Texas Affordable
Housing
CohnReznick is an independent member of Nexia International
Magazine
2 0 1 6 T e x a s A f f o r d a b l e H o u s i n g M a g a z i n e
Brays Crossing New Hope Housing
Issue 7 - 2016
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Legal Counsel for the Development of Affordable Housing
THE COATS ROSE AFFORDABLE HOUSING GROUP has extensive experience in affordable housing development. We represent for-profit developers, non-profit developers and public housing authorities utilizing a variety of financing techniques, including low income housing tax credits, CDBG Disaster Recovery Funding, private activity bonds, historic tax credits, HUD programs (including RAD), investment syndications and conventional financing. Our attorneys routinely structure complex transactions providing comprehensive solutions that utilize all aspects of financing in the affordable housing arena. We are focused on the development of affordable housing and inner city revitalization.
Your Goals. Our Purpose. Houston | Austin | Dallas | San AntonioT e| xNew a s AOrleans ffordable Phone: 713.651.0111 | coatsrose.com
Housing Magazine
1
PROUD TO SUPPORT THE TEXAS HOUSING CONFERENCE
Reaching New Heights. Enterprise and Bellwether Enterprise, a leading national team, provide a powerful combination of capital solutions. 19 million low-income families are homeless or paying more than half their income on housing. From Low-Income Housing Tax Credit and New Markets Tax Credit equity, to long-term conventional and affordable housing debt products, we put capital to work for our clients and our communities. That’s Capital on a Mission.
What’s Your Dream? What’s Your Plan? Let’s work together to strengthen our community for a brighter future. Aron Weisner
Phil Melton
Vice President, Syndication Enterprise Community Investment, Inc. 410.772.2621 aweisner@enterprisecommunity.com
Executive Vice President Bellwether Enterprise Real Estate Capital, LLC 469.729.7677 pmelton@bwecap.com
www.EnterpriseCommunity.com
www.BellwetherEnterprise.com
Affordable housing isn’t just a goal of ours; it’s a result. Partnering with investors and developers across the country, CREA has provided equity to 337 LIHTC properties in communities throughout the country. We are invested in affordable housing. Proud to support the Texas Housing Conference City Real Estate Advisors
Community Development: Lisa Albers | 918.588.6420 Corporate Trust: Pamela Black | 817.348.5797
© 2016 Bank of Texas, a division of BOKF, NA. Member FDIC. Equal Housing Lender. 2 T exas affordable Housi ng M agazi ne
Connect With Us
CityRealEstateAdvisors.com | @CREA_LLC Austin | Boston | Indianapolis | Portland | San Diego | St. Petersburg
Rachel Thomas, VP - Acquisitions
Direct: 512.861.4081 | Cell: 512.466.6742 rthomas@cityrealestateadvisors.com
Texas affo rd able Housing Magazine
3
PROUD TO SUPPORT THE TEXAS HOUSING CONFERENCE
Reaching New Heights. Enterprise and Bellwether Enterprise, a leading national team, provide a powerful combination of capital solutions. 19 million low-income families are homeless or paying more than half their income on housing. From Low-Income Housing Tax Credit and New Markets Tax Credit equity, to long-term conventional and affordable housing debt products, we put capital to work for our clients and our communities. That’s Capital on a Mission.
What’s Your Dream? What’s Your Plan? Let’s work together to strengthen our community for a brighter future. Aron Weisner
Phil Melton
Vice President, Syndication Enterprise Community Investment, Inc. 410.772.2621 aweisner@enterprisecommunity.com
Executive Vice President Bellwether Enterprise Real Estate Capital, LLC 469.729.7677 pmelton@bwecap.com
www.EnterpriseCommunity.com
www.BellwetherEnterprise.com
Affordable housing isn’t just a goal of ours; it’s a result. Partnering with investors and developers across the country, CREA has provided equity to 337 LIHTC properties in communities throughout the country. We are invested in affordable housing. Proud to support the Texas Housing Conference City Real Estate Advisors
Community Development: Lisa Albers | 918.588.6420 Corporate Trust: Pamela Black | 817.348.5797
© 2016 Bank of Texas, a division of BOKF, NA. Member FDIC. Equal Housing Lender. 2 T exas affordable Housi ng M agazi ne
Connect With Us
CityRealEstateAdvisors.com | @CREA_LLC Austin | Boston | Indianapolis | Portland | San Diego | St. Petersburg
Rachel Thomas, VP - Acquisitions
Direct: 512.861.4081 | Cell: 512.466.6742 rthomas@cityrealestateadvisors.com
Texas affo rd able Housing Magazine
3
D P C
DIAMOND
Property Consultants, Inc.
THE METER’S RUNNING ON YOUR UTILITY ALLOWANCES... There’s a good chance your utility allowances are costing you too much. The DPC Utility Allowance Program gives you an option that could lower these costs and improve your operating income. DPC has worked with housing finance agencies, local utility providers, and tax credit properties in multiple states across the country. Give us a call and find out if you’re spending more than you should and if our program is right for you.
It’s easy to understand,
It meets LIHTC compliance guidelines,
It doesn’t cost anything to find out if you can save money, and… Tax credit properties that choose DPC invest a fraction of what they save to put the program in place.
Serving the Multi-Family Industry since 1999 972 475 9977 ext 101 jbeats@dpcservices.net 4
T exas Affordable Housi ng M agazi ne
moving affordable housing forward As leaders in the field for more than 40 years, we proudly support TAAHP’s continuing commitment to affordable housing development and preservation.
799 9th Street NW | Suite 500 | Washington, DC nixonpeabody.com/affordable_housing | @Nixonpeabodyllp
Texas Affo rd able Housing Magazine
5
D P C
DIAMOND
Property Consultants, Inc.
THE METER’S RUNNING ON YOUR UTILITY ALLOWANCES... There’s a good chance your utility allowances are costing you too much. The DPC Utility Allowance Program gives you an option that could lower these costs and improve your operating income. DPC has worked with housing finance agencies, local utility providers, and tax credit properties in multiple states across the country. Give us a call and find out if you’re spending more than you should and if our program is right for you.
It’s easy to understand,
It meets LIHTC compliance guidelines,
It doesn’t cost anything to find out if you can save money, and… Tax credit properties that choose DPC invest a fraction of what they save to put the program in place.
Serving the Multi-Family Industry since 1999 972 475 9977 ext 101 jbeats@dpcservices.net 4
T exas Affordable Housi ng M agazi ne
moving affordable housing forward As leaders in the field for more than 40 years, we proudly support TAAHP’s continuing commitment to affordable housing development and preservation.
799 9th Street NW | Suite 500 | Washington, DC nixonpeabody.com/affordable_housing | @Nixonpeabodyllp
Texas Affo rd able Housing Magazine
5
Tap into National Church Residences property management can help you to a great bottom line with our proven track record for: u
Solid measures of success
u
Outstanding site staff development
u
Superior resident retention
u
Cost-effective local marketing strategies
u
Excellent maintenance
u
Detailed attention to best practices in preserving, improving and protecting your property
u
Expert and timely financial reporting
u
Compliance and regulatory proficiency
u
Home for Life,SM helping seniors live longer at home
$50 Million for Aquisitions National Church Residences is actively acquiring senior properties through our quick strike $50 million Affordable Housing Investment Fund. Considering
our property management expertise that’s as big as all of
From single-project transactions to portfolio-wide solutions, Citi Community Capital combines unparalleled community development expertise with industry-leading capital markets capabilities to offer financial solutions to preserve and build stronger communities.
Call Christina Sanchez at 888-493-9442 National Church Residences 18838 Stone Oak Parkway, Ste 206 San Antonio, TX 78258 NationalChurchResidences.org
Citi. Your Community Development Partner. citicommunitycapital.com Mahesh Aiyer (713) 752-5046 mahesh.aiyer@citi.com
a sale? Let’s talk today! EQUAL HOUSING OPPORTUNITY
2016 Citibank, N.A. All rights reserved. Citi and Arc Design is a registered service mark of Citigroup Inc.
Cevallos Lofts San Antonio, TX
6
T exas affordable Housi ng M agazi ne
Texas affo rd able Housing Magazine
7
Tap into National Church Residences property management can help you to a great bottom line with our proven track record for: u
Solid measures of success
u
Outstanding site staff development
u
Superior resident retention
u
Cost-effective local marketing strategies
u
Excellent maintenance
u
Detailed attention to best practices in preserving, improving and protecting your property
u
Expert and timely financial reporting
u
Compliance and regulatory proficiency
u
Home for Life,SM helping seniors live longer at home
$50 Million for Aquisitions National Church Residences is actively acquiring senior properties through our quick strike $50 million Affordable Housing Investment Fund. Considering
our property management expertise that’s as big as all of
From single-project transactions to portfolio-wide solutions, Citi Community Capital combines unparalleled community development expertise with industry-leading capital markets capabilities to offer financial solutions to preserve and build stronger communities.
Call Christina Sanchez at 888-493-9442 National Church Residences 18838 Stone Oak Parkway, Ste 206 San Antonio, TX 78258 NationalChurchResidences.org
Citi. Your Community Development Partner. citicommunitycapital.com Mahesh Aiyer (713) 752-5046 mahesh.aiyer@citi.com
a sale? Let’s talk today! EQUAL HOUSING OPPORTUNITY
2016 Citibank, N.A. All rights reserved. Citi and Arc Design is a registered service mark of Citigroup Inc.
Cevallos Lofts San Antonio, TX
6
T exas affordable Housi ng M agazi ne
Texas affo rd able Housing Magazine
7
t a B l E
generAl
Contributors articles and ads
9
Leadership 9 get to know the dedicated leaders who make it all happen Housing spotlight 26 award-winning affordable housing developments
8
o F
c o n t E n t s
a D v E r t i s E r s
F e At u r e s
ConFerenCe
sneak Preview of a 10 Cohnreznick report: liHTC Property operating expense analysis
schedule At-A-Glance Take a look at this year’s agenda and TaaHP in
66
education Program engage and expand your housing knowledge
76
Housing stimulus: fHa lowers rates for affordable and energy efficient Properties
15
The Texas High-opportunity & fair Housing debate
22
T exas affordable Housi ng M agazi ne
exhibits 100 network and connect with new business relationships 2016 Partners 102 special thanks to all who make the conference a reality!
&
c o n t r i B u t o r s
ADVertisers
ContriButors
s tA F F
alden Capital Partners alliant Capital allied orion group bank of america Merrill lynch bank of Texas bbVa Compass bellwether enterprise real estate Capital berkadia betco Capital one, n.a. Cbre affordable Housing CenterPoint energy Churchill stateside group, llC Citi Community Capital City real estate advisors Coats rose, P.C. Cohnreznick llP diamond Property Consultants, inc dominium goodman Manufacturing Company, l.P. greystone Hudson Housing Capital Katopody, llC Keybank locke lord llP national Church residences national equity fund, inc. nixon Peabody novogradac & Company llP Portfolio resident services & inter-faith group r4 Capital llC raymond James Tax Credit funds rbC Capital Markets redstone equity Partners llC regions bank rinnai america Corp ryan Companies shackelford, bowen, McKinley & norton, llP southeast Texas HfC stifel, nicolaus & Company, inc. sVn affordable | levental realty TalHfa TdHCa The richman group affordable Housing Corporation Tidwell group Ward, getz & associates llP Wells fargo Wilmington Trust na
Matt barcello of Cohnreznick liHTC Property operating expense analysis pg. 10-12
executive Director frank Jackson fjackson@taahp.org
orin Parvin and Henry Tracy of lancaster Pollard Mortgage Co. Housing stimulus: fHa lowers rates for affordable and energy efficient Properties pg. 15-17 scott Marks of Coats rose, P.C. The Texas High-opportunity & fair Housing debate pg. 22-24
Member services Director lauren staton lstaton@taahp.org Policy Director Tanya lavelle tlavelle@taahp.org Conference Director & Magazine editor Kristi sutterfield ksutterfield@taahp.org Conference Intern John Chambless jchambless@taahp.org Creative Design: bill Carson design bc@bcdtexas.com
Questions & Feedback:
221 E. 9TH STREET SUITE 408 AUSTIN, TX 78701 512.476.9901 info@taahp.org
www.taahp.org Texas affo rd able Housing Magazine
9
t a B l E
generAl
Contributors articles and ads
9
Leadership 9 get to know the dedicated leaders who make it all happen Housing spotlight 26 award-winning affordable housing developments
8
o F
c o n t E n t s
a D v E r t i s E r s
F e At u r e s
ConFerenCe
sneak Preview of a 10 Cohnreznick report: liHTC Property operating expense analysis
schedule At-A-Glance Take a look at this year’s agenda and TaaHP in
66
education Program engage and expand your housing knowledge
76
Housing stimulus: fHa lowers rates for affordable and energy efficient Properties
15
The Texas High-opportunity & fair Housing debate
22
T exas affordable Housi ng M agazi ne
exhibits 100 network and connect with new business relationships 2016 Partners 102 special thanks to all who make the conference a reality!
&
c o n t r i B u t o r s
ADVertisers
ContriButors
s tA F F
alden Capital Partners alliant Capital allied orion group bank of america Merrill lynch bank of Texas bbVa Compass bellwether enterprise real estate Capital berkadia betco Capital one, n.a. Cbre affordable Housing CenterPoint energy Churchill stateside group, llC Citi Community Capital City real estate advisors Coats rose, P.C. Cohnreznick llP diamond Property Consultants, inc dominium goodman Manufacturing Company, l.P. greystone Hudson Housing Capital Katopody, llC Keybank locke lord llP national Church residences national equity fund, inc. nixon Peabody novogradac & Company llP Portfolio resident services & inter-faith group r4 Capital llC raymond James Tax Credit funds rbC Capital Markets redstone equity Partners llC regions bank rinnai america Corp ryan Companies shackelford, bowen, McKinley & norton, llP southeast Texas HfC stifel, nicolaus & Company, inc. sVn affordable | levental realty TalHfa TdHCa The richman group affordable Housing Corporation Tidwell group Ward, getz & associates llP Wells fargo Wilmington Trust na
Matt barcello of Cohnreznick liHTC Property operating expense analysis pg. 10-12
executive Director frank Jackson fjackson@taahp.org
orin Parvin and Henry Tracy of lancaster Pollard Mortgage Co. Housing stimulus: fHa lowers rates for affordable and energy efficient Properties pg. 15-17 scott Marks of Coats rose, P.C. The Texas High-opportunity & fair Housing debate pg. 22-24
Member services Director lauren staton lstaton@taahp.org Policy Director Tanya lavelle tlavelle@taahp.org Conference Director & Magazine editor Kristi sutterfield ksutterfield@taahp.org Conference Intern John Chambless jchambless@taahp.org Creative Design: bill Carson design bc@bcdtexas.com
Questions & Feedback:
221 E. 9TH STREET SUITE 408 AUSTIN, TX 78701 512.476.9901 info@taahp.org
www.taahp.org Texas affo rd able Housing Magazine
9
Sneak Preview of a CohnReznick Report: LIHTC Property Operating Expense Analysis F
or the past 15 years, members of CohnReznick’s
Adapted from the published article in Tax Credit Advisor magazine (July 2016) with additional analysis of Texas properties.
By Matt Barcello, CohnReznick
the aggregated breadth of data, we were impressed
Tax Credit Investment Services group have worked
by the potential value of the data before us. The forth-
on housing credit performance studies in various
coming CohnReznick report, “A Low-Income Housing
capacities, and in that period, we have witnessed
Tax Credit Property Operating Expense Analysis,�
the pool of properties surveyed balloon from 5,000 to
attempts to scratch the surface of what is possible to
more than 20,000 (the Low-Income Housing Tax Credit
glean from this wealth of information, and this article
by Texas properties in our data set were largely consistent with the national medians. The
Program at Year 30: Recent Investment Performance
provides an initial overview of our findings.
most striking differences can be observed in repairs and maintenance and utility line items. In
2013-2014). Close ties and frequent contact with the data pro-
Data was requested in the custom format that each individual provider tracks operating expenses
viders have allowed us to continually add new data
in their portfolios. Because of the myriad methods of
points for analysis. Increasingly, operating expenses
categorizing expenses, segregating charts of ac-
are a concern among our clients. How do certain cat-
count into comparable categories was a painstaking
egories trend from year to year? What are the most
exercise. Once complete, the main categories on
volatile expense categories? What are reasonable
which we focused the analysis were: administrative,
repair and maintenance expenses for an acquisition
insurance, property management fee, property tax,
rehab? In an attempt to answer these questions and
repair & maintenance, salary & benefits, and utilities.
others, our most recent data request included a sur-
Per unit per annum.
vey of property level operating expense data, and we
per annum operating expenses for 2014 (not including
pense data for more than 15,000 stabilized properties.
replacement reserves) were $5,336 at the national
We also were able to analyze the data for every state
level. When isolating properties in Texas, the me-
and US territory. For instance, we compiled data for
dian gross per unit per annum operating expenses
more than 1,000 stabilized properties in Texas com-
were $4,494, 16% less than the national average. The
prising nearly 130,000 total units.
following graph illustrates how the gross expense
operating expense data to better underwrite and
the majority of gross expenses and the same can be said for Texas. When we look at the gross expenses by category for Texas, we find that, in most categories, median expenses incurred
both instances, Texas properties, on a median basis, reported greater than 14% savings relative to the national expense levels.
Based on the data provided, median gross per unit
were pleased to have received viable operating ex-
Data providers actively mine their portfolios for
From a national median perspective, salary, repair and maintenance, and utilities comprised
While national data and data aggreegated by operation expense category serves as a starting point, we found the most interesting analyses borne out through statewide analysis, and by exploring other variables. For instance, a large part of the story behind property tax expense cannot be seen at the national level.
is divided amongst the various categories and how Texas compares to the national medians.
evaluate future property investments. Upon seeing
10
Texas affordable Housi ng M agazi ne
Texas affo rd abl e Housing Magazine
11
Sneak Preview of a CohnReznick Report: LIHTC Property Operating Expense Analysis F
or the past 15 years, members of CohnReznick’s
Adapted from the published article in Tax Credit Advisor magazine (July 2016) with additional analysis of Texas properties.
By Matt Barcello, CohnReznick
the aggregated breadth of data, we were impressed
Tax Credit Investment Services group have worked
by the potential value of the data before us. The forth-
on housing credit performance studies in various
coming CohnReznick report, “A Low-Income Housing
capacities, and in that period, we have witnessed
Tax Credit Property Operating Expense Analysis,�
the pool of properties surveyed balloon from 5,000 to
attempts to scratch the surface of what is possible to
more than 20,000 (the Low-Income Housing Tax Credit
glean from this wealth of information, and this article
by Texas properties in our data set were largely consistent with the national medians. The
Program at Year 30: Recent Investment Performance
provides an initial overview of our findings.
most striking differences can be observed in repairs and maintenance and utility line items. In
2013-2014). Close ties and frequent contact with the data pro-
Data was requested in the custom format that each individual provider tracks operating expenses
viders have allowed us to continually add new data
in their portfolios. Because of the myriad methods of
points for analysis. Increasingly, operating expenses
categorizing expenses, segregating charts of ac-
are a concern among our clients. How do certain cat-
count into comparable categories was a painstaking
egories trend from year to year? What are the most
exercise. Once complete, the main categories on
volatile expense categories? What are reasonable
which we focused the analysis were: administrative,
repair and maintenance expenses for an acquisition
insurance, property management fee, property tax,
rehab? In an attempt to answer these questions and
repair & maintenance, salary & benefits, and utilities.
others, our most recent data request included a sur-
Per unit per annum.
vey of property level operating expense data, and we
per annum operating expenses for 2014 (not including
pense data for more than 15,000 stabilized properties.
replacement reserves) were $5,336 at the national
We also were able to analyze the data for every state
level. When isolating properties in Texas, the me-
and US territory. For instance, we compiled data for
dian gross per unit per annum operating expenses
more than 1,000 stabilized properties in Texas com-
were $4,494, 16% less than the national average. The
prising nearly 130,000 total units.
following graph illustrates how the gross expense
operating expense data to better underwrite and
the majority of gross expenses and the same can be said for Texas. When we look at the gross expenses by category for Texas, we find that, in most categories, median expenses incurred
both instances, Texas properties, on a median basis, reported greater than 14% savings relative to the national expense levels.
Based on the data provided, median gross per unit
were pleased to have received viable operating ex-
Data providers actively mine their portfolios for
From a national median perspective, salary, repair and maintenance, and utilities comprised
While national data and data aggreegated by operation expense category serves as a starting point, we found the most interesting analyses borne out through statewide analysis, and by exploring other variables. For instance, a large part of the story behind property tax expense cannot be seen at the national level.
is divided amongst the various categories and how Texas compares to the national medians.
evaluate future property investments. Upon seeing
10
Texas affordable Housi ng M agazi ne
Texas affo rd abl e Housing Magazine
11
Sneak Preview of a CohnReznick Report: LIHTC Property Operating Expense Analysis
Property Tax The data show that property tax expenses are significantly impacted by a state’s stance on including the value of housing credits in a property’s valuation and the availability of property tax abatements or exemptions. For instance, Idaho is the only state where there is agreement that the credits should be considered in property valuations: not surprisingly, the Idaho housing credit portfolio ranks among the highest property burden as a percentage of overall gross expenses (15%+). At the other end of the property tax spectrum, California and Washington allow for wide-ranging statutory property tax abatements, and the data show that these states experience the least property tax burden (less than 4%) as a percentage of total gross expenses. The large concentration of California properties in the overall portfolio (11%), and the fact that a significant portion of these properties have some form of property tax abatement (58%), has a significant impact on the overall national median per unit property tax expense. Texas, however, is one of the many states where there is no current guidance from either the legislature or court precedent regarding the inclusion of credit value in property valuations; as such, property valuation can differ from municipality to municipality.
12
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
13
Sneak Preview of a CohnReznick Report: LIHTC Property Operating Expense Analysis
Property Tax The data show that property tax expenses are significantly impacted by a state’s stance on including the value of housing credits in a property’s valuation and the availability of property tax abatements or exemptions. For instance, Idaho is the only state where there is agreement that the credits should be considered in property valuations: not surprisingly, the Idaho housing credit portfolio ranks among the highest property burden as a percentage of overall gross expenses (15%+). At the other end of the property tax spectrum, California and Washington allow for wide-ranging statutory property tax abatements, and the data show that these states experience the least property tax burden (less than 4%) as a percentage of total gross expenses. The large concentration of California properties in the overall portfolio (11%), and the fact that a significant portion of these properties have some form of property tax abatement (58%), has a significant impact on the overall national median per unit property tax expense. Texas, however, is one of the many states where there is no current guidance from either the legislature or court precedent regarding the inclusion of credit value in property valuations; as such, property valuation can differ from municipality to municipality.
12
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
13
Housing Stimulus: FHA Lowers Rates for Affordable and Energy Efficient Properties
By Orin Parvin and Henry Tracy
Banking on a brighter future. At BBVA Compass we aren't just in the business of banking, we're in the business of working toward a brighter future for all. In order to keep that promise, we are proud to sponsor the 2016 Texas Housing Conference. We look forward to brightening the lives of those in the communities we serve. #livebright
1-800-COMPASS • bbvacompass.com
Reduce rates, spur activity. That seems to be the thinking in Washington these days regarding the development of affordable and energy efficient multifamily housing. And to those in the housing industry, that thinking is definitely welcomed. In this article, we provide detail on the requirements for obtaining reduced Mortgage Insureance Premium (MIP) rates for both affordable and energy efficient housing. In January of this year, HUD announced new initiatives to further promote the financing of affordable housing and energy efficient housing. Through the reduction of MIP rates for properties in these two categories, HUD is firmly standing behind its mandate to provide affordable, quality housing to renters nationwide. HUD estimates that the rate reductions will equate to the rehabilitation of 12,000 affordable units each year. The new MIP rates went into effect on April 1, 2016, and housing developers are already starting to enjoy the benefits.
BBVA Compass is a trade name of Compass Bank, a member of the BBVA Group. Compass Bank, Member FDIC. Rev. 05/2016 / #3608
14
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
15
Housing Stimulus: FHA Lowers Rates for Affordable and Energy Efficient Properties
By Orin Parvin and Henry Tracy
Banking on a brighter future. At BBVA Compass we aren't just in the business of banking, we're in the business of working toward a brighter future for all. In order to keep that promise, we are proud to sponsor the 2016 Texas Housing Conference. We look forward to brightening the lives of those in the communities we serve. #livebright
1-800-COMPASS • bbvacompass.com
Reduce rates, spur activity. That seems to be the thinking in Washington these days regarding the development of affordable and energy efficient multifamily housing. And to those in the housing industry, that thinking is definitely welcomed. In this article, we provide detail on the requirements for obtaining reduced Mortgage Insureance Premium (MIP) rates for both affordable and energy efficient housing. In January of this year, HUD announced new initiatives to further promote the financing of affordable housing and energy efficient housing. Through the reduction of MIP rates for properties in these two categories, HUD is firmly standing behind its mandate to provide affordable, quality housing to renters nationwide. HUD estimates that the rate reductions will equate to the rehabilitation of 12,000 affordable units each year. The new MIP rates went into effect on April 1, 2016, and housing developers are already starting to enjoy the benefits.
BBVA Compass is a trade name of Compass Bank, a member of the BBVA Group. Compass Bank, Member FDIC. Rev. 05/2016 / #3608
14
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
15
Energy Efficient Housing In addition to promoting affordable housing, FHA is motivated to encourage energy efficient housing. Its new green and energy efficient initiative can be a great option for the new construction or substantial rehabilitation of marketrate projects. With appropriate initial planning, the expectation is that new construction projects can qualify rather easily. For substantial rehabilitation projects, borrowers should research the feasibility of implementing efficiency changes to meet the energy compliance benchmarks. The new MIP rates for all programs under the green and energy efficient designation will be 25 basis points, down from as high as 100 previously (Figure 1).
qualify for the reduced MIP. Substantial rehabilitation projects that wish to qualify for the program will likely need to include significant renovations such as heating and cooling systems, energy efficient windows, modern insulation and appliances. If an energy audit finds the proposed rehabilitation to meet the efficiency requirements, 75% of the projected savings may be recognized by FHA. The savings are eligible in the underwriting process before any changes to the physical plan have occurred, which makes the energy-focused rehabilitation even more attractive. It should be noted, however, that simple kitchen and bathroom renovations are unlikely to meet the required standards and will not
Mortgage Insurance Premiums (MIP) Changes for Green/Energy Efficient Properties Reduced Rates for Affordable Projects In a clear effort to be as inclusive as possible, FHA has reduced mortgage insurance premiums for a broad category of affordable projects. Most projects demonstrating at least a 10% level of affordability will qualify for reduced rates. The lowest MIP rates will be available for the projects that have the highest level of affordability and provide the most affordable housing units. The following criteria outlines FHA’s guidelines for this reduction, which is broken out between two distinct categories. The first, “broadly affordable,” will garner the lowest rates with MIPs of 25 basis points. An “affordable” designation will carry a slightly higher MIP rate of 35 basis points.
Broadly Affordable Designation For these projects, FHA has lowered annual rates to 25 basis points, which is a reduction of 20 or 25 basis points from previous rates. Broadly affordable is defined as housing with: • At least 90% of units covered by a Section (Sec.) 8 project-based rental assistance (PBRA) contract or other federal rental assistance program contract serving very low income residents, with a remaining term of at least 15 years; or • At least 90% of its units covered by an affordability use restriction under the low-income housing tax credit (LIHTC) program or similar state or locally sponsored program. A recorded regulatory agreement must also be in effect for at least 15 years after final endorsement.
Affordable Designation For affordable mixed-income properties that implement partial LIHTC, partial Sec. 8, inclusionary zoning, or other local affordability requirements, FHA has lowered annual rates to 35 basis points. The effective reduction is a 10 to 35 basis point decrease from previous rates. The qualifications for the affordable mixed-income use properties are further detailed as follows:
16
Texas Affordable Housi ng M agazi ne
• Evidence of a deed covenant or housing ordinance on “inclusionary zoning” at the subject property to evidence the affordable unit set-asides. A minimum of 10% of the units must be affordable to a family at 80% area median income (AMI), with rents no more than 30% of the income at that level. The affordability set-aside must be in effect for at least 30 years after final endorsement of the FHAinsured mortgage and be recorded in a regulatory agreement; or • Demonstrate that the project has between 10% and 90% of units covered by a Sec. 8 PBRA contract or other state or federal rental assistance program contract serving very low-income residents, with a remaining term of at least 15 years; or • Demonstrate that the project has between 10% and 90% of its units covered by an affordability use restriction under the LIHTC program or similar state or locally sponsored program, with rents sized at no greater than 30% of the income eligible for occupancy under the LIHTC program, with a recorded regulatory agreement in effect for at least 15 years after final endorsement. • Additionally, the project must also agree to accept voucher holders under Sec. 8 or other federal program voucher holders as residents for vacancies in units not covered by project-based Sec. 8.
Not only has FHA implemented the reduction of the annual MIP rates, but the agency has also lowered the upfront rates from a previous high of 100 basis points to as low as 25 basis points. As affordable units are leaving the system, more than 300,000 per year due to aging stock, FHA is diligently looking to reverse this trend. Furthermore, FHA has demonstrated its concern by implementing several programs in recent years, including the Rental Assistance Demonstration (RAD) program and the LIHTC Pilot Program. We should expect FHA to continue to confront this issue with innovative programs and policies such as the MIP rate reduction.
FHA Multifamily Mortgage Insurance Program
Previous Upfront Capitalized MIP
Current Upfront Capitalized MIP
Previous Annual Capitalized MIP
Current Annual Capitalized MIP
221(d)(4) New Constr/Sub Rehab with Green
45-65 25 45-65 25
207/223(f) Refi or Purchase with Green
100
25
45-60
25
223(a)(7) Refi with Green
50
25
45-50
25
241(a) Supplemental with Green
45-95 25 45-95 25
(Figure 1) FHA is setting participants up for success by including a broad category of energy efficient programs. The inclusivity of this initiative will allow many projects to meet the requirements. Acceptable qualifications for the reduction include six distinct industry recognized standards and leaves the door open for the approval of additional programs as well. The following are programs that will qualify under the initiative: • U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) for Homes, LEED for Homes Midrise and LEED for New Construction • ENERGY STAR • EarthCraft’s House and Multifamily • Earth Advantage New Homes • Greenpoint’s Rated New Home and Rated Existing Home (whole home or whole building label) • National Green Building Standard (NGBS) •Others approved at FHA’s sole discretion
provide recognizable utility savings. Owners engaging in these projects can expect not only the MIP reduction but also reduced operating costs through energy efficient components. This could make the allure of energy efficient building appealing to affordable properties as well. FHA is clearly motivated to make strides in both providing more affordable housing as well as partnering on projects that are highly energy efficient. Expect transactions with these attributes to be very well received. For more information contact Lisa Vecchietti at lvecchietti@lancasterpollard.com or (512) 327-7400.
Seeking early assistance from specialized architects and consultants will be critical to ensure that the design and build appropriately meet the necessary requirements to Texas Affo rd abl e Housing Magazine
17
Energy Efficient Housing In addition to promoting affordable housing, FHA is motivated to encourage energy efficient housing. Its new green and energy efficient initiative can be a great option for the new construction or substantial rehabilitation of marketrate projects. With appropriate initial planning, the expectation is that new construction projects can qualify rather easily. For substantial rehabilitation projects, borrowers should research the feasibility of implementing efficiency changes to meet the energy compliance benchmarks. The new MIP rates for all programs under the green and energy efficient designation will be 25 basis points, down from as high as 100 previously (Figure 1).
qualify for the reduced MIP. Substantial rehabilitation projects that wish to qualify for the program will likely need to include significant renovations such as heating and cooling systems, energy efficient windows, modern insulation and appliances. If an energy audit finds the proposed rehabilitation to meet the efficiency requirements, 75% of the projected savings may be recognized by FHA. The savings are eligible in the underwriting process before any changes to the physical plan have occurred, which makes the energy-focused rehabilitation even more attractive. It should be noted, however, that simple kitchen and bathroom renovations are unlikely to meet the required standards and will not
Mortgage Insurance Premiums (MIP) Changes for Green/Energy Efficient Properties Reduced Rates for Affordable Projects In a clear effort to be as inclusive as possible, FHA has reduced mortgage insurance premiums for a broad category of affordable projects. Most projects demonstrating at least a 10% level of affordability will qualify for reduced rates. The lowest MIP rates will be available for the projects that have the highest level of affordability and provide the most affordable housing units. The following criteria outlines FHA’s guidelines for this reduction, which is broken out between two distinct categories. The first, “broadly affordable,” will garner the lowest rates with MIPs of 25 basis points. An “affordable” designation will carry a slightly higher MIP rate of 35 basis points.
Broadly Affordable Designation For these projects, FHA has lowered annual rates to 25 basis points, which is a reduction of 20 or 25 basis points from previous rates. Broadly affordable is defined as housing with: • At least 90% of units covered by a Section (Sec.) 8 project-based rental assistance (PBRA) contract or other federal rental assistance program contract serving very low income residents, with a remaining term of at least 15 years; or • At least 90% of its units covered by an affordability use restriction under the low-income housing tax credit (LIHTC) program or similar state or locally sponsored program. A recorded regulatory agreement must also be in effect for at least 15 years after final endorsement.
Affordable Designation For affordable mixed-income properties that implement partial LIHTC, partial Sec. 8, inclusionary zoning, or other local affordability requirements, FHA has lowered annual rates to 35 basis points. The effective reduction is a 10 to 35 basis point decrease from previous rates. The qualifications for the affordable mixed-income use properties are further detailed as follows:
16
Texas Affordable Housi ng M agazi ne
• Evidence of a deed covenant or housing ordinance on “inclusionary zoning” at the subject property to evidence the affordable unit set-asides. A minimum of 10% of the units must be affordable to a family at 80% area median income (AMI), with rents no more than 30% of the income at that level. The affordability set-aside must be in effect for at least 30 years after final endorsement of the FHAinsured mortgage and be recorded in a regulatory agreement; or • Demonstrate that the project has between 10% and 90% of units covered by a Sec. 8 PBRA contract or other state or federal rental assistance program contract serving very low-income residents, with a remaining term of at least 15 years; or • Demonstrate that the project has between 10% and 90% of its units covered by an affordability use restriction under the LIHTC program or similar state or locally sponsored program, with rents sized at no greater than 30% of the income eligible for occupancy under the LIHTC program, with a recorded regulatory agreement in effect for at least 15 years after final endorsement. • Additionally, the project must also agree to accept voucher holders under Sec. 8 or other federal program voucher holders as residents for vacancies in units not covered by project-based Sec. 8.
Not only has FHA implemented the reduction of the annual MIP rates, but the agency has also lowered the upfront rates from a previous high of 100 basis points to as low as 25 basis points. As affordable units are leaving the system, more than 300,000 per year due to aging stock, FHA is diligently looking to reverse this trend. Furthermore, FHA has demonstrated its concern by implementing several programs in recent years, including the Rental Assistance Demonstration (RAD) program and the LIHTC Pilot Program. We should expect FHA to continue to confront this issue with innovative programs and policies such as the MIP rate reduction.
FHA Multifamily Mortgage Insurance Program
Previous Upfront Capitalized MIP
Current Upfront Capitalized MIP
Previous Annual Capitalized MIP
Current Annual Capitalized MIP
221(d)(4) New Constr/Sub Rehab with Green
45-65 25 45-65 25
207/223(f) Refi or Purchase with Green
100
25
45-60
25
223(a)(7) Refi with Green
50
25
45-50
25
241(a) Supplemental with Green
45-95 25 45-95 25
(Figure 1) FHA is setting participants up for success by including a broad category of energy efficient programs. The inclusivity of this initiative will allow many projects to meet the requirements. Acceptable qualifications for the reduction include six distinct industry recognized standards and leaves the door open for the approval of additional programs as well. The following are programs that will qualify under the initiative: • U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) for Homes, LEED for Homes Midrise and LEED for New Construction • ENERGY STAR • EarthCraft’s House and Multifamily • Earth Advantage New Homes • Greenpoint’s Rated New Home and Rated Existing Home (whole home or whole building label) • National Green Building Standard (NGBS) •Others approved at FHA’s sole discretion
provide recognizable utility savings. Owners engaging in these projects can expect not only the MIP reduction but also reduced operating costs through energy efficient components. This could make the allure of energy efficient building appealing to affordable properties as well. FHA is clearly motivated to make strides in both providing more affordable housing as well as partnering on projects that are highly energy efficient. Expect transactions with these attributes to be very well received. For more information contact Lisa Vecchietti at lvecchietti@lancasterpollard.com or (512) 327-7400.
Seeking early assistance from specialized architects and consultants will be critical to ensure that the design and build appropriately meet the necessary requirements to Texas Affo rd abl e Housing Magazine
17
2016-2017 CALENDAR TEXAS HOUSING CONFERENCE JULY 25-27, 2016 JW MARRIOTT 110 EAST 2ND STREET AUSTIN, TX 78701 BOARD OF DIRECTORS MEETING AUGUST 24, 2016 JW MARRIOTT 110 EAST 2ND STREET AUSTIN, TX 78701 BOARD RETREAT SEPTEMBER 20-22, 2016 FOUR SEASONS, LAS COLINAS 4150 N. MACARTHUR BLVD. IRVING, TX 75038
Developing Partnerships, Communities & Opportunities
www.thealliantcompany.com
Alliant Capital, Ltd. is a leading national provider of affordable housing equity solutions. We specialize in structuring and syndicating investments in the Low Income Housing Tax Credit (LIHTC) Program. Our reputation for providing “best-in-class” services has enabled us to build successful partnerships with investors and developers. We are committed to making a positive difference within the affordable housing communities nationwide. We invite you to partner with us to make that difference.
Prescribed Consulting For Affordable Housing Development
We’re resourceful, experienced, creative problem solvers in affordable housing and financing. With a specialty in the Housing Tax Credit program and other state and federal funding sources, we guide our clients through the process in Texas while mitigating the bureaucracy. One of our proprietary GIS “viewer” mapping system facilitates the site selection process and structure a successful real estate transaction.
EXECUTIVE MANAGEMENT SERIES OCTOBER 12, 2016 11:30 AM – 3:00 PM ST. DAVID’S EPISCOPAL CHURCH 301 EAST 8TH STREET, CRAIL HALL C, AUSTIN, TX 78701 BOARD OF DIRECTORS MEETING DECEMBER 14, 2016 1:30 – 4:30 PM CHASE BANK TOWER 221 WEST 6TH STREET AUSTIN, TX 78701 TAAHP HOLIDAY PARTY DECEMBER 14, 2016 5:00 PM – 7:00 PM HEADLINERS CLUB 221 WEST 6TH STREET AUSTIN, TX 78701 TEXAS HOUSING CONFERENCE JULY 24-26, 2017 JW MARRIOTT 110 EAST 2ND STREET AUSTIN, TX 78701
Robert Long (727) 424-0386 Robert.Long@alliantcapital.com
18
Texas affordable Housi ng M agazi ne
Sterling Court Houston, TX
2201 Northland Drive Austin, Texas 78756 contact Lora Myrick: lora@betcohousinglab.com (512) 785-3710 | betcohousinglab.com Texas affo rd abl e Housing Magazine
19
2016-2017 CALENDAR TEXAS HOUSING CONFERENCE JULY 25-27, 2016 JW MARRIOTT 110 EAST 2ND STREET AUSTIN, TX 78701 BOARD OF DIRECTORS MEETING AUGUST 24, 2016 JW MARRIOTT 110 EAST 2ND STREET AUSTIN, TX 78701 BOARD RETREAT SEPTEMBER 20-22, 2016 FOUR SEASONS, LAS COLINAS 4150 N. MACARTHUR BLVD. IRVING, TX 75038
Developing Partnerships, Communities & Opportunities
www.thealliantcompany.com
Alliant Capital, Ltd. is a leading national provider of affordable housing equity solutions. We specialize in structuring and syndicating investments in the Low Income Housing Tax Credit (LIHTC) Program. Our reputation for providing “best-in-class” services has enabled us to build successful partnerships with investors and developers. We are committed to making a positive difference within the affordable housing communities nationwide. We invite you to partner with us to make that difference.
Prescribed Consulting For Affordable Housing Development
We’re resourceful, experienced, creative problem solvers in affordable housing and financing. With a specialty in the Housing Tax Credit program and other state and federal funding sources, we guide our clients through the process in Texas while mitigating the bureaucracy. One of our proprietary GIS “viewer” mapping system facilitates the site selection process and structure a successful real estate transaction.
EXECUTIVE MANAGEMENT SERIES OCTOBER 12, 2016 11:30 AM – 3:00 PM ST. DAVID’S EPISCOPAL CHURCH 301 EAST 8TH STREET, CRAIL HALL C, AUSTIN, TX 78701 BOARD OF DIRECTORS MEETING DECEMBER 14, 2016 1:30 – 4:30 PM CHASE BANK TOWER 221 WEST 6TH STREET AUSTIN, TX 78701 TAAHP HOLIDAY PARTY DECEMBER 14, 2016 5:00 PM – 7:00 PM HEADLINERS CLUB 221 WEST 6TH STREET AUSTIN, TX 78701 TEXAS HOUSING CONFERENCE JULY 24-26, 2017 JW MARRIOTT 110 EAST 2ND STREET AUSTIN, TX 78701
Robert Long (727) 424-0386 Robert.Long@alliantcapital.com
18
Texas affordable Housi ng M agazi ne
Sterling Court Houston, TX
2201 Northland Drive Austin, Texas 78756 contact Lora Myrick: lora@betcohousinglab.com (512) 785-3710 | betcohousinglab.com Texas affo rd abl e Housing Magazine
19
Gateway at Lake Jackson
Heritage Crossing
Congratulations to TAAHP
Our continuing commitment to quality products may mean a change in specifications without notice. © 2016 Goodman Manufacturing Company, L.P. · Houston, Texas · USA
www.goodmanmfg.com
on a successful 2016 Texas Housing Conference Thank you for providing leadership and a forum to exchange ideas and information.
WHO IS AFFORDABLE HOUSING’S ROOKIE OF THE YEAR FOR 2015? Facebook revenue went from $0 to $9 million in its first year. Wilt Chamberlain set NBA records for most points and rebounds, then lost in the finals, but won MVP and Rookie of the Year awards. Berkadia closed over $750 million in affordable housing transactions in 2015, and we’re just getting started. We ranked 7th overall among affordable housing lenders, and 2nd among non-banks in 2015.*
Southeast Texas Housing Finance Corp
We are able to execute across the entire suite of Freddie Mac TAH, Fannie Mae MAH and FHA products. Our Affordable Housing Group is a dedicated team of mortgage bankers, underwriters, and other specialists working exclusively to support your affordable housing transactions.
35Years Since 1981
* Per Affordable Housing Finance
FREDDIE MAC TAH / FANNIE MAE MAH INQUIRIES:
20
Texas affordable Housi ng M agazi ne
WWW.SETHFC.COM
LLOYD GRIFFIN 512.226.8710
FHA INQUIRIES:
RICHARD PRICE 301.202.3578
B E R KA D I A .CO M / 8 0 0. 4 4 6 . 2 2 2 6
Providing Affordable Housing for Texans
Sweetwater
ANTHONY CINQUINI 310.209.3288
Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Investment sales/real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. #01931050. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx. © 2016 Berkadia Commercial Mortgage LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.
Mansions at Moses Lake Texas affo rd abl e Housing Magazine
21
Gateway at Lake Jackson
Heritage Crossing
Congratulations to TAAHP
Our continuing commitment to quality products may mean a change in specifications without notice. © 2016 Goodman Manufacturing Company, L.P. · Houston, Texas · USA
www.goodmanmfg.com
on a successful 2016 Texas Housing Conference Thank you for providing leadership and a forum to exchange ideas and information.
WHO IS AFFORDABLE HOUSING’S ROOKIE OF THE YEAR FOR 2015? Facebook revenue went from $0 to $9 million in its first year. Wilt Chamberlain set NBA records for most points and rebounds, then lost in the finals, but won MVP and Rookie of the Year awards. Berkadia closed over $750 million in affordable housing transactions in 2015, and we’re just getting started. We ranked 7th overall among affordable housing lenders, and 2nd among non-banks in 2015.*
Southeast Texas Housing Finance Corp
We are able to execute across the entire suite of Freddie Mac TAH, Fannie Mae MAH and FHA products. Our Affordable Housing Group is a dedicated team of mortgage bankers, underwriters, and other specialists working exclusively to support your affordable housing transactions.
35Years Since 1981
* Per Affordable Housing Finance
FREDDIE MAC TAH / FANNIE MAE MAH INQUIRIES:
20
Texas affordable Housi ng M agazi ne
WWW.SETHFC.COM
LLOYD GRIFFIN 512.226.8710
FHA INQUIRIES:
RICHARD PRICE 301.202.3578
B E R KA D I A .CO M / 8 0 0. 4 4 6 . 2 2 2 6
Providing Affordable Housing for Texans
Sweetwater
ANTHONY CINQUINI 310.209.3288
Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Investment sales/real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. #01931050. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx. © 2016 Berkadia Commercial Mortgage LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.
Mansions at Moses Lake Texas affo rd abl e Housing Magazine
21
The Texas High-Opportunity & Fair Housing Debate
increasingly favor suburban and even rural sites in urban regions. And in spite of the senior parity legislation, very few sites for families with kids score “in the money” in Houston, our state’s largest city and the fourth largest city in the country. There have also been lively discussions
J
about how strict the community revitalization plan rules have become and how few sites qualify for those points.
ustice Kennedy announced in the 2015 Inclusive Communities Project v. TDHCA landmark disparate impact decision, “[T]he Court acknowledges the Fair Housing Act’s continuing role in moving the nation toward a more integrated society.”
One Riot, One Ranger?
The Supreme Court helpfully pointed out that zoning laws and other housing
U.S. Asst. Attorney General for Civil Rights John Doar during the ‘60s
restrictions that function unfairly to exclude minorities without sufficient justification reside at the heartland of disparate impact liability. Since then,
Coats | Rose and other law firms have had some success in using the disparate impact tool to overcome local government opposition to sites in high-opportunity areas. HUD recently used the Supreme Court decision as a springboard to announce guidance on criminal history screening criteria, such as an outright ban on any prior arrest record, that may have an unlawful disparate impact.
In May the U.S. General Accounting Office (GAO) released a report on the Low Income Housing This summer the eight-year-old ICP case enters another round of litigation, this time based
Tax Credit that calls out local letters of support in state QAPs as potentially raising Fair Housing
on the Supreme Court opinion. The TDHCA policy being challenged by ICP is the exercise of
concerns. The GAO Report singles out Texas because of a 2013 Sunset Advisory Commission
discretion, especially by the TDHCA Board, through awards such as forward commitments.
recommendation to eliminate letters of support from state senators and representatives. The
Over the next few months the district court will hear arguments on whether the exercise of
Sunset Report found such letters are giving too much power to officials too far removed from
discretion is a policy that caused the racial imbalance of housing tax credit sites in the five
the application process. Also, a case has been filed by ICP against the U.S. Department of
Dallas counties covered by the lawsuit and, if so, whether the policy is sufficiently justified.
Treasury alleging it failed to affirmatively further Fair Housing by not prohibiting state policies
The Court may also weigh whether there was a less discriminatory alternative than the TDHCA
such as the Texas Legislature’s 2013 bill requiring local government resolutions of support as a
Board’s exercise of discretion that still would have satisfied the agency’s rationale for its policy.
tax credit scoring item.
