THC 2010

GROUP

Nation’s Largest Provider of Resident Services

Providing Assurance and Peace of Mind by Improving Communities, Impacting Lives and Boosting Financial Performance Texas Inter-Faith created the good Neighbor Program 10 years ago to address gaps in affordable housing. It looks beyond the limitations of traditional housing to address owner, resident and community concerns through unconventional and creative solutions. We believe by improving communities and enriching lives of residents, we improve financial performance of properties. On average, most properties experience a 2:1 return on their investment.

CAtegories oF serviCe

Health & Nutrition

Fun & Freedom Activities

educational services

Family skills & Development

• Health Fairs

• Seasonal Activities

• Nutrition Education

• Arts & Crafts

• Adult Learning Enrichment

• Financial Literacy

• Exercise Classes

• Movie Matinees

• Learning Enrichment

• Social Responsibility

• Basic First Aid & CPR

• Recreational Games

• Job Readiness

• Abuse Awareness

• Drug & Alcohol Awareness

• Birthday Celebrations

• Reading & Poetry Clubs

• Guest Speakers

• Basic Cooking & Baking

• Outdoor Activities

• Computer Literacy

• Household Management

• Summer Lunch Programs

• Music Programs

• Learned Optimism

• Family Activities

• Food Bank Development

• Red Hat Society

• English as a Second

• Voter Registration Sessions

Language (ESL)

• Referral/Outreach Services

• Immunization Programs

• Boy Scouts

• Parenting Classes

• Senior Health Screenings

• Art After School Programs

• General Equivalency Diploma (GED) • Job Readiness for Teens • College Preparatory Classes

& Drives

• Girl Scouts

• Homebuyer’s Education Neighborhood Pride & Leadership

• “Manners Matter” Etiquette for Youth • Mommy-and-Me Programs

• Interview Preparatory Classes • Self-esteem Programs for Youth • Multicultural Awareness • Youth Mentoring Programs

• Crime Watch • National Night Out • Fire Safety Awareness • Community Gatherings

• Stranger Danger Awareness for Children • Gang Prevention Workshops

• Gardening & Green Projects

• Recycling Programs

• Religious Studies Classes

• Community Contests

• Self-Defense Classes

& Competitions

for Adults

stoP by bootH 24 to LeArN more!

For opportunities, please contact: jhouston@ti-f.org, kdanley@ti-f.org or emiles@ti-f.org 3131 West Alabama, Suite 300 * Houston, Texas 77098 P 713-526-6634 F 713-526-7019

www.InterFaithGroup.org

Portfolio Resident Services is the National expansion of texas inter-Faith

A proud sponsor... ...of the 2010 Texas Housing Conference.

An organization dedicated to bringing about positive change in communities throughout Texas, banks on the participation of its members and supporters. The most extraordinary organizations take this connection to heart, doing what they can to help others succeed.

Bank of America Merrill Lynch is pleased to support TAAHP and salute you for your active involvement in advancing the success of affordable housing neighborhoods across the state of Texas.

Visit our Diamond Booth to speak with a Community Development Banking specialist today.

“Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Equal Housing Lender . Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. © 2010 Bank of America Corporation.

THC 2010 Thanks to the TAAHP Developers who provided submissions for our Spotlight on Affordable Housing in Texas

Costa Almadena San Antonio, TX

|

welcome

contents Welcome Schedule-at-a-Glance TAAHP Leadership

3 4-5 7-13

THC Partners

10

Special Events

12

Conference Information

14-15

Education Sessions

16-27

TDHCA Update

28-29

Trends in Housing

30-38

Exhibitor Listings

40-59

Affordable Housing in Texas | Building Better Communities Award-winning. Inspiring. Innovative. New words to describe affordable housing in Texas.

See the latest trends in housing design and amenities. 30 - 34 Partnering to keep production rolling. Texas Department of Housing & Community Affairs Executive Director, Michael Gerber, shares insight into new opportunities for affordable housing in Texas. 28 - 29

a message from

TAAHP President texas affiliation of affordable housing providers “Let the Awe and Mystery of a Journey Unlike Any Other Begin” 2001: A Space Odyssey When the TAAHP Board contemplated a theme for this year’s conference – it seemed appropriate that we thought of that famous movie “2001: A Space Odyssey” because it represents a story of evolution. The affordable housing industry throughout this country is going through a major evolution.

While our great country and the world economy continues to face serious challenges which may distract us — we must stay focused on the outcome of this important evolutionary time. We are building the future of affordable housing policy and initiatives now.

This conference brings you face-to-face with leaders in affordable housing to help you plan for the next decade of development. Our session topics are intended to educate and

www.texashousingconference.org

inspire you. Our networking sessions are an opportunity to connect with old friends and make new ones.

Thanks to our many exhibitors and partners for making this conference a success with your very generous support. Thanks to our speakers and panelists who will provide timely and relevant information throughout this conference.

And a major thank you to the TAAHP Board and our members who have given TAAHP its voice in the important housing policy issues that we have all faced in the past year and for our future. We encourage you to continue your personal advocacy efforts through your TAAHP membership on behalf of all Texans with limited incomes and special needs.

We are especially privileged that Lt. Governor David Dewhurst will serve as our first Honorary Conference Chairman. His dedication and support of the affordable housing industry makes us all proud to be Texans.

I hope you enjoy the hospitality of Austin, Texas, and our TAAHP team. I look forwarding to visiting with you.

One Voice. One Purpose. One Organization.

Linda McMahon, President Texas Affiliation of Affordable Housing Providers

Texas Housing Conference

|

3

schedule

| THC 2010

monday

important stuff

July 26, 2010

9:00 a.m. – 12:15 p.m.

Affordable Housing & Community Development Law

Little Colony

9:00 a.m. – 1:00 p.m.

Tax Credit Workshop

San Jacinto Ballroom

1:00 p.m. – 6:00 p.m.

THC Registration Open

2:00 p.m. – 3:00 p.m.

TAAHP Annual Membership Meeting

ting Annual Membership Mee

3:00 p.m. – 7:00 p.m.

Exhibits Open

- 3 p.m.

Monday, July 26, 2010: 2

3:30 p.m. – 5:00 p.m.

Opening Session

San Jacinto Ballroom

, TX

stin Four Seasons Hotel  Au

ers)

(Open to TAAHP Memb

San Jacinto Ballroom

Exhibit Hall

5:00 p.m. – 7:00 p.m.

Welcome Reception Exhibit Hall

tax credit workshop luncheon partners

Turn in your speaker evaluation forms for a chance to win a free 2011 full conference registration

Featured Speakers

Texas Lt. Governor David Dewhurst THC Honary Chair Opening Remarks, Opening Session Monday, 3:30 p.m. – 5:00 p.m.

Carol Galante HUD Deputy Assistant Secretary for Multifamily Housing Programs Keynote Speaker, Opening Session Monday, 3:30 p.m. – 5:00 p.m.

Winner will be notified withint 21 days following the close of conference.

4

|

Texas Housing Conference

www.texashousingconference.org

THC 2010

schedule

wednesday

tuesday

July 28, 2010

July 27, 2010

7:30 a.m. – 9:00 a.m.

Good Morning Breakfast with

David Crowe, Ph.D., NAHB San Jacinto Ballroom

9:00 a.m. – 10:00 a.m.

|

Breakout Education Sessions

7:30 a.m. – 9:00 a.m.

Legislative Champagne Brunch

Four Seasons Ballroom 8:00 a.m. – 9:00 a.m.

Effective Process in Moving Legislation

Four Seasons Ballroom

10:00 a.m. – 7:00 p.m. Exhibits Open Exhibit Hall

9:00 a.m. – 10:00 a.m. Legislative Roundtable

Four Seasons Ballroom

10:00 a.m. – 10:30 a.m. Granola & Smoothie Break

Exhibit Hall

10:00 a.m. – 10:30 a.m. Cookies & Exotic Fruit Break

Four Seasons Foyer

10:30 a.m. – 11:30 a.m. Breakout Education Sessions

10:30 a.m. – 12:00 noon TDHCA’s Critical Issues

Four Seasons Ballroom

11:45 a.m. – 1:15 p.m. Champions of Housing Luncheon

with Jim Gaines, Ph.D.

Real Estate Center at Texas A&M University San Jacinto Ballroom

1:30 p.m. – 2:30 p.m.

Breakout Education Sessions

2:30 p.m. – 3:00 p.m.

Popcorn & Bottled Pop Break

Exhibit Hall 3:00 p.m. – 5:30 p.m.

Breakout Education Sessions

12:00 noon 12:00 noon

Conference Adjournment Spa Day at the The Hyatt Lost Pines

Bastrop, TX Shuttle & onsite registration available

1:30 p.m.

1st Annual TAAHP-PAC Golf Classic

Barton Creek Resort & Spa

Onsite registration available

5:30 p.m. – 7:00 p.m.

Conference Reception Exhibit Hall

David Crowe, Ph.D. Chief Economist and Senior Vice President National Association of Home Builders Guest Speaker, Good Morning Breakfast Tuesday, 7:30 a.m. - 9:00 a.m.

Mark Humphreys, AIA, NCARB CEO of Humphreys & Partners Architects, L.P. Education Session – Apartments of the Future Tuesday, 10:30 a.m. – 11:30 a.m.

Jim Gaines, Ph.D. Research Economist The Real Estate Center at Texas A&M University Guest Speaker, Luncheon Tuesday, 11:45 a.m. – 1:15 p.m.

Anthony S. “Tony” Freedman Partner, Holland & Knight LLP Education Session – Tax Credit Issues from the Nation’s Capitol Tuesday, 4:00 p.m. – 5:30 p.m.

www.texashousingconference.org

Texas Housing Conference

|

5

Texas Affiliation of Affordable Housing Providers 221 E. 9th Street, Ste. 408, Austin, TX 78701 Phone: 512.476.9901 | Fax: 512.476.9903 www.taahp.org Jim Brown | Executive Director jbrown@taahp.org Jesus Azanza | Director of Member Services jazanza@taahp.org Kristi Sutterfield | Consultant ksutterfield@taahp.org Meredith Ply | Consultant mply@taahp.org Austin Babek | Intern

Texas Housing Conference Magazine Because we simplify your transactions – helping you put people on the path to affordable housing.

Your business is complicated enough. Whether you’re acquiring land or developing communities, you can depend on Stewart National Title Services to provide the underwriting and closing expertise, innovative technology, and dedication you need to streamline each and every transaction.

Close with the Commercial Experts.

Close with Stewart.

José Menéndez National Business Development 1980 Post Oak Blvd., Ste. 610 Houston, TX 77056 (800) 729-1906 stewart-nts.com

Editor

Jesus Azanza General Manager

Jim Brown Contributers

Michael Gerber, Texas Department of Housing & Community Affairs Bob Voelker, Munsch Hardt Kopf & Harr PC Conference Coordinator

Kristi Sutterfield Art & Production

Meredith Ply Meredith Ply Communications The THC Conference Magazine is published annually in conjunction with the Texas Housing Conference by the Texas Affiliation of Affordable Housing Providers. ©2010 www.texashousingconference.org

© 2010 Stewart Title Guaranty Company. All rights reserved.

THC 2010

|

leadership

Texas Lt. Governor

David Dewhurst selected as

the first TEXAS HOUSING CONFERENCE

Honorary Chair

Award presentation honoring Lt. Governor David Dewhurst will be held during the Texas Housing Conference Opening Session on July 26, 2010.

Join Jim Gaines, Ph.D, Research Economist, Real Estate Center at Texas A&M University, as he explores current and expected Texas economic and housing conditions for the coming decades of the new millennium.

Texas’ projected population expansion will put strains on infrastructure and housing that will severely test our abilities to satisfy them.

July 27, 2010 ď Ź 11:45 a.m. - 1:15 p.m.

Texas is poised for a population explosion during the 21st century and with that growth will come opportunities and strains on the existing system. Income levels will depend on jobs and housing demand will depend on incomes.

Today, 30 percent of Texas households cannot afford to buy a home priced higher than $75,000. What type and price of home will future Texas households be able to afford and how will we provide those homes?

Champions of

HOUSING Luncheon

www.texashousingconference.org

Texas Housing Conference

|

7

leadership

| THC 2010 2010 TAAHP Board of Directors

TAAHP Past Presidents 2008 – 2009 Mike Sugrue

Solutions Plus!

president LINDA MCMAHON Neigborhood Strategies, LLC

2007 – 2008 Mike Clark

Alpha-Barnes

Real Estate Services 2006 – 2007 Granger MacDonald

MacDonald & Associates 2005 – 2006 Diana McIver

DMA Development Co., LLC

immediate past president MIKE SUGRUE Solutions Plus!

president-elect DAN MARKSON The NRP Group

vice president TONI JACKSON Coats | Rose

vice president BARRY KAHN Hettig-Kahn

2004 – 2005 Jerry Wright

Dougherty & Company LLC 2003 – 2004 Mike Lankford

Lankford Interests, LLC 2002 – 2003 Chris Bergmann TCR Affordable Housing, Inc.

2001 – 2002 JOT Couch

Inter-Faith Group

treasurer GEORGE LITTLEJOHN Novogradac & Co. LLP

2000 – 2001 Sally Gaskin

SGI Ventures, Inc.

secretary NICOLE FLORES PNC Real Estate

1999 – 2000 Dick Kilday

Kilday Realty Corp

2010 TAAHP DIRECTORS

1998 – 1999 Edwina Carrington

Reznick Group, P.C.

