Texas Affordable Housing Magazine 2019

BUILDING A BETTER TOMORROW Texas Affiliation of Affordable Housing Providers Issue 10 ~ 2019

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Legal Counsel for the Development of Affordable Housing

THE COATS ROSE AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT GROUP We 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.

Our attorneys routinely structure complex transactions providing comprehensive solutions that utilize all aspects of financing in the affordable housing arena.

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NEWMARK KNIGHT FRANK (NKF) AFFORDABLE HOUSING GROUP delivers advisory and brokerage services to owners of multifamily properties financed with Low Income Housing Tax Credits, Tax Exempt Bonds, and other HUD programs. We leverage our experience in financing tax exempt bonds, FHA loans, and agency loans for affordable housing. We also understand that a successful exit strategy for affordable housing requires diligence and experience navigating through partnership agreements, regulatory agreements, and subsidy agreements.

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PETE HOOVER 512.637.1229 pete.hoover@ngkf.com

DAVID FOURNIER, MAI 512.637.1235 david.fournier@ngkf.com

CHRIS BERGMANN ANIEKAN UDOH 713.300.7940 713.300.7963 chris.bergmann@ngkf.com aniekan.udoh@ngkf.com

CHERYL HIGLEY 512.676.5525 cheryl.higley@ngkf.com

FOR MORE INFORMATION ABOUT NKF AFFORDABLE HOUSING GROUP: www.aranewmark.com/national-practice-groups/affordable-housing.html

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www.bokfinancial.com Lisa Albers Community Development | 918.588.6420

Pamela Black Corporate Trust | 817.348.5797

© 2019 BOK Financial Corporation. Services provided by BOKF, NA. Member FDIC. BOKF, NA is the banking subsidiary of BOK Financial Corporation. Equal Housing Lender.

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D P C

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Years

www.sethfc.com Te 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

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MUNICIPAL SECURITIES GROUP

STIFEL, NICOLAUS & COMPANY, INCORPORATED WAS RANKED THE #1 NATIONAL UNDERWRITER OF MULTIFAMILY HOUSING REVENUE BONDS FOR 2018* A LEADING INVESTMENT BANK SPECIALIZING IN AFFORDABLE HOUSING FINANCE Stifel, Nicolaus & Company, Incorporated, founded in 1890 and headquartered in St. Louis, Missouri, is a publicly held company traded on the New York Stock Exchange. Stifel has long established itself as a leading underwriter of multifamily housing revenue 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.

EXPERIENCE INCLUDES ●

Bonds secured by FHA-insured mortgages

●

Fannie Mae and Freddie Mac credit-enhanced bonds

●

Fannie Mae M.TEB (forward + immediate delivery)

●

Private Placements

●

Collateralized short-term multifamily housing bonds

●

Standard & Poor’s and Moody’s unenhanced projectfinance rated bonds

●

Rental Assistance Demonstration (RAD) program bonds

●

USDA Rural Development pooled bond financings

RANKINGS As noted by the chart below, Stifel, Nicolaus & Company, Incorporated (including its acquired Merchant Capital Division) was the #1 ranked underwriter of multifamily housing revenue bond issues for the past six 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.

NATIONAL MULTIFAMILY HOUSING INVESTMENT BANKING RANKINGS FOR YEARS 2013-2018 YEAR

RANK

# OF ISSUES

2018

1

70

2017

1

69

2016

1

53

2015

1

44

2014

1

41

2013

1

27

Source: Thomson Reuters SDC as of 1/2/2019.

Rankings based on the number of national negotiated transactions brought to market and closed from January 1 through December 31 of each year The 2018 number includes 11 secondary market tax-exempt securitizations that Stifel underwrote for the Freddie Mac TEL Program

MULTIFAMILY HOUSING INVESTMENT BANKING TEAM CONTACTS MONTGOMERY OFFICE

ATLANTA OFFICE

SEATTLE OFFICE

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John B. Rucker, III +1 (334) 834-5100 ruckerj@stifel.com

Cody N. Wilson +1 (404) 504-2785 wilsonco@stifel.com

Dan Dill +1 (425) 455-8122 dilld@stifel.com

John Sabatier +1 (727) 871-1408 sabatierj@stifel.com

William (“B.J.”) Biggio +1 (334) 834-5100 biggiow@stifel.com

David Dill +1 (425) 455-8122 daviddill@stifel.com

Sue Alley +1 (334) 834-5100 alleys@stifel.com Carter Brown +1 (334) 834-5100 brownc@stifel.com Source: Thomson Reuters SDC * Rankings based on the number of national negotiated transactions brought to market and closed from January 1, 2018 through December 31, 2018.

Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com

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R4 CAPITAL

TA B L E O F

Contents GENERAL

F E AT U R E S

10

Contributors

12

Leadership

33

ARTICLES & ADS

BOARD OF DIRECTORS

Affordable Housing Success Stories

16

70

Then & Now

AFFORDABLE HOUSING IN

30

DAN MARKSON

33

52

Full Speed Ahead

DAVID GASSON, HOUSING ADVISORY GROUP / BOSTON C A P I TA L

25

T H E 2 1 ST C E N T U R Y

Remembering

Positive Developments on the Housing Affordability Front A N U P D AT E F R O M N A H B

SPOTLIGHT

52

CONFERENCE

Industry Progress

8 6 t h L E G I S L AT U R E : M A K I N G STRIDES FOR AFFORDABLE HOUSING

48

Don’t Be Blindsided

by Cost Certification Requirements TIDWELL GROUP

68

Schedule at a Glance

QUICK GUIDE 2019

78

Full Schedule

80

Special Events

81

Keynote Speakers

82

Education

96

Topgolf

T H R E E D AY S O F VA L U E

NETWORKING

SPEAKER TOPICS

WORKSHOPS & BREAKOUT SESSIONS

NETWORKING & SCHOLARSHIP FUNDRAISER

104

Sponsors

106

Exhibits

BUSINESS DIRECTORY

NETWORK & CONNECT TO BUILD YOUR BUSINESS

25 65 96

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A

M E S S A G E

F R O M

T

ogether with ONE VOICE for the Future of Affordable Housing in Texas! Every TAAHP action, decision, and significant moment in the past year has been through this collaborative lens.

I made a conscious decision to hold TAAHP meetings and activities throughout the state. I want to thank your dynamic Board of Directors for traveling from city to city.

Thanks to Kristi Sutterfield and members of the Conference and Education Committees for organizing what has become one of the largest “must attend” networking and educational conferences for affordable housing professionals in the country.

T H E

P R E S I D E N T

we will refocus on what remains unfinished, including creating certainty in property tax assessments and revising regulations serving as barriers to greater housing production.

In the interim, we will rely on the QAP and Compliance Committees to do the important job of weighing in on regulatory changes that influence our industry. Under the watchful eyes of the leaders of these committees, Audrey Martin, Jean Latsha and Jen Brewerton, we continue to garner consensus and bring thoughtful creative solutions that accomplish the goals of both TDHCA and our membership.

I am grateful to Roger Arriaga, our dynamic Executive Director, who has spent this Our year began with a strategic planning last year creating greater value for TAAHP retreat in September, where the Board members. He brought together a team of TAAHP President identified goals to secure the long-term professionals focused on membership services, sustainability of our valued organization. including increased effective and consistent These strategies not only helped guide my year but also will continue communication on legislative and relevant federal, state, and local as Dan Kierce begins what I know will be a prosperous tenure as topics influencing our industry. Our entire communications strategy President of TAAHP. From strengthening our agency and legislative was refined, including a redesigned website and education materials relationships to growing and efficiently managing finances, each of promoting the value of what our industry does for the economy. these goals meets the vision of inspiring and engaging our members By forming strong alliances with local, state, and federal trade and stakeholders to end the affordable housing crisis in Texas. associations throughout Texas, he has elevated the conversation about our industry and brought affordable housing to the forefront of every In the continued spirit of collaboration, TAAHP, the Texas Association of conversation about economic development.

Local Housing Finance Agencies (TALHFA) and Rural Rental Housing

Debra Guerrero

gathered at the Capitol for Rally Day in February. Over 200 industry professionals met and discussed our housing priorities with every one of our 150 State Representatives and 31 State Senators. These discussions led to a Legislative Session where TAAHP actively weighed in on nearly every housing decision that was proposed.

The 86th Legislative Session brought a mixed bag of successes and challenges. I want to begin by thanking the members of the TAAHP Governmental Affairs Committee, all of whom dedicated hours of time and tremendous energy advocating for bills on behalf of our industry and ensuring that those in conflict with industry priorities did not become law. Our critical successes included enthusiastically participating in the redrafting of the private activity bond statute (SB 1474). This legislation under Senator Eddie Lucio’s leadership increases the bond opportunities for tax-exempt financing and 4% tax credit, which will get more multifamily units on the ground quicker.

Additionally, we worked very closely with the new Urban Affairs Chair Angie Chen Button, who crafted a piece of legislation (HB 1973) that provides some relief in the State Representative letter process by allowing state elected officials to opt out of the process if they so choose. This scoring item continues to be a challenging requirement to eliminate, but this Session we made definite inroads to resolve it in the future. We were proud to support eliminating rules in disaster relief areas that served as a deterrent to recovery efforts. Next session,

The TAAHP Scholarship Fund is another of our accomplishments that deserves particular recognition. I want to give kudos to outgoing Board Member Tom Dixon of Boston Capital for his leadership as Chair of the Scholarship Committee. He steadfastly worked to increase the amount and expand the reach of money raised to support the college goals of students living in our affordable communities.

Finally, I want to thank YOU, the TAAHP family, for allowing me the opportunity to serve as President. I join an illustrious group of industry leaders that have brought this organization to where we are now. In addition to the support of my remarkable colleagues at The NRP Group, I have been blessed with a multitude of madrinas and padrinos who have mentored, advocated, and promoted my professional career in affordable housing. However, it all began with my friend and boss, the visionary Dan Markson who in 2004 took my passion and experience as a local elected official and focused it on an opportunity to generate over 17,000 units of affordable housing for seniors and families in Texas. Losing his generous heart, brilliant concepts, and creative financing ideas is a tremendous loss for all of us, both in the industry and personally. Nevertheless, we will carry forward and harness the strength and spirit of all of those who have been on the front lines of this noble profession and continue to bring affordable, safe, high-quality places that our children, families, and seniors are proud to call HOME! Te 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

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C O N T R I B U T O R S

&

C R E D I T S

CONTRIBUTORS

CREDITS

National Association of Home Builders

Published By

POSITIVE DEVELOPMENTS ON THE HOUSING AFFORDABILITY FRONT

David Gasson, Housing Advisory Group / Boston Capital FULL SPEED AHEAD

Kevin E. Allmandinger, CPA and Bart W. Perry, CPA Tidwell Group DON’T BE BLINDSIDED BY COST C E R T I F I C AT I O N R E Q U I R E M E N T S

TAAHP Staff Roger Arriaga, Executive Director and Kendra Garrett, Policy & Regulatory Manager INDUSTRY PROGRESS 8 6 T H L E G I S L AT U R E : M A K I N G S T R I D E S FOR AFFORDABLE HOUSING

WIFI PASSWORD 2019THC

CONNECT TO FAIRMONT_MEETING

T E X A S A F F I L I AT I O N O F A F F O R D A B L E HOUSING PROVIDERS

221 E. 9th Street, Suite 408, Austin, TX 78701 (512) 476-9901; www.taahp.org

Advertising, Sponsorship Sales & Conference Education Management K R I ST I S U T T E R F I E L D, C O N F E R E N C E DIRECTOR

ksutterfield@taahp.org

Publisher

ROGER ARRIAGA, EXECUTIVE DIRECTOR

roger@taahp.org

Art Director / Design / Editor

N A O M I B L U D W O R T H , C O M M U N I C AT I O N S DIRECTOR

naomi@taahp.org

Contributing Editor

Contributing Editor

katie@taahp.org

kendra@taahp.org

K AT I E H O O K S , O P E R A T I O N S & E V E N T S MANAGER

K E N D R A G A R R E T T, P O L I C Y & R E G U L AT O R Y MANAGER

On the Cover: Costa Biscaya - Photo Courtesy of The NRP Group

Although every attempt is made to be as comprehensive and accurate as possible, the Texas Affiliation of Affordable Housing Providers (TAAHP) and its affiliates are not responsible for any misprints, errors, omissions, deletions, or the accuracy of the information in the publication. TAAHP and its affiliates do not accept responsibility for any loss, injury or inconvenience sustained by anyone using this publication. Information may have changed since print date.

Copyright© 2019 by the Texas Affiliation of Affordable Housing Providers. All rights reserved. No part of this publication may be reproduced or transmitted in any form, by any means, electronic, mechanical, photocopying or otherwise without the written permission of the Publisher. The Texas Housing Conference™ is a protected trademark.