Meanwhile, TDHCA has held a series of round-table discussions with developers on hot QAP
HUD’s Office of General Counsel announced guidance on criminal history screening in April
topics such as high-opportunity areas and community revitalization plans. In these discussions,
of 2015 that encourages tailored case-by-case assessments of criminal convictions with due
many developers pointed out that too many far-flung areas are qualifying for high-opportunity
consideration for relevant mitigating factors. Screening policies should focus on convictions,
points, leaving behind large urban areas such as Houston and Austin. As families with kids move
not arrests, and should include due consideration of the nature, severity and recentness of
out of central Austin because they can no longer afford to live there, 9% tax credit allocations
criminal conduct. Other factors to consider are whether the criminal history poses a risk to
22
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
23
The Texas High-Opportunity & Fair Housing Debate
increasingly favor suburban and even rural sites in urban regions. And in spite of the senior parity legislation, very few sites for families with kids score “in the money” in Houston, our state’s largest city and the fourth largest city in the country. There have also been lively discussions
J
about how strict the community revitalization plan rules have become and how few sites qualify for those points.
ustice Kennedy announced in the 2015 Inclusive Communities Project v. TDHCA landmark disparate impact decision, “[T]he Court acknowledges the Fair Housing Act’s continuing role in moving the nation toward a more integrated society.”
One Riot, One Ranger?
The Supreme Court helpfully pointed out that zoning laws and other housing
U.S. Asst. Attorney General for Civil Rights John Doar during the ‘60s
restrictions that function unfairly to exclude minorities without sufficient justification reside at the heartland of disparate impact liability. Since then,
Coats | Rose and other law firms have had some success in using the disparate impact tool to overcome local government opposition to sites in high-opportunity areas. HUD recently used the Supreme Court decision as a springboard to announce guidance on criminal history screening criteria, such as an outright ban on any prior arrest record, that may have an unlawful disparate impact.
In May the U.S. General Accounting Office (GAO) released a report on the Low Income Housing This summer the eight-year-old ICP case enters another round of litigation, this time based
Tax Credit that calls out local letters of support in state QAPs as potentially raising Fair Housing
on the Supreme Court opinion. The TDHCA policy being challenged by ICP is the exercise of
concerns. The GAO Report singles out Texas because of a 2013 Sunset Advisory Commission
discretion, especially by the TDHCA Board, through awards such as forward commitments.
recommendation to eliminate letters of support from state senators and representatives. The
Over the next few months the district court will hear arguments on whether the exercise of
Sunset Report found such letters are giving too much power to officials too far removed from
discretion is a policy that caused the racial imbalance of housing tax credit sites in the five
the application process. Also, a case has been filed by ICP against the U.S. Department of
Dallas counties covered by the lawsuit and, if so, whether the policy is sufficiently justified.
Treasury alleging it failed to affirmatively further Fair Housing by not prohibiting state policies
The Court may also weigh whether there was a less discriminatory alternative than the TDHCA
such as the Texas Legislature’s 2013 bill requiring local government resolutions of support as a
Board’s exercise of discretion that still would have satisfied the agency’s rationale for its policy.
tax credit scoring item.
Meanwhile, TDHCA has held a series of round-table discussions with developers on hot QAP
HUD’s Office of General Counsel announced guidance on criminal history screening in April
topics such as high-opportunity areas and community revitalization plans. In these discussions,
of 2015 that encourages tailored case-by-case assessments of criminal convictions with due
many developers pointed out that too many far-flung areas are qualifying for high-opportunity
consideration for relevant mitigating factors. Screening policies should focus on convictions,
points, leaving behind large urban areas such as Houston and Austin. As families with kids move
not arrests, and should include due consideration of the nature, severity and recentness of
out of central Austin because they can no longer afford to live there, 9% tax credit allocations
criminal conduct. Other factors to consider are whether the criminal history poses a risk to
22
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
23
the safety or property of other residents, the age of the individual at the time of the crime, evidence of a good tenant history since any convictions, and rehabilitation efforts. Policies that do not consider these factors and mitigating circumstances on a case-by-case basis may violate the Fair Housing Act disparate impact standard. I have been practicing law in the Fair Housing and affordable housing arenas for more than 20 years and cannot remember a time with such a vigorous policy debate about housing integration. All of us at TAAHP and in the housing tax credit industry care about the future of cities and
TEXAS INSIGHT. AFFORDABLE HOUSING ADVANTAGE.
neighborhoods where we live and work. We encourage you to add your voice to this dizzying but thoughtful debate about the future of the housing tax credit program in Texas. With a sales volume of $528 million, over 80
—Scott Marks, Coats Rose, P.C.
transactions executed, 450 valuations, and
The Coats Rose Affordable Housing attorneys have extensive experience in affordable housing development. We represent for-profit developers, non-profit developers and public housing authorities utilizing a variety of financing techniques, including low income housing tax credits, CDBG Disaster Recovery Funding, private activity bonds, historic tax credits, HUD programs (including RAD), investment syndications and conventional financing.
authority on affordable housing in Texas.
$157 million in loan origination, CBRE is the
CBRE Affordable Housing leverages extensive experience with unparalleled insight into the local affordable housing market in order to anticipate market changes and what that means for our clients. Services offered include: •
Investment Properties
•
Debt & Structured Finance
•
Valuation & Advisory Services
•
Capital Advisors & Investment Banking
cbre.com/affordablehousing
24
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
25
the safety or property of other residents, the age of the individual at the time of the crime, evidence of a good tenant history since any convictions, and rehabilitation efforts. Policies that do not consider these factors and mitigating circumstances on a case-by-case basis may violate the Fair Housing Act disparate impact standard. I have been practicing law in the Fair Housing and affordable housing arenas for more than 20 years and cannot remember a time with such a vigorous policy debate about housing integration. All of us at TAAHP and in the housing tax credit industry care about the future of cities and
TEXAS INSIGHT. AFFORDABLE HOUSING ADVANTAGE.
neighborhoods where we live and work. We encourage you to add your voice to this dizzying but thoughtful debate about the future of the housing tax credit program in Texas. With a sales volume of $528 million, over 80
—Scott Marks, Coats Rose, P.C.
transactions executed, 450 valuations, and
The Coats Rose Affordable Housing attorneys have extensive experience in affordable housing development. We represent for-profit developers, non-profit developers and public housing authorities utilizing a variety of financing techniques, including low income housing tax credits, CDBG Disaster Recovery Funding, private activity bonds, historic tax credits, HUD programs (including RAD), investment syndications and conventional financing.
authority on affordable housing in Texas.
$157 million in loan origination, CBRE is the
CBRE Affordable Housing leverages extensive experience with unparalleled insight into the local affordable housing market in order to anticipate market changes and what that means for our clients. Services offered include: •
Investment Properties
•
Debt & Structured Finance
•
Valuation & Advisory Services
•
Capital Advisors & Investment Banking
cbre.com/affordablehousing
24
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
25
Housing Spotlight stories TEXAS AFFORDABLE HOUSING MAGAZINE
The Texas Affiliation of Affordable Housing Providers (TAAHP) is the leading nonprofit association of affordable housing development professionals representing the affordable housing industry in Texas. We want to share a few of the exceptional communities that have been built by TAAHP members. For over 19 years, TAAHP has represented hundreds of local and national housing professionals dedicated to providing high-quality affordable housing for Texans of all income levels. Our members are passionate about what they do and we hope you will enjoy reading each of the Spotlight Stories in this edition of the Texas Affordable Housing Magazine. One of the top goals of the TAAHP leadership team in publishing the magazine is to educate the public and our elected officials about how critical safe and decent housing is to working families, seniors and people with special needs. Thank you to all of our contributors and to the men and women who build affordable housing for Texas. If you are not a TAAHP member, we invite you to join our dynamic association! The Texas Department of Housing & Community Affairs (TDHCA) recently shared that since the inception of the Low Income Housing Tax Credit Program (LIHTC) in 1987, the LIHTC program has placed $53,370,171 into the state economy; $6,489,682,170 into local taxes; created 805,574 jobs; and built 283,595 workforce homes through 2015. We have come a long way in providing homes for families earning less than 60% of the area median family income but we have a long way to go. Join us as we make a difference together. Thank you for attending the Conference!
Kristi Sutterfield Editor, Texas Affordable Housing Magazine
Saige Meadows
26
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
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Housing Spotlight stories TEXAS AFFORDABLE HOUSING MAGAZINE
The Texas Affiliation of Affordable Housing Providers (TAAHP) is the leading nonprofit association of affordable housing development professionals representing the affordable housing industry in Texas. We want to share a few of the exceptional communities that have been built by TAAHP members. For over 19 years, TAAHP has represented hundreds of local and national housing professionals dedicated to providing high-quality affordable housing for Texans of all income levels. Our members are passionate about what they do and we hope you will enjoy reading each of the Spotlight Stories in this edition of the Texas Affordable Housing Magazine. One of the top goals of the TAAHP leadership team in publishing the magazine is to educate the public and our elected officials about how critical safe and decent housing is to working families, seniors and people with special needs. Thank you to all of our contributors and to the men and women who build affordable housing for Texas. If you are not a TAAHP member, we invite you to join our dynamic association! The Texas Department of Housing & Community Affairs (TDHCA) recently shared that since the inception of the Low Income Housing Tax Credit Program (LIHTC) in 1987, the LIHTC program has placed $53,370,171 into the state economy; $6,489,682,170 into local taxes; created 805,574 jobs; and built 283,595 workforce homes through 2015. We have come a long way in providing homes for families earning less than 60% of the area median family income but we have a long way to go. Join us as we make a difference together. Thank you for attending the Conference!
Kristi Sutterfield Editor, Texas Affordable Housing Magazine
Saige Meadows
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The Cottages at South Acres
IT REALLY DOES MATTER WHO YOU CHOOSE AS A PARTNER.
Hudson Housing Capital has long served as a trusted financial partner to tax credit investors and developers alike. Our track record of delivering results continues to attract a growing stream of investor capital. Hudson has consistently provided capital to its partners through these challenging financial times. While Hudson Housing Capital has the experience and depth of management to understand the most complicated opportunities, it is the simple things that set us apart: care in dealing with our partners, thorough underwriting and meticulous asset management. And private ownership that understands the value of building relationships for the long term. Talk to those who have worked with us. It really does matter who you choose as a partner.
www.hudsonhousing.com Hudson Housing Capital LLC 630 Fifth Avenue, Rockefeller Center, 28th Floor, New York, NY 10111 Tel: 212.218.4488 | Fax: 212.218.4467 7545 Irvine Center Drive, Suite 200 Irvine, CA 92618 | Tel: 949.623.8563 525 B Street, Suite 1500, San Diego CA 92101 | Tel: 619.297.6500 7535 Little River Turnpike, Suite 204, Annandale, VA 22003 | Tel: 703.639.0880 100 Cummings Center, Suite 433A, Beverly, MA 01915 | Tel: 978.236.4252 980 N Michigan, Suite 1400, Chicago, IL 60611 | Tel: 312.214.6312
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South Acres Ranch has received numerous awards including a Special Congressional Certificate of Recognition from U.S. Congressman Al Green, a Landmark Award of Special RecogThe Cottages at South Acres consists of 116 nition from the Houston Business Journal and first class one and two bedroom rental units and an Honors Award from the Houston Apartment 28 four bedroom single-family rental homes with Association in the affordable housing category. deluxe amenities including attached garages for all units. Since 1994, through various affiliates, HettigKahn Development has been involved in numerThe development is an addition to the previous successful LIHTC developments containing ously completed highly successful South Acres several thousand affordable units with Hudson Ranch community consisting of 128 of the Housing Capital, LLC, Capital One and the City of single-family rental homes. With a blend of one Houston who have provided equity and/or debt and two bedroom units, the addition appeals to for most of these communities. the parents or other extended family members of families living in the four bedroom houses. The company is professionally managed by Hettig Management Corp. The development is well located on Scott Street approximately three miles to the north of Beltway 8 near the 288 corridor in south Houston with easy access to the medical center and downtown. The community appeals to residents at various income levels with units priced for 30%, 50%, and 60% of area median income (AMI) and has approximately 29% market rate units. The Cottages at South Acres 11005 Scott Street Houston, Texas 77047
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The Cottages at South Acres
IT REALLY DOES MATTER WHO YOU CHOOSE AS A PARTNER.
Hudson Housing Capital has long served as a trusted financial partner to tax credit investors and developers alike. Our track record of delivering results continues to attract a growing stream of investor capital. Hudson has consistently provided capital to its partners through these challenging financial times. While Hudson Housing Capital has the experience and depth of management to understand the most complicated opportunities, it is the simple things that set us apart: care in dealing with our partners, thorough underwriting and meticulous asset management. And private ownership that understands the value of building relationships for the long term. Talk to those who have worked with us. It really does matter who you choose as a partner.
www.hudsonhousing.com Hudson Housing Capital LLC 630 Fifth Avenue, Rockefeller Center, 28th Floor, New York, NY 10111 Tel: 212.218.4488 | Fax: 212.218.4467 7545 Irvine Center Drive, Suite 200 Irvine, CA 92618 | Tel: 949.623.8563 525 B Street, Suite 1500, San Diego CA 92101 | Tel: 619.297.6500 7535 Little River Turnpike, Suite 204, Annandale, VA 22003 | Tel: 703.639.0880 100 Cummings Center, Suite 433A, Beverly, MA 01915 | Tel: 978.236.4252 980 N Michigan, Suite 1400, Chicago, IL 60611 | Tel: 312.214.6312
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South Acres Ranch has received numerous awards including a Special Congressional Certificate of Recognition from U.S. Congressman Al Green, a Landmark Award of Special RecogThe Cottages at South Acres consists of 116 nition from the Houston Business Journal and first class one and two bedroom rental units and an Honors Award from the Houston Apartment 28 four bedroom single-family rental homes with Association in the affordable housing category. deluxe amenities including attached garages for all units. Since 1994, through various affiliates, HettigKahn Development has been involved in numerThe development is an addition to the previous successful LIHTC developments containing ously completed highly successful South Acres several thousand affordable units with Hudson Ranch community consisting of 128 of the Housing Capital, LLC, Capital One and the City of single-family rental homes. With a blend of one Houston who have provided equity and/or debt and two bedroom units, the addition appeals to for most of these communities. the parents or other extended family members of families living in the four bedroom houses. The company is professionally managed by Hettig Management Corp. The development is well located on Scott Street approximately three miles to the north of Beltway 8 near the 288 corridor in south Houston with easy access to the medical center and downtown. The community appeals to residents at various income levels with units priced for 30%, 50%, and 60% of area median income (AMI) and has approximately 29% market rate units. The Cottages at South Acres 11005 Scott Street Houston, Texas 77047
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The Cottages at South Acres
Type of Funding: 9% Tax Credits, HOME funds Number of units and composition: 144 (102 Affordable, 42 Market) Residents: General population Developer: Hettig-Kahn Development Syndicator(s): Hudson Housing Capital, LLC Lenders Name(s): Capital One, N.A. (Construction and permanent), The City of Houston
Services Offered: Health and nutritional courses, scholastic tutoring, vocational training, credit counseling, English as a second language, financial planning assistance, home buyer education, GED preparation, health screening services, and on-site notary. Green Initiative: Energy Star rated appliances, Energy Star rated lighting, Energy Star rated water heaters, low flow toilets, dual pane windows, and thermal/draft efficient doors, daylight sensors on exterior lighting and motion sensors on interior lighting, and a recycling service.
Architect: JRM Architects, Inc. On-site Amenities: A fully equipped theater room, a barbecue pavilion and grilling area, two commercial grade playground areas, a horseshoe game area, a dog walking park, and a community room for various supportive services and social activities.
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The Cottages at South Acres
Type of Funding: 9% Tax Credits, HOME funds Number of units and composition: 144 (102 Affordable, 42 Market) Residents: General population Developer: Hettig-Kahn Development Syndicator(s): Hudson Housing Capital, LLC Lenders Name(s): Capital One, N.A. (Construction and permanent), The City of Houston
Services Offered: Health and nutritional courses, scholastic tutoring, vocational training, credit counseling, English as a second language, financial planning assistance, home buyer education, GED preparation, health screening services, and on-site notary. Green Initiative: Energy Star rated appliances, Energy Star rated lighting, Energy Star rated water heaters, low flow toilets, dual pane windows, and thermal/draft efficient doors, daylight sensors on exterior lighting and motion sensors on interior lighting, and a recycling service.
Architect: JRM Architects, Inc. On-site Amenities: A fully equipped theater room, a barbecue pavilion and grilling area, two commercial grade playground areas, a horseshoe game area, a dog walking park, and a community room for various supportive services and social activities.
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The Cottages at south acres
Capital One® works every day to give back to the communities where we live and work. Through programs that support financial literacy, education and affordable housing, we provide people the tools they need to succeed.
capitalone.com/investingforgood facebook.com/capitaloneinvestingforgood
©2014 Capital One. All rights reserved.
General Community / 8” x 5” • Committed to Community - Generic
DEVELOPER AND BUILDER OF AFFORDABLE HOUSING IN TEXAS THE RESERVE AT SPRINGDALE /// OPENING FALL 2016
HOUSING AUTHORITY OF THE CITY OF AUSTIN, JP MORGAN CHASE, BOSTON C APITAL, CITY REAL ESTATE ADVISORS.
URBAN OAKS /// OPENING SPRING 2017
HOUSING AUTHORITY OF THE CITY OF AUSTIN, JP MORGAN CHASE, PNC, CITY REAL ESTATE ADVISORS.
T AAHP CONFERENCE
WINE SPONSOR
David Knoll | Director of Development | 512.493.5908
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| david.knoll@ryancompanies.com
| ryancompanies.com
Texas affo rd abl e Housing Magazine
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The Cottages at south acres
Capital One® works every day to give back to the communities where we live and work. Through programs that support financial literacy, education and affordable housing, we provide people the tools they need to succeed.
capitalone.com/investingforgood facebook.com/capitaloneinvestingforgood
©2014 Capital One. All rights reserved.
General Community / 8” x 5” • Committed to Community - Generic
DEVELOPER AND BUILDER OF AFFORDABLE HOUSING IN TEXAS THE RESERVE AT SPRINGDALE /// OPENING FALL 2016
HOUSING AUTHORITY OF THE CITY OF AUSTIN, JP MORGAN CHASE, BOSTON C APITAL, CITY REAL ESTATE ADVISORS.
URBAN OAKS /// OPENING SPRING 2017
HOUSING AUTHORITY OF THE CITY OF AUSTIN, JP MORGAN CHASE, PNC, CITY REAL ESTATE ADVISORS.
T AAHP CONFERENCE
WINE SPONSOR
David Knoll | Director of Development | 512.493.5908
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Texas affordable Housi ng M agazi ne
| david.knoll@ryancompanies.com
| ryancompanies.com
Texas affo rd abl e Housing Magazine
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WHERE EVERY CLIENT IS OUR MOST IMPORTANT PARTNER
spring Trace At Allied Orion Group, we understand that each client has his or her own unique set of needs. That’s why our mission is to provide personalized service and do “Whatever it Takes” to ensure the success of every community! For more than 30 years, we have provided management for all types of multi-family properties and have a growing portfolio of apartment homes under management throughout the nation.
Build a partnership with us today! www.allied-orion.com 713.622.5844
Property Management • Development • Receiverships • Marketing and Lease Up Due Diligence • Construction Management • Renovations
AFFORD INVALU
Jeff Englund 770.392.9340 jeff.englund@greyco.com
HOUSING EXPERTISE
Multifamily affordable housing financing. We get it done. www.greyco.com
Steven Mumford 678.495.9808 steven.mumford@greyco.com
Copyright ©2016 Greystone & Co., Inc. All rights Reserved. References to the term “Greystone,” “we,” “us,” and “our” refer to Greystone & Co., Inc. and/or its affiliated companies, as applicable. Loan products are offered through Greystone Funding Corporation, Greystone Servicing Corporation, Inc. and/or Greystone affiliated companies. For more information please visit our website www.greyco.com or contact information@greyco.com 0616
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spring trace 24505 Aldine Westfield Rd. Spring, Texas 77373 Seniors just outside Houston quickly filled the 180 units of high-quality affordable housing at Spring Trace shortly after it opened in 2014. Located 25 miles north of downtown in North Harris County, Mark-Dana Corporation developed Spring Trace for seniors aged 55-plus. “I fell in love with the property and my apartment with all its beautiful features,” said resident Dee Brown. “The management staff truly cares about the residents and is always helpful when there is an issue. I especially love the fact that if management is not already planning something fun and social for us, they allow us to plan our own potluck lunches and fun activities. Spring Trace is truly a great place to live!” Community amenities include a resort-style pool, fitness center, business center with fax, computers and printers, full community kitchen/ clubhouse with free Wi-Fi, community laundry room, hair salon, craft room, and a conference room with a library area. The property has fullperimeter fencing with controlled access gates. Unit amenities are composed of faux-wood flooring, granite countertops in the kitchen and bathroom, black appliances, built-in desk with shelves, 9-foot ceilings, laundry connections, and, in select units, attached garages. Residents have a host of support services that they can access such as quarterly health and nutrition classes, English as a second language classes, an annual health fair, quarterly financial planning courses, food pantry,
informational sessions on Internet dangers, teambuilding, drug abuse prevention and more. Mark-Dana Corporation also paid attention to environmental sustainability by equipping each unit with Energy Star appliances, ceiling fans, efficient lighting, low-flow plumbing, low-E windows and energy-efficient doors. Mucasey & Associates Architects designed Spring Trace to blend into the neighborhood. The complex is composed of four single-story cottages with one and two-bedrooms along the boulevard entrance centering on a central three-story 156-unit building with elevator service. It is very sought after and fully occupied with a waiting list. Since Spring Trace was built, it has sparked additional development. Walmart built a neighborhood market within walking distance of the complex and a single-family home development to the south has expanded onto 10 additional acres adjoining Spring Trace. “We have been developing housing using the Housing Tax Credit program since its inception and enjoy doing so because it helps hard working people afford a high quality place to live and it helps stimulate the local economy,” Mark-Dana President David Koogler said. Mark-Dana used 9 percent low-income housing tax credits, $15.4 million in equity from U.S. Bancorp Community Development Corporation, $15.3 million in construction and permanent loans from Amegy Bank and a $360,000 bridge construction loan from Harris County Housing Finance Corporation. “Spring Trace is a wonderful community that provides much-needed quality housing, services Texas affo rd abl e Housing Magazine
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WHERE EVERY CLIENT IS OUR MOST IMPORTANT PARTNER
spring Trace At Allied Orion Group, we understand that each client has his or her own unique set of needs. That’s why our mission is to provide personalized service and do “Whatever it Takes” to ensure the success of every community! For more than 30 years, we have provided management for all types of multi-family properties and have a growing portfolio of apartment homes under management throughout the nation.
Build a partnership with us today! www.allied-orion.com 713.622.5844
Property Management • Development • Receiverships • Marketing and Lease Up Due Diligence • Construction Management • Renovations
AFFORD INVALU
Jeff Englund 770.392.9340 jeff.englund@greyco.com
HOUSING EXPERTISE
Multifamily affordable housing financing. We get it done. www.greyco.com
Steven Mumford 678.495.9808 steven.mumford@greyco.com
Copyright ©2016 Greystone & Co., Inc. All rights Reserved. References to the term “Greystone,” “we,” “us,” and “our” refer to Greystone & Co., Inc. and/or its affiliated companies, as applicable. Loan products are offered through Greystone Funding Corporation, Greystone Servicing Corporation, Inc. and/or Greystone affiliated companies. For more information please visit our website www.greyco.com or contact information@greyco.com 0616
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spring trace 24505 Aldine Westfield Rd. Spring, Texas 77373 Seniors just outside Houston quickly filled the 180 units of high-quality affordable housing at Spring Trace shortly after it opened in 2014. Located 25 miles north of downtown in North Harris County, Mark-Dana Corporation developed Spring Trace for seniors aged 55-plus. “I fell in love with the property and my apartment with all its beautiful features,” said resident Dee Brown. “The management staff truly cares about the residents and is always helpful when there is an issue. I especially love the fact that if management is not already planning something fun and social for us, they allow us to plan our own potluck lunches and fun activities. Spring Trace is truly a great place to live!” Community amenities include a resort-style pool, fitness center, business center with fax, computers and printers, full community kitchen/ clubhouse with free Wi-Fi, community laundry room, hair salon, craft room, and a conference room with a library area. The property has fullperimeter fencing with controlled access gates. Unit amenities are composed of faux-wood flooring, granite countertops in the kitchen and bathroom, black appliances, built-in desk with shelves, 9-foot ceilings, laundry connections, and, in select units, attached garages. Residents have a host of support services that they can access such as quarterly health and nutrition classes, English as a second language classes, an annual health fair, quarterly financial planning courses, food pantry,
informational sessions on Internet dangers, teambuilding, drug abuse prevention and more. Mark-Dana Corporation also paid attention to environmental sustainability by equipping each unit with Energy Star appliances, ceiling fans, efficient lighting, low-flow plumbing, low-E windows and energy-efficient doors. Mucasey & Associates Architects designed Spring Trace to blend into the neighborhood. The complex is composed of four single-story cottages with one and two-bedrooms along the boulevard entrance centering on a central three-story 156-unit building with elevator service. It is very sought after and fully occupied with a waiting list. Since Spring Trace was built, it has sparked additional development. Walmart built a neighborhood market within walking distance of the complex and a single-family home development to the south has expanded onto 10 additional acres adjoining Spring Trace. “We have been developing housing using the Housing Tax Credit program since its inception and enjoy doing so because it helps hard working people afford a high quality place to live and it helps stimulate the local economy,” Mark-Dana President David Koogler said. Mark-Dana used 9 percent low-income housing tax credits, $15.4 million in equity from U.S. Bancorp Community Development Corporation, $15.3 million in construction and permanent loans from Amegy Bank and a $360,000 bridge construction loan from Harris County Housing Finance Corporation. “Spring Trace is a wonderful community that provides much-needed quality housing, services Texas affo rd abl e Housing Magazine
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spring Trace and a warm environment for seniors. It’s great to walk into Spring Trace and see a well-maintained property with happy residents,” said Rob Wasserman, senior vice president of USBCDC. “Our partnership with the Mark-Dana Corporation is deepened due to their commitment to the LIHTC program and, more importantly, the residents they serve.” For Amegy, this was the fourth senior housing tax-credit project that it had financed with Mark-Dana. “Amegy is always delighted to be a lending partner on a Mark-Dana development. Each project seems to be better than the last and Spring Trace did not disappoint. From the quality of construction to the beautifully appointed facility, any senior tenant would be proud to call Spring Trace home,” said Sara Hutchinson, senior vice president of Amegy.
Other organizations that made the project possible are Koogler Construction of Texas, LLC - General Contractor; and Mark-Dana Management of Texas, LLC and FDI Property Management - Property Managers.
GIVING
Y U
MORE BENEFITS INCREASE SALES AND STAND OUT FROM THE COMPETITION Offer your clients more abundant hot water and lower energy bills and you’ll help differentiate your property in the crowded multi-family market. Let CenterPoint Energy’s Natural Gas Advantage Multi-Family Program help your development reach its full potential. VISIT US AT BOOTH #26 and discover how to add to your bottom line by building with natural gas. You’ll learn about:
• • • •
CenterPoint Energy’s Natural Gas Advantage Multi-Family Program Cash incentives Favorable utility allowances Energy, cost and environmental savings benefits
©2016 CenterPoint Energy 161941
For more information, visit CenterPointEnergy.com/Multi-Family.
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Contact Josh Tingler at 713-207-4320 Joshua.Tingler@CenterPointEnergy.com Or Chris Lallier at 713-207-4399 John.Lallier@CenterPointEnergy.com
Texas affo rd abl e Housing Magazine
37
spring Trace and a warm environment for seniors. It’s great to walk into Spring Trace and see a well-maintained property with happy residents,” said Rob Wasserman, senior vice president of USBCDC. “Our partnership with the Mark-Dana Corporation is deepened due to their commitment to the LIHTC program and, more importantly, the residents they serve.” For Amegy, this was the fourth senior housing tax-credit project that it had financed with Mark-Dana. “Amegy is always delighted to be a lending partner on a Mark-Dana development. Each project seems to be better than the last and Spring Trace did not disappoint. From the quality of construction to the beautifully appointed facility, any senior tenant would be proud to call Spring Trace home,” said Sara Hutchinson, senior vice president of Amegy.
Other organizations that made the project possible are Koogler Construction of Texas, LLC - General Contractor; and Mark-Dana Management of Texas, LLC and FDI Property Management - Property Managers.
GIVING
Y U
MORE BENEFITS INCREASE SALES AND STAND OUT FROM THE COMPETITION Offer your clients more abundant hot water and lower energy bills and you’ll help differentiate your property in the crowded multi-family market. Let CenterPoint Energy’s Natural Gas Advantage Multi-Family Program help your development reach its full potential. VISIT US AT BOOTH #26 and discover how to add to your bottom line by building with natural gas. You’ll learn about:
• • • •
CenterPoint Energy’s Natural Gas Advantage Multi-Family Program Cash incentives Favorable utility allowances Energy, cost and environmental savings benefits
©2016 CenterPoint Energy 161941
For more information, visit CenterPointEnergy.com/Multi-Family.
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Texas affordable Housi ng M agazi ne
Contact Josh Tingler at 713-207-4320 Joshua.Tingler@CenterPointEnergy.com Or Chris Lallier at 713-207-4399 John.Lallier@CenterPointEnergy.com
Texas affo rd abl e Housing Magazine
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Spring Trace
Emerald Village
Emerald Village 3203 N Loop 1604 East San Antonio, Texas 78259 Emerald Village is a new 144 unit multifamily garden-style development serving San Antonio households with incomes at 30%, 50%, and 60% of the area median income and 30 units at market rate. The village has a community/business center, controlled access, and a pool/sundeck. Type of Funding: HTC; City of San Antonio HOME Funds Program Number of units and Composition: Mixedincome units - 12 units @ 30% AMI; 46 units @ 50% AMI; 56 units @ 60% AMI; 30 units @ market rate. 24- 1 bd/1 bath 50- 2 bd/2 bath 62- 3 bd/2 bath 8- 4 bd/2 bath
Syndicator: US Bancorp CDC Lender Name: CommunityBank of Texas; US Bank Architect: Alamo Architects, Inc. List of on-site amenities: Activity-filled community center; business center-high speed Wi-Fi internet; 24-hour fitness center; outdoor playground; pool/ sundeck; full-size washer/dryer connections; on-site management/leasing office; covered patios/balconies; 9 ft. ceilings; controlled access gate; resident storage; self-cleaning ovens; refrigerator w/ice maker; pet friendly.
Resident Profiles: (seniors, assisted living, families, single, etc.) general population/ families/individuals Developer: Community Housing Resource Partners, Inc.; NRP Lone Star Development LLC
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Spring Trace
Emerald Village
Emerald Village 3203 N Loop 1604 East San Antonio, Texas 78259 Emerald Village is a new 144 unit multifamily garden-style development serving San Antonio households with incomes at 30%, 50%, and 60% of the area median income and 30 units at market rate. The village has a community/business center, controlled access, and a pool/sundeck. Type of Funding: HTC; City of San Antonio HOME Funds Program Number of units and Composition: Mixedincome units - 12 units @ 30% AMI; 46 units @ 50% AMI; 56 units @ 60% AMI; 30 units @ market rate. 24- 1 bd/1 bath 50- 2 bd/2 bath 62- 3 bd/2 bath 8- 4 bd/2 bath
Syndicator: US Bancorp CDC Lender Name: CommunityBank of Texas; US Bank Architect: Alamo Architects, Inc. List of on-site amenities: Activity-filled community center; business center-high speed Wi-Fi internet; 24-hour fitness center; outdoor playground; pool/ sundeck; full-size washer/dryer connections; on-site management/leasing office; covered patios/balconies; 9 ft. ceilings; controlled access gate; resident storage; self-cleaning ovens; refrigerator w/ice maker; pet friendly.
Resident Profiles: (seniors, assisted living, families, single, etc.) general population/ families/individuals Developer: Community Housing Resource Partners, Inc.; NRP Lone Star Development LLC
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Emerald Village
List of support services offered: CHR will provide a full range of services for residents including: Homework First; Scholastic Tutoring and Mentoring, workforce development; resume writing; nutrition classes, health and wellness screenings; pantry services (thanks to a partnership with the San Antonio Food Bank); first time home buyer education; Raising a Reader; literacy and parental engagement classes. Green initiative: Energy Star rated appliances; lighting fixtures; ceiling fans; plumbing fixtures. Special design features: A combination of three story walk-up and townhomes.
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Emerald Village
List of support services offered: CHR will provide a full range of services for residents including: Homework First; Scholastic Tutoring and Mentoring, workforce development; resume writing; nutrition classes, health and wellness screenings; pantry services (thanks to a partnership with the San Antonio Food Bank); first time home buyer education; Raising a Reader; literacy and parental engagement classes. Green initiative: Energy Star rated appliances; lighting fixtures; ceiling fans; plumbing fixtures. Special design features: A combination of three story walk-up and townhomes.
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Summit Parque
Summit Parque 12777 Merit Drive Dallas, TX 75251 Located in North Dallas, Summit Parque is a mid-rise, family oriented community consisting of 100 units. With 25% market rate units, Summit Parque is a true mixed-income community. This seven-story residential development was designed with energy efficiency in mind and offers its residents unparalleled living with all the conveniences of an urban location. Summit Parque is located near the Medical City Hospital, which provides a significant employment base as well as health care services. Medical City’s facilities consist of several hospitals including Medical City Children’s Hospital, Green Oaks Hospital, and Texas Institute for Robotic Surgery. Additionally, the residents of Summit Parque will have the opportunity to attend Richardson ISD, a MET Standard rated district. Residents live between one and three miles from the assigned schools: Hamilton Park Pacecenter Elementary, Westwood Junior High and Richardson High School. Type of Funding: 9% Housing Tax Credits through the Texas Department of Housing and Community Affairs and Dallas Housing Authority Number of units and composition: 31 – One bedroom/one bath apartment homes at 714 sq. ft. 49 – Two bedroom/two bath apartment homes at 907 sq. ft.
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20 – Three bedroom/two bath apartment homes at 1,109 sq. ft. Residents: Summit Parque serves families at 30%, 50% and 60% of AMI, as well as market rate Developers: Saigebrook Development and Zenstar Development Syndicator: Wells Fargo Community Lending and Investment Lender: Community Bank of Texas Architect: 5G Studio Collaborative Engineer: Cole Engineering Tax Credit Consultant: Sarah Anderson Consulting Energy Consultant: TexEnergy Solutions On-site Amenities: The clubhouse and leasing facilities are located at ground level, with a two story parking garage and residential units above. Amenity centers are located on multiple levels including an outdoor terrace space for residential use, gatherings and other community functions. Specific amenities at Summit Parque include a fully furnished clubhouse with a media room, fitness center, cyber lounge, children’s play area, community room, BBQ grilling stations, and roof top terrace. Unit Features: dishwasher, microwave, solid surface countertops, high efficiency appliances and lighting, hard surface flooring, walk-in closets and tile tub surrounds.
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Summit Parque
Summit Parque 12777 Merit Drive Dallas, TX 75251 Located in North Dallas, Summit Parque is a mid-rise, family oriented community consisting of 100 units. With 25% market rate units, Summit Parque is a true mixed-income community. This seven-story residential development was designed with energy efficiency in mind and offers its residents unparalleled living with all the conveniences of an urban location. Summit Parque is located near the Medical City Hospital, which provides a significant employment base as well as health care services. Medical City’s facilities consist of several hospitals including Medical City Children’s Hospital, Green Oaks Hospital, and Texas Institute for Robotic Surgery. Additionally, the residents of Summit Parque will have the opportunity to attend Richardson ISD, a MET Standard rated district. Residents live between one and three miles from the assigned schools: Hamilton Park Pacecenter Elementary, Westwood Junior High and Richardson High School. Type of Funding: 9% Housing Tax Credits through the Texas Department of Housing and Community Affairs and Dallas Housing Authority Number of units and composition: 31 – One bedroom/one bath apartment homes at 714 sq. ft. 49 – Two bedroom/two bath apartment homes at 907 sq. ft.
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20 – Three bedroom/two bath apartment homes at 1,109 sq. ft. Residents: Summit Parque serves families at 30%, 50% and 60% of AMI, as well as market rate Developers: Saigebrook Development and Zenstar Development Syndicator: Wells Fargo Community Lending and Investment Lender: Community Bank of Texas Architect: 5G Studio Collaborative Engineer: Cole Engineering Tax Credit Consultant: Sarah Anderson Consulting Energy Consultant: TexEnergy Solutions On-site Amenities: The clubhouse and leasing facilities are located at ground level, with a two story parking garage and residential units above. Amenity centers are located on multiple levels including an outdoor terrace space for residential use, gatherings and other community functions. Specific amenities at Summit Parque include a fully furnished clubhouse with a media room, fitness center, cyber lounge, children’s play area, community room, BBQ grilling stations, and roof top terrace. Unit Features: dishwasher, microwave, solid surface countertops, high efficiency appliances and lighting, hard surface flooring, walk-in closets and tile tub surrounds.
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Summit Parque Green Initiative: Creating an energy-efficient community was an important goal for the development of Summit Parque. The community has several arrays of solar panels mounted on the roof of the building. The clean renewable energy produced will help to offset the amount of energy used by the common areas. This property achieved an NGBS Silver Level Certification. Resident Services Offered: Community and resident enrichment activities are offered which will allow the residents to enhance their abilities while contributing to the community. Summit Parque is committed to improving the fabric of the community through providing opportunities to improve the residents’ lifestyle. Some of the activities planned for Summit Parque are social activities, health and nutrition education, character building and fitness programs. Art in Public Places: Saigebrook Development is a strong believer in public artwork as an integral part of communities. In each one of the communities, Saigebrook commissions a local artist to create an original sculpture, mosaic, mural or other form of art work. The Summit Parque community was designed to create an atmosphere that welcomes residents home by creating a sense of pride and community, encouraging a more caring attitude towards the residence they call home. Summit Parque commissioned the work of Abilene based sculptor Nic Noblique for the public artwork at this community. Titled “Above & Beyond,” the 10 foot tall sculpture is a powder coated recycled steel structure that represents the artist’s tribute to the developer who, in Noblique’s opinion, continuously evolves in determination from one development to the next, producing above and beyond communities with each new venture. Additionally, Saigebrook Development commissioned a special piece for the youth residents at Summit Parque, a play hive structure located on the rooftop terrace. This interactive artwork was created by Austin design studio Thought Barn, and is intended to be an intimate space for sharing secrets on the inside and a climbing frame for testing agility on the outside. For additional information on Summit Parque please contact our Leasing Office at (972) 2397700 or by email manager@summitparque.com.
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Investing in the future of affordable housing
Making an affordable housing project a reality requires a lot of pieces to come together. We specialize in bringing together debt, equity, construction solutions, and more — all under one roof. Proud sponsor of the Texas Affiliation of Affordable Housing Providers Permanent loans • Taxable and tax-exempt bond underwriting and remarketing • Credit enhancement LIHTC equity investing • Construction/bridge loans • Bank letters of credit • Trustee services Paying agent/registrar • Escrow and custody accounts • Private placement bond program
Community Lending Justin Paradise • 682-316-1328 Leslie Houston • 682-316-1327
LIHTC Equity Investment Neal Deaton • 704-383-9524
© 2016 Wells Fargo Bank, N.A. All rights reserved. WCS-2638423
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Summit Parque Green Initiative: Creating an energy-efficient community was an important goal for the development of Summit Parque. The community has several arrays of solar panels mounted on the roof of the building. The clean renewable energy produced will help to offset the amount of energy used by the common areas. This property achieved an NGBS Silver Level Certification. Resident Services Offered: Community and resident enrichment activities are offered which will allow the residents to enhance their abilities while contributing to the community. Summit Parque is committed to improving the fabric of the community through providing opportunities to improve the residents’ lifestyle. Some of the activities planned for Summit Parque are social activities, health and nutrition education, character building and fitness programs. Art in Public Places: Saigebrook Development is a strong believer in public artwork as an integral part of communities. In each one of the communities, Saigebrook commissions a local artist to create an original sculpture, mosaic, mural or other form of art work. The Summit Parque community was designed to create an atmosphere that welcomes residents home by creating a sense of pride and community, encouraging a more caring attitude towards the residence they call home. Summit Parque commissioned the work of Abilene based sculptor Nic Noblique for the public artwork at this community. Titled “Above & Beyond,” the 10 foot tall sculpture is a powder coated recycled steel structure that represents the artist’s tribute to the developer who, in Noblique’s opinion, continuously evolves in determination from one development to the next, producing above and beyond communities with each new venture. Additionally, Saigebrook Development commissioned a special piece for the youth residents at Summit Parque, a play hive structure located on the rooftop terrace. This interactive artwork was created by Austin design studio Thought Barn, and is intended to be an intimate space for sharing secrets on the inside and a climbing frame for testing agility on the outside. For additional information on Summit Parque please contact our Leasing Office at (972) 2397700 or by email manager@summitparque.com.
44
Investing in the future of affordable housing
Making an affordable housing project a reality requires a lot of pieces to come together. We specialize in bringing together debt, equity, construction solutions, and more — all under one roof. Proud sponsor of the Texas Affiliation of Affordable Housing Providers Permanent loans • Taxable and tax-exempt bond underwriting and remarketing • Credit enhancement LIHTC equity investing • Construction/bridge loans • Bank letters of credit • Trustee services Paying agent/registrar • Escrow and custody accounts • Private placement bond program
Community Lending Justin Paradise • 682-316-1328 Leslie Houston • 682-316-1327
LIHTC Equity Investment Neal Deaton • 704-383-9524
© 2016 Wells Fargo Bank, N.A. All rights reserved. WCS-2638423
Texas Affordable Housi ng M agazi ne
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Saige Meadows
Saige Meadows 13488 Hwy 69 N Tyler, Texas 75706
Type of Funding: 9% Housing Tax Credits through the Texas Department of Housing and Community Affairs
Saige Meadows is a new construction, garden style, multi-family community located in Tyler, Texas. Consisting of 92 mixed-income units, there are ten residential buildings and one clubhouse with amenity and leasing office space and a separate fitness building. Created with working families in mind, this development offers a number of spacious 1, 2, and 3 bedroom apartments and townhomes and encourages active community engagement with a variety of outdoor amenities. This community is the second of its kind in Tyler by this development team.
Number of units and composition: 22 – One bedroom/one bath apartment homes at 709-760 sq. ft. 44 – Two bedroom/two bath apartment homes at 926 sq. ft. 4 – Three bedroom/two bath apartment homes at 1,118 sq. ft. 6 – Two bedroom/two and a half bath townhomes at 1,156 sq. ft. 16 – Three bedroom/two and a half bathroom townhomes at 1,445-1449 sq. ft.
The first project, Pinnacle at North Chase, opened its doors to residents in August of 2012. The City of Tyler expressed how happy they were with the outstanding quality and outcome at North Chase. As a result they invited Anthem Builders to explore a second development opportunity in Tyler; to provide quality, affordably priced, luxury style apartment homes to working families operating on a budget in the north part of town. Saige Meadows is part of the North End Revitalization plan, which came out of the city’s first comprehensive planning process. Saige Meadows was the result of that invitation to explore the city’s growth in North Tyler and the community will be a catalyst for future growth in the area.
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Residents: Saige Meadows serves families at 30%, 50% and 60% of AMI, as well as market rate. Developer: Anthem Builders Syndicator: Wells Fargo Community Lending and Investment Lender: Wells Fargo Community Lending and Investment Architect: Miller Slayton Architects Art in Public Places: Saige Meadows commissioned the work of Texas sculptor George Tobolowsky out of Dallas, Texas. The sculpture called “Reaching Up” is made of painted steel and stainless steel recycled parts and materials.
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Saige Meadows
Saige Meadows 13488 Hwy 69 N Tyler, Texas 75706
Type of Funding: 9% Housing Tax Credits through the Texas Department of Housing and Community Affairs
Saige Meadows is a new construction, garden style, multi-family community located in Tyler, Texas. Consisting of 92 mixed-income units, there are ten residential buildings and one clubhouse with amenity and leasing office space and a separate fitness building. Created with working families in mind, this development offers a number of spacious 1, 2, and 3 bedroom apartments and townhomes and encourages active community engagement with a variety of outdoor amenities. This community is the second of its kind in Tyler by this development team.
Number of units and composition: 22 – One bedroom/one bath apartment homes at 709-760 sq. ft. 44 – Two bedroom/two bath apartment homes at 926 sq. ft. 4 – Three bedroom/two bath apartment homes at 1,118 sq. ft. 6 – Two bedroom/two and a half bath townhomes at 1,156 sq. ft. 16 – Three bedroom/two and a half bathroom townhomes at 1,445-1449 sq. ft.
The first project, Pinnacle at North Chase, opened its doors to residents in August of 2012. The City of Tyler expressed how happy they were with the outstanding quality and outcome at North Chase. As a result they invited Anthem Builders to explore a second development opportunity in Tyler; to provide quality, affordably priced, luxury style apartment homes to working families operating on a budget in the north part of town. Saige Meadows is part of the North End Revitalization plan, which came out of the city’s first comprehensive planning process. Saige Meadows was the result of that invitation to explore the city’s growth in North Tyler and the community will be a catalyst for future growth in the area.
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Residents: Saige Meadows serves families at 30%, 50% and 60% of AMI, as well as market rate. Developer: Anthem Builders Syndicator: Wells Fargo Community Lending and Investment Lender: Wells Fargo Community Lending and Investment Architect: Miller Slayton Architects Art in Public Places: Saige Meadows commissioned the work of Texas sculptor George Tobolowsky out of Dallas, Texas. The sculpture called “Reaching Up” is made of painted steel and stainless steel recycled parts and materials.
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Saige Meadows
Tax Credit Consultant: Sarah Anderson Consulting Energy Consultant: TexEnergy Solutions On-site Amenities: fully-furnished clubhouse with entertainment room and WiFi throughout, swimming pool, playground, fitness center, cyber lounge, and picnic area with BBQ grills. Typical Resident Services Offered: monthly on-site social activities,
financial counseling services, language classes, homebuyer education, credit counseling, financial planning courses, health screening services, computer classes, and health and nutritional seminars.
Unit features: spacious floor plans, Energy Star appliances and fixtures,
granite countertops, resilient flooring, plentiful storage, covered entries and patios/balconies. NGBS Certified.
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Saige Meadows
Tax Credit Consultant: Sarah Anderson Consulting Energy Consultant: TexEnergy Solutions On-site Amenities: fully-furnished clubhouse with entertainment room and WiFi throughout, swimming pool, playground, fitness center, cyber lounge, and picnic area with BBQ grills. Typical Resident Services Offered: monthly on-site social activities,
financial counseling services, language classes, homebuyer education, credit counseling, financial planning courses, health screening services, computer classes, and health and nutritional seminars.
Unit features: spacious floor plans, Energy Star appliances and fixtures,
granite countertops, resilient flooring, plentiful storage, covered entries and patios/balconies. NGBS Certified.
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La Esperanza Del Rio
La Esperanza Del Rio 315 Butterfly Garden Drive Rio Grande City, Texas La Esperanza Del Rio “The Hope of the River” is a 60-unit affordable apartment community for families located on the Texas Mexico border in Rio Grande City, Starr County, Texas. La Esperanza Del Rio is the first multi-family development for families in Rio Grande City to be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Fifty units are available for families earning 30% to 60% of the Area Median Income (AMI) and 10 units are available at market rate rents. Five percent of the units are set aside for veterans. La Esperanza Del Rio is a $7.3 million development that features 16 one-bedroom, 26 two-bedroom, and 18 three bedroom units ranging from 720 - 1240 square feet. Unit amenities include full size energy efficient appliances including refrigerators with ice makers, stove/oven, built-in microwave, garbage disposal, and dishwasher along with washer/dryer connections. Community amenities include a community clubhouse with warming kitchen, common area Wi-Fi, on-site leasing office with property manager, community laundry, playscape, perimeter fencing, exterior lighting, pavilion with picnic tables, barbecue grills and beautiful landscaping. La Esperanza offers an active social services program to fit resident needs.
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When you’re building for the common good, we want in on the ground floor.