TAAHP Ex-Officio Edwina Carrington Reznick Group, P.C JOT Couch Inter-Faith Group MAHESH AIYER Sterling Bank

SARAH ANDERSON S. Anderson Consulting

MIKE CLARK Alpha-Barnes Real Estate Services

DENNIS HOOVER Hamilton Valley Management, Inc.

ROBERT JOHNSTON National Equity Fund

Dick Kilday Kilday Realty Corp.

Mike Lankford Lankford Interests, LLC Granger MacDonald MacDonald & Associates Diana McIver DMA Development Co., LLC

JUSTIN MACDONALD MacDonald & Associates

8

|

MARK MAYFIELD Texas Housing Foundation

Texas Housing Conference

JEFFREY SPICER State Street Housing Advisors, L.P.

RON WILLIAMS Southeast Texas Housing Finance Corporation

JERRY WRIGHT Dougherty & Company, LLC

John R. Pitts John R. Pitts

www.texashousingconference.org

THC 2010

|

leadership

a message from

TAAHP Executive Director texas affiliation of affordable housing providers

Dear Texas Housing Conference Attendees and Partners: Welcome to Austin and the 12th annual Texas Housing Conference. We thought the 2009 conference would have been the most exciting in our conference history, but 2010 is even more exciting.

Following the 2009 conference, TAAHP Board of Directors made major changes to its committee system creating the Conference Committee and a new Educational Committee. Nicole Flores was appointed Chair of the Conference Committee and Edwina Carrington and Jerry Wright were selected as Co-Chairs of the Educational Committee. The two committees, staff and conference consultant initiated a collaborative effort to take the conference to new heights.

Expectations were high; performance higher.

The educational grid was revised to address the new challenges of the industry. Additional sessions were added to introduce new financing opportunities, national and Texas demographics for future housing needs, new

www.texashousingconference.org

multifamily housing design features including urban development initiatives, amenities in multifamily future, new trends in addressing the 50+ year housing market and other timely topics. The new educational program has attracted attendees from Oregon, California, Utah, New Mexico, Oklahoma, Louisiana, Mississippi, Alabama, Florida, Georgia, South Carolina, North Carolina, Virginia, New York, Ohio, Indiana, Illinois, Minnesota, as well as the Lone Star State.

While other trade associations have suffered during the current economic situation, TAAHP membership and the Texas Housing Conference have continued to grow in membership and conference participation. We appreciate the confidence our membership, conference participants and partners have shown in our ability to serve you.

The former 28-page conference program has officially grown into a 64-page magazine with feature articles along with the conference guide. Our conference partners have made larger and more diversified investments this year than in the conference’s past eleven years.

Please take time to get to know these partners and allow them to demonstrate how they can affect your bottom line.

All of this has been made possible by a couple of groups; staff and volunteers. Jesus Azanza, Director of Member Services is directing the conference and serving as editor of the Texas Housing Conference Magazine, Kristi Sutterfield is the conference coordinator, Meredith Ply, communications and Intern Austin Babek, logistics/support. We are happy that our trusty volunteers are returning again this year including Delores Groneck, Austin; Shonell Griffith, Houston; Katy Azanza, Austin; Michael Azanza, Windsor, California; Austin Babek, Arlington; and Douglas Wistner, Kerrville/ Austin; all of us being assisted by the gracious staff here at the Four Seasons Hotel. Mark your calendars for the 3rd week of July 2011 and set your GPS for the Texas Housing Conference here at the Four Seasons Hotel in Austin.

Jim T. Brown, Executive Director Texas Affiliation of Affordable Housing Providers

Texas Housing Conference

|

9

partners

| THC 2010

thank you

Diamond

Platinum

gold

silver

Practical wisdom, trusted advice.

Comprehensive legal services for affordable housing and community development.

Bronze

cONFERENCE

10

|

Texas Housing Conference

www.texashousingconference.org

THC 2010

|

leadership

a message from

TAAHP-PAC President

texas affiliation of affordable housing providers political action committee

The Texas Affiliation of Affordable Housing Providers - Political Action Committee (TAAHP-PAC) was established in 2008 for the purpose of providing a legal mechanism by which the membership of TAAHP could funnel financial support to our elected representatives that support our goal of providing high quality, affordable housing to the lower and moderate income citizens of Texas.

During our first year of existence we were able to host significant fund raisers for Senator Royce West (Dallas) and for Representative Jose Menendez (San Antonio) as well as make some sizable contributions to other important politicians. This year we have scheduled our first fund-raiser with the TAAHP-PAC Golf Tournament that I hope you are all playing in on Wednesday, July 28, 2010, at Barton Creek Resort & Spa. If you want to support the TAAHP-PAC, there are three ways to help:

www.texashousingconference.org

• You can contribute personally to the PAC. The TAAHP-PAC form is available on-line at www.taahp.org under the TAAHP-PAC tab at the top of the page. Your personal contributions are welcome at any time and we ask that at a minimum you seriously consider the “Dollar a Day” approach of donating at least $365 during the year to TAAHP-PAC. More is certainly better but if we all pledged a “Dollar a Day” we would have a powerful, wellfunded PAC .

• You can have your Company contribute funds to the TAAHPBetter Government Fund. This fund is allowed to accept corporate contributions and then utilize the funds to pay the expenses of fundraising events that procure direct PAC Contributions. Those funds can be contributed by means of a company check made payable to TAAHP- Better Government Fund.

• Participate in the Fundraisers for TAAHPPAC. When events like receptions and golf tournament are scheduled please do your best to participate with your friends and staff. Those contributions go a long way toward accomplishing our goals.

Think it through and I am sure you will see that the best way to provide support and get the attention of our representatives is through the TAAHP-PAC. Thanks for helping TAAHP be an advocate and supporter of affordable housing in Texas. It’s good for all of us.

Mike Clark, President TAAHP-PAC

Texas Housing Conference

|

11

partners

| THC 2010

MONDAY l July 26, 2010 MONDAY l July 26, 2010 Opening Session Opening 3:30 - 5:00 p.m.

Session San -Jacinto Ballroom 3:30 5:00 p.m.

special Event special Event PARTNERS

PARTNERS

San Jacinto Ballroom

Welcome Reception Welcome 5:00 - 7:00 p.m.

Reception Exhibit Hallp.m.

5:00 - 7:00 Exhibit Hall

Wine Trail Exhibit Hall Wine Trail 5:00 -Hall 7:00 p.m.

Exhibit 5:00 - 7:00 p.m.

Live Music 5:00Music - 7:00 p.m.

Live Exhibit Hallp.m.

5:00 - 7:00 Exhibit Hall

TUESDAY l July 27, 2010 TUESDAY l July 27, 2010 Good Morning Breakfast Good Morning 7:30 - 9:00 a.m.

Breakfast San -Jacinto Ballroom/ 7:30 9:00 a.m.

Exhibit HallBallroom San Jacinto

Granola&& Granola SmoothieBreak Break Smoothie 10:00- 10:30 - 10:30a.m. a.m.

10:00 ExhibitHall Hall Exhibit

Practical wisdom, trusted advice.

Comprehensive legal services for affordable housing and community development.

Practical wisdom, trusted advice.

Comprehensive legal services for affordable housing and community development.

Popcorn&& Popcorn BottledPop PopBreak Break Bottled 2:30- 3:00 - 3:00p.m. p.m.

2:30 ExhibitHall Hall Exhibit

Conference Conference Reception Reception 5:30- 7:00 - 7:00p.m. p.m.

5:30 ExhibitHall Hall Exhibit

LiveMusic Music Live 5:30- 7:00 - 7:00p.m. p.m.

5:30

Tax Credit Workshop Luncheon Partners Tax Credit Workshop Luncheon Partners

ExhibitHall Hall Exhibit

WEDNESDAY WEDNESDAYl lJuly July28, 28,2010 2010 Cookies&&Exotic Exotic Cookies FruitBreak Break Fruit 10:00- 10:30 - 10:30a.m. a.m.

10:00

FourSeasons SeasonsFoyer Ballroom Four

12

|

Texas Housing Conference

www.texashousingconference.org

THC 2010

|

leadership

a message from

2010 Conference Committee Chair texas housing conference

Welcome to the Texas Housing Conference!

It’s my pleasure to join you here on the shores of Lady Bird Lake in the beautiful City of Austin for our 12th anniversary celebration.

The TAAHP Board and membership have worked hard this year to represent and support many of the key initiatives affecting affordable housing and have designed this year’s agenda in hopes of providing a variety of educational opportunities on current subjects critical to the industry. I look forward to the unique learning and exceptional networking opportunities that accompany the conference each year.

The affordable housing industry continues to face challenges in securing and maintaining the funding that is critical to the availability, and more importantly, the stability of equity and debt products necessary for the development of workforce housing. In addition, on both the local and national levels, we must stay vigilant to ensure a strong and unified voice as we work to promulgate legislation aimed at securing

www.texashousingconference.org

adequate long-term investor demand, maintaining ad valorem property taxes at fair and achievable levels, mitigating the impact of utility allowances, and above all, preserving and increasing secondary and soft sources of financing critical to balancing the overall development budget.

We face these challenges while also looking ahead to improving the design, energy efficiency and services available to the residents of our properties statewide and across the nation.

Please take advantage of the speakers on design innovation, market analysis, critical due diligence items, state and local legislative initiatives and a variety of other topics to keep you and your firm up to date on not only the challenges but also the best of what our industry has to offer.

We appreciate your long-term support of TAAHP along with your support of the many exhibitors and partners that make this conference a success year after year. Finally, thank you for taking the time to register and participate in the Texas Housing Conference.

I find each year that every person I visit with brings a unique and important perspective to the sessions and the annual TAAHP membership meeting. With your help, we can ensure the 12th anniversary conference is the best yet!

Sincerely,

K. Nicole Flores, THC 2010 Chair TAAHP Board Secretary

I look forward to visiting with you during the conference in many of the networking events and also on the trade show floor.

Texas Housing Conference

|

13

information

| THC 2010

Accessibility The Four Seasons Hotel is in full compliance with the American With Disabilities Act and offers complete ADA accessibility.

Lost and Found To report a lost item, call the hotel’s front desk from any phone inside the hotel at 512.478.4500.

Badges The official registration badge should be prominently worn and displayed at all times for prompt admission to the exhibit area, education sessions, meals and receptions.

Badges are not transferable and may not be loaned to anyone for any purpose during the event. If you lose your badge, inquire at the registration booth.

Management Information The Texas Housing Conference is operated and managed by the Texas Affiliation of Affordable Housing Providers. Offices are located at 221 E. 9th Street, Ste. 408, Austin, Texas 78701 Phone: 512.476.9901, FAX 512.476.9903, www.taahp.org.

Admission & Pricing Package 1 - Full Conference Registration TAAHP Member $450 General $550 • Opening Session Ticket • Access to All Educational Sessions • Exhibit Hall Pass • 2 Breakfast Tickets • Refreshments & Snacks • 1 Luncheon Ticket • 2 Reception Tickets,

Meals and Receptions All Breakfast, Breaks, and Receptions are held inside the Exhibit Hall located in the San Jacinto & Four Seasons Ballrooms. You must wear your name badge for access.

Non-Exhibiting Supplier/Service Policy Non-exhibiting suppliers and service providers are not permitted to distribute sales materials or solicit business from attendees in the Exhibit Hall without securing a booth.

Hotel Layout

2010 Texas Housing Conference Lake Level

Package 2 - July 26, 2010 TAAHP Member $75 General $150 Lunch included. Choose one session from:

San Jacinto Ballroom

Exhibit Hall _________________

Four Seasons Ballroom

9:00 a.m. – 12:15 p.m.

Affordable Housing & Community Development Law (CLE credits for attendees) 9:00 a.m. – 1:00 p.m.

Tax Credit Workshop

Registration

Exhibit Only Pass TAAHP Member $50 General $50 Sessions/Workshop Content The Texas Housing Conference and its management assumes no responsibility for the comments or information expressed by session and workshop speakers, nor do they accept responsibility for the content or reprinting of any materials used or distributed during any session or workshop.

Exhibit Hall Hours of Operation The Exhibit Hall is located in the Four Seasons Ballroom. Hours of operation include: Monday, July 26 Tuesday, July 27

|

Hotel Entrance

Waterloo

Texas Housing Conference

Little Colony

lobby

3:00 p.m. – 6:30 p.m.

10:00 a.m. – 7:00 p.m.

Ground Transportation/Taxis We recommend that you pre-book all taxis or town cars at the transportation desk located at the front drive of the hotel.

14

lobby Level

Stone’s Crossing lobby bar

www.texashousingconference.org

THC 2010 On-site Registration Attendees may register on-site; however, space is limited for some events. The Registration Booth is located on the Lake Level in the Four Seasons Ballroom foyer area and is open:

Program Changes Due to unforeseen circumstances, program changes may be required at the last minute.

Any changes will be posted outside session rooms and at the registration desk.

Monday, July 26 1:00 p.m. - 6:00 p.m.

Tuesday, July 27 7:30 a.m. - 6:00 p.m.

Wednesday, July 28 8:00 a.m. - 10:00 a.m.

