Fall Developers Forum (2018)
David M. Abromowitz
David M. Abromowitz
David M. Abromowitz is a leader of the affordable housing practice at the law firm Goulston & Storrs PC, where he most recently co-chaired the firm’s real estate group. He is a Chair and board member of the National Housing & Rehabilitation Association, a co-founder of the Council for Energy Friendly Affordable Housing, and a past chair and founding member of both the Lawyers’ Clearinghouse on Affordable Housing and Homelessness, and the American Bar Association’s Forum Committee on Affordable Housing and Community Development. Charitable boards he serves on include The Equity Trust, and B’nai B’rith New England, and until recently he was a long-time board member of YouthBuild USA, where he now serves as Chief Public Policy Officer.
In January 2008, while serving as a Senior Fellow at the Center for American Progress David wrote the “A Great American Dream Neighborhood Stabilization Fund” proposal, the basis for the Neighborhood Stabilization Program enacted by Congress later in 2008, which has funded nearly $7 billion for communities hard hit by foreclosures. Mr. Abromowitz co-chaired the Housing Policy Working Group of then Governor-elect Deval Patrick (D-MA), and served on the housing advisory task forces of former Boston Mayor Thomas Menino, and current Boston Mayor Marty Walsh.
Matt Barcello is a Senior Manager with the National Real Estate Consulting practice of CohnReznick where he provides real estate due diligence and transaction services. Mr. Barcello advises clients on low-income housing tax credit underwriting, allocation and due diligence services. Matt’s experience in connection with the low income housing tax credits primarily includes conducting due diligence and providing other advisory services on behalf of institutional investors and syndicators. While at CohnReznick Matt has authored numerous reports that analyze the performance of Low Income Housing Tax Credit properties, and recently launched an online tool allowing users to navigate the data geographically.
Anne Berman serves as Assistant Director of Development for Rhode Island Housing. The Development Division is responsible for analyzing, underwriting and closing development proposals for all multi-family affordable and market rate housing transactions. Using housing tax credits as well as both taxable and tax exempt financing, the group undertakes new construction, housing preservation, loan restructuring and workouts as well as a wide array of other development activities. In her current position, Anne has overseen the financing of more than 12,000 units of housing at a total development cost in excess of $1.4 Billion. Prior to joining Rhode Island Housing, Anne worked with non-profit organizations in Rhode Island and Florida engaged in affordable housing development and neighborhood revitalization. Anne has a BA in Urban Studies from Connecticut College and is a graduate of the Advanced Management Development Program in Real Estate at the Harvard GSD.
Jerome A. Breed
Jerome A. Breed
Jerry Breed focuses his practice on tax planning and the structuring of low-income housing tax credit, historic rehabilitation tax credit, new markets tax credit and renewable energy transactions.
Mr. Breed has closed many low-income housing, historic rehabilitation, new markets tax credit and renewable energy transactions that permit his clients to maximize tax benefits and investment returns, all within the framework of the client's business goals. He has substantial experience in the taxation of community development and new markets credit investments. Mr. Breed also has represented clients with respect to audits of tax credit investments.
Clients of Mr. Breed include syndicators and investors in low-income housing, historic rehabilitation, new markets tax credit and renewable energy transactions as well as developers of these credit projects. In the New Markets Tax Credits area, Mr. Breed represents the owners of qualified active low-income community businesses and community development entities. Mr. Breed also represents state housing authorities that allocate low-income housing tax credits. Frequently, these federal credits include state credits and other federal, state and local subsidies.
Mr. Breed has given presentations at numerous seminars and conferences on the low-income housing, historic rehabilitation, new markets tax credits and renewable energy credits including presentations on partnership taxation, and real estate tax issues. He also is author of a number of articles on tax credits and other federal income tax matters.
Daniel Brennan became MaineHousing’s Director on April 9, 2018. Mr. Brennan has served in a number of senior staff positions since 1993, including as Senior Director of Programs, Director of Energy & Housing Services, Director of Development, Director of Asset Management, and Internal Auditor. Prior to joining MaineHousing, Mr. Brennan was employed as an internal auditor for Maine National Bank and RECOLL Management Corporation and shortly after joining MaineHousing, he earned the Certified Internal Auditor designation. Mr. Brennan received his B.A. from the University of Maine, Orono and his M.B.A. from Thomas College.