Our financial structure includes $4.4M of tax credit equity from Regions Bank, a $1.5M USDA 538 Loan through Bonneville Mortgage, a $1M TDHCA federal HOME Loan; a property tax abatement from Starr County and a waiver of permitting fees from the City of Rio Grande City. A true public-private partnership. La Esperanza Del Rio is located at 315 Butterfly Garden Drive west of Eisenhower Road and FM 3167 next to the General Sanchez Elementary School. The property’s convenient location to the elementary school, middle school as well as hospital, county offices and shopping make this an ideal location for families and individuals seeking a beautiful quality apartment community at affordable rents. Special Thanks to: Brownstone Affordable Housing Ltd. Brownstone Construction Ltd. Leslie Holleman and Associates Rick Schell Attorney at Law UAH Property Management Melden & Hunt, Inc. and Medina Consulting Company, Inc. Developer: Casa Linda Development Corporation, Dallas, Texas; Linda S. Brown and Sara Reidy Syndicator: Regions Bank Lender: USDA 538 through Bonneville Mortgage Company, HOME Loan through Texas Department of Housing and Community Affairs Architect: Jim Gwin Architects, Houston, Texas
Regions’ experience in the affordable housing industry helps you realize your vision. Just like you, your Regions Relationship Manager is focused on a long-term relationship – not just a single transaction. You can rely on our deep industry knowledge and experience to help you capitalize on low-income housing tax credit opportunities. Our team of specialists will also help you take advantage of funding sources you may not have considered and will assist with everything from helping you structure your transaction to placement of your permanent loan. We believe in your goals. Call us to see why we’re the people who can help you reach them.
Brian Coffee
| brian.coffee@regions.com | 205.264.5613
Capital Markets
| Treasury Management | Wealth Management
© 2016 Regions Bank. All loans and lines of credit are subject to credit approval, terms and conditions. Business Capital services are offered to eligible clients subject to asset and net worth requirements; credit, security and documentation requirements; terms; conditions and fees. | Regions and the Regions logo are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.
Texas
Investment and Insurance Products: Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value Notabl Deposits Not Insured by AnyMagazine Federal Government Agency AffoAre rd e| Are Housing Are Not a Condition of Any Banking Activity
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La Esperanza Del Rio
La Esperanza Del Rio 315 Butterfly Garden Drive Rio Grande City, Texas La Esperanza Del Rio “The Hope of the River” is a 60-unit affordable apartment community for families located on the Texas Mexico border in Rio Grande City, Starr County, Texas. La Esperanza Del Rio is the first multi-family development for families in Rio Grande City to be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Fifty units are available for families earning 30% to 60% of the Area Median Income (AMI) and 10 units are available at market rate rents. Five percent of the units are set aside for veterans. La Esperanza Del Rio is a $7.3 million development that features 16 one-bedroom, 26 two-bedroom, and 18 three bedroom units ranging from 720 - 1240 square feet. Unit amenities include full size energy efficient appliances including refrigerators with ice makers, stove/oven, built-in microwave, garbage disposal, and dishwasher along with washer/dryer connections. Community amenities include a community clubhouse with warming kitchen, common area Wi-Fi, on-site leasing office with property manager, community laundry, playscape, perimeter fencing, exterior lighting, pavilion with picnic tables, barbecue grills and beautiful landscaping. La Esperanza offers an active social services program to fit resident needs.
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When you’re building for the common good, we want in on the ground floor.
Our financial structure includes $4.4M of tax credit equity from Regions Bank, a $1.5M USDA 538 Loan through Bonneville Mortgage, a $1M TDHCA federal HOME Loan; a property tax abatement from Starr County and a waiver of permitting fees from the City of Rio Grande City. A true public-private partnership. La Esperanza Del Rio is located at 315 Butterfly Garden Drive west of Eisenhower Road and FM 3167 next to the General Sanchez Elementary School. The property’s convenient location to the elementary school, middle school as well as hospital, county offices and shopping make this an ideal location for families and individuals seeking a beautiful quality apartment community at affordable rents. Special Thanks to: Brownstone Affordable Housing Ltd. Brownstone Construction Ltd. Leslie Holleman and Associates Rick Schell Attorney at Law UAH Property Management Melden & Hunt, Inc. and Medina Consulting Company, Inc. Developer: Casa Linda Development Corporation, Dallas, Texas; Linda S. Brown and Sara Reidy Syndicator: Regions Bank Lender: USDA 538 through Bonneville Mortgage Company, HOME Loan through Texas Department of Housing and Community Affairs Architect: Jim Gwin Architects, Houston, Texas
Regions’ experience in the affordable housing industry helps you realize your vision. Just like you, your Regions Relationship Manager is focused on a long-term relationship – not just a single transaction. You can rely on our deep industry knowledge and experience to help you capitalize on low-income housing tax credit opportunities. Our team of specialists will also help you take advantage of funding sources you may not have considered and will assist with everything from helping you structure your transaction to placement of your permanent loan. We believe in your goals. Call us to see why we’re the people who can help you reach them.
Brian Coffee
| brian.coffee@regions.com | 205.264.5613
Capital Markets
| Treasury Management | Wealth Management
© 2016 Regions Bank. All loans and lines of credit are subject to credit approval, terms and conditions. Business Capital services are offered to eligible clients subject to asset and net worth requirements; credit, security and documentation requirements; terms; conditions and fees. | Regions and the Regions logo are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.
Texas
Investment and Insurance Products: Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value Notabl Deposits Not Insured by AnyMagazine Federal Government Agency AffoAre rd e| Are Housing Are Not a Condition of Any Banking Activity
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StoneLeaf at Eustace
Silver Glen
StoneLeaf at Eustace 320 FM 316 Eustace, Texas
Silver Glen 7601 Curry Road Houston, Texas 77093
StoneLeaf at Eustace is a 49 unit apartment community located at 320 FM 316 in Eustace, Henderson County, Texas. This family community serves the general population of this rural town.
Silver Glen offers 1, 2, 3 & 4 bedroom affordable apartment homes. Our residents enjoy endless amenities including, but not limited to, clubhouse with business center, playground, picnic and grilling areas, gated community, and on-site laundry center.
List of on-site amenities: • On site laundry center • Clubhouse and business center • Gated community • Several picnic & grill areas • Private entrance to apartment home • Spacious kitchen • Playgrounds • On-site courtesy patrol • Close to public bus line
Type of Funding: Housing Tax Credit and Project Based Section 8
Green initiative: All appliances and lighting are energy efficient
The property was developed by StoneLeaf Development Partners, LLC, in partnership with Boston Capital and was designed by Cross Architects. CommunityBank of Texas provided the construction loan and the permanent lender is the United States Department of Agriculture 538 program, originated by Bonneville Mortgage Company. StoneLeaf Development built a family property that helps meet the needs of the community, while providing an aesthetically pleasing development that the city is proud of, as well as adding income to the local economy. The City of Eustace provided in-kind contributions which greatly helped in bringing safe affordable housing to its citizens. The community was 100% leased within 30 days of completion of construction. StoneLeaf at Eustace features 1, 2, and 3 bedroom apartment homes and serves the
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physically impaired population as well as the general population in the 30%, 50% and 60% brackets of area median income. The property incorporated National Green Building Standards and achieved a NAHB Green Certification. All units feature washer and dryer connections, granite countertops, Energy Star appliances, walk in closets, ceiling fans, living area with vaulted ceilings and covered patios with storage closets. Community amenities include gated access, covered parking, playground, pickle ball court, gazebo, BBQ grill, spacious clubhouse with work out facilities, business center, and large community room with kitchen designed to host community events.
Number of units and Composition: 160 multifamily apartment homes, 17 residential buildings and one community building. Each building is 2 story garden style and consists of 36 one bedrooms, 60 two bedrooms, 60 three bedrooms and four 4 bedrooms. The property is 100% Section 42 & Project Based Section 8 and all units are rent income restricted to 30%, 50% and 60% AMGI. Resident Profiles: Families Developer(s): Dominium Syndicator(s): Wells Fargo Community Lending & Investment Lender Name: Dougherty Mortgage, LLC
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StoneLeaf at Eustace
Silver Glen
StoneLeaf at Eustace 320 FM 316 Eustace, Texas
Silver Glen 7601 Curry Road Houston, Texas 77093
StoneLeaf at Eustace is a 49 unit apartment community located at 320 FM 316 in Eustace, Henderson County, Texas. This family community serves the general population of this rural town.
Silver Glen offers 1, 2, 3 & 4 bedroom affordable apartment homes. Our residents enjoy endless amenities including, but not limited to, clubhouse with business center, playground, picnic and grilling areas, gated community, and on-site laundry center.
List of on-site amenities: • On site laundry center • Clubhouse and business center • Gated community • Several picnic & grill areas • Private entrance to apartment home • Spacious kitchen • Playgrounds • On-site courtesy patrol • Close to public bus line
Type of Funding: Housing Tax Credit and Project Based Section 8
Green initiative: All appliances and lighting are energy efficient
The property was developed by StoneLeaf Development Partners, LLC, in partnership with Boston Capital and was designed by Cross Architects. CommunityBank of Texas provided the construction loan and the permanent lender is the United States Department of Agriculture 538 program, originated by Bonneville Mortgage Company. StoneLeaf Development built a family property that helps meet the needs of the community, while providing an aesthetically pleasing development that the city is proud of, as well as adding income to the local economy. The City of Eustace provided in-kind contributions which greatly helped in bringing safe affordable housing to its citizens. The community was 100% leased within 30 days of completion of construction. StoneLeaf at Eustace features 1, 2, and 3 bedroom apartment homes and serves the
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physically impaired population as well as the general population in the 30%, 50% and 60% brackets of area median income. The property incorporated National Green Building Standards and achieved a NAHB Green Certification. All units feature washer and dryer connections, granite countertops, Energy Star appliances, walk in closets, ceiling fans, living area with vaulted ceilings and covered patios with storage closets. Community amenities include gated access, covered parking, playground, pickle ball court, gazebo, BBQ grill, spacious clubhouse with work out facilities, business center, and large community room with kitchen designed to host community events.
Number of units and Composition: 160 multifamily apartment homes, 17 residential buildings and one community building. Each building is 2 story garden style and consists of 36 one bedrooms, 60 two bedrooms, 60 three bedrooms and four 4 bedrooms. The property is 100% Section 42 & Project Based Section 8 and all units are rent income restricted to 30%, 50% and 60% AMGI. Resident Profiles: Families Developer(s): Dominium Syndicator(s): Wells Fargo Community Lending & Investment Lender Name: Dougherty Mortgage, LLC
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An Opportunity for Success
2016 TDHCA
The Trails at Carmel Creek
Calendar SCHEDULE Board/Committee Meeting July 28 Board/Committee Meeting August 25 Board/Committee Meeting September 8 Audit Committee Meeting October 13 Board/Committee Meeting October 13 Board/Committee Meeting November 10
We strive to place affordable developments in locations with better schools, access to healthcare and job opportunities, and quality shopping choices. For those living in affordable communities, this presents a higher opportunity to be successful in life. The Texas Department of Housing and Community Affairs (TDHCA) invests in fair housing choices and higher opportunities for Texans. We are excited to connect with attendees at this year’s conference and TAAHP into the Future of Affordable Housing.
Board/Committee Meeting December 15
the trails at Carmel Creek 300 Carl Stern Drive Hutto, Texas 78634
On-site amenities: Gazebo with sitting area, fitness center, business center, community room and dining area, art room and theater.
New construction senior community located in a new master planned community. The development is comprised of 6 single-story multi-plex residential buildings and 1 two-story elevator building with apartment units, amenities, and a porte-cochere.
List of support services offered: Residents at The Trails at Carmel Creek enjoy a wide range of planned activities including barbecues and coffee socials. A sampling of the services and programs offered include twice a week exercise classes, art classes, knitting classes, writing classes, once a week movie nights and various health screenings.
Type of Funding: 9% LIHTC and TDHCA HOME Number of Units and Composition: 61 units – 5 units at 30% AMI, 9 units at 50% AMI, 36 units at 60% AMI, and 11 market rate units. Resident Profiles: Active Seniors Developers: DMA Development Company, LLC and JSA Development Company, LLC Syndicator: RBC Tax Credit Equity, LLC Lender Name: Capital One Bank, N.A.
P.O. Box 13941, Austin, TX 78711 512-475-3800 • 800-525-0657 info@tdhca.state.tx.us • www.tdhca.state.tx.us See what’s happening on our social sites: @TDHCA
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Architect: Nelsen Partners, Inc.
Green initiative: All units feature Energy Star rated appliances, including water heaters. The property provides recycling services, water conserving fixtures, and native trees and plants that provide shade in the summer months. Special design features: The Trails at Carmel Creek features 34 single-story cottage style units with front porches and carports which gives the community a neighborhood aesthetic and feel. The two-story main building features a porte-cochere for easy pick-up and drop-off, a community theater and a kitchen for gatherings and events.
TDHCA
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An Opportunity for Success
2016 TDHCA
The Trails at Carmel Creek
Calendar SCHEDULE Board/Committee Meeting July 28 Board/Committee Meeting August 25 Board/Committee Meeting September 8 Audit Committee Meeting October 13 Board/Committee Meeting October 13 Board/Committee Meeting November 10
We strive to place affordable developments in locations with better schools, access to healthcare and job opportunities, and quality shopping choices. For those living in affordable communities, this presents a higher opportunity to be successful in life. The Texas Department of Housing and Community Affairs (TDHCA) invests in fair housing choices and higher opportunities for Texans. We are excited to connect with attendees at this year’s conference and TAAHP into the Future of Affordable Housing.
Board/Committee Meeting December 15
the trails at Carmel Creek 300 Carl Stern Drive Hutto, Texas 78634
On-site amenities: Gazebo with sitting area, fitness center, business center, community room and dining area, art room and theater.
New construction senior community located in a new master planned community. The development is comprised of 6 single-story multi-plex residential buildings and 1 two-story elevator building with apartment units, amenities, and a porte-cochere.
List of support services offered: Residents at The Trails at Carmel Creek enjoy a wide range of planned activities including barbecues and coffee socials. A sampling of the services and programs offered include twice a week exercise classes, art classes, knitting classes, writing classes, once a week movie nights and various health screenings.
Type of Funding: 9% LIHTC and TDHCA HOME Number of Units and Composition: 61 units – 5 units at 30% AMI, 9 units at 50% AMI, 36 units at 60% AMI, and 11 market rate units. Resident Profiles: Active Seniors Developers: DMA Development Company, LLC and JSA Development Company, LLC Syndicator: RBC Tax Credit Equity, LLC Lender Name: Capital One Bank, N.A.
P.O. Box 13941, Austin, TX 78711 512-475-3800 • 800-525-0657 info@tdhca.state.tx.us • www.tdhca.state.tx.us See what’s happening on our social sites: @TDHCA
54
Architect: Nelsen Partners, Inc.
Green initiative: All units feature Energy Star rated appliances, including water heaters. The property provides recycling services, water conserving fixtures, and native trees and plants that provide shade in the summer months. Special design features: The Trails at Carmel Creek features 34 single-story cottage style units with front porches and carports which gives the community a neighborhood aesthetic and feel. The two-story main building features a porte-cochere for easy pick-up and drop-off, a community theater and a kitchen for gatherings and events.
TDHCA
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The Trails at Carmel Creek
Proud to Support TAAHP RBC Capital Markets raised more than $722 million in tax credit equity and senior managed over $2.2 billion in single and multifamily housing bonds in 2015. We continue our strong advocacy for the Housing Credit program and thank our investors, developers and industry associates for their partnership in supporting affordable housing communities across the country. Aldrich 51 Austin, Texas DMA Development Company, LLC
Dan Kierce Tax Credit Equity daniel.kierce@rbccm.com
Helen Feinberg Bond Underwriting helen.feinberg@rbccm.com
rbccm.com/tceg | rbccm.com/housingfinancegroup Source: Thomson Financial. This advertisement is for informational purposes only. RBC Capital Markets is a registered trademark of Royal Bank of Canada. RBC Capital Markets is the global brand name for the capital markets business of Royal Bank of Canada and its affiliates, including RBC Capital Markets, LLC (member FINRA, NYSE and SIPC). Ž Registered trademark of Royal Bank of Canada. Used under license. Š Copyright 2016. All rights reserved.
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The Trails at Carmel Creek
Proud to Support TAAHP RBC Capital Markets raised more than $722 million in tax credit equity and senior managed over $2.2 billion in single and multifamily housing bonds in 2015. We continue our strong advocacy for the Housing Credit program and thank our investors, developers and industry associates for their partnership in supporting affordable housing communities across the country. Aldrich 51 Austin, Texas DMA Development Company, LLC
Dan Kierce Tax Credit Equity daniel.kierce@rbccm.com
Helen Feinberg Bond Underwriting helen.feinberg@rbccm.com
rbccm.com/tceg | rbccm.com/housingfinancegroup Source: Thomson Financial. This advertisement is for informational purposes only. RBC Capital Markets is a registered trademark of Royal Bank of Canada. RBC Capital Markets is the global brand name for the capital markets business of Royal Bank of Canada and its affiliates, including RBC Capital Markets, LLC (member FINRA, NYSE and SIPC). Ž Registered trademark of Royal Bank of Canada. Used under license. Š Copyright 2016. All rights reserved.
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lakeside Manor
lakeside Manor 902 W Eldorado Parkway Little Elm, Texas 75068 Lakeside Manor offers seniors age 62 & better 1 & 2 bedroom affordable apartment homes. Our residents enjoy endless amenities including, but not limited to clubhouse with party room & kitchen, fitness center with sauna, outdoor pool & indoor hot tub. Type of Funding: Housing Tax Credit Number of units and Composition: 176 multi-family apartment homes, 26 residential buildings and one community building. Each building is 1 story cottage style and consists of 144 one bedrooms and 32 two bedrooms. The property is 100% Section 42 and all units are rent income restricted to 50% and 60% AMI.
List of support services offered:
• Financial planning assistance • Social events such as catered Saturday Social
Hour, holiday dinners, and morning coffee
• Green initiative (ie. LEED certifications,
Energy Star appliances)
• Tankless water heaters • Double pane windows
Special design features:
• One story apartments. No one living above or
below you.
• Granite countertops • Vaulted ceilings in living rooms • Hardwood flooring • Built in computer desk • Easy walk up access with no steps or stairs • Garages and covered parking available
Resident Profiles: Seniors Developer: Dominium Syndicator: WNC & Associates Lender Names: Dougherty Mortgage, LLC List of on-site amenities: • Clubhouse with party room, theater, beauty salon, arts & crafts room, and a pool table • Business center • Fitness center • Indoor spa • Salt water swimming pool • Covered parking • Gated community • Free water and trash pick-up • Computer facilities with Internet access • Community garden
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lakeside Manor
lakeside Manor 902 W Eldorado Parkway Little Elm, Texas 75068 Lakeside Manor offers seniors age 62 & better 1 & 2 bedroom affordable apartment homes. Our residents enjoy endless amenities including, but not limited to clubhouse with party room & kitchen, fitness center with sauna, outdoor pool & indoor hot tub. Type of Funding: Housing Tax Credit Number of units and Composition: 176 multi-family apartment homes, 26 residential buildings and one community building. Each building is 1 story cottage style and consists of 144 one bedrooms and 32 two bedrooms. The property is 100% Section 42 and all units are rent income restricted to 50% and 60% AMI.
List of support services offered:
• Financial planning assistance • Social events such as catered Saturday Social
Hour, holiday dinners, and morning coffee
• Green initiative (ie. LEED certifications,
Energy Star appliances)
• Tankless water heaters • Double pane windows
Special design features:
• One story apartments. No one living above or
below you.
• Granite countertops • Vaulted ceilings in living rooms • Hardwood flooring • Built in computer desk • Easy walk up access with no steps or stairs • Garages and covered parking available
Resident Profiles: Seniors Developer: Dominium Syndicator: WNC & Associates Lender Names: Dougherty Mortgage, LLC List of on-site amenities: • Clubhouse with party room, theater, beauty salon, arts & crafts room, and a pool table • Business center • Fitness center • Indoor spa • Salt water swimming pool • Covered parking • Gated community • Free water and trash pick-up • Computer facilities with Internet access • Community garden
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el Paso rad
ALDEN
Alden Capital Partners (“ACP”) is the syndication division of Alden Torch Financial, LLC (“Alden Torch”). ACP specializes in the syndication of Federal and State Low-Income Housing, Historic and Solar Tax Credits, and has successfully raised over $1 billion in tax credit equity.
PARTNERS
Alden Torch has grown to over 150 employees, managing $12.8 billion in assets representing over 1,500 project partnerships encompassing over 200,000 units.
CAPITAL For Developer Inquiries: DANA MAYO Executive Vice President 818-380-6130 dana.mayo@aldentorch.com
el paso rAD 13 Properties located in El Paso, TX The Housing Authority of the City of El Paso (HACEP) was the first Public Housing Authority (PHA) to have its entire portfolio (6,100 units) approved for rehabilitation under the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration (RAD) program. El Paso RAD I, the first phase of HACEP’s portfolio renovation plan, is, to date, the largest RAD transaction to close in the country. When completed, RAD I will provide 1,590 newly renovated multifamily and single family units to low-income families throughout 13 different properties across the City of El Paso. These properties will offer one, two, three, four, five and six bedroom plans to residents who make at or below 60% of the area median income (AMI). All existing tenants, including those whose income exceeds 60% AMI, will have the opportunity to return to their communities. Residents will live in quality, sustainable housing with EnergyStar appliances, energy efficient systems and xeriscape yards. Families will enjoy new basketball courts, playgrounds and gymnasiums. Construction for the project began in April 2015 and is scheduled for completion by Spring 2017. Orchestrating the rehabilitation of 1,590 units over a two-year period was a massive undertaking. HACEP rose to the challenge by making it a
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OMAR CHAUDHRY 972-803-3416 omar.chaudhry@aldentorch.com
RICHARD COOMBER 857-305‐4108 richard.coomber@aldentorch.com
STEVE BIEN 813-731‐1244 steve.bien@aldentorch.com
priority to keep residents informed, having children stay in existing schools, minimizing transportation disruption, and keeping resident relationships intact during the rehabilitation period. Development and Financing To launch RAD I, HACEP partnered with Hunt Companies, Inc. to co-develop the property. The total development cost of RAD I was $241 million, partially financed by over $80 million in 4% lowincome housing tax credits (LITHTC), which were syndicated by Alden Capital Partners. Alden Capital Partners’ structuring of this deal was critical in maximizing the benefits of the LIHTCs and minimizing the risk to investors. One of the main structural aspects of the transaction was bundling the properties into a single partnership to control transaction costs. Bundling of the properties allowed for a single permanent loan secured by all 13 properties. This effectively allowed certain properties’ NOI to subsidize other properties that might not be able to service their pro rata allocation of the permanent loan. Additionally, by structuring the rehabilitation as a tenant-in-place “rolling” rehab, a substantial amount of tax credits could be available for investors immediately, thus improving LIHTC pricing and increasing equity available for rehabilitation of the properties. These strategies played an instrumental role in driving investor interest and securing funding for the deal.
AFFORDABLE HOUSING Tidwell Group has a national presence in tax credits and affordable housing and services clients in all aspects of the affordable housing industry. The firm's affordable housing team is adept at navigating tax credit issues, ranging from bond and conventional financing to HUD/USDA - RD compliance and reporting. Our team has the experience to help you! A sample of Tidwell Group's affordable housing team experience includes serving all asset classes within the affordable housing and not for profit space including: Developers
Affordable Housing Tax Credits HUD Programs
USDA-RD Programs
Not-For Profit Charitable, Religious and Social Welfare Entities Mixed-use
Seniors Housing
We have resources and experience in the entire project life cycle - from initial application and underwriting to year 15 exit strategies and divestitures. Let us guide you! Business Advisory
Audit & Assurance
Tax
Industry Focused
Creating Value
Providing Results
BIRMINGHAM
ATLANTA
AUSTIN
WWW.TIDWELLGROUP.COM Texas affo rd abl e Housing Magazine
61
el Paso rad
ALDEN
Alden Capital Partners (“ACP”) is the syndication division of Alden Torch Financial, LLC (“Alden Torch”). ACP specializes in the syndication of Federal and State Low-Income Housing, Historic and Solar Tax Credits, and has successfully raised over $1 billion in tax credit equity.
PARTNERS
Alden Torch has grown to over 150 employees, managing $12.8 billion in assets representing over 1,500 project partnerships encompassing over 200,000 units.
CAPITAL For Developer Inquiries: DANA MAYO Executive Vice President 818-380-6130 dana.mayo@aldentorch.com
el paso rAD 13 Properties located in El Paso, TX The Housing Authority of the City of El Paso (HACEP) was the first Public Housing Authority (PHA) to have its entire portfolio (6,100 units) approved for rehabilitation under the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration (RAD) program. El Paso RAD I, the first phase of HACEP’s portfolio renovation plan, is, to date, the largest RAD transaction to close in the country. When completed, RAD I will provide 1,590 newly renovated multifamily and single family units to low-income families throughout 13 different properties across the City of El Paso. These properties will offer one, two, three, four, five and six bedroom plans to residents who make at or below 60% of the area median income (AMI). All existing tenants, including those whose income exceeds 60% AMI, will have the opportunity to return to their communities. Residents will live in quality, sustainable housing with EnergyStar appliances, energy efficient systems and xeriscape yards. Families will enjoy new basketball courts, playgrounds and gymnasiums. Construction for the project began in April 2015 and is scheduled for completion by Spring 2017. Orchestrating the rehabilitation of 1,590 units over a two-year period was a massive undertaking. HACEP rose to the challenge by making it a
60
Texas affordable Housi ng M agazi ne
OMAR CHAUDHRY 972-803-3416 omar.chaudhry@aldentorch.com
RICHARD COOMBER 857-305‐4108 richard.coomber@aldentorch.com
STEVE BIEN 813-731‐1244 steve.bien@aldentorch.com
priority to keep residents informed, having children stay in existing schools, minimizing transportation disruption, and keeping resident relationships intact during the rehabilitation period. Development and Financing To launch RAD I, HACEP partnered with Hunt Companies, Inc. to co-develop the property. The total development cost of RAD I was $241 million, partially financed by over $80 million in 4% lowincome housing tax credits (LITHTC), which were syndicated by Alden Capital Partners. Alden Capital Partners’ structuring of this deal was critical in maximizing the benefits of the LIHTCs and minimizing the risk to investors. One of the main structural aspects of the transaction was bundling the properties into a single partnership to control transaction costs. Bundling of the properties allowed for a single permanent loan secured by all 13 properties. This effectively allowed certain properties’ NOI to subsidize other properties that might not be able to service their pro rata allocation of the permanent loan. Additionally, by structuring the rehabilitation as a tenant-in-place “rolling” rehab, a substantial amount of tax credits could be available for investors immediately, thus improving LIHTC pricing and increasing equity available for rehabilitation of the properties. These strategies played an instrumental role in driving investor interest and securing funding for the deal.
AFFORDABLE HOUSING Tidwell Group has a national presence in tax credits and affordable housing and services clients in all aspects of the affordable housing industry. The firm's affordable housing team is adept at navigating tax credit issues, ranging from bond and conventional financing to HUD/USDA - RD compliance and reporting. Our team has the experience to help you! A sample of Tidwell Group's affordable housing team experience includes serving all asset classes within the affordable housing and not for profit space including: Developers
Affordable Housing Tax Credits HUD Programs
USDA-RD Programs
Not-For Profit Charitable, Religious and Social Welfare Entities Mixed-use
Seniors Housing
We have resources and experience in the entire project life cycle - from initial application and underwriting to year 15 exit strategies and divestitures. Let us guide you! Business Advisory
Audit & Assurance
Tax
Industry Focused
Creating Value
Providing Results
BIRMINGHAM
ATLANTA
AUSTIN
WWW.TIDWELLGROUP.COM Texas affo rd abl e Housing Magazine
61
North Desert Palms
North Desert Palms 11001 Dyer St. El Paso, TX 79934 North Desert Palms, located at 11001 Dyer Street, has obtained a Silver Level Certification, based on the property’s potential for reduced tenant utility bills, resources that positively impact occupant health, and the overall promotion of renewable energy. Among the many sustainable features, North Desert Palms offers close proximity to public transit, schools and employment areas. North Desert Palms also offers appliances to promote water conservation, high efficiency plumbing fixtures and appliances, as well as heating, ventilation and cooling. Tropicana Properties president, Demetrio Jimenez conveyed the company’s excitement stating that, “We are so proud to bring El Paso’s first Silver LEED Certified apartment complex to the market place. Our tenants will benefit greatly from utility savings and we’re doing our part to preserve the environment.” Tropicana Building II recently completed its second LEED Certified complex, Verde Palms, which received a Gold Level Certification. This project was also executed in cooperation with the City’s Green Building.
Resident profiles: Single families, single room occupancy Developer: Tropicana Building II. LLC , Tropicana Properties, INC, R.L. “Bobby” Bowling IV Syndicator: The Richman Group, CDT Lender name: Bank of America Architect: Fred Perez of ARTchitecture firm List of on-site Amenities: • Gazebo w/sitting area • Barbecue grill and picnic table, at least one of each for every 50 Units • Covered pavilion that includes barbecue grills and tables with at least one grill and table for every 50 units • Business center with computer learning center equipped with basic programs • Furnished community room • Library with an accessible sitting area • Enclosed community sun porch or covered community porch/patio • Two Children’s Playscapes equipped for 5 to 12 year olds, two Tot Lots, or one of each • Sport Court (Tennis, Basketball or Volleyball) • Secured bicycle parking • Green Building Certifications
Description of property: North Desert Palms is a mission style single family complex with 1 to 4 bedroom apartments, built with a green building initiative with the City of El Paso with the goal of cutting utility costs and achieving greater energy efficiency. Type of funding: Tax Credits Number of units and composition: 152 unit complex with 100 low income tax credit units and 52 market rate apartments.
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North Desert Palms
North Desert Palms 11001 Dyer St. El Paso, TX 79934 North Desert Palms, located at 11001 Dyer Street, has obtained a Silver Level Certification, based on the property’s potential for reduced tenant utility bills, resources that positively impact occupant health, and the overall promotion of renewable energy. Among the many sustainable features, North Desert Palms offers close proximity to public transit, schools and employment areas. North Desert Palms also offers appliances to promote water conservation, high efficiency plumbing fixtures and appliances, as well as heating, ventilation and cooling. Tropicana Properties president, Demetrio Jimenez conveyed the company’s excitement stating that, “We are so proud to bring El Paso’s first Silver LEED Certified apartment complex to the market place. Our tenants will benefit greatly from utility savings and we’re doing our part to preserve the environment.” Tropicana Building II recently completed its second LEED Certified complex, Verde Palms, which received a Gold Level Certification. This project was also executed in cooperation with the City’s Green Building.
Resident profiles: Single families, single room occupancy Developer: Tropicana Building II. LLC , Tropicana Properties, INC, R.L. “Bobby” Bowling IV Syndicator: The Richman Group, CDT Lender name: Bank of America Architect: Fred Perez of ARTchitecture firm List of on-site Amenities: • Gazebo w/sitting area • Barbecue grill and picnic table, at least one of each for every 50 Units • Covered pavilion that includes barbecue grills and tables with at least one grill and table for every 50 units • Business center with computer learning center equipped with basic programs • Furnished community room • Library with an accessible sitting area • Enclosed community sun porch or covered community porch/patio • Two Children’s Playscapes equipped for 5 to 12 year olds, two Tot Lots, or one of each • Sport Court (Tennis, Basketball or Volleyball) • Secured bicycle parking • Green Building Certifications
Description of property: North Desert Palms is a mission style single family complex with 1 to 4 bedroom apartments, built with a green building initiative with the City of El Paso with the goal of cutting utility costs and achieving greater energy efficiency. Type of funding: Tax Credits Number of units and composition: 152 unit complex with 100 low income tax credit units and 52 market rate apartments.
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Providing financial expertise and capabilities to help create affordable housing nationwide. Valerie A. Williams Senior Vice President valerie.a.williams@baml.com bofaml.com/commercialre
“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, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. Merrill Lynch, Pierce, Fenner & Smith, Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed. ©2016 Bank of America Corporation. GCB-148-AD ARTLSSLG
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Providing financial expertise and capabilities to help create affordable housing nationwide. Valerie A. Williams Senior Vice President valerie.a.williams@baml.com bofaml.com/commercialre
“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, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. Merrill Lynch, Pierce, Fenner & Smith, Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed. ©2016 Bank of America Corporation. GCB-148-AD ARTLSSLG
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Schedule At-A-Glance
Monday, July 25, 2016 7:30 am - 5:00 pm Conference Registration Opens 8:00 am - 1:00 pm Mike Lankford Memorial Golf Tournament * 9:30 am - 3:30 pm Breakout Sessions (HUD) HUD’S New and Improved Procedures for FHA - Insured Loans, Marrying Tax Credits and FHA Financing, 221(d)(4) Tax Credit Pilot Program, RAD: The Latest News and Hot Topics 10:00 am - 2:00 pm An Introduction to Housing Tax Credits in Texas Workshop 12:00 pm - 1:00 pm HUD Keynote Luncheon Speakers- Tammye Treviño & Nicolas Ramon MIP for Energy Efficient & Affordable Housing 2:00 pm - 7:00 pm Exhibits Open 3:30 pm - 4:15 pm TAAHP Membership Meeting 4:15 pm - 5:00 pm Opening Keynote Speaker - Michael Ray Newman, CEO Zig Ziglar 5:00 pm - 7:00 pm Opening Reception (Wine Trail) Tuesday, July 26, 2016
7:00 am - 5:00 pm Registration Desk Open 7:30 am - 8:30 am Breakfast Keynote Speaker Dr. Robert Dietz, NAHB Chief Economist for National Association of Home Builders 8:30 am - 9:45 am Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 9:30 am - 6:30 pm Exhibits Open 9:45 am - 10:15 am Refreshment & Snack Break 10:30 am - 11:45 am Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 12:00 pm - 1:30 pm Luncheon Certified Keynote Speaker Curt Steinhorst, The Center for Generational Kinetics 1:45 pm - 3:00 pm Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 3:00 pm - 3:30 pm Refreshment & Snack Break 3:30 pm - 4:45 pm Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 5:00 pm - 6:30 pm Conference Reception Wednesday, July 27, 2016 7:30 am - 10:00 am Registration Desk Open 8:30 am - 12:30 pm Policy Brunch (What our Friends are Saying, What the Legislature is Saying, and What our Regulators are Saying) 12:00 pm Conference Adjournment 12:30 pm - 12:45 pm Mike Lankford Memorial Golf Awards 12:00 pm - 5:00 pm Spa Day at the W Hotel Away Spa *
E x e c u t i v e
D i r e c t o r
Welcome to the 2016 Texas Housing Conference! It Was A Very Good Year Mahesh and the Board of Directors have been busy since last year’s Texas Housing Conference. We have continued to tighten the operation of the organization as you can see by the proposed by-laws amendments. We have money in the bank. We have active volunteers. We have a common goal: quality, affordable housing. We have ideas to improve the development process. We have momentum and we have the tools to take advantage of this momentum. There are a number of opportunities at this conference for you to share your ideas and increase that momentum. Please enjoy. Working With TDHCA We continue to enjoy our relationship with TDHCA through Tim and his hard-working staff. We have been active in commenting on several of the rules proposed by TDHCA and we are anticipating more proposals on compliance, utilities and fair housing. In that regard, TAAHP hired its first Policy Director, Tanya Lavelle, to increase our responsiveness to TDHCA proposals. We engaged in a series of roundtable meetings of affordable housing stakeholders organized by TDHCA to suggest improvements to the draft 2017 QAP while it was still a draft. It is possible that the 2017 QAP could be used with very little change in 2018, providing a measure of stability to the planning process. Once again, TAAHP volunteers were prolific contributors in this process. Legislative Preparations Continue The Texas Legislature will not be back in regular session until January of 2017. Since the 2015 legislative session, we have been working with members of the House Urban Affairs Committee to draw attention to the NIMBY attitude toward affordable housing in a number of locations. The committee’s hearing in June went extremely well with seven TAAHP members testifying for TAAHP, other organizations or themselves. Much of the testimony targeted the practice of legislators writing support or opposition letters for planned developments and the increase in NIMBY-ism that led to the creation of the letters in the first place. We look forward to presenting the case for doing away with the legislative letters when the legislature returns. Making It All Possible It was another good year for the organization and, as is the case with most respected trade associations, our achievements were the result of the strong volunteer participation, including our board of directors, committee members, and all who attended and participated in the organization’s functions. Please support our sponsors who make possible the many activities we benefit from. From where I sit, I can see only opportunity.
* Not included with Conference, Sold Separately
Frank Jackson Executive Director, TAAHP
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Schedule At-A-Glance
Monday, July 25, 2016 7:30 am - 5:00 pm Conference Registration Opens 8:00 am - 1:00 pm Mike Lankford Memorial Golf Tournament * 9:30 am - 3:30 pm Breakout Sessions (HUD) HUD’S New and Improved Procedures for FHA - Insured Loans, Marrying Tax Credits and FHA Financing, 221(d)(4) Tax Credit Pilot Program, RAD: The Latest News and Hot Topics 10:00 am - 2:00 pm An Introduction to Housing Tax Credits in Texas Workshop 12:00 pm - 1:00 pm HUD Keynote Luncheon Speakers- Tammye Treviño & Nicolas Ramon MIP for Energy Efficient & Affordable Housing 2:00 pm - 7:00 pm Exhibits Open 3:30 pm - 4:15 pm TAAHP Membership Meeting 4:15 pm - 5:00 pm Opening Keynote Speaker - Michael Ray Newman, CEO Zig Ziglar 5:00 pm - 7:00 pm Opening Reception (Wine Trail) Tuesday, July 26, 2016
7:00 am - 5:00 pm Registration Desk Open 7:30 am - 8:30 am Breakfast Keynote Speaker Dr. Robert Dietz, NAHB Chief Economist for National Association of Home Builders 8:30 am - 9:45 am Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 9:30 am - 6:30 pm Exhibits Open 9:45 am - 10:15 am Refreshment & Snack Break 10:30 am - 11:45 am Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 12:00 pm - 1:30 pm Luncheon Certified Keynote Speaker Curt Steinhorst, The Center for Generational Kinetics 1:45 pm - 3:00 pm Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 3:00 pm - 3:30 pm Refreshment & Snack Break 3:30 pm - 4:45 pm Breakout Sessions (Money, Future Markets, Compliance, Current Issues, Legislative Track) 5:00 pm - 6:30 pm Conference Reception Wednesday, July 27, 2016 7:30 am - 10:00 am Registration Desk Open 8:30 am - 12:30 pm Policy Brunch (What our Friends are Saying, What the Legislature is Saying, and What our Regulators are Saying) 12:00 pm Conference Adjournment 12:30 pm - 12:45 pm Mike Lankford Memorial Golf Awards 12:00 pm - 5:00 pm Spa Day at the W Hotel Away Spa *
E x e c u t i v e
D i r e c t o r
Welcome to the 2016 Texas Housing Conference! It Was A Very Good Year Mahesh and the Board of Directors have been busy since last year’s Texas Housing Conference. We have continued to tighten the operation of the organization as you can see by the proposed by-laws amendments. We have money in the bank. We have active volunteers. We have a common goal: quality, affordable housing. We have ideas to improve the development process. We have momentum and we have the tools to take advantage of this momentum. There are a number of opportunities at this conference for you to share your ideas and increase that momentum. Please enjoy. Working With TDHCA We continue to enjoy our relationship with TDHCA through Tim and his hard-working staff. We have been active in commenting on several of the rules proposed by TDHCA and we are anticipating more proposals on compliance, utilities and fair housing. In that regard, TAAHP hired its first Policy Director, Tanya Lavelle, to increase our responsiveness to TDHCA proposals. We engaged in a series of roundtable meetings of affordable housing stakeholders organized by TDHCA to suggest improvements to the draft 2017 QAP while it was still a draft. It is possible that the 2017 QAP could be used with very little change in 2018, providing a measure of stability to the planning process. Once again, TAAHP volunteers were prolific contributors in this process. Legislative Preparations Continue The Texas Legislature will not be back in regular session until January of 2017. Since the 2015 legislative session, we have been working with members of the House Urban Affairs Committee to draw attention to the NIMBY attitude toward affordable housing in a number of locations. The committee’s hearing in June went extremely well with seven TAAHP members testifying for TAAHP, other organizations or themselves. Much of the testimony targeted the practice of legislators writing support or opposition letters for planned developments and the increase in NIMBY-ism that led to the creation of the letters in the first place. We look forward to presenting the case for doing away with the legislative letters when the legislature returns. Making It All Possible It was another good year for the organization and, as is the case with most respected trade associations, our achievements were the result of the strong volunteer participation, including our board of directors, committee members, and all who attended and participated in the organization’s functions. Please support our sponsors who make possible the many activities we benefit from. From where I sit, I can see only opportunity.
* Not included with Conference, Sold Separately
Frank Jackson Executive Director, TAAHP
66 66
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67
B o a r D
o F
D i r E c t o r s
w E l c o m E A mEssAgE frOm THE PrEsIdEnT
on behalf of the Texas affiliation of affordable Housing Providers, i would like to welcome you to the 2016 Texas Housing Conference. once again, the Conference is enjoying record attendance. it is quite remarkable how membership and attendance has grown over the past eight years since the great recession. it’s a testament to everyone’s efforts to make Texas among the premier markets in the country to develop affordable housing. TaaHP has made great strides in these past eight years. The organization has a broad membership with people from all aspects of the affordable housing industry. This richness of participation has allowed TaaHP to continue to be at the forefront of key housing issues. as the nature of affordable housing development continues to evolve, so has the diversity of our membership. in the past year, TaaHP has focused on cementing the success of our 2015 legislative accomplishments. We continue to engage our membership on important industry issues. additionally, our renewed focus has been to strengthen our relationships with governmental agencies, particularly the Texas department of Housing & Community affairs. our improved dialogue over the past several years has served everyone very well and allowed TaaHP to effectively support our mission of affordable housing. affordable housing issues have evolved on every level: local, state and national. addressing these challenging issues requires ever-increasing resources to thoughtfully consider proposed policy changes, study the effects of prior changes and ensure that we are prepared to advocate effectively. To that end, we are pleased that Tanya lavelle has joined TaaHP as Policy director. Her addition will provide us significant support to engage with our external stakeholders over the coming years. additionally, as our membership grows, TaaHP’s engagement with membership is also growing. We have added considerable communications support for the organization to provide greater responsiveness and capability to keep our members well informed and to encourage engagement.
Top Row, Left to Right: Mahesh Aiyer, President Justin MacDonald, Immediate Past President Bobby Bowling, President Elect Second Row, Left to Right: K. Nicole Flores, First Vice President Debra Guerrero, Second Vice President Valerie Williams, Treasurer Joy Horak-Brown, Secretary
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Third Row, Left to Right: Dan Allgeier Christopher Akbari Tom Dixon Darrell G. Jack Dan Kierce Fourth Row, Left to Right: David Mark Koogler Mark Mayfield Janine Sisak Chris Thomas Ron Williams
Texas affordable Housi ng M agazi ne
Ex-Officio Not Pictured Antoinette M. Jackson Edwina Carrington Mike Clark JOT Couch Barry Kahn Granger MacDonald Dan Markson George Littlejohn Diana McIver Mike Sugrue Jerry Wright
as i look toward handing over the reins to my longtime board colleague and friend, bobby bowling iV, i want to convey our sincerest appreciation to our membership, board, and stakeholders for TaaHP’s success and strength. our ability to advocate for affordable housing is greater today than ever before. i especially want to thank our past Presidents for all they have done for the organization and Texans. in the early days, TaaHP started out as a small group of deeply caring and committed individuals who wanted to make sure that Texas had access to greatly needed affordable housing. Their effort to build TaaHP into a strong advocacy group is a pillar of our success today. These many years later, the same principles apply and TaaHP is well prepared to meet the challenges ahead.
Mahesh aiyer President, TAAHP Texas affo rd abl e Housing Magazine
69
B o a r D
o F
D i r E c t o r s
w E l c o m E A mEssAgE frOm THE PrEsIdEnT
on behalf of the Texas affiliation of affordable Housing Providers, i would like to welcome you to the 2016 Texas Housing Conference. once again, the Conference is enjoying record attendance. it is quite remarkable how membership and attendance has grown over the past eight years since the great recession. it’s a testament to everyone’s efforts to make Texas among the premier markets in the country to develop affordable housing. TaaHP has made great strides in these past eight years. The organization has a broad membership with people from all aspects of the affordable housing industry. This richness of participation has allowed TaaHP to continue to be at the forefront of key housing issues. as the nature of affordable housing development continues to evolve, so has the diversity of our membership. in the past year, TaaHP has focused on cementing the success of our 2015 legislative accomplishments. We continue to engage our membership on important industry issues. additionally, our renewed focus has been to strengthen our relationships with governmental agencies, particularly the Texas department of Housing & Community affairs. our improved dialogue over the past several years has served everyone very well and allowed TaaHP to effectively support our mission of affordable housing. affordable housing issues have evolved on every level: local, state and national. addressing these challenging issues requires ever-increasing resources to thoughtfully consider proposed policy changes, study the effects of prior changes and ensure that we are prepared to advocate effectively. To that end, we are pleased that Tanya lavelle has joined TaaHP as Policy director. Her addition will provide us significant support to engage with our external stakeholders over the coming years. additionally, as our membership grows, TaaHP’s engagement with membership is also growing. We have added considerable communications support for the organization to provide greater responsiveness and capability to keep our members well informed and to encourage engagement.
Top Row, Left to Right: Mahesh Aiyer, President Justin MacDonald, Immediate Past President Bobby Bowling, President Elect Second Row, Left to Right: K. Nicole Flores, First Vice President Debra Guerrero, Second Vice President Valerie Williams, Treasurer Joy Horak-Brown, Secretary
68
Third Row, Left to Right: Dan Allgeier Christopher Akbari Tom Dixon Darrell G. Jack Dan Kierce Fourth Row, Left to Right: David Mark Koogler Mark Mayfield Janine Sisak Chris Thomas Ron Williams
Texas affordable Housi ng M agazi ne
Ex-Officio Not Pictured Antoinette M. Jackson Edwina Carrington Mike Clark JOT Couch Barry Kahn Granger MacDonald Dan Markson George Littlejohn Diana McIver Mike Sugrue Jerry Wright
as i look toward handing over the reins to my longtime board colleague and friend, bobby bowling iV, i want to convey our sincerest appreciation to our membership, board, and stakeholders for TaaHP’s success and strength. our ability to advocate for affordable housing is greater today than ever before. i especially want to thank our past Presidents for all they have done for the organization and Texans. in the early days, TaaHP started out as a small group of deeply caring and committed individuals who wanted to make sure that Texas had access to greatly needed affordable housing. Their effort to build TaaHP into a strong advocacy group is a pillar of our success today. These many years later, the same principles apply and TaaHP is well prepared to meet the challenges ahead.
Mahesh aiyer President, TAAHP Texas affo rd abl e Housing Magazine
69
w e l c o m e
THINK R4
A m e s s a g e f r o m the C o n f e r e n ce chai r w o m a n
It’s that time of year again – when the temperatures are hot, the humidity is up and yet, everyone’s coming down to Austin. In fact, once again we have attendees representing 32 states and all disciplines of the affordable housing industry. It’s going to be another great networking and learning event enhanced by our fabulous new venue here at the beautiful JW Marriott Hotel. We look forward to hosting you this week for the 19th annual Texas Housing Conference sponsored by the Texas Affiliation of Affordable Housing Providers (TAAHP). Like many parts of the great state of Texas and cities across the country, the downtown Austin skyline seems to be exploding with lots of terrific venues within walking distance or a quick pedicab ride away. Be sure to participate in the TAAHP membership meeting and stay after and hear Michael Ray Newman, CEO of Ziglar International, our Opening Keynote Speaker on Monday afternoon. You will not want to miss our Tuesday Breakfast Keynote Speaker Dr. Robert Dietz, Chief Economist for the National Association of Home Builders. Curt Steinhorst (back by popular demand) with the Center for Generational Kinetics is our Keynote Luncheon Speaker on Tuesday. Join us for various sessions across multiple study tracts to ensure you hear the latest market and policy updates along with a host of issues critical to our industry at this time. Stay for Wednesday’s Policy Brunch and hear from TDHCA’s top executives. But when the sessions are over, please enjoy the best Austin has to offer including our famous live music scene and one of the most innovative food scenes in the country. Network. Have fun. Be safe. And go get some deals done!