Refund/Cancellation Policy All cancellations must be received two weeks prior to the conference. No refunds will be made after the conference begins. A cancellation must be made in writing and submitted to TAAHP via mail, fax or E-mail.

Cancellation requests received two weeks prior to the first day of the conference will receive a full refund minus a 3% credit card processing fee. Name changes are permitted at any time.

You may pay by check or credit card (American Express, Discover, MasterCard, or VISA ) and includes a 3% credit card processing fee. If paying by check, make payable to TAAHP. Parking Four Seasons Hotel parking rates for the 2010 Texas Housing Conference are: Valet Parking: $12.00 per automobile Valet Parking Overnight: $28.50 *These prices are subject to change.

Curbside Metered Parking: Metered parking costs $1 per hour and is limited to 2 hours.

Parking after 5:30 p.m. and on weekends is free. Visit http://www.downtownaustin.com/ transportation/parking/lots/ for area parking garage information.

Show Regulations • Badges must be worn by all attendees and exhibitors at all times.

• Photography is not permitted in the exhibit hall without prior approval of Conference Management.

• Unauthorized solicitations are strictly prohibited.

|

information

Thank you Four Seasons Hotel Austin for the exceptional service you have provided the Texas Housing Conference. www.fourseasons.com/austin

RALLY DAY @the capitol February 24, 2011 capitol grounds l austin, tx

visit www.taahp.org for more information

www.texashousingconference.org

Texas Housing Conference

|

15

Education

sessions-at-a-glance | education

THC 2010

Time

Monday, July 26, 2010

9:00 a.m. - 12:15 p.m.

Affordable Housing & Community Development Law Little Colony

9:00 a.m. - 1:00 p.m.

Tax Credit Workshop San Jacinto Ballroom

Time 9 a.m. - 10:00 a.m.

10:30 a.m. - 11:30 a.m.

1:30 p.m. - 2:30 p.m.

3:00 p.m. - 4:00 p.m.

4:00 p.m. - 5:30 p.m.

Tuesday, July 27, 2010 Got Due Diligence?

Third Party Reports!

Little Colony

Debt Panel San Jacinto Ballroom

Multifamily Amenities of the Future & the 50+ Housing Market Stone’s Crossing

Improving Energy Efficiency in Multifamily Construction Waterloo

Urban Development Innitiatives: Historic Tax Credits, New Market Tax Credits, and Transit Oriented Development Little Colony

Apartments of the Future San Jacinto Ballroom

Marrying Tax Credits with HUD Financing Stone’s Crossing

The Buzz Around Social Networking - What Networking Tools do You Really Need?

Waterloo

The Challenges of Non-Compliance Little Colony

The State of the Equity Markets San Jacinto Ballroom

Tax Exemptions: The Texas Supreme Court Weighs in Stone’s Crossing

Financing Multifamily Deals in Rural America with USDA Waterloo

Where’s the Money?

Finding Non-Traditional Sources In Today’s Economy Little Colony

Accounting Challenges Relating to the Tax Credit Exchange Program San Jacinto Ballroom

Y15 Case Studies...Time to Re-Think your Limited Partnership Stone’s Crossing

HUD’s New Underwritting Guidlines Waterloo

Tax Credit Issues from the Nation’s Capitol San Jacinto Ballroom

Time

Wednesday, July 28, 2010

8:00 a.m. - 9:00 a.m.

Effective Process in Moving Legislation Four Seasons Ballroom

9:00 a.m. - 10:00 a.m.

Legislative Roundtable Four Seasons Ballroom

10:30 a.m. - 12 noon

TDHCA’s Critical Issues Four Seasons Ballroom

www.texashousingconference.org

Texas Housing Conference

|

17

education 9:00 a.m. – 10:15 a.m.

| Monday, July 26, 2010

THC 2010

Tax Credit Workshop

American Bar Association Forum on Affordable Housing and Community Development Law

San Jacinto Ballroom

Little Colony

Tax Credits 101

The Closing Checklist: Doing Deals with TDHCA and HUD

The Housing Tax Credit program is the nation’s largest producer of affordable housing and one of the most complicated financing programs to learn. Join us for this dynamic session and learn what a tax credit is, who purchases credits, what you can build under the program and a profile of the people who will live in these multifamily communities.

Over the last year, we have seen a big change in the financial markets which has changed the structure of many of transactions. This includes the utilization of TCAP and Exchange funds rather than the use of traditional tax credits. HUD is also participating more in these transactions with 221(d)(4) financing.

This seminar will give an overview for attorneys preparing for and handling closings that utilize financing that involves both HUD and TDHCA while also providing information regarding potential pitfalls.

The role of the allocating agency, the developer/builder, the lender and the investor in a successful development will be discussed. Join us as we explore a typical tax credit transaction where you will walk through the reservation process and the placed in service date.

Continuing Legal Education (CLE) - 3.0 CLE Hours The CLE hours are free for attendees registered for the Texas Housing Conference or ABA Forum members Moderator: Antoinette M. Jackson, Coats Rose Panel Members: Monita Johnson-Henley, Texas Department of Housing and Community Affairs Scott Crutchfield, Germer Gertz Debra Loya, U. S. Department of Housing and Urban Development

Edwina Carrington Reznick Group, PC

Diana McIver DMA Development Co., LLC

10:15 a.m. – 10:30 a.m.

Break

Break

10:30 a.m. – 12 noon

Tax Credits 102

Legal Updates in Affordable Housing

The Housing Tax Credit program is the nation’s largest producer of affordable housing and one of the most complicated financing programs to learn. Join us for this dynamic session and learn what a tax credit is, who purchases credits, what you can build under the program and a profile of the people who will live in these multifamily communities.

The changing financial market has also changed the legal landscape for the affordable market. We have seen changes in legislation that has created new programs, new deal structures and different tax implications. We have seen court decisions that impact the industry and a decrease of funding availability for transactions. This seminar will provide updates on legislation and other legal matters impacting the practice of affordable housing financing.

The role of the allocating agency, the developer/builder, the lender and the investor in a successful development will be discussed. Join us as we explore a typical tax credit transaction where you will walk through the reservation process and the placed in service date.

Edwina Carrington, Reznick Group, P.C. Diana McIver, DMA Development Co., LLC

Moderator: Cynthia Bast, Locke Lord Bissell & Liddell Panel Members: Barry Palmer, Coats Rose George Littlejohn, Novogradac & Company Tim Irvine, Texas Department of Housing and Community Affairs

12 noon – 1:00 p.m.

Tax Credit Working Lunch and Q/A Lunch open to workshop attendees

lunch partners

18

|

Texas Housing Conference

www.texashousingconference.org

Tuesday, July 27, 2010 |

THC 2010 7:30 a.m. – 9:00 a.m.

Good Morning Breakfast

education San Jacinto Ballroom

David Crowe, Ph.D., Chief Economist & Senior Vice President National Association of Home Builders

The session will detail positive economic indicators that foretell a turnaround in the overall economy and housing. There are many signs that the economy has already turned the corner but there are competing warnings that the recovery will not be as bright as past recoveries. Which will win out and where? The audience will see trends that point to a recovery in the economy and in housing as well as the hurdles that will impede that recovery. The presentation will conclude with a forecast of the housing recovery as it spreads across the country and a timeline for that progress.

9:00 a.m. – 10:00 a.m.

Got Due Diligence? Third Party Reports

Third party reports play a big part in the application process. Obtain first-hand knowledge on Texas Department of Housing & Community Affairs (TDHCA) requirements for each report. Panel members will provide information on what you should consider when you contract for a piece of property. The Panel will offer recommendations on what you should review in the reports prior to submission to TDHCA. You will receive information on the Appraisal and Property Condition Assessment, ATLA surveys required by lenders in addition to the basic surveys required by TDHCA.

Moderator Sarah Anderson S. Anderson Consulting

www.texashousingconference.org

Bob Coe O’Connor & Associates

Little Colony

James Dismukes Phase Engineering

Texas Housing Conference

|

19

education

| Tuesday, July 27, 2010

THC 2010

9:00 a.m. – 10:00 a.m.

Debt Panel

In the current credit environment, getting debt financing can be as challenging to obtain as equity capital. A panel of veteran bankers will discuss financing options and current underwriting guidelines that are prevalent in the marketplace. Both interim construction financing and long-term debt financing will be discussed at length. The panel members will share their current views on key underwriting issues in the debt market along with an analysis of what impact of the anticipated withdrawal of TCAP and Exchange Program stimulus funding will have going forward. Time will be allocated for a healthy Q & A discussion so please join us for this important and informative session.

San Jacinto Ballroom

Moderator Mahesh Aiyer Sterling Bank

Leslie Houston Wells Fargo

Jeffrey Rodman Bank of America Merrill Lynch

John Yochum Capital One

Ken Overshiner Chase

Mark Ragsdale PNC Real Estate

9:00 a.m. – 10:00 a.m.

Multifamily Amenities of the Future & the 50+ Housing Market

With its sheer numbers, the 50+ population is an integral component of today’s rental marketplace. In this session, get the latest research from the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute profiling who this segment of the population is and detailing the types of features and amenities these consumers are searching for in their next home and apartment community. Find out similarities and differences between 50+ renters and those in the all-important 25-34 age group.

The data will help you plan for your next project.

Introduction: Justin MacDonald MacDonald & Associates, Inc.

20

|

Texas Housing Conference

Stone’s Crossing

Sharon Dworkin Bell National Association of Home Builders

www.texashousingconference.org

Tuesday, July 27, 2010 |

THC 2010 9:00 a.m. – 10:00 a.m.

Improving Energy Efficieny in Multifamily Construction

education Waterloo

Michael Flatt, ICF International

The Oncor Low-Rise Multifamily (LRMF) ENERGY STAR Program awards monetary incentives to developers that commit to certifying individually metered units as ENERGY STAR in Oncor’s service area. Developers of all annual production volumes are eligible. In addition to incentives, developers accepted into the Program can take advantage of training and marketing resources that can also help them leverage their affiliation with ENERGY STAR, a nationally recognized, government-backed brand that is the national symbol of energy efficiency. ICF International implements the ENERGY STAR Low-Rise Multifamily Program as an independent contractor. Join Michael Flatt for this one hour session to learn more about becoming an ENERGY STAR Builder. For more information, you can also visit www. takealoadofftexas.com.

10:00 a.m. – 10:30 a.m.

Granola & Smoothie Break

Four Seasons Ballroom

thank you partners

Practical wisdom, trusted advice.

Comprehensive legal services for affordable housing and community development.

10:30 a.m. – 11:30 a.m.

Urban Development Initiatives: New Market Tax Credits, Historic Tax Credits, and Transit-Oriented Development

Buyer interest in the current tax credit programs is gaining momentum. This session will give you information on the latest trends and will cover New Market Tax Credits (NMTC), Historic Tax Credits and Transit Oriented Development. The New Market Tax Credit program is becoming an increasingly popular tool for economic development projects in low-income communities. It can be used to finance a variety of assets: non-profit facilities, owner-occupied real estate, and mixed-used projects. While it is complex and not a fit for every project, it is a potentially powerful subsidy that can work in a number of ways.

Little Colony

Under the right circumstances, the Historic Tax Credit program can create needed equity into rehabilitation projects. The subsidy is based on the hard project costs that are related to maintaining the historic nature of the building. There are a number of nuances and steps that need to be followed to ensure that the project is eligible and that will give potential investors comfort The discussion will also include urban and transit-oriented mixed use projects which are touted as the ‘new normal’ for real estate development as the economy recovers. This discussion will focus on the opportunities and challenges for developing mixed use, mixed income housing in urban areas and as part of the expanding network of transit systems that are being developed in Texas.

Moderator: Jerry Wright Dougherty & Mortgage Co

10:30 a.m. – 11:30 a.m.

Aaron T. Seybert JP Morgan Chase

Robert Voelker Munsch Hardt Kopf & Harr

Karl Zavitkovsky City of Dallas Office of Economic Development

Apartments of the Future

San Jacinto Ballroom

Mark Humphreys, Humphreys & Partners Architects

The real estate landscape has changed dramatically in the past few years, and with it, architects are rethinking what multifamily properties of the future will look like. Higher density, smaller units, and green features are a given, they say. But what else? And how will we get there? This session will offer various multifamily product types, designs, and costs for the apartments of the future.

www.texashousingconference.org

Texas Housing Conference

|

21

education 10:30 a.m. – 11:30 a.m.

| Tuesday, July 27, 2010

THC 2010

Marrying Tax Credits with HUD Financing

Stone’s Crossing

GET THE FACTS and a complete timeline on HUD’s and TDHCA’s application process. Panel members will discuss HUD’s 221 (d) 4 program and provide helpful hints on how to apply for a 40 year, non-recourse loan with 10% down.

HUD wants to produce or preserve 3,000 units of affordable housing this year. The TDHCA and HUD teams will give you valuable information on how to effectively use FHA mortgage insurance with tax credits. FHA and Tax credits are a viable option in today’s financing environment!

Moderator Jeff Spicer State Street Housing Advisors, L.P.

Ray Landry Davis Penn Mortgage Co.

Raynold Richardson U.S. Dept.of HUD

John Shackelford Shackelford, Melton & McKinley

Gretchen A. Marchand U.S. Dept. of HUD

Robbye Meyer Texas Dept. of Housing & Community Affairs

10:30 a.m. – 11:30 a.m.