ADVERTISERS AGM Financial Services, Inc.. . . . . . . . . . 77 AMTEX Multi-Housing. . . . . . . . . . . . . . .23 Bank of America Merrill Lynch. . . . . . . . 64 BBVA USA. . . . . . . . . . . . . . . . . . . . . . . . . 57 Berkadia. . . . . . . . . . . . . . . . . . . . . . . . . . IBC Housing Lab by Betco. . . . . . . . . . . . . . . 76 Blazer Building Texas, LLC . . . . . . . . . . . 54 BOK Financial. . . . . . . . . . . . . . . . . . . . . . . 3 Capital One Bank. . . . . . . . . . . . . . . . . . . 34 CBRE Affordable Housing. . . . . . . . . . . 103 CenterPoint Energy. . . . . . . . . . . . . . . . . 62 Centrant Community Capital. . . . . . . . . 24 Citi Community Capital . . . . . . . . . . . . . 37 Coats Rose, P.C.. . . . . . . . . . . . . . . . . . . . . 1 CohnReznick . . . . . . . . . . . . . . . . . . . . . . BC Community Housing Resource Partners. . . . . . . . . . . . . . . 59 CREA, LLC. . . . . . . . . . . . . . . . . . . . . . . . . 54 Cross Accounting Solutions. . . . . . . . . 149 Dauby O’Conner & Zaleski, LLC . . . . . . 147 Davis-Penn Mortgage Co.. . . . . . . . . . . 151 Diamond Property Consultants. . . . . . . . 4 Dominium, Inc.. . . . . . . . . . . . . . . . . . . . 61 Dwight Capital . . . . . . . . . . . . . . . . . . . 147 10

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Element Architects. . . . . . . . . . . . . . . . .148 Goodman Manufacturing. . . . . . . . . . . . 75 Gulf Loss Consultants. . . . . . . . . . . . . . . 72 Highridge Costa . . . . . . . . . . . . . . . . . . . 74 Hudson Housing Capital . . . . . . . . . . . . 19 Hunt Companies. . . . . . . . . . . . . . . . . . . 43 JLL Capital Markets. . . . . . . . . . . . . . . . . 72 JP Morgan Chase Bank. . . . . . . . . . . . . . 22 Katopody, LLC. . . . . . . . . . . . . . . . . . . . . . 43 KeyBank Real Estate Capital. . . . . . . . . . 74 LDG Development. . . . . . . . . . . . . . . . . 148 Locke Lord, LLP. . . . . . . . . . . . . . . . . . . . . 15 Mayfair Management Corp. . . . . . . . . . 47 National Church Residences . . . . . . . . . 34 National Equity Fund . . . . . . . . . . . . . . . 47 Newmark Knight Frank. . . . . . . . . . . . . . . 2 Novogradac & Company, LLP. . . . . . . . . 97 NRP Construction Services. . . . . . . . 20, 68 PNC Bank, National Association . . . . . . 45 Portfolio Resident Services. . . . . . . . . . . IFC Prospera Property Management. . . . . 149 R4 Capital, LLC. . . . . . . . . . . . . . . . . . . . . . 7 Rainbow Housing Assistance Corp. . . 102 Raymond James Tax Credit Funds. . . . . 13

RBC Capital Markets. . . . . . . . . . . . . . . . 40 Red Stone Equiity Partners. . . . . . . . . . . 14 Regions Affordable Housing. . . . . . . . . 62 Seldin Company. . . . . . . . . . . . . . . . . . . 45 Shacklford Bowen McKinley & Norton. . . . . . . . . . . . . . . . . . . . . . 21 Sonoma Housing Advisors. . . . . . . . . . 152 Southeast Texas Housing. . . . . . . . . . . . . 5 Stifel, Nicolaus & Company, Inc. . . . . . . . 6 SVN Affordable / Lavental Realty. . . . . . 97 Texas Affiliation of Affordable Housing Providers. . . . . . . . . . . 20,76 Texas Association of Local Housing Finance Agencies. . . . . . . . . . . . . . . . . . . . . 102 Texas Department of Housing & Community Affairs. . . . . . . . . . . . . 150 The Richman Group/Affordable Housing Corp.. . . . . . . . . . . . . . . . . . 75 Tidwell Group. . . . . . . . . . . . . . . . . . . . . . 51 Wells Fargo . . . . . . . . . . . . . . . . . . . . 32, 51 Wilhoit Properties. . . . . . . . . . . . . . . . . . 63

F R O M

T A A H P

L E A D E R S H I P

TAAHP Board of Directors

W E L C O M E

Top Row, Left to Right: Debra Guerrero, President; K. Nicole Asarch, Immediate Past President; Dan Kierce, President-Elect Second Row, Left to Right: Janine Sisak, First VP; Chris Akbari, Second VP; Chris Thomas, Treasurer; Scott Marks, Secretary Bottom, Left to Right: Bobby Bowling, Mahesh Aiyer, Terri Anderson, Jen Brewerton, Ellie MC Fanning, Tom Dixon, Nathan Kelley, Jean Latsha, Audrey Martin, Mark Mayfield, Lora Myrick, David Saling, Jim Smith, Valerie Williams

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A

M E S S A G E

F R O M

T H E

E X E C U T I V E

W

elcome to the 2019 Texas Housing Conference! We have had a tremendous year. Since our last conference, your TAAHP staff and board of directors have been working hard to set a lasting foundation for our industry’s success.

Over the last year, our legislative and regulatory advocacy, events, and member engagement has increased our impact and established TAAHP as a critical stakeholder in the discussion of affordable housing.

Roger Arriaga

D I R E C T O R

ways we communicate with our members and friends. Information highlighting our activity and providing the latest information on affordable housing industry issues are now readily available in our TAAHP Affordable Housing Insider and Legislative Update newsletters. We also now have a consistent presence on social media with very active feeds on Twitter, Facebook, and LinkedIn. Further, we’ve launched a new, mobile-friendly website and developed an entirely separate one for the Texas Housing Conference! Be sure to review the studies and tools we provide for our members at www.TAAHP.org.

Executive Director, TAAHP 86th Legislature Impact We had a very active legislative Since last year, we have also made great improvements to session that started with our 2019 Rally Day. Under the theme, make your TAAHP experience as smooth as possible. In March, “One Voice,” TAAHP partnered with the Texas Association of we launched a new member management system that makes Local Housing Finance Agencies (TALHFA) and Rural Rental membership and event registrations much more seamless. It will Housing Association of Texas (RRHA) to span the Texas Capitol also allow us additional functionality that we will use for future to convey our legislative agendas. Rally Day attendees met improvements. with legislators and key staff in the offices of the Governor, None of these would be possible without a great TAAHP team.

Lieutenant Governor, and Speaker of the House emphasizing our Many thanks to Katie Hooks (Operations and Events), Naomi messages surrounding consistent tax appraisals, bond program Bludworth (Communications), and Kendra Garrett (Policy and restructuring, and the removal of letters by state representatives Regulatory Analysis) for their work in helping us achieve new for tax credit applications. TAAHP representatives also met with levels of efficiency and effectiveness!

TDHCA leadership to explain our policy initiatives, which were well received.

Strong Board Expertise and Commitment Throughout the session, TAAHP members were front and These improvements and more have been made possible center providing testimony in bill hearings and meeting with through your membership and guidance from your very elected officials. By the end of the 86th Legislature, TAAHP and committed board of directors. Board President Debra Guerrero partners can claim legislative success in initiatives that made brought tremendous energy, engagement, and insight in significant progress and the passage of a number of bills that her year leading our board. Not only was she instrumental in are now law. Some of these include a letters bill that requires guiding our legislative strategies throughout this important more commitment from state representatives, a bill allowing for session, but she also represented our membership well by disaster recovery property tax exemptions, and a comprehensive participating in every TAAHP committee! As she hands the reigns bond fix bill that allows much more flexibility in the program. of our board to incoming President, Dan Kierce, we stand on Perhaps our most significant success was that our member stronger ground and prepared to expand our reach. Thank you, engagement and advocacy efforts led TAAHP to be widely President Debra Guerrero and the 2018-19 board of directors. recognized as a key stakeholder in affordable housing legislative Building a Better Tomorrow and policy deliberations.

Thank you for attending the 2019 Texas Housing Conference.

TAAHP - Stepping Up the Game TAAHP represents the business of affordable housing by bringing If you’ve been watching us over the last year, you’ve seen that human and financial capital to the issue of affordable housing.

The Texas Housing Conference sets the stage for statewide TAAHP has made great strides in several key areas, including affordable housing initiatives across the state of Texas. This is government affairs, communications, and relationship-building. where it all comes together.

In addition to our legislative engagement, we expanded the

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Community.

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I M PA C T F U L I N V E S T M E N T S I M P R OV I N G CO M M U N I T I E S

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Locke and Key.

Committed to Improving Lives and Neighborhoods.

Welcome Home. The key to quality legal services is a diverse range of experience. Locke Lord is helping our clients build, preserve, finance and operate affordable housing coast-to-coast. We represent developers, non-profit organizations, investors, lenders, governmental agencies and other associations, spanning the affordable housing industry.

We work with properties at all stages, from the formative financing phase through repositioning at the end of a compliance period. Our Affordable Housing lawyers are committed to our clients and to the transformative power of affordable housing.

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N AT I O N A L A S S O C I AT I O N O F H O M E B U I L D E R S

POSITIVE DEVELOPMENTS

on the HOUSING AFFORDABILITY FRONT

I

n a key victory for NAHB, President Trump on June 25 put housing at the forefront of the national debate by signing an executive order that cites the need to cut costly regulations that are hampering the production of more affordable housing in America.

NAHB Chairman Greg Ugalde attended the White House signing ceremony and issued the following statement afterwards:

“NAHB applauds President Trump for making housing a top national priority. With housing affordability near a 10-year low, the president’s executive order on this critical issue underscores that the White House is ready to take a leading role to help resolve the nation’s affordability crisis.

“Given that homeownership historically has been part of the American dream and a primary source of wealth for most American households, the need to tackle ongoing affordability concerns is especially urgent.

As we celebrate National Homeownership Month, we must ensure that homeownership remains in reach for younger and future generations. This can be achieved by providing access to affordable rental housing and growing the inventory of for-sale housing, particularly at the entry-level.

“NAHB analysis has found that regulations account for nearly 25 percent of the price of building a single-family home and more than 30 percent of the cost of a typical multifamily development. We are pleased that the president’s executive order calls for the formation of a White House Council chaired by HUD Secretary Ben Carson that will seek to reduce regulatory barriers that are making housing more costly.”

Addressing the housing affordability crisis is the association’s top priority. A worsening shortage of affordable housing is hurting families and communities nationwide and threatens to derail the current economic expansion. Rising costs stemming from excessive regulations, a persistent lack of construction workers, tariffs 16

Te 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

on lumber and other key building materials, growing mortgage liquidity concerns, and inefficient zoning rules are having a negative effect on housing affordability.

Teachers, firefighters, police officers – and many others who make up the backbone of our communities – are finding it increasingly difficult to live in the cities and towns where they work. Supporting new residential construction will make our communities stronger, more inclusive and more economically competitive while boosting local tax bases.

During the first week in June, NAHB and HUD cosponsored the Innovative Housing Showcase which took place on the National Mall. The event provided a great opportunity to shine a spotlight on the nation’s housing affordability crisis and to seek meaningful solutions.

Industry and policy experts – including Cabinet secretaries, members of Congress and NAHB leaders -- participated in several seminars with the goal to seek innovative solutions to make housing more affordable.

Exhibitors also featured model homes and new technologies designed to increase affordability.

The Housing Showcase was a great opportunity for NAHB to get the message out that ongoing housing affordability concerns is a top national issue that must be addressed by policymakers.

And on June 5, nearly 700 builders went to Capitol Hill and held 300 individual meetings with their representatives and senators as part of NAHB’s 2019 Legislative Conference.

Builders delivered an important message to members of Congress: There is an urgent need to implement practical solutions to ease the nation’s affordability woes and enable more families to achieve homeownership or have access to affordable rental housing.

CONTINUED ON NEXT PAGE

Rents are rising at twice the rate of overall inflation.

Specifically, builders called on lawmakers to act in the following areas:

>> Workforce and immigration. A chronic labor shortage in the housing industry is resulting in higher construction costs, increased home prices and lower economic growth. NAHB urged lawmakers to create a new, market-based guest worker program for the construction sector that will complement ongoing vocational training efforts and help fill labor gaps.

Lawmakers were also encouraged to increase funding for job training programs to prepare individuals for careers in home building.

>> Low-Income Housing Tax Credit. To help spur the pro-

duction of badly needed affordable rental housing, NAHB urged lawmakers to pass the Affordable Housing Credit Improvement Act. Introduced in the House and Senate earlier this month, the bipartisan legislation would improve the Low-Income Housing Tax Credit by establishing a permanent minimum 4 percent credit floor for acquisition and bond-financed projects. This would provide more flexibility in financing projects and significantly increase unit production. The legislation would also increase 9 percent credit allocations by 50 percent.