R4 Capital is a national LIHTC tax credit syndicator founded in 2011. Since then we’ve raised $1.1 billion in equity. We’re here to stay. And we’re growing. This year we launched a tax-exempt debt platform, R4 Capital Funding, offering a Direct Purchase Bond Program to finance affordable housing projects more efficiently. When you’re looking for funding for your next affordable housing development, think R4. New York
70
|
Boston
|
Newport Beach
|
Austin
Texas Affordable Housi ng M agazi ne
Marc D. Schnitzer, President 646 576 7659 | mschnitzer@R4cap.com James Spound, President, R4 Capital Funding 646 844 0935 | jspound@r4cap.com K. Nicole Flores, Executive Vice President 512 575 4751 | nflores@r4cap.com Jay Segel, Executive Vice President 617 502 5946 | jsegel@R4cap.com Ronne Thielen, Executive Vice President 949 438 1050 | rthielen@R4cap.com Paul Connolly, Senior Vice President 646 576 7664 | pconnolly@R4cap.com www.R4cap.com
K. Nicole Flores Chairwoman Texas Housing Conference Texas Affo rd abl e Housing Magazine
71
w e l c o m e
THINK R4
A m e s s a g e f r o m the C o n f e r e n ce chai r w o m a n
It’s that time of year again – when the temperatures are hot, the humidity is up and yet, everyone’s coming down to Austin. In fact, once again we have attendees representing 32 states and all disciplines of the affordable housing industry. It’s going to be another great networking and learning event enhanced by our fabulous new venue here at the beautiful JW Marriott Hotel. We look forward to hosting you this week for the 19th annual Texas Housing Conference sponsored by the Texas Affiliation of Affordable Housing Providers (TAAHP). Like many parts of the great state of Texas and cities across the country, the downtown Austin skyline seems to be exploding with lots of terrific venues within walking distance or a quick pedicab ride away. Be sure to participate in the TAAHP membership meeting and stay after and hear Michael Ray Newman, CEO of Ziglar International, our Opening Keynote Speaker on Monday afternoon. You will not want to miss our Tuesday Breakfast Keynote Speaker Dr. Robert Dietz, Chief Economist for the National Association of Home Builders. Curt Steinhorst (back by popular demand) with the Center for Generational Kinetics is our Keynote Luncheon Speaker on Tuesday. Join us for various sessions across multiple study tracts to ensure you hear the latest market and policy updates along with a host of issues critical to our industry at this time. Stay for Wednesday’s Policy Brunch and hear from TDHCA’s top executives. But when the sessions are over, please enjoy the best Austin has to offer including our famous live music scene and one of the most innovative food scenes in the country. Network. Have fun. Be safe. And go get some deals done!
R4 Capital is a national LIHTC tax credit syndicator founded in 2011. Since then we’ve raised $1.1 billion in equity. We’re here to stay. And we’re growing. This year we launched a tax-exempt debt platform, R4 Capital Funding, offering a Direct Purchase Bond Program to finance affordable housing projects more efficiently. When you’re looking for funding for your next affordable housing development, think R4. New York
70
|
Boston
|
Newport Beach
|
Austin
Texas Affordable Housi ng M agazi ne
Marc D. Schnitzer, President 646 576 7659 | mschnitzer@R4cap.com James Spound, President, R4 Capital Funding 646 844 0935 | jspound@r4cap.com K. Nicole Flores, Executive Vice President 512 575 4751 | nflores@r4cap.com Jay Segel, Executive Vice President 617 502 5946 | jsegel@R4cap.com Ronne Thielen, Executive Vice President 949 438 1050 | rthielen@R4cap.com Paul Connolly, Senior Vice President 646 576 7664 | pconnolly@R4cap.com www.R4cap.com
K. Nicole Flores Chairwoman Texas Housing Conference Texas Affo rd abl e Housing Magazine
71
Mi k e
La nk fo r d
Me m o r ial
g ol f
To u r n a me n t
H U D
w o r k s h o p s
Monday, July 25
9:30 am -10:15 am; 4th Floor Salon 1 Our experienced team of panelists will deliver the “Good News” on recent improvements by HUD to the insured-loan process, time frames under the Single Underwriter Model, revisions to MAP Guide, the reduced MIP for affordable and green housing, and updates on the new Section 8 renewal guide. This will be a great refresher course for those working with HUD or interested in working with them in the future.
Susan Wilson Moderator
Elizabeth Arteaga Panelist
Thomas Goade Panelist
Monica Sussman Panelist
Monday, July 25
HUD’s New and Improved Procedures for FHA - Insured Loans
Marrying Tax Credits and FHA Financing 10:30 am - 12:00 pm; 4th Floor Salon 1
Wolfdancer Golf Club
This session will provide a foundation for developers who have never worked with FHA previously and a programmatic update for long-time borrowers. You have attended sessions on HUD financing before but not with this much information on coming attractions. The panel will look at the union of FHA-insured debt and housing tax credits from the varying perspectives of tax credit consultants, lenders and the FHA. After this session, you will understand FHA’s preferable underwriting terms and the good and bad about FHA-insured debt. You will also learn the key dates in the applications’ timeline and how to minimize the FHA/LIHTC application cycle. FHA has doubled its LIHTC business, hear how and why and what it could mean to you.
The Mike Lankford Memorial Golf Tournament at the Hyatt Regency Lost Pines Resort & Spa Wolfdancer Golf Club 575 Hyatt Lost Pines Road, Lost Pines, TX 78612 512-380-4713 7:30am Registration and Breakfast 8:00am Shotgun Start 19th Hole Reception & Awards will be held during the Policy Brunch on Wednesday, July 27th at the JW Marriott Hotel
Mike Backman Moderator
Tom Bernaciak Panelist
Robbye Meyer Panelist
Jen Quigley Panelist
Jacob Vial Panelist
221(d)(4) Tax Credit Pilot Program 1:00 pm - 2:15 pm; 4th Floor Salon 1
This session will discuss the Department’s commitment to affordable housing through the roll-out of the new FHA 221(d)(4) LIHTC pilot program for new construction and sub-rehab. Panelists will discuss the application process under the single underwriter model, expected time frames and benefits of this new FHA program. Learn how this program and HUD’s commitment to affordable housing can help you.
$225 per player
Benefiting the TAAHP Scholarship Fund Toni Jackson Moderator
72
Texas Affordable Housi ng M agazi ne
Ken Cooper Panelist
Ray Landry Panelist
Richard Price Panelist
Texas Affo rd abl e Housing Magazine
73
Mi k e
La nk fo r d
Me m o r ial
g ol f
To u r n a me n t
H U D
w o r k s h o p s
Monday, July 25
9:30 am -10:15 am; 4th Floor Salon 1 Our experienced team of panelists will deliver the “Good News” on recent improvements by HUD to the insured-loan process, time frames under the Single Underwriter Model, revisions to MAP Guide, the reduced MIP for affordable and green housing, and updates on the new Section 8 renewal guide. This will be a great refresher course for those working with HUD or interested in working with them in the future.
Susan Wilson Moderator
Elizabeth Arteaga Panelist
Thomas Goade Panelist
Monica Sussman Panelist
Monday, July 25
HUD’s New and Improved Procedures for FHA - Insured Loans
Marrying Tax Credits and FHA Financing 10:30 am - 12:00 pm; 4th Floor Salon 1
Wolfdancer Golf Club
This session will provide a foundation for developers who have never worked with FHA previously and a programmatic update for long-time borrowers. You have attended sessions on HUD financing before but not with this much information on coming attractions. The panel will look at the union of FHA-insured debt and housing tax credits from the varying perspectives of tax credit consultants, lenders and the FHA. After this session, you will understand FHA’s preferable underwriting terms and the good and bad about FHA-insured debt. You will also learn the key dates in the applications’ timeline and how to minimize the FHA/LIHTC application cycle. FHA has doubled its LIHTC business, hear how and why and what it could mean to you.
The Mike Lankford Memorial Golf Tournament at the Hyatt Regency Lost Pines Resort & Spa Wolfdancer Golf Club 575 Hyatt Lost Pines Road, Lost Pines, TX 78612 512-380-4713 7:30am Registration and Breakfast 8:00am Shotgun Start 19th Hole Reception & Awards will be held during the Policy Brunch on Wednesday, July 27th at the JW Marriott Hotel
Mike Backman Moderator
Tom Bernaciak Panelist
Robbye Meyer Panelist
Jen Quigley Panelist
Jacob Vial Panelist
221(d)(4) Tax Credit Pilot Program 1:00 pm - 2:15 pm; 4th Floor Salon 1
This session will discuss the Department’s commitment to affordable housing through the roll-out of the new FHA 221(d)(4) LIHTC pilot program for new construction and sub-rehab. Panelists will discuss the application process under the single underwriter model, expected time frames and benefits of this new FHA program. Learn how this program and HUD’s commitment to affordable housing can help you.
$225 per player
Benefiting the TAAHP Scholarship Fund Toni Jackson Moderator
72
Texas Affordable Housi ng M agazi ne
Ken Cooper Panelist
Ray Landry Panelist
Richard Price Panelist
Texas Affo rd abl e Housing Magazine
73
w o r k s h o p s
Ke y n o t e
RAD: The Latest News and Hot Topics 2:30 pm - 3:30 pm; 4th Floor Salon 1
This panel will feature two speakers from HUD, including Tom Davis, head of the Office of Recapitalization which oversees the RAD program. Tom and his fellow panelists will provide an update on the status of the program - closings to date, the status of the pipeline, and efforts to increase the cap on the number of units eligible to participate. They will also discuss some of the hot topics related to the RAD program, such as: What snags are holding up deals from closing? How is implementation of the up-front review of site and neighborhood standards (fair housing review) going? Are any PHAs in danger of losing their CHAPs? Join the conversation.
Lisa Albers Panelist
Thomas Davis Panelist
Spruce Keen Panelist
Deborah VanAmerongen Panelist
A n i n t r o d u c t i o n t o t a x c r ed i t s w o r k s h o p
An Introduction to Housing Tax Credits There is no better place to learn the basics of the Housing Tax Credit Program than with the experienced moderators and panel members at the Texas Housing Conference. Start with the history of the program and the requirements for 9% and 4% developments, then explore the Qualified Allocation Plan (QAP) that governs the awarding of tax credits. Discuss the many requirements that control what type of site will be best from a real estate and a point-scoring perspective. Hear about other considerations when siting a development, especially the importance of finding a community or neighborhood group that supports the development, and obtaining government recommendations. The panel will discuss what investors look for in LIHTC properties and will demonstrate an actual pitch by a developer to an investor. Structuring and pricing LIHTC deals requires a variety of professionals; learn who they are and what they can do for you. You will have a solid foundation on which to build your career in LIHTCs if you start right here.
Chris Akbari Panelist
Mike Celkis Panelist
Ringing the Rag of Significance, the Four Stages of Growth Do you want to experience transformational personal or professional growth? Join Michael Ray Newman as he shares how you can move from survival to significance and find true balance in today’s world. Get insight into how you can design a dream life and impact future generations.
Breakfast Keynote 4th Floor Grand Ballroom 3 7:30 am – 8:30 am Dr. Robert Dietz Chief Economist, National Association of Home Builders (NAHB) Economic and Housing Outlook
10:00 am - 2:00 pm; 4th Floor Salon 1
Diana McIver Moderator
Opening Keynote Speaker 4th Floor Grand Ballroom 5 4:15 pm – 5:00 pm Michael Ray Newman Zig Ziglar International CEO & Executive Coach
Ben Dempsey Panelist
Dr. Dietz will survey current economic conditions with an eye on the housing market. He will discuss why the long-run prospects for building are positive and how supply-side headwinds will limit how fast the construction sector can add housing to the market, altering the types of homes being built.
Tuesday, July 26
Anderson Terri Moderator
S p e a k e r s
Monday, July 25
Monday, July 25
H U D
Luncheon Keynote Speaker 4th Floor Grand Ballroom 5 12:00 pm - 1:30 pm Curt Steinhorst Certified Keynote Speaker and Millennials Researcher for Center for Generational Kinetics Selling Across the Generations: How to Sell to Each Generation of Customer from Millennials to Traditionalists Never before has one generation’s consumer hot buttons been another generation’s instant turn offs. Should you focus on the latest mobile trend or try to win business the old-fashioned way? Knowing how to sell and market to each generation at the same time—and seeing the research to prove it—makes all the difference between fast growth or potentially millions in lost sales.
Dan Kierce Panelist
74
Christine Richardson Panelist
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
75
w o r k s h o p s
Ke y n o t e
RAD: The Latest News and Hot Topics 2:30 pm - 3:30 pm; 4th Floor Salon 1
This panel will feature two speakers from HUD, including Tom Davis, head of the Office of Recapitalization which oversees the RAD program. Tom and his fellow panelists will provide an update on the status of the program - closings to date, the status of the pipeline, and efforts to increase the cap on the number of units eligible to participate. They will also discuss some of the hot topics related to the RAD program, such as: What snags are holding up deals from closing? How is implementation of the up-front review of site and neighborhood standards (fair housing review) going? Are any PHAs in danger of losing their CHAPs? Join the conversation.
Lisa Albers Panelist
Thomas Davis Panelist
Spruce Keen Panelist
Deborah VanAmerongen Panelist
A n i n t r o d u c t i o n t o t a x c r ed i t s w o r k s h o p
An Introduction to Housing Tax Credits There is no better place to learn the basics of the Housing Tax Credit Program than with the experienced moderators and panel members at the Texas Housing Conference. Start with the history of the program and the requirements for 9% and 4% developments, then explore the Qualified Allocation Plan (QAP) that governs the awarding of tax credits. Discuss the many requirements that control what type of site will be best from a real estate and a point-scoring perspective. Hear about other considerations when siting a development, especially the importance of finding a community or neighborhood group that supports the development, and obtaining government recommendations. The panel will discuss what investors look for in LIHTC properties and will demonstrate an actual pitch by a developer to an investor. Structuring and pricing LIHTC deals requires a variety of professionals; learn who they are and what they can do for you. You will have a solid foundation on which to build your career in LIHTCs if you start right here.
Chris Akbari Panelist
Mike Celkis Panelist
Ringing the Rag of Significance, the Four Stages of Growth Do you want to experience transformational personal or professional growth? Join Michael Ray Newman as he shares how you can move from survival to significance and find true balance in today’s world. Get insight into how you can design a dream life and impact future generations.
Breakfast Keynote 4th Floor Grand Ballroom 3 7:30 am – 8:30 am Dr. Robert Dietz Chief Economist, National Association of Home Builders (NAHB) Economic and Housing Outlook
10:00 am - 2:00 pm; 4th Floor Salon 1
Diana McIver Moderator
Opening Keynote Speaker 4th Floor Grand Ballroom 5 4:15 pm – 5:00 pm Michael Ray Newman Zig Ziglar International CEO & Executive Coach
Ben Dempsey Panelist
Dr. Dietz will survey current economic conditions with an eye on the housing market. He will discuss why the long-run prospects for building are positive and how supply-side headwinds will limit how fast the construction sector can add housing to the market, altering the types of homes being built.
Tuesday, July 26
Anderson Terri Moderator
S p e a k e r s
Monday, July 25
Monday, July 25
H U D
Luncheon Keynote Speaker 4th Floor Grand Ballroom 5 12:00 pm - 1:30 pm Curt Steinhorst Certified Keynote Speaker and Millennials Researcher for Center for Generational Kinetics Selling Across the Generations: How to Sell to Each Generation of Customer from Millennials to Traditionalists Never before has one generation’s consumer hot buttons been another generation’s instant turn offs. Should you focus on the latest mobile trend or try to win business the old-fashioned way? Knowing how to sell and market to each generation at the same time—and seeing the research to prove it—makes all the difference between fast growth or potentially millions in lost sales.
Dan Kierce Panelist
74
Christine Richardson Panelist
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
75
Tuesday, July 26
E d u c a t i o n S e ss i o n
Se s s i o n s
Money
7:30 - 8:30 am
8:30 - 9:45 am
Future Markets
Market Rate Multifamily Housing Should I Get Involved?
Beyond LIHTC: Pairing Other Credits to Fund Your Project
Moderator Valerie Williams, Bank of America Merrill Lynch Panelist Rob Hoskins, NuRock Companies Dan Markson, The NRP Group Paul J. Weissman, Hunt Mortgage Group
Moderator Mahesh Aiyer, Citi Community Capital Panelists Brian Jarvis, Bank of America Merrill Lynch Ray Miller, Capital One Bank Ken Overshiner, BBVA Compass David Saling, JP Morgan Chase
Moderator John Shackelford, Shackelford, Bowen, McKinley & Norton, LLP
Moderator JOT Couch, Texas-Interfaith Group Paulette Fischetti, Portfolio Resident Services
Moderator David Mark Koogler, Mark-Dana Corporation
Panelists Ben Dupuy, Enhanced Capital Marshall Phillips, CohnReznick LLP Aniko Rakita, Churchill Stateside Group Lee Winslett, Wells Fargo
Panelists Spencer Duran, TDHCA Diana McIver, DMA Companies Pat Sheridan, Volunteers of America
Panelists Mike Clark, Alpha-Barnes Real Estate Services Inc. Angela King, Volunteers of America Stephanie Naquin, TDHCA Michelle Norris, National Church Residences Blanca Ramirez, Hudson Housing Capital
What’s Old is New - An Inside Look at Historic Preservation Moderator Chris Akbari, ITEX Group, LLC Panelists Ben Glispie, JP Morgan Chase Whitney LaNasa, Stonehenge Capital Company Kelly Longwell, Coats Rose, P.C. Valerie Magolan, Texas Historical Commission
View From the Hill Moderator Bob Moss, CohnReznick LLP Panelists Tony Alfieri, RBC Capital Markets David Gasson, Boston Capital Rick Goldstein, Nixon Peabody Jeff Whiting, CREA
Moderator Tom Dixon, Boston Capital
Panelists Bernard Husser, The Richman Group Affordable Housing Corp. Dan Kierce, RBC Capital Markets Josh Lappen, Hudson Housing Capital Gary Robinson, Raymond James
Panelists Jorge Aguirre, The Michaels Development Company Ron Kowal, Austin Affordable Housing Corp. Jim Shaw, Capital Area Housing Finance Corp. Aron Weisner, Enterprise Community
Panelists Jim Beats, Diamond Property Consultants, Inc. Jen Joyce Brewerton, Dominium Jean Latsha, Pedcor Investments, LLC
Panelists David Danenfelzer, TSAHC Helen Feinberg, RBC Capital Markets Jim Spound, R4 Capital Funding Cody Wilson, Stifel Nicolaus & Company
Texas Affordable Housi ng M agazi ne
Panelists Nick Hoehn, Novogradac & Company LLP Mark Ragsdale, PNC Real Estate Catalina Vielma, National Equity Fund Jeff Weiss, Alden Capital Partners
RECEPTION ON THE EXHIBIT FLOOR
Moderator Michael Gardner, Gardner Capital, Inc. Panelists Garrick Gibson, Tidwell Group Jeff Kunitz, CBRE Affordable Housing Cliff McDaniel, ARA Newmark Affordable Housing
Legislative Changes to the QAP Moderator Janine Sisak, DMA Companies Panelists Bobby Bowling, Tropicana Building Corp. Crystal Ford, Locke Lord, LLP George Littlejohn, Novogradac & Company LLP Neal Rackleff, Locke Lord LLP
It’s All About the 2017 QAP
Fair Housing Choices
Moderator Mike Sugrue, Stoneleaf Companies
Moderator Debra Guerrero, The NRP Group
Panelists Tom Gouris, TDHCA Marni Holloway, TDHCA Janine Sisak, DMA Companies
Panelists Suzanne Hemphill, TDHCA Scott Marks, Coats Rose, P.C. Mark Shelburne, Novogradac & Company LLP Garry Sweeney, HUD
Refreshments ON THE EXHIBIT FLOOR
Refreshments ON THE EXHIBIT FLOOR Moderator Barry Palmer, Coats Rose, P.C.
Getting Out of Dodge: How to Structure Effective Year 15 ROFR Strategies
KEYNOTE Luncheon
Moderator Joy Horak-Brown, New Hope Housing
RAD: The New Frontier
Panelists Bobby Bowling, Tropicana Building Corp. JP Delmore, NAHB Charlie Duncan, Texas Low Income Housing Information Service Bill Longley, Texas Municipal League
Refreshments ON THE EXHIBIT FLOOR
Moderator K. Nicole Flores, R4 Capital LLC
5:00 - 6:30 Pm
76
Moderator Keith Burgess, BBVA Compass
The Never Ending Issues of Cost Controls
Moderator Barry Krinsky, CITI
3:30 - 4:45 Pm
Legislative Letters and NIMBY
Match-Making: Building the Right Partnership for Your Project
Multifamily Bond Financing – “Back in Vogue”
L e g i s l at i v e t r a c k
A Look at Resident Services from Insiders
Getting the Most Out of Your Equity Relationships
3:00 - 3:30 Pm
Em e r g i n g i ss u e s
What’s the 4-1-1 on 811?
KEYNOTE Luncheon
12:00 - 1:30 Pm
Se s s i o n s
KEYNOTE BREAKFAST
Refreshments ON THE EXHIBIT FLOOR Debt-Eight Years Post Downturn
1:45 - 3:00 Pm
Compliance
KEYNOTE BREAKFAST
9:45 - 10:15 am
10:30 - 11:45 am
E d u c a t i o n
The Invisible Details: Revealing Financial Partner Rules & Requirements Moderator Quinn Gormley, CohnReznick LLP Panelists Drew Foster, Redstone Equity Partners LLC Thomas Paramore, Boston Financial Investment Mgmt. Scott Puffer, Gardner Capital
Year 15 - We’re Gonna Need a Bigger Boat
Keeping PACE in Texas
Moderator Chris Thomas, Tidwell Group
Moderator Scott Marks, Coats Rose, P.C.
Panelists Nicole Baldon, Bank of America Merrill Lynch Cynthia Bast, Locke Lord LLP Lloyd Griffin, Berkadia Barry Kahn, Hettig-Kahn Development, Co.
Panelists Jonathon Blackburn, Texas PACE Authority Mansoor Ghori, Petros PACE Finance Charlene Heydinger, Texas PACE Authority Diana McIves, (invited) Laura Sanchez, EDF Climate Corps
RECEPTION ON THE EXHIBIT FLOOR Texas Affo rd abl e Housing Magazine
77
Tuesday, July 26
E d u c a t i o n S e ss i o n
Se s s i o n s
Money
7:30 - 8:30 am
8:30 - 9:45 am
Future Markets
Market Rate Multifamily Housing Should I Get Involved?
Beyond LIHTC: Pairing Other Credits to Fund Your Project
Moderator Valerie Williams, Bank of America Merrill Lynch Panelist Rob Hoskins, NuRock Companies Dan Markson, The NRP Group Paul J. Weissman, Hunt Mortgage Group
Moderator Mahesh Aiyer, Citi Community Capital Panelists Brian Jarvis, Bank of America Merrill Lynch Ray Miller, Capital One Bank Ken Overshiner, BBVA Compass David Saling, JP Morgan Chase
Moderator John Shackelford, Shackelford, Bowen, McKinley & Norton, LLP
Moderator JOT Couch, Texas-Interfaith Group Paulette Fischetti, Portfolio Resident Services
Moderator David Mark Koogler, Mark-Dana Corporation
Panelists Ben Dupuy, Enhanced Capital Marshall Phillips, CohnReznick LLP Aniko Rakita, Churchill Stateside Group Lee Winslett, Wells Fargo
Panelists Spencer Duran, TDHCA Diana McIver, DMA Companies Pat Sheridan, Volunteers of America
Panelists Mike Clark, Alpha-Barnes Real Estate Services Inc. Angela King, Volunteers of America Stephanie Naquin, TDHCA Michelle Norris, National Church Residences Blanca Ramirez, Hudson Housing Capital
What’s Old is New - An Inside Look at Historic Preservation Moderator Chris Akbari, ITEX Group, LLC Panelists Ben Glispie, JP Morgan Chase Whitney LaNasa, Stonehenge Capital Company Kelly Longwell, Coats Rose, P.C. Valerie Magolan, Texas Historical Commission
View From the Hill Moderator Bob Moss, CohnReznick LLP Panelists Tony Alfieri, RBC Capital Markets David Gasson, Boston Capital Rick Goldstein, Nixon Peabody Jeff Whiting, CREA
Moderator Tom Dixon, Boston Capital
Panelists Bernard Husser, The Richman Group Affordable Housing Corp. Dan Kierce, RBC Capital Markets Josh Lappen, Hudson Housing Capital Gary Robinson, Raymond James
Panelists Jorge Aguirre, The Michaels Development Company Ron Kowal, Austin Affordable Housing Corp. Jim Shaw, Capital Area Housing Finance Corp. Aron Weisner, Enterprise Community
Panelists Jim Beats, Diamond Property Consultants, Inc. Jen Joyce Brewerton, Dominium Jean Latsha, Pedcor Investments, LLC
Panelists David Danenfelzer, TSAHC Helen Feinberg, RBC Capital Markets Jim Spound, R4 Capital Funding Cody Wilson, Stifel Nicolaus & Company
Texas Affordable Housi ng M agazi ne
Panelists Nick Hoehn, Novogradac & Company LLP Mark Ragsdale, PNC Real Estate Catalina Vielma, National Equity Fund Jeff Weiss, Alden Capital Partners
RECEPTION ON THE EXHIBIT FLOOR
Moderator Michael Gardner, Gardner Capital, Inc. Panelists Garrick Gibson, Tidwell Group Jeff Kunitz, CBRE Affordable Housing Cliff McDaniel, ARA Newmark Affordable Housing
Legislative Changes to the QAP Moderator Janine Sisak, DMA Companies Panelists Bobby Bowling, Tropicana Building Corp. Crystal Ford, Locke Lord, LLP George Littlejohn, Novogradac & Company LLP Neal Rackleff, Locke Lord LLP
It’s All About the 2017 QAP
Fair Housing Choices
Moderator Mike Sugrue, Stoneleaf Companies
Moderator Debra Guerrero, The NRP Group
Panelists Tom Gouris, TDHCA Marni Holloway, TDHCA Janine Sisak, DMA Companies
Panelists Suzanne Hemphill, TDHCA Scott Marks, Coats Rose, P.C. Mark Shelburne, Novogradac & Company LLP Garry Sweeney, HUD
Refreshments ON THE EXHIBIT FLOOR
Refreshments ON THE EXHIBIT FLOOR Moderator Barry Palmer, Coats Rose, P.C.
Getting Out of Dodge: How to Structure Effective Year 15 ROFR Strategies
KEYNOTE Luncheon
Moderator Joy Horak-Brown, New Hope Housing
RAD: The New Frontier
Panelists Bobby Bowling, Tropicana Building Corp. JP Delmore, NAHB Charlie Duncan, Texas Low Income Housing Information Service Bill Longley, Texas Municipal League
Refreshments ON THE EXHIBIT FLOOR
Moderator K. Nicole Flores, R4 Capital LLC
5:00 - 6:30 Pm
76
Moderator Keith Burgess, BBVA Compass
The Never Ending Issues of Cost Controls
Moderator Barry Krinsky, CITI
3:30 - 4:45 Pm
Legislative Letters and NIMBY
Match-Making: Building the Right Partnership for Your Project
Multifamily Bond Financing – “Back in Vogue”
L e g i s l at i v e t r a c k
A Look at Resident Services from Insiders
Getting the Most Out of Your Equity Relationships
3:00 - 3:30 Pm
Em e r g i n g i ss u e s
What’s the 4-1-1 on 811?
KEYNOTE Luncheon
12:00 - 1:30 Pm
Se s s i o n s
KEYNOTE BREAKFAST
Refreshments ON THE EXHIBIT FLOOR Debt-Eight Years Post Downturn
1:45 - 3:00 Pm
Compliance
KEYNOTE BREAKFAST
9:45 - 10:15 am
10:30 - 11:45 am
E d u c a t i o n
The Invisible Details: Revealing Financial Partner Rules & Requirements Moderator Quinn Gormley, CohnReznick LLP Panelists Drew Foster, Redstone Equity Partners LLC Thomas Paramore, Boston Financial Investment Mgmt. Scott Puffer, Gardner Capital
Year 15 - We’re Gonna Need a Bigger Boat
Keeping PACE in Texas
Moderator Chris Thomas, Tidwell Group
Moderator Scott Marks, Coats Rose, P.C.
Panelists Nicole Baldon, Bank of America Merrill Lynch Cynthia Bast, Locke Lord LLP Lloyd Griffin, Berkadia Barry Kahn, Hettig-Kahn Development, Co.
Panelists Jonathon Blackburn, Texas PACE Authority Mansoor Ghori, Petros PACE Finance Charlene Heydinger, Texas PACE Authority Diana McIves, (invited) Laura Sanchez, EDF Climate Corps
RECEPTION ON THE EXHIBIT FLOOR Texas Affo rd abl e Housing Magazine
77
Se s s io n s
-
Mo n ey
E d u catio n
Se s s io n s
-
Mo n ey
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Market Rate MF Housing Should I Get Involved?
Debt – Eight Years Post Downturn
Getting the Most Out of Your Equity Relationships
Multifamily Bond Financing – “Back in Vogue”
Critical to the overall health of any community is an economically diverse residential housing base. New housing units are needed as population growth and demographic shifts occur. It only stands to reason that we need our housing stock to evolve as well. Many housing developers are seeing significant benefit to having diversity within their real estate portfolio. Should you be exploring options such as completely re-developing an existing product that is transitioning out of the tax credit program? Or, should you consider building a new market rate housing development? What are the considerations and challenges for you if you are looking to diversify? Key elements in this session will include debt financing, equity sources, and developing market or sub-market intelligence so that you can better evaluate opportunities. Presentations will include case studies of newly constructed market rate developments.
This discussion will feature several affordable housing lending experts located throughout the state of Texas providing insight on credit terms and market conditions. Panelists will discuss the latest trends and financing options within the affordable housing industry. There will be a wide array of current discussion topics including exit year debt options, underwriting mixed income rate and workforce developments and underwriting smaller communities. Panelists will review solutions to current financing obstacles including interest rate risk and the financial impact of rising construction costs.
A current and frank discussion about recent changes in the syndication and investor marketplace including a brief overview of market pricing and terms. The panelists will further explore nuances of the existing climate for equity marked by historic high pricing and some initial erosion of core business terms amidst Y15 fears while asking the important question, “does it matter who my equity partner is going forward?
8:30 - 9:45 am; 4th Floor, Grand Salon 1
10:30 - 11:45 am; 4th Floor, Grand Salon 1
1:45 - 3:00 pm; 4th Floor, Grand Salon 1
3:30 - 4:45 pm; 4th Floor, Grand Salon 1
After years of limited use, tax-exempt bond financing is being used more regularly to finance affordable rental housing. In this session you will learn how tax-exempt financing is being used and who is using it. Our experts will discuss the types and locations of properties being financed with taxexempt bonds and the active lenders participating. The LIHTC environment and its effect on 4% bonds will also be discussed along with public/private partnerships and incentives. Participants will walk away with a good overview of how this important resource is being used and of the most common and efficient financing structures.
Moderator Mahesh Aiyer, Citi Community Capital
Moderator K. Nicole Flores, R4 Capital LLC
Moderator Barry Krinsky, CITI
Panelists Brian Jarvis, Bank of America Merrill Lynch Ray Miller, Capital One Bank Ken Overshiner, BBVA Compass David Saling, JP Morgan Chase
Panelists Bernard Husser, The Richman Group Affordable Housing Corp. Dan Kierce, RBC Capital Markets Josh Lappen, Hudson Housing Capital Gary Robinson, Raymond James
Panelists David Danenfelzer, TSAHC Helen Feinberg, RBC Capital Markets Jim Spound, R4 Capital Funding Cody Wilson, Stifel Nicolaus & Company
Tuesday, July 26
Tuesday, July 26
E d u catio n
Moderator Valerie Williams, Bank of America Merrill Lynch Panelist Rob Hoskins, NuRock Companies Dan Markson, The NRP Group Paul J. Weissman, Hunt Mortgage Group
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Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
79
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Mo n ey
E d u catio n
Se s s io n s
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Mo n ey
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Market Rate MF Housing Should I Get Involved?
Debt – Eight Years Post Downturn
Getting the Most Out of Your Equity Relationships
Multifamily Bond Financing – “Back in Vogue”
Critical to the overall health of any community is an economically diverse residential housing base. New housing units are needed as population growth and demographic shifts occur. It only stands to reason that we need our housing stock to evolve as well. Many housing developers are seeing significant benefit to having diversity within their real estate portfolio. Should you be exploring options such as completely re-developing an existing product that is transitioning out of the tax credit program? Or, should you consider building a new market rate housing development? What are the considerations and challenges for you if you are looking to diversify? Key elements in this session will include debt financing, equity sources, and developing market or sub-market intelligence so that you can better evaluate opportunities. Presentations will include case studies of newly constructed market rate developments.
This discussion will feature several affordable housing lending experts located throughout the state of Texas providing insight on credit terms and market conditions. Panelists will discuss the latest trends and financing options within the affordable housing industry. There will be a wide array of current discussion topics including exit year debt options, underwriting mixed income rate and workforce developments and underwriting smaller communities. Panelists will review solutions to current financing obstacles including interest rate risk and the financial impact of rising construction costs.
A current and frank discussion about recent changes in the syndication and investor marketplace including a brief overview of market pricing and terms. The panelists will further explore nuances of the existing climate for equity marked by historic high pricing and some initial erosion of core business terms amidst Y15 fears while asking the important question, “does it matter who my equity partner is going forward?
8:30 - 9:45 am; 4th Floor, Grand Salon 1
10:30 - 11:45 am; 4th Floor, Grand Salon 1
1:45 - 3:00 pm; 4th Floor, Grand Salon 1
3:30 - 4:45 pm; 4th Floor, Grand Salon 1
After years of limited use, tax-exempt bond financing is being used more regularly to finance affordable rental housing. In this session you will learn how tax-exempt financing is being used and who is using it. Our experts will discuss the types and locations of properties being financed with taxexempt bonds and the active lenders participating. The LIHTC environment and its effect on 4% bonds will also be discussed along with public/private partnerships and incentives. Participants will walk away with a good overview of how this important resource is being used and of the most common and efficient financing structures.
Moderator Mahesh Aiyer, Citi Community Capital
Moderator K. Nicole Flores, R4 Capital LLC
Moderator Barry Krinsky, CITI
Panelists Brian Jarvis, Bank of America Merrill Lynch Ray Miller, Capital One Bank Ken Overshiner, BBVA Compass David Saling, JP Morgan Chase
Panelists Bernard Husser, The Richman Group Affordable Housing Corp. Dan Kierce, RBC Capital Markets Josh Lappen, Hudson Housing Capital Gary Robinson, Raymond James
Panelists David Danenfelzer, TSAHC Helen Feinberg, RBC Capital Markets Jim Spound, R4 Capital Funding Cody Wilson, Stifel Nicolaus & Company
Tuesday, July 26
Tuesday, July 26
E d u catio n
Moderator Valerie Williams, Bank of America Merrill Lynch Panelist Rob Hoskins, NuRock Companies Dan Markson, The NRP Group Paul J. Weissman, Hunt Mortgage Group
78
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
79
80
m a r k et s
F u t u r e
m a r k et s
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Beyond LIHTC: Pairing Other Credits to Fund Your Project
What’s Old is New - An Inside Look at Historic Preservation
Match-making: Building the Right Partnership for your Project
RAD: The New Frontier
This panel explores the makings of a good partnership from the perspectives of the for-profit developer, the non-profit, and the investor. All of the parties have specific needs and requirements and the experts on the panel will discuss how to meet these needs while structuring a partnership that all parties can live with. Discussion will focus on tax exemptions, risk and reward allocation, specific structure requirements, ongoing partnership responsibilities, and investor considerations. The panel will also address specific pitfalls to avoid.
This RAD panel will provide an update on RAD transactions closed to date and lessons learned over the past year. They will discuss the challenges faced by housing authorities and developers in converting transactions to the RAD program. The panel will also focus on opportunities to combine RAD with Low Income Housing Tax Credits, key tax credit issues such as the related party rule and structuring the transaction to achieve the desired economics while qualifying for acquisitions tax credit. Investor and lender representatives will discuss key RAD underwriting issues.
8:30 - 9:45 am; 4th Floor, Grand Salon 2
This session will educate LIHTC developers about other types of tax credits, state and federal, that may be available to fund their next LIHTC project. The session will also help identify the types of projects best suited for pairing and what challenges may arise when using other tax credit types.
10:30 - 11:45 am; 4th Floor, Grand Salon 2
This panel will discuss various aspects of New Markets and Historic Tax Credit transactions including legal and practical aspects of these programs. The panelists will navigate through a real transaction and the various layers involved to get the deal closed. From identifying and structuring the transaction to completing the capital stack, our panel members will use an interactive approach as the deal blueprint is unveiled.
1:45 - 3:00 pm; 4th Floor, Grand Salon 2
3:30 - 4:45 pm; 4th Floor, Grand Salon 2
Moderator Keith Burgess, BBVA Compass
Moderator Chris Akbari, ITEX Group, LLC
Moderator Joy Horak-Brown, New Hope Housing
Moderator Barry Palmer, Coats Rose, P.C.
Panelists Ben Dupuy, Enhanced Capital Marshall Phillips, CohnReznick LLP Aniko Rakita, Churchill Stateside Group Lee Winslett, Wells Fargo
Panelists Ben Glispie, JP Morgan Chase Whitney LaNasa, Stonehenge Capital Company Kelly Longwell, Coats Rose, P.C. Valerie Magolan, Texas Historical Commission
Panelists Jorge Aguirre, The Michaels Development Company Ron Kowal, Austin Affordable Housing Corp. Jim Shaw, Capital Area Housing Finance Corp. Aron Weisner, Enterprise Community
Panelists Nick Hoehn, Novogradac & Company LLP Mark Ragsdale, PNC Real Estate Catalina Vielma, National Equity Fund Jeff Weiss, Alden Capital Partners
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
Tuesday, July 26
Tuesday, July 26
F u t u r e
81
80
m a r k et s
F u t u r e
m a r k et s
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Beyond LIHTC: Pairing Other Credits to Fund Your Project
What’s Old is New - An Inside Look at Historic Preservation
Match-making: Building the Right Partnership for your Project
RAD: The New Frontier
This panel explores the makings of a good partnership from the perspectives of the for-profit developer, the non-profit, and the investor. All of the parties have specific needs and requirements and the experts on the panel will discuss how to meet these needs while structuring a partnership that all parties can live with. Discussion will focus on tax exemptions, risk and reward allocation, specific structure requirements, ongoing partnership responsibilities, and investor considerations. The panel will also address specific pitfalls to avoid.
This RAD panel will provide an update on RAD transactions closed to date and lessons learned over the past year. They will discuss the challenges faced by housing authorities and developers in converting transactions to the RAD program. The panel will also focus on opportunities to combine RAD with Low Income Housing Tax Credits, key tax credit issues such as the related party rule and structuring the transaction to achieve the desired economics while qualifying for acquisitions tax credit. Investor and lender representatives will discuss key RAD underwriting issues.
8:30 - 9:45 am; 4th Floor, Grand Salon 2
This session will educate LIHTC developers about other types of tax credits, state and federal, that may be available to fund their next LIHTC project. The session will also help identify the types of projects best suited for pairing and what challenges may arise when using other tax credit types.
10:30 - 11:45 am; 4th Floor, Grand Salon 2
This panel will discuss various aspects of New Markets and Historic Tax Credit transactions including legal and practical aspects of these programs. The panelists will navigate through a real transaction and the various layers involved to get the deal closed. From identifying and structuring the transaction to completing the capital stack, our panel members will use an interactive approach as the deal blueprint is unveiled.
1:45 - 3:00 pm; 4th Floor, Grand Salon 2
3:30 - 4:45 pm; 4th Floor, Grand Salon 2
Moderator Keith Burgess, BBVA Compass
Moderator Chris Akbari, ITEX Group, LLC
Moderator Joy Horak-Brown, New Hope Housing
Moderator Barry Palmer, Coats Rose, P.C.
Panelists Ben Dupuy, Enhanced Capital Marshall Phillips, CohnReznick LLP Aniko Rakita, Churchill Stateside Group Lee Winslett, Wells Fargo
Panelists Ben Glispie, JP Morgan Chase Whitney LaNasa, Stonehenge Capital Company Kelly Longwell, Coats Rose, P.C. Valerie Magolan, Texas Historical Commission
Panelists Jorge Aguirre, The Michaels Development Company Ron Kowal, Austin Affordable Housing Corp. Jim Shaw, Capital Area Housing Finance Corp. Aron Weisner, Enterprise Community
Panelists Nick Hoehn, Novogradac & Company LLP Mark Ragsdale, PNC Real Estate Catalina Vielma, National Equity Fund Jeff Weiss, Alden Capital Partners
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
Tuesday, July 26
Tuesday, July 26
F u t u r e
81
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
What’s the 4-1-1 on 811?
View from the Hill
a valuable session if you selected points to participate in the section 811 Pra Program in a recent liHTC application and committed to this program. Participants will gain knowledge of the programits beginnings and its future. Hear from Texas and national developers experienced in operating section 811 and TdHCa’s program Manager.
What the heck is happening in dC? forget the election year. Come find out what developers can expect for funding from Congress in 2017. Hear what opportunities will be expanded or changed under the new Congress and what the inside baseball is from our Capitol Hill advocates. The panel will discuss the elements of tax reform, current legislation, and what our challenges will be in the context of the Housing Tax Credit and appropriated programs.
The never-ending Issue of Cost Control—A Primer
The Invisible Details: revealing financial Partner rules & requirements
Moderator John shackelford, shackelford, Bowen, mckinley & norton, llp
Moderator Bob moss, cohnreznick llp
Moderator tom Dixon, Boston capital
Moderator Quinn Gormley, cohnreznick llp
panelists Tony Alfieri, RBC Capital Markets David Gasson, Boston capital rick Goldstein, nixon peabody Jeff whiting, crEa
panelists Jim Beats, Diamond property consultants, inc. Jen Joyce Brewerton, Dominium Jean latsha, pedcor investments, llc
panelists Drew Foster, redstone Equity partners llc thomas paramore, Boston Financial investment mgmt. scott puffer, Gardner capital
8:30 - 9:45 am; 4th floor, grand salon 3
panelists spencer Duran, tDHca Diana mciver, Dma companies pat sheridan, volunteers of america
82
C O m P L I A n C E
Texas affordable Housi ng M agazi ne
10:30 - 11:45 am; 4th floor, grand salon 3
1:45 - 3:00 pm; 4th floor, grand salon 3
Join this session for a primer on cost control: where has it come from and why, is now the best it will get, what do irs, Hud and TdHCa plan for the future? experienced and expert panel members will help you navigate the complex rules you encounter, from pre-development planning through long term asset management. after exploring what constitutes costs to the developer versus to the regulator, the panelists will discuss overall operating costs and place special emphasis on utility costs and allowances.
3:30 - 4:45 pm; 4th floor, grand salon 3
Taking the risk of applying and developing a liHTC property is challenging. equally, managing the risk of liHTC investment and debt facilities requires expertise in negotiating agreements, oversight of development and operations, ensuring compliance and navigating year 15 dispositions. Come hear from the experts on various deal terms, requirements, and interpretations that may be revealed up-front or determined during the life-cycle of your deal.
Texas affo rd abl e Housing Magazine
Tuesday, July 26
Tuesday, July 26
C O m P L I A n C E
83
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
What’s the 4-1-1 on 811?
View from the Hill
a valuable session if you selected points to participate in the section 811 Pra Program in a recent liHTC application and committed to this program. Participants will gain knowledge of the programits beginnings and its future. Hear from Texas and national developers experienced in operating section 811 and TdHCa’s program Manager.
What the heck is happening in dC? forget the election year. Come find out what developers can expect for funding from Congress in 2017. Hear what opportunities will be expanded or changed under the new Congress and what the inside baseball is from our Capitol Hill advocates. The panel will discuss the elements of tax reform, current legislation, and what our challenges will be in the context of the Housing Tax Credit and appropriated programs.
The never-ending Issue of Cost Control—A Primer
The Invisible Details: revealing financial Partner rules & requirements
Moderator John shackelford, shackelford, Bowen, mckinley & norton, llp
Moderator Bob moss, cohnreznick llp
Moderator tom Dixon, Boston capital
Moderator Quinn Gormley, cohnreznick llp
panelists Tony Alfieri, RBC Capital Markets David Gasson, Boston capital rick Goldstein, nixon peabody Jeff whiting, crEa
panelists Jim Beats, Diamond property consultants, inc. Jen Joyce Brewerton, Dominium Jean latsha, pedcor investments, llc
panelists Drew Foster, redstone Equity partners llc thomas paramore, Boston Financial investment mgmt. scott puffer, Gardner capital
8:30 - 9:45 am; 4th floor, grand salon 3
panelists spencer Duran, tDHca Diana mciver, Dma companies pat sheridan, volunteers of america
82
C O m P L I A n C E
Texas affordable Housi ng M agazi ne
10:30 - 11:45 am; 4th floor, grand salon 3
1:45 - 3:00 pm; 4th floor, grand salon 3
Join this session for a primer on cost control: where has it come from and why, is now the best it will get, what do irs, Hud and TdHCa plan for the future? experienced and expert panel members will help you navigate the complex rules you encounter, from pre-development planning through long term asset management. after exploring what constitutes costs to the developer versus to the regulator, the panelists will discuss overall operating costs and place special emphasis on utility costs and allowances.
3:30 - 4:45 pm; 4th floor, grand salon 3
Taking the risk of applying and developing a liHTC property is challenging. equally, managing the risk of liHTC investment and debt facilities requires expertise in negotiating agreements, oversight of development and operations, ensuring compliance and navigating year 15 dispositions. Come hear from the experts on various deal terms, requirements, and interpretations that may be revealed up-front or determined during the life-cycle of your deal.
Texas affo rd abl e Housing Magazine
Tuesday, July 26
Tuesday, July 26
C O m P L I A n C E
83
Tuesday, July 26, 2016
8:30 - 9:45 am; 4th Floor, Grand Salon 4
A Look at Resident Services from Insiders Understand the strategy for successful services. A new format for the session will provide a dynamic environment as experienced insiders share perspectives on their own roles and question other panel members about their roles in providing supportive and resident services. A successful resident services plan requires a diverse cast of characters with individual roles but a shared goal. Understanding each role and how they blend together is one key to being effective. Panelists will also provide views on a new federal initiative on wellness and on aging in place. TDHCA is interested in aging in place programs, but how would it fit in the QAP? Find out what else is on the horizon with this experienced panel. Moderators JOT Couch, Texas-Interfaith Group Paulette Fischetti, Portfolio Resident Services Panelists Mike Clark, Alpha-Barnes Real Estate Services Inc. Angela King, Volunteers of America Stephanie Naquin, TDHCA Michelle Norris, National Church Residences Blanca Ramirez, Hudson Housing Capital
84
Texas Affordable Housi ng M agazi ne
I s s u e s
Tuesday, July 26, 2016 10:30 - 11:45 am; 4th Floor,
Grand Salon 4
Getting out of Dodge: How to Structure Effective Year 15 ROFR Strategies Early planning is key to transitioning a LIHTC housing property after Year 15. Planning should include reevaluating all aspects of the property, including market conditions, physical and financial condition of the property, and the interests of key stakeholders. Industry professionals from development, finance, and legal discuss how best to develop a timely strategy for the successful sale or refinancing of your project.
