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AFFORDABLE HOUSING

The significant undersupply of safe, affordable housing in America is a complex crisis that must be resolved. Thankfully, there are capable and passionate people working tirelessly to address the deficiency of affordable housing inventory and the resulting housing cost burden on our society. I am personally proud to be a part of this effort.

Much of the affordable housing shortage is related to the economics associated with multi-housing debt and equity capital. There is an “Economic Law” that says, “Capital will naturally seek its highest return”. Due primarily to the lower rent levels associated with affordable housing, economic returns available to capital providers are lower than what can be achieved via other asset classes. Consequently, on a relative basis, less capital enters the affordable housing space which in turn constrains the supply of affordable housing. 

Thankfully, there are various “subsidy” programs in the market to help bridge this return on capital differential. These programs and products are provided at both Federal and State levels in the form of Low-Income Housing Tax Credit incentives (LIHTC) as well as affordable lending programs offered by HUD-FHA, Fannie Mae, Freddie Mac, Banks, etc. 

I have been very actively involved in the affordable housing finance sector for over 30 years. As a result, I know the nuances associated with LIHTC syndications, State allocations, GSE affordable finance criteria and other affordable housing incentives such as property tax abatements, density variances and so on. 

I was especially proud to lead one of the premier affordable housing finance platforms in industry. We provided billions of affordable housing finance capital across the country which helped create many thousands of new affordable units and many thousands of rehabilitated and preserved affordable housing units. 

I also had the privilege of working for three years as part of one of the largest and most impactful affordable housing non-profits in the country – an organization that changed lives every day through its tireless advocacy on behalf of growing and preserving the availability of affordable housing across the Country.

My primary work purpose/focus is in the affordable housing sector which allows me to join others who are “making a difference”!    

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