Great Lakes Capital Fund is teaming with a unique partner—the United Athletes Foundation (UAF)—to create a $100 million housing tax credit equity fund.
UAF is a nonprofit created in 2008 by a group of professional athletes. To date, there are more than 100 sports stars associated with the foundation. Its board of directors and advisers include Reggie Howard, Ray Lewis, Hank Aaron, and Julius Erving.
UAF provides financial literacy education to its members and people in communities across the country. The partnership with Great Lakes Capital Fund allows the foundation to expand its efforts into affordable housing and community redevelopment.
The foundation's role in the new fund includes helping market the new fund to corporate sponsors and potential investors.
Great Lakes Capital Fund, a longtime low-income housing tax credit syndicator, will underwrite and manage the fund.
Baker Tilly, an accounting and advisory firm that is experienced in affordable housing, is also collaborating in the new fund.