Laura E. Burns
Laura E. Burns
Laura E. Burns has 31 years’ experience in the affordable housing development business. She is a nationally recognized expert in the affordable housing finance business. As CEO and a founding Partner of the Eagle Point Companies, Ms. Burns has acquired and renovated affordable housing properties and raised and invested private equity in existing housing across the country. In addition, Ms. Burns directed the strategic startup of Eagle Point’s property management division which now oversees over 5,000 apartments. She continues to oversee the 20 year old consulting division – The Signal Group – whose clients include federal agencies and private sector owners, lenders and managers. Ms. Burns continues to be actively engaged in acquiring additional assets and ensuring that all new acquisitions and Eagle Point’s existing portfolio perform at the highest possible levels.
Ms. Burns worked at the Boston Redevelopment Authority (BRA) from 1985 until 1992 where she coordinated neighborhood development projects using low income housing tax credits. From 1992 to 1995, she assisted in the set-up of a nationwide asset management company, based in Portland, Maine, that liquidated affordable housing under contract to the Resolution Trust Corporation (a federal agency) and was subsequently named Chief Operating Officer of its affiliated development company.
Ms. Burns serves on the Board of the National Leased Housing Association, the Editorial Advisory Board of Affordable Housing Finance and is a frequent speaker at the national industry conferences. Her role in helping to develop housing policy includes testifying before the U.S. House Committee on Financial Services and participating in policy development working groups with HUD/GSE’s and Treasury. Ms. Burns has a BA degree from Lehigh University.
Lawrence H. Curtis
Lawrence H. Curtis
Lawrence H. Curtis, the President and Managing Partner of WinnDevelopment and member of the Board of Directors of WinnCompanies, has led a full range of real estate development and acquisition activities for more than 29 years. He has been instrumental in helping the company grow from 3,000-units in 1986 to more than 92,000-units, which Winn currently has under management in 23 states.
Mr. Curtis’ primary focus has been on the creation of affordable housing, mixed income housing and historic rehabilitation developments. Under his leadership, WinnDevelopment has transformed historic properties and rehabilitated thousands of units of housing valued at $500 million.
Peter Daly has been involved in community development since 1979, first at a CDC running a Home Improvement Program and then a first-time homebuyer program, both for lower income households. He then became the initial program coordinator for CNAHS when it started in 1983, creating and operating a program that secured conventional rehab loans for rent controlled properties in Cambridge. Five years later he became the Executive Director of HRI/CNAHS. He has led the effort to expand the rental portfolio from 17 to over 1450 apartments plus over 60,000 sf of commercial space. These projects include new construction, rehab and 40T expiring use developments, all with a strong green overlay and robust resident service programs. He also serves on multiple boards and committees at the local, state and national levels.
Rob Dapice is the Director of Housing Development at New Hampshire Housing Finance Authority, and has been with NHHFA for five years. As leader of the development group, Dapice oversees the financing of 15 to 20 multifamily housing projects each year, resulting in the creation or preservation of approximately 750 housing units. Prior to that, Dapice was a project manager and estimator working on commercial and multi-family construction. A former board member and president of Plan New Hampshire, Dapice has a bachelor's degree from Dartmouth College and an MBA from the University of New Hampshire.
David A. Davenport
David A. Davenport
David Davenport is a Shareholder with the law firm of Winthrop & Weinstine, P.A., which is located in Minneapolis. David represents real estate developers, non-profit organizations, and housing authorities who own general partner or managing member interests in low-income housing tax credit (“LIHTC”) partnerships. David’s practice is acutely focused on helping his clients navigate complicated exit strategies, year-15 related issues, and problematic disputes with investor limited partners or members that have become far more common in the LIHTC industry in recent years.
Thomas R Davis
Thomas R Davis
Tom Davis is the Director of the Office of Recapitalization, within HUD’s Office of Multifamily Housing Programs. The Office of Recapitalization oversees the Rental Assistance Demonstration (RAD) program, the Mark to Market (M2M) program, the Post-Mark to Market program (PM2M), the Senior Preservation Rental Assistance Contracts (SPRAC) program and other housing preservation programs as needed. In 2017, Tom and the RAD Team were selected as a finalist for the prestigious Samuel J. Heyman Service to America Medals (“Sammies”) in the Management Excellence category. Tom joined HUD in June 2015.