Moderator Michael Gardner, Gardner Capital, Inc. Panelists Garrick Gibson, Tidwell Group Jeff Kunitz, CBRE Affordable Housing Cliff McDaniel, ARA Newmark Affordable Housing
E m e r g i n g
I s s u e s
Tuesday, July 26, 2016
Tuesday, July 26, 2016
It’s All About the 2017 QAP
Year 15 - We’re Gonna Need a Bigger Boat
1:45 - 3:00 pm; 4th Floor, Grand Salon 4
How can you keep up with the continually evolving QAP in Texas? One way is to participate in this session by experienced developers who have been engaged and enraged by the changing QAP. Gain better knowledge of the QAP and TDHCA’s goals. Find out what the QAP means to a complete application. Become more competitive when filling out an LIHTC application when you know it’s not just about the score. TDHCA has held several roundtable discussions soliciting stakeholders’ views on changes that need to be made to the QAP rule for 2017. Catch up on what has been accomplished and what issues remain. Will the 2018 QAP remain the same or very similar to the 2017 QAP? Maybe this panel will have the answer . . . at the 2017 Texas Housing Conference. Moderator Mike Sugrue, Stoneleaf Companies Panelists Tom Gouris, TDHCA Marni Holloway, TDHCA Janine Sisak, DMA Companies
3:30 - 4:45 pm; 4th Floor, Grand Salon 4
Join our expert panel in exploring what your options are at Year 15. They will share issues you should watch for in choosing a hold or a sell strategy. Learn about how the new ROFR rules affect your decision. Discuss the content of partnership agreements. Review current market opportunities. Look inside a deal from the limited partner’s perspective.
Tuesday, July 26
Tuesday, July 26
E m e r g i n g
Moderator Chris Thomas, Tidwell Group Panelists Nicole Baldon, Bank of America Merrill Lynch Cynthia Bast, Locke Lord LLP Lloyd Griffin, Berkadia Barry Kahn, Hettig-Kahn Development, Co.
Texas Affo rd abl e Housing Magazine
85
Tuesday, July 26, 2016
8:30 - 9:45 am; 4th Floor, Grand Salon 4
A Look at Resident Services from Insiders Understand the strategy for successful services. A new format for the session will provide a dynamic environment as experienced insiders share perspectives on their own roles and question other panel members about their roles in providing supportive and resident services. A successful resident services plan requires a diverse cast of characters with individual roles but a shared goal. Understanding each role and how they blend together is one key to being effective. Panelists will also provide views on a new federal initiative on wellness and on aging in place. TDHCA is interested in aging in place programs, but how would it fit in the QAP? Find out what else is on the horizon with this experienced panel. Moderators JOT Couch, Texas-Interfaith Group Paulette Fischetti, Portfolio Resident Services Panelists Mike Clark, Alpha-Barnes Real Estate Services Inc. Angela King, Volunteers of America Stephanie Naquin, TDHCA Michelle Norris, National Church Residences Blanca Ramirez, Hudson Housing Capital
84
Texas Affordable Housi ng M agazi ne
I s s u e s
Tuesday, July 26, 2016 10:30 - 11:45 am; 4th Floor,
Grand Salon 4
Getting out of Dodge: How to Structure Effective Year 15 ROFR Strategies Early planning is key to transitioning a LIHTC housing property after Year 15. Planning should include reevaluating all aspects of the property, including market conditions, physical and financial condition of the property, and the interests of key stakeholders. Industry professionals from development, finance, and legal discuss how best to develop a timely strategy for the successful sale or refinancing of your project.
Moderator Michael Gardner, Gardner Capital, Inc. Panelists Garrick Gibson, Tidwell Group Jeff Kunitz, CBRE Affordable Housing Cliff McDaniel, ARA Newmark Affordable Housing
E m e r g i n g
I s s u e s
Tuesday, July 26, 2016
Tuesday, July 26, 2016
It’s All About the 2017 QAP
Year 15 - We’re Gonna Need a Bigger Boat
1:45 - 3:00 pm; 4th Floor, Grand Salon 4
How can you keep up with the continually evolving QAP in Texas? One way is to participate in this session by experienced developers who have been engaged and enraged by the changing QAP. Gain better knowledge of the QAP and TDHCA’s goals. Find out what the QAP means to a complete application. Become more competitive when filling out an LIHTC application when you know it’s not just about the score. TDHCA has held several roundtable discussions soliciting stakeholders’ views on changes that need to be made to the QAP rule for 2017. Catch up on what has been accomplished and what issues remain. Will the 2018 QAP remain the same or very similar to the 2017 QAP? Maybe this panel will have the answer . . . at the 2017 Texas Housing Conference. Moderator Mike Sugrue, Stoneleaf Companies Panelists Tom Gouris, TDHCA Marni Holloway, TDHCA Janine Sisak, DMA Companies
3:30 - 4:45 pm; 4th Floor, Grand Salon 4
Join our expert panel in exploring what your options are at Year 15. They will share issues you should watch for in choosing a hold or a sell strategy. Learn about how the new ROFR rules affect your decision. Discuss the content of partnership agreements. Review current market opportunities. Look inside a deal from the limited partner’s perspective.
Tuesday, July 26
Tuesday, July 26
E m e r g i n g
Moderator Chris Thomas, Tidwell Group Panelists Nicole Baldon, Bank of America Merrill Lynch Cynthia Bast, Locke Lord LLP Lloyd Griffin, Berkadia Barry Kahn, Hettig-Kahn Development, Co.
Texas Affo rd abl e Housing Magazine
85
T r A C k
L E g I s L A T I V E
T r A C k
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Legislative Changes to the QAP
Legislative Letters and nIMbY
fair Housing Choices
Keeping PACe in Texas
every year, TdHCa promulgates a new QaP rule to determine which development applications will be funded. every other year, members of the affordable housing fraternity trek to the Capitol as surely as bats come out from under the Congress avenue bridge to ask legislators to change the carefully crafted QaP. Why is this trip necessary? Texas has the most legislatively directed QaP process in the country. everyone with a development in mind has an idea for improving the QaP. is this a best practice? Hear what unravels when you pull a string on the QaP.
in Texas, we are generally happy to do things the Texas way. in fact, Texas legislators have a privilege most of their colleagues in other states do not: they are able to make or break applications for liHTC developments. The Texas QaP is required to award or take away scoring points based on the opinion of a legislator as expressed in a letter to the TdHCa board. This privilege is reserved for members of the Texas House of representatives, as senators voluntarily gave up the privilege in 2013. How do legislators form their opinions of proposed liHTC developments? are their decisions based on the proposal in question or on a general feeling about affordable housing? affirmatively furthering fair Housing requirements will make future decisions more complex. City’s responses to liHTC applications range from enthusiastic to unwelcoming. Their official comments can make or break an application for an liHTC development, also. learn how to cut to the chase when seeking city support for your development.
fair Housing is even more of a “hot button” issue because of last year’s sCoTus decision regarding disparate impact and Hud’s affirmatively furthering fair Housing rule. experts will share the impact of these recent considerations on the policies that govern the production and choices of affordable housing for Texas families.
Would you like to boost your roi by investing in energy and water conservation initiatives? Would you like to pay for that investment from the conservation savings and not from a cash outlay or loan? find out how to save utility costs for your development and for your residents. This panel is composed of industry innovators sharing environmental green and an economic green. Participants will learn how the PaCe program has been established and fine-tuned in Texas and how affordable housing developments can benefit from it. Hear where and how deals have been put together in Texas. discuss the roadblocks that have been dealt with and those that remain.
8:30 - 9:45 am; 4th floor, rooms 402-403
Moderator David mark koogler, mark-Dana corporation panelists Bobby Bowling, tropicana Building corp. Jp Delmore, naHB charlie Duncan, texas low income Housing information service Bill longley, texas municipal league
10:30 - 11:45 am; 4th floor, rooms 402-403
Moderator Janine sisak, Dma companies
1:45 - 3:00 pm; 4th floor, rooms 402-403
Moderator Debra Guerrero, the nrp Group panelists suzanne Hemphill, tDHca scott marks, coats rose, p.c. mark shelburne, novogradac & company llp Garry sweeney, HuD
3:30 - 4:45 pm; 4th floor, rooms 402-403
Tuesday, July 26
Tuesday, July 26
L E g I s L A T I V E
Moderator scott marks, coats rose, p.c. panelists Jonathon Blackburn, texas pacE authority mansoor Ghori, petros pacE Finance charlene Heydinger, texas pacE authority Diana mciver, Dma companies laura sanchez, EDF climate corps
panelists Bobby Bowling, tropicana Building corp. crystal Ford, locke lord, llp George littlejohn, novogradac & company llp neal rackleff, locke lord llp
86
Texas affordable Housi ng M agazi ne
Texas affo rd abl e Housing Magazine
87
T r A C k
L E g I s L A T I V E
T r A C k
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Tuesday, July 26, 2016
Legislative Changes to the QAP
Legislative Letters and nIMbY
fair Housing Choices
Keeping PACe in Texas
every year, TdHCa promulgates a new QaP rule to determine which development applications will be funded. every other year, members of the affordable housing fraternity trek to the Capitol as surely as bats come out from under the Congress avenue bridge to ask legislators to change the carefully crafted QaP. Why is this trip necessary? Texas has the most legislatively directed QaP process in the country. everyone with a development in mind has an idea for improving the QaP. is this a best practice? Hear what unravels when you pull a string on the QaP.
in Texas, we are generally happy to do things the Texas way. in fact, Texas legislators have a privilege most of their colleagues in other states do not: they are able to make or break applications for liHTC developments. The Texas QaP is required to award or take away scoring points based on the opinion of a legislator as expressed in a letter to the TdHCa board. This privilege is reserved for members of the Texas House of representatives, as senators voluntarily gave up the privilege in 2013. How do legislators form their opinions of proposed liHTC developments? are their decisions based on the proposal in question or on a general feeling about affordable housing? affirmatively furthering fair Housing requirements will make future decisions more complex. City’s responses to liHTC applications range from enthusiastic to unwelcoming. Their official comments can make or break an application for an liHTC development, also. learn how to cut to the chase when seeking city support for your development.
fair Housing is even more of a “hot button” issue because of last year’s sCoTus decision regarding disparate impact and Hud’s affirmatively furthering fair Housing rule. experts will share the impact of these recent considerations on the policies that govern the production and choices of affordable housing for Texas families.
Would you like to boost your roi by investing in energy and water conservation initiatives? Would you like to pay for that investment from the conservation savings and not from a cash outlay or loan? find out how to save utility costs for your development and for your residents. This panel is composed of industry innovators sharing environmental green and an economic green. Participants will learn how the PaCe program has been established and fine-tuned in Texas and how affordable housing developments can benefit from it. Hear where and how deals have been put together in Texas. discuss the roadblocks that have been dealt with and those that remain.
8:30 - 9:45 am; 4th floor, rooms 402-403
Moderator David mark koogler, mark-Dana corporation panelists Bobby Bowling, tropicana Building corp. Jp Delmore, naHB charlie Duncan, texas low income Housing information service Bill longley, texas municipal league
10:30 - 11:45 am; 4th floor, rooms 402-403
Moderator Janine sisak, Dma companies
1:45 - 3:00 pm; 4th floor, rooms 402-403
Moderator Debra Guerrero, the nrp Group panelists suzanne Hemphill, tDHca scott marks, coats rose, p.c. mark shelburne, novogradac & company llp Garry sweeney, HuD
3:30 - 4:45 pm; 4th floor, rooms 402-403
Tuesday, July 26
Tuesday, July 26
L E g I s L A T I V E
Moderator scott marks, coats rose, p.c. panelists Jonathon Blackburn, texas pacE authority mansoor Ghori, petros pacE Finance charlene Heydinger, texas pacE authority Diana mciver, Dma companies laura sanchez, EDF climate corps
panelists Bobby Bowling, tropicana Building corp. crystal Ford, locke lord, llp George littlejohn, novogradac & company llp neal rackleff, locke lord llp
86
Texas affordable Housi ng M agazi ne
Texas affo rd abl e Housing Magazine
87
9:00 - 10:00 Am 4th Floor, Grand salon 5
10:00 - 11:00 Am 4th Floor, Grand salon 5
11:00 Am - 12:00 Pm 4th Floor, Grand salon 5
88
B r u n C H
What our Friends are Saying naHB chairman-elect granger MacDonald will moderate this panel of friends of taaHp. your panelists are members of allied groups, including the national association of Home Builders, texas association of local Housing Finance agencies, texas apartment association and texas association of Builders. learn what these groups are focused on in washington and in austin. What the legislature is Saying about us as the newest member of the senate intergovernmental relations committee, our invited guest, veteran legislator Sen. José Menéndez, watched the affordable housing industry from a new vantage point during the last legislative session. sen. menéndez received taaHp’s lifetime Housing Hero award last year for his continued support of affordable housing while a member of the texas House of representatives. Hear an unvarnished appraisal of affordable housing’s prospects in the 2017 legislature and how you can make a difference. What our regulators are Saying taaHp is pleased to welcome again J. paul oxer, chairman of the Board of the texas Department of Housing and community affairs (tDHca) and tim irvine, Executive Director of tDHca. mr. oxer and mr. irvine each enjoy responding to your questions and comments. if you have questions about anything related to tDHca, this is the place to bring them. also look for guidance regarding tDHca’s future initiatives as well as comments on current issues.
Texas affordable Housi ng M agazi ne
t E x a s
H o u s i n G
c o n F E r E n c E
Monday, July 25, 2016
Tuesday, July 26, 2016
JW Marriott Hotel – austin
JW Marriott Hotel – austin
Morning refreshments 4th floor, grand ballroom 1 foyer 9:45 aM – 10:15 aM
breakfast Keynote-Dr. rob Dietz 4th floor, grand ballroom 1 7:30 aM – 8:30 aM
HuD Luncheon Tammy Trevino and nick ramon 4th floor, grand ballroom 3 & 4 12:00 noon – 1:00 PM
TAAHP Membership Meeting 4th floor, grand ballroom 5 3:30 PM – 4:15 PM
opening Keynote Michael ray newman 4th floor, grand ballroom 5 4:15 PM – 5:00 PM opening reception 4th floor, exhibit Hall 5:00 PM – 7:00 PM
Wine Trail 4th floor, exhibit Hall 5:00 PM – 7:00 PM
Morning refreshments 4th floor, exhibit Hall 9:45 aM – 10:15 aM; Visit booth 33
special events
Wednesday, July 27
P O L I C Y
Luncheon Keynote – Curt steinhorst 4th floor, grand ballroom 5 12:00 noon – 1:30 PM
Afternoon refreshments 4th floor, exhibit Hall 3:00 PM – 3:30 PM; Visit booth 46
Conference reception 4th floor, exhibit Hall 5:00 PM – 6:30 PM
Wednesday, July 27, 2016 JW Marriott Hotel – austin Policy brunch 4th floor, grand ballroom 5 8:30 aM – 12:30 PM
Texas affo rd abl e Housing Magazine
89
9:00 - 10:00 Am 4th Floor, Grand salon 5
10:00 - 11:00 Am 4th Floor, Grand salon 5
11:00 Am - 12:00 Pm 4th Floor, Grand salon 5
88
B r u n C H
What our Friends are Saying naHB chairman-elect granger MacDonald will moderate this panel of friends of taaHp. your panelists are members of allied groups, including the national association of Home Builders, texas association of local Housing Finance agencies, texas apartment association and texas association of Builders. learn what these groups are focused on in washington and in austin. What the legislature is Saying about us as the newest member of the senate intergovernmental relations committee, our invited guest, veteran legislator Sen. José Menéndez, watched the affordable housing industry from a new vantage point during the last legislative session. sen. menéndez received taaHp’s lifetime Housing Hero award last year for his continued support of affordable housing while a member of the texas House of representatives. Hear an unvarnished appraisal of affordable housing’s prospects in the 2017 legislature and how you can make a difference. What our regulators are Saying taaHp is pleased to welcome again J. paul oxer, chairman of the Board of the texas Department of Housing and community affairs (tDHca) and tim irvine, Executive Director of tDHca. mr. oxer and mr. irvine each enjoy responding to your questions and comments. if you have questions about anything related to tDHca, this is the place to bring them. also look for guidance regarding tDHca’s future initiatives as well as comments on current issues.
Texas affordable Housi ng M agazi ne
t E x a s
H o u s i n G
c o n F E r E n c E
Monday, July 25, 2016
Tuesday, July 26, 2016
JW Marriott Hotel – austin
JW Marriott Hotel – austin
Morning refreshments 4th floor, grand ballroom 1 foyer 9:45 aM – 10:15 aM
breakfast Keynote-Dr. rob Dietz 4th floor, grand ballroom 1 7:30 aM – 8:30 aM
HuD Luncheon Tammy Trevino and nick ramon 4th floor, grand ballroom 3 & 4 12:00 noon – 1:00 PM
TAAHP Membership Meeting 4th floor, grand ballroom 5 3:30 PM – 4:15 PM
opening Keynote Michael ray newman 4th floor, grand ballroom 5 4:15 PM – 5:00 PM opening reception 4th floor, exhibit Hall 5:00 PM – 7:00 PM
Wine Trail 4th floor, exhibit Hall 5:00 PM – 7:00 PM
Morning refreshments 4th floor, exhibit Hall 9:45 aM – 10:15 aM; Visit booth 33
special events
Wednesday, July 27
P O L I C Y
Luncheon Keynote – Curt steinhorst 4th floor, grand ballroom 5 12:00 noon – 1:30 PM
Afternoon refreshments 4th floor, exhibit Hall 3:00 PM – 3:30 PM; Visit booth 46
Conference reception 4th floor, exhibit Hall 5:00 PM – 6:30 PM
Wednesday, July 27, 2016 JW Marriott Hotel – austin Policy brunch 4th floor, grand ballroom 5 8:30 aM – 12:30 PM
Texas affo rd abl e Housing Magazine
89
J E A N W. M A C D O N A L D L I F E T I M E A C H I E V E M E N T A WA R D
Congratulations to our previous recipients: 2011 Jean W. MacDonald 2012 Edwina Carrington 2013 Diana McIver
A Big Salute
To Our Past Presidents 2014-2015
2013-2014
2012-2013
2011-2012
2010-2011
2009-2010
2008-2009
2007-2008
2006-2007
2005-2006
2004-2005
2003-2004
2002-2003
2001-2002
2000-2001
1999-2000
1998-1999
Justin MacDonald MacDonald Companies
Antoinette M. “Toni” Jackson Jones Walker LLP
Mike Sugrue Stoneleaf Companies
2014 Cynthia Bast 2015 Jeanne Talerico
Diana McIver DMA Develoment Co., LLC
Chris Bergman TCR Affordable Housing, Inc.
Award presentation will be held during the annual Texas Housing Conference Luncheon on July 26, 2016. 90
Texas affordable Housi ng M agazi ne
Dick Kilday Kilday Realty Corp
George Littlejohn Novogradac & Company LLP
Dan Markson The NRP Group
Mike Clark Alpha-Barnes Real Estate Services
Jerry Wright Dougherty & Company LLC
JOT Couch Texas Inter-Faith Supportive Services
Barry Kahn Hettig-Kahn Develpment Co.
Linda McMahon Neighborhood Strategies LLC
Granger MacDonald MacDonald Companies
Mike Lankford Mike Lankford Interests, LLC
Sally Gaskin SGI Ventures, Inc.
Edwina Carrington CHK Enterprise LLC
Texas affo rd abl e Housing Magazine
91
J E A N W. M A C D O N A L D L I F E T I M E A C H I E V E M E N T A WA R D
Congratulations to our previous recipients: 2011 Jean W. MacDonald 2012 Edwina Carrington 2013 Diana McIver
A Big Salute
To Our Past Presidents 2014-2015
2013-2014
2012-2013
2011-2012
2010-2011
2009-2010
2008-2009
2007-2008
2006-2007
2005-2006
2004-2005
2003-2004
2002-2003
2001-2002
2000-2001
1999-2000
1998-1999
Justin MacDonald MacDonald Companies
Antoinette M. “Toni” Jackson Jones Walker LLP
Mike Sugrue Stoneleaf Companies
2014 Cynthia Bast 2015 Jeanne Talerico
Diana McIver DMA Develoment Co., LLC
Chris Bergman TCR Affordable Housing, Inc.
Award presentation will be held during the annual Texas Housing Conference Luncheon on July 26, 2016. 90
Texas affordable Housi ng M agazi ne
Dick Kilday Kilday Realty Corp
George Littlejohn Novogradac & Company LLP
Dan Markson The NRP Group
Mike Clark Alpha-Barnes Real Estate Services
Jerry Wright Dougherty & Company LLC
JOT Couch Texas Inter-Faith Supportive Services
Barry Kahn Hettig-Kahn Develpment Co.
Linda McMahon Neighborhood Strategies LLC
Granger MacDonald MacDonald Companies
Mike Lankford Mike Lankford Interests, LLC
Sally Gaskin SGI Ventures, Inc.
Edwina Carrington CHK Enterprise LLC
Texas affo rd abl e Housing Magazine
91
a brief update on TaaHP’s government affairs initiatives Producing
AWARD-WINNING AFFORDABLE HOUSING COMMUNITIES i n Texa s s in ce 1997
by: bobby bowling Chairman, government affairs Committee
it is a pleasure to have served as your government affairs director this past year—a role aptly placed on the incoming President of TaaHP in our by-laws to help prepare for that final step up the ladder as President. during my time in this role, we have been preparing for the next legislative session, monitoring national issues, gathering input and preparing comments for the QaP as we do every year. i want to extend a special “thank you” to Janine sisak for taking on the arduous task of Chairing our QaP Committee. Thank you Janine, and thanks for agreeing to Chair the Committee again for 2017. on the legislative/court front, we are all aware of the recent supreme Court ruling on the iCP—TdHCa lawsuit. While we all may have opinions as to the public policy shift that gives so much weight to “High opportunity areas”, or “Hoas”, that TdHCa created a few years back, this policy is currently in place as part of the remedial plan submitted to the court, and something we all have to live with for now and the immediate future. as with most laws/court rulings there are often unintended consequences. one of the most glaring unintended consequences of the establishment of Hoas, coupled with the “Political support” point items in the Texas QaP, is the obnoxious and probably illegal power NIMBY (“Not In My Back Yard”) forces have been granted in the tax credit development evaluation process. fortunately, there is hope. The Texas House urban affairs Committee held their first interim Hearing on this issue in Houston in May, and will be holding more hearings to gather input on this issue. i had the opportunity to speak for TaaHP at that hearing and i can tell you it was one of the most positive interim Hearings i have had the pleasure of attending. The individual state legislators on the Committee were extremely well-informed on this issue, and the invited testimony, (which included non-profits, private developers, industry trade groups, consumer advocate groups and even local governments and housing authorities) was 100% united on combatting “NIMBY-ism”. One House Member even queried as to why our developments are held up to often times a series of public hearings at the local level, when regular apartment complexes (who serve mostly the same population we do in tax credit housing) are not. Well, we agree with you representative and we hope to eliminate that point item in the next session with your help! also on the legislative radar screen is our attempt as an industry to introduce fairness and uniformity on the tax appraisal front. How often has it happened that in the same appraisal district we are told that the “income method” will be used on our most profitable deals, but on our less profitable deals, we are told that some “hybrid method” or some “minimum” (that seems to be pulled out of the sky) will be applied? There is a case in where employees of the appraisal district express indifference to or ignorance of any objective, quantifiable methodology in determining value of tax credit housing. We hope to correct this inequity as well during the next legislative session. finally, we are fast at work developing ideas for the 2017 QaP. TdHCa has taken the unprecedented action gathering input at monthly public working sessions. We appreciate the opportunity to gather and exchange ideas a great deal. Much of the focus is on the non-legislative and non-court mandated items such as amenities within an Hoa, poverty rates and other features. Many of the census tracts in our state that meet the current definition of “Hoa” are completely built-out, leaving developers in some counties to all chase the same parcels of land in those areas. This leads to an artificial increase in the price of land and creates a disproportionate need for tax credits to get deals done in those areas—this is not a good use of tax credits when our state has such a drastic need for affordable housing.
The Voice of Affordable Housing in Texas www.taahp.org 92
Texas affordable Housi ng M agazi ne
in closing i want to thank you all for your support and membership in TaaHP. Too often, members do not see the full benefits of the power of their dollars going to TaaHP. if and when you feel that way, i encourage you to log into our website or call frank Jackson and find out what we are working on in government affairs. i assure you, your money is being well spent looking after your business interests! Please be available next legislative session to testify or help us with other grass-roots support to pass legislation that will help our industry and…enjoy the Conference! Texas affo rd abl e Housing Magazine
93
a brief update on TaaHP’s government affairs initiatives Producing
AWARD-WINNING AFFORDABLE HOUSING COMMUNITIES i n Texa s s in ce 1997
by: bobby bowling Chairman, government affairs Committee
it is a pleasure to have served as your government affairs director this past year—a role aptly placed on the incoming President of TaaHP in our by-laws to help prepare for that final step up the ladder as President. during my time in this role, we have been preparing for the next legislative session, monitoring national issues, gathering input and preparing comments for the QaP as we do every year. i want to extend a special “thank you” to Janine sisak for taking on the arduous task of Chairing our QaP Committee. Thank you Janine, and thanks for agreeing to Chair the Committee again for 2017. on the legislative/court front, we are all aware of the recent supreme Court ruling on the iCP—TdHCa lawsuit. While we all may have opinions as to the public policy shift that gives so much weight to “High opportunity areas”, or “Hoas”, that TdHCa created a few years back, this policy is currently in place as part of the remedial plan submitted to the court, and something we all have to live with for now and the immediate future. as with most laws/court rulings there are often unintended consequences. one of the most glaring unintended consequences of the establishment of Hoas, coupled with the “Political support” point items in the Texas QaP, is the obnoxious and probably illegal power NIMBY (“Not In My Back Yard”) forces have been granted in the tax credit development evaluation process. fortunately, there is hope. The Texas House urban affairs Committee held their first interim Hearing on this issue in Houston in May, and will be holding more hearings to gather input on this issue. i had the opportunity to speak for TaaHP at that hearing and i can tell you it was one of the most positive interim Hearings i have had the pleasure of attending. The individual state legislators on the Committee were extremely well-informed on this issue, and the invited testimony, (which included non-profits, private developers, industry trade groups, consumer advocate groups and even local governments and housing authorities) was 100% united on combatting “NIMBY-ism”. One House Member even queried as to why our developments are held up to often times a series of public hearings at the local level, when regular apartment complexes (who serve mostly the same population we do in tax credit housing) are not. Well, we agree with you representative and we hope to eliminate that point item in the next session with your help! also on the legislative radar screen is our attempt as an industry to introduce fairness and uniformity on the tax appraisal front. How often has it happened that in the same appraisal district we are told that the “income method” will be used on our most profitable deals, but on our less profitable deals, we are told that some “hybrid method” or some “minimum” (that seems to be pulled out of the sky) will be applied? There is a case in where employees of the appraisal district express indifference to or ignorance of any objective, quantifiable methodology in determining value of tax credit housing. We hope to correct this inequity as well during the next legislative session. finally, we are fast at work developing ideas for the 2017 QaP. TdHCa has taken the unprecedented action gathering input at monthly public working sessions. We appreciate the opportunity to gather and exchange ideas a great deal. Much of the focus is on the non-legislative and non-court mandated items such as amenities within an Hoa, poverty rates and other features. Many of the census tracts in our state that meet the current definition of “Hoa” are completely built-out, leaving developers in some counties to all chase the same parcels of land in those areas. This leads to an artificial increase in the price of land and creates a disproportionate need for tax credits to get deals done in those areas—this is not a good use of tax credits when our state has such a drastic need for affordable housing.
The Voice of Affordable Housing in Texas www.taahp.org 92
Texas affordable Housi ng M agazi ne
in closing i want to thank you all for your support and membership in TaaHP. Too often, members do not see the full benefits of the power of their dollars going to TaaHP. if and when you feel that way, i encourage you to log into our website or call frank Jackson and find out what we are working on in government affairs. i assure you, your money is being well spent looking after your business interests! Please be available next legislative session to testify or help us with other grass-roots support to pass legislation that will help our industry and…enjoy the Conference! Texas affo rd abl e Housing Magazine
93
Special Thanks to this year’s Golf Sponsors Mike Lankford Memorial Golf Tournament 2016
Bank of America Merrill Lynch Tropicana Building Corp. City Real Estate Advisors CohnReznick Coats | Rose Novogradac State Tax Credit Exchange Arnall Golden Gregory Gershman Mortgage
Todd Kercheval Hettig Kahn Development Stoneleaf Companies Highland Commercial Mortgage Texas Ranch Brokers Alliant Wilmington Trust Affordable Housing Partners Highland Commercial Mortgage
SUCCESS BUILDS SUCCESS OUR PROVEN TRACK RECORD. YOUR SOLID FOUNDATION. u u u u u
Sponsoring affordable housing since
1969
100+ tax credit funds sponsored nationwide since 1987 1,750+ tax credit properties in 46 states $20 billion+ in financing generated for affordable housing Backed by the strength of one of the largest financial firms in the U.S.
A PROUD SPONSOR OF THE 2016 TEXAS HOUSING CONFERENCE
VISIT US AT BOOTH 48
24th Annual TALHFA Educational Conference September 7th – 9th, 2016 OMNI La Mansión del Rio Hotel - San Antonio www.TALHFA.org 94
GARY ROBINSON Vice President, Managing Director of Acquisitions // 727.567.5014 RJTaxCreditFunds.com // 800.438.8088
BIRMINGHAM, AL // CHICAGO, IL // CLEVELAND, OH // LAKE OSWEGO, OR NEW YORK, NY // SAN DIEGO, CA // ST. PETERSBURG, FL Raymond James® is a registered trademark of Raymond James Financial, Inc. 16-TCF-0217 TA 3/16
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
95
Special Thanks to this year’s Golf Sponsors Mike Lankford Memorial Golf Tournament 2016
Bank of America Merrill Lynch Tropicana Building Corp. City Real Estate Advisors CohnReznick Coats | Rose Novogradac State Tax Credit Exchange Arnall Golden Gregory Gershman Mortgage
Todd Kercheval Hettig Kahn Development Stoneleaf Companies Highland Commercial Mortgage Texas Ranch Brokers Alliant Wilmington Trust Affordable Housing Partners Highland Commercial Mortgage
SUCCESS BUILDS SUCCESS OUR PROVEN TRACK RECORD. YOUR SOLID FOUNDATION. u u u u u
Sponsoring affordable housing since
1969
100+ tax credit funds sponsored nationwide since 1987 1,750+ tax credit properties in 46 states $20 billion+ in financing generated for affordable housing Backed by the strength of one of the largest financial firms in the U.S.
A PROUD SPONSOR OF THE 2016 TEXAS HOUSING CONFERENCE
VISIT US AT BOOTH 48
24th Annual TALHFA Educational Conference September 7th – 9th, 2016 OMNI La Mansión del Rio Hotel - San Antonio www.TALHFA.org 94
GARY ROBINSON Vice President, Managing Director of Acquisitions // 727.567.5014 RJTaxCreditFunds.com // 800.438.8088
BIRMINGHAM, AL // CHICAGO, IL // CLEVELAND, OH // LAKE OSWEGO, OR NEW YORK, NY // SAN DIEGO, CA // ST. PETERSBURG, FL Raymond James® is a registered trademark of Raymond James Financial, Inc. 16-TCF-0217 TA 3/16
Texas Affordable Housi ng M agazi ne
Texas Affo rd abl e Housing Magazine
95
Ideas in Action: Vibrant Affordable Housing Communities Complex deals require an experienced, nationwide team with one-stop-shop debt and equity capabilities that bring together balance sheet, equity and permanent loan offerings. At Key, 50 financing experts offer fresh lending and investment ideas that help local affordable housing and economic development projects succeed. Seize opportunities to transform neighborhoods.
For fresh ideas, contact: Robert L. Likes 801-297-5811 robert_l_likes@keybank.com key.com/cdl
ÂŽ
Ideas Are the New Currency Balance Sheet | Equity Investments | Lines of Credit Permanent Loans | Construction | Acquisition | Preservation
96
Texas affordable Housi ng M agazi ne
Banking products and services are offered by KeyBank National Association. All credit products subject to credit approval. Key.com is a federally registered service mark of KeyCorp. Š2016 KeyCorp. KeyBank is Member FDIC. 160518-84698
Texas affo rd abl e Housing Magazine
97
Ideas in Action: Vibrant Affordable Housing Communities Complex deals require an experienced, nationwide team with one-stop-shop debt and equity capabilities that bring together balance sheet, equity and permanent loan offerings. At Key, 50 financing experts offer fresh lending and investment ideas that help local affordable housing and economic development projects succeed. Seize opportunities to transform neighborhoods.
For fresh ideas, contact: Robert L. Likes 801-297-5811 robert_l_likes@keybank.com key.com/cdl
ÂŽ
Ideas Are the New Currency Balance Sheet | Equity Investments | Lines of Credit Permanent Loans | Construction | Acquisition | Preservation
96
Texas affordable Housi ng M agazi ne
Banking products and services are offered by KeyBank National Association. All credit products subject to credit approval. Key.com is a federally registered service mark of KeyCorp. Š2016 KeyCorp. KeyBank is Member FDIC. 160518-84698
Texas affo rd abl e Housing Magazine
97
WHILE SOME WAGE HOT WATER WARS, RINNAI FAMILIES HAVE DECLARED PEACE. ENTREPRENEURIAL CREATIVITY. INSTITUTIONAL EXECUTION. TRUSTED CLIENT PARTNERSHIPS. RECENTLY CLOSED TRANSACTIONS
A shower. Laundry. Running the dishwasher. When dinner ends, the scramble to use hot water begins. It doesn’t have to be that way. With a Rinnai Tankless Water Heater your family will have an endless supply of hot water for everything you need. Hot water wars over. Peace and harmony at home achieved.
To learn more about Rinnai’s innovative lineup of high-efficiency water heaters, visit us at rinnai.us/tankless
$16,471,205 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION HOUSTON, TX
$6,007,334 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION MONAHANS, TX
$14,708,354 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION WOLFFORTH, TX
$4,584,452 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION PECOS, TX
TAX CREDIT EQUITY
RED STONE IS A NATIONAL MULTIFAMILY
DREW FOSTER 212-225-8294
REAL ESTATE FINANCE COMPANY PROVIDING
DREW.FOSTER@REDSTONEEQUITY.COM
TO THE AFFORDABLE HOUSING INDUSTRY.
BOSTON • CHARLOTTE • CHICAGO • CLEVELAND • LOS ANGELES • NEW YORK
WWW.RSEQUITY.COM
#home
Rinnai. Hot water for all.
INNOVATIVE FINANCIAL PRODUCTS
CIVIL ENGINEERING CONSULTING LAND DEVELOPMENT MUNICIPAL ENGINEERING CONSTRUCTION PHASE SERVICES GREG HASTY ghasty@ wilmingtontrust.com 972.383.3153
STEPHEN MCPHERSON smcpherson@ wilmingtontrust.com 972.383.3161
CHUCK HICKS chicks@ wilmingtontrust.com 972.383.3152
CAM LINDSEY clindsey@ wilmingtontrust.com 972.383.3151
DAYNA SMITH dlsmith@ wilmingtontrust.com 972.383.3154
The concept of creating a place to call “home” is what drives our practice in the development of multi-family residential communities.
RENOWNED PUBLIC FINANCE AND AGENCY EXPERIENCE Wilmington Trust is an approved Trustee for the Texas Department of Housing and Community Affairs (TDHCA) and the Texas State Affordable Housing Corporation (TSAHC). Get in touch with experience. Call one of us or email experience@wilmingtontrust.com.
MUNICIPAL BOND TRUSTEE | ESCROW AGENT | SUCCESSOR TRUSTEE | CUSTODY INSTITUTIONAL INVESTMENT MANAGEMENT | DEFAULT TRUSTEE ADMINISTRATION ©2016 Wilmington Trust Corporation and its affiliates. All rights reserved.
98
Texas affordable Housi ng M agazi ne
WGA provides civil engineering consulting and design services for multi-family developments. From moderatedensity communities to high-density urban towers, our expertise and understanding of building systems analysis and permitting issues and concerns enables us to assist design teams with integrated site and building designs. We understand intimately how to design the project. We have demonstrated experience successfully working with approving agencies. We’re ready to help you create a home for your clients.
visit us at booth # 41
Ryan Getz, PE | 713.789.1900 | rgetz@wga-llp.com | wga-llp.com
Texas affo rd abl e Housing Magazine
99
WHILE SOME WAGE HOT WATER WARS, RINNAI FAMILIES HAVE DECLARED PEACE. ENTREPRENEURIAL CREATIVITY. INSTITUTIONAL EXECUTION. TRUSTED CLIENT PARTNERSHIPS. RECENTLY CLOSED TRANSACTIONS
A shower. Laundry. Running the dishwasher. When dinner ends, the scramble to use hot water begins. It doesn’t have to be that way. With a Rinnai Tankless Water Heater your family will have an endless supply of hot water for everything you need. Hot water wars over. Peace and harmony at home achieved.
To learn more about Rinnai’s innovative lineup of high-efficiency water heaters, visit us at rinnai.us/tankless
$16,471,205 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION HOUSTON, TX
$6,007,334 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION MONAHANS, TX
$14,708,354 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION WOLFFORTH, TX
$4,584,452 9% LIHTC EQUITY FAMILY / NEW CONSTRUCTION PECOS, TX
TAX CREDIT EQUITY
RED STONE IS A NATIONAL MULTIFAMILY
DREW FOSTER 212-225-8294
REAL ESTATE FINANCE COMPANY PROVIDING
DREW.FOSTER@REDSTONEEQUITY.COM
TO THE AFFORDABLE HOUSING INDUSTRY.
BOSTON • CHARLOTTE • CHICAGO • CLEVELAND • LOS ANGELES • NEW YORK
WWW.RSEQUITY.COM
#home
Rinnai. Hot water for all.
INNOVATIVE FINANCIAL PRODUCTS
CIVIL ENGINEERING CONSULTING LAND DEVELOPMENT MUNICIPAL ENGINEERING CONSTRUCTION PHASE SERVICES GREG HASTY ghasty@ wilmingtontrust.com 972.383.3153
STEPHEN MCPHERSON smcpherson@ wilmingtontrust.com 972.383.3161
CHUCK HICKS chicks@ wilmingtontrust.com 972.383.3152
CAM LINDSEY clindsey@ wilmingtontrust.com 972.383.3151
DAYNA SMITH dlsmith@ wilmingtontrust.com 972.383.3154
The concept of creating a place to call “home” is what drives our practice in the development of multi-family residential communities.
RENOWNED PUBLIC FINANCE AND AGENCY EXPERIENCE Wilmington Trust is an approved Trustee for the Texas Department of Housing and Community Affairs (TDHCA) and the Texas State Affordable Housing Corporation (TSAHC). Get in touch with experience. Call one of us or email experience@wilmingtontrust.com.
MUNICIPAL BOND TRUSTEE | ESCROW AGENT | SUCCESSOR TRUSTEE | CUSTODY INSTITUTIONAL INVESTMENT MANAGEMENT | DEFAULT TRUSTEE ADMINISTRATION ©2016 Wilmington Trust Corporation and its affiliates. All rights reserved.
98
Texas affordable Housi ng M agazi ne
WGA provides civil engineering consulting and design services for multi-family developments. From moderatedensity communities to high-density urban towers, our expertise and understanding of building systems analysis and permitting issues and concerns enables us to assist design teams with integrated site and building designs. We understand intimately how to design the project. We have demonstrated experience successfully working with approving agencies. We’re ready to help you create a home for your clients.
visit us at booth # 41
Ryan Getz, PE | 713.789.1900 | rgetz@wga-llp.com | wga-llp.com
Texas affo rd abl e Housing Magazine
99
Exhitit Layout
E x h i b i t o r
&
P a r t n e r
d i r e c t o r y
FREIGHT FREIGHT ELEVATORS ELEVATORS
E x h i b i t o r
10
9
8
Gershman Gershman Mortgage Mortgage
7
7
Wallace Wallace Architects,Architects, LLC LLC
6
First Sterling Financial, Inc. Bank of Texas
AEGON USA Realty Advisors
5
AEGON USA Realty Advisors
3
4 3
Allied Redstone Orion Equity Group Partners LLC
11 12
FDI
Redstone Equity Partners LLC
1123
23
1222
FDIJones Walker LLP
13
22
Jones Walker LLP
1321
21
State Tax State Alden Tax Alden Credit Credit Capital Capital Exchange Exchange Partners Partners
14
Bank of Texas
4
1420
20
Shackelford, Shackelford, Coats Coats Bowen, Bowen, Rose Rose McKinley &McKinley & Norton, Norton, LLP LLP
15
1519
Capital Wells One, Fargo N.A.
Capital One, N.A.
BellwetherBellwether Enterprise Enterprise Real EstateReal Estate Capital Capital
Wells Fargo
Gardner Gardner Capital, Capital, Inc. Inc.
JPMorganJPMorgan Chase Chase & Company & Company
2
1
2425
WilmingtonWilmington Boston Boston Trust Trust Financial Financial N.A. N.A.
6
First Sterling Financial, Inc.
5
Allied Orion Group
2
16
1618
17
19 18
2539
3965
65 40
4054
54
Amegy Bank
Amegy Bank
Ward, Getz Ward, Getz Berkadia Berkadia & Associates & Associates LLP LLP
55
55
Bowen National Research
Bowen National Research
Galaxy Galaxy Boston Boston Builders, Builders, Capital Capital Ltd. Ltd.Corporation Corporation
ARAARAJohnson Johnson Petrov Petrov Newmark, Newmark, LLP LLP Affordable Affordable
Brown, Graham & Company P.C.
Brown, Graham & Company P.C.
Federal Federal ICI ICI Home LoanHome Loan Construction Construction Bank of Bank Inc.of Inc. Dallas Dallas
Alliant Capital Ltd.
Pathfinder LL&D Insurance Group
Pathfinder LL&D Insurance Group
City of Dallas -
City of Dallas -
CenterPoint CenterPoint Tidwell Tidwell Energy Energy Group Group
26
2638
27
2737
28
2836
38
37 36
Novogradac Novogradac Goodman Goodman & Company& Company Manufacturing Manufacturing LLP LLPCompany, Company,
29
Hudson Housing Captial
L.P.
2935L.P.
Hudson Locke Lord Housing LLP Captial
30
Locke Lord LLP
3034
Richman Portfolio Portfolio Group Resident Resident Affordable Service Service Housing Corp.
31
35
34
Richman Group Affordable Housing Corp.
3133
33
R4 CapitalR4 Capital
17
41
Housing
4153
53 56
42Housing 4252 Alliant PNC Real Capital Ltd.Estate
43
PNC Real Estate
4351
52 57 51 58
National National Churchill Churchill Equity Equity Stateside Stateside Fund Fund Group Group
44
4450
RBC CapitalRBC Capital CREA CREA Markets- MarketsTax Credit Tax Credit Equity Equity Group Group Citi CitiRaymond Raymond James & James & Community Community Associates,Associates, Capital Capital Inc. Inc.
45 46
4549 4648
32
32
47
ENTRANCE ENTRANCE
Texas Affor dable Housi ng M agazi ne
JW MARRIOTT JW MARRIOTT AUSTINAUSTIN - GRAND - GRAND BALLROOMS BALLROOMS 6-8 6-8
ELEVATORS ELEVATORS
58 59
Centerpoint Energy Houston Electric
Red Capital
Red Capital
60
60
ELEVATORS ELEVATORS
61
Royce Royce Communication Communication Services Services
48 62
62
BBVA BBVA Compass Compass
63 64
57
Centerpoint Energy Houston Electric
49 61
47
56
Economic Economic Development Development
50 59
CohnReznick CohnReznick L.L.P. L.L.P.
Bank of America Bank of America Merrill Lynch Merrill Lynch
100
Advisors Advisors
1
ENTRANCE ENTRANCE
d i r e c t o r y
WOMEN WOMEN
Sonoma Sonoma CBRE Housing Housing
9
Capstone Capstone Consulting Consulting & Compliance & Compliance Services Services
8
1024
P a r t n e r
SERVICE SERVICE ELEVATORS ELEVATORS
Phase Phase Key Bank Key Pavillion Bank Pavillion National National Dauby, Dauby, CBRE O’Connor &O’Connor & Engineering Engineering Construction Church Church Construction Zaleski, LLCZaleski, LLC ResidencesResidences BonnevilleBonneville MultifamilyMultifamily Capital Capital
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Exhitit Layout
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FREIGHT FREIGHT ELEVATORS ELEVATORS
E x h i b i t o r
10
9
8
Gershman Gershman Mortgage Mortgage
7
7
Wallace Wallace Architects,Architects, LLC LLC
6
First Sterling Financial, Inc. Bank of Texas
AEGON USA Realty Advisors
5
AEGON USA Realty Advisors
3
4 3
Allied Redstone Orion Equity Group Partners LLC
11 12
FDI
Redstone Equity Partners LLC
1123
23
1222
FDIJones Walker LLP
13
22
Jones Walker LLP
1321
21
State Tax State Alden Tax Alden Credit Credit Capital Capital Exchange Exchange Partners Partners
14
Bank of Texas
4
1420
20
Shackelford, Shackelford, Coats Coats Bowen, Bowen, Rose Rose McKinley &McKinley & Norton, Norton, LLP LLP
15
1519
Capital Wells One, Fargo N.A.
Capital One, N.A.
BellwetherBellwether Enterprise Enterprise Real EstateReal Estate Capital Capital
Wells Fargo
Gardner Gardner Capital, Capital, Inc. Inc.
JPMorganJPMorgan Chase Chase & Company & Company
2
1
2425
WilmingtonWilmington Boston Boston Trust Trust Financial Financial N.A. N.A.
6
First Sterling Financial, Inc.
5
Allied Orion Group
2
16
1618
17
19 18
2539
3965
65 40
4054
54
Amegy Bank
Amegy Bank
Ward, Getz Ward, Getz Berkadia Berkadia & Associates & Associates LLP LLP
55
55
Bowen National Research
Bowen National Research
Galaxy Galaxy Boston Boston Builders, Builders, Capital Capital Ltd. Ltd.Corporation Corporation
ARAARAJohnson Johnson Petrov Petrov Newmark, Newmark, LLP LLP Affordable Affordable
Brown, Graham & Company P.C.
Brown, Graham & Company P.C.
Federal Federal ICI ICI Home LoanHome Loan Construction Construction Bank of Bank Inc.of Inc. Dallas Dallas
Alliant Capital Ltd.
Pathfinder LL&D Insurance Group
Pathfinder LL&D Insurance Group
City of Dallas -
City of Dallas -
CenterPoint CenterPoint Tidwell Tidwell Energy Energy Group Group
26
2638
27
2737
28
2836
38
37 36
Novogradac Novogradac Goodman Goodman & Company& Company Manufacturing Manufacturing LLP LLPCompany, Company,
29
Hudson Housing Captial
L.P.
2935L.P.
Hudson Locke Lord Housing LLP Captial
30
Locke Lord LLP
3034
Richman Portfolio Portfolio Group Resident Resident Affordable Service Service Housing Corp.
31
35
34
Richman Group Affordable Housing Corp.
3133
33
R4 CapitalR4 Capital
17
41
Housing
4153
53 56
42Housing 4252 Alliant PNC Real Capital Ltd.Estate
43
PNC Real Estate
4351
52 57 51 58
National National Churchill Churchill Equity Equity Stateside Stateside Fund Fund Group Group
44
4450
RBC CapitalRBC Capital CREA CREA Markets- MarketsTax Credit Tax Credit Equity Equity Group Group Citi CitiRaymond Raymond James & James & Community Community Associates,Associates, Capital Capital Inc. Inc.
