Urban Development Fund’s mission is to provide loans and equity to fund real estate development in the nation’s most disadvantaged communities. Developers and businesses in these highly distressed communities struggle to get any financing at all. Through the use of the NMTC Program, UDF is able to provide financing at rates and terms that are very advantageous to its borrowers.
In fulfilling this mission, UDF has been successful in creating stable employment opportunities and construction jobs for residents of low-income communities, renovating decaying or dilapidated structures, providing much needed goods and services, and spurring economic development in low-income neighborhoods where it is needed most. The philosophy of understanding projects not as just real estate investments but as engines of economic growth and social support for local communities is at the heart of UDF’s mission.