Immediately prior to joining HUD, Tom was Senior Vice President of Recap Real Estate Advisors, a Boston-based affordable housing consulting firm, where he led the firm’s affordable housing consulting practice. At Recap, Tom’s work on behalf of public, private and non-profit clients included structuring and project managing recapitalization transactions and strategic business planning with a focus on HUD’s RAD Program. Examples of his business strategy engagements include the development of a model to use “social impact bonds” to finance service enriched housing for elders, design of a credit enhancement product to benefit public housing authorities seeking to participate in the low income housing tax credit (LIHTC) market and development of a pilot program to reduce LIHTC transaction costs for small properties.
Tom began his career in private practice as an attorney at Morrison & Foerster, specializing in affordable housing, LIHTC, real estate and environmental issues. He subsequently joined The Community Builders, Inc., managing large multi-phase HOPE VI neighborhood revitalization efforts and spearheading a strategic redesign of The Community Builders’ resident services and economic development programs. Subsequent to The Community Builders, Tom joined Preservation of Affordable Housing, Inc. (POAH) where he built the organization’s asset management systems to appropriately steward a multi-jurisdiction real estate portfolio.
Throughout his career, Tom has integrated his experience in transactional legal work, development project management, affordable housing finance, asset management, resident services and property operations in an effort to maximize the value of affordable housing – as homes and as a platform from which to offer resources which families can access to achieve their own success.
Tom has served as Chair of the Board of Directors of Urban Edge Housing Corporation and served on the Board of the Boston Public Market Association. He received his undergraduate degree from Brown University, his Masters in Public Affairs from the Woodrow Wilson School at Princeton University and his JD from the New York University School of Law.
Kristin A. DeKuiper is a transactional attorney with broad experience in structuring partnerships, limited liability companies and joint ventures and with the tax and structuring issues that arise in tax credit transactions. She represents developers, community development entities (CDEs), investors and lenders in transactions nationwide involving low-income housing tax credits, historic tax credits and new markets tax credits. Project types include commercial and residential real estate, assisted living projects, healthcare centers, schools, performing art centers and other community facilities.
In addition, Ms. DeKuiper has significant experience in tax and business issues related to limited liability companies. She was a principal draftsperson of Rhode Island’s LLC statute and the regulations for Rhode Island’s first state historic tax credit program.
Jesse Elton is Director of Finance at The Community Builders (TCB), a leading nonprofit real estate developer. In this role, she leads TCB’s Development Finance team in structuring affordable, mixed-income, and mixed-use developments that build and sustain strong communities within TCB’s fourteen state footprint. Jesse brings fourteen years of experience in affordable housing finance and development. She began her career in development at nonprofit housing developer BRIDGE Housing Corporation in San Francisco, and later worked at Local Initiatives Support Corporation as a national housing lender and technical assistance provider.
Mr. Engler has worked in public finance and affordable housing finance for 13 years. As a member of Wells Fargo’s Housing Public Finance Group he works on a wide variety of affordable housing financings for state HFAs, developers, and GSEs. Previously Mr. Engler worked in public finance banking with Barclays, City Securities, and UBS. During his career, Mr. Engler has senior managed numerous single-family and multi-family bond transactions, including for issuers in Massachusetts, Maine, Michigan, Minnesota, Florida, Pennsylvania, California, District of Columbia, New York State, and New York City. Additionally, Mr. Engler has both invested in low-income housing tax credit (LIHTC) properties for the insurance company Unum and raised equity from institutional investors in syndicated LIHTC funds at Meridian Investments, where he served as the C.O.O. Mr. Engler holds a B.A in Physics from Bowdoin College, an M.A. in Economics from Tufts University, and an M.B.A. in finance from the Yale School of Management.
Joe Erdelyi is Director of Development for the Vermont Housing Finance Agency. Prior to joining the Agency in 1993, he was a Housing Planner / Analyst, and later a Development Officer, for the New Hampshire Housing Finance Authority. He has a Bachelor’s degree in Business Administration from the University of Vermont and has completed the National Council of State Housing Agency’s Executive Development Seminar at the University of Notre Dame. He is also certified as a Housing Development Finance Professional by the National Development Council.
John W. Gahan III
John W. Gahan III
For over 35 years, John has concentrated his practice in the development of real estate projects. While his clients have come from a broad range of diverse industries, most of John’s day-to-day representation involves housing. John’s clients have built, owned and/or managed hundreds of thousands of multi-family housing units, including housing for the men and women who serve in our armed forces. John has extensive experience in complicated financing structures including syndication of State and Federal Low Income Housing Tax Credits, State and Federal Historic Credits, New Market Tax Credits, Brownfields Credits, energy-related credits and other state credits.
