaboration opportunities that support the growth of multifamily impact investing in the United States.
As leading organizations in the affordable housing sector, LIIF and NAHT have joined MIC as Founding Members. LIIF and NAHT, along with Stewards for Affordable Housing for the Future, formed a joint venture that operates as a nimble alliance committed to raising $1 billion over five years to build and preserve 10,000 affordable homes across the country. LIIF and NAHT will collaborate with leaders from organizations such as Fannie Mae, Freddie Mac Multifamily, Goldman Sachs, Wells Fargo and National Association of Affordable Housing Lenders on ways the affordable housing sector can attract more impact investors.
“As interest in socially motivated debt and equity capital continues to grow, it is essential for the multifamily industry to come together and develop generally accepted principles and reporting frameworks that facilitate the flow of impact capital and support affordable and sustainable housing investments in the United States,” says Antonio Marquez, Managing Partner of Comunidad Partners who will serve as the Chairman of the Board of the new organization. “The Multifamily Impact Council will serve as the collaborative focal point for property owners, investors, lenders and service providers to work together to create transparency, validity, and mutually accepted standards to accomplish this goal.”
Bob Simpson will serve as President and CEO of the Multifamily Impact Council. Simpson, who founded the Impact Advisory Firm, Simpson Impact Strategies, brings more than 25 years of housing finance and public policy experience to the role – including a 20-year stint at Fannie Mae where he oversaw the Affordable Multifamily Business and led the creation of the company’s innovative green and healthy housing lending programs.To learn more about the Multifamily Impact Council and to see a list of founding members, please visit multifamilyimpactcouncil.org.