>> Trade policy. Builders asked their lawmakers to call on the

administration to end tariffs on imports of softwood lumber, steel, aluminum and a wide variety of other goods used by the home building industry that are needlessly raising housing costs. NAHB also called on Congress to ensure swift ratification of the United States-Mexico-Canada Agreement, which holds the potential to lift the housing economy.

>> Housing finance reform. Uncertainty about the housing

finance system stymies investment and slows the housing market. NAHB called on Congress to pass bipartisan housing finance legislation that would reform the current system and provide certainty to the marketplace, while maintaining an appropriate level of government support for housing in all economic and financial conditions.

>> National Flood Insurance Program. To continue the stability and growth of the housing market, it is essential that the National Flood Insurance Program (NFIP) remains available, affordable and financially stable. NAHB called on lawmakers to pass a long-term NFIP reauthorization.

>> Building energy codes. NAHB urged Congress to require

any code or proposal supported by the Department of Energy to have a payback period of 10 years or less.

NAHB will continue to work with the White House, HUD Secretary 18

Te 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

Ben Carson and Congress to ease the nation’s housing affordability woes.

Meanwhile, the Harvard Joint Center for Housing Studies on June 25 released key findings from its 2019 State of the Nation’s Housing Report that reiterates the challenges facing builders to produce homes that are affordable and meet the needs of increasingly diverse households.

Despite a solid economy, rising wages and household growth that is now back from post-recession lows, new home construction remains depressed, due to supply-side challenges that are making it increasingly more difficult to build at affordable price points. Meanwhile, cost-burden rates for modest-income renter households continue to rise and the issue of rental affordability is increasingly getting attention at the state and local level.

These are among the key findings of the Harvard study.

In a press release accompanying the report, Chris Herbert, managing director of the Joint Center for Housing Studies, said the most significant factors contributing to the slow construction recovery are rising land prices and regulatory constraints on development.

“These constraints, largely imposed at the local level, raise costs and limit the number of homes that can be built in places where demand is highest,” he said. The limited supply of smaller, more affordable homes in the face of rising demand suggests that the rising land costs and the difficult development environment make it unprofitable to build for the middle market.”

The report also finds:

>> Affordability conditions vary widely across the nation, with the West Coast generally much less affordable than metro areas in the Midwest and South.

>> Rents are rising at twice the rate of overall inflation. >> The market continues to lose lower-cost rental units, with the number of units renting for under $800 down by 1 million in 2017.

Addressing growing affordability challenges will require the public and private sector to work together, the study noted.

“To ensure that the market can produce homes that meet the diverse needs of the growing U.S. population, the public, private, and nonprofit sectors must address constraints on the development process,” said Herbert. “And for the millions of families and individuals who struggle to find housing that fist their budget, public efforts will be necessary to close the gap between what they can afford and the cost of producing decent housing.”

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Te 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

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TA A H P L E G I S L AT I V E U P D AT E

Industry progress

86 TEXAS LEGISLATURE TH

T W E N T Y- N I N E T E E N

MAKING STRIDES FOR AFFORDABLE HOUSING

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TA A H P L E G I S L AT I V E U P D AT E A MESSAGE FROM THE CHAIRMAN

I

t has been a great year serving as TAAHP’s Chairman of the Governmental Affairs Committee. I am immensely happy with the strides we made during the 86th Texas Legislature. Thank you to all of the members of the Governmental Affairs Committee, as well as Mike Warner and Todd Kercheval, our hard-working lobbyists and constant advocates. In addition, I would like to thank our peer associations, TALHFA, RRHA, TAA, and TAB, who collaborated with us to educate and advocate on our issues to legislators throughout the session. We had several successes to report this session as well as a framework for our priorities for the upcoming 87th Texas Legislature.

Over the past year, I have seen first-hand the importance and benefit of TAAHP’s efforts in legislative advocacy and the hard work it takes for success. Based on what we accomplished this session, I am excited about our prospects for the next one. Staff is already working to promote policy changes for the 87th Legislature by communicating our priorities to the House Urban Affairs and Senate Intergovernmental Relations Committees as they prepare interim reports, which will lay the seeds for new legislation into the next session.

Over the session, I really appreciated our Executive Director’s collaborative and thoughtful approach to our strategies while keeping everyone updated with the latest Governmental Affairs Committee Our approach to the 86th Legislature movements on our legislation. His consistent Chairman was straightforward. Armed with a strong engagement with our members, our lobbyists, committee, lobby team, and staff, we worked to limit legislation and elected officials along with the TAAHP team’s resources with that would be harmful to our industry while promoting bills a state-of-the-art tracking system and educational infographics, that would help provide critically needed affordable housing. which I believe are the best in the industry, helped make TAAHP a Although the session commenced on January 8, 2019 with a critical success as a stakeholder for our industry. changed landscape that included a new Speaker of the House, six As the incoming 2019-2020 President of the TAAHP Board of new Republicans, and 27 new Democrats, our work really started Directors, I am thrilled to continue working with TAAHP board by conducting a very successful Rally Day. Before legislative members, staff, and membership as we proceed in setting our committees were even set, TAAHP, TALHFA, and RRHA blanketed place as the central resource for affordable housing in Texas. This is the Capitol with our common messages with One Voice that an organization and an industry I am humbled to be a part of; and included several key legislative priorities: (1) Removal of Letters I am proud to be associated with the many hardworking members of Support from state representatives, (2) Clear, Consistent who volunteer their time and expertise to push our industry Property Appraisals, (3) QAP Education Quality modifications, and forward. There is still more work to do, but we are well-positioned (4) Exemptions to the 2-Mile/1-Year Rule. During the session, as to take it on. I am truly excited to continue the amazing work we watched all legislation, we were also proponents of legislation of the Presidents and board members who have come before that either removed impediments or simplified regulations me. I will do my best to do my part in helping to build a better for the development of affordable housing. By the end of the tomorrow, starting today! session, many of our supported bills made it to the Governor’s desk. Among these was a compromise bill regarding letters by state representatives. This effort progressed further than it had in previous sessions and is now signed into law. H.B. 1973 by Rep. Governmental Affairs Angie Chen Button provides options for state representatives Committee regarding letters of support.

Dan Kierce

Special Thanks

Additionally, we saw success in assisting a statutory change for the City of Houston by allowing exemptions to the 2-mile/1-year rule to assist their continued efforts toward Hurricane Harvey recovery.

There were also legislative wins that included less restrictive regulations on government-required building materials as well as limits to how building permits and fees may be linked to property value. We also made significant progress with near wins on tax credit property appraisals and education quality.

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Christopher A. Akbari, ITEX Group

Nathan Kelley, Blazer Building Texas

Danny Allgeier, Lakewood Property Management

Scott Marks, Coats Rose, P.C.

K. Nicole Asarch, Rock Real Estate Bobby Bowling, Tropicana Building

Lisa Stephens, Saigebrook Development

Debra Guerrero, The NRP Group

Mike Sugrue, Stoneleaf Companies

Toni Jackson, The Banks Firm

Janine Sisak, DMA Development Co.

TA A H P L E G I S L AT I V E U P D AT E

8 6 TH L E G I S L A T I V E S E S S I O N

MAKING STRIDES

By Kendra Garrett & Roger Arriaga

TAAHP and its partners actively kept the housing crisis in the policy conversation by advocating for several critical legislative goals.

Below: TAAHP President Debra Guerrero testifies in support of affordable housing bills at the House Urban Affairs Committee.

D

uring the Texas 86th Legislature, TAAHP and partners actively kept the affordable housing crisis in the policy conversation by advocating for several critical legislative goals and monitoring numerous others. Our focus was to:

• Increase supply and the equitable distribution of affordable housing

developments across the state by removing the statutory requirement for letters of support from a state representative from the Housing Tax Credit Program application process,

• Ensure clear and consistent property appraisals for Housing Tax Credit Properties, and

• Provide affordable housing in communities that need it most by reevaluating the education quality and the two-mile/one-year guidelines.

TAAHP on the Legislative Watch Of the thousands of bills submitted this session, roughly 20 percent of them passed into law. This rate is on par with previous legislative sessions.

This session, TAAHP tracked over 100 bills related to tax credits and affordable housing. More specifically, with the guidance of the Governmental Affairs Committee and lobby team, TAAHP supported 31 bills by providing cards of support and testimony and closely monitored the rest for progress and housing impacts. The session results included six high priority bills signed into law by the Governor, and one vetoed. See Table 1 for a statistical summary of the session. This is a huge win for TAAHP and we hope to accomplish more in the next session.

Bill Status

House Bills (HB)

Senate Bills (SB)

Total (HB + SB)

Introduced

4,765

2,559

7,324

969

460

1429

19.5%

17.4%

18.7%

Passed Veto

% Passed to Law

41

15

Bill Status

TAAHP Supported Bills

Introduced

31

Veto

1

Passed

% Passed to Law

Table 1: 86th Legislative Session Statistics 28

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7 19.4%

56

TA A H P L E G I S L AT I V E U P D AT E

8 7 T H L E G I S L AT I V E S E S S I O N

Photo: Shutterstock.com

With new laws in place, several topics, along with applicable TAAHP supported bills, highlighted below will soon impact our membership and the affordable housing industry.

Disaster Recovery

Disaster recovery received much attention this session, coming off the heels of Hurricane Harvey in 2017 and major flooding in 2018. New legislation included the creation of a task force to develop recovery plans and the development of financial assistance programs for remediation following future disasters. It also included property appraisal adjustments and exemption of the tax credit 2-mile/1-year rule for disaster impacted areas. Several bills signed into law were designed to help Texas communities find a sense of normalcy after disaster hits.

(See HB 6, HB 492, SB 493) Housing Tax Credit Program

All bills affecting the Housing Tax Credit (HTC) program generated much participation and attention by our members and peer organizations.

Among the most important is related to how letters of support from state representatives will now be addressed. Although TAAHP strongly supported the removal of these letters from the QAP process, the final bill retains them but essentially compels state representatives to provide their intent on QAP applications. They may still support or oppose any applications with letters, but should they opt to withhold their intent, the local government will determine how the points will be allocated. (See HB 1973) In addition, regulatory requirements and fees for construction materials and permits increase costs and hamper supply. We supported uniform changes to the plumbing code, prohibiting cities from changing fees based on the value of the property and implementing ordinances that exceed national code for building materials and methods. (See HB 852, HB 2439) Private Activity Bonds

LOOKING AHEAD As we begin looking toward the 87th Legislative Session, TAAHP will provide input during the interim on several priorities. Here’s what we can expect next session.

Housing Tax Credit Program Strikes Back Statutory changes that impact tax credit developments occur every session. Next session will be no different. We expect to revisit the issues of the vetoed education quality bill, the removal of state representative letters, and consistent implementation of tax appraisals in the next session. In addition, affordable housing preservation will be given a higher priority next session. The Texas Department of Housing and Community Affairs has placed preservation of HTC funded developments as a top discussion topic for stakeholders in the 2020 QAP. This issue is expected to be a high priority in future years.

(See HB 1215, HB 2993, HB 4370, SB 1830, SB 2250) State Tax Credits & Opportunity Zones

This session, there were bills that would have established a state-operated tax credit program to encourage building new affordable housing independently and by leveraging Opportunity Zones. Opportunity Zones are the latest federal program and financing tool used to spur community development in under served areas. (See HB 1937, HB 2397)

One of the most impactful pieces of legislation occurred with the state’s private activity bond program. The signed comprehensive bill was strongly supported by TAAHP and TALHFA. The bill provides significant improvements that will facilitate bond financed developments by modifying multifamily application fees, the allocation formulas, allocation collapse deadlines, and single project limits. It also includes indexing for growth so that it won’t require legislative action to modify caps in the future. (See SB 1474) Te 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

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Affordable Housing Credit Improvement Act of 2019

FULL SPEED AHEAD

By David Gasson Housing Advisory Group Boston Capital

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L

et’s go! To coin one of the catch phrases of a local New England football legend, “Let’s Go!” As a rallying cry it has proven effective on many occasions and is fitting as a call to action for the affordable housing industry today.

If you are asking why the call to action then I can only ask, how was your trip to the moon? For the rest of us we have been given an opportunity to help enact the most comprehensive piece of LIHTC legislation since the credit was enacted in 1986, even more so than the Housing and Economic Recovery Action of 2008 (HERA). The Affordable Housing Credit Improvement Act of 2019 (AHCIA) would not only significantly increase affordable housing resources in both the 9 percent and 4 percent programs (more on those to come) but would also enact reforms that will spur development in rural areas, allowing for additional basis boost’s if financially warranted, allow for the development of housing for veterans using the 4 percent LIHTC & bonds, disallow any requirement for local letters of support as part of a QAP, and make both programs more efficient as tools to preserve existing housing.