Working with owners, lenders investors, industry groups, as well as municipal, state, federal, governmental and regulatory agencies to obtain approvals and support for proposed developments, John’s skills and experience have earned him the reputation as a lawyer who “gets the deal done.”
John currently serves on the Board of Directors of Preservation Massachusetts and the National Housing & Rehabilitation Association (NH&RA). He assisted in drafting laws and regulations dealing with affordable housing properties to better facilitate the advancement of his clients’ projects, including the preservation law, enacted in 2009, in the Commonwealth of Massachusetts (Chapter 40T – An Act Preserving Publicly-Assisted Affordable Housing). John continues to serve on the advisory committee which provides advice and recommendations relative to the implementation of Chapter 40T. He also serves, or has served, on the boards of a number of local community banks, hospitals and other social organizations.
Sarah Garland is Director of Affordable Housing Debt and Structured Finance for CBRE Affordable Housing, responsible for supporting origination of affordable and workforce housing debt financing. She leads a company initiative to leverage CBRE’s broad originations platform with CBRE Affordable Housing’s deep expertise in the regulated multifamily finance market.
Prior to joining CBRE, Sarah was Senior Vice President for PNC Bank, overseeing FHA Production as well as Fannie Mae and Freddie Mac Affordable Multifamily Production. Sarah has also served as Fannie Mae’s National Director of Multifamily Affordable Housing and was responsible for the production and management of all multifamily affordable products
Sarah is a foremost industry specialist in affordable housing finance, and has proved to be a resource for many industry organizations and publications. She was formerly chair of the MBA FHA Committee and Vice-Chair of the MBA Multifamily Steering Committee. She participated in both the Low-Income Housing Task Force and the Workforce Housing Task Force. Sarah holds a bachelor’s degree in Political Science and International Relations from University of California, Los Angeles.
Charles Karimbakas is an accomplished senior public finance professional with extensive success in structuring and issuing municipal debt in the housing and transportation sectors. He has a record of collaborative relationships with investors, ratings agencies, underwriters, attorneys, and organizational decision-makers.
At MassHousing, Mr. Karimbakas has managed more than $1 billion of issuance annually through multiple indentures, complex tax analysis and often challenging financial environments, including a significant restructuring of the Agency’s debt portfolio during the 2008 financial crisis, without interruption to capital markets access. Prior to joining MassHousing, Mr. Karimbakas held senior finance roles in transportation within the Commonwealth. He earned B.A. in Economics from the University of Vermont and an MBA from Northeastern University.
Karl Kilduff has served as the Executive Director for the Connecticut Housing Finance Authority since 2015. Mr. Kilduff provides executive leadership in the development and administration of all of CHFA’s programs and policies. He oversees annual investments of approximately $1 billion, including Federal Housing Tax Credits and bond financed mortgage loans.
He also serves as a member of the HOME Connecticut Steering Committee to guide a statewide, multiple-stakeholder campaign aimed at increasing the stock of affordable housing in the State.
Prior to joining CHFA, Mr. Kilduff had a 20 year career in local government management in Connecticut and Pennsylvania for communities that ranged from a financial-distressed center city to a suburban, bedroom-community – all of which faced their unique challenges in diversifying their housing affordability.
Mr. Kilduff is a native of Connecticut and a Graduate from Syracuse University’s Maxwell School with a dual degree in Political Science and International Relations and received a master’s degree in Public Administration from the University of Connecticut.
Allison H. Kunis serves as Executive Vice President of Millennia Housing Development, Ltd. in their newly created New York City office. She has extensive experience in all facets of affordable housing with emphasis on acquisitions, rehabilitations, refinancings and dispositions. She joined Millennia from New York City based Related Companies where she spent 18 years, most recently as a senior vice president in the affordable housing group. She was responsible for acquisitions and rehabilitation on all types of affordable housing such as Section 8, Section 236 and Low Income Housing Tax Credits. In addition, she was responsible for reengineering and repositioning of the existing legacy portfolio of government subsidized multifamily developments across the country. Allison was responsible for closing over one billion dollars in affordable housing transactions nationwide, helping propel Related to become one of the largest and most active owners of affordable housing in the country. Her role encompassed overseeing all aspects of affordable housing development including all types of financing, low income housing tax credits, construction, legal and regulatory matters.
Allison has strong relationships in the industry with numerous associations such as the New York State Association for Affordable Housing, National Housing & Rehabilitation Association and the Institute for Responsible Housing Preservation. Allison has participated in many symposiums throughout her career and served as a guest lecturer at New York University’s Stern School of Business. Allison earned her BA in Economics from New York University.