The Buzz around Social Media - What networking tools do you really need

The Multifamily industry has been slow to get on the “Social Networking” bandwagon. Multifamily Residents want to be connected to the community that they live in. Through social networking, as an owner or manager, you have the opportunity to address customer service issues, receive feedback from consumers and stay better connected.

The cost is low but the impact is high. In an ideal world, every single property would have a social media manager onsite, but in today’s world, a social media manager in each region would be a start. The tools are free, so the only investment is time and in-house talent. With a viable strategy, vacancy rates and retention can easily improve with some simple digital channels opened by empowered staff members. Take the mystery out of networking, attend this session and get the answers you need!

Moderator: Linda McMahon Neighborhood Strategies, LLC

22

|

Texas Housing Conference

Benn Rosales AgentGenius.com

Lani Rosales AgentGenius.com

Waterloo

Kendall Shiffler Lower Oak Lawn

www.texashousingconference.org

Tuesday, July 27, 2010 |

THC 2010

education

Champions of Housing Luncheon

11:45 a.m. – 1:15 p.m.

San Jacinto Ballroom

Jim Gaines, Ph.D., The Real Estate Center at Texas A&M University

Get an inside look into the Texas economy and key real estate markets while exploring current and expected Texas economic and housing conditions for the coming decades of the new millennium. Texas’ projected population expansion will put strains on infrastructure and housing that will severely test our abilities to satisfy them.

1:30 p.m. – 2:30 p.m.

The Challenges of Non-Compliance

Compliance challenges can be frustrating but they can also be punitive. Join this group of experts for an interactive presentation and Q & A session to discuss ways to meet or exceed the state and federal requirements. You will receive a written outline on the new income and rent limits along with timely compliance information on the TCAP and Exchange programs. Communication between the owner and the management company is key to meeting or exceeding these requirements and having successful inspections! An overview of the regulations for low income tenants will be discussed along with utility allowances, social services, common areas, rent schedules and more.

Compliance is a lot like marriage, you have to work at it!

Moderator: Dennis Hoover Hamilton Valley Management, Inc.

Steve Ford Resolution, Inc.

Little Colony

Patricia Murphy Texas Dept. of Housing & Community Affairs

1:30 p.m. – 2:30 p.m.

The State of the Equity Markets

Don’t miss this informative session as our panel members explore the current trends in equity underwriting, pricing and the availability of capital. Attendees will receive vital information on the best way for developers to structure their tax credit deals to fit the current investor environment.

The panel will discuss the tax credit equity markets, including the rural markets, for 2010. Find out if the increased equity pricing will compensate for the lack of TCAP funds and if the ‘Exchange’ program will help or hurt. Panel members will look at future implications for the tax credit equity prices in Texas and if deal terms and guarantee requirements will be relaxed in the coming months.

Moderator: Nicole Flores PNC Real Estate

Sam Ganeshan Hudson Housing Capital

www.texashousingconference.org

Rob Golden Capital One

San Jacinto Ballroom

Robert Johnston National Equity Fund

Christopher Long Bank of America Merrill Lynch

Gary Robinson Raymond James Tax Credit Funds

Texas Housing Conference

|

23

education

| Tuesday, July 27, 2010

THC 2010

1:30 p.m. – 2:30 p.m.

Tax Exemptions: The Texas Supreme Court Weighs In

Earlier this year, the Texas Supreme Court denied a petition for review on two cases involving ad valorem tax exemptions for affordable housing properties. This action has set off numerous questions regarding property tax exemption for affordable housing. Our panel will discuss the current state of the Texas Tax Code with regard to the post 2003 legislation setting out the original 100% exemption and the 2003 legislative session reducing the exemption to 50%, the issue as to who makes the determination of the eligibility for the exemption and what is the basis used by various appraisal districts and the lack of a standardize methodology for the appraisal districts to establish value. The tax exemption issue not only affects the not for profit and the for profit CHODO’s, but has ramifications for the tax exempt bond deals. Developers, accountants and attorneys will weigh in with their current experiences and financial implications. A representative of an appraisal district has been invited to share views from the appraiser’s side of the table and will discuss the next steps, including potential legislative action to address current perceived concerns.

Moderator: Dan Markson The NRP Group

Cynthia Bast Locke Lord Bissell & Liddell

Lloyd Griffen Citi

Stone’s Crossing

Toni Jackson Coats Rose

Brad Forslund The Churchill Company

1:30 p.m. – 2:30 p.m.

Financing Multifamily Deals in Rural America with USDA

Have you ever wondered how you can make a Multifamily Rural Development deal work with USDA in your community? This session will focus on how to utilize the guaranteed rural rental housing program Section 538 in your area. Panel members will present financing guidelines and share recent modifications to the demonstration process on the continuous guarantee. Don’t miss the case study that will be presented and handed out during this informative session!

Moderator: Mark Mayfield Texas Housing Foundation

Eileen Manes BETCO Development

Ginger McGuire Lancaster Pollard

Waterloo

Michael Steininberger U.S. Dept. of Agriculture

2:30 p.m. – 3 p.m.

Popcorn & Bottled Pop Break

thank you partners

24

|

Texas Housing Conference

www.texashousingconference.org

Tuesday, July 27, 2010 |

THC 2010

education

3:00 p.m. – 4:00 p.m.

Where’s the Money? Finding Non-Traditional Sources in Today’s Economy

This Panel will feature alternative funding experts who manage a broad array of innovative funding sources that help your project get off the ground or provide the gap financing that is so needed in today’s economic climate. Hear how TDHCA makes the Housing Trust Fund accessible to you; how the Federal Home Loan Bank provides financing through its member banks; and how The Real Estate Council of Dallas has provided not only financial assistance but needed technical assistance for non-profit developers —a national model of collaboration between the commercial real estate industry and non-profit developers.

The discussion will include urban and transit-oriented mixed-use projects which are touted as the ‘new normal’ for real estate development as the economy recovers. This discussion will also focus on the opportunities and challenges for developing mixed-use, mixed-income housing in urban areas and as part of the expanding network of transit systems being developed in Texas.

Little Colony

no photo available

Moderator: JOT Couch Inter-Faith Group

Michelle Corson The Real Estate Council of Dalllas

Tom Gouris Texas Dept. of Housing & Community Affairs

Greg Hettrick Federal Home Loan Bank of Dallas

3:00 p.m. – 4:00 p.m.

Accounting Challenges Relating to the Tax Credit Exchange Program

The American Recovery and Reinvestment Act of 2010 jump started the affordable housing industry after the cost of equity fell below the feasibility range for most developers. While the TCAP and Exchange programs brought about new equity to the market, it also brought on some new accounting challenges.

This esteemed panel consists of TDHCA employees, attorneys and accountants who will discuss pitfalls and resolutions. Panel members will cover a wide variety of challenges from accounting for the receipt of the exchange grants and who gets the capital to tax exempt income and the eligible basis treatment. They will also discuss using exchange grants with tax credits, the risks of recapture, compliance and how it is different than Section 42 compliance as well as the draw process.

Moderator: George Littlejohn Novogradac & Company LLP

www.texashousingconference.org

Cynthia Bast Locke Lord Bissell & Liddell

Julie Newland Reznick Group P.C.

San Jacinto Ballroom

Teresa Shell Texas Dept. of Housing & Community Affairs

Texas Housing Conference

|

25

education

| Tuesday,

July 27, 2010

THC 2010

3:00 p.m. – 4:00 p.m.

Y15 Case Studies...Time to re-think your Limited Partnership

Buyer interest in existing low-income housing tax credit properties is heating up. Why the uptick? Who is the typical purchaser? For those of you who have tax credit communities ten years old or older, you won’t want to miss this important session to find out the answers to some important questions you might have. What are your rights? What about the LURA? Do you need approvals? What is a qualified contract price? Are there other options? Join our esteemed panel to find out the answers to these questions!

Stone’s Crossing

No Photo Available Moderator: Mike Sugrue Solutions Plus!

Barry Palmer Coats l Rose

Robert Courtney PNC Real Estate

Tim Kemper Reznick Group, P.C.

3:00 p.m. – 4:00 p.m.

HUD’s New Underwriting Guidelines

On July 7, 2010, HUD released the Mortgagee Letter with their new underwriting requirements for the FHA multifamily mortgage insurance programs. The core program underwriting standards have not been adjusted since the inception of the program. Changes were made to the Section 220, 221(d)(3), 221(d)(4), 231 and 241(a) programs and will be implemented in the next 60 to 120 days. Changes were also made to the Section 223(f ) and 223(a)(7) programs. Don’t miss this information packed session where you will receive first hand information on the changes to debt service coverage ratios and loan ratios, key underwriting provisions, occupancy standards and more!

Moderator: Michael Backman HUD

4:00 p.m. – 5:30 p.m.

Steve Wallace Nixon Peabody

Tax Credit Issues from the Nation’s Capitol

Jeff Rogers Dougherty Mortgage

Susan Wilson Novogradac & Company LLP

San Jacinto Ballroom

The Recovery - When Does It Reach Affordable Housing - And How? Tony Freedman, Holland & Knight

Introduction: Linda McMahon Neighborhood Strategies, LLC

5:30 p.m. – 7 p.m.

26

Ken Byrd U.S. Dept. of HUD

Waterloo

|

Tony Freedman will talk about current developments in Washington as they affect affordable housing. The topics will include the low-income housing tax credit, the Section 1602 tax credit exchange program, HUD’s Tax Credit Assistance Program (TCAP), some new HUD initiatives and the equity market for affordable projects. Among other things, he will be addressing the prospects for extension (or, hopefully, the recently enacted extension) of the Section 1602 program, as well as issues arising for developers and investors using Section 1602 and TCAP funds. He will also discuss where the broader equity market for affordable housing is going: whether investors are coming back; what kind of investors we are seeing; what kind of novel deals are attracting equity; and steps the Congress can – and might – take to support the equity market. Finally, HUD has made a significant proposal to “transform rental assistance,” which will offer both challenges and opportunities for owners, investors and deal-makers in coming years. These need to be discussed early in the process.

Conference Reception

Four Seasons Ballroom

thank you partner

Texas Housing Conference

www.texashousingconference.org

Wednesday, July 28, 2010 |

THC 2010

education

7:30 – 9:30 a.m.

Legislative Champagne Brunch

8:00 a.m. – 9:00 a.m.

Effective Process in Moving Legislation

The affordable housing industry is heavily regulated through federal codes, Texas statutes and rules promulgated from both. The process for revising existing statutes or the creation of new policies is presenting persuasive and accurate recommendations to the respective legislators. A distinguished panel representing the private sector and members of the Texas Government will offer suggestions on how you can be most effective in the process from their respective perspectives.

Moderator: Jim Brown TAAHP

The Hon. Ken Armbrister Legislative Director Office of the Governor

Four Seasons Ballroom

Nancy Fisher Texas Strategy Group

9:00 a.m. – 10:00 a.m.

Legislative Roundtable

The 82nd Session of the Texas Legislature promises to be one of the most challenging in this decade. While the housing industry may have priority issues past history suggests that the House and Senate will be focused on the $18 billion budget shortfall and the redistricting creating competition for other proposed legislation. The two housing financing programs in Texas, TDHCA and TSHAC are under Sunset Commission review and are subject to structural change. The 2010 Texas Housing Conference will be looking at developing a legislative agenda that will address the changes required for the industry to be more effective in developing the affordable housing inventory and remaining profitable. The panel, composed of experienced practitioners and politicians, will discuss the issues and open the floor mic for your input or questions.

Moderator: Granger MacDonald MacDonald & Associates

10:00 a.m. – 10:30 a.m.

10:30 a.m. – 12 noon

Kent Conine Chair, Texas Dept. of Housing & Community Affairs

Mike Gerber Exec. Director, Texas Dept. of Housing & Community Affairs

The Hon. Representative Jose Memendez Texas House of Representatives

The Hon. Senator Royce West Texas Senate

Refreshment Break sponsored by

TDHCA’s Critical Issues: Like all partnerships, the private/public partnership between the affordable housing industry and TDHCA continues to exist because the two parties resolve the issues effecting the Department and the stakeholders. While the agenda is broad you can expect to learn of new plans to expedite the release funds, faster underwriting, the development of the 2011 QAP and other program issues. The panel consists of TDHCA senior officials, division heads within the Department and moderated by a tax credit developer.

Robbye Meyer Diana McIver Texas Dept. of Housing DMA Development & Community Affairs Co., LLC Conference Adjournment Spa Day at the Hyatt Lost Pines l Bastrop, TX 1st Annual TAAHP-PAC Golf Classic Moderator:

12 noon 12 noon 1:30 p.m.

The Hon. Senator Eddie Lucio Texas Senate

Tom Gouris Texas Dept. of Housing & Community Affairs

Brooke Boston Texas Dept. of Housing & Community Affairs

Teresa Morales Texas Dept. of Housing & Community Affairs

www.texashousingconference.org

Texas Housing Conference

|

27

THC 2010

|

trends

TDHCA: Partnering to keep production rolling Michael Gerber, Executive Director Texas Department of Housing and Community Affairs

Economic stimulus funds and innovative housing programs offer opportunities to create new projects and develop additional affordable housing options for Texans in need.