45 46
4549 4648
32
32
47
ENTRANCE ENTRANCE
Texas Affor dable Housi ng M agazi ne
JW MARRIOTT JW MARRIOTT AUSTINAUSTIN - GRAND - GRAND BALLROOMS BALLROOMS 6-8 6-8
ELEVATORS ELEVATORS
58 59
Centerpoint Energy Houston Electric
Red Capital
Red Capital
60
60
ELEVATORS ELEVATORS
61
Royce Royce Communication Communication Services Services
48 62
62
BBVA BBVA Compass Compass
63 64
57
Centerpoint Energy Houston Electric
49 61
47
56
Economic Economic Development Development
50 59
CohnReznick CohnReznick L.L.P. L.L.P.
Bank of America Bank of America Merrill Lynch Merrill Lynch
100
Advisors Advisors
1
ENTRANCE ENTRANCE
d i r e c t o r y
WOMEN WOMEN
Sonoma Sonoma CBRE Housing Housing
9
Capstone Capstone Consulting Consulting & Compliance & Compliance Services Services
8
1024
P a r t n e r
SERVICE SERVICE ELEVATORS ELEVATORS
Phase Phase Key Bank Key Pavillion Bank Pavillion National National Dauby, Dauby, CBRE O’Connor &O’Connor & Engineering Engineering Construction Church Church Construction Zaleski, LLCZaleski, LLC ResidencesResidences BonnevilleBonneville MultifamilyMultifamily Capital Capital
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JW Marriott Austin Grand Ballrooms 6-8
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Bank of America Merrill Lynch Booth 64
Gardner Capital Development Booth 1
Bank of America Merrill Lynch Valerie A. Williams, SVP, Client Manager 901 Main Street, 20th Floor, Dallas, TX 75202-3714 214.209.3219 valerie.a.williams@baml.com www.bankofamerica.com/community
Gardner Capital, Inc. Michael C. Gardner, Principal 8000 Maryland Ave., Ste. 910, Clayton, Missouri 63105 Direct: 314.561.5901 Cell: 214.842.0215 Fax: 314.963.9995 Email: michael@gardnercapital.com Gardner Capital Development: Developing Partnerships, Building Communities, Changing Lives
As you work to transform lives and communities, connect with more than 30 years of community development experience, expertise and commitment at Bank of America Merrill Lynch. Whether you need tax-credit investments, flexible lending or other financial services, we can help you move projects to completion. We’ve committed $1.5 trillion to community development over the last 10 years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.
Gardner Capital owns and operates several businesses throughout the United States, specifically focusing on housing and renewable energy development, investment and syndication of tax credits. Gardner has invested more than $1 billion of equity to provide affordable housing in over 50 communities. The principals, Mark Gardner and Michael Gardner, continue to expand the national footprint of renewable energy, market rate housing, affordable housing, private equity and construction management services with nine offices and staff across the United States.
BBVA Compass Booth 63 BBVA Compass Ken L. Overshiner Senior Vice President Community Development Capital, BBVA Compass 713-966-2303 Cell 346-228-2394 Ken.Overshiner@bbva.com BBVA Compass is a Sunbelt-based financial institution that operates 674 branches and commercial and private client offices throughout the U.S. It ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the 5 largest banks in Alabama, Texas and Arizona. BBVA Compass recently earned top nods for best mobile app and best regional bank in the South & West in Money magazine’s annual list of the Best Banks in America.
CohnReznick LLP Booth 47 CohnReznick LLP Matt Stille, Partner 816 Congress Avenue, Suite 200, Austin, TX 78701 512-494-9100 + matt.stille@cohnreznick.com www.cohnreznick.com CohnReznick is one of the largest (27 offices, 2700+ professionals) accounting, tax, and advisory firm in the U.S. Our affordable housing practice continues to shape the policy of the industry, connect its people, and implement best practice solutions to help improve developer and investor outcomes. We provide pre-application services to Year 15 to the post-tax credit period utilizing our tax credit advisory, real estate development, construction, renewable energy, valuations, and transactions experts.
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JP Morgan Chase Booth 17 Chase Bank David H. Saling, Executive Director/Senior Commercial Banker 221 West Sixth Street, Floor 2, Austin, TX 78701 512.479.2218 + david.h.saling@chase.com www.chase.com/cdb Chase takes pride in working to develop vibrant and diverse communities capable of sustaining a high quality of life and economic opportunity. We distinguish ourselves as a national leader in community development by expanding access to capital, providing leadership by example, and delivering comprehensive community development solutions of our global bank. By providing the financial resources needed to grow and develop, Chase is leading the way to help strengthen communities across America.
R4 Capital Booth 32 K. Nicole Flores, Executive Vice President R4 Capital LLC 5113 Southwest Parkway, Suite 110, Austin, Texas 78735 O 512-575-4751 M 512 826 1596 NFlores@r4cap.com | www.r4cap.com R4 Capital (www.r4cap.com) is a privately held national Low-Income Housing Tax Credit (LIHTC) syndicator and asset manager with offices in New York City, Boston, Newport Beach, CA and Austin, TX. It has raised more than $1.1 billion of equity from more than 47 institutional investors since 2012. In January 2016 R4 Capital launched R4 Capital Funding, an affordable housing tax-exempt debt business that provides mortgage capital for affordable multifamily housing properties throughout the U.S.
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Bank of America Merrill Lynch Booth 64
Gardner Capital Development Booth 1
Bank of America Merrill Lynch Valerie A. Williams, SVP, Client Manager 901 Main Street, 20th Floor, Dallas, TX 75202-3714 214.209.3219 valerie.a.williams@baml.com www.bankofamerica.com/community
Gardner Capital, Inc. Michael C. Gardner, Principal 8000 Maryland Ave., Ste. 910, Clayton, Missouri 63105 Direct: 314.561.5901 Cell: 214.842.0215 Fax: 314.963.9995 Email: michael@gardnercapital.com Gardner Capital Development: Developing Partnerships, Building Communities, Changing Lives
As you work to transform lives and communities, connect with more than 30 years of community development experience, expertise and commitment at Bank of America Merrill Lynch. Whether you need tax-credit investments, flexible lending or other financial services, we can help you move projects to completion. We’ve committed $1.5 trillion to community development over the last 10 years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.
Gardner Capital owns and operates several businesses throughout the United States, specifically focusing on housing and renewable energy development, investment and syndication of tax credits. Gardner has invested more than $1 billion of equity to provide affordable housing in over 50 communities. The principals, Mark Gardner and Michael Gardner, continue to expand the national footprint of renewable energy, market rate housing, affordable housing, private equity and construction management services with nine offices and staff across the United States.
BBVA Compass Booth 63 BBVA Compass Ken L. Overshiner Senior Vice President Community Development Capital, BBVA Compass 713-966-2303 Cell 346-228-2394 Ken.Overshiner@bbva.com BBVA Compass is a Sunbelt-based financial institution that operates 674 branches and commercial and private client offices throughout the U.S. It ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the 5 largest banks in Alabama, Texas and Arizona. BBVA Compass recently earned top nods for best mobile app and best regional bank in the South & West in Money magazine’s annual list of the Best Banks in America.
CohnReznick LLP Booth 47 CohnReznick LLP Matt Stille, Partner 816 Congress Avenue, Suite 200, Austin, TX 78701 512-494-9100 + matt.stille@cohnreznick.com www.cohnreznick.com CohnReznick is one of the largest (27 offices, 2700+ professionals) accounting, tax, and advisory firm in the U.S. Our affordable housing practice continues to shape the policy of the industry, connect its people, and implement best practice solutions to help improve developer and investor outcomes. We provide pre-application services to Year 15 to the post-tax credit period utilizing our tax credit advisory, real estate development, construction, renewable energy, valuations, and transactions experts.
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diamond
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sapphire
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JP Morgan Chase Booth 17 Chase Bank David H. Saling, Executive Director/Senior Commercial Banker 221 West Sixth Street, Floor 2, Austin, TX 78701 512.479.2218 + david.h.saling@chase.com www.chase.com/cdb Chase takes pride in working to develop vibrant and diverse communities capable of sustaining a high quality of life and economic opportunity. We distinguish ourselves as a national leader in community development by expanding access to capital, providing leadership by example, and delivering comprehensive community development solutions of our global bank. By providing the financial resources needed to grow and develop, Chase is leading the way to help strengthen communities across America.
R4 Capital Booth 32 K. Nicole Flores, Executive Vice President R4 Capital LLC 5113 Southwest Parkway, Suite 110, Austin, Texas 78735 O 512-575-4751 M 512 826 1596 NFlores@r4cap.com | www.r4cap.com R4 Capital (www.r4cap.com) is a privately held national Low-Income Housing Tax Credit (LIHTC) syndicator and asset manager with offices in New York City, Boston, Newport Beach, CA and Austin, TX. It has raised more than $1.1 billion of equity from more than 47 institutional investors since 2012. In January 2016 R4 Capital launched R4 Capital Funding, an affordable housing tax-exempt debt business that provides mortgage capital for affordable multifamily housing properties throughout the U.S.
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Capital One Booth 18
Portfolio Resident Services & Inter-Faith Group Booth 31
Capital One, N.A. Ray Miller 5444 Westheimer Road, 6th Floor, Houston, TX 77057, 713.212.5240 + ray.miller@capitalone.com
Portfolio Resident Services 3701 Kirby Drive, Suite 860, Houston, TX 77098 713.526.6634 + frontdesk@ti-f.org portfolioresidentservices.org
Capital One Financial Corporation, headquartered in McLean, Virginia, is a Fortune 500 company with more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. Its subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One recognizes that housing plays a crucial part in neighborhood revitalization and economic recovery and in 2015,Capital One provided more than $1.4 billion in loans and investments last year, helping to create more than 11,000 affordable places to live and more than 13,000 jobs. To learn more, visit http://www.capitaloneinvestingforgood.com/.
Inter-Faith GROUP 3701 Kirby Drive, Suite 860, Houston, TX 77098 713.526.6634 + frontdesk@ti-f.org www.TheInterFaithGroup.org
Citi Community Capital Booth 46 Citi Community Capital Mahesh Aiyer 2800 Post Oak Blvd., Houston, TX 77056 713-752-5046 mahesh.aiyer@citi.com www.citicommunitycapital.com BBVA Compass is a Sunbelt-based financial institution that operates 674 branches and commercial and private client offices throughout the U.S. It ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the 5 largest banks in Alabama, Texas and Arizona. BBVA Compass recently earned top nods for best mobile app and best regional bank in the South & West in Money magazine’s annual list of the Best Banks in America.
SAVE THE DATE!
d i r e c t o r y
Platinum
Platinum
E x h i b i t o r
Inter-Faith GROUP represents companies dedicated to positively improving communities. The first entity, Texas Inter-Faith Housing Corp. established in 1966, pioneered additional GROUP organizations to include affordable housing communities, development, ownership, management, and resident services. Our advanced operations and visionary Boards of Directors continue to enhance GROUP as leaders in affordable housing. Portfolio Resident Services is a nonprofit organization dedicated to establishing resident services programs within affordable and conventional housing communities. PRS’ goal is to produce community of high quality. It designs, staffs, implements and tracks programs that proactively assist residents in both the short term and long and this results in “community” which improves asset performance. After modeling and refining resident services for over 15 years, PRS is one of the largest third party providers in the nation. PRS’s signature and improving Good Neighbor Program makes the difference.
The Richman Group Affordable Housing Corporation Booth 33 The Richman Group Affordable Housing Corporation Kevin Hoffman, Vice President 340 Pemberwick Road, Greenwich, CT 06831 203.869.0900 + HoffmanK@richmancapital.com www.therichmangroup.com The Richman Group and its affiliates has raised approximately $11 billion in equity and debt for investment in over 1,400 apartment projects located in 49 states, Puerto Rico, Guam and the U.S. Virgin Islands and includes a variety of locations: rural, suburban and urban. The properties include garden-style complexes, high-rise apartment houses, adaptive reuse of historic properties, and senior developments. Richman’s syndicated corporate tax credit funds are comprised of over 100 institutional investors.
2017 Texas Housing Conference JW Marriott Hotel in Austin, TX
July 24th – 26th, 2017
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Capital One Booth 18
Portfolio Resident Services & Inter-Faith Group Booth 31
Capital One, N.A. Ray Miller 5444 Westheimer Road, 6th Floor, Houston, TX 77057, 713.212.5240 + ray.miller@capitalone.com
Portfolio Resident Services 3701 Kirby Drive, Suite 860, Houston, TX 77098 713.526.6634 + frontdesk@ti-f.org portfolioresidentservices.org
Capital One Financial Corporation, headquartered in McLean, Virginia, is a Fortune 500 company with more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. Its subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One recognizes that housing plays a crucial part in neighborhood revitalization and economic recovery and in 2015,Capital One provided more than $1.4 billion in loans and investments last year, helping to create more than 11,000 affordable places to live and more than 13,000 jobs. To learn more, visit http://www.capitaloneinvestingforgood.com/.
Inter-Faith GROUP 3701 Kirby Drive, Suite 860, Houston, TX 77098 713.526.6634 + frontdesk@ti-f.org www.TheInterFaithGroup.org
Citi Community Capital Booth 46 Citi Community Capital Mahesh Aiyer 2800 Post Oak Blvd., Houston, TX 77056 713-752-5046 mahesh.aiyer@citi.com www.citicommunitycapital.com BBVA Compass is a Sunbelt-based financial institution that operates 674 branches and commercial and private client offices throughout the U.S. It ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the 5 largest banks in Alabama, Texas and Arizona. BBVA Compass recently earned top nods for best mobile app and best regional bank in the South & West in Money magazine’s annual list of the Best Banks in America.
SAVE THE DATE!
d i r e c t o r y
Platinum
Platinum
E x h i b i t o r
Inter-Faith GROUP represents companies dedicated to positively improving communities. The first entity, Texas Inter-Faith Housing Corp. established in 1966, pioneered additional GROUP organizations to include affordable housing communities, development, ownership, management, and resident services. Our advanced operations and visionary Boards of Directors continue to enhance GROUP as leaders in affordable housing. Portfolio Resident Services is a nonprofit organization dedicated to establishing resident services programs within affordable and conventional housing communities. PRS’ goal is to produce community of high quality. It designs, staffs, implements and tracks programs that proactively assist residents in both the short term and long and this results in “community” which improves asset performance. After modeling and refining resident services for over 15 years, PRS is one of the largest third party providers in the nation. PRS’s signature and improving Good Neighbor Program makes the difference.
The Richman Group Affordable Housing Corporation Booth 33 The Richman Group Affordable Housing Corporation Kevin Hoffman, Vice President 340 Pemberwick Road, Greenwich, CT 06831 203.869.0900 + HoffmanK@richmancapital.com www.therichmangroup.com The Richman Group and its affiliates has raised approximately $11 billion in equity and debt for investment in over 1,400 apartment projects located in 49 states, Puerto Rico, Guam and the U.S. Virgin Islands and includes a variety of locations: rural, suburban and urban. The properties include garden-style complexes, high-rise apartment houses, adaptive reuse of historic properties, and senior developments. Richman’s syndicated corporate tax credit funds are comprised of over 100 institutional investors.
2017 Texas Housing Conference JW Marriott Hotel in Austin, TX
July 24th – 26th, 2017
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City Real Estate Advisors Booth 49
Locke Lord LLP Booth 34
City Real Estate Advisors Rachel Thomas, Vice President-Acquisitions The Offices at The Domain Building One – Suite 360 11401 Century Oaks Terrace, Austin, TX 78758 512.821.4081 + rthomas@cityrealestateadvisors.com www.cityrealestateadvisors.com
Locke Lord LLP Cynthia L. Bast, Partner 600 Congress Avenue, Suite 2200, Austin, TX 78701 512.305.4700 + cbast@lockelord.com www.lockelord.com
d i r e c t o r y
City Real Estate Advisors, Inc. is a full-service low income housing tax credit syndicator, operating in 43 states and one US Territory. To date, CREA has raised and placed over $3.1 billion in LIHTC equity. With offices in Indianapolis, Boston, Austin, Portland St. Petersburg and San Diego, we are dedicated to helping developers get the capital and resources they need to create quality affordable housing — while offering excellent investments to our investor clients..
Locke Lord’s Affordable Housing Group provides comprehensive legal services to those who develop, own, manage, finance, and oversee affordable housing across the country. We combine a keen understanding of the business with our legal experience to provide effective advice and service to our clients. Over the years, we have closed hundreds of transactions nationwide, addressed compliance and regulatory matters, advocated for change in legislation and rules, and helped to reposition troubled properties. Our team has the key to success in your affordable housing endeavors.
Coats Rose, P.C. Booth 19
Raymond James Tax Credit Funds Booth 48
Coats Rose, P.C. Barry J. Palmer, Director 9 Greenway Plaza, Suite 1100, Houston, Texas 77046 713.653.7395 + bpalmer@coatsrose.com www.coatsrose.com
Raymond James Tax Credit Funds Gary Robinson, VP- Director of Acquisitions 880 Carillon Pkwy, St. Petersburg, FL 33716 727.567.5014 + gary.k.robinson@raymondjames.com www.rjtcf.com
The Coats Rose Affordable Housing Group has extensive experience and is focused on the development of affordable housing and inner city revitalization. We represent for-profit developers, non-profit developers and public housing authorities providing comprehensive solutions that utilize a variety of financing techniques, including low income housing tax credits, CDBG Disaster Recovery Funding, private activity bonds, historic tax credits, HUD programs, investment syndication and conventional financing.
Raymond James Tax Credit Funds is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSERJF). Raymond James and its subsidiaries have been among the leading syndicators of affordable housing for more than four decades. To date, Raymond James Tax Credit Funds has raised more than $6 billion in equity for more than 1,700 tax credit projects in 46 states.
Hudson Housing Capital Booth 30 Hudson Housing Capital Sam Ganeshan / Joshua Lappen 630 Fifth Avenue 28th Floor, New York, NY 10111 212.218.4469 / 212.218.4446 sam.ganeshan@hudsonhousing.com / josh.lappen@hudsonhousing.com www.hudsonhousing.com Hudson Housing Capital provides customized financial services to residential real estate developers and investors. Owned and managed by professionals with decades of experience in the industry, Hudson builds its business on long-term relationships, extensive expertise, and the ability to craft transactions uniquely tailored to each customer’s needs. Founded in 1998, Hudson has syndicated over 408 low-income housing tax credit investments preserving or creating nearly 42,442 multi-family rental units. The firm has placed more than $3.8 Billion in equity. Our breadth of expertise encompasses desirable units for families, seniors, special needs, assisted living – virtually every type of property option offered in the market.
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RBC Capital Markets Booth 45 RBCCM Tax Credit Equity Group Dan Kierce, Director 216.875.6043 Daniel.Kierce@rbccm.com www.rbccm.com/tceg John Sabatier, VP RBCCM Housing Finance Group 727.502.3631 John.Sabatier@rbccm.com www.rbccm.com/housingfinancegroup RBC Capital Markets Tax Credit Equity and Housing Finance Groups provide equity capital by utilizing federal and state LIHTC and HTC programs, and offers a complete range of multifamily solutions to meet the needs of developers, investors, PHAs and HFAs. Our team of over 100 professionals has raised more than $6.5 billion of equity from inception through 2015 for over 900 affordable housing developments nationwide, and has also senior managed 148 negotiated multifamily bond transactions totaling $1.86 billion from 2008 through 2015. Texas Affo rd abl e Housing Magazine
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City Real Estate Advisors Booth 49
Locke Lord LLP Booth 34
City Real Estate Advisors Rachel Thomas, Vice President-Acquisitions The Offices at The Domain Building One – Suite 360 11401 Century Oaks Terrace, Austin, TX 78758 512.821.4081 + rthomas@cityrealestateadvisors.com www.cityrealestateadvisors.com
Locke Lord LLP Cynthia L. Bast, Partner 600 Congress Avenue, Suite 2200, Austin, TX 78701 512.305.4700 + cbast@lockelord.com www.lockelord.com
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City Real Estate Advisors, Inc. is a full-service low income housing tax credit syndicator, operating in 43 states and one US Territory. To date, CREA has raised and placed over $3.1 billion in LIHTC equity. With offices in Indianapolis, Boston, Austin, Portland St. Petersburg and San Diego, we are dedicated to helping developers get the capital and resources they need to create quality affordable housing — while offering excellent investments to our investor clients..
Locke Lord’s Affordable Housing Group provides comprehensive legal services to those who develop, own, manage, finance, and oversee affordable housing across the country. We combine a keen understanding of the business with our legal experience to provide effective advice and service to our clients. Over the years, we have closed hundreds of transactions nationwide, addressed compliance and regulatory matters, advocated for change in legislation and rules, and helped to reposition troubled properties. Our team has the key to success in your affordable housing endeavors.
Coats Rose, P.C. Booth 19
Raymond James Tax Credit Funds Booth 48
Coats Rose, P.C. Barry J. Palmer, Director 9 Greenway Plaza, Suite 1100, Houston, Texas 77046 713.653.7395 + bpalmer@coatsrose.com www.coatsrose.com
Raymond James Tax Credit Funds Gary Robinson, VP- Director of Acquisitions 880 Carillon Pkwy, St. Petersburg, FL 33716 727.567.5014 + gary.k.robinson@raymondjames.com www.rjtcf.com
The Coats Rose Affordable Housing Group has extensive experience and is focused on the development of affordable housing and inner city revitalization. We represent for-profit developers, non-profit developers and public housing authorities providing comprehensive solutions that utilize a variety of financing techniques, including low income housing tax credits, CDBG Disaster Recovery Funding, private activity bonds, historic tax credits, HUD programs, investment syndication and conventional financing.
Raymond James Tax Credit Funds is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSERJF). Raymond James and its subsidiaries have been among the leading syndicators of affordable housing for more than four decades. To date, Raymond James Tax Credit Funds has raised more than $6 billion in equity for more than 1,700 tax credit projects in 46 states.
Hudson Housing Capital Booth 30 Hudson Housing Capital Sam Ganeshan / Joshua Lappen 630 Fifth Avenue 28th Floor, New York, NY 10111 212.218.4469 / 212.218.4446 sam.ganeshan@hudsonhousing.com / josh.lappen@hudsonhousing.com www.hudsonhousing.com Hudson Housing Capital provides customized financial services to residential real estate developers and investors. Owned and managed by professionals with decades of experience in the industry, Hudson builds its business on long-term relationships, extensive expertise, and the ability to craft transactions uniquely tailored to each customer’s needs. Founded in 1998, Hudson has syndicated over 408 low-income housing tax credit investments preserving or creating nearly 42,442 multi-family rental units. The firm has placed more than $3.8 Billion in equity. Our breadth of expertise encompasses desirable units for families, seniors, special needs, assisted living – virtually every type of property option offered in the market.
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RBC Capital Markets Booth 45 RBCCM Tax Credit Equity Group Dan Kierce, Director 216.875.6043 Daniel.Kierce@rbccm.com www.rbccm.com/tceg John Sabatier, VP RBCCM Housing Finance Group 727.502.3631 John.Sabatier@rbccm.com www.rbccm.com/housingfinancegroup RBC Capital Markets Tax Credit Equity and Housing Finance Groups provide equity capital by utilizing federal and state LIHTC and HTC programs, and offers a complete range of multifamily solutions to meet the needs of developers, investors, PHAs and HFAs. Our team of over 100 professionals has raised more than $6.5 billion of equity from inception through 2015 for over 900 affordable housing developments nationwide, and has also senior managed 148 negotiated multifamily bond transactions totaling $1.86 billion from 2008 through 2015. Texas Affo rd abl e Housing Magazine
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Shackelford, Bowen, McKinley & Norton, LLP Booth 15
Allied Orion Group Booth 11
Shackelford, Bowen, McKinley & Norton, LLP Sonia De Leon, Director of Marketing 9201 N. Central Expressway, Fourth Floor, Dallas, Texas 75231 214.780.1400 sdeleon@shackelfordlaw.net www.shackelfordlaw.net
Allied Orion Group Ian Douglas 2051 Greenhouse Road, Suite 300, Houston, TX 77084 713-622-5844 idouglas@allied-orion.com www.allied-orion.com
Shackelford, Bowen, McKinley & Norton, LLP is a Dallas based law firm with expertise in the following areas: corporate, aviation, tax, banking, securities, mergers and acquisitions, private equity, real estate, estate planning, wealth protection, entertainment and multifaceted litigation. The real estate practice group focuses on all aspects of real estate ownership, leasing, financing, and development of various real estate products, including affordable housing, multifamily, retail, office, mixed-use and golf resort properties.
Allied Orion Group is a full-service multifamily management, investment and development firm headquartered in Houston, Texas, with additional offices in Denver, Atlanta, Dallas and San Antonio. Allied Orion Group has acquired or developed more than 13,000 multi-family units with a total aggregate value of approximately $1.1 billion, and has a growing portfolio of 25,000 apartment homes under management throughout the nation. For more information, visit www.allied-orion.com.
Wells Fargo Booth 16
Berkadia Booth 53
Wells Fargo Leslie L. Houston, Community Lending and Investment, SVP and Office Manager 201 Main Street, Suite 300, Fort Worth, TX 76102 Office: 682.316.1327 Cell: 817.372.5349 Leslie.houston@wellsfargo.com
Berkadia Lloyd Griffin VP – Mortgage Banker 901 S MoPac Expressway Building Two, Suite 430 | Austin TX 78746 T: +1 (512) 226-8704 | M: +1 (512) 554-2134 ashley.gillespie@berkadia.com | www.berkadia.com |lloyd.griffin@berkadia.com a Berkshire Hathaway and Leucadia National Company
At Wells Fargo, we work hard to help our customers and communities succeed. As one of the nation’s largest affordable housing lenders, we have a deep understanding of the industry and use that knowledge to develop competitive financial solutions for your project. Whether you need access to capital markets, construction or permanent financing, credit enhancements, or equity through the sale of tax credits, Wells Fargo can help you reach your financing goals.
Alden Capital Partners Booth 20 For Developer Inquiries, please contact: Dana Mayo, Senior Managing Director & EVP, Alden Capital Partners (818) 380-6130 dana.mayo@aldentorch.com For Investor Inquiries, please contact: Jeff Weiss, Senior Managing Director & President, Alden Capital Partners (818) 380-6131 jeff.weiss@aldentorch.com Alden Capital Partners (“ACP”) is the syndication division of Alden Torch Financial, LLC (“Alden Torch”). ACP specializes in the syndication of Federal and State Low-Income Housing, Historic and Solar Tax Credits. Alden Capital Partners and its predecessor Hunt Capital Partners have successfully raised over $1 billion in low-income housing tax credit (LIHTC) equity. Alden Torch is a leader in the multifamily investment industry with a particular focus on affordable housing. Since its inception in the fall of 2010, Alden Torch has grown to over 150 employees, managing $12.8 billion in assets representing over 1,500 project partnerships encompassing over 200,000 units.
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Daniel Hazley Berkadia Regional Marketing Analyst 215-328-1877 daniel.hazley@berkadia.com
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Lisa Drake Berkadia Director - Strategy & Corporate Development 215-328-3001 lisa.drake@berkadia.com
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. CBRE Affordable Housing CBRE Affordable Housing Robert Sheppard, Managing Director, Vice Chairman 1918 Eighth Street, Suite 3200, Seattle, WA, 98101 +1 206 826 5800 affordablehousing@cbre.com www.cbre.com/affordablehousing; @CBREAffordable CBRE Affordable Housing specializes in investment sales, debt and structured finance, investment banking, and valuation services for clients in the affordable housing industry. Our team has deep experience, industry expertise, and proprietary market knowledge in affordable housing transactions, all resulting in the ability to create significant value for our clients.
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Shackelford, Bowen, McKinley & Norton, LLP Booth 15
Allied Orion Group Booth 11
Shackelford, Bowen, McKinley & Norton, LLP Sonia De Leon, Director of Marketing 9201 N. Central Expressway, Fourth Floor, Dallas, Texas 75231 214.780.1400 sdeleon@shackelfordlaw.net www.shackelfordlaw.net
Allied Orion Group Ian Douglas 2051 Greenhouse Road, Suite 300, Houston, TX 77084 713-622-5844 idouglas@allied-orion.com www.allied-orion.com
Shackelford, Bowen, McKinley & Norton, LLP is a Dallas based law firm with expertise in the following areas: corporate, aviation, tax, banking, securities, mergers and acquisitions, private equity, real estate, estate planning, wealth protection, entertainment and multifaceted litigation. The real estate practice group focuses on all aspects of real estate ownership, leasing, financing, and development of various real estate products, including affordable housing, multifamily, retail, office, mixed-use and golf resort properties.
Allied Orion Group is a full-service multifamily management, investment and development firm headquartered in Houston, Texas, with additional offices in Denver, Atlanta, Dallas and San Antonio. Allied Orion Group has acquired or developed more than 13,000 multi-family units with a total aggregate value of approximately $1.1 billion, and has a growing portfolio of 25,000 apartment homes under management throughout the nation. For more information, visit www.allied-orion.com.
Wells Fargo Booth 16
Berkadia Booth 53
Wells Fargo Leslie L. Houston, Community Lending and Investment, SVP and Office Manager 201 Main Street, Suite 300, Fort Worth, TX 76102 Office: 682.316.1327 Cell: 817.372.5349 Leslie.houston@wellsfargo.com
Berkadia Lloyd Griffin VP – Mortgage Banker 901 S MoPac Expressway Building Two, Suite 430 | Austin TX 78746 T: +1 (512) 226-8704 | M: +1 (512) 554-2134 ashley.gillespie@berkadia.com | www.berkadia.com |lloyd.griffin@berkadia.com a Berkshire Hathaway and Leucadia National Company
At Wells Fargo, we work hard to help our customers and communities succeed. As one of the nation’s largest affordable housing lenders, we have a deep understanding of the industry and use that knowledge to develop competitive financial solutions for your project. Whether you need access to capital markets, construction or permanent financing, credit enhancements, or equity through the sale of tax credits, Wells Fargo can help you reach your financing goals.
Alden Capital Partners Booth 20 For Developer Inquiries, please contact: Dana Mayo, Senior Managing Director & EVP, Alden Capital Partners (818) 380-6130 dana.mayo@aldentorch.com For Investor Inquiries, please contact: Jeff Weiss, Senior Managing Director & President, Alden Capital Partners (818) 380-6131 jeff.weiss@aldentorch.com Alden Capital Partners (“ACP”) is the syndication division of Alden Torch Financial, LLC (“Alden Torch”). ACP specializes in the syndication of Federal and State Low-Income Housing, Historic and Solar Tax Credits. Alden Capital Partners and its predecessor Hunt Capital Partners have successfully raised over $1 billion in low-income housing tax credit (LIHTC) equity. Alden Torch is a leader in the multifamily investment industry with a particular focus on affordable housing. Since its inception in the fall of 2010, Alden Torch has grown to over 150 employees, managing $12.8 billion in assets representing over 1,500 project partnerships encompassing over 200,000 units.
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Daniel Hazley Berkadia Regional Marketing Analyst 215-328-1877 daniel.hazley@berkadia.com
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Lisa Drake Berkadia Director - Strategy & Corporate Development 215-328-3001 lisa.drake@berkadia.com
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. CBRE Affordable Housing CBRE Affordable Housing Robert Sheppard, Managing Director, Vice Chairman 1918 Eighth Street, Suite 3200, Seattle, WA, 98101 +1 206 826 5800 affordablehousing@cbre.com www.cbre.com/affordablehousing; @CBREAffordable CBRE Affordable Housing specializes in investment sales, debt and structured finance, investment banking, and valuation services for clients in the affordable housing industry. Our team has deep experience, industry expertise, and proprietary market knowledge in affordable housing transactions, all resulting in the ability to create significant value for our clients.
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CenterPoint Energy Booth 26
Goodman Mgf. Co LP Booth 35
CenterPoint Energy Josh Tingler, Sales Staff Consultant 1111 Louisiana #924B, Houston, TX 77002 713.207.4320 + Joshua.Tingler@CenterPointEnergy.com www.centerpointenergy.com/Multi-Family
Goodman Manufacturing Company, L.P. Dick Rydzeski, Director National Accounts 5151 San Felipe, Suite 500, Houston, TX 77056 713.263.5249 + dick.rydzeski@goodmanmfg.com www.goodmanmfg.com
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Whether you are seeking to differentiate your property in the crowded multi-family market or to gain financial benefits from utility allowances, the Gas Advantage Multi-family Program can help your development reach its full potential. Natural gas appliances offer customer benefits such as long term cost savings, comfort, and reliability. Moreover, natural gas appliances can increase the marketability and value of any development.
We’ve been building Goodman® brand air conditioning and heating equipment since 1982. Given our more than 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
Churchill Stateside Group LLC Booth 50
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Churchill Stateside Group, LLC Churchill Stateside Group is a Q10 Capital Partner Clearwater |Atlanta| Chicago | Dallas | New Orleans Visit us at CSGfirst.com Follow CSG on LinkedIn Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction and permanent financing solutions. CSG has long-standing and successful investment relationships with numerous corporate investors, pension funds, and insurance companies. The company’s investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC, is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer.
Diamond Property Consultants Inc Diamond Property Consultants, Inc. 2113 Kings Pass, Heath, TX 75032 PH: (972) 475-9977 ext. 101 FX: (972) 771-8288 Mobile: (972) 672-7681 Email: jbeats@dpcservices.net Diamond Property Consultants, Inc. (DPC) has been serving the multi-family housing industry since 1999, creating positive business results for property owners, managers, developers and lenders. The DPC team of experienced professionals use their knowledge and expertise to benefit clients across the country through a portfolio of services including utility allowance studies, energy audits and Comprehensive Needs Assessments.
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Greystone Jeff Englund 1100 Abernathy NE, Suite 900, 500 Northpark, Atlanta, GA 30328 281-291-0185 Jeff.Englund@greyco.com www.greyco.com Greystone provides innovative financing solutions for affordable multifamily properties throughout the US. We are experts in creativity and execution across multiple lending platforms including FHA, Fannie Mae and Freddie Mac. Greystone is one of the top-ranked Multifamily Affordable Housing lenders in the country. We offer a broad variety of loan products - both taxable and tax-exempt - to facilitate the construction, acquisition, rehabilitation and repositioning of affordable multifamily housing across the country.
National Equity Fund Booth 44
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National Equity Fund, Inc. Rachel Rhodes, Regional Vice President 10 S. Riverside Plaza, Suite 1700, Chicago, IL 60606 312.697.8255 + rrhodes@nefinc.org www.nefinc.org National Equity Fund, Inc. is a non-profit Chicago-based affiliate of the Local Initiatives Support Corporation and one of the nation’s leading Low Income Housing Tax Credits syndicators. For nearly three decades, we have played an integral role in creating affordable housing options, revitalizing communities and strengthening local economies. Our investments total more than $12.4 billion in 2,406 LIHTC developments, which created 149,082 affordable homes for low-income families and individuals.
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CenterPoint Energy Booth 26
Goodman Mgf. Co LP Booth 35
CenterPoint Energy Josh Tingler, Sales Staff Consultant 1111 Louisiana #924B, Houston, TX 77002 713.207.4320 + Joshua.Tingler@CenterPointEnergy.com www.centerpointenergy.com/Multi-Family
Goodman Manufacturing Company, L.P. Dick Rydzeski, Director National Accounts 5151 San Felipe, Suite 500, Houston, TX 77056 713.263.5249 + dick.rydzeski@goodmanmfg.com www.goodmanmfg.com
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Whether you are seeking to differentiate your property in the crowded multi-family market or to gain financial benefits from utility allowances, the Gas Advantage Multi-family Program can help your development reach its full potential. Natural gas appliances offer customer benefits such as long term cost savings, comfort, and reliability. Moreover, natural gas appliances can increase the marketability and value of any development.
We’ve been building Goodman® brand air conditioning and heating equipment since 1982. Given our more than 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
Churchill Stateside Group LLC Booth 50
Greystone
Churchill Stateside Group, LLC Churchill Stateside Group is a Q10 Capital Partner Clearwater |Atlanta| Chicago | Dallas | New Orleans Visit us at CSGfirst.com Follow CSG on LinkedIn Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction and permanent financing solutions. CSG has long-standing and successful investment relationships with numerous corporate investors, pension funds, and insurance companies. The company’s investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC, is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer.
Diamond Property Consultants Inc Diamond Property Consultants, Inc. 2113 Kings Pass, Heath, TX 75032 PH: (972) 475-9977 ext. 101 FX: (972) 771-8288 Mobile: (972) 672-7681 Email: jbeats@dpcservices.net Diamond Property Consultants, Inc. (DPC) has been serving the multi-family housing industry since 1999, creating positive business results for property owners, managers, developers and lenders. The DPC team of experienced professionals use their knowledge and expertise to benefit clients across the country through a portfolio of services including utility allowance studies, energy audits and Comprehensive Needs Assessments.
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Greystone Jeff Englund 1100 Abernathy NE, Suite 900, 500 Northpark, Atlanta, GA 30328 281-291-0185 Jeff.Englund@greyco.com www.greyco.com Greystone provides innovative financing solutions for affordable multifamily properties throughout the US. We are experts in creativity and execution across multiple lending platforms including FHA, Fannie Mae and Freddie Mac. Greystone is one of the top-ranked Multifamily Affordable Housing lenders in the country. We offer a broad variety of loan products - both taxable and tax-exempt - to facilitate the construction, acquisition, rehabilitation and repositioning of affordable multifamily housing across the country.
National Equity Fund Booth 44
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National Equity Fund, Inc. Rachel Rhodes, Regional Vice President 10 S. Riverside Plaza, Suite 1700, Chicago, IL 60606 312.697.8255 + rrhodes@nefinc.org www.nefinc.org National Equity Fund, Inc. is a non-profit Chicago-based affiliate of the Local Initiatives Support Corporation and one of the nation’s leading Low Income Housing Tax Credits syndicators. For nearly three decades, we have played an integral role in creating affordable housing options, revitalizing communities and strengthening local economies. Our investments total more than $12.4 billion in 2,406 LIHTC developments, which created 149,082 affordable homes for low-income families and individuals.
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Nixon Peabody
Southeast Texas HFC
Nixon Peabody Monica Sussman Partner 799 9th Street, NW, Suite 500, Washington, DC 20001 T: 202-585-8833 E: msussman@nixonpeabody.com www.nixonpeabody.com
Southeast Texas Housing Finance Corporation Ron Williams, Executive Director 11111 S. Sam Houston Parkway East, Houston, TX 77089 281.484.4663 + rwilliams@sethfc.com www.sethfc.com
We understand the business of affordable housing and the challenges it can present our clients. After all, our attorneys, many of whom formerly worked at HUD in legal and policy positions, have helped shape housing industry policy for more than 40 years. With this deep experience and our robust industry network, we work with clients to anticipate issues, cut through complex regulations and creatively leverage public financing opportunities to keep their affordable housing investments moving forward.
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The Southeast Texas Housing Finance Corporation (SETH) was organized in October 1981 under the Housing Finance Corporation’s Act. Its members include 9 counties and 11 cities within region 6. SETH has issued over $1.6 billion in tax-exempt/taxable bonds for both single family homeownership and multifamily rental housing. SETH has owned 10 multifamily developments with over 3600 units and currently is in the ownership structure for 3 tax credit developments.
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State Tax Credit Exchange Booth 14 Novogradac & Company LLP Booth 29 George Littlejohn / Susan Wilson Phong Tran / Nick Hoehn / John Cole 11044 Research Blvd, Ste C-400, Austin, TX 78759 512.340.0420 / www.novoco.com george.littlejohn@novoco.com susan.wilson@novoco.com / phong.tran@novoco.com nick.hoehn@novoco.com / john.cole@novoco.com Novogradac & Company, LLP is a national certified public accounting and consulting firm with 15 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.
Red Stone Equity Partners Booth 23 Red Stone Equity Partners Drew Foster Director, Acquisitions 805 Third Avenue, 15th Floor, New York, NY 10022 (646) 690-6110 (Main) www.rsequity.com Red Stone Equity Partners, LLC (“Red Stone Equity”) is a leading real estate investment firm specializing in the syndication of Low-Income Housing Tax Credits and Renewable Energy Tax Credits to facilitate the development of affordable multifamily rental housing and renewable energy projects, respectively. Red Stone Equity builds upon long-lasting relationships with investors and developers as it acquires, structures, and provides long-term asset management services to its institutional clients.
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State Tax Credit Exchange Robin Delmer / Chris Martiner 3414 Peachtree Rd / Suite 825 Atlanta, GA 30326404.596.8019 rdelmer@gettaxcredits.com/cmartiner@gettaxcredits.com www.gettaxcredits.com STCE invests in projects that qualify for federal and state tax credit programs such as those creating alternative energy, providing low income housing or rehabilitating historic, iconic and abandoned buildings. Our clients support state and federally mandated worthy causes by investing with us through which they also receive low-risk tax credits which can be used to reduce multiple types of tax liabilities. Investing since 2005, STCE now owns a multi-state portfolio with hundreds of projects. Visit www. gettaxcredits.com to learn more.
Tidwell Group Booth 38 Tidwell Group, LLC Christopher N. Thomas, CPA Office Managing Partner – Austin Office 3102 Bee Cave Road, Suite 102, Austin, TX 78746 (512) 693-2181 Chris.Thomas@TidwellGroup.com Tidwell Group, LLC is a full-service accounting and consulting firm specializing in Real Estate, Tax Credits and Construction. We are dedicated to providing professional services that will exceed your expectations. Since 1981, we have serviced clients nationally and currently have offices in Birmingham, AL, Atlanta, GA and Austin, TX. Our team is committed to partnering with you and fostering a long-term relationship that helps you meet your goals from concept through implementation.
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Nixon Peabody
Southeast Texas HFC
Nixon Peabody Monica Sussman Partner 799 9th Street, NW, Suite 500, Washington, DC 20001 T: 202-585-8833 E: msussman@nixonpeabody.com www.nixonpeabody.com
Southeast Texas Housing Finance Corporation Ron Williams, Executive Director 11111 S. Sam Houston Parkway East, Houston, TX 77089 281.484.4663 + rwilliams@sethfc.com www.sethfc.com
We understand the business of affordable housing and the challenges it can present our clients. After all, our attorneys, many of whom formerly worked at HUD in legal and policy positions, have helped shape housing industry policy for more than 40 years. With this deep experience and our robust industry network, we work with clients to anticipate issues, cut through complex regulations and creatively leverage public financing opportunities to keep their affordable housing investments moving forward.
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The Southeast Texas Housing Finance Corporation (SETH) was organized in October 1981 under the Housing Finance Corporation’s Act. Its members include 9 counties and 11 cities within region 6. SETH has issued over $1.6 billion in tax-exempt/taxable bonds for both single family homeownership and multifamily rental housing. SETH has owned 10 multifamily developments with over 3600 units and currently is in the ownership structure for 3 tax credit developments.
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State Tax Credit Exchange Booth 14 Novogradac & Company LLP Booth 29 George Littlejohn / Susan Wilson Phong Tran / Nick Hoehn / John Cole 11044 Research Blvd, Ste C-400, Austin, TX 78759 512.340.0420 / www.novoco.com george.littlejohn@novoco.com susan.wilson@novoco.com / phong.tran@novoco.com nick.hoehn@novoco.com / john.cole@novoco.com Novogradac & Company, LLP is a national certified public accounting and consulting firm with 15 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.
Red Stone Equity Partners Booth 23 Red Stone Equity Partners Drew Foster Director, Acquisitions 805 Third Avenue, 15th Floor, New York, NY 10022 (646) 690-6110 (Main) www.rsequity.com Red Stone Equity Partners, LLC (“Red Stone Equity”) is a leading real estate investment firm specializing in the syndication of Low-Income Housing Tax Credits and Renewable Energy Tax Credits to facilitate the development of affordable multifamily rental housing and renewable energy projects, respectively. Red Stone Equity builds upon long-lasting relationships with investors and developers as it acquires, structures, and provides long-term asset management services to its institutional clients.
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State Tax Credit Exchange Robin Delmer / Chris Martiner 3414 Peachtree Rd / Suite 825 Atlanta, GA 30326404.596.8019 rdelmer@gettaxcredits.com/cmartiner@gettaxcredits.com www.gettaxcredits.com STCE invests in projects that qualify for federal and state tax credit programs such as those creating alternative energy, providing low income housing or rehabilitating historic, iconic and abandoned buildings. Our clients support state and federally mandated worthy causes by investing with us through which they also receive low-risk tax credits which can be used to reduce multiple types of tax liabilities. Investing since 2005, STCE now owns a multi-state portfolio with hundreds of projects. Visit www. gettaxcredits.com to learn more.
Tidwell Group Booth 38 Tidwell Group, LLC Christopher N. Thomas, CPA Office Managing Partner – Austin Office 3102 Bee Cave Road, Suite 102, Austin, TX 78746 (512) 693-2181 Chris.Thomas@TidwellGroup.com Tidwell Group, LLC is a full-service accounting and consulting firm specializing in Real Estate, Tax Credits and Construction. We are dedicated to providing professional services that will exceed your expectations. Since 1981, we have serviced clients nationally and currently have offices in Birmingham, AL, Atlanta, GA and Austin, TX. Our team is committed to partnering with you and fostering a long-term relationship that helps you meet your goals from concept through implementation.
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Ward, Getz & Associates LLP Booth 41 Ward, Getz & Associates, LLP Ryan Getz 2500 Tanglewilde, Suite 120, Houston, TX 77063 713.789.1900 rgetz@wga-llp.com www.wga-llp.com Ward, Getz & Associates, LLP (WGA) provides civil engineering consulting and design services for singleand multi-family developments. From moderate-density communities to high-density urban towers, our expertise and understanding of building systems analysis and permitting issues and concerns enables us to assist design teams with integrated site and building designs. Our team understands intimately how to design the project and we have demonstrated experience successfully working with approving agencies.
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Austin Affordable Housing Corporation Austin Affordable Housing Corporation Michael Gerber, President & CEO 1124 South IH 35, Austin, TX, 78704-2614 512.477.4488 + michaelgerber@hacanet.org http://www.hacanet.org Austin Affordable Housing Corporation (AAHC) was established in 2003 as a non-profit subsidiary of the Housing Authority of the City of Austin (HACA). AAHC works to preserve and increase the stock of affordable housing for low to moderate families in Austin as well as provide financial literacy and homeownership opportunities to HACA’s Pubic Housing and Housing Choice Voucher residents.
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ARA, A Newmark Company Booth 42 AEGON Booth 3 AEGON USA Realty Advisors, LLC Linda Hill, Vice President 505 Sansome Street, Suite 1700, San Francisco, CA 94111 415.983.5443 linda.hill@aegonusa.com www.aegonrealty.com Aegon USA Realty Advisors has been investing in tax credits since 1987. We have in-depth knowledge of affordable housing development and finance. We have invested in over 300 partnerships and deployed over $3 billion in capital, on behalf of affiliated and non-affiliated investors, helping to create more than 110,000 units of housing. We are proud to have many repeat clients and a reputation for integrity, responsiveness and timely execution.
Alliant Capital Booth 43 Alliant Capital LTD Dan Winters 501 Belle Hall Parkway, Suite 201, Mt. Pleasant, SC 29464 818.244.2448 | Daniel.winters@alliantcapital.com Alliantcapital.com Alliant Capital is a leading provider of affordable housing equity solutions with assets under management in excess of $6 billion. We offer a comprehensive range of services and products including multifamily debt, as well as tax credit syndication for the development and financing of affordable housing. With offices nationwide and innovative investment vehicles, we can service and maintain strong relationships with our borrowers, investors and developers. For more information, please visit www.alliantcapital.com.
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ARA, A Newmark Company Cliff McDaniel 1700 Post Oak Blvd, 2 BLVD Place, Suite 400 Houston, TX 77056 T 713.425.5404 | M 713.249.4509 mcdaniel@aranewmark.com http://aranewmark.com ARA Newmark’s Affordable Housing Group delivers advisory and brokerage services for multifamily properties financed using Low Income Housing Tax Credits, Tax Exempt Bonds, RD Debt and HUD rental/ financing subsidies. We understand that a successful exit strategy requires diligence and experience navigating through various partnership, regulatory, and subsidy agreements. With 75 years of experience in Affordable Housing, ARA Newmark has the tools necessary to execute efficient transactions while maximizing seller proceeds, for properties big and small. BOK Financial Booth 4 Pamela M Black, CCTS/SVP State Corporate Trust Manager- Texas BOK Financial Services provided by BOKF, NA 801 Cherry St, Suite 3325, Unit 27, Fort Worth, TX 76102 817-348-5797 | Phone 972-581-8913 | Fax 817-889-2889 | Cell pblack@bokf.com | Email pblack@bankoftexas.com | Email Bank of Texas is part of BOK Financial, one of the top 25 U.S.-based banks. It offers a wide range of services to the housing industry, including successor trustee, bond trustee, custody, paying agent and escrow agent from our Corporate Trust group and financing for affordable housing and community revitalization projects from our Community Development group. Bank of Texas offers strength and stability with a personal approach to develop customized client solutions.