After starting his career at The U.S. Department of Housing and Urban Development (HUD), Dan Lyons joined Rockport Mortgage Corporation (RMC) in 1996 and now serves as a Principal and Managing Partner of the firm. Dan is a recognized national expert on affordable housing properties and brings over 30 years of combined HUD and mortgage lending experience to Rockport’s clients, successfully providing over $5 Billion in project financing. Dan specializes in the restructuring/recapitalization of complex affordable HUD assisted projects and participates in all phases of loan origination, underwriting, deal structuring, processing and closing.
Tom Maxwell joined RBC in 2012 as a Director with responsibility for originating LIHTC investments in the Northeast Region and working with developer clients and sponsors. Mr. Maxwell is a real estate professional with over thirty years of experience in real estate and significant originations experience in the affordable housing industry.
Mr. Maxwell received his undergraduate degree from Case Western Reserve University and his MBA from The Graduate School of Business at Boston University.
Cory Mian is POAH's Senior Vice President for Real Estate Development, responsible for managing POAH’s development staff of project managers, overseeing the work of the development team, and leading POAH’s most complicated acquisition and redevelopment executions.
She coordinates project staffing, informs key decisions on POAH’s real estate transactions, leads training and system development for the department, and serves as a subject matter expert for staff performing predevelopment assessments, financial and programmatic structuring, and project oversight.
Cory possesses a broad knowledge of complex deal structuring and layered finance, and has employed most of the available federal, state, local, private and tax credit equity resources and programs to underwrite affordable multi-family housing preservation since joining POAH as a Project Manager in 2005.
During her tenure at POAH, she has led POAH’s acquisition and recapitalization of fifteen properties representing nearly $250M in total development costs across three distinct geographies.
Prior to joining POAH, she worked at MMA Financial in their underwriting and asset management groups, where she managed a $275 million portfolio of tax-exempt bond issuances and performed financial analysis for corporate acquisition opportunities.
Cory holds a Bachelor’s degree from Brown University and a Masters in Urban Planning from the Graduate School of Design at Harvard University.
Susan Moro has more than 25 years of experience in real estate serving over 20 years in tax credits
and affordable housing. Based in New York City, Susan currently manages a team of low income
housing tax credit lending and equity professionals who are responsible for the structuring,
underwriting and closing of affordable housing tax credit transactions for the bank’s northern and
central territories, including NYC, Boston, and Chicago. Previously, she served in roles including Tax
Credit Syndications with Wachovia Securities/Wells Fargo where she was responsible for managing
client relationships, and asset and GP portfolio sales, and with Boston Financial Group in asset
management. Susan’s earlier real estate years were spent with RECOLL Management Group where
she was responsible for asset liquidation and overseeing a diverse portfolio of non-performing real
estate loans. She serves as a board member for the Supportive Housing Network of New York and is
a member of the LISC Connecticut Statewide Advisory Committee. Susan is a graduate of University
Michael M. Murray joined CREA in January 2010 and is responsible for identifying, structuring and closing LIHTC partnerships on a national basis. Active in affordable housing since 1993, Michael also served 12 years as managing director of acquisitions for a major syndicator and was a partner in its predecessor firm. Prior to that, Michael was a senior vice president at a major syndication firm and a vice president at a national syndication firm. Michael has directly originated, structured and closed over $1.1 billion of tax credit equity in over 19,000 apartment units valued in excess of $2.4 billion, and has served on the board of directors for the New York State association for affordable housing (NYSAFAH) for the past ten years. Michael holds a master of architecture degree from Harvard University and a bachelor of science from the University of Maryland, and served in the U.S. Army as an Airborne Pathfinder.
Kent Neumann has been in the affordable housing and healthcare business for almost 20 years. Mr. Neumann has served as underwriter’s counsel, purchaser’s counsel, bond counsel, lender’s counsel and borrower’s counsel and has also advised issuers and other clients on the legal and financial aspects of a wide range of tax-exempt and taxable financings around the country. These include publicly offered and privately placed financings using credit enhancement provided by FHA, Ginnie Mae (GNMA), Fannie Mae, Freddie Mac, the Federal Home Loan Bank, municipal bond insurance, bank letters of credit, insurance company guaranties, as well as unrated and/or uncredit-enhanced bond deals. Many of these transactions have involved multiple-tier financings utilizing senior/subordinated and other complex structures designed to achieve optimal efficiency and savings. These include “50% test” and cash-collateralized bonds as well as loans from Rural Development and HUD / FHA under various programs including 515, 538, 202, 221, 223, 236, 242, Section 8, HOPE VI, etc.