Article 2

Regarding new production, the AHCIA will increase the 9 percent LIHTC allocation by 50 percent over a fiveyear period. At the end of the phase-in period this will result in a per capita allocation of around $5.45 and according to an analysis by our friends at Novogradac, over the course of 10 years will result in an additional 364,000 units of affordable housing. Just in Texas this could result in an additional 33,000 units over 10 years. Now this proposal assumes the 12.5 percent allocation increase we received in the Omnibus budget of 2018 will be the new baseline for allocations as well.

As for the 4 percent LIHTC, the AHCIA would create a 4 percent floor leading to a conservative estimate of an additional 66,000 units of affordable housing over 10 years. In Texas alone it is estimated the 4 percent fix would generate over 3,000 additional units over 10 years.

There is no questioning the significance of the AHCIA so the question is, and we get this a lot, how do we get this done? Well there are a number of factors that will contribute to our success. As opposed to the last few

sessions of Congress, we now have a Ways and Means Chairman that whole-heartedly supports the LIHTC. As circumstance would have it Chairman Richie Neal (D-MA) is the former lead sponsor of the AHCIA. He and the Ways and Means staff are working with us on getting the AHCIA enacted. Congressman Kenny Marchant (R-TX) is the lead Republican in the House and a strong ally. We also have strong advocates in the Senate including our lead sponsors Senators Cantwell (D-WA), Isakson (R-GA), Wyden (D-OR) and Young (R-IN). You also have an amazing advocacy team in Washington, DC. On the day the AHCIA was enacted the Housing Advisory Group (yours truly is Executive Director) and the Affordable Housing Tax Credit Coalition very ably led by my friend and colleague Emily Cadik, held over 100 separate meetings on Capitol Hill and hosted a number of Members of Congress in support of advancing the AHCIA. Both organizations are on the steering committee of the ACTION Campaign, our umbrella group with over 2,200 member organizations all over the country working to support the LIHTC, TAAHP included.

All that being what it is, what will get the AHCIA enacted are the efforts of the member organizations and individual’s like yourselves that reach out to your elected officials in support of the LIHTC. Nothing is more effective then your senators and house members visiting a LIHTC property, meeting the tenants and learning what the program actually is and accomplishes in their communities. Without this we will not get the 9 percent increase or the 4 percent fixed LIHTC. We need Senator John Cornyn on board the bill and friends in Texas have assured me they are working to gain his support for S. 1073. We also need the Texas House delegation to see the significance on the LIHTC in their districts leading them to stand with Congressman Marchant and cosponsor HR. 3077. This will demonstrate to House Minority Leader Kevin McCarthy (R-CA) the support the AHCIA has within his Republican conference.

So there you have it. If we all put in the maximum effort to advocate for the AHCIA we have a good chance of success this year. All the pieces are there. The question is will the industry put in the necessary effort to get it done. We have done it before so let’s go.

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Affordable

Housing

SPOTLIGHT

COMMUNITY Success Stories

W

e are pleased to share our Spotlight Stories and featured articles with you in the 2019 Texas Affordable Housing Magazine. There are many critical issues facing the Low-Income Housing Tax Credit Program (LIHTC) and we have a desperate need for affordable rental housing in Texas and throughout the United States. It was alarming to me to find out that one in four renters spend over 50% of their monthly income on rent.

The LIHTC program is the most successful program in building and preserving affordable housing. The public-private partnerships that TAAHP members share is critical to producing housing that is in such great demand today. It is distressing to know that the shortage of affordable housing is hurting the people in our communities who need it the most.

Firefighters, policemen and women, teachers and many others who work in the service industry make up the backbone of our communities. Finding affordable, decent housing is becoming more difficult for them to live in the towns and cities where they work.

The Texas Department of Housing and Community Affairs recently shared these statistics with me. Their Multifamily New Construction and Rehabilitation program provided mechanisms to attract investment capital and to make available significant financing for the new construction and rehabilitation of affordable rental housing through the Housing Tax Credit, Multifamily Bond, and Multifamily Direct Loan programs. Through these programs an impressive 14,832 households were served with total funding of $1,460,067,840 from September 1, 2017 through August 31, 2018. This is something that we can all be proud of. Every day across the United States for-profit and non-profit builders, developers, state and federal agencies give their time, talent and resources to build and renovate quality affordable housing. Thank you to each of you who work in the affordable housing arena. You truly make a difference.

Thank you to all our contributors to the magazine. Welcome to the 2019 Texas Housing Conference and to Austin. We are glad you are here.

Warm regards, Kristi Sutterfield, Conference Director Texas Affiliation of Affordable Housing Providers

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SPOTLIGHT

KAIA Pointe Georgetown, TX

C

ompleted in 2018, Kaia Pointe is one of Georgetown’s newest affordable, luxury apartment communities. This development is part of the Gatlin Creek PUD, a master planned community that will offer a multitude of residential options, office and retail. This amenity-rich, energy efficient, mixed income, workforce housing community is situated at the intersection of Bettie Mae Way and Williams Drive. Located in the highly sought-after Georgetown ISD, Kaia Pointe offers modern, craftsman influenced architecture and numerous amenities. Features include 9 foot ceilings, walk-in closets, solid surface countertops, Energy Star appliances and fixtures, tiled tub surrounds, and faux wood flooring. A clubhouse for hosting onsite residential services such as health education, cooking and parenting classes for the residents encourages active community engagement. A multitude of amenities including a swimming pool, shaded children’s playground, cyber lounge, fitness center and activity space provide a quality of living for its residents often not previously experienced. Lisa Stephens, president of Saigebrook Development, LLC, said “With the tremendous growth pattern Georgetown has experienced, we are excited to offer affordable options for housing close to the jobs and quality of life the area provides.

Kaia Pointe residents Benjamin and Megan Brinkman and their daughter, Sabrina – aka ‘’Bean,” began calling Kaia Pointe home in October. “We absolutely love it here,” said Megan Brinkman. “We enjoy participating in the community activities. Bean loves to attend the children activities - especially coloring with her new friends.” The Brinkman’s are looking forward to calling Kaia Pointe home for the next year or so. “The staff is wonderful and the amenities are top notch, we love calling Kaia Pointe home.”

Kaia Pointe 104 Betty Mae Way, Georgetown, TX 78633

Developer: Lisa Stephens of Saigebrook Development and Megan Lasch of O-SDA Industries Syndicator and Lender: Boston Capital and Citi Bank

The staff is wonderful and the amenities are top notch, we love calling Kaia Pointe home.

Benjamin & Megan Brinkman, Kaia Pointe Residents Te 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

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SPOTLIGHT

KAIA Pointe Georgetown, TX

Units and Composition:

102 units: 28 one-bedroom, 56 two-bedroom, 18 three-bedroom. Kaia Pointe is 78 percent affordable and will serve families making 30 percent, 50 percent and 60 percent of AMI as well as market-rate. Five percent of the units are designed for residents with accessibility needs and 2 percent of the units are designed for hearing and visual impaired residents.

Art in Public Places: The development team recognizes the importance of art education and commissions a local artist to create a piece of art for each property. The development team worked with the City of Georgetown’s Arts and Culture Department and selected local artist Sun McColgin’s beautiful art work “Thor’s Hammer,” for residents and visitors alike to enjoy.

Type of Funding: 9% Housing Tax Credits through the Texas Department of Housing and Community Affairs Architect & Interior Design: Miller Slayton Architects, LLC and Ink and Oro Creatives Tax Credit Consultant: Sarah Anderson Consulting, LLC General Contractor: Maker Bros, LLC For More Information please contact: Kaia Pointe Apartments, 512-763-8493

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SPOTLIGHT

EAST Meadows I

San Antonio, TX

E

ast Meadows I is a new vibrant community, consisting of 215 mixed-income, multi-family units. This community is designed as walkable, sustainable, and inter-generational with improved connections to the broader neighborhood.

East Meadows I added quality, affordable housing units with market-rate energy efficient appliances and amenities, on-site playgrounds and picnic areas, and improved transportation routes. The development also offers one-, two-, three- and four-bedroom units in both townhome and garden-style buildings. The development also created a mixed-use building that provides residential units above 4,200 square feet of commercial space dedicated to a fully digital library known as BiblioTech—a pioneer concept that provides Internet access, devices and training to a low-income community whose broadband usage was below 25 percent.

East Meadows I 1223 N. Walters Street, San Antonio, TX 78202

Developer: Wheatley Family I, L.P. (an affiliate of San Antonio Housing Authority) and McCormack Baron Salazar (MBS) Syndicator and Lender: RBC Tax Credit Equity, LLC, Capital One, National Association

Built Green so Residents Can Save Even More!

All units are certified as BSAG Level II by Build San Antonio Green (BSAG) a local Green Certification Body, designed to meet major points of building sustainability which include, energy efficiency, water conservation, site requirements and health requirements (Indoor Air Quality). Along with BSAG certification the project is required to have units tested and verified through an Energy Star rater which has confirmed the units will be 30% above International Energy Conservation Code(IECC) 2009 code and comply with Energy Star v.3 requirements. This energy efficiency should translate to 20 percent to 25 percent annual energy savings on the residents utility bills.

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Units and Composition:

Of the 215 units, there are 37 one-bedroom, 120 two-bedroom and six four-bedroom.

20% 27.4%

Unit Mix

By AMI

30% of AMI 30%-50% of AMI

11.6%

50%-60% of AMI 60% of AMI Market Rate

1.5%

39.5%

On-Site Amenities:

++ Community Room ++ Garbage Disposal ++ Microwave

++ Central HVAC

++ Full Size Washer & Dryer in units ++ Playground

++ Volleyball Court

++ Swimming Pool

Resident Profile: East Meadows I is a multi-family mixed finance and mixed-income apartment complex.

Type of Funding: City of San Antonio: HOME Funds, CDBG Funds, Governmental Grant, Replacement Housing Factor Funds, Move to Work Funds, City Public Service Energy Local Grant, San Antonio Water System Grant, Public Improvements of right of ways grant, SAHFC (MTW), SAHA (CNI Funds), SAHA (RHF), 9% tax credits.

Architect: KAI Texas General Contractor: Sullivan Land Services Support Services: SAHA Community Development Initiative (CDI) For More Information please contact: McCormack Baron Management 1223 N. Walters, San Antonio, TX 78202 210-970-7649 www.eastmeadowsapts.com

++ Bike Racks

++ BiblioTech: Bexar County Digital Library -

available to the community

BiblioTech Te 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

39

Mariposa at South Broadway Joshua, TX Bonner Carrington, LLC

Proud to Support TAAHP RBC Capital Markets raised more than $1 billion in tax credit equity and senior managed over $3.8 billion in single and multifamily housing bonds in 2018. As one of the nation’s largest syndicators and bond underwriters, we are proud to support TAAHP and are grateful for their partnership in advocating for affordable housing throughout the State of Texas.

Dan Kierce Managing Director Tax Credit Equity daniel.kierce@rbccm.com

Helen Feinberg Managing Director 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 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). ®/™ Trademark(s) of Royal Bank of Canada. Used under license. © Copyright 2019. All rights reserved.

40

Te 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

SPOTLIGHT

SILVERLEAF

at Panhandle Seniors Panhandle, TX

S

ilverLeaf at Panhandle Seniors features one- and two-bedroom apartment homes primarily serving seniors in the 30 percent, 50 percent and 60 percent levels of area median income as well as the physically impaired. The property is built to National Green Building Standards and achieved a NGBS Green Certification.

Silverleaf at Panhandle Seniors 601 Pecan Ave., Panhandle, TX 79068 Developer: StoneLeaf Development Partners, LLC

Syndicator and Lender: RBC Capital Markets, LLC, Bank of Oklahoma

Energy Saving Features Energy StarÂŽ appliances and lighting fixtures with LED light bulbs NGBS Green Certification

Te 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

41

SPOTLIGHT

SILVERLEAF at Panhandle Seniors Panhandle, TX

Units and Composition:

60 units comprised of 54 Tax Credit and six market-rate units Type of Funding: Tax Credits Architect: Cross Architects, PLLC Special Design Features: Vaulted ceilings in all unit living rooms, granite counter tops throughout, walk-in closets, full size washer and dryer hook ups, ceiling fans, covered patios with storage closets, faux wood flooring, steel entry doors, full kitchen including refrigerators with ice makers, self cleaning ovens, dishwasher and disposals. All apartment homes are blocked for grab bars to assist with aging in place.

Support Services:

++ Notary Public

++ Quarterly Financial Planning Courses ++ Annual Health Fairs

++ Quarterly Health and Nutritional Courses

++ Twice Monthly Arts, Crafts, and Recreational

Activities ++ Annual Income Tax Preparation ++ Twice Monthly On-Site Social Events For More Information please contact: Ben Dempsey StoneLeaf Development Partners, LLC 903-887-4344 Ben@stoneleafcompanies.com

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Te 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

No matter how you define affordable, HUNT HAS YOU COVERED.