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Ward, Getz & Associates LLP Booth 41 Ward, Getz & Associates, LLP Ryan Getz 2500 Tanglewilde, Suite 120, Houston, TX 77063 713.789.1900 rgetz@wga-llp.com www.wga-llp.com Ward, Getz & Associates, LLP (WGA) provides civil engineering consulting and design services for singleand multi-family developments. From moderate-density communities to high-density urban towers, our expertise and understanding of building systems analysis and permitting issues and concerns enables us to assist design teams with integrated site and building designs. Our team understands intimately how to design the project and we have demonstrated experience successfully working with approving agencies.
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Austin Affordable Housing Corporation Austin Affordable Housing Corporation Michael Gerber, President & CEO 1124 South IH 35, Austin, TX, 78704-2614 512.477.4488 + michaelgerber@hacanet.org http://www.hacanet.org Austin Affordable Housing Corporation (AAHC) was established in 2003 as a non-profit subsidiary of the Housing Authority of the City of Austin (HACA). AAHC works to preserve and increase the stock of affordable housing for low to moderate families in Austin as well as provide financial literacy and homeownership opportunities to HACA’s Pubic Housing and Housing Choice Voucher residents.
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ARA, A Newmark Company Booth 42 AEGON Booth 3 AEGON USA Realty Advisors, LLC Linda Hill, Vice President 505 Sansome Street, Suite 1700, San Francisco, CA 94111 415.983.5443 linda.hill@aegonusa.com www.aegonrealty.com Aegon USA Realty Advisors has been investing in tax credits since 1987. We have in-depth knowledge of affordable housing development and finance. We have invested in over 300 partnerships and deployed over $3 billion in capital, on behalf of affiliated and non-affiliated investors, helping to create more than 110,000 units of housing. We are proud to have many repeat clients and a reputation for integrity, responsiveness and timely execution.
Alliant Capital Booth 43 Alliant Capital LTD Dan Winters 501 Belle Hall Parkway, Suite 201, Mt. Pleasant, SC 29464 818.244.2448 | Daniel.winters@alliantcapital.com Alliantcapital.com Alliant Capital is a leading provider of affordable housing equity solutions with assets under management in excess of $6 billion. We offer a comprehensive range of services and products including multifamily debt, as well as tax credit syndication for the development and financing of affordable housing. With offices nationwide and innovative investment vehicles, we can service and maintain strong relationships with our borrowers, investors and developers. For more information, please visit www.alliantcapital.com.
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ARA, A Newmark Company Cliff McDaniel 1700 Post Oak Blvd, 2 BLVD Place, Suite 400 Houston, TX 77056 T 713.425.5404 | M 713.249.4509 mcdaniel@aranewmark.com http://aranewmark.com ARA Newmark’s Affordable Housing Group delivers advisory and brokerage services for multifamily properties financed using Low Income Housing Tax Credits, Tax Exempt Bonds, RD Debt and HUD rental/ financing subsidies. We understand that a successful exit strategy requires diligence and experience navigating through various partnership, regulatory, and subsidy agreements. With 75 years of experience in Affordable Housing, ARA Newmark has the tools necessary to execute efficient transactions while maximizing seller proceeds, for properties big and small. BOK Financial Booth 4 Pamela M Black, CCTS/SVP State Corporate Trust Manager- Texas BOK Financial Services provided by BOKF, NA 801 Cherry St, Suite 3325, Unit 27, Fort Worth, TX 76102 817-348-5797 | Phone 972-581-8913 | Fax 817-889-2889 | Cell pblack@bokf.com | Email pblack@bankoftexas.com | Email Bank of Texas is part of BOK Financial, one of the top 25 U.S.-based banks. It offers a wide range of services to the housing industry, including successor trustee, bond trustee, custody, paying agent and escrow agent from our Corporate Trust group and financing for affordable housing and community revitalization projects from our Community Development group. Bank of Texas offers strength and stability with a personal approach to develop customized client solutions.
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Bellwether Enterprise Real Estate Capital Booth 2
Boston Financial Booth 12
Enterprise & Bellwether Enterprise Aron Weisner / Kevin Bowen 15660 N. Dallas Parkway, Suite 850, Dallas, TX 75248 469.729.7681 aweisner@enterprisecommunity.com / kbowen@bwecap.com www.EnterpriseCommunity.com / www.BellwetherEnterprise.com
Boston Financial Investment Management Thomas Paramore, Senior Vice President, Equity Production 312 S. Fourth Street, Suite 700, Louisville, KY 40202 502-212-3822 Thomas.Paramore@bfim.com www.bfim.com
Enterprise and Bellwether Enterprise: the leading national team putting capital to work for communities across the country. From Low-Income Housing Tax Credit and New Markets Tax Credit equity, to longterm conventional and affordable housing products, we are the industry’s most competitive and creative capital provider and servicer. That’s capital on a mission.
For more than 40 years, Boston Financial has been a leader in the affordable housing industry and an innovator in equity syndication and portfolio and asset management. Boston Financial has over $10 billion of syndicated equity invested in more than 2,000 properties. Currently, our portfolio consists of approximately $8 billion of LIHTC equity investments comprising over 1,300 properties and 140,000 units.
Bonneville Multifamily Capital Booth 9
Capstone Consulting & Compliance Services Booth 8
Bonneville Multifamily Capital Chris Mullen 111 E. Broadway, Suite 200, Salt Lake City, Utah 84111 801.323.1076 + cmullen@bmcslc.com www.bmcslc.com
Capstone Consulting & Compliance Services D. Michael Boone, Jr., CPM 210 Barton Springs Road, Ste 300 | Austin, TX 78704 512-646-6700 office | 512-492-7022 direct | 512-646-6798 fax mike.boone@capstonemanagement.com | www.capstonemanagement.com
Bonneville Multifamily Capital is a national lender with a reputation for personal service. We focus on HUD/FHA and Multifamily USDA loans and are the largest originator of USDA 538 loans in the country with over 300 closings. These federally backed loans are an excellent source of low-interest rate, high LTV, long amortization, for rural multifamily housing projects.
Serving our peers in the affordable housing industry, Capstone provides both remote and onsite compliance services customized to our clients’ needs. Our proprietary processes have proven to establish solid on-site compliance systems, reduce risk of lost credits and improve the industry reputation of our clients.
Boston Capital Booth 37 Boston Capital Corporation Tom Dixon, Vice President One Boston Place, Suite 2100 Boston, MA 02108 Tel: 310-339-4376 Email: tdixon@bostoncapital.com Boston Capital is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing and equity investment in market rate apartment communities. Boston Capital’s holdings include 1,855 multifamily apartment properties in 49 states and the District of Columbia, constituting nearly 130,000 apartment units with a portfolio development cost in excess of $17.5 billion. Boston Capital is one of the largest owners/investors of apartment properties in the United States. Visit www.bostoncapital.com
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CBRE Booth 40 CBRE | Capital Markets Chad Ricks | Senior Vice President Debt & Structured Finance 2100 McKinney Ave STE 700 | Dallas, TX 75201 T 214.979.6551 | F 214.979.6396 | C 214.862.1237 chad.ricks@cbre.com | www.cbre.com/chad.ricks CBRE is the world’s premier, full-service real estate services company. Operating globally, the firm holds a leadership position in virtually all of the world’s key business centers. CBRE Capital Markets combines the top property sales, finance and investment banking businesses into a single, fully integrated global service offering. CBRE is the recognized worldwide leader in advising clients on the purchase and sale of income-producing properties, debt and structured finance, and entitylevel consultancy and execution.
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Bellwether Enterprise Real Estate Capital Booth 2
Boston Financial Booth 12
Enterprise & Bellwether Enterprise Aron Weisner / Kevin Bowen 15660 N. Dallas Parkway, Suite 850, Dallas, TX 75248 469.729.7681 aweisner@enterprisecommunity.com / kbowen@bwecap.com www.EnterpriseCommunity.com / www.BellwetherEnterprise.com
Boston Financial Investment Management Thomas Paramore, Senior Vice President, Equity Production 312 S. Fourth Street, Suite 700, Louisville, KY 40202 502-212-3822 Thomas.Paramore@bfim.com www.bfim.com
Enterprise and Bellwether Enterprise: the leading national team putting capital to work for communities across the country. From Low-Income Housing Tax Credit and New Markets Tax Credit equity, to longterm conventional and affordable housing products, we are the industry’s most competitive and creative capital provider and servicer. That’s capital on a mission.
For more than 40 years, Boston Financial has been a leader in the affordable housing industry and an innovator in equity syndication and portfolio and asset management. Boston Financial has over $10 billion of syndicated equity invested in more than 2,000 properties. Currently, our portfolio consists of approximately $8 billion of LIHTC equity investments comprising over 1,300 properties and 140,000 units.
Bonneville Multifamily Capital Booth 9
Capstone Consulting & Compliance Services Booth 8
Bonneville Multifamily Capital Chris Mullen 111 E. Broadway, Suite 200, Salt Lake City, Utah 84111 801.323.1076 + cmullen@bmcslc.com www.bmcslc.com
Capstone Consulting & Compliance Services D. Michael Boone, Jr., CPM 210 Barton Springs Road, Ste 300 | Austin, TX 78704 512-646-6700 office | 512-492-7022 direct | 512-646-6798 fax mike.boone@capstonemanagement.com | www.capstonemanagement.com
Bonneville Multifamily Capital is a national lender with a reputation for personal service. We focus on HUD/FHA and Multifamily USDA loans and are the largest originator of USDA 538 loans in the country with over 300 closings. These federally backed loans are an excellent source of low-interest rate, high LTV, long amortization, for rural multifamily housing projects.
Serving our peers in the affordable housing industry, Capstone provides both remote and onsite compliance services customized to our clients’ needs. Our proprietary processes have proven to establish solid on-site compliance systems, reduce risk of lost credits and improve the industry reputation of our clients.
Boston Capital Booth 37 Boston Capital Corporation Tom Dixon, Vice President One Boston Place, Suite 2100 Boston, MA 02108 Tel: 310-339-4376 Email: tdixon@bostoncapital.com Boston Capital is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing and equity investment in market rate apartment communities. Boston Capital’s holdings include 1,855 multifamily apartment properties in 49 states and the District of Columbia, constituting nearly 130,000 apartment units with a portfolio development cost in excess of $17.5 billion. Boston Capital is one of the largest owners/investors of apartment properties in the United States. Visit www.bostoncapital.com
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CBRE Booth 40 CBRE | Capital Markets Chad Ricks | Senior Vice President Debt & Structured Finance 2100 McKinney Ave STE 700 | Dallas, TX 75201 T 214.979.6551 | F 214.979.6396 | C 214.862.1237 chad.ricks@cbre.com | www.cbre.com/chad.ricks CBRE is the world’s premier, full-service real estate services company. Operating globally, the firm holds a leadership position in virtually all of the world’s key business centers. CBRE Capital Markets combines the top property sales, finance and investment banking businesses into a single, fully integrated global service offering. CBRE is the recognized worldwide leader in advising clients on the purchase and sale of income-producing properties, debt and structured finance, and entitylevel consultancy and execution.
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Dauby O’Connor & Zaleski, LLC Booth 65
First Sterling Financial Inc. Booth 5
Dauby O’Connor & Zaleski, LLC Blake Schrader 501 Congressional Blvd, Suite 300, Carmel, IN 46032 317.848.5700 + bschrader@doz.net www.doz.net
First Sterling Financial, Inc. Victor J. Sostar, Executive Vice President 111 Great Neck Road, Suite 500, Great Neck, NY 11021 Phone: (516) 869-7420 vsostar@firststerling.com www.firststerling.com
Dauby O’Connor & Zaleski, LLC (DOZ) provides accounting, consulting, and tax services to participants in multi-family housing communities. DOZ is well versed in projects financed through HUD, RD, Tax-Exempt Bonds, and Low Income Housing Tax Credits with a client base that spans the United States. Our intense focus in the multi-family housing arena, coupled with operating from one central location, differentiates DOZ from other national firms. The result is a client experience that stands alone.
FDI Property Management Services Inc. Booth 13 FDI PROPERTY MANAGEMENT SERVICES, INC Diane Kinney, Principal and CEO 26303 Oakridge Drive Spring, TX 77380 dkinney@fdimgt.com www.fdimgt.com Founded in 2005, FDI Property Management Services, Inc. is a full service, multifamily real estate company specializing in affordable housing. FDI delivers a broad scope of complex services focused on the individual needs of each asset and client. Our team of experts provide decades of experience in Acquisition Rehab, New Construction, Marketing and Leasing, Compliance Services, and Stabilization.
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First Sterling is a leading syndicator, asset manager, and equity provider for affordable housing for the full range of transactions nationwide. First Sterling’s 35 years of experience and personalized services have resulted in long term relationships, successful partnerships, and a legacy of affordable housing properties nationwide. Galaxy Builders LTD Booth 27 Galaxy Builders, Ltd. Neilesh Verma, President 4729 College Park, San Antonio, TX 78249 210.493.0550 + neileshv@galaxybuilders.com www.galaxybuilders.com For over two decades, Galaxy Builders, Ltd., has built its reputation on its pursuit of excellence, commitment, and trust. Based in San Antonio, Texas, Galaxy is a leading general contracting firm specializing in multifamily construction throughout the Southwest. Galaxy Builders’ award-winning management teams have built more than 20,000 units representing more than $1 billion worth of projects throughout the region with a wide range of finish levels. From large-scale senior living to rehabilitating affordable housing, the company dedicates itself to timely, budget-aware delivery. Follow us on Twitter @GalaxyBuildersL Like us on Facebook at Galaxy Builders Ltd. Gershman Mortgage Booth 7
Federal Home Loan Bank of Dallas Booth 28 Federal Home Loan Bank of Dallas Steve Matkovich, Senior Affordable Housing Analyst; Bruce Hatton, VP, AHP Manager 8500 Freeport Pkwy. South, Irving, TX 75063 800.362.2944 + ahp@fhlb.com www.fhlb.com Since 1932, the Federal Home Loan Bank of Dallas has supported housing and community development across Arkansas, Louisiana, Mississippi, New Mexico, and Texas. We are one of 11 Banks in the FHLBank System, providing competitively priced loans and other credit products to our member cooperative of approximately 850 members and associated institutions. As of December 31, 2015, FHLB Dallas had total assets of 42.1 billion. For more information, please visit fhlb.com. You may also follow us on Facebook at facebook.com/fhlbdallas and Twitter @FHLBDallas.
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Gershman Mortgage Chris Will, Vice President 7 N Bemiston, Clayton, MO 63105 314-854-9513 cwill@gershman.com www.gershman.com Adam Hendin, Vice President 7 North Bemiston, Clayton, MO 63105 314-889-0694 ahendin@gershman.com www.gershman.com
Ron Weis, Vice President 1557 E. Primrose St., Suite B100, Springfield, MO 65804 417-881-4739 rweis@gershman.com www.gershman.com
Gershman Mortgage is a multifamily and healthcare lender providing financing for affordable housing developments (including elderly), market rate projects and healthcare facilities. We provide financing for profit and non-profit Borrowers. We’re one of the largest FHA-approved MAP Lenders in the Country and also provide conventional financing options. We are located in the heart of Clayton’s business district at 7 North Bemiston Avenue, Clayton, MO 63105. Contact us at 314-889-0600 or visit our website at www.gershman.com.
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Dauby O’Connor & Zaleski, LLC Booth 65
First Sterling Financial Inc. Booth 5
Dauby O’Connor & Zaleski, LLC Blake Schrader 501 Congressional Blvd, Suite 300, Carmel, IN 46032 317.848.5700 + bschrader@doz.net www.doz.net
First Sterling Financial, Inc. Victor J. Sostar, Executive Vice President 111 Great Neck Road, Suite 500, Great Neck, NY 11021 Phone: (516) 869-7420 vsostar@firststerling.com www.firststerling.com
Dauby O’Connor & Zaleski, LLC (DOZ) provides accounting, consulting, and tax services to participants in multi-family housing communities. DOZ is well versed in projects financed through HUD, RD, Tax-Exempt Bonds, and Low Income Housing Tax Credits with a client base that spans the United States. Our intense focus in the multi-family housing arena, coupled with operating from one central location, differentiates DOZ from other national firms. The result is a client experience that stands alone.
FDI Property Management Services Inc. Booth 13 FDI PROPERTY MANAGEMENT SERVICES, INC Diane Kinney, Principal and CEO 26303 Oakridge Drive Spring, TX 77380 dkinney@fdimgt.com www.fdimgt.com Founded in 2005, FDI Property Management Services, Inc. is a full service, multifamily real estate company specializing in affordable housing. FDI delivers a broad scope of complex services focused on the individual needs of each asset and client. Our team of experts provide decades of experience in Acquisition Rehab, New Construction, Marketing and Leasing, Compliance Services, and Stabilization.
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First Sterling is a leading syndicator, asset manager, and equity provider for affordable housing for the full range of transactions nationwide. First Sterling’s 35 years of experience and personalized services have resulted in long term relationships, successful partnerships, and a legacy of affordable housing properties nationwide. Galaxy Builders LTD Booth 27 Galaxy Builders, Ltd. Neilesh Verma, President 4729 College Park, San Antonio, TX 78249 210.493.0550 + neileshv@galaxybuilders.com www.galaxybuilders.com For over two decades, Galaxy Builders, Ltd., has built its reputation on its pursuit of excellence, commitment, and trust. Based in San Antonio, Texas, Galaxy is a leading general contracting firm specializing in multifamily construction throughout the Southwest. Galaxy Builders’ award-winning management teams have built more than 20,000 units representing more than $1 billion worth of projects throughout the region with a wide range of finish levels. From large-scale senior living to rehabilitating affordable housing, the company dedicates itself to timely, budget-aware delivery. Follow us on Twitter @GalaxyBuildersL Like us on Facebook at Galaxy Builders Ltd. Gershman Mortgage Booth 7
Federal Home Loan Bank of Dallas Booth 28 Federal Home Loan Bank of Dallas Steve Matkovich, Senior Affordable Housing Analyst; Bruce Hatton, VP, AHP Manager 8500 Freeport Pkwy. South, Irving, TX 75063 800.362.2944 + ahp@fhlb.com www.fhlb.com Since 1932, the Federal Home Loan Bank of Dallas has supported housing and community development across Arkansas, Louisiana, Mississippi, New Mexico, and Texas. We are one of 11 Banks in the FHLBank System, providing competitively priced loans and other credit products to our member cooperative of approximately 850 members and associated institutions. As of December 31, 2015, FHLB Dallas had total assets of 42.1 billion. For more information, please visit fhlb.com. You may also follow us on Facebook at facebook.com/fhlbdallas and Twitter @FHLBDallas.
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Gershman Mortgage Chris Will, Vice President 7 N Bemiston, Clayton, MO 63105 314-854-9513 cwill@gershman.com www.gershman.com Adam Hendin, Vice President 7 North Bemiston, Clayton, MO 63105 314-889-0694 ahendin@gershman.com www.gershman.com
Ron Weis, Vice President 1557 E. Primrose St., Suite B100, Springfield, MO 65804 417-881-4739 rweis@gershman.com www.gershman.com
Gershman Mortgage is a multifamily and healthcare lender providing financing for affordable housing developments (including elderly), market rate projects and healthcare facilities. We provide financing for profit and non-profit Borrowers. We’re one of the largest FHA-approved MAP Lenders in the Country and also provide conventional financing options. We are located in the heart of Clayton’s business district at 7 North Bemiston Avenue, Clayton, MO 63105. Contact us at 314-889-0600 or visit our website at www.gershman.com.
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ICI Constrction, Inc. Booth 36
KeyBank Booth 24
ICI Construction, Inc. Leia Sidwa Director of Marketing 5057 Keller Springs Road, Suite 200, Addison, TX 75001 Cell: 214.797.2663 lsidwa@icidallas.com
KeyBank Real Estate Capital Irena Edwards 801.297.5802 OFFICE // Irena_R_Edwards@keybank.com 36 S. State Street, Suite 2506 // Salt Lake City, Utah 84111
ICI Construction is a 30 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 preliminary 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.
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KeyBank Community Development Lending and Investment provides capital solutions for affordable housing and community development projects in urban and rural communities across all 50 states. As one of the nation’s premier affordable housing capital providers, we offer one-stop-shop debt and equity capabilities that bring together balance sheet, equity and a variety of permanent loan offerings. KeyBank is a Fannie Mae DUS Lender, a Freddie Mac Seller/Servicer and TAH Lender, and an FHA MAP and 223(f) LIHTC Pilot Lender. Pavilion Construction Booth 25
Johnson Petrov, LLP Andrew P. Johnson, III 2929 Allen Parkway, Suite 3150, Houston, Texas 77019 713-489-8977 OFFICE AJohnson@JohnsonPetrov.com
Pavilion Construction, LLC Brian Gerritz, President 2511 Broadbent Pkwy NE, Suite A, Albuquerque, NM 87107 (505) 346-0085 Office (503) 704-4314 Mobile bgerritz@pavilionconstruction.com www.pavilionconstruction.com
Johnson Petrov, LLP (JP) is a dynamic Houston-based law firm, a leader in multifamily finance. JP attorneys created one of the first public-private partnerships for multifamily housing in the United States and is now closing innovative P-3’s with cities and HFC’s. JP attorneys have represented developers, nonprofit owners and issuers in numerous tax credit (4% and 9%), multifamily, nonprofit and market rate financings. JP continues to lead the industry in financing alternatives for its clients.
At Pavilion Construction we’re committed to building your vision. With extensive experience as a General Contractor for a diverse mix of residential and light commercial construction projects, from the Rockies west, our expertise results in enduring assets that exceed your expectations.
Jones Walker LLP Booth 21 Jones Walker LLP Rick A. Lazio, Partner and Head of Affordable Housing Team 590 Madison Ave, 8th Floor, New York, NY 10022 212.759.7025 + rlazio@joneswalker.com or Antoinette M. Jackson, Partner 1001 Fannin, Suite 2450, Houston, TX 77002 713.437.1888 + tjackson@joneswalker.com www.joneswalker.com For more than four decades, Jones Walker LLP has helped organizations and individuals acquire, develop, finance, and build a broad range of affordable housing; workforce, senior, student, and military housing; and mixed use projects across the country. In this complex environment, our Affordable Housing team is able to offer clients the deep industry knowledge, full-spectrum legal counsel, and firsthand government experience required to provide creative, practical solutions.
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Phase Engineering Booth 10 Phase Engineering, Inc. Tracy Watson, EP 5524 Cornish Street Houston, TX 77007 (210) 997-4056 Tracy@PhaseEngineering.com www.PhaseEngineering.com Phase Engineering, Inc. successfully partners with many TDHCA tax credit and HOME applicants on their submissions to receive the required NEPA Environmental Clearance. Phase Engineering, Inc. is an environmental consulting firm that was founded in 1993. Their licensed staff of environmental professionals annually perform over 1,000 Phase I Environmental Site Assessments (ESA), Phase II ESAs, asbestos and lead inspections, property condition assessments, storm water plans, wetland delineations and related environmental services nationwide.
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ICI Constrction, Inc. Booth 36
KeyBank Booth 24
ICI Construction, Inc. Leia Sidwa Director of Marketing 5057 Keller Springs Road, Suite 200, Addison, TX 75001 Cell: 214.797.2663 lsidwa@icidallas.com
KeyBank Real Estate Capital Irena Edwards 801.297.5802 OFFICE // Irena_R_Edwards@keybank.com 36 S. State Street, Suite 2506 // Salt Lake City, Utah 84111
ICI Construction is a 30 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 preliminary 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.
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KeyBank Community Development Lending and Investment provides capital solutions for affordable housing and community development projects in urban and rural communities across all 50 states. As one of the nation’s premier affordable housing capital providers, we offer one-stop-shop debt and equity capabilities that bring together balance sheet, equity and a variety of permanent loan offerings. KeyBank is a Fannie Mae DUS Lender, a Freddie Mac Seller/Servicer and TAH Lender, and an FHA MAP and 223(f) LIHTC Pilot Lender. Pavilion Construction Booth 25
Johnson Petrov, LLP Andrew P. Johnson, III 2929 Allen Parkway, Suite 3150, Houston, Texas 77019 713-489-8977 OFFICE AJohnson@JohnsonPetrov.com
Pavilion Construction, LLC Brian Gerritz, President 2511 Broadbent Pkwy NE, Suite A, Albuquerque, NM 87107 (505) 346-0085 Office (503) 704-4314 Mobile bgerritz@pavilionconstruction.com www.pavilionconstruction.com
Johnson Petrov, LLP (JP) is a dynamic Houston-based law firm, a leader in multifamily finance. JP attorneys created one of the first public-private partnerships for multifamily housing in the United States and is now closing innovative P-3’s with cities and HFC’s. JP attorneys have represented developers, nonprofit owners and issuers in numerous tax credit (4% and 9%), multifamily, nonprofit and market rate financings. JP continues to lead the industry in financing alternatives for its clients.
At Pavilion Construction we’re committed to building your vision. With extensive experience as a General Contractor for a diverse mix of residential and light commercial construction projects, from the Rockies west, our expertise results in enduring assets that exceed your expectations.
Jones Walker LLP Booth 21 Jones Walker LLP Rick A. Lazio, Partner and Head of Affordable Housing Team 590 Madison Ave, 8th Floor, New York, NY 10022 212.759.7025 + rlazio@joneswalker.com or Antoinette M. Jackson, Partner 1001 Fannin, Suite 2450, Houston, TX 77002 713.437.1888 + tjackson@joneswalker.com www.joneswalker.com For more than four decades, Jones Walker LLP has helped organizations and individuals acquire, develop, finance, and build a broad range of affordable housing; workforce, senior, student, and military housing; and mixed use projects across the country. In this complex environment, our Affordable Housing team is able to offer clients the deep industry knowledge, full-spectrum legal counsel, and firsthand government experience required to provide creative, practical solutions.
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Phase Engineering Booth 10 Phase Engineering, Inc. Tracy Watson, EP 5524 Cornish Street Houston, TX 77007 (210) 997-4056 Tracy@PhaseEngineering.com www.PhaseEngineering.com Phase Engineering, Inc. successfully partners with many TDHCA tax credit and HOME applicants on their submissions to receive the required NEPA Environmental Clearance. Phase Engineering, Inc. is an environmental consulting firm that was founded in 1993. Their licensed staff of environmental professionals annually perform over 1,000 Phase I Environmental Site Assessments (ESA), Phase II ESAs, asbestos and lead inspections, property condition assessments, storm water plans, wetland delineations and related environmental services nationwide.
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National Church Residences Christina G. Sanchez, Vice President, Business and Leadership Development 18838 Stone Oak Parkway, Suite 206, San Antonio, Texas 78258 210.680.9199 email: csanchez@nationalchurchresidences.org www.nationalchurchresidences.org National Church Residences is the nation’s largest not-for-profit provider of affordable senior housing, with 340 communities in 28 states and Puerto Rico. Operating 27 properties in Texas, the organization is a leading provider of third-party property management. Our proven management protocol results in costeffective marketing, superior resident retention and timely financial reporting. We also are interested in acquiring senior properties for preservation through our $50 million Affordable Housing Investment Fund. For more information, visit www.nationalchurchresidences.org. PNC Real Estate Booth 51 PNC Real Estate Nora Keane, Assistant Vice President 2107 New York Avenue, Austin, Texas 78702 PNC Real Estate offers one of the industry’s most comprehensive arrays of financing solutions to owners, operators, developers and investors nationwide. PNC provides Tax Credit Capital solutions, as well as Freddie Mac, Fannie Mae and FHA financing for the predevelopment, construction, interim and permanent financing of affordable and conventional multifamily properties. PNC combines LIHTC and HTC equity with our agency and balance sheet debt solutions to deliver seamless financing options for the construction or redevelopment of multifamily housing. Regions Bank Graham Dozier Real Estate Capital Markets (404) 279-7462 Graham.dozier@regions.com
Regions Bank is committed to strengthening our communities by providing financial solutions to developers of affordable housing properties. Our Community Investment Capital and Real Estate Capital Markets groups provide a comprehensive range of products to meet the needs of the affordable housing industry, from direct LIHTC equity investments to construction and bridge financing, as well as a full array of permanent financing options through Freddie Mac, HUD, and FNMA. Let us show you how Regions can help you move your business forward. Rinnai America Corporation Rinnai America Corporation 103 International Drive Peachtree City, GA 30269 David Payne, Central Regional Builder Manager 713.494.0612 – dpayne@rinni.us www.rinnai.us At Rinnai, we are fiercely committed to delivering nothing less than our absolute best. Our passion for constant improvement drives us to create incredibly innovative water heating and home heating gas appliances for both residential and commercial applications. As a result, our products have continued to lead the industry. In fact, sophisticated, efficient performance makes Rinnai Tankless Water Heaters some of the best tankless water heaters on the market.
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National Church Residences Booth 39
David Payne Community Investment Capital (601) 790-8269 Davidn.payne@regions.com
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Texas Affor dable Housi ng M agazi ne
Ryan Companies US, Inc. David Knoll, Director of Development 111 Congress Avenue, Suite 1850, Austin, TX 78701 512.493.5908 + david.knoll@ryancompanies.com www.ryancompanies.com Ryan Companies is a leading national commercial real estate firm offering integrated design-build, development and real estate management services to customers. Over the past 78 years, Ryan has been involved in a variety of projects across the United States. Our experience spans the full range of commercial product types and includes a significant portfolio of market rate and affordable apartment developments.
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Sonoma Housing Advisors Booth 54 Sonoma Housing Advisors, LLC Bill and Lisa Fisher 16812 Dallas Parkway, Dallas, Texas 75248 214.608.7201 + bill.fisher@sonomaadvisors.com + lisa.fisher@sonomaadvisors.com www.sonomaadvisors.com Sonoma Housing Advisors’ leadership team has more than 20 years of experience in the development and financing of high-quality apartments and townhomes. Our team members have been directly involved in the application process, development, financing and/or construction of over 9,500 living units since 1996. We have received HOME, CDBG, 9% or 4% housing tax credit awards every year since 1996. Partner with Sonoma Housing Advisors to achieve winning results. www.sonomaadvisors.com 214.608.7201 SVN AFFORDABLE | Levental Realty SVN AFFORDABLE | Levental Realty Gene Levental | Managing Director 4755 Lake Forest Drive, Suite 220 | Cincinnati, Ohio 45242 (513) 321-7589 | gene.levental@svn.com www.svn-ahg.com SVN AFFORDABLE | Levental Realty is a commercial real estate brokerage, practicing in the niche market of Affordable Housing. We focus solely on valuing, marketing and selling Project-Based Section 8 and Section 42 deals, successfully trading 4,000 - 5,000 units of Affordable housing a year. Our list of projects sold ranges from California to New York and involves all types of HUD transactions, including Section 236 and 202, Rural Development, Mark-to-Market unwinding, and LIHTC deals.
Wallace Architects LLC Booth 6 Wallace Architects, LLC Mike Kleffner / Randy Porter 302 Campusview Dr., Suite 208, Columbia, MO 65201 573.256.7200 www.wallacearchitects.com Wallace Architects, LLC is one of the largest and most active Architectural firms in the Midwest specializing in senior and multi-family affordable housing developments. Wallace Architects has extensive experience in new construction and the renovation/rehabilitation of existing and historic properties throughout the South and Midwest parts of the United States, having active LIHTC projects in nearly twenty states. Please visit www.wallacearchitects.com to learn more about our work, our process and our team. Texas Affo rd abl e Housing Magazine
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National Church Residences Christina G. Sanchez, Vice President, Business and Leadership Development 18838 Stone Oak Parkway, Suite 206, San Antonio, Texas 78258 210.680.9199 email: csanchez@nationalchurchresidences.org www.nationalchurchresidences.org National Church Residences is the nation’s largest not-for-profit provider of affordable senior housing, with 340 communities in 28 states and Puerto Rico. Operating 27 properties in Texas, the organization is a leading provider of third-party property management. Our proven management protocol results in costeffective marketing, superior resident retention and timely financial reporting. We also are interested in acquiring senior properties for preservation through our $50 million Affordable Housing Investment Fund. For more information, visit www.nationalchurchresidences.org. PNC Real Estate Booth 51 PNC Real Estate Nora Keane, Assistant Vice President 2107 New York Avenue, Austin, Texas 78702 PNC Real Estate offers one of the industry’s most comprehensive arrays of financing solutions to owners, operators, developers and investors nationwide. PNC provides Tax Credit Capital solutions, as well as Freddie Mac, Fannie Mae and FHA financing for the predevelopment, construction, interim and permanent financing of affordable and conventional multifamily properties. PNC combines LIHTC and HTC equity with our agency and balance sheet debt solutions to deliver seamless financing options for the construction or redevelopment of multifamily housing. Regions Bank Graham Dozier Real Estate Capital Markets (404) 279-7462 Graham.dozier@regions.com
Regions Bank is committed to strengthening our communities by providing financial solutions to developers of affordable housing properties. Our Community Investment Capital and Real Estate Capital Markets groups provide a comprehensive range of products to meet the needs of the affordable housing industry, from direct LIHTC equity investments to construction and bridge financing, as well as a full array of permanent financing options through Freddie Mac, HUD, and FNMA. Let us show you how Regions can help you move your business forward. Rinnai America Corporation Rinnai America Corporation 103 International Drive Peachtree City, GA 30269 David Payne, Central Regional Builder Manager 713.494.0612 – dpayne@rinni.us www.rinnai.us At Rinnai, we are fiercely committed to delivering nothing less than our absolute best. Our passion for constant improvement drives us to create incredibly innovative water heating and home heating gas appliances for both residential and commercial applications. As a result, our products have continued to lead the industry. In fact, sophisticated, efficient performance makes Rinnai Tankless Water Heaters some of the best tankless water heaters on the market.
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National Church Residences Booth 39
David Payne Community Investment Capital (601) 790-8269 Davidn.payne@regions.com
E x h i b i t o r
Texas Affor dable Housi ng M agazi ne
Ryan Companies US, Inc. David Knoll, Director of Development 111 Congress Avenue, Suite 1850, Austin, TX 78701 512.493.5908 + david.knoll@ryancompanies.com www.ryancompanies.com Ryan Companies is a leading national commercial real estate firm offering integrated design-build, development and real estate management services to customers. Over the past 78 years, Ryan has been involved in a variety of projects across the United States. Our experience spans the full range of commercial product types and includes a significant portfolio of market rate and affordable apartment developments.
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Sonoma Housing Advisors Booth 54 Sonoma Housing Advisors, LLC Bill and Lisa Fisher 16812 Dallas Parkway, Dallas, Texas 75248 214.608.7201 + bill.fisher@sonomaadvisors.com + lisa.fisher@sonomaadvisors.com www.sonomaadvisors.com Sonoma Housing Advisors’ leadership team has more than 20 years of experience in the development and financing of high-quality apartments and townhomes. Our team members have been directly involved in the application process, development, financing and/or construction of over 9,500 living units since 1996. We have received HOME, CDBG, 9% or 4% housing tax credit awards every year since 1996. Partner with Sonoma Housing Advisors to achieve winning results. www.sonomaadvisors.com 214.608.7201 SVN AFFORDABLE | Levental Realty SVN AFFORDABLE | Levental Realty Gene Levental | Managing Director 4755 Lake Forest Drive, Suite 220 | Cincinnati, Ohio 45242 (513) 321-7589 | gene.levental@svn.com www.svn-ahg.com SVN AFFORDABLE | Levental Realty is a commercial real estate brokerage, practicing in the niche market of Affordable Housing. We focus solely on valuing, marketing and selling Project-Based Section 8 and Section 42 deals, successfully trading 4,000 - 5,000 units of Affordable housing a year. Our list of projects sold ranges from California to New York and involves all types of HUD transactions, including Section 236 and 202, Rural Development, Mark-to-Market unwinding, and LIHTC deals.
Wallace Architects LLC Booth 6 Wallace Architects, LLC Mike Kleffner / Randy Porter 302 Campusview Dr., Suite 208, Columbia, MO 65201 573.256.7200 www.wallacearchitects.com Wallace Architects, LLC is one of the largest and most active Architectural firms in the Midwest specializing in senior and multi-family affordable housing developments. Wallace Architects has extensive experience in new construction and the renovation/rehabilitation of existing and historic properties throughout the South and Midwest parts of the United States, having active LIHTC projects in nearly twenty states. Please visit www.wallacearchitects.com to learn more about our work, our process and our team. Texas Affo rd abl e Housing Magazine
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Wilmington Trust N.A. Booth 22 Wilmington Trust N.A. Gregory M. Hasty 15950 North Dallas Parkway, Suite 550, Dallas TX 75248 972.383.3153 + ghasty@wilmingtontrust.com www.wilmingtontrust.com Wilmington Trust has been serving Corporate Trust clients for more than a century, providing the strength, resources, and credibility to meet the needs of sophisticated enterprises. We continuously strive to be a leading provider of specialized services to corporate and institutional customers and help our clients succeed, by efficiently delivering trust, agency and fiduciary solutions, as well as by helping mitigate risk. Clients rely on our services in the world’s most attractive jurisdictions, where we develop customized solutions, pairing technology and staff with world-class, local expertise. We’re the partner that corporate clients seek to execute complex transactions and provide solutions to help drive their success. Amegy Bank National Assoc. Booth 55 Amegy Bank Gloria Goff, VP, 713-232-6646 gloria.goff@amegybank.com Mary Jane Henson, SVP, 713-232-6036 maryjane.henson@amegybank.com Deirdre Ward, VP, 713-232-6017 deirdre.ward@amegybank.com www.amegybank.com As one of the most stable corporate trust providers in the country, we have earned the reputation for integrity and responsiveness to customer needs. Our success is closely aligned with the way we do business, particularly in our commitment to our customers. We have the resources and flexibility to execute even the most difficult of transactions and a staff of qualified trust professionals to lend invaluable experience and expertise. Visit www.amegybank.com for more information. Bowen National Research Booth 56 Bowen National Research Patrick M. Bowen, President 155 E. Columbus St., Ste. 220, Pickerington, OH 43147 614-833-9300 - patrickb@bowennational.com www.bowennatiional.com Bowen National Research provides market feasibility studies for a wide range of clients such as developers, syndicators, state agencies, housing authorities and city and county governments. Our services include residential market analysis for many types of housing (Tax Credit, subsidized, market-rate, for-sale, student, etc.), senior living studies (independent living, congregate care, assisted living, nursing care and HUD 232 LEAN), GIS services with demographic data customized to your needs, and other types of analysis (retail, commercial, housing needs assessments and more). Brown, Graham & Company, P.C. Booth 57 Brown, Graham & Company, P.C. Jessica Chen, Shareholder/Vice President 13809 Research Blvd, Suite 305, Austin, TX 78750 512-257-8091 + jchen@bgc-cpa.com www.bgc-cpa.com Brown, Graham & Company, P.C. is a Texas based Certified Public Accounting and consulting firm that serves the best interest of our clients and communities. The Austin office has served Public Housing Authorities and Low-income Tax Credit industry for over 22 years. Our professionals are well aware of the specialized needs of the Low-income tax credit, and HUD assisted and insured programs and are thoroughly versed in what it takes to keep you project running smoothly.
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City of Dallas Housing Finance Corp Booth 59 City of Dallas Housing Finance Karen Schaffner, Manager – City of Dallas Housing Finance Corporation Office of Economic Development, 1500 Marilla 5CS, Dallas, TX 75244 214.670.5390, karen.schaffner@dallascityhall.com The Dallas Housing Finance Corporation (DHFC) supports the citywide efforts for the public purpose of providing affordable housing for low-to-moderate income persons through ownership opportunities and by facilitating financing for development/re-development of all types of housing. DHFC financing includes tax-exempt bonds with 4% tax credits. The DHFC can provide loans as a conduit lender for 9% tax credit applicants to allow them to qualify for points under the provision of the 2014 Qualified Allocation Plan, “development funding from a local political subdivision” as of April 2013.
exhibitor
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E x H i B i t o r
CenterPoint Energy Houston Electric Booth 60 CenterPoint Energy Houston Electric CenterPoint Energy Low-Rise Multifamily and Direct Install Programs Sarah Andrews; Tim McConkie, 1111 Louisiana St., Houston TX 77002 713-207-6454 + sarah.andrews@centerpointenergy.com; 713-445-2031 + tim.mcconkie@icfi.com http://www.centerpointenergy.com The CenterPoint Energy Low-Rise Multifamily Program provides financial incentives to developers that commit to construct energy efficient multifamily complexes within the CenterPoint Energy electric distribution territory. In addition to incentives, developers can take advantage of sales training and marketing resources provided by the program at no cost. The Direct Install Program provides installation of energy efficient measures in existing affordable housing complexes at no cost to the property and residents.
Pathfinder LL&D Insurance Group Booth 58 Pathfinder LL&D Insurance Group Jason Hall 8632 Fredericksburg Rd, Suite 219, San Antonio, TX 78240 (210) 298-4777 + jhall@pathfinderins.com www.pathfinderlld.com Pathfinder LL&D Insurance, in operation since 1913, specializes in insurance for multi-family property, with a dedicated team of professionals versed in the ever-changing real estate marketplace. We can help determine what you need in the most cost-efficient manner with offerings of a diverse selection of insurance companies, loss control, safety, and claims management. We can customize an insurance program to protect your apartment investment within your budget needs.
Red Capital Group Booth 61 RED Capital Group Edward J. Meylor - Chairman & CEO 10 West Broad Street, 8th Floor Columbus, OH 43215 tel: 614.857.1413 tmeylor@redcapitalgroup.com redcapitalgroup.com RED Capital Group, LLC (RED) provides integrated debt and equity capital to the seniors housing and health care, multifamily, affordable, and student housing industries. RED Mortgage Capital, LLC is the nation’s #1 FHA/ HUD MAP and Lean Lender by loan count in HUD FY2015, a leading Fannie Mae DUS® lender and a Freddie Mac small balance lender. RED Capital Markets, LLC (MEMBER FINRA/SIPC) is a leader in the distribution of Fannie Mae and Ginnie Mae Project MBS, and provides structuring, underwriting, placement, and advisory services. RED Capital Partners, LLC provides proprietary debt and equity solutions, and asset management in a range of forms. RED is a wholly-owned subsidiary of ORIX USA Corporation. Texas affo rd abl e Housing Magazine
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Wilmington Trust N.A. Booth 22 Wilmington Trust N.A. Gregory M. Hasty 15950 North Dallas Parkway, Suite 550, Dallas TX 75248 972.383.3153 + ghasty@wilmingtontrust.com www.wilmingtontrust.com Wilmington Trust has been serving Corporate Trust clients for more than a century, providing the strength, resources, and credibility to meet the needs of sophisticated enterprises. We continuously strive to be a leading provider of specialized services to corporate and institutional customers and help our clients succeed, by efficiently delivering trust, agency and fiduciary solutions, as well as by helping mitigate risk. Clients rely on our services in the world’s most attractive jurisdictions, where we develop customized solutions, pairing technology and staff with world-class, local expertise. We’re the partner that corporate clients seek to execute complex transactions and provide solutions to help drive their success. Amegy Bank National Assoc. Booth 55 Amegy Bank Gloria Goff, VP, 713-232-6646 gloria.goff@amegybank.com Mary Jane Henson, SVP, 713-232-6036 maryjane.henson@amegybank.com Deirdre Ward, VP, 713-232-6017 deirdre.ward@amegybank.com www.amegybank.com As one of the most stable corporate trust providers in the country, we have earned the reputation for integrity and responsiveness to customer needs. Our success is closely aligned with the way we do business, particularly in our commitment to our customers. We have the resources and flexibility to execute even the most difficult of transactions and a staff of qualified trust professionals to lend invaluable experience and expertise. Visit www.amegybank.com for more information. Bowen National Research Booth 56 Bowen National Research Patrick M. Bowen, President 155 E. Columbus St., Ste. 220, Pickerington, OH 43147 614-833-9300 - patrickb@bowennational.com www.bowennatiional.com Bowen National Research provides market feasibility studies for a wide range of clients such as developers, syndicators, state agencies, housing authorities and city and county governments. Our services include residential market analysis for many types of housing (Tax Credit, subsidized, market-rate, for-sale, student, etc.), senior living studies (independent living, congregate care, assisted living, nursing care and HUD 232 LEAN), GIS services with demographic data customized to your needs, and other types of analysis (retail, commercial, housing needs assessments and more). Brown, Graham & Company, P.C. Booth 57 Brown, Graham & Company, P.C. Jessica Chen, Shareholder/Vice President 13809 Research Blvd, Suite 305, Austin, TX 78750 512-257-8091 + jchen@bgc-cpa.com www.bgc-cpa.com Brown, Graham & Company, P.C. is a Texas based Certified Public Accounting and consulting firm that serves the best interest of our clients and communities. The Austin office has served Public Housing Authorities and Low-income Tax Credit industry for over 22 years. Our professionals are well aware of the specialized needs of the Low-income tax credit, and HUD assisted and insured programs and are thoroughly versed in what it takes to keep you project running smoothly.
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City of Dallas Housing Finance Corp Booth 59 City of Dallas Housing Finance Karen Schaffner, Manager – City of Dallas Housing Finance Corporation Office of Economic Development, 1500 Marilla 5CS, Dallas, TX 75244 214.670.5390, karen.schaffner@dallascityhall.com The Dallas Housing Finance Corporation (DHFC) supports the citywide efforts for the public purpose of providing affordable housing for low-to-moderate income persons through ownership opportunities and by facilitating financing for development/re-development of all types of housing. DHFC financing includes tax-exempt bonds with 4% tax credits. The DHFC can provide loans as a conduit lender for 9% tax credit applicants to allow them to qualify for points under the provision of the 2014 Qualified Allocation Plan, “development funding from a local political subdivision” as of April 2013.
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E x H i B i t o r
CenterPoint Energy Houston Electric Booth 60 CenterPoint Energy Houston Electric CenterPoint Energy Low-Rise Multifamily and Direct Install Programs Sarah Andrews; Tim McConkie, 1111 Louisiana St., Houston TX 77002 713-207-6454 + sarah.andrews@centerpointenergy.com; 713-445-2031 + tim.mcconkie@icfi.com http://www.centerpointenergy.com The CenterPoint Energy Low-Rise Multifamily Program provides financial incentives to developers that commit to construct energy efficient multifamily complexes within the CenterPoint Energy electric distribution territory. In addition to incentives, developers can take advantage of sales training and marketing resources provided by the program at no cost. The Direct Install Program provides installation of energy efficient measures in existing affordable housing complexes at no cost to the property and residents.
Pathfinder LL&D Insurance Group Booth 58 Pathfinder LL&D Insurance Group Jason Hall 8632 Fredericksburg Rd, Suite 219, San Antonio, TX 78240 (210) 298-4777 + jhall@pathfinderins.com www.pathfinderlld.com Pathfinder LL&D Insurance, in operation since 1913, specializes in insurance for multi-family property, with a dedicated team of professionals versed in the ever-changing real estate marketplace. We can help determine what you need in the most cost-efficient manner with offerings of a diverse selection of insurance companies, loss control, safety, and claims management. We can customize an insurance program to protect your apartment investment within your budget needs.