Mr. Neumann has been one of the most innovating attorneys in his field creating and developing many of the financial structured used today in both housing and healthcare industries. Many of these structures have created millions of dollars in savings while simultaneously providing efficiency in the execution. In addition, Mr. Neumann has a unique level of experience in and knowledge of cashflow modeling, rating agency requirements, credit enhancement programs, financial structures and other critical variables affecting bond financings.
Mr. Neumann graduated magna cum laude from the University of California, San Diego, where he received a B.A. degree in Psychology in 1995. He graduated magna cum laude from Tulane Law School in May of 1998 and is a member of both the California and the District of Columbia Bars. He is also a member of the American Bar Association and the National Association of Bond Lawyers.
Ricky B. Novak serves as a Co-Managing Partner of the Strategic Group of
Companies (Strategic Group), an Atlanta-based firm built on a platform of delivering
tax efficiency through business solutions and private equity capital. As such, Mr. Novak
leads Strategic 1031 Exchange Advisors (SEA). SEA is a boutique advisory and qualified
intermediary firm specializing in the structuring and facilitation of Section 1031 taxdeferred
like-kind exchanges for real estate, including reverse, construction, non-safe harbor,
and international exchanges for many sophisticated real estate investors and developers.
Further, Mr. Novak leads Strategic Group affiliate Strategic Capital Partners (SCP), a
boutique investment bank focused on federal and state tax mitigation strategies. Mr. Novak's
expertise includes structuring Opportunity Zone investments, conservation easements,
historic preservation, low-income housing and entertainment tax credit transactions.
Mr. Novak is also active with Strategic Group affiliate, SageStone Partners, which
provides a platform for real estate private equity investment with other family
offices. Mr. Novak serves on the investment committees for all families of funds
managed by the Strategic Group including, the Strategic Real Estate Opportunity
Fund, the Strategic Investment Fund, and the Strategic Opportunity Zone Fund.
Mr. Novak is also a registered representative and General Securities Principal of
Bridge Capital Associates, Inc, a member of the Financial Industry Regulatory
Authority (FINRA) and Securities Investor Protection Corporation (SIPC).
Mr. Novak has spoken nationally on various real estate topics, and has served as
a guest lecturer at Emory University School of Law. His writings have been published
in a varying array of periodicals, including Commercial Investment Real Estate (the
magazine of the CCIM Institute), Shopping Center Business, and the Scotsman Guide.
Mr. Novak was honored by his legal peers by his selection as a Georgia
SuperLawyer® Rising Star, an honor bestowed upon only the top 2.5% of attorney’s
under 40 years old. His peers have also selected him as one of Georgia Trend Magazine’s
Legal Elite. Additionally, Mr. Novak was the recipient of both the Atlanta Bar
Association’s Distinguished Service Award and the Atlanta Bar Association Real Estate
Section’s Member of Distinction Award.
Mr. Novak obtained his undergraduate degree from the Georgia Institute of
Technology, graduating magna cum laude, majoring in International Affairs with
Certificates in International Business Management and Spanish. He is credited with
studying at both the European Union and NATO in Brussels, Belgium. Mr.
Novak received his Juris Doctorate from Emory University’s School of Law,
with a concentration in tax, real estate, and international law. He also
attended the Jagiellonian University School of Law in Krakow, Poland,
concentrating in Eastern and Central European business law.
At the beginning of his career, Mr. Novak joined Arthur Andersen’s Global Tax
practice, where he assisted clients with global tax strategies, corporate
restructurings, and mergers & acquisitions. He later joined Deloitte & Touche’s
Atlanta Real Estate Tax practice, where he furthered his tax expertise by
structuring complex real estate transactions for major national and international
real estate investors, REITs, and companies.
Mr. Novak lives in the metro Atlanta area with his wife, Lisa, and their son. He is an
active member of the State Bar of Georgia, the Buckhead Club and the Robb Report
Club. Mr. Novak has served on the Board of Directors for the Atlanta Bar Association
and is a past President of both the Atlanta Bar Association’s Real Estate Section
Board and the Real Estate Group of Atlanta’s Board of Directors. He and his family
continue to be active philanthropists through their private family foundation.