DANA MAYO Executive Managing Director (818) 380-6130 dana.mayo@huntcompanies.com

RICHARD COOMBER Director, Acquisitions (617) 904-3896 richard.coomber@huntcompanies.com

OMAR CHAUDHRY Director, Acquisitions (972) 803-3416 omar.chaudhry@huntcompanies.com

EARL CHASE Director, Acquisitions (312) 799-3931 earl.chase@huntcompanies.com

STEPHEN BIEN Director, Acquisitions (813) 968-8200 steve.bien@huntcompanies.com

Te 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

43

SPOTLIGHT

NEWSOME

Homes

McKinney, TX

N

ewsome Homes is a 180-unit, age restricted (55+), newly constructed apartment community in McKinney, TX. It replaced 64 public housing units built in the 1960’s utilizing the Rental Assistance Demonstration (RAD) program.

Resident Profile Age 55+

Units and Composition:

Consisting of 180 units in two buildings (Building A-109 units, Building B – 71 units) the property totals 130,234 net rentable SF. One-hundred and forty of the 180 units are one-bedroom, one-bathroom units; the remaining 40 units are two-bedroom, two-bathroom units. All the units are tax credit eligible with rents capped at the tax credit limits. There are no market-rate units.

Type of Funding: The $22,604,775 construction of Newsome Homes was funded with $15,000,000 in tax exempt bonds from CommunityBank of Texas, $3,376,222 in LIHTC from PNC bank (40% of equity contribution), $2,840,052 in funds from the McKinney Housing Authority, and $1,388,501 in deferred fees split between the co-developers.

Newsome Homes 1450 Amscott, McKinney, TX 75069

Developer: Co-Developers – McKinney Affordable Housing Development Corporation and Carleton Development, Ltd. Syndicator and Lender: PNC Bank, Community Bank of Texas

Permanent financing consists of a loan of $10,665,089 from CommunityBank of Texas, a $2,840,052 loan from the McKinney Housing Authority and $759,078 in deferred developer fees split between the co-developers.

Architect: Beeler, Guest & Owens Architects Special Design Features: ++ Secure Entry ++ Elevators ++ Interior Hallways ++ All-Electric Black Appliances with Dark Wood Cabinets ++ Carpet and Hardwood Floors ++ Laundry Connections in all Units ++ Covered Patios ++ 9 Foot Ceilings 44

Te 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

Continued on page 46

WITH A RELIABLE SOURCE FOR YOUR FINANCING NEEDS, YOU’RE

READY FOR TODAY.

PNC REAL ESTATE | As the #1 apartment syndicator in the country,* PNC Real Estate is an effective and proven provider of capital solutions throughout the cycle of your transaction — whether you are buying, building, preserving or refinancing. We offer LIHTC equity, balance sheet construction and permanent lending, as well as Fannie Mae, Freddie Mac and FHA solutions. When you work with a leading financial institution, you’re ready for today. To learn more, visit pnc.com/realestate.

R E A L E S TAT E B A N K I N G

|

AGENCY FINANCE

|

TA X C R E D I T S O L U T I O N S

|

MIDL AND LOAN SERVICES

*National Multifamily Housing Council, 2019, Top 10 Syndicators for Affordable Housing PNC, PNC Bank and Midland Loan Services are registered marks of The PNC Financial Services Group, Inc. (“PNC”).

PNC Bank, National Association (“PNC Bank”), and certain of its affiliates, including PNC TC, LLC, an SEC-registered investment advisor wholly-owned by PNC Bank, do business as PNC Real Estate. PNC Real Estate provides commercial real estate financing and related services. Through its Tax Credit Solutions segment, PNC Real Estate provides lending services, equity investments and equity investment services relating to Low Income Housing Tax Credit (“LIHTC”), affordable housing preservation, New Markets Tax Credit (“NMTC”), and Historic Tax Credit (“HTC”) investments. PNC TC, LLC provides investment advisory services to funds sponsored by PNC Real Estate for LIHTC and affordable housing preservation investments.

Registration with the SEC does not imply a certain level of skill or training. This material does not constitute an offer to sell or a solicitation of an offer to buy any investment product.

Lending, leasing and equity products and services, as well as certain other banking products and services, require credit approval.

PNC does not provide legal, tax or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. ©2019 The PNC Financial Services Group, Inc. All rights reserved.

CIB RE PDF 0519-0129-1254701

CIB RE Ad_7.75x5_1254701_Final.indd 1

5/28/19 7:55 AM

A better way to home.

• • • • • • •

MULTIFAMILY PROPERTY MANAGEMENT AFFORDABLE HOUSING NEW CONSTRUCTION LEASE-UPS DEVELOPMENT & CONSULTING VALUE-ADD RENOVATIONS REPOSITIONING TROUBLED ASSETS COMPLIANCE SERVICES

3,000+ 15,000+ UNITS IN TEXAS

UNITS NATIONALLY

PROPERTYMANAGEMENT@SELDIN.COM 402-505-3223 | SELDIN.COM

Te 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

45

SPOTLIGHT

NEWSOME

Homes

McKinney, TX

On-Site Amenities: ++ Fitness Center ++ Yoga Room

++ Business Center

++ Multiple Libraries

++ Green Spaces with Gazebos ++ Walking Paths ++ BBQ Grills

++ Storage Rooms

Support Services Offered:

++ An Onsite Supportive Services Coordinator ++ Meals on Wheels

++ Free Vegetable Delivery for Residents

Provided on a Weekly Basis

++ Fully Stocked Activity Room for Arts and

Crafts

++ Free Exercise Classes

++ Free Seminars and Lectures Offered to

Residents on Various Topics

For More Information please contact: Mayfair Management Group, LP Susanne Kleins, President 7920 Belt Line Road, Suite 800, Dallas, TX 75254 214-442-1313; skleins@mayfairmgt.com

Energy Saving Features

Energy StarÂŽ appliances, ceiling fans

46

Te 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

MANAGING

for a

BETTER TOMORROW, TODAY

www.MAYFAIRMGT.com

®

Te 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

47

BY: KEVIN E. ALLMANDINGER, CPA AND BART W. PERRY, CPA THE TIDWELL GROUP

W

ith heightened accountability and

state agencies increasing oversight in an effort to mitigate fraud risk,

General Contractor Cost Certifications (GCCCs) for

low-income housing projects are becoming increasingly important. General contractors must contend with inaccurate or incomplete accounting records,

unpleasant and avoidable fire drills, and extra costs

if they do not properly execute on General Contractor

Cost Certifications. Given that GCCC requirements are

KEVIN E. ALLMANDINGER, CPA

relatively new, many contractors are not aware of the

rules and nuances that, if not understood, could lead to significant problems. Tidwell Group’s depth of industry

experience in completing GCCCs for state agencies and HUD, allow us to help our clients navigate this complex

regulatory environment. In order to optimize effort and manage time effectively, it is important that general contractors understand the key factors that lead to successful completion of a GCCC.

BART W. PERRY, CPA

48

Te 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

Understanding the rules is important in any endeavor. Simply suiting up and playing a sport without the requisite knowledge of the rules of the game can lead to ineffective strategies and, ultimately, a lack of success.

Know the Rules Understanding the rules is important in any endeavor. Simply suiting up and playing a sport without the requisite knowledge of the rules of the game can lead to ineffective strategies and, ultimately, a lack of success – the same holds true for low-income housing GCCCs. The following requirements are unique to almost every state:

• Guide of GCCC testing and reporting requirements

• Forms that are required for

reporting the costs certified • Calculation of total certifiable costs, including calculations for determining the proper amount of overhead, profit, and general requirements that would be allowed.

Accordingly, contractors in the low-income housing space may be very familiar with the GCCC rules for the state of Georgia, but unfamiliar with the unique rules of Florida or Ohio. Researching and understanding the differences between state agencies is key to a successful GCCC.

Clear Bookkeeping While accountants focus on the accounting of a project, the most common challenges encountered on GCCCs are related to inaccurate, incomplete, or unclear bookkeeping.

Bookkeeping problems can be the most pervasive and daunting issues to contend with. For example, many states publish reporting templates into which certified costs must fit. Most of these state templates require the costs to be organized by cost code and vendor. In addition, these costs must be categorized by cost types including amenities, new construction, rehabilitation and accessory structures. Some templates also require segregating sub-contracted costs/contracted costs from material costs. Most states also require auditors to confirm the costs incurred by vendors and vouch invoices for individual vendors. Contractors who clearly delineate specific costs in their bookkeeping system using cost codes that are similar to that of both state agencies and industry standards, improve the accuracy of their GCCC applications. Likewise, an ability to clearly separate amenity/accessory structure costs from the Continued on Page 50

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49

Continued from Page 49 other costs of construction, contributes to the accuracy of the applications. The first items requested by auditors when completing a GCCC are job cost reports by vendor (preferably in Excel format) and vendor contact listings (so that confirmations can be distributed). Having these items readily accessible for the auditor nearly guarantees a successful GCCC. Early Auditor Involvement Clearly, the most significant delays associated with delivering the required report to the state agency occur when the work starts well behind schedule. Many clients come to Tidwell Group needing a GCCC after being informed by the state agency that it was required after the preparation of the tax credit cost certification. This notification by the state agency results in an immediate cascade of critical steps for everyone involved. At Tidwell Group, we prefer a proactive approach that allows us to become involved as early as possible in the process. This more timely involvement allows us to help the contractor and owner understand:

• State reporting and testing requirements • Items necessary to complete the certification; and; • Consult with them on how to address any unusual issues that may arise.

In general, when construction is approximately 95 percent complete, the audit work can begin. This helps expedite the completion of the cost certification once substantial completion is achieved.

In summary, a successful GCCC begins long before the draft report is issued. Success begins with understanding the rules of the game, having clear and accurate recordkeeping, and involving the auditors early and throughout the process. Contractors and owners work hard to produce a successful LIHTC property. Accordingly, it is critical to take the appropriate measures to ensure that the final steps in the process are not impeded by a lack of knowledge of the requirements or poor record keeping. The experts at Tidwell Group are here to ensure that your next GCCC is executed successfully.

50

Te 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

The Affordable Housing Specialists Tidwell Group has a national presence serving clients in the affordable housing industry throughout the United States. Our experienced professionals are adept at navigating all areas of affordable housing, whether it be the various tax credit deal structures, HUD subsidy and debt structures or USDA-RD projects.

From financial models to year 15 strategies and all things in between...

We will guide you!

Audit

•

Tax

•

Consulting

w w w.T i d w e l l G r o u p . co m

Recognizing extraordinary efforts It takes hard work, discipline, and collaboration toward a shared purpose to achieve great heights in any endeavor. Wells Fargo Commercial Real Estate salutes Texas Affiliation of Affordable Housing Providers and is committed to supporting organizations that make a difference in our community.

Learn more at wellsfargo.com/affordablehousing.

© 2019 Wells Fargo & Co. All rights reserved. 4609979

Te 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

51

FEATURE

THEN &

Now

Affordable Housing in the 21st Century

Developers of affordable housing often climb an uphill battle to provide housing for Texas’ most vulnerable citizens. The struggle is due in part to the negative perception of public housing built in the 1940s-1970s. Known as “the projects,” public housing built during these earlier decades were fraught with problems, including a lack of funding by the United States government who served as both owner and manager of such properties.

Times have changed. With new funding mechanisms utilizing public-private partnerships to build affordable housing in the 21st century, affordable housing today is built to a higher standard.

TAAHP members work hard to provide quality, affordable housing in Texas and we are excited to showcase a handful of examples of how members have built, maintained and improved affordable housing so that residents of various means are proud to call these communities home.

52

Te 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

THEN & NOW

Costa Biscaya 5100 EISENHAUER, SAN ANTONIO, TX 78218

NEW CONSTRUCTION

DEVELOPER

THE NRP GROUP, LLC

MARKET

SAN ANTONIO

COUNTY

BEXAR

YEAR BUILT

2004

# OF UNITS

250

# OF AFFORDABLE UNITS

250

AMI SERVED

50% (6.8% OF UNITS) 60% (72.3% OF UNITS)

OCCUPANCY RATE

93.2%

PROPERTY TYPE

FAMILY

FINANCING TYPE

9% HOUSING TAX CREDITS, BONDS, AND CITY/HOME LOAN FUNDS

TOTAL PROPERTY TAXES PAID-TO-DATE

$1,327,888.34

2019

2004

TYPE

FEATURE

Te 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

53

Blazer has been a trusted builder for over 40 years and has completed over 40,000 multi-family apartment units. www.blazerbuilding.com 4001 W. Sam Houston Pkwy. N. | Suite 100 | Houston, Texas 77043 | (713) 914-9200

“LIVING HERE MADE IT POSSIBLE FOR MY MOM AND DAD TO SEND MY BROTHER AND ME TO COLLEGE.” CREALLC.COM AUSTIN

54

BOSTON

CHICAGO

Te 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

INDIANAPOLIS

NEW YORK

PORTLAND

SARASOTA

SAN DIEGO

THEN & NOW

CoopersTown 5001-5010 SEAN HAGGERTY, EL PASO, TX 79924

NEW CONSTRUCTION

DEVELOPER

TROPICANA HOMES

MARKET

EL PASO MSA

COUNTY

EL PASO

YEAR BUILT

2003

# OF UNITS

36

# OF AFFORDABLE UNITS

36

AMI SERVED

50% (50% OF UNITS) 60% (50% OF UNITS)

OCCUPANCY RATE

98%

PROPERTY TYPE

FAMILY

FINANCING TYPE

9% HOUSING TAX CREDITS

TOTAL PROPERTY TAXES SINCE 2014

$48,299.22

2019

2003

TYPE

FEATURE

Te 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

55

THEN & NOW

Brompton Square 1323 WITTE ROAD HOUSTON, TX 70055

RENOVATION / REHAB

DEVELOPER

TEXAS INTER-FAITH HOUSING CORP.