Red Capital Group Booth 61 RED Capital Group Edward J. Meylor - Chairman & CEO 10 West Broad Street, 8th Floor Columbus, OH 43215 tel: 614.857.1413 tmeylor@redcapitalgroup.com redcapitalgroup.com RED Capital Group, LLC (RED) provides integrated debt and equity capital to the seniors housing and health care, multifamily, affordable, and student housing industries. RED Mortgage Capital, LLC is the nation’s #1 FHA/ HUD MAP and Lean Lender by loan count in HUD FY2015, a leading Fannie Mae DUS® lender and a Freddie Mac small balance lender. RED Capital Markets, LLC (MEMBER FINRA/SIPC) is a leader in the distribution of Fannie Mae and Ginnie Mae Project MBS, and provides structuring, underwriting, placement, and advisory services. RED Capital Partners, LLC provides proprietary debt and equity solutions, and asset management in a range of forms. RED is a wholly-owned subsidiary of ORIX USA Corporation. Texas affo rd abl e Housing Magazine
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Royce Communication Services Booth 62 Royce Communication Services LLC Robert T Brady 5 Dakota Drive, Suite 204, Lake Success New York 11042 rtbrady@roycecommunications.com 646-558-2010 ext. 102 www.roycecommunications.com Our mission is simple: make technology an asset for your business not a problem. Too many times we have seen other IT consulting firms recommend solutions that are not appropriate for the specific client’s business. RCS was founded on the vision of specializing in serving the multifamily housing industry by assisting them in improving management efficiencies , cost saving services and employee effectiveness.
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Arx Advantage, LLC Arx Advantage, LLC Robbye Meyer 8801 Francia Trail, Austin, TX 78748 512.963.2555 robbyemeyer@gmail.com www.arxadvantage.net Arx Advantage, LLC is a comprehensive real estate development consulting firm whose vision is to assist in the development of affordable housing through the use of public and private funding resources. The Arx team has extensive knowledge in real estate development, finance, housing programs, asset management and compliance services. Arx is committed to providing the highest level of professional service and dedicated to promoting and maintaining strong client relationships.
Conference Supporter
Capital Area Housing Finance Corp.
AGM Financial Services, Inc. AGM Financial Services, Inc. Margaret Allen 20 South Charles Street, Suite 1000, Baltimore, MD 21201 mallen@agmfinancial.com 443.573.2045 | www.agmfinancial.com The FHA Expert - It’s All We Do! Financing Multi-family Communities with FHA AGM arranges federally insured mortgages for apartment projects under FHA’s MAP (Multifamily Accelerated Processing) program. AGM is also an approved Lender for FHA’s Low Income Housing Tax Credit Pilot Program and is very active in the Rental Assistance Demonstration (RAD) Program firms.
Capital Area Housing Finance Corporation was established in 1981 to address workforce housing needs in Central Texas. We provide financing opportunities for single family home ownership and multi-family rental properties. In addition to providing financing for multi-family developments, CAHFC also codevelops and assumes an ownership role when appropriate. To date we have financed approximately 2900 units and have an ownership interest in over 850 units. We work with developers, finance team members, and local leaders to build relationships that benefit area residents and their communities while creating quality, sustainable workforce housing throughout our region.
Davis-Penn Mortgage Company Alpha-Barnes Real Estate, LLC Alpha-Barnes Real Estate Services, LLC Michael D. Clark, HCCP, Principal 12720 Hillcrest, Suite 400, Dallas, Texas 75230 972-643-3205 972-503-7569 (Fax) mclark@alpha-barnes.com www.alpha-barnes.com Since 2000, Alpha-Barnes Real Estate Services, LLC, has specialized in leasing, managing and ensuring program compliance for affordable apartment properties of all types throughout Texas, Oklahoma and Arkansas. Presently A-BRES manages over 2,500 HUD-financed and nearly 11,000 LIHTC units in Texas for over thirty clients. The company is headquartered in Dallas with regional offices and staff in Austin and San Antonio.
Davis-Penn Mortgage Co. Ray Landry 12650 N. Featherwood Dr. Suite 120, Houston, TX 77034 281.481.2400 RayL@davispenn.com www.davispenn.com For 40+ years, DPMC has dedicated its resources to providing developers the expertise to obtain construction, substantial rehabilitation, acquisition and refinancing loans through FHA programs. As an approved MAP and LIHTC Pilot Lender, issuer of GNMA securities and seller-servicer for HUD, DPMC has a proven track record in financing affordable communities across the country. DPMC has successfully closed and services 9% & 4% LIHTC Transactions, Year-15 Re-syndications, Section 236 Decouplings, RAD and LIHTC Pilot transactions.
DMA Development Company, LLC Anderson Development & Construction, LLC Anderson Development & Construction, LLC Terri Anderson 347 Walnut Grove Lane, Coppell, TX 75019, Phone: (972) 567-4630 Fax: (972) 462-8715 Anderson Development & Construction, LLC is an affiliate of Anderson Capital, LLC and was established in 2011 to facilitate development and construction related activities. For the past 12 years, Anderson Capital has secured over $137,860,000 in 9% housing tax credits as a full service consulting firm assisting clients with the development of over 1,670 affordable housing units with an 80.51 % success ratio. The professionals of Anderson have over 20 years’ experience in the affordable housing industry.
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Capital Area Housing Finance Corporation Jim Shaw 4101 Parkstone Heights Drive, Suite 280, Austin, TX 78746 512.347.9953 + jeshaw@cahfc.org www.cahfc.org
Conference Supporter
Exhibitor
E x h i b i t o r
Texas Affor dable Housi ng M agazi ne
DMA Development Company, LLC Diana McIver, President 4101 Parkstone Heights Drive, Suite 310, Austin, TX 78746 512.328.3232 + dianam@dmacompanies.com www.dmacompanies.com DMA Development Company, LLC has developed 27 apartment communities, primarily financed through the Housing Tax Credit Program. While most of the company’s portfolio is in the State of Texas, DMA Development has also developed apartment communities in Georgia and the District of Columbia. Through affiliated entities, DMA also provides third party property management services and development consulting services.
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Royce Communication Services Booth 62 Royce Communication Services LLC Robert T Brady 5 Dakota Drive, Suite 204, Lake Success New York 11042 rtbrady@roycecommunications.com 646-558-2010 ext. 102 www.roycecommunications.com Our mission is simple: make technology an asset for your business not a problem. Too many times we have seen other IT consulting firms recommend solutions that are not appropriate for the specific client’s business. RCS was founded on the vision of specializing in serving the multifamily housing industry by assisting them in improving management efficiencies , cost saving services and employee effectiveness.
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Arx Advantage, LLC Arx Advantage, LLC Robbye Meyer 8801 Francia Trail, Austin, TX 78748 512.963.2555 robbyemeyer@gmail.com www.arxadvantage.net Arx Advantage, LLC is a comprehensive real estate development consulting firm whose vision is to assist in the development of affordable housing through the use of public and private funding resources. The Arx team has extensive knowledge in real estate development, finance, housing programs, asset management and compliance services. Arx is committed to providing the highest level of professional service and dedicated to promoting and maintaining strong client relationships.
Conference Supporter
Capital Area Housing Finance Corp.
AGM Financial Services, Inc. AGM Financial Services, Inc. Margaret Allen 20 South Charles Street, Suite 1000, Baltimore, MD 21201 mallen@agmfinancial.com 443.573.2045 | www.agmfinancial.com The FHA Expert - It’s All We Do! Financing Multi-family Communities with FHA AGM arranges federally insured mortgages for apartment projects under FHA’s MAP (Multifamily Accelerated Processing) program. AGM is also an approved Lender for FHA’s Low Income Housing Tax Credit Pilot Program and is very active in the Rental Assistance Demonstration (RAD) Program firms.
Capital Area Housing Finance Corporation was established in 1981 to address workforce housing needs in Central Texas. We provide financing opportunities for single family home ownership and multi-family rental properties. In addition to providing financing for multi-family developments, CAHFC also codevelops and assumes an ownership role when appropriate. To date we have financed approximately 2900 units and have an ownership interest in over 850 units. We work with developers, finance team members, and local leaders to build relationships that benefit area residents and their communities while creating quality, sustainable workforce housing throughout our region.
Davis-Penn Mortgage Company Alpha-Barnes Real Estate, LLC Alpha-Barnes Real Estate Services, LLC Michael D. Clark, HCCP, Principal 12720 Hillcrest, Suite 400, Dallas, Texas 75230 972-643-3205 972-503-7569 (Fax) mclark@alpha-barnes.com www.alpha-barnes.com Since 2000, Alpha-Barnes Real Estate Services, LLC, has specialized in leasing, managing and ensuring program compliance for affordable apartment properties of all types throughout Texas, Oklahoma and Arkansas. Presently A-BRES manages over 2,500 HUD-financed and nearly 11,000 LIHTC units in Texas for over thirty clients. The company is headquartered in Dallas with regional offices and staff in Austin and San Antonio.
Davis-Penn Mortgage Co. Ray Landry 12650 N. Featherwood Dr. Suite 120, Houston, TX 77034 281.481.2400 RayL@davispenn.com www.davispenn.com For 40+ years, DPMC has dedicated its resources to providing developers the expertise to obtain construction, substantial rehabilitation, acquisition and refinancing loans through FHA programs. As an approved MAP and LIHTC Pilot Lender, issuer of GNMA securities and seller-servicer for HUD, DPMC has a proven track record in financing affordable communities across the country. DPMC has successfully closed and services 9% & 4% LIHTC Transactions, Year-15 Re-syndications, Section 236 Decouplings, RAD and LIHTC Pilot transactions.
DMA Development Company, LLC Anderson Development & Construction, LLC Anderson Development & Construction, LLC Terri Anderson 347 Walnut Grove Lane, Coppell, TX 75019, Phone: (972) 567-4630 Fax: (972) 462-8715 Anderson Development & Construction, LLC is an affiliate of Anderson Capital, LLC and was established in 2011 to facilitate development and construction related activities. For the past 12 years, Anderson Capital has secured over $137,860,000 in 9% housing tax credits as a full service consulting firm assisting clients with the development of over 1,670 affordable housing units with an 80.51 % success ratio. The professionals of Anderson have over 20 years’ experience in the affordable housing industry.
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Capital Area Housing Finance Corporation Jim Shaw 4101 Parkstone Heights Drive, Suite 280, Austin, TX 78746 512.347.9953 + jeshaw@cahfc.org www.cahfc.org
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Exhibitor
E x h i b i t o r
Texas Affor dable Housi ng M agazi ne
DMA Development Company, LLC Diana McIver, President 4101 Parkstone Heights Drive, Suite 310, Austin, TX 78746 512.328.3232 + dianam@dmacompanies.com www.dmacompanies.com DMA Development Company, LLC has developed 27 apartment communities, primarily financed through the Housing Tax Credit Program. While most of the company’s portfolio is in the State of Texas, DMA Development has also developed apartment communities in Georgia and the District of Columbia. Through affiliated entities, DMA also provides third party property management services and development consulting services.
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Dominium
Lancaster Pollard Mortgage Co.
Dominium Inc. Mark Moorhouse Partner and Senior Vice President of Development 2905 Northwest Boulevard, Suite 150, Plymouth, MN 55441 763-354-5613 mmoorhouse@dominiuminc.com www.dominiumapartments.com
Lancaster Pollard Lisa Vecchietti 1301 S. Capital of Texas Highway, Suite A-130, Austin, TX 78746 512-590-8452 lvecchietti@lancasterpollard.com www.lancasterpollard.com
Founded in 1972, Dominium is a Minneapolis-based owner, developer, and manager of apartment communities nationwide. Dominium is #2 on Affordable Housing Finance’s “AHF 50” list of the nation’s largest affordable housing owners. With more than 25,000 owned and/or managed units at 214 sites in 23 states, Dominium is known for creative solutions to unique and challenging development projects, and management expertise. We are proud to say we own and manage 25 wonderful properties in the great state of Texas, 23 of which have TDHCA affordable programs, representing over 3,300 units and employing over 100 people. For more information visit www.dominiumapartments.com.
Lancaster Pollard provides creative financing options for affordable housing developers to fund new construction, moderate to substantial capital improvements, acquisition or refinance. Our finance options include FHA mortgage insurance, Fannie Mae multi-family special affordable housing programs, taxable and tax-exempt bonds, with or without enhancement, and USDA guaranteed loans. We serve both nonprofit and for-profit developers/owners and are able to integrate multiple sources of funding.
M Group, LLP Enchanted Capital Ben A. Dupuy Enhanced Capital | National Tax Credit Finance 201 St. Charles Avenue, Suite 3400, New Orleans, Louisiana 70170 bdupuy@enhancedcapital.com (202) 253-2063 www.enhancedcapital.com Enhanced Capital, founded in 1999, is a national firm with extensive experience providing capital to real estate projects and businesses that qualify for federal and state tax credits. The firm is a major New Markets Tax Credit allocatee. Enhanced Capital will participate in projects with Low Income Housing Tax Credits, Historic Rehabilitation Tax Credits, New Markets Tax Credits, Renewable Energy Investment Tax Credits, Brownfield Credits, and others at the federal and state levels.
KWA Construction KWA Construction, LP 16800 Westgrove Drive, Suite 300, Addison, TX 75001 (214) 978-0177 info@kwaconstruction.com www.kwaconstruction.com KWA Construction is a Dallas-¬based construction firm specializing in multifamily developments. As general contractors, our team of experts has developed a reputation for being among the best in our industry. Founded in 2004, KWA Construction serves from a foundation of values created and realized by each individual who works in our organization. We strive to set the standard for excellence at the beginning of a project and carry that high standard throughout every process and estimate to ensure clients receive the greatest value at the right cost, every time. For more information about KWA Construction, visitwww.kwaconstruction.com.
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Texas affor dable Housi ng M agazi ne
M Group, LLP Michael Martin, Managing Partner 515 W. Southlake Blvd., Suite 150, Southlake, TX 76092 817.865.1360 + mmartin@mgrouptx.com www.mgrouptx.com M Group, LLP is a full service public accounting firm specializing in real estate and the affordable housing industry. For over 15 years, M Group professionals have served developers, owners and managers of affordable housing projects throughout the United States providing audit and assurance, cost certifications, carryover allocations, tax planning, compliance and consulting services. M Group, LLP also has vast experience serving the distinct needs of nonprofit organizations helping them fulfill their missions.
Conference supporter
Conference supporter
E x H i B i t o r
Mason Joseph Company, Inc. Mason Joseph Company, Inc. David Joseph, Executive Vice President 211 N. Loop 1604 E. Suite 140 San Antonio, TX 78232 210.402.6161 + david@masonjosephco.com www.masonjosephco.com Mason Joseph Company, Inc. is a multifamily mortgage banking firm and an FHA MAP lender providing financing for the market rate and affordable housing industries. Based in San Antonio, MJC arranges multifamily loans through long, well-established relationships with the country’s premier real estate investors including FNMA, FHLMC, CMBS, commercial banks, private investors, and life insurance companies. MJC specializes in originating and underwriting mortgages through FHA for the acquisition, refinancing, construction, and/or rehabilitation of apartment properties.
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Dominium
Lancaster Pollard Mortgage Co.
Dominium Inc. Mark Moorhouse Partner and Senior Vice President of Development 2905 Northwest Boulevard, Suite 150, Plymouth, MN 55441 763-354-5613 mmoorhouse@dominiuminc.com www.dominiumapartments.com
Lancaster Pollard Lisa Vecchietti 1301 S. Capital of Texas Highway, Suite A-130, Austin, TX 78746 512-590-8452 lvecchietti@lancasterpollard.com www.lancasterpollard.com
Founded in 1972, Dominium is a Minneapolis-based owner, developer, and manager of apartment communities nationwide. Dominium is #2 on Affordable Housing Finance’s “AHF 50” list of the nation’s largest affordable housing owners. With more than 25,000 owned and/or managed units at 214 sites in 23 states, Dominium is known for creative solutions to unique and challenging development projects, and management expertise. We are proud to say we own and manage 25 wonderful properties in the great state of Texas, 23 of which have TDHCA affordable programs, representing over 3,300 units and employing over 100 people. For more information visit www.dominiumapartments.com.
Lancaster Pollard provides creative financing options for affordable housing developers to fund new construction, moderate to substantial capital improvements, acquisition or refinance. Our finance options include FHA mortgage insurance, Fannie Mae multi-family special affordable housing programs, taxable and tax-exempt bonds, with or without enhancement, and USDA guaranteed loans. We serve both nonprofit and for-profit developers/owners and are able to integrate multiple sources of funding.
M Group, LLP Enchanted Capital Ben A. Dupuy Enhanced Capital | National Tax Credit Finance 201 St. Charles Avenue, Suite 3400, New Orleans, Louisiana 70170 bdupuy@enhancedcapital.com (202) 253-2063 www.enhancedcapital.com Enhanced Capital, founded in 1999, is a national firm with extensive experience providing capital to real estate projects and businesses that qualify for federal and state tax credits. The firm is a major New Markets Tax Credit allocatee. Enhanced Capital will participate in projects with Low Income Housing Tax Credits, Historic Rehabilitation Tax Credits, New Markets Tax Credits, Renewable Energy Investment Tax Credits, Brownfield Credits, and others at the federal and state levels.
KWA Construction KWA Construction, LP 16800 Westgrove Drive, Suite 300, Addison, TX 75001 (214) 978-0177 info@kwaconstruction.com www.kwaconstruction.com KWA Construction is a Dallas-¬based construction firm specializing in multifamily developments. As general contractors, our team of experts has developed a reputation for being among the best in our industry. Founded in 2004, KWA Construction serves from a foundation of values created and realized by each individual who works in our organization. We strive to set the standard for excellence at the beginning of a project and carry that high standard throughout every process and estimate to ensure clients receive the greatest value at the right cost, every time. For more information about KWA Construction, visitwww.kwaconstruction.com.
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M Group, LLP Michael Martin, Managing Partner 515 W. Southlake Blvd., Suite 150, Southlake, TX 76092 817.865.1360 + mmartin@mgrouptx.com www.mgrouptx.com M Group, LLP is a full service public accounting firm specializing in real estate and the affordable housing industry. For over 15 years, M Group professionals have served developers, owners and managers of affordable housing projects throughout the United States providing audit and assurance, cost certifications, carryover allocations, tax planning, compliance and consulting services. M Group, LLP also has vast experience serving the distinct needs of nonprofit organizations helping them fulfill their missions.
Conference supporter
Conference supporter
E x H i B i t o r
Mason Joseph Company, Inc. Mason Joseph Company, Inc. David Joseph, Executive Vice President 211 N. Loop 1604 E. Suite 140 San Antonio, TX 78232 210.402.6161 + david@masonjosephco.com www.masonjosephco.com Mason Joseph Company, Inc. is a multifamily mortgage banking firm and an FHA MAP lender providing financing for the market rate and affordable housing industries. Based in San Antonio, MJC arranges multifamily loans through long, well-established relationships with the country’s premier real estate investors including FNMA, FHLMC, CMBS, commercial banks, private investors, and life insurance companies. MJC specializes in originating and underwriting mortgages through FHA for the acquisition, refinancing, construction, and/or rehabilitation of apartment properties.
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Pedcor Investments, LLC
The Michaels Organization
Phillip J. Stoffregen COO/Executive Vice President PH: (317) 587-0343 pjstoffy@pedcor.net www.pedcorcompanies.com
Jorge Aguirre, Vice President The Michaels Development Company A Member of The Michaels Organization 240 North Highland Ave. NE, #3238, Atlanta, GA 30307 Telephone: (407) 575 2463 Email: jaguirre@themichaelsorg.com
Founded in 1987, Pedcor has become one of the nation’s largest developers of Section 42 LIHTC rental housing, vertically integrated with in-house development, financing, management, construction, architectural, engineering, accounting, IT and legal capabilities. Pedcor has developed/redeveloped 19,977 units and currently manages 16,745 units including 13,275 LIHTC units. Active in 16 states, Pedcor specializes in large scale 4% tax exempt bond financing having raised over $1 billion in debt and $650 million in LIHTC equity.
D i r E c t o r y
The Michaels Organization is a privately-held family of independent but integrated companies dedicated to excellence in affordable, mixed-income, military housing and student housing. Serving more than 125,000 residents in 380 communities across 35 states, the District of Columbia, and the U.S. Virgin Islands and with a development portfolio valued in excess of $4.5 billion, The Michaels Organization is a national leader in the residential real estate industry, with full service capabilities in development, property and asset management, construction, and mortgage finance and tax credit syndication.
Rainbow Housing Assistance Corporation Davis-Penn Mortgage Co. Ray Landry 12650 N. Featherwood Dr. Suite 120, Houston, TX 77034 281.481.2400 RayL@davispenn.com www.davispenn.com For 40+ years, DPMC has dedicated its resources to providing developers the expertise to obtain construction, substantial rehabilitation, acquisition and refinancing loans through FHA programs. As an approved MAP and LIHTC Pilot Lender, issuer of GNMA securities and seller-servicer for HUD, DPMC has a proven track record in financing affordable communities across the country. DPMC has successfully closed and services 9% & 4% LIHTC Transactions, Year-15 Re-syndications, Section 236 Decouplings, RAD and LIHTC Pilot transactions.
Texas State Affordable Housing Corporation (TSAHC) Texas State Affordable Housing Corporation 2200 E. Martin Luther King Jr. Boulevard Austin, TX 78702 512-477-3555 ddanenfelzer@tsahc.org www.tsahc.org The Texas State Affordable Housing Corporation is a statewide nonprofit created at the direction of the Texas Legislature. We help build and preserve affordable housing through financing programs such taxexempt bonds, lines of credit and land banking and land trusts services. TSAHC also offers owners and property management companies with services such as multifamily compliance reviews, property staff training, and file reviews. Visit www.tsahc.org to learn more.
Stifel, Nicolaus & Company, Incorporated
Volunteers of America
Stifel, Nicolaus & Company, Incorporated Cody N. Wilson, Director 3060 Peachtree Road NW, Suite 1700, Atlanta, Georgia 30305 wilsonco@stifel.com
Volunteers of America Patrick Sheridan – Executive Vice President, Housing 1660 Duke Street, Alexandria, VA 22314 703-341-5095 psheridan@voa.org www.voa.org
Stifel, Nicolaus & Company, Incorporated (“Stifel”) is a publicly held financial services company that provides a leading platform of investment banking and securities services. Founded in 1890, the firm is headquartered in St. Louis, Missouri and has offices in over 45 states and nearly 7,400 employees. Stifel was the #1 ranked underwriter of affordable housing bonds in 2015, based on the number of issues brought to market. Our leadership position and constant market involvement give us the greatest level of insight and allow us to provide the most innovative ideas to our clients.
Stonehenge Capital Stonehenge Capital Company LLC Whitney Little LaNasa / Director 236 Third Street | Baton Rouge, Louisiana, 70801 Tel: (225)408-3265 (direct) wllanasa@stonehengecapital.com www.stonehendgecapital.com Stonehenge is a national specialty finance company with expertise in structured tax credit finance in the areas of affordable housing/low-income housing tax credits, brownfield remediation, community development (federal and state new markets tax credits), digital animation, historic rehabilitations, motion picture/film productions, and renewable energy. For projects generating tax credits, Stonehenge provides unique financing and monetization solutions for almost any type of tax credit incentive, from the simplest of projects to the most complex, highly technical tax credit transactions.
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Texas affor dable Housi ng M agazi ne
Conference supporter
Conference supporter
E x H i B i t o r
Since 1896, Volunteers of America has supported and empowered America’s most vulnerable groups, dedicated to helping those in need rebuild their lives and reach their full potential. Through our hundreds of human service programs, including housing and healthcare, Volunteers of America touches the lives of more than 2 million people in over 400 communities in 46 states as well as the District of Columbia and Puerto Rico each year.
CMR Risk & Insurance Services, Inc. CMR Risk & Insurance Services, Inc. Real Estate Division Erik Wenstone, ARM - Vice President 8880 Rio San Diego Drive, #725, San Diego, CA 92108 619-297-3160 www.cmrris.com CMR Risk & Insurance Services, Inc.’s Real Estate Division provides risk management support and insurance program design exclusively for firms in the Real Estate Industry with a unique LIHTC niche. CMR has developed exclusive LIHTC products including our surety product to protect against credit recapture due to non-compliance after disposition as well as a builder’s risk product that can insure up to one year of the tax credits following a covered loss.
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Pedcor Investments, LLC
The Michaels Organization
Phillip J. Stoffregen COO/Executive Vice President PH: (317) 587-0343 pjstoffy@pedcor.net www.pedcorcompanies.com
Jorge Aguirre, Vice President The Michaels Development Company A Member of The Michaels Organization 240 North Highland Ave. NE, #3238, Atlanta, GA 30307 Telephone: (407) 575 2463 Email: jaguirre@themichaelsorg.com
Founded in 1987, Pedcor has become one of the nation’s largest developers of Section 42 LIHTC rental housing, vertically integrated with in-house development, financing, management, construction, architectural, engineering, accounting, IT and legal capabilities. Pedcor has developed/redeveloped 19,977 units and currently manages 16,745 units including 13,275 LIHTC units. Active in 16 states, Pedcor specializes in large scale 4% tax exempt bond financing having raised over $1 billion in debt and $650 million in LIHTC equity.
D i r E c t o r y
The Michaels Organization is a privately-held family of independent but integrated companies dedicated to excellence in affordable, mixed-income, military housing and student housing. Serving more than 125,000 residents in 380 communities across 35 states, the District of Columbia, and the U.S. Virgin Islands and with a development portfolio valued in excess of $4.5 billion, The Michaels Organization is a national leader in the residential real estate industry, with full service capabilities in development, property and asset management, construction, and mortgage finance and tax credit syndication.
Rainbow Housing Assistance Corporation Davis-Penn Mortgage Co. Ray Landry 12650 N. Featherwood Dr. Suite 120, Houston, TX 77034 281.481.2400 RayL@davispenn.com www.davispenn.com For 40+ years, DPMC has dedicated its resources to providing developers the expertise to obtain construction, substantial rehabilitation, acquisition and refinancing loans through FHA programs. As an approved MAP and LIHTC Pilot Lender, issuer of GNMA securities and seller-servicer for HUD, DPMC has a proven track record in financing affordable communities across the country. DPMC has successfully closed and services 9% & 4% LIHTC Transactions, Year-15 Re-syndications, Section 236 Decouplings, RAD and LIHTC Pilot transactions.
Texas State Affordable Housing Corporation (TSAHC) Texas State Affordable Housing Corporation 2200 E. Martin Luther King Jr. Boulevard Austin, TX 78702 512-477-3555 ddanenfelzer@tsahc.org www.tsahc.org The Texas State Affordable Housing Corporation is a statewide nonprofit created at the direction of the Texas Legislature. We help build and preserve affordable housing through financing programs such taxexempt bonds, lines of credit and land banking and land trusts services. TSAHC also offers owners and property management companies with services such as multifamily compliance reviews, property staff training, and file reviews. Visit www.tsahc.org to learn more.
Stifel, Nicolaus & Company, Incorporated
Volunteers of America
Stifel, Nicolaus & Company, Incorporated Cody N. Wilson, Director 3060 Peachtree Road NW, Suite 1700, Atlanta, Georgia 30305 wilsonco@stifel.com
Volunteers of America Patrick Sheridan – Executive Vice President, Housing 1660 Duke Street, Alexandria, VA 22314 703-341-5095 psheridan@voa.org www.voa.org
Stifel, Nicolaus & Company, Incorporated (“Stifel”) is a publicly held financial services company that provides a leading platform of investment banking and securities services. Founded in 1890, the firm is headquartered in St. Louis, Missouri and has offices in over 45 states and nearly 7,400 employees. Stifel was the #1 ranked underwriter of affordable housing bonds in 2015, based on the number of issues brought to market. Our leadership position and constant market involvement give us the greatest level of insight and allow us to provide the most innovative ideas to our clients.
Stonehenge Capital Stonehenge Capital Company LLC Whitney Little LaNasa / Director 236 Third Street | Baton Rouge, Louisiana, 70801 Tel: (225)408-3265 (direct) wllanasa@stonehengecapital.com www.stonehendgecapital.com Stonehenge is a national specialty finance company with expertise in structured tax credit finance in the areas of affordable housing/low-income housing tax credits, brownfield remediation, community development (federal and state new markets tax credits), digital animation, historic rehabilitations, motion picture/film productions, and renewable energy. For projects generating tax credits, Stonehenge provides unique financing and monetization solutions for almost any type of tax credit incentive, from the simplest of projects to the most complex, highly technical tax credit transactions.
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Texas affor dable Housi ng M agazi ne
Conference supporter
Conference supporter
E x H i B i t o r
Since 1896, Volunteers of America has supported and empowered America’s most vulnerable groups, dedicated to helping those in need rebuild their lives and reach their full potential. Through our hundreds of human service programs, including housing and healthcare, Volunteers of America touches the lives of more than 2 million people in over 400 communities in 46 states as well as the District of Columbia and Puerto Rico each year.
CMR Risk & Insurance Services, Inc. CMR Risk & Insurance Services, Inc. Real Estate Division Erik Wenstone, ARM - Vice President 8880 Rio San Diego Drive, #725, San Diego, CA 92108 619-297-3160 www.cmrris.com CMR Risk & Insurance Services, Inc.’s Real Estate Division provides risk management support and insurance program design exclusively for firms in the Real Estate Industry with a unique LIHTC niche. CMR has developed exclusive LIHTC products including our surety product to protect against credit recapture due to non-compliance after disposition as well as a builder’s risk product that can insure up to one year of the tax credits following a covered loss.
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Monday Coffee Break
Conference Bags
AGM Financial Services, Inc.
City Real Estate Advisors
Margaret Allen 20 South Charles Street, Suite 1000, Baltimore, MD 21201 mallen@agmfinancial.com 443.573.2045 | www.agmfinancial.com The FHA Expert - It’s All We Do! Financing Multi-family Communities with FHA
The Offices at The Domain Building One – Suite 360 11401 Century Oaks Terrace, Austin, TX 78758 512.821.4081 + rthomas@cityrealestateadvisors.com www.cityrealestateadvisors.com
AGM arranges federally insured mortgages for apartment projects under FHA’s MAP (Multifamily Accelerated Processing) program. AGM is also an approved Lender for FHA’s Low Income Housing Tax Credit Pilot Program and is very active in the Rental Assistance Demonstration (RAD) Program firms.
City Real Estate Advisors, Inc. is a full-service low income housing tax credit syndicator, operating in 43 states and one US Territory. To date, CREA has raised and placed over $3.1 billion in LIHTC equity. With offices in Indianapolis, Boston, Austin, Portland St. Petersburg and San Diego, we are dedicated to helping developers get the capital and resources they need to create quality affordable housing — while offering excellent investments to our investor clients..
Hotel Key Card Bank of Texas Pamela M Black, CCTS/SVP State Corporate Trust Manager- Texas BOK Financial Services provided by BOKF, NA 801 Cherry St, Suite 3325, Unit 27, Fort Worth, TX 76102 817-348-5797 | Phone 972-581-8913 Cell pblack@bokf.com | Email pblack@bankoftexas.com Bank of Texas is part of BOK Financial, one of the top 25 U.S.-based banks. It offers a wide range of services to the housing industry, including successor trustee, bond trustee, custody, paying agent and escrow agent from our Corporate Trust group and financing for affordable housing and community revitalization projects from our Community Development group. Bank of Texas offers strength and stability with a personal approach to develop customized client solutions.
Keynote Breakfast CommunityBank of Texas Stephen W. Rose, Senior Vice President CommunityBank of Texas, NA 9 Greenway Plaza, Suite 110, Houston, Texas 77046 Direct: 713-308-5754, Cell: 713-294-9620 srose@communitybankoftx.com
Specialty Sponsor
Specialty Sponsor
E x h i b i t o r
CommunityBank of Texas is a $2.8 billion local community bank headquartered in Beaumont, Texas with a large presence in the Houston market. Our affordable housing debt platform serves communities statewide from our largest cities to our smallest towns. We provide sophisticated financing with the quality service and nimbleness of your local hometown bank.
Mobile App BBVA Compass
HUD Keynote Lunch Sponsors
Ken L. Overshiner Senior Vice President Community Development Capital, BBVA Compass 713-966-2303 Ken.Overshiner@bbva.com
Fox Energy Specialist
BBVA Compass is a Sunbelt-based financial institution that operates 674 branches and commercial and private client offices throughout the U.S. It ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the 5 largest banks in Alabama, Texas and Arizona. BBVA Compass recently earned top nods for best mobile app and best regional bank in the South & West in Money magazine’s annual list of the Best Banks in America.
Big Bag Giveaway
Jerry Fenchel, Vice President Business Development 3109 Lubbock Avenue, Fort Worth, TX 76109 817-546-0160 x153 + jfenchel@foxenergyspecialists.com www.foxnergyspecialists.com As you work to transform lives and communities, connect with more than 30 years of community development experience, expertise and commitment at Bank of America Merrill Lynch. Whether you need tax-credit investments, flexible lending or other financial services, we can help you move projects to completion. We’ve committed $1.5 trillion to community development over the last 10 years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.
CBRE Affordable Housing Robert Sheppard, Managing Director, Vice Chairman AFFORDABLE HOUSING 1918 Eighth Street, Suite 3200, Seattle, WA, 98101 +1 206 826 5800 affordablehousing@cbre.com www.cbre.com/affordablehousing CBRE Affordable Housing specializes in investment sales, debt and structured finance, investment banking, and valuation services for clients in the affordable housing industry. Our team has deep experience, industry expertise, and proprietary market knowledge in affordable housing transactions, all resulting in the ability to create significant value for our clients.
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Conference Bags
AGM Financial Services, Inc.
City Real Estate Advisors
Margaret Allen 20 South Charles Street, Suite 1000, Baltimore, MD 21201 mallen@agmfinancial.com 443.573.2045 | www.agmfinancial.com The FHA Expert - It’s All We Do! Financing Multi-family Communities with FHA
The Offices at The Domain Building One – Suite 360 11401 Century Oaks Terrace, Austin, TX 78758 512.821.4081 + rthomas@cityrealestateadvisors.com www.cityrealestateadvisors.com
AGM arranges federally insured mortgages for apartment projects under FHA’s MAP (Multifamily Accelerated Processing) program. AGM is also an approved Lender for FHA’s Low Income Housing Tax Credit Pilot Program and is very active in the Rental Assistance Demonstration (RAD) Program firms.
City Real Estate Advisors, Inc. is a full-service low income housing tax credit syndicator, operating in 43 states and one US Territory. To date, CREA has raised and placed over $3.1 billion in LIHTC equity. With offices in Indianapolis, Boston, Austin, Portland St. Petersburg and San Diego, we are dedicated to helping developers get the capital and resources they need to create quality affordable housing — while offering excellent investments to our investor clients..
Hotel Key Card Bank of Texas Pamela M Black, CCTS/SVP State Corporate Trust Manager- Texas BOK Financial Services provided by BOKF, NA 801 Cherry St, Suite 3325, Unit 27, Fort Worth, TX 76102 817-348-5797 | Phone 972-581-8913 Cell pblack@bokf.com | Email pblack@bankoftexas.com Bank of Texas is part of BOK Financial, one of the top 25 U.S.-based banks. It offers a wide range of services to the housing industry, including successor trustee, bond trustee, custody, paying agent and escrow agent from our Corporate Trust group and financing for affordable housing and community revitalization projects from our Community Development group. Bank of Texas offers strength and stability with a personal approach to develop customized client solutions.
Keynote Breakfast CommunityBank of Texas Stephen W. Rose, Senior Vice President CommunityBank of Texas, NA 9 Greenway Plaza, Suite 110, Houston, Texas 77046 Direct: 713-308-5754, Cell: 713-294-9620 srose@communitybankoftx.com
Specialty Sponsor
Specialty Sponsor
E x h i b i t o r
CommunityBank of Texas is a $2.8 billion local community bank headquartered in Beaumont, Texas with a large presence in the Houston market. Our affordable housing debt platform serves communities statewide from our largest cities to our smallest towns. We provide sophisticated financing with the quality service and nimbleness of your local hometown bank.
Mobile App BBVA Compass
HUD Keynote Lunch Sponsors
Ken L. Overshiner Senior Vice President Community Development Capital, BBVA Compass 713-966-2303 Ken.Overshiner@bbva.com
Fox Energy Specialist
BBVA Compass is a Sunbelt-based financial institution that operates 674 branches and commercial and private client offices throughout the U.S. It ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the 5 largest banks in Alabama, Texas and Arizona. BBVA Compass recently earned top nods for best mobile app and best regional bank in the South & West in Money magazine’s annual list of the Best Banks in America.
Big Bag Giveaway
Jerry Fenchel, Vice President Business Development 3109 Lubbock Avenue, Fort Worth, TX 76109 817-546-0160 x153 + jfenchel@foxenergyspecialists.com www.foxnergyspecialists.com As you work to transform lives and communities, connect with more than 30 years of community development experience, expertise and commitment at Bank of America Merrill Lynch. Whether you need tax-credit investments, flexible lending or other financial services, we can help you move projects to completion. We’ve committed $1.5 trillion to community development over the last 10 years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.
CBRE Affordable Housing Robert Sheppard, Managing Director, Vice Chairman AFFORDABLE HOUSING 1918 Eighth Street, Suite 3200, Seattle, WA, 98101 +1 206 826 5800 affordablehousing@cbre.com www.cbre.com/affordablehousing CBRE Affordable Housing specializes in investment sales, debt and structured finance, investment banking, and valuation services for clients in the affordable housing industry. Our team has deep experience, industry expertise, and proprietary market knowledge in affordable housing transactions, all resulting in the ability to create significant value for our clients.
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Hud Keynote lunch sponsors
Wine Trail sponsors
JLL Capital Market
Goodman Mgf. Co LP
John Sabatier, Executive Vice President 28050 US Hwy 19 N., Suite 500, Clearwater, FL 33761 1 (727) 437-4913 + John.sabatier@am.jll.com www.us.jll.com/capitalmarkets
Dick Rydzeski, Director National Accounts 5151 San Felipe, Suite 500, Houston, TX 77056 713.263.5249 + dick.rydzeski@goodmanmfg.com www.goodmanmfg.com
JLL is a full-service global provider of capital solutions for real estate investors and occupiers. Our U.S. Capital Markets specialists completed over $23 billion in debt and equity financing transactions in 2015. As one of the nation’s largest multifamily lenders, we maintain strong relationships with Fannie Mae, Freddie Mac and HUD/Ginnie Mae, and were named a top affordable housing lender in 2015 by both Fannie Mae and Freddie Mac. Blazer Building Inc Jim Wanja 713.914.9200 voice 713.914.9292 fax 281.833.1083 direct jwanja@blazerbuilding.com www.blazerbuilding.com Blazer Building founded in 1978 as a general construction company focused on delivering highquality product on an expedited schedule at the best possible value. Blazer is dedicated to providing personalized attention to our clients, believing strongly in a relationship-based approach to business. Blazer provides construction services through a number of platforms including General Contracting; Self-Performed Work; Construction Management; and Design-Build. Over our 38 year history, Blazer Building has overseen the construction of more than 33,000 apartment homes totaling over $1.5 billion in contract value
Keynote lunch
D i r E c t o r y
We’ve been building Goodman® brand air conditioning and heating equipment since 1982. Given our more than 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.
Ryan Companies US, Inc. David Knoll, Director of Development 111 Congress Avenue, Suite 1850, Austin, TX 78701 512.493.5908 + david.knoll@ryancompanies.com www.ryancompanies.com Ryan Companies is a leading national commercial real estate firm offering integrated design-build, development and real estate management services to customers. Over the past 78 years, Ryan has been involved in a variety of projects across the United States. Our experience spans the full range of commercial product types and includes a significant portfolio of market rate and affordable apartment developments.
specialty sponsor
specialty sponsor
E x H i B i t o r
JP Morgan Chase David H. Saling, Executive Director/Senior Commercial Banker 221 West Sixth Street, Floor 2, Austin, TX 78701 512.479.2218 + david.h.saling@chase.com www.chase.com/cdb
Wednesday brunch
Chase takes pride in working to develop vibrant and diverse communities capable of sustaining a high quality of life and economic opportunity. We distinguish ourselves as a national leader in community development by expanding access to capital, providing leadership by example, and delivering comprehensive community development solutions of our global bank. By providing the financial resources needed to grow and develop, Chase is leading the way to help strengthen communities across America.
Michael C. Gardner, Principal 8000 Maryland Ave., Ste. 910, Clayton, Missouri 63105 Direct: 314.561.5901 Cell: 214.842.0215 Fax: 314.963.9995 Email: michael@gardnercapital.com Gardner Capital Development: Developing Partnerships, Building Communities, Changing Lives
Wine Trail sponsors
Gardner Capital owns and operates several businesses throughout the United States, specifically focusing on housing and renewable energy development, investment and syndication of tax credits. Gardner has invested more than $1 billion of equity to provide affordable housing in over 50 communities. The principals, Mark Gardner and Michael Gardner, continue to expand the national footprint of renewable energy, market rate housing, affordable housing, private equity and construction management services with nine offices and staff across the United States.
Bank of America Merrill Lynch Valerie A. Williams, SVP, Client Manager 901 Main Street, 20th Floor, Dallas, TX 75202-3714 214.209.3219 valerie.a.williams@baml.com www.bankofamerica.com/community
Gardner Capital Development
As you work to transform lives and communities, connect with more than 30 years of community development experience, expertise and commitment at Bank of America Merrill Lynch. Whether you need tax-credit investments, flexible lending or other financial services, we can help you move projects to completion. We’ve committed $1.5 trillion to community development over the last 10 years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.
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&
p a r t n E r
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E x H i B i t o r
&
p a r t n E r
Hud Keynote lunch sponsors
Wine Trail sponsors
JLL Capital Market
Goodman Mgf. Co LP
John Sabatier, Executive Vice President 28050 US Hwy 19 N., Suite 500, Clearwater, FL 33761 1 (727) 437-4913 + John.sabatier@am.jll.com www.us.jll.com/capitalmarkets
Dick Rydzeski, Director National Accounts 5151 San Felipe, Suite 500, Houston, TX 77056 713.263.5249 + dick.rydzeski@goodmanmfg.com www.goodmanmfg.com
JLL is a full-service global provider of capital solutions for real estate investors and occupiers. Our U.S. Capital Markets specialists completed over $23 billion in debt and equity financing transactions in 2015. As one of the nation’s largest multifamily lenders, we maintain strong relationships with Fannie Mae, Freddie Mac and HUD/Ginnie Mae, and were named a top affordable housing lender in 2015 by both Fannie Mae and Freddie Mac. Blazer Building Inc Jim Wanja 713.914.9200 voice 713.914.9292 fax 281.833.1083 direct jwanja@blazerbuilding.com www.blazerbuilding.com Blazer Building founded in 1978 as a general construction company focused on delivering highquality product on an expedited schedule at the best possible value. Blazer is dedicated to providing personalized attention to our clients, believing strongly in a relationship-based approach to business. Blazer provides construction services through a number of platforms including General Contracting; Self-Performed Work; Construction Management; and Design-Build. Over our 38 year history, Blazer Building has overseen the construction of more than 33,000 apartment homes totaling over $1.5 billion in contract value
Keynote lunch
D i r E c t o r y
We’ve been building Goodman® brand air conditioning and heating equipment since 1982. Given our more than 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.
Ryan Companies US, Inc. David Knoll, Director of Development 111 Congress Avenue, Suite 1850, Austin, TX 78701 512.493.5908 + david.knoll@ryancompanies.com www.ryancompanies.com Ryan Companies is a leading national commercial real estate firm offering integrated design-build, development and real estate management services to customers. Over the past 78 years, Ryan has been involved in a variety of projects across the United States. Our experience spans the full range of commercial product types and includes a significant portfolio of market rate and affordable apartment developments.
specialty sponsor
specialty sponsor
E x H i B i t o r
JP Morgan Chase David H. Saling, Executive Director/Senior Commercial Banker 221 West Sixth Street, Floor 2, Austin, TX 78701 512.479.2218 + david.h.saling@chase.com www.chase.com/cdb
Wednesday brunch
Chase takes pride in working to develop vibrant and diverse communities capable of sustaining a high quality of life and economic opportunity. We distinguish ourselves as a national leader in community development by expanding access to capital, providing leadership by example, and delivering comprehensive community development solutions of our global bank. By providing the financial resources needed to grow and develop, Chase is leading the way to help strengthen communities across America.
Michael C. Gardner, Principal 8000 Maryland Ave., Ste. 910, Clayton, Missouri 63105 Direct: 314.561.5901 Cell: 214.842.0215 Fax: 314.963.9995 Email: michael@gardnercapital.com Gardner Capital Development: Developing Partnerships, Building Communities, Changing Lives
Wine Trail sponsors
Gardner Capital owns and operates several businesses throughout the United States, specifically focusing on housing and renewable energy development, investment and syndication of tax credits. Gardner has invested more than $1 billion of equity to provide affordable housing in over 50 communities. The principals, Mark Gardner and Michael Gardner, continue to expand the national footprint of renewable energy, market rate housing, affordable housing, private equity and construction management services with nine offices and staff across the United States.
Bank of America Merrill Lynch Valerie A. Williams, SVP, Client Manager 901 Main Street, 20th Floor, Dallas, TX 75202-3714 214.209.3219 valerie.a.williams@baml.com www.bankofamerica.com/community
Gardner Capital Development
As you work to transform lives and communities, connect with more than 30 years of community development experience, expertise and commitment at Bank of America Merrill Lynch. Whether you need tax-credit investments, flexible lending or other financial services, we can help you move projects to completion. We’ve committed $1.5 trillion to community development over the last 10 years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.
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STIFEL WAS RANKED THE #1 NATIONAL UNDERWRITER OF MULTIFAMILY HOUSING BONDS FOR 2015* A LEADING INVESTMENT BANK SPECIALIZING IN AFFORDABLE HOUSING FINANCE Stifel, Nicolaus & Company, Incorporated, founded and headquartered in St. Louis, Missouri, in 1890, is a publicly held company traded on the New York Stock Exchange. Stifel has long established itself as a leading underwriter of multifamily housing bonds. Over the years, Stifel has demonstrated a leadership position in the structuring and marketing of multifamily housing securities. As a national leader in multifamily housing finance, we help our clients achieve strategic objectives through comprehensive investment banking services, in-depth housing sector knowledge, debt structuring, and trading expertise. EXPERTISE INCLUDES Bonds secured by FHA-Insured mortgages
■
RANKINGS As noted by the chart below, Stifel (including its acquired Merchant Capital Division) was the #1 ranked underwriter of multifamily housing bond issues for four of the past five years, based on the number of issues brought to market. Experience matters, and accordingly, we have underwritten more multifamily housing issues than any other firm in the nation during that time period. Stifel’s National Multifamily Housing Rankings for 2011-2015 Year
Rank
# of Issues
2015
1
44
2014
1
41
2013
1
27
2012
2
26
2011
1
29
The data presented includes transactions effected and matters conducted by Stifel, Merchant Capital LLC (acquired by Stifel Financial Corp. in 2014).
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Fannie Mae and Freddie Mac credit-enhanced bonds
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Private Placements
FOR MORE INFORMATION, CONTACT:
■
Collateralized short-term multifamily housing bonds
MONTGOMERY
ATLANTA
SEATTLE
Standard & Poor’s and Moody’s project rated multifamily bonds
John B. Rucker III Managing Director (334) 834-5100 ruckerj@stifel.com
Cody N. Wilson Director (404) 504-2785 wilsonco@stifel.com
Dan Dill Managing Director (425) 455-8122 dilld@stifel.com
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Multifamily housing bond securitization transactions
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501(c)(3) bond financings
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Rental Assistance Demonstration (RAD) program bonds
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USDA Rural Development pooled financings
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Section 8 secured housing bonds
Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com
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Fred W. (“Ty”) Tyson Vice President (334) 834-5100 tysont@stifel.com
David Dill Vice President (425) 455-8122 daviddill@stifel.com *Source: Thomson Reuters
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Texas Affordable
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Magazine
2 0 1 6 T e x a s A f f o r d a b l e H o u s i n g M a g a z i n e
Brays Crossing New Hope Housing
Issue 7 - 2016