Kate Racer is an Associate Director of the Massachusetts Department of Housing & Community Development (DHCD). Her primary responsibility is the department's Division of Housing Development, which oversees the allocation of low-income housing tax credits and the distribution of state HOME funds, as well as the distribution of funds through several state housing production programs. The department annually allocates approximately $12 million in tax credits and $12 million in state HOME funds to all four HOME program types.
Kate has served as associate director or acting assistant secretary of the Department for the past thirteen years. Prior to assuming her current position, she was director of the state's affordable homeownership program and special assistant to the Governor's Cabinet Secretary for housing. She currently serves on the boards of the Washington-based Council of State Community Development Agencies (COSDA) and the Boston-based Massachusetts Community Partnership Fund.
A graduate of Carleton College with a master's degree from the University of Chicago, Kate taught middle school and high school for ten years in Chicago and New York before moving to Boston and joining a development company specializing in Section 8 substantial rehabilitation projects. After five years in the private sector, Kate accepted a position at the state agency where she still works.
Charles A. Rhuda III, CPA, is a partner in the Boston, Mass. office of Novogradac & Company LLP. He has more than 25 years of experience in the real estate industry, predominately in tax advantaged real estate transactions. Mr. Rhuda works with tax credit developers, managers, syndicators and investors on structuring, financing and syndication of low-income and historic rehabilitation tax credits, in addition to providing traditional audit and tax services. He is a frequent speaker at regional and national seminars on topics in the affordable housing and historic tax credit industries and has published numerous articles in the Novogradac Journal of Tax Credits. Mr. Rhuda graduated from Pace University with a Bachelors degree in public accounting. He is licensed as a CPA in New York, Connecticut, New Jersey, Massachusetts and Maryland.
Dan Rosen is a housing and community development lawyer. He has helped public, private, nonprofit and for-profit clients build, buy, preserve and finance affordable, mixed-income and mixed-use housing developments across the country. Dan specializes in LIHTC, public housing redevelopment and other HUD assistance programs. He has worked with these and numerous other Federal, state, local and private funding sources to finance innovative, high-impact projects. Dan was a founding partner of Klein Hornig in 2002, and previously served as Associate General Counsel at The Community Builders, Inc., a national nonprofit developer.
John B. Rucker III
John B. Rucker III
Mr. Rucker has been an investment banker since 1977. Mr. Rucker graduated from The University of Mississippi in 1973 and The University of Mississippi School of Law in 1976 and is a member of the Alabama and Mississippi Bar Association. Mr. Rucker was a founding partner of Merchant Capital, L.L.C. In January of 2015, Merchant Capital merged with Stifel, Nicolaus & Company, Incorporated. He manages the firm’s affordable housing business and has a very active national practice. Through his leadership Stifel has become the leading affordable housing bond underwriter in the country, ranking number one nationally the last four years in the number of negotiated multi-family bond issues closed in the country.
Mr. Rucker is a regular speaker at various Affordable Housing conferences throughout the country. He has recently served on panels and spoken at conferences including The American Bar Association, Cohn Reznick, AHF Live, Novogradac and numerous State Housing Coalition functions, including Alabama, Georgia, South Carolina and North Carolina. His relationships in the industry include private developers, 501(c) 3 corporations, issuers, tax-credit syndicators and many others who are actively engaged in affordable housing.
He has been a member of Fannie Mae’s Southeast Regional Housing Advisory Council and Fannie Mae’s National Housing Impact Advisory Council. He serves on the Board of Directors of the National Housing & Rehabilitation Association. Mr. Rucker is also a registered municipal advisor.
In addition, Mr. Rucker is on the Board of the Federal Home Loan Bank of Atlanta and serves on the Bank’s Credit and Member Services, Governance and Compensation, and is Vice Chair of Housing and Community Investment Committee.
Matt Rule is Senior Vice President of Housing Development at National Church Residences. Matt leads NCR’s acquisitions, development finance, originations, and construction teams. In the past five years his team closed over 30 LIHTC transactions and purchased over 3,000 affordable senior units. In 2015, Affordable Housing Finance (AHF) named Matt as one of six Affordable Housing Young Leaders. Prior to joining NCR, Matt was a transactional attorney at Squire Sanders, LLP (currently known as Squire Patton Boggs) where he served as legal counsel for a variety of low income housing tax credit developers, syndicators, direct investors and lenders. Matt is a graduate from The Ohio State University Michael E Moritz College of Law where he graduated with distinction as Summa Cum Laude, Order of the Coif. Matt is active at Vineyard Church in Columbus and serves on the Board of Directors of National Affordable Housing Trust, the Board of Trustees of the Ohio Housing Council and the Board of Directors of Upper Arlington Rotary Club. Matt is married and has three very energetic children.