Photo courtesy of Jorge Reyes, Information Specialist, TDHCA

O

ne of the best things about summer – besides housing tax credit awards – is going to the movies. Summer is traditionally one of Hollywood’s biggest seasons, and it often gives us a first glimpse at which films will take home a coveted Academy Award next fall.

It’s a shame this year’s TAAHP conference will never get the Hollywood movie treatment.

There certainly has been no shortage of recent drama.

The affordable housing industry is in the midst of the most troubled economic period in memory. The downturn in the nation’s economy that began in late 2008 decreased demand by investors for tax credits. The pricing of tax credits quickly plummeted, and many approved developments began to stall.

But you don’t need to read the script – you lived it.

So instead of focusing on the negative, let’s cast an enthusiastic and positive eye toward the great things that are being accomplished for low-income families across the State of Texas who desperately need quality affordable housing.

Tax credits awarded through last year’s competitive allocation cycle is helping

www.texashousingconference.org

construct or rehabilitate an estimated 7,000 units of affordable rental housing. The credits the Department awarded this week have the potential to do even more good.

As you know, TDHCA is also navigating through the brave new world of the economic stimulus package. New and innovative housing programs gave TDHCA a fresh set of tools that are helping complete projects that had previously ground to a halt.

Together, we are creating more than 14,400 units of attractive, high-quality affordable rental housing combined through these new programs. Units that otherwise might never have been completed will soon be home to some of our most vulnerable neighbors.

That is a remarkable achievement when you stop long enough to appreciate it.

And appreciate it we should. The need for affordable housing in Texas remains great; an estimated 621,000 renter households continue to experience a severe housing cost burden.

Thousands of others live in substandard or overcrowded conditions that simply should not be tolerated.

Without a supply of decent affordable housing, Texas cannot achieve its full potential. But without the equity financing

provided through tax credits, the development of affordable housing would be an even greater challenge.

Every film has a producer and a director.

The producer works behind the scenes to get a motion picture made and is generally responsible for its financial and organizational aspects. The director is responsible for bringing all the elements together, technical and creative, to give shape and form to the story concept.

One cannot succeed without the other.

Similarly, TDHCA and TAAHP depend upon one another to accomplish our respective missions.

Through a severe economic slowdown, through some of the toughest times this industry has ever seen, TDHCA has been there for TAAHP members to ensure you have access to the financial tools that make affordable housing possible.

As the economy improves, as the development community regains its footing and moves forward to meet its own potential, you have my pledge that the Department will continue to be a reliable partner in your efforts to move your projects from blueprint to lease up.

Now, cue the theme song and let the credits roll.

Texas Housing Conference

|

29

New Hope Housing at Brays Crossing 6311 Gulf Freeway l Houston, TX 77023 • newhopehousing.com/brayscrossing

Affordable

HOUSING Spotlight

Brays Crossing is New Hope Housing, Inc’s first development financed by Low Income Housing Tax Credits. The 149-unit SRO community is located at I-45 South at the Griggs Road exit. It transforms the former HouTex Inn, an official public nuisance property, into a ‘marquee’ for quality SRO housing and is a vibrant community asset. The property features an important public art component as a part of the HUD-required sound wall.

Developer New Hope Housing, Inc. Project Site Size 1.9673 acres Target Market(s) Houston and its surrounding counties Total Number of Units 149 units Size of Units 121 units at 225 sq. ft. / 28 units at 465 sq. ft.

Unit Composition 100% Low Income Housing Tax Credit units (at or below 50% AMI) Grand Opening Date February 20, 2010 Support Services • Transportation • Emergency financial assistance, for rent or medications • Fully-equipped Business Center / Computer Learning Center • Financial literacy, credit counseling and money management • Legal assistance • GED assistance • Health and nutritional courses • Health screening and health fairs • Sobriety meetings • Regular movie nights • Bible studies • Community meals and holiday feasts

Building Better Communities affordable housing for Texans with limited incomes and special needs

S

ince its organization in 1997, the public/private membership of the Texas Affiliation of Affordable Housing Providers (TAAHP) has continued with the association’s goals of creating an adequate inventory of affordable housing across

the vast lands of the Lone Star State; from several metroplex areas to the smallest of our rural communities. While affordable housing is a quality of life issue in almost every area, it also becomes a part of the local economic engine.

The $456 million of housing tax credits allocated to the State of Texas has created over one billion dollars in housing investment providing over 85,000 new or renovated living units with more than 78,000 set aside for low income families and individuals. The units serve a broad resident base ranging from single occupant to large family; including the elderly, former homeless, disabled, single parent, workforce families and others.

TAAHP members offer an array of services to the residents of their communities including grocery shopping trips, health and nutritional services/education, business and computer learning centers, on-site security services, GED classes and other programs to assist the residents in their efforts to overcome the past or simply to promote personal growth to meet future employment skill demands.

The Texas Housing Conference Magazine features a select number of our members’ communities over the next two pages.

For more information on these properties, contact the TAAHP office at info@taahp.org.

Residences at Eastland l Fort Worth, TX

After

Before 32

|

Texas Housing Conference

www.texashousingconference.org

The Arbor at Rose Park 2702 South 7th Street Abilene, TX

Costa Almadena 6222 S. New Braunfels San Antonio, TX

Developer DMA Development Company, LLC

Developer The NRP Group

Unit Mix 64 – 1BR/1BA 4 – 2BR/1BA 12 – 2BR/2BA

Unit Mix 99% Tax Credit 1% Market Rate/Multifamily

l

l

Support Services/Amenities • Health Screenings • Health and Nutritional Courses • Social Events, and more!

Support Services/Amenities • Computer Room with Internet Access • Courtesy Officers • Homework First, After School and Summer Programs for Resident Children and more!

Highland Manor Senior Housing 301 Newman Rd La Marque, TX

Lancaster 20100 Park Row Katy, TX

Developer Mark-Dana Corporation

Developer Henson Ford Investments

Unit Mix 87 – 1BR/1BA 53 – 2BR/1BA 1 – Manager’s Unit (2BR/2BA)

Unit Mix 252 Units (1, 2, & 3 bedroom units)

l

Support Services/Amenities • Club Room with Kitchen & Media Area • Community Laundry Facilities • Swimming Pool, and more!

www.texashousingconference.org

l

Support Services/Amenities • After School Program • Computer Classes • Exercise Room • Good Neighbor Program • Pool, and more!

Texas Housing Conference

|

33

Little Nell 8565 W. Sam Houston Pkwy l Houston, TX

Residences at Eastland 5500 Eastland St l Fort Worth, TX

Developer Henson Ford Investments

Developer NuRock Development, Inc.

Unit Mix 252 Units (1, 2, & 3 bedroom units)

Unit Mix 146 mixed income townhouse apartment community

Support Services/Amenities • After School Program • Computer Classes • Exercise Room • Good Neighbor Program • Pool, and more!

34

|

Support Services/Amenities • Business/Computer Training Center • Crime Watch Program • Recreation Center • Study/Homework Help and more!

The Village at Morning Star 3401 Magnolia Avenue l Texas City, TX

Waterside Court 503 West Road l Houston, TX

Developer DMA Development Company, LLC

Developer Hettig-Kahn Development, Co.

Unit Mix 80 – 1BR/1BA 10 – 2BR/1BA 10 – 2BR/2BA

Unit Mix 118 Four Bedroom/Bath Single Family Houses with Attached Garages

Support Services/Amenities • Health Screenings • Health and Nutritional Courses • Social Events, and more!

Support Services/Amenities • Furnished Clubroom • Youth Programs, Adult Education Counseling, and more!

Texas Housing Conference

www.texashousingconference.org

The Perfect Platform for Affordable Housing

This article has been reprinted with permission from UNITS Magazine and author, Robert Voelker with Munsch Hardt Kopf & Harr PC

Adding affordable units in transit-oriented development promotes “transit equity” among all individuals, particularly those with the greatest transportation burdens.

written by Robert Voelker

T

he United States currently has more than 27 major metropolitan regions with commuter rail systems, and 15 more areas are planning such systems by 2025. In Texas alone, Dallas is doubling its transit rail mileage in 2009-2010, Austin just opened the first phase of its rail line and Houston has plans for a massive expansion of its fledgling commuter rail.

The resulting train stations anchor prime locations for transit-oriented development (TOD), typically defined as a mixed-use project with a residential component within one quarter mile of a transit stop, designed to increase walkability and transit use. Although these Texas metropolitan areas are rapidly expanding their transit systems, the newly constructed TOD housing at the transit stations is not affordable to the average household.

A 2004 study commissioned by the Federal Transit Administration estimates that the demand for housing near transit will increase to 15 million households by 2040, more than double the 6 million households that currently reside within a half-mile of transit. However, among 3,300 transit stations throughout the country, there are only slightly more than 100 transit-oriented housing projects.

The anticipated growth in demand for rental housing at transit stops and the small amount of existing supply provide fertile ground for apartment developers. Unlike most suburban and even center-city apartment developments, TOD apartments should be built to appeal to mixed-income residents for reasons related to both social equity and business opportunity.

Adding affordable units in TOD promotes “transit equity” among all individuals, particularly those with the greatest transportation burdens; facilitates greater transit ridership; reduces cross-traffic migration and enlarges the resident pool.

Given the impending demand for transit-adjacent residential living and recently announced government policies that encourage and support financing for these developments, the next decade should bring significant opportunities for apartment developers willing to navigate the complexities of mixed-income TOD projects.

Mixed-Income Benefits Because most transit lines use pre-existing cargo rail right of way, commuter transit stations typically are in former commercial areas, where residents are primarily minorities earning lower incomes. Placing transit stops and transit-oriented developments in these former low-income centers has the distinct possibility of gentrifying the area by displacing lower-income residents away from the train stations.

This displacement is particularly burdensome on lower-income individuals who have the greatest transportation needs. Transportation costs are the second largest expense for most American households.

According to an Urban Land Institute article by Marilee Utter, “The Match Game: Bringing Together Affordable Housing and Transit Villages,” more than half of all transit users have household incomes of less than $50,000, which is why many affordable housing residents use transit, which typically costs $800 to $1,500 per worker per year, versus the $6,000 to $9,000 it costs to own and operate a car.

High land and development costs for TOD mixed-use, mixedincome projects typically dictate a 100 percent luxury residential development and no affordable component. However, this orientation toward high-end residential units does not facilitate greater transit ridership, which is dominated by lower income residents.

The lack of affordable housing also means that workers in the non-residential components of the development must commute to the area, creating greater automobile traffic by those workers and defeating many of the benefits of TOD. The burden of commuting to work falls particularly heavy on lower-income workers least able to afford car ownership. More than half of the potential demand for TOD housing is likely to come from households that have incomes below the area median income, according to an article from the Center for Transit Oriented Development. A 100 percent luxury residential TOD excludes this entire share of the apartment market, limiting the pool of potential residents.

continued... www.texashousingconference.org

Texas Housing Conference

|

35

Costa Almadena

ď Ź

San Antonio, TX

Exceeding Expectations + Exemplifying Excellence

The NRP Group would like to salute the Texas Affiliation of Affordable Housing Providers and Incoming President Dan Markson for their commitment to providing affordable housing for Texans with limited Incomes and special needs.

www.nrpgroup.com

ď Ź

tel 210.487.7878

The Perfect Platform for Affordable Housing - continued Though there may be fears that market-rate apartment residents will not want to live near lower income people, Generation Y—a vast majority of the current apartment rental market—is much more open to multiculturalism and urban lifestyles and find mixed-income communities to be more interesting and less homogeneous places to live.

Federal Focus Recent federal government pronouncements also warrant a greater emphasis on mixed-income TOD housing. Congress has directed the federal transit and housing agencies to “better coordinate public transportation and housing policies and programs” to “ensure that affordable housing is located closer to public transportation and employment centers.”

The U.S. Department of Housing and Urban Development, the Environmental Protection Agency and the Department of Transportation have followed that direction and recently announced their “Partnership for Sustainable Communities,” stating their intent to review their future funding under the auspices of transportation efficiency and environmental impact.

This federal focus will likely trickle down to housing finance, such as the HUD 221(d) program and the low-income housing tax credit (LIHTC) program. As one indication of this trend, several organizations have developed housing affordability indicators that examine the combined effects of housing and transportation costs to more accurately measure the complete burden of housing location decisions.

Given that many federal affordable housing finance programs are competitive or at the very least subject to meeting minimal scoring criteria, housing at TOD developments will have a much greater potential for being funded as federal and state agencies adopt criteria for affordable housing that combines both housing and transportation costs.

Another long-standing federal requirement that is being enforced more rigorously by the Obama administration than prior administrations will result in greater focus on how housing and transportation funding decisions by federal agencies impact affordable housing opportunities. The Civil Rights Act and its regulations prohibit federally funded agencies from both “intentional discrimination” and “disparate impact discrimination” on the basis of race, ethnicity or national origin.

Additionally, large blocks of federal infrastructure funding to cities require them to sign a pledge to “affirmatively further” fair housing. If federal funds are used to create housing and transit opportunities at TOD projects that primarily benefit higher-income residents and exclude lower-income residents, who statistically tend to be comprised of a greater minority population, a de facto case of disparate impact discrimination may arise and the local governments could be taken to task for neglecting to affirmatively further fair housing.

Developing Challenges Developing mixed-income housing as part of a TOD project is highly complex in every phase of the process—from politics, community involvement and planning and zoning on the front end to management after completion. Following are some of the barriers to mixed-income TOD development that apartment developers may experience: Zoning. As mentioned above, high land prices near transit stations can quickly make housing unaffordable.

