PHILADELPHIA ACCELERATOR FUND
The Philadelphia Accelerator Fund (PAF) is a new investment vehicle to enable non-traditional financing products that support affordable housing and community development in the city of Philadelphia.
PAF was established as a nonprofit corporation with a Board of Directors comprised of both public- and private-sector individuals. PAF will offer products tailored to market needs to fill funding gaps for projects that promote social impact and equitable neighborhood growth. The fund is planned to start making investments in Summer 2021.
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Goals of PAF Investments
PAF seeks to increase opportunities for:
- Minority-owned and women-owned developers
- Nonprofit developers
- Smaller-scale developers
- Projects with deep affordability and/or permanent affordability
- Projects that provide affordability with minimal public subsidy
Offerings + Differentiators
Products to Empower Impactful Projects
Flexible Terms and Underwriting
Mission-Based Focus
Initial
Capitalization:
Blending
Sources to
Open New
Doors
Opportunity
to Invest
with Impact
Ex-Officio Directors
Anne Fadullon
Director, Philadelphia Department of Planning & Development
Karen Fegely,
Deputy Director, Philadelphia Department of Commerce
Designated representative of Philadelphia Commerce Director
Matthew Stitt
Director, Management and Budget Consulting, PFM
Designated representative of Philadelphia City Council President
David Thomas
President, Philadelphia Housing Development Corporation
Jennifer Lucas Crowther
Vice President of Product and Resource Development, PIDC
Designated representative of President of PIDC
Directors
Executive Director: Gregory Heller
Executive Director, Philadelphia Accelerator Fund
Vidhi Anderson
Director of Housing, HumanGood
Paul Badger
President & CEO, The Badger Group
Dr. Jennifer Bellot (Secretary)
Associate Dean of Academic-Practice Integration, Jefferson College of Nursing
Dana Brown
EVP Consumer Bank, Univest Bank and Trust Co.
Kafi Lindsay (Vice Chair)
Regional Community Development Manager, TD Bank
Charles Lomax (Treasurer)
Chairman & CEO, Lomax Real Estate Partners
Suzanne S. Mayes, Esq.
Co-Chair, Public & Project Finance, Cozen O’Connor
Mo Rushdy (Chair)
Managing Partner, The Riverwards Group