MARKET

HOUSTON MSA

COUNTY

HARRIS

YEAR BUILT

1970

# OF UNITS

216

# OF AFFORDABLE UNITS

120

AMI SERVED

50% (13% OF UNITS) 80% (53% OF UNITS)

OCCUPANCY RATE

96%

PROPERTY TYPE

FAMILY

FINANCING TYPE

HUD REFINANCING

TOTAL PROPERTY TAXES PAID-TO-DATE

TAX EXEMPT

Before

CONSTRUCTION TYPE

56

Te 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

After

FEATURE

Creating Opportunities

BBVA is proud to support the Texas Housing Conference and all those working to provide affordable housing.

We believe everyone deserves to have a place to call home.

BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group. BBVA USA, Member FDIC and Equal Housing Lender. Rev. 06/2019 / #719697

Te 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

57

Sabine

Place

1215 TERMINAL ROAD #1, FORT WORTH, TX 76106 CONSTRUCTION TYPE

RENOVATION

DEVELOPER

STEELE PROPERTIES, LLC & FORT WORTH HOUSING SOLUTIONS

MARKET

FT WORTH MSA

YEAR BUILT

1968 / RENOVATED 2019

# OF UNITS

71

# OF AFFORDABLE UNITS

71

AMI SERVED

30% / 60% AMI

OCCUPANCY RATE

100%

PROPERTY TYPE

FAMILY

FINANCING TYPE

4% HOUSING TAX CREDITS, TAX EXEMPT BONDS

TOTAL PROPERTY TAXES PAID-TO-DATE

TAX EXEMPT

Before 58

THEN & NOW

Te 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

After

FEATURE

Te 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

59

Lakecrest 9393 TIDWELL ROAD, HOUSTON, TX 77078

Village

TYPE

RENOVATION

DEVELOPER

DOMINIUM, INC.

MARKET

HOUSTON MSA

COUNTY

HARRIS

YEAR BUILT

1999; RENOVATED 2019

# OF UNITS

224

# OF AFFORDABLE UNITS

224

AMI SERVED

50% (50% OF UNITS) 60% (50% OF UNITS)

OCCUPANCY RATE

98.82%

PROPERTY TYPE

FAMILY

FINANCING TYPE

4% HOUSING TAX CREDITS, TAX EXEMPT BONDS

TOTAL PROPERTY TAXES SINCE 2017

$320,218.42

Before 60

Te 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

THEN & NOW

After

FEATURE

Lining Up Benefits for

and Your Tenants

Natural gas offers measurable advantages to help you stand out from the competition.

When you include natural gas in your multi-family builds you also build in benefits such as lower energy bills, readily available hot water, the most preferred cooking method and more. CenterPoint Energy’s Natural Gas Advantage Multi-Family Program helps you add up even more benefits.

VISIT US AT BOOTH #28 to discover how building with natural gas and the Gas Advantage Multi-Family Program can add to your bottom line with: • Cash incentives • Favorable utility allowances • Energy, cost and environmental savings benefits

CenterPointEnergy.com/Multi-Family Eisen Scherwitz 713-207-5470 Eisen.Scherwitz@CenterPointEnergy.com

Laura Irvine 713-207-6454 Laura.Irvine@CenterPointEnergy.com

Over a Century of Trusted Service ©2019 CenterPoint Energy 199169

BUILDING A BETTER FUTURE STARTS WITH A STRONG FOUNDATION. We’re proud to be a national leader in the affordable housing industry.

Everyone deserves a place to call home, which is why Regions Affordable Housing has a commitment to investing in people and communities across the nation.

Regions Affordable Housing has originated $4.4 billion in equity investments in 1,200 assets located in 45 states, D.C. and Puerto Rico and provided more than $1 billion in construction finance for LIHTC projects. With more than 30 years of industry experience, we value and reward long-term client relationships. Our bankers offer deep institutional knowledge of the clients we serve and deliver competitive products with superior service marked by speed, certainty and creativity. We believe in your goals and want to help you reach them.

Contact Regions Affordable Housing for customized solutions.

David Payne | davidn.payne@regions.com 214.220.6171 | regions.com/realestatebanking LIHTC & Historic Tax Credit Equity | HUD & Fannie Mae Debt Lender | Treasury Management & Depository Services © 2019 Regions Bank. All loans and lines of credit are subject to credit approval, terms and conditions. | Regions and the Regions logo are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.

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Te 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

Welcome Home

TO WILHOIT LIVING.

Founded in 1 9 67, Wilhoit Properties is dedicated to providing

high-quality, accessible, and affordable housing for today's family and senior resident. Our core strength is a corporate team that delivers hundreds of years combined experience in property development, construction and management.

Currently, we manage a total of 217 properties in 15 states—including 37 developments & 4,000+ units in the Lone Star State alone.

We truly value our growing roots in these Texas communities—and our relationship with the TAAHP & Texas Housing Conference. When a need or opportunity arises, make Wilhoit Properties your welcome home to affordable housing solutions.

Mid-rise Senior Communities Garden-Style Apartments Single-Family Homes & Townhomes

417.883.1632

WilhoitLiving.com Rowe Shockley EVP/Property Management RShockley@wilhoitproperties.com Paula Wilhoit VP/Property Management PWilhoit@wilhoitproperties.com

transform futures Block by block, revitalization efforts like yours are helping communities create places to work and live. We share your commitment and are proud of the positive impact we’re making together.

Valerie A. Williams Senior Vice President - Community Development Banking valerie.a.williams@baml.com bofaml.com/affordablehousing

“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 . ©2019 Bank of America Corporation. CREB-123-AD ARWFXTY4

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Te 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

to the Largest Affordable Housing Conference in Texas

BUILDING A BETTER

TOMORROW

CONFERENCE SCHEDULE • WORKSHOPS • BREAKOUT SESSIONS • EXHIBITORS • SPECIAL EVENTS

WELCOME

S C H E D U L E

A T- A - G L A N C E

Quick Guide J U LY

22

MONDAY

2019

7:30 AM - 6:30 PM

Registration Desk Open, 5th Floor

9:30 AM - 10:30 AM

Morning Coffee Break, 5th Floor, Manchester Ballroom EE-GG

9:30 AM - 11:30 AM

Workshop: Intro to Asset Management & Compliance, 5th Floor, Manchester EE

9:30 AM - 11:30 AM

Workshop: An Intro to Housing Tax Credits and Case Studies, 5th Floor, Manchester GG

11:30 AM - 1:00 PM

Lunch on Your Own

1:00 PM - 3:00 PM

Workshop: Tax Exempt Bonds Boot Camp, 5th Floor, Manchester EE

1:00 PM - 3:00 PM

Workshop: RAD Conversion for Housing Authorities and Cities, 5th Floor, Manchester GG

1:30 PM - 2:30 PM

Afternoon Refreshment Break, 5th Floor, Manchester Ballroom EE-GG

3:00 PM - 7:00 PM

Exhibit Hall Open, 5th Floor, Manchester A-D

4:00 PM - 5:00 PM

Conference Opening Keynote Speaker: Elliot Eisenberg, Ph.D., 5th Floor, Manchester EE

5:00 PM - 7:00 PM

Opening Reception and Wine Trail in Exhibit Hall, 5th Floor, Manchester A-D

J U LY

23

TUESDAY

7:00 AM - 5:00 PM

Registration Desk Open, 5th Floor

7:30 AM - 8:30 AM

Breakfast / TAAHP Membership Meeting, 7th Floor, Park View A

8:30 AM - 9:45 AM

Breakout Sessions (Details starting on page 84)

9:30 AM - 7:00 PM

Exhibit Hall Open, 5th Floor, Manchester A-D

9:45 AM - 10:15 AM

Refreshments and Break in Exhibit Hall, 5th Floor, Manchester A-D

10:30 AM - 11:45 AM

Breakout Sessions (Details starting on page 84)

12:00 PM - 1:30 PM

Luncheon Keynote Speaker: Karen McCullough, 5th Floor, Manchester Ballroom E-G

1:45 PM - 3:00 PM

Breakout Sessions (Details starting on page 84)

3:00 PM - 3:30 PM

Refreshments and Break in Exhibit Hall, 5th Floor, Manchester A-D

3:30 PM - 4:45 PM

Breakout Sessions (Details starting on page 84)

5:00 PM - 7:00 PM

Conference Closing Reception in Exhibit Hall, 5th Floor, Manchester A-D

J U LY

24

WEDNESDAY

7:30 AM - 12:00 PM

Registration Desk Open, 5th Floor

8:00 AM - 12:00 PM

Breakfast & Policy Brunch (See pg 94 for Topics & Schedule), 5th Floor, Manchester E-G

1:00 PM – 4:00 PM

Topgolf Event/Scholarship Fundraiser* (Shuttle Transporation at 12:30) Register online at www.texashousingconference.org

* Sold separately

66

Te 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

Download!

New Texas Housing Conference App

Convenient & User Friendly Updates & News • Conference Schedule Special Events • Register for TopGolf Exhibitors • Sponsor Directory • Attendee List

Now available...

Te 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

67

CONGRATULATIONS TO DEBRA GUERRERO

On Your Great Leadership of TAAHP And Your Great Leadership at NRP for the last 16 years

WE’RE SO PROUD TO CALL YOU ONE OF OUR OWN!

68

Te 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

A

ME S S AG E

FR O M

T H E

C O NF E R E NC E

O

n behalf of TAAHP’s membership and staff, WELCOME to the 2019 Texas Housing Conference! We are excited to have over 1,000 individuals registered for this year’s conference. This year’s theme of “Building A Better Tomorrow” is supportive of our goal to network with other professionals as we work together to seek solutions to the never-ending affordable housing need in Texas and across the country.

We are pleased to welcome back, Elliot Eisenberg, Ph.D. who is known as the “Bowtie Economist.” He will give a fun, informative update on the Texas and U.S. economies so we can gain some insight and perspective on the variables that impact the cost of housing and residents’ ability to keep pace with the rising cost of living.

C O - C HA IRS

that will emphasize best practices in the areas of Money, Emerging Issues, HUD & More, and Legislative topics. CLE credit will be available for various disciplines so be sure to check with the registration desk to sign up!

Valerie Williams

We’re also excited to welcome our keynote speaker, Karen McCullough, a branding expert that will illustrate to the audience that not only is branding made up of typical components you would expect of a commercial business, it is also impacted by those who work for and represent your company. She will focus her discussion on the various business models that exist within the affordable housing industry to ensure you walk away with tools and insight that can be implemented in your business immediately.

Conference Co-Chair

David Saling Conference Co-Chair

An integral part of the Texas Housing Conference is the extensive schedule of educational sessions and workshops that inform and educate affordable housing industry practitioners. Whether you are a seasoned professional or just getting started, you’ll find there are numerous, valuable opportunities to learn and connect.

This year’s “101” style workshops will be presented on Monday for those that need training on the use of Low-Income Housing Tax Credits in the development and financing of affordable housing.

Additionally, we believe you will gain useful information by your participation in the various education breakout sessions on Tuesday

Conference Committee Chris Akbari, ITEX Group Toni Jackson, The Banks Firm Dan Kierce, RBC Capital Markets Mark Mayfield, Texas Housing Foundation

No conference would be complete without its own APP and the Texas Housing Conference is no different. If you haven’t already, be sure you are taking advantage of this effective and convenient tool. You’ll not only find the complete Conference Schedule and list of special events and education sessions that will help you plan your conference experience, but you will also have access to a list of conference attendees, the latest updates on speaker and scheduling changes, the sponsor directory, list of exhibitors and so much more! Visit the Apple or Google Play app stores to download the app for your IOS or Android device.

Did someone say Topgolf? Don’t miss out on this fun networking event where TAAHP members will raise scholarship funds for deserving students living in affordable housing communities across the state of Texas. Your participation in the Mike Lankford Memorial TopGolf Event and Scholarship Fundraiser is appreciated as we aim to exceed our fundraising goals so that we may support these students in their pursuit of a higher education. You’ll find more information about this event on page 96 of this magazine.