Many suburbs with transit stops prohibit or greatly discourage apartments, and very few communities have adopted inclusionary zoning to promote mixed-income developments. Securing the development rights to allow rental housing will most likely require either a planned-unit development process or possibly the creation of a new TOD zoning district.

If the proper zoning is not in place and no dialogue on the benefits of TOD housing has been initiated by the city, the developer will need to work closely with the city, community groups and the regional transit-authority to lay this foundation. This process alone adds months to the development timeline.

Because zoning is largely a discretionary decision by planning/zoning and city councils and apartments in general and affordable housing in particular can be politically unpopular, laying a strong foundation for the zoning change, with community and interest groups, is a necessity. Some residential TOD projects are now charging extra for parking as a further disincentive to car ownership and to promote the benefits of transit use.

Affordable Housing Bonuses and Fee Waivers Additional density should be granted to developers who agree to provide affordable units to offset the lower rents that will be charged for these units. Although this increased density may give rise to concerns over traffic congestion, lower car use by lower income residents and the transit adjacency of the project should help allay these fears. Cities also can promote housing affordability by reducing or waiving impact fees, such as park fees and roadway impact fees, for transit-oriented developments. www.texashousingconference.org

continued...

Texas Housing Conference

|

37

The Perfect Platform for Affordable Housing - continued Reduced Parking Most cities that have no experience with TOD residential housing attempt to apply standard apartment parking requirements. TOD developments frequently contain structured parking garages, where the average parking space costs $10,000 and up, and excessive parking requirements drive up rents unnecessarily. Limiting the availability of parking encourages car-free living for all of the TOD residents regardless of income. Some residential TOD projects are now charging extra for parking as a further disincentive to car ownership and to promote the benefits of transit use. Reducing parking requirements should be addressed as part of the zoning process.

Construction Plans Many affordable housing finance programs restrict the ability of mixed-income developers to design and build market-rate units to a different standard than affordable rental units. While a mixedincome development may have lower overall design standards to accommodate reduced rents on affordable apartments, market-rate residents will be drawn to a TOD’s inherent amenities, such as transit adjacency, walkable shopping and dining experiences and an overall urban feel.

Building the Capital Stack Affordable housing rents and the cost of transit-adjacent land create significant loan and equity gaps in TOD development budgets. Costly structured parking garages and a mixture of uses make debt and equity financing much more complex, with 10 or more “layers” of financing being typical (including traditional bank debt, developer equity, lowincome housing tax credits, tax-exempt bonds, new market tax credits, state and local grants, property tax forgiveness or reduction, taxincrement financing, municipal management districts, public funding for infrastructure, sales tax rebates and other forms of public/private cooperation). Aligning the interests of all of these financing sources and coordinating the relationships of all of these debt and equity sources is an exercise in shuttle diplomacy on the part of the developer and its legal counsel.

Management Most affordable housing financing requires that affordable units be rented only to residents below a certain income level, that the rent charged is limited, and that the owner certify that these requirements are satisfied on an annual basis. Only select management companies have experience in these compliance reporting procedures, and even fewer management companies understand these certification requirements and are also capable of catering to the service-level expectations of higher income residents.

Affordable housing can be incorporated in an upscale TOD project with creative and patient cooperation between the developer, the transportation agency and applicable state and local governmental agencies.

A prime example opened earlier this year in Hollywood, where Legacy Partners’ Hollywood & Vine Residences was developed adjacent to and simultaneously with our client’s W Hollywood Hotel & Condominiums development. Hollywood & Vine contains 75 affordable rental apartments (financed in part by LIHTC and tax-exempt bonds) as part of the 375-unit apartment, 304-room W Hotel and 143-condominium residences.

The affordable housing component was required as part of the community benefits arrangement with the Community Redevelopment Authority of Los Angeles and the Request for Proposal from the Metropolitan Transportation Authority, which owned most of the land for the development.

The entire development is focused around the Hollywood & Vine subway station. The end result allows the service workers at the hotel, restaurants and retail to afford to live onsite and allows equal access to transit to all ends of the economic spectrum. For TOD development to be truly sustainable it must serve the full diversity of the community, including low- and moderate income individuals.

Denver Apartment Seekers Willing To Pay More To Be Near Light Rail People in Denver are willing to pay about 4 percent more to rent an apartment that is within a quarter mile of a light-rail stop, according to a recent analysis of the apartment market by Grubb & Ellis, reported by the Denver Post on June 14.

This trend is pushing vacancy rates down in such communities while raising the cost of land near existing and potential transit stops. Tom Wanberg, Senior Vice President of Investment Services at Grubb & Ellis, confirms, “We do have a really young, educated work force that will pay a premium to be near light rail.”

Realizing this, developers paid an average of 25 percent more between 2006 and 2010 for properties within the quarter-mile radius of transit locations. Additionally, proximity to public transportation ranked second only to geographic location as a driver in resident leasing decisions, followed by common-area amenities.

College students make up 40 percent of the population leasing near transit stops, while professionals in their 30s account for 35 percent of residents in those areas. Public transportation in the area is expanding as a result of a votersupported 0.4 percent sales tax to build FasTracks, including six new train lines and extensions on the existing lines.

Robert Voelker is an attorney with Munsch Hardt Kopf & Harr P.C., based in Dallas. He can be reached at rvoelker@munsch.com or 214/855-7594.

38

|

Texas Housing Conference

www.texashousingconference.org

NOTES

Exhibits

THC 2010

|

exhibitors

Law Office of Mark D. Foster

Exhibit Hours Monday, July 26..........3:00 p.m. - 7:30 p.m.

Tuesday, July 27.......10:00 a.m. - 7:00 p.m.

www.texashousingconference.org

Texas Housing Conference

|

41

exhibitors

| THC 2010

Exhibitor listings

42

|

Texas Housing Conference

by booth number

www.texashousingconference.org

THC 2010 Amegy Bank of Texas

Booth 27 1211 McKinney Street, Level P-1, Houston, TX 77010 Tel: 713.232.6036 Fax: 713.571.5010 Contact: Mary Jane Henson, Corporate Trust Manager Email: maryjane.henson@amegybank.com www.amegybank.com/corporatetrust We are a premier, full-service corporate trust provider offering an extensive array of products and services located in the heart of downtown Houston. Our Texas Corporate Trust office has more than 100 years of combined experience in corporate trust services and offers the flexible and responsive trust services you need.

|

exhibitors

Bonneville Mortgage Company

Booth 10 111 E. Broadway, Suite 310, Salt Lake City, UT 84111 Tel: 801.323.1000 Fax: 801.323.1071 Contact: Chris Mullen Email: cmullen@bmcslc.com Bonneville Multifamily Capital is the largest USDA Rural Development 538 lender in the country and MAP approved HUD lender as well. We are correspondents for 25 life insurance companies and place loans with Fannie Mae and Freddie Mac. Whether you want to build new, refinance or substantially rehabilitate an existing property, we have a lending solution for you.

Ameristar Fence Products

Boston Financial Investment Management, L.P.

Booth 18 P.O. Box 581000, Tulsa, OK 74158 Tel: 888.333.3422 Fax: 877.926.3747 Contact: Jeff Turner Email: mktg@ameristarfence.com www.ameristarfence.com

Booth 17 101 Arch Street, Boston, MA 02110 Tel: 617.488.3203 Fax: 617.439.4805 Contach: Greg Voyentzie, EVP Acquisitions Email: greg.voyentzie@bfim.com www.bfim.com

AMERISTAR is the world’s largest manufacturer of high quality, maintenance free, ornamental fencing. Used as a perimeter fence, security fence, for controlled access, homeland security, or simply to enhance the property’s appearance - we manufacture a specific grade and style for each application needed.

Boston Financial provides tax credit equity to developers nationwide. With a portfolio of $10 billion, we are the largest investment manager in the tax credit industry with a portfolio that includes 199,000 units in 1,831 properties. Contact us today and put our experience to work for you.

Bank of America Merrill Lynch

Booth 2 901 Main Street, 20th Floor, Dallas, TX 75202 Tel: 214.209.3022 Fax: 214.416.0740 Contact: Valerie A. Williams, SVP, Client Manager Email: valerie.a.williams@bankofamerica.com www.bankofamerica.com/community Bank of America Commercial Real Estate Banking is the largest provider of commercial real estate financial services in the country. This dedicated team of real estate professionals provides project and corporate finance and comprehensive financial solutions for a broad array of clients including public and private Real Estate Investment Trusts (REITS), funds, as well as commercial and residential development companies.

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services.

www.texashousingconference.org

Capital One

Booth 25 5718 Westheimer Road, 10th Floor, Houston, TX 77057 Tel: 713.435.5324 Fax: 713.435.5683 Contact: John Yochum Email: john.yochum@capitalonebank.com www.capitalone.com Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively have $121 billion in deposits and $150 billion in managed loans outstanding as of March 31, 2009. Well known for credit card products, Capital One also operates full service banks in Texas, Louisiana, New York, New Jersey, Virginia, Maryland, and the District of Columbia. Capital One’s community development program invests and lends over $500 million annually to serve the needs of our communities.

Texas Housing Conference

|

43

Unsteady Climate.

Solid Solutions.

With a challenging economy and tight lending ever – particularly for affordable housing properties.

By partnering with Citi Community Capital, you get access to more than just capital. You gain a partner with the resources, talent and nationwide platform

At Citi, we aim to be the foundation of your success.

Contact Citi Community Capital today at askciticommunitycapital@citi.com or call 615.372.6144

Š 2010 Citigroup Global Markets Inc. Member SIPC. All rights reserved. Citi and Arc Design are trademarks

THC 2010

|

exhibitors

Centerline Capital Group

Chase

Centerline Capital Group, a subsidiary of Centerline Holding Company (OTC:CLNH), provides real estate financial and asset management services, with a focus on affordable and conventional multifamily housing. We offer capital solutions, including financial and investment products, to developers, owners, and investors.

Chase is a national leader in community development finance for affordable housing and economic development projects.

Through our vast resources, we can offer financing for projects of any size and complexity, both short-term and long-term.

We distinguish ourselves as leaders by providing loans and community development services to meet the needs of lowand moderate-income communities throughout the United States.

Booth 32 625 Madison Ave, New York, NY 10022 Tel: 212.317.5700 Fax: 212.751.3550 Contact: Justin Ginsberg, Senior Managing Director Email: jginsberg@centerline.com www.centerline.com

Our core businesses include: Low-Income Housing Tax Credit (LIHTC) origination, asset management, and affordable and conventional multifamily lending, primarily as a Fannie Mae DUS Lender, Freddie Mac seller-servicer, and FHA-approved mortgage provider.

CenterPoint Energy

Booth 9 290 S Castell Ave, New Braunfels, TX 78130 Tel: 830.643.6938 Fax: 830.643.6931 Contact: Wendy Lamb, Sr. Marketing Director Email: wendy.lamb@centerpointenergy.com www.centerpointenergy.com Natural Gas Distribution - We sell and deliver natural gas to 3.2 million homes and small businesses in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas, including the high-growth areas of Houston and Minneapolis.

www.texashousingconference.org

Booth 4 2200 Ross Avenue, Floor 9 (TX1-2951), Dallas, TX 75201 Tel: 214.965.2113 Fax 214.965.3297 Contact: Gilbert Gerst, Vice President Email: gilbert.gerst@chase.com www.chase.com/cdb

Coats | Rose

Booth 15 3 Greenway Plaza, Suite 2000, Houston, TX 77046 Tel: 713.651.7395 Fax: 713.890.3944 Contact: Barry J. Palmer, Director Email: bpalmer@coatsrose.com www.coatsrose.com The Coats Rose Affordable Housing Group has extensive experience in affordable housing devleopment. We have represented for-profit developers, non-profit developers and public housing authorities utilizing a variety of financing techniques, including HOPE VI financing, low income housing tax credits, private activity bonds, investment syndications and conventional financing. Our attorneys routinely structure complex transactions providing comprehensive solutions utilizing all aspects of financing in the affordable housing arena.

Texas Housing Conference

|

45

THC 2010 Empire Construction

Booth 19 3600 Henson Rd., Knoxville, TN 37921 Tel: 865.755.7100 Fax: 865.251.2550 Contact: Dan Johnson, Director of Sales/Marketing Email: danj@empireconstruction.com www.empireconstruction.com Empire Construction is a General Contractor and national distributor of the e-living modular multifamily units. Now in our 31st year of business, Empire has been focused on the renovation of occupied apartment units throughout the Southeast region for the last several years. A new partnership with Clayton Building Solutions allows Empire Corporation to take a Developer’s deal to a syndicator with a designed fund specifically allocated only for projects utilizing Clayton Building Solutions.