Founded in 1961, National Church Residences is one of the country's largest non-profit owners and developers of senior affordable housing. National Church Residences owns over 19,000 units of affordable housing designed to serve the elderly, low-income families and persons with disabilities.
Justin is an attorney and CPA (inactive status). Justin began his career in public accounting at DOZ in 2008. In 2013, Justin graduated from the Indiana University Robert H. McKinney School of Law and worked as a trial attorney at Barnes & Thornburg LLP, an Am Law 100 firm headquartered in Indianapolis. In 2017, Justin rejoined DOZ's tax and consulting groups where his practice focuses on advising developers and investors in the affordable housing industry on all manner of federal and state tax issues.
Peter B. Sargent
Peter B. Sargent
Mr. Sargent joined MHIC in February 2008 as Director of Capital Development. He is responsible for raising equity capital, and investor relations, for MHIC’s LIHTC program, NMTC program, Healthy Neighborhoods Equity Fund (HNEF) program, and loan consortium subsidiary, MHIC LLC. MHIC offers both multi-investor and proprietary fund structures in tax credits. LIHTC operations are concentrated in MA, CT, and RI while NMTC investments are throughout New England. MHIC has received twelve NMTC allocations totaling $872 million and has syndicated over $1.1 billion in housing tax credits. The firm has raised over $1.4 billion in capital and currently manages over $1.1 billion in assets. The first HNEF fund closed in 2016 at $22.35 million. All capital will be invested by the end of 2018 in eight properties in eastern Massachusetts. Prior to joining MHIC, Mr. Sargent spent eight years as Managing Director for Investor Services for a national LIHTC syndicator. Previously, he was Director of Tax Credit and Real Estate Equity Investment at BankBoston Development Company (BBDC), a subsidiary of BankBoston. BBDC was the first bank-owned urban investment bank in the country chartered to foster community economic development. Prior to joining BankBoston, he held several positions in Capital Markets and the International Department at BayBank Boston. As a banker, Mr. Sargent served on the Board of Directors of MHIC from 1990-1999. Mr. Sargent earned a B.A. degree in Japanese Studies from Ohio Wesleyan University in 1974 and an MBA degree from the American Graduate School of International Management in Glendale, Arizona (now part of Arizona State University) in 1975.
Kathie served as Senior Counsel to the General
Counsel at the U.S. Department of Housing and
Urban Development (HUD) during the Obama
Administration before becoming counsel in Nixon
Peabody’s Affordable Housing practice group.
Through her years at HUD and in the private sector,
Kathie has extensive experience navigating
regulatory requirements in all types of affordable
housing transactions and is one of the nation’s
foremost professionals in the Rental Assistance
Mr. Sorota is a senior member of the acquisitions department primarily responsible for the origination, acquisition, and analysis of affordable rental housing investments. He has over 22 years of experience working in the affordable housing industry. Prior to joining Stratford Capital, he was responsible for the opening the Boston office for Red Capital Markets, Inc where he originated, underwrote and closed tax credit investments throughout the northeastern U.S. He also co-founded Housing Advisors a consulting firm that provided due diligence services for developers, syndicators and investors in affordable housing. From 2003 through 2008 he served on the Andover Housing Partnership Committee. He received a Bachelor of Arts in Economics from Tufts University and an MBA from the Helsinki School of Economics.
Mary Thompson is a senior vice president in the Tax Credit Investment Group at Bank of America Merrill Lynch. Based in Boston, Mass., Ms. Thompson is responsible for originating, structuring and closing New Markets Tax Credit and Historic Tax Credit investments nationally with a focus on originating investments in the Eastern Region of the US. She has worked for Bank of America and its predecessor entities since 1994 in various real estate groups. Her experience includes commercial real estate lending, portfolio management, and the managing and disposition of an OREO portfolio. In 2004, she joined Bank of America’s Community Development Banking Group as a credit products officer, specializing in NMTC debt underwriting. She joined the Tax Credit Origination Group in October 2010. Prior to joining Bank of America, Ms. Thompson worked for several residential real estate companies managing new homes sales and corporate-owned homes. She has a bachelor’s degree from Providence College. Her volunteer and advocacy work includes being member of the Board of Directors of Preservation Massachusetts and a committee member Healthy Plymouth, an organization that provides out of school programming for middle and high schools students.