The Texas Housing Conference would not be possible without the generous support of our sponsors. We would like to thank them for taking part in this year’s event. Please spend some time in the Exhibit Hall to visit the various businesses that have helped to make the 2019 Texas Housing Conference a reality.

Please also join me in thanking our Conference Director, Kristi Sutterfield, the TAAHP Conference and Education Committees and Staff for all of their time and effort to make this conference a success.

Welcome and please enjoy the 2019 Texas Housing Conference!

Education Committee

Lora Myrick, Betco Consulting Company (Chair) Terri Anderson, Anderson Development & Construction, LLC Edwina Carrington, CHK Enterprises Meghan Garza, Community Housing Resource Partners Darren Smith, MVAH Partners Kristin Welch, Davis-Penn Mortgage Co.

Remembering

DAN MARKSON

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1959 ~ 2019

D

an Markson, a friend to many of us and a respected pioneer in affordable housing development in San Antonio and Texas, passed on May 4th of this year.

Mr. Markson served as Executive Vice President of development for The NRP Group, a national real estate developer, and was a co-founder of its Texas office.

“Dan had a deep love for Texas and chose to live, work and raise his son in the Lone Star State because of its rich history, great economy, diverse population, and natural wonders,” said Debra Guerrero, his friend, NRP colleague and current TAAHP President.

“Dan will forever be celebrated for his success in creating access to safe, affordable housing for the families of Texas.”

For 30 years, Markson led affordable housing development efforts throughout San Antonio and Texas and spearheaded the creation of over 20,000 apartment homes in four states, more than 17,000 of them in Texas.

“This is an indescribable loss to NRP and a profound loss to the affordable housing industry overall,” said J. David Heller, CEO of The NRP Group.

“Dan’s passion for creating top-quality housing for people of all incomes, and his efforts to add supportive services to improve the lives of vulnerable families – with novel concepts like ‘Homework First’ and many other programs – have created an important catalyst to continued work in this area.”

Markson led projects that delivered modern housing to downtown San Antonio and transformed the

urban core, including the Cevallos Lofts, the Tobin Lofts at San Antonio College, Blue Star Arts Complex housing, and the Red Berry Estate.

“None of those projects were easy, but he truly believed they were the right thing for San Antonio and San Antonio could support them,” said San Antonio Assistant City Manager Lori Houston. “Dan believed in San Antonio more than anyone I knew, and he would take on the most complicated, difficult deals just because he truly believed it was the right thing for San Antonio.”

Markson is responsible for much of the city’s affordable housing units, and was very involved with market-rate developments as well, and earned the respect of local developers for his innovative approaches to financing and diligence in closing deals.

“Dan’s efforts in San Antonio have changed the face of our city,” said State Sen. José Menéndez (D-San Antonio). These developments have allowed neighborhoods to redefine themselves.”

In addition to his role at The NRP Group, Markson had a multitude of high-level leadership positions in NAHB, TAAHP, and TAB. Dan served as the president for TAAHP in 2010.

Mr. Heller summed up the feelings of Dan’s NRP family: “We will remember Dan for how he gave of himself in so many ways: from family man to civic leader, to prolific real-estate developer, to persistent voice-of-the-underserved, to warm compassionate friend. In short, Dan was a bright light of hope and optimism to all who knew and loved him.”

Dan’s efforts in San Antonio have changed the face of our city.

Sen. José Menéndez, Texas State Senator, D-San Antonio Te 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

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We provide insurance claim assistance for residential and commercial properties.

Let us help you from DISASTER to RECOVERY.

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• $1.2 billion Total affordable housing volume in 2018 • #2 Freddie Mac Top Targeted Affordable Housing Lender in 2018 • Top 5 Fannie Mae DUS® Producer for Affordable Housing in 2018

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us.jll.com/affordable-housing Agency/GSE lending and loan servicing are performed by Jones Lang LaSalle Multifamily, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license. © 2019 Jones Lang LaSalle IP, Inc. All rights reserved.

A tribute to

AFFORDABLE HOUSING INDUSTRY LEADERS

~ Gone but not Forgotten ~

Apolonio “Nono” Flores Flores Residential, LLC

Dan Markson The NRP Group, LLC

The Affordable Housing Industry mourns the loss of some of our best and brightest. While there are industry leaders that have touched the lives of so many in our industry, no one will argue that the contributions from Apolonio “Nono” Flores, Dan Markson, Herb Collins, and Aubrey Thagard have been paramount and will be felt for years to come.

As we push forward to continue the hard work of providing affordable housing for families, seniors, and the disabled in Texas, we will never forget those who have made great sacrifice and who serve as our inspiration to keep fighting the good fight.

TAAHP and its members extend our condolences to the families, friends, and colleagues of those we’ve lost in 2019 as well as those who have gone before. Our thoughts are with you.

Gone but never forgotten.

Herb Collins Boston Capital

Aubrey Thagard City of Fort Worth Neighborhood Services Department Te 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

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Since 1994

Highridge Costa is among Americas leading developers, asset managers, financiers, owners and operators of affordable multifamily workforce and senior apartment communities. With over 28,000 units across 283 apartment communities developed and invested in, Highridge Costa brings tremendous development experience to the table and has formed strong relationships with institutional lenders and public-sector agencies alike. As one of the nation’s most knowledgeable developers in the highly specialized housing tax credit industry, Highridge Costa has extensive experience not only with federal Section 42 Low Income Housing Tax Credits, but also tax-exempt mortgage-backed revenue bonds and various other state and local housing finance programs and grants supporting affordable housing. Highridge Costa is steadfast on its “long term minded” focus on the design, development and financing of low-to moderate-income apartments for families and seniors that blend seamlessly within market-rate neighborhoods. At Highridge Costa, we are committed to creating high quality affordable housing through building living communities that meet both individual and city growth planning needs, furthering our commitment to creating a blueprint for a better nation.

Thriving communities are built on investment.

At Key, we have more than 50 experts across the country to help affordable projects succeed.

Because solving the affordable housing crisis is more than a business, it’s our mission.

To learn more, contact Cathy Danigelis at 206-343-6958 or Alexander S Beaumariage at 214-540-9129. key.com/affordable

Key.com is a federally registered service mark of KeyCorp. ©2019 KeyCorp. KeyBank is Member FDIC.

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190619-603104

Proud Sponsor of the Texas Housing Conference

America’s #1 Tax Credit Equity Sponsor

The road to quality housing requires a team effort. Thank you for your continued support.

Peter McHugh 203-869-0900 ext. 335 mchughp@richmancapital.com

Michael Ramires 703-527-1447 ramiresm@richmancapital.com

Colin Gilbert 203-869-0900 ext. 363 gilbertc@richmancapital.com

James Aberg 919-230-2584 abergj@richmancapital.com

Aaron Wolfe 857-239-9930 wolfea@richmancapital.com

340 Pemberwick Rd Greenwich, CT 06831 203-869-0900

therichmangroup.com

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

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Limited Space | Register Early

Effective Communication Strategies & Media Training Workshop September 18 & 19 Austin, Texas

What You’ll Learn Understand how to connect with different audiences whether donor, advocate, legislator or media audiences.

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.

Create memorable messages that are clear, concise and confident.

Translate complex ideas into understandable concepts for audiences.

Control the interview and manage difficult questions with the “bridging technique,” which allows the spokesperson to drive the content and steer the conversation.

Be effective spokespeople in any medium including radio, TV, online, panel discussion, or live presentations.

Understand the importance of non-verbal communication, including body language, cadence, and voice tone, when delivering a message to audiences.

Practice and prepare for any interview or presentation that follows with focused talking points and breakthrough sound bites.

Who Should Attend?

Anyone who needs to communicate with impact and pursuade audiences. Whether you are pitching a development to neighbors and city councils, talking with legislators and other stakeholders or speaking with the media, this class is an invaluable opportunity to learn how to get the outcome you desire.

Register at TAAHP.org

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2201 Northland Drive Austin, Texas 78756 contact Lora Myrick: lora@betcohousinglab.com (512) 785-3710 | betcohousinglab.com

www.agmfinancial.com

AGM congratulates TAAHP on achieving 22 years of providing high quality affordable housing.

AGM finances affordable housing nationwide.

F U L L

C O N F E R E N C E

S C H E D U L E

Tuesday, July 23, 2019

Monday, July 22, 2019 WORKSHOPS

EDUCATION BREAKOUT SESSIONS

ROOM LOCATION (key below)

MONEY

FUTURE MARKETS

7:30 am

BREAKFAST /

8:30 am

8:30 am - 9:45 am Market-Rate Multi-Family Housing

9:30 am

1:30 pm

10:30 am - 11:45 am Equity Outlook A New Normal

#2: An Introduction to Tax Credits and Tax Credit Case Studies

1 pm - 3 pm #3: Tax Exempt Bond Boot Camp #4: RAD Conversion Workshop for Housing Authorities and Cities

2:30 pm

12:00 pm - 1:30 pm Luncheon Keynote Speaker Karen McCullough, Branding Expert

6:30 pm

Manchester Ballroom A-D

5:30 pm

EXHIBIT HALL OPEN

3:30 pm

4:30 pm

5 pm - 7 pm Opening Reception & Wine Trail in Exhibit Hall

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1:45 pm - 3 pm Debt Panel

1:45 pm - 3 pm Opportunity Zones

3 pm - 3:30 pm Refreshment Break (in Exhibit Hall) 3:30 pm - 4:45 pm Multi-Family Tax-Exempt Financing - Bigger is Better

4 pm - 5 pm Opening Keynote Speaker Elliot Eisenberg, Ph.D.

ROOM LOCATION KEY 78

10:30 am - 11:45 am Affordable Housing, Education and Neighborhood Redevelopment

11:30 am - 1 pm Lunch on Your Own

Manchester Ballroom A-D

12:30 pm

9:45 am - 10:15 am Refreshment Break (in Exhibit Hall)

EXHIBIT HALL OPEN

11:30 am

R E G I S T R AT I O N O P E N ( 5 TH F L O O R )

10:30 am

9:30 am - 11:30 am #1: An Introduction to Asset Management and Compliance for Affordable Housing

8:30 am - 9:45 am Where’s the Money?

3:30 pm - 4:45 pm Acquisitions and Dispositions of Properties at Year 15

5 pm - 7 pm Closing Reception (in Exhibit Hall)

3RD FLOOR Congressional C

4TH FLOOR

5TH FLOOR

Lantana Room

Manchester EE

Poppy Room

Manchester GG Manchester A-D (exhibit hall)

Wednesday, July 24, 2019 POLICY BRUNCH & TOPGOLF EVENT EMERGING ISSUES

TAAHP MEMBERSHIP MEETING

8:30 am - 9:45 am Section 811 and News from HUD

10:30 am - 11:45 am Rental Assistance Demonstration (RAD)

L E G I S L AT I V E T R A C K

7:30 am - 8:30 am

8:30 am - 9:45 am Rural Housing Challenges

10:30 am - 11:45 am Proactive PreservationKey Asset Management Strategies to take on the Challenges of Aging Portfolios

8:30 am - 9:45 am A Look inside the Texas Qualified Allocation Plan (QAP)

10:30 am - 11:45 am Whose House is it Anyway? Property Tax Issues Related to Affordable Housing

BREAKFAST / KEYNOTE 8:00 - 9:00 am

R E G I S T R AT I O N O P E N ( 5 TH F L O O R )

HUD & MORE

Policy Brunch - 9:00-9:45 am Washington Wire-Tax Reform One Year Later Policy Brunch - 10 -10:45 am Re-Cap of the 86th Legislative Session Policy Brunch - 11 -11:45 am Agency Leaders Talk Affordable Housing Policy Brunch - 11:45 am -12 pm A Look Ahead to 2020

3:30 pm - 4:45 pm Using Technology for Maximum Impact of Resident Services

IP SH

2019

FU N R ISE RA D

3:30 pm - 4:45 pm Creative Financing Alternatives (to Fill the Funding Gap)

(see page 96 for details)

SCH OL A R

1:45 pm - 3 pm FHA Debt: Keeps Getting Better

Topgolf - 1-4 pm Scholarship Fundraiser & Networking Event

1:45 pm - 3 pm Rebuilding After a 1:45 pm - 3 pm Disaster-Emergency How NIMBYism Strategies to Use CDBG-DR Funding Effectively

3:30 pm - 4:45 pm 86th Legislative Session Update

WIFI PASSWORD 2019THC

CONNECT TO FAIRMONT_MEETING

7TH FLOOR Park View A Park View B

Registration opens at 7:30 am Monday/Wednesday and 7:00 am on Tuesday Exhibit Hall is open Monday (3:00 - 7:00 pm) and Tuesday (9:30 am - 7:00 pm)