Enterprise Community Investment, Inc. Booth 35 10227 Wincopin Circle, Columbia, MD 21044 Tel: 410.772.2594 Fax: 410.772.2585 Contact: Philip Porter - Vice President, Syndication - Originator Email: pporter@enterprisecommunity.com www.enterprisecommunity.com

Enterprise Community Investment, Inc. is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise is committed to advancing Green building and supportive housing and is a leader in preservation and Gulf Coast recovery efforts.

|

exhibitors

Federal Home Loan Bank of Dallas

Booth 16 8500 Freeport Pkwy South, Irving, TX 75063 Tel: 800.362.2944 Fax: 214.441.8888 Contact: Greg Hettick, Vice President, Director Community Investment Email: gregory.hettick@fhlb.com www.fhlb.com The Federal Home Loan Bank of Dallas supports housing and economic development by providing access to favorably priced funds to more than 900 member institutions across our five-state District. The Affordable Housing Program (AHP) offers direct grants to assist our members in meeting their community’s affordable housing needs. AHP grants are intended to bridge financing costs for construction, renovations, repairs, down payment, closing costs and firsttime homebuyer counseling. Call 1-800-362-2944 or visit www. fhlb.com for more information.

Law Office of Mark D. Foster

Booth 5 4835 LBJ Freeway, Ste 424, Dallas, Texas 75244 Tel: 214.363.9599 Fax 214.363.9551 Contact: Mark Foster, attorney Email: mark@mdfoster.com www.mdfoster.com The Law Office of Mark D. Foster is a boutique law firm specializing in Solar Tax Credits, New Markets Tax Credits, LIHTCs and Historic Credits. Mark has an accounting degree from UT Austin and a Masters in Tax Law from SMU which makes him uniquely qualified to represent developers, lenders and investors in all aspects of a transaction. During the past 28 years, Mark has facilitated the development of 500 tax credit projects in 40 states.

REPRESENT YOUR STATE

Texas Housing Conference Participants, Partners, and Exhibitors Stretch from Coast-to-Coast.

www.texashousingconference.org

Texas Housing Conference

|

47

hudson_thc_7-26-10_v1_Layout 1 5/16/10 7:02 PM Page 1

Great team.

Great results.

In challenging economic times, a great team makes all the difference.

At Hudson Housing Capital, we adhere to the principles of integrity, quality, transparency and stability. We continue to place a high volume of equity capital into high quality, low income housing tax credit developments around the country. At Hudson Housing Capital, we remain steadfast in helping keep the promise to low income housing beneficiaries. For more information, please call or e-mail us today.

630 FIFTH AVE., ROCKEFELLER CENTER, NY, NY 10111 • T: 212.218.4469 11601 WILSHIRE BLVD., SUITE 500 LOS ANGELES, CA 90025 • T: 310.575.1852 7535 LITTLE RIVER TURNPIKE, SUITE 204, ANNANDALE, VA 22002 • T: 703.639.0880 100 CUMMINGS CENTER, SUITE 433A, BEVERLY, MA 01915 • T: 978.236.4252 2000 AUBURN DRIVE, BEACHWOOD, OH 44122 • T: 216.378.7615 251 RECINTO SUR, SECOND FLOOR, SAN JUAN, PR 00901 • 787.721.7929 WWW.HUDSONHOUSING.COM

5.16.10 • texas housing conference ad • 7.5” x 10” • issue: 7.26.10

THC 2010

|

exhibitors

Fyffe Construction Co, Inc

Galaxy Builders, Ltd.

Founded in 1971 on the belief that successful projects build strong relationships, Fyffe Construction Co (FCC) has become a leader in the construction of affordable multi-family developments. We understand that delivery of a quality product, on time, and on a budget is vital. Our competitive, progressive team and state-of-the-art technology streamline the entire construction process. It is because of our vision, communication, commitment, and industry specific experience that our clients return.

Since 1991, Galaxy Builders has built its reputation on its pursuit of excellence, commitment, and trust. Based in San Antonio, Texas, Galaxy Builders, Ltd. is a leading general contracting firm specializing in multifamily projects throughout the Southwest. Galaxy Builders’ award-winning management teams have built more than 20,000 multifamily units throughout the United States with a wide range of finish levels. From large-scale seniors living and multiple levels of care to rehabilitating affordable housing, the company dedicates itself to timely, budget-aware delivery.

Booth 29 P.O. Box 168, Fyffe, AL 35971 Tel: 256.417.4922 Fax: 256.623.2092 Contact: Julie Brown, Marketing Director Email: jbrown@fyffeconstruction.com www.fyffeconstruction.com

Over the course of the last several years, FCC has developed many valuable relationships with both state housing agencies and private investors. These mutually beneficial relationships have provided growth to our company’s expertise and territory.

Successful Projects Build Successful Relationships.

Booth 43 4729 College Park, San Antonio, TX 78249 Tel: 210.493.0550 Fax: 210.493.7573 Contact: Neilesh Verma, Director, Business Development Email: neileshv@galaxybuilders.com www.galaxybuilders.com

Goodman Manufacturing Company, L.P.

Booth 22 5151 San Felipe, Suite 500, Houston, TX 77056 Tel: 713.263.5064 Fax: 713.586.8059 Contact: Dick Rydzeski, Director National Builder Sales Email: dick.rydzeski@goodmanmfg.com www.goodmanmfg.com We’ve been building Goodman® brand air conditioning and heating equipment since 1982. Given our nearly three decades of experience in the heating and cooling business, home builders and home owners can be assured that Goodman brand air conditioning and heating systems meet the highest industry standards and are installed by some of the best and most experienced professionals in the industry.

When you choose the Goodman brand, you can rest assured that you’ll receive a refreshingly affordable product that’s covered by what we believe to be the best product warranties in the heating and cooling industry.

www.texashousingconference.org

Texas Housing Conference

|

49

Are You Leaving

Money On The Table?

Great Conference Gifts this Year...

THANKS PARTNERS! Your current utility allowance methodology may be costing you!

(conference bag)

The high cost of energy is always in the news. Everyone knows about adding insulation and higher SEER ratings, but it doesn’t occur to most folks that how you calculate Utility Allowances could also be costing you a bundle.

Here in Texas and around the country, Diamond Property Consultants has been helping Owners and Managers of LIHTC properties boost cash flow by using alternative IRS approved methods for calculating utility allowances.

(umbrella)

Using DPC’s specially developed programs, our clients have been able to adjust their utility allowances to realistic and reasonable levels, which are pertinent to their specific properties. We have more than a thousand assignments under our belt. Each one has helped improve the operating budget and increased cash flow.

h e C i ty t e c a r b Em to p s .

S r e v e N t tha

Whether it’s a single property or an entire portfolio, Diamond Property Consultants will develop the right program for you. Contact us for an evaluation of your current utility allowance situation. We’ll do a free preliminary analysis to see if our program can help. If we can help (and most of the time we can), you’ll have a great chance to take that money back off the table.

Call Jim Beats at DPC today for your free evaluation!

Diamond Property Consultants, Inc. ♦ Heath, Texas (972) 475-9977 ♦ information@dpcservices.net

50

|

Texas Housing Conference

Experience Austin using your visitors guide included in your conference gift bag. www.texashousingconference.org

THC 2010 Home Team Pest Defense

Booth 41 2214 Paddock Way, Suite 300, Grand Prairie, Texas 75050-1005 Office: 972.408.2400 Fax: 972.408.2430 Cell: 214.232.4909 Contact: Dirk Korte,Vice President Builder Sales, West Division Email: dkorte@pestdefense.com www.pestdefence.com HomeTeam Pest Defense - Pest and Termite Solutions HomeTeam Pest Defense is the #1 builder pest management company and offers the Taexx® built-in pest control system to homebuilders. The system targets household pests using perforated distribution lines installed in designated walls during home construction. A HomeTeam technician services the system from ports located on the outside. For termite protection, HomeTeam applies a termiticide to the wood framing supports during construction and installs Sentricon, an in-ground baiting system that offers long-lasting protection from subterranean termites. For more information, call: 972.408.2400.

ICI Construction, Inc.

Booth 21 5057 Keller Springs Rd, Suite 200, Addison, TX 75001 Tel: 972.387.8000 x 108 Fax: 972.866.0023 Contact: Steve Williams, Vice President Email: swilliams@icidallas.com www.icidallas.com ICI Construction is a 25 year old General Construction firm with revenues in the $125 million range. Our Multi-Family Division is accustomed to working with all types of financing programs, including: tax credit, housing bonds, conventional and HUD. We provide a complete range of services to the developer from prelimenary budgeting to value-engineering that ensure your project stays within budget. Our company has been built on our ability to exceed our customer’s expectations.

|

exhibitors

Insgroup, Inc.

Booth 11 1455 West Loop South, 9th Floor, Houston, TX 77027 Office: 713.860.8840 Fax: 713.860.8839 Contact: Philip B. Wise Email: pwise@insgroup.net www.insgroup.net Insgroup places all lines of commercial Property and Casualty Insurance, Group Medical & Supplemental Benefits Insurance, provides Risk Management Consulting, and Surety Bonding Services. In addition to insurance program design and placement, we provide valued added services aimed at reducing your total cost of risk. These services include claims management, safety & loss prevention consulting, and alternative risk transfer consulting. Providing “first class” service to our clients is our #1 priority. We welcome your inquiries and look forward to working with you.

Inter-Faith GROUP

Booth 24 3131 West Alabama, Suite 300, Houston, TX 77098 Office: 713.526.6634 Fax: 713.526.7019 Contact: Christine DeCuir - Marketing Manager Email: cdecuir@ti-f.org www. TheInterFaithGroup.org Inter-Faith GROUP is a non-profit dedicated to impacting communities and their residents. We own, manage and/or provide resident services to affordable housing communities across the country. We offer the assurance that other agencies cannot because of our balanced perspective, flexible operations and visionary staff.

James Hardie Building Products

Booth 39 26300 La Alameda, Ste 400, Mission Viejo, CA 92691 Tel: 949.348.4565 Fax: 949.367.0185 Contact: Denise Uselding, Marketing Coordinator Email: denise.uselding@jameshardie.com www.jameshardie.com James Hardie Building Products is a world leader in Fiber Cement Siding and Backerboard with several manufacturing plants in the U.S. and abroad. Lightweight and resilient, James Hardie® Products are rare in that they combine beauty and durability and also are considered “Green and Sustainable” by industry professionals. Our siding is the most popular brand of siding in America and can be found on over 4 million homes.

www.texashousingconference.org

Texas Housing Conference

|

51

52

|

Texas Housing Conference

www.texashousingconference.org

THC 2010

|

exhibitors

Locke Lord Liddell & Bissell

O’Connor & Associates

Locke Lord Bissell & Liddell LLP is a full-service, national law firm with offices in Atlanta, Austin, Chicago, Dallas, Houston, London, Los Angeles, New Orleans, New York, Sacramento, San Francisco and Washington, D.C. With an expanded geographic scope, and a national reputation in complex litigation, regulatory and transactional work, Locke Lord is focused on achieving client success as a team. Our clients range from Fortune 500 companies and middle market public and private companies to start-ups and emerging businesses.

O’Connor & Associates offers comprehensive appraisal and consulting services for affordable housing projects that exceed your expectations. Our dedicated staff of appraisers and market analysts specializes in multifamily housing, both affordable and market-rate.

Booth 34 100 Congress Ave, Suite 300, Austin, TX 78701 Tel: 512.305.4700 Fax: 512.305.4800 Contact: Cynthia L. Bast, Partner Email: cbast@lockelord.com www.lockelord.com

Novogradac & Company LLP

Booth 30 11044 Research Blvd., Bldg C, Suite 400 Austin, TX 78759 Tel: 512.340.0420 Fax: 512.357.1295 Contacts: George Littlejohn, Partner and/or Susan Wilson, Partner Email: george.littlejohn@novoco.com and/or susan.wilson@novoco.com www.novoco.com Novogradac & Company LLP is a national certified public accounting and consulting firm with 12 offices nationwide.

Our clients represent a broad range of industries, with a major emphasis in the real estate sector. We provide publicly and privately held national enterprises with a full spectrum of audit, tax, valuation, expert witness and litigation support, property compliance and general consulting services and we work extensively in the affordable housing, community development and renewable energy fields.

www.texashousingconference.org

Booth 7 2200 North Loop West, Suite 200, Houston, TX 77018 Tel: 713-375-4279 Fax: 866-491-9165 Contact: Bob Coe Email: bcoe@poconnor.com www.poconnor.com

We have prepared hundreds of market studies for Housing Tax Credit/Private Activity Bond complexes throughout Texas, Louisiana, Mississippi, Alabama and other states. We also have numerous appraisers who are approved HUD MAP certified and experienced in the nuances required to perform Market Analyses, Income/Expense Analyses, and Appraisals for HUD. We are approved in the Houston, San Antonio, Fort Worth, New Orleans, and other HUD offices. We also perform dozens of Rent Comparability Studies (both HUD compliant and marketrate) annually throughout Texas and many other states. We welcome the opportunity to assist you with your consulting and appraisal needs.

Oncor Low-Rise Multifamily Energy Star Program Booth 20 ICF International 7160 N. Dallas Parkway, Suite 340, Plano, TX 75024 Tel: 469.467.4404 Fax: 469.467.4401 Michael Flatt, Senior Associate Email: mflatt@icfi.com www.takealoadofftexas.com

The Oncor Low-Rise Multifamily (LRMF) ENERGY STAR Program awards monetary incentives to developers that commit to certifying individually metered units as ENERGY STAR in Oncor’s service area. Developers of all annual production volumes are eligible. In addition to incentives, developers accepted into the Program can take advantage of training and marketing resources that can also help them leverage their affiliation with ENERGY STAR, a nationally recognized, governmentbacked brand that is the national symbol of energy efficiency.

