Joe Hagan, longtime president and CEO of National Equity Fund (NEF), will be retiring at the end of the year.
He has overseen the organization’s transformation into one of the top low-income housing tax credit (LIHTC) syndicators in the country since joining in 2000. Under his leadership, NEF has closed more than $15 billion in equity, providing close to 177,000 affordable homes for low-income individuals and families, many of which include support services for seniors, homeless veterans, youth aging out of foster care, and the disabled.
“Joe Hagan was one of the pioneers of the LIHTC program and has been an essential part of the growth of the affordable housing industry,” said Ed Sigler, NEF board chairman. “He closed out 2018 with NEF’s strongest year since its inception in 1987, leaving the organization in excellent financial health as well as with a talented management team. On behalf of NEF and its board, I want to express our heartfelt gratitude for Joe’s service. He will be greatly missed.”
Hagan has been a steady force in affordable housing since 1979, when he ran a nonprofit that converted properties into homeownership opportunities in Columbus, Ohio. During his career, he also oversaw the Ohio Housing Finance Agency's multifamily platform when the LIHTC program was just beginning, making him part of a core group of housing leaders to decipher and shape how the new program would work.
In addition, he started the Ohio Capital Corporation for Housing with Hal Keller, who is also retiring from that organization this year.
For his many contributions to the industry, Hagan was inducted into Affordable Housing Finance’s Hall of Fame in 2013.
The NEF board of directors has begun a national search, conducted by Korn Ferry, to identify a successor. During this time, Hagan will continue to lead NEF, an affiliate of the Local Initiatives Support Corp.
Candidates interested in the role or anyone wanting to confidentially recommend a candidate should contact Kate Shattuck at [email protected] and/or Divina Gamble at [email protected]
