CHICAGO, Sept. 20, 2017 /PRNewswire-USNewswire/ -- National Equity Fund, Inc., a leading syndicator of low-income housing tax credits (LIHTC), today announced the selection of Edward J. Sigler to serve as its new chairman of the board. Sigler's selection follows the resignation of Larry Dale, who joined the board in 1992 and became chairman in 1997.
"For the past 30 years, National Equity Fund has been an innovator and leader in the affordable housing industry. With a solid financial base and experienced management team, it's exceptionally well positioned to respond to an ever-changing environment with products that are solution-driven," commented Sigler. "I look forward to leading this dynamic organization as the challenges and opportunities of the next 30 years are met with enthusiasm and creativity."
"Since joining the board in 2009, Ed's contributions have been invaluable," commented Joe Hagan, president and CEO of National Equity Fund. "I have every confidence that he will meet future challenges with the same passion and wisdom that he has always demonstrated."
Sigler is a retired managing director at JP Morgan Chase Bank where he was head of community development real estate. During his tenure at Chase he oversaw the origination of more than $9 billion in construction and permanent debt to support the development and revitalization of low- and moderate-income communities across the country. He began his banking career in 1976 and 10 years later joined the Chase Manhattan Bank in Tampa, Florida. He holds a bachelor of science degree from the University of Rhode Island and an MBA from the University of South Florida.
About National Equity Fund, Inc.
National Equity Fund, Inc. is a leading syndicator of low-income housing tax credits. The Chicago-based non-profit is an affiliate of the Local Initiatives Support Corporation and has played an integral role in creating affordable housing options, revitalizing communities and strengthening local economies for 30 years. It has invested $13.3 billion in 2,494 LIHTC developments, creating approximately 158,907 affordable homes for low-income families and individuals. For more information, visit www.nefinc.org/.
Contact: Maureen Mullady
SOURCE National Equity Fund