ICF International implements the ENERGY STAR Low-Rise Multifamily Program as an independent contractor. For more information, please visit www.takealoadofftexas.com

Texas Housing Conference

|

53

exhibitors

| THC 2010

Orion Real Estate Services, Inc.

Pinnacle

Major Real Estate Firm with emphasis on 3rd Party Asset Management for LIHTC, PHA, and other forms of affordable housing.

Pinnacle, with corporate headquarters in Dallas, is the nation’s leader in property management with a portfolio of apartment, office and industrial assets valued at nearly $22 billion, and over 5,000 employees in 42 states and seven countries.

Pinnacle’s multifamily portfolio consists of over 185,000 units including military and affordable housing communities. The company provides owners and investors with a broad scope of services including acquisition, disposition, rehabilitation, property management, leasing, financing, homeowner association management and repositioning of real estate assets. The firm’s clients include more than 235 institutions, pension funds, private partnerships, foreign investors, sole owners and government housing groups in North America, China and Japan. For more information, visit PinnacleAMS.com.

Booth 6 1455 W. Loop South #800, Houston, TX 77027 Tel: 713.622.5844 Fax: 713.622.4762 Contact: Cynthia Barksdale, Regional Vice President Email: cbarksdale@ores.com www.ores.com

Phase Engineering, Inc.

Booth 12 335 West 21st Street, Houston, TX 77008 Tel: 713.476.9844 x 247 Fax: 713.476.9797 Contact: Melanie Edmundson, P.G., Principal Email: Melanie@PhaseEngineering.com www.PhaseEngineering.com Phase Engineering, Inc. is an environmental consulting firm that was founded in 1993 and its licensed staff of Environmental Professionals annually perform over one thousand Phase I, Phase II, asbestos and lead inspections and related environmental services. Phase Engineering successfully works with many TDHCA Tax Credit and HOME Funds applicants on their environmental submittals.

54 54

|

Texas Texas Housing Housing Conference Conference

Booth 31 5910 N. Central Expressway, 11th Floor, Dallas, TX 75206 Tel: 214.891.1402 Fax: 214.890.8210 Contact: Joel K. Oldham IV, Regional President Email: koldham@prmc.com www.pinnacleams.com

About the Pinnacle Family of Companies The Pinnacle Family includes Pinnacle, the nation’s leader in multifamily property management, managing a portfolio of multi-family and commercial assets valued at nearly $22 billion, with over 5,000 employees in 42 states and seven countries. The Family also includes Pinnacle Capital, Pinnacle Global Capital, Pinnacle Development and a number of other investment equity and service providers. For more information, visit PinnacleAMS.com.

www.texashousingconference.org www.texashousingconference.org

THC 2010 PNC Real Estate

Booth 3 575 Market St., 28th Floor, San Francisco, CA. 94105 Direct: 415.733.1514 Main: 415.733.1500 Fax: 415.733.1555 Contact: Julie Tyler Email: julie.tyler@pnc.com www.pnc.com/mfc PNC is a leading provider of commercial real estate finance solutions nationwide. PNC MultiFamily Capital, PNC ARCS, and Red Capital Group, part of PNC’s Financial Services Group, provide LIHTC and HTC tax credit equity investments and FHA, Freddie Mac and Fannie Mae financing to developers and operators of affordable and market rate multifamily housing, senior housing, and healthcare facilities.

|

exhibitors

Regions Bank Corporate Trust

Booth 13 1111 W Mockingbird Lane, Ste. 1200, Dallas, TX 75247 Mark Dault, Business Development - Vice President Tel: 214.678.2577 or Cell 214.284.6759 Fax: 214.678.3992 Email: mark.dault@regions.com www.regions.com For over 75 years, the Corporate Trust Services Group at Regions Bank has focused on municipal bond business.

In this regard, Regions’ goal has been consistent and straightforward – to be the best trustee/paying agent/bond proceeds depository bank in the municipal bond world.

We invite you to experience our exemplary level of service through our dedicated relationship managers who have extensive expertise serving as Trustee on single family and multifamily bond issues.

Raymond James Tax Credit Funds, Inc.

Booth 14 880 Carillon Parkway, St. Petersburg, FL 33716 Tel: 727.567.5014 Fax: 727.567.8455 Contact: Gary Robinson Vice President - Director of Acquisitions Email: gary.k.robinson@raymondjames.com www.rjtcf.com Raymond James Tax Credit Funds (RJTCF) is a wholly-owned subsidiary of Raymond James Financial, Inc. (NYSE-RJF). RJTCF has served both investors’ and developer’s needs managing approximately $4 billion in assets for more than 1,200 properties in 43 states since the inception of the tax credit program.

RBC Capital Markets

Booth 28 600 Superior Ave, Suite 2300, Cleveland, OH 44114 Contact: Dan Kierce, Regional Director Tel: 216.875.6043 Fax: 216.875.2612 Email: daniel.kierce@rbc.com www.rbc.com RBC Capital Markets’ Tax Credit Equity Group (TCEG) provides a complete range of finance solutions to meet the needs of developers, investors and public authorities. We offer a comprehensive suite of debt, equity and credit products. We have invested more than $3 billion of equity in 500 affordable and historic multifamily housing developments. We provide investors with full asset management and reporting services. Our experienced professionals strive to identify strategic investments and design equity structures that serve the long-term interests of all our partners in LIHTC, HTC, NMTC, and RETC

www.texashousingconference.org

Texas Housing Conference

|

55

exhibitors

| THC 2010

Reznick Group, P.C.

Booth 1 100 Congress Ave, Suite 480, Austin, TX 78701 Tel: 512.494.9100 Fax: 512.494.9101 Contact: Tina Savoy, Marketing Email: tina.savoy-ross@reznickgroup.com www.reznickgroup.com Reznick Group provides accounting, tax and business advisory services nationally. For over 30 years our real estate professionals have provided a full range of specialized services to developers, owners, investors, lenders, syndicators, government agencies and nonprofits. Key services include audit and assurance, tax advisory - including historic, new markets, low-income housing tax credits and tax exempt bond; due dilligence, financial advisory, management advisory, state and local tax, transaction structuring and real estate, and market-to-market. For more information visit www. reznickgroup.com.

Sterling Bank

Booth 36 919 Milam St., Ste. 550, Houston, TX 77002 Tel: 713.507.4933 Fax: 713.507.7829 Contact: Mahesh Aiyer, Senior Vice President - Community Development Banking Email: Mahesh.Aiyer@banksterling.com www.banksterling.com Texas-based Sterling Bank has total assets of $5 billion and operates 57 full-service banking centers in Houston, Dallas-Ft. Worth, and San Antonio. The bank specializes in relationship banking, serving all the banking needs of Texas businesses, as well as the owners, their families and employees, and Sterling’s banking center neighbors. Sterling Bank is a subsidiary of Sterling Bancshares, Inc., whose common stock is traded through the NASDAQ Global Select Market under the symbol “SBIB”.

Shackelford, Melton & McKinley, LLP

Booth 37 3333 Lee Parkway, Tenth Floor, Dallas, TX 75219 Tel: 214.780.1400 Fax: 214.780.1401 Contact: Sonia De Leon-Moore, Marketing Director Email: sdeleon@shacklaw.net www.shacklaw.net Shackelford, Melton & McKinley specializes in all aspects of real estate ownership, leasing, financing, and development of various real estate products, including multifamily, retail, office, mixed-use, golf properties and land, including the acquisition, development, financing and regulatory processes of affordable housing projects.

56

|

Texas Housing Conference

www.texashousingconference.org

exhibitors

| THC 2010 Texas Department of Housing and Community Affairs

Booth 8 P.O. Box 13941, Austin, TX 78711 Tel: 512.475.4542 Contact: Michael Lyttle, Policy and Public Affairs Director Email: michael.lyttle@tdhca.state.tx.us www.tdhca.state.tx.us The Texas Department of Housing and Community Affairs is the state agency responsible for affordable housing, community and energy assistance programs, and colonia activities. The Department currently administers $2 billion through for-profit, nonprofit, and local government partnerships to deliver local housing and community-based opportunities and assistance to Texans in need.

United Apartment Group

Booth 26 2511 N. Loop 1604 W #202, San Antonio, TX 78258 Tel: 210.492.1570 Fax: 210.479.7015 Contact: Gina Livingston, Administrator Email: gina.livingston@uaginc.com www.uaginc.com Since UAG was established in 1995, our reputation for highest quality property management has grown – primarily because we manage investments as if they were our own. The yardstick for our success has never been the number of properties managed, but rather improvement in the quality and market value of our clients’ investments.

US Bank

Booth 23 5555 San Felipe, 11th Floor, Houston, TX 77056 Tel: 713.235.9208 Fax: 713.235.9213 Contact: Steven Finklea, Vice President Email: steven.finklea@usbank.com www.usbank.com U.S. Bank is a valued service provider for a variety of corporate and municipal financings, including a wide variety of escrow services. Our experienced professionals understand the complexities of these transactions and use their expertise, combined with the latest technology available, to meet each customer’s needs and fulfill their expectations for timeliness and accuracy. Experience our superior service and make U.S. Bank your provider of choice.

58 58

|

Texas Texas Housing Housing Conference Conference

www.texashousingconference.org

THC 2010

|

exhibitors

U.S. Department of Housing and Urban Development

Whirlpool

We get affordable. Since January 2009, FHA has facilitated mortgage financing for a dozen LIHTC projects across Texas.

These projects represent over 1,700 units with an insured risk of nearly $50 million.

Whirlool Corporation is the world’s leading manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion, more than 73,000 employees, and approximately 70 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Gladiator and other major brand names to consumers in nearly every country around the world. Whirlpool Corporation works to exceed expectations with appliances that help building professionals create homes of distinction.

Booth 42 801 Cherry St., Suite 2500, Unit 45, Fort Worth, TX 76102 Tel: 817.978.5766 Fax: 817.978.6008 Contact: Michael Backman, Forth Worth Multifamily HUB Director Email: michael.b.backman@hud.gov www.hud.gov

We close so many deals because our amortization periods and debt service ratios are unmatched in the industry - and our permanent financing feature eliminates the headache of converting contruction loans. Our offices in Fort Worth, Houston, and San Antonio understand your deadlines and make affordable housing happen.

Wells Fargo Bank, N.A.

Booth 33 420 Montgomery, San Francisco, CA 94163 www.wellsfargo.com/affordablehousing Wells Fargo Community Lending and Investment* are committed leaders in developing investment and lending businesses that support economic development, job creation, and affordable housing through LIHTC, historical tax credits, and New Market Tax Credits. We provide flexible construction and permanent financing and investments in affordable housing, historical properties, and properties in low-income communities.

www.texashousingconference.org

Booth 40 12609A Tree Line Dr., Austin, TX 78729 Contacts: Leslie Knox, Tel: 512.627.6152 leslie_a_knox@whirlpool.com Ben Meekma, Tel: 414.807.7317 or 512-627-6152 www.insideadvantage.com

The company’s The Inside Advantage™ Program offers: Powerful Brands that homebuyers trust for quality, performance, reliability and sustainability; Innovative Products that distinguish builders’ developments and fulfill homebuyers’ dreams and expectations; Market Insight that helps builders stay ahead of the curve on consumer behavior, government regulations, home industry trends and sustainability issues; and Targeted Services that take care of homebuyers and building professionals from presale to post-close. For more information, please visit insideadvantage.com or call 800.952.2537.

Texas Housing Conference

|

59

Insurance News Texas Affiliation of Affordable Housing Providers Summer 2010

this issue: Affordable Housing Insurance Solutions

About Insgroup

Finally, an Affordable Housing Insurance Solution This summer, Insgroup is offering a Property & Casualty insurance solution designed specifically for the affordable housing community in Texas. Our solution is unique in that it provides individual insurance policies for each policy holder, thus no sharing of limits.

The insurance policies are written by a group of selected “A” rated National carriers (Standard Markets) and a few features include: Lowest rates in the marketplace (Comparable to rates found on Class A market rate properties) Coverage available in all 50 States, no limit to # of units Varying deductibles on property Flood/Earthquake coverage available Agreed Amount, No Co-Insurance Ordinance or Law coverage Extended Period of Indemnity Broad form general liability coverage with $0 deductible available This insurance is specifically tailored to address the entire development cycle, from construction liability to builders risk to permanent insurance.

And if it doesn’t already sound enticing enough, the underwriting requirements necessary to obtain a proposal are very simple. Call today to better protect your assets.

Founded in 1978 Multi-Family/Affordable Specialist Top 100 Privately Held Firm 80 Insurance Professionals Long Standing TAAHP Member

Contact Insgroup 1455 West Loop South 9th Floor Houston, TX 77027 (800) 713-4711 www.insgroup.net Please ask for: David P. Kapiloff Brian J. Kapiloff Philip B. Wise

The greatest rewards come from helping others.

In the affordable housing industry, Reznick Group feels right at home.

As a top 20 national CPA firm, we’ve been helping developers, lenders and investors in affordable housing achieve financial success for more than 30 years.

By sharing our insights on low-income housing tax credits, FHA and HUD programs, and other financing opportunities, we help the affordable housing industry provide safe and decent housing for the communities that need it most.

What could be more rewarding?

To learn more about Reznick Group and our services for the affordable housing industry, visit: www.reznickgroup.com/affordablehousing