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S P E C I A L

J U LY

22 9:30 AM

E V E N T S

A T- A - G L A N C E

MONDAY

J U LY

23 7:30 AM

MORNING COFFEE BREAK 5th Floor, Manchester Ballroom EE-GG

SPONSORED BY

1:30 PM

9:45 AM 10:15 AM

AFTERNOON REFRESHMENT BREAK 5th Floor, Manchester Ballroom EE-GG

OPENING KEYNOTE: ELLIOT EISENBERG, PH.D. 5th Floor, Manchester Ballroom EE

12:00 PM 1:30 PM

LUNCHEON KEYNOTE: KAREN MCCULLOUGH 5th Floor, Manchester Ballroom E-G

SPONSORED BY

3:00 PM 3:30 PM

OPENING RECEPTION 5th Floor, Exhibit Hall Manchester A-D

SPONSORED BY

5:00 PM 7:00 PM

MORNING REFRESHMENT BREAK 5th Floor, Exhibit Hall Manchester Ballroom A-D

SPONSORED BY

SPONSORED BY

5:00 PM 7:00 PM

BREAKFAST / TAAHP MEMBERSHIP MEETING 7th Floor, Park View A

SPONSORED BY

SPONSORED BY

4:00 PM 5:00 PM

TUESDAY

AFTERNOON REFRESHMENTS 5th Floor, Exhibit Hall Manchester A-D

SPONSORED BY

5:00 PM 6:30 PM

WINE TRAIL 5th Floor, Exhibit Hall Manchester A-D Booth 1 (Sponsored by Bank of America Merill Lynch)

CONFERENCE RECEPTION 5th Floor, Exhibit Hall Manchester A-D

SPONSORED BY

Booth 23 (Sponsored by Wilmington Trust) Booth 27 (Sponsored by Baker Tilly) Booth 37 (Sponsored by Goodman)

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BREAKFAST / POLICY BRUNCH 5th Floor, Manchester Ballroom E-G 8:00 AM - 9:00 AM

SPONSORED BY

BREAKFAST WITH KEYNOTE SPEAKER: TEXAS SENATOR EDDIE LUCIO, DISTRICT 27

9:00 AM - 9:45 AM

WASHINGTON WIRE- TAX REFORM ONE YEAR LATER

10:00 AM - 10:45 AM

A RE-CAP OF 86TH LEGISLATIVE SESSION (WITH ELECTED OFFICIALS)

11:00 AM - 11:45 AM

AGENCY LEADERS TALK AFFORDABLE HOUSING

11:45 AM - 12:00 PM

A LOOK AHEAD TO 2020

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TOPGOLF SCHOLARSHIP FUNDRAISER & Networking Event 1:00 PM - 4:00 PM

IP SH

2019

FU N R ISE RA D

SCHEDULE

8:00 AM 12:00 PM

WEDNESDAY

SCH OL A R

J U LY

Register online at www.texashousingconference.org* *Sold Separately

K E Y N O T E

J U LY

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S P E A K E R S

MONDAY OPENING KEYNOTE SPEAKER

SPONSORED BY

Elliot Eisenberg, Ph.D. 5th Floor, Manchester Ballroom EE 4:00 PM to 5:00 PM

The Economy: Terrific, Tepid or Terrifying Attend this fast-paced and fun talk to learn about the condition of the economy with an emphasis on overall GDP growth, labor market conditions, wage growth, household wealth, trade policy, inflation and inflation expectation, the Fed and interest rates, and the yield curve. Eisenberg will then discuss the Republican tax cuts passed in late 2017 and the expiring bipartisan two-year spending package passed in early 2018 and how they are likely to impact the economy, and our fiscal condition in 2020 and beyond as well as the magnitude and timing of the next recession. The talk will then pivot towards residential real estate including housing prices and rents, demographic trends, construction activity, input costs, regulation, existing home sales activity, credit availability, the homeownership rate, and vacancy rates. The discussion will close by comparing economic conditions in all 50 states and economic conditions across the larger cities in Texas.

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TUESDAY LUNCHEON KEYNOTE SPEAKER

SPONSORED BY

Karen McCullough 5th Floor, Manchester Ballroom E-G 12:00 PM to 1:30 PM

TAAHP members have helped put a new face to quality affordable housing and homelessness. Today brands have evolved from commercial to human-centric. In her presentation Karen will talk about the power of sharing your stories and living your brand. Karen believes that your people are what defines your culture and your brand. Strong engagement is critical to the success of every organization.

Engaged team members perform at high levels, create emotional connections with your residents, and are highly committed to the success of your organization.

Karen shares her CPR Engagement strategies enabling your employees to provide residents the ultimate brand experience.

SAVE THE DATE! 2020 Texas Housing Conference Fairmont Hotel in Austin, TX

July 20th – 22nd, 2020 Te 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

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W O R K S H O P S

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MONDAY

9:30 - 11:30 AM INTRODUCTION TO ASSET MANAGEMENT AND COMPLIANCE MODERATOR

5th Floor, Manchester EE

Now that you have secured an award for an allocation, the program purpose begins!

Ensure your success by attending this panel, where we will discuss a variety of current and emerging asset management and compliance issues that impact affordable housing providers in Texas and beyond. Topics covered will include best practices in asset management and maintaining compliance, income averaging, utility allowances, acquisition/rehab best practices, and TDHCA’s newest asset management and compliance policies.

PANELISTS

JEN BREWERTON, DOMINIUM INC.

Rosalio Banuelos

Texas Department of Housing & Community Affairs

Mike Clark

Alpha Barnes Real Estate Services, LLC

Stephanie Naquin Novogradac & Company, LLP

Deborah Welchel Mayfair Management Group

9:30 - 11:30 AM INTRODUCTION TO TAX CREDITS AND TAX CREDIT CASE STUDIES MODERATOR

5th Floor, Manchester GG

Learn the basics of the 9% Housing Tax Credit program including its history, whom it serves, how deals are structured, and the Texas QAP. Learn from an expert panel of professionals where an interactive case study will be featured. Whether you are a beginner or just need a ‘refresher,’ this course is for you!

PANELISTS

DIANA MCIVER, DMA DEVELOPMENT COMPANY, LLC

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Drew Foster

Red Stone Equity Partners

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Nathan Kelley

Blazer Building Texas

Christine Richardson

Locke Lord, LLP

David Saling

JP Morgan Chase Bank

Andrew Smith CohnReznick LLP

W O R K S H O P S

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MONDAY

1:00 - 3:00 PM MODERATOR

TAX EXEMPT BONDS BOOT CAMP 5th Floor, Manchester EE

Panelists will review who issues bonds in Texas, who are the participants in bond transactions and the general timeline and process of a bond transaction. There will be a discussion on resolutions needed, notifications required, and public hearings held.

Panelists will explain the Bond Review Board process and legislative changes. Join us for an interactive walk through of actual bond transactions.

PANELISTS

ROBBYE MEYER, ARX ADVANTAGE, LLC

David Danenfelzer

Texas State Affordable Housing Corporation

1:00 - 3:00 PM MODERATOR

Paul Moore

Steele Properties, LLC

Braxton Parsons Texas Bond Review Board

Jim Shaw

Capital Area Housing Finance Corporation

Cody Wilson

Stifel Nicolaus & Company, Inc.

RAD CONVERSION WORKSHOP FOR HOUSING AUTHORITIES AND CITIES 5th Floor, Manchester GG

This panel will consist of experienced housing authority executives from across Texas, all of whom have closed a number of RAD transactions. The panel will present case studies of how RAD transactions have been financed and the key challenges encountered in combining the RAD program with HUD and the Tax Credit Program with TDHCA. PANELISTS

BARRY PALMER, COATS ROSE, P.C.

Gerald Chicon

Housing Authority of the City of El Paso

Ann Gass

Austin Affordable Housing Corporation

Mary-Margaret Lemons

Fort Worth Housing Solutions

Antonio Williams Housing Authority of Texarkana

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E D U C A T I O N

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S E S S I O N S

-

M O N E Y

TUESDAY

8:30 - 9:45 AM MODERATOR

MARKET-RATE MULTI-FAMILY HOUSING 7th Floor, Park View A

Affordable housing developers can and are diversifying their portfolios to include market-rate multi-family housing. There are several strategies to accomplish this, including new construction and/or value-added rehab. Hear from affordable housing developers that have expanded their portfolios to include market-rate multi-family units. Additionally, we will learn the tax issues associated with market-rate properties.

Developers will present actual cases of newly developed and value-added market-rate developments.

PANELISTS

VALERIE WILLIAMS, BANK OF AMERICA MERRILL LYNCH

Mike Celkis

CohnReznik, LLP

Kurt Kehoe

The NRP Group, LLC

Justin MacDonald Jeff Spicer MacDonald Companies, Inc.

Dominium, Inc.

10:30 - 11:45 AM EQUITY OUTLOOK - A NEW NORMAL MODERATOR

7th Floor, Park View A

Post tax reform, deals are more under-sourced than ever given lower equity pricing and rising construction costs. Hear our industry experts discuss the challenges facing deals today and how they approach underwriting given current market conditions. Our panel will also peel back the curtain and show what happens when post-closing requests come in. Adjuster relief? Mortgage resizing? Income averaging? How do investors evaluate these requests, and what is the best approach to get to a “yes?” Join us for this informative and interactive panel that will bring you up to speed on the “new normal” in the LIHTC equity market.

PANELISTS

DAN KIERCE, RBC CAPITAL MARKETS

Ben Glispie

Capital One Bank

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Josh Lappen

Hudson Housing Capital

Gary Robinson Raymond James & Associates

E D U C A T I O N

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S E S S I O N S

-

M O N E Y

TUESDAY

1:45 - 3:00 PM MODERATOR

DEBT PANEL

7th Floor, Park View A In this session, panelists will be shairing their approach to successfully funded deals in Texas. The moderator will lead a discussion of how to be creative in structuring and drive real value to the developer/sponsor – in addition to discussing standard topics of the day as it relates to debt and affordable housing in a changing interest rate environment.

PANELISTS

MICHAEL GARDNER, GARDNER CAPITAL

Mahesh Aiyer CITI Community Capital`

3:30 - 4:45 PM MODERATOR

David Saling

JP Morgan Chase Bank

Valerie Williams Bank of America Merrill Lynch

MULTIFAMILY TAX-EXEMPT FINANCING – BIGGER IS BETTER 7th Floor, Park View A

Attendees will gain valuable insight into the current trends in tax-exempt financing.

Learn about the latest product offerings from direct lenders like Fannie Mae, Freddie Mac, underwriters, and placement agents. Discover which products offer the lowest interest rates, the best terms, the most flexibility, and the highest proceeds. Big changes have been made in the Texas volume cap. Join us to learn about all of the details. Attendees will leave this session with the knowledge they need when choosing a financing structure for their 4% tax credit transaction. Leading experts will share the latest trends in tax-exempt financing.

PANELISTS

BARRY KRINSKY, CITI COMMUNITY CAPITAL

Helen Feinberg RBC Capital Markets

Lloyd Griffin Berkadia

Teresa Morales

Texas Department of Housing & Community Affairs

Kent Neumann Tiber Hudson, LLC

Jim Spound

R4 Capital, LLC

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M A R K E T S

TUESDAY

8:30 - 9:45 AM MODERATOR

WHERE’S THE MONEY? 7th Floor, Park View B

Got a gap in funding and need help? Well, help is on the way. This panel will inform and provide options to assist with finding money to fill your gap. Developer, investor, and lender representatives will discuss their experiences and offer advice.

PANELISTS

JOHN SHACKELFORD, SHACKELFORD, BOWEN, MCKINLEY & NORTON, LLP

Jason Aldridge

National Equity Fund

Sean Cullen

Red Capital Group

Joy Horak-Brown New Hope Housing

Jeff Smith

Houston Housing Finance Corporation

10:30 - 11:45 AM AFFORDABLE HOUSING, EDUCATION AND NEIGHBORHOOD MODERATOR

REDEVELOPMENT 7th Floor, Park View B

To truly improve the lives of Texas families - we must not only address the affordable housing needs but other quality of life necessities. Urban areas with deteriorating neighborhoods and school districts with very high at-risk student populations face the greatest challenges. The panel participants will share their knowledge and expertise on initiatives attempting to address these issues, including innovative education initiatives, programs focusing on neighborhood infrastructure reinvestment and wrap around resident services.

PANELISTS

JEAN LATSHA, PEDCOR INVESTMENTS, LLC

Mohammed Choudhury

San Antonio Independent School District

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Melinda Frazer Portfolio Resident Services

Nando Micale LRK, Inc.

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M A R K E T S

TUESDAY

1:45 - 3:00 PM MODERATOR

OPPORTUNITY ZONES 7th Floor, Park View B

This breakout session will provide valuable and timely information on investment in Opportunity Zones. Topics range from the creation of Opportunity Zones, investment and tax benefits to investing in an Opportunity Fund/Zone, discussion on the second tranche of IRS governing rules/guidelines and more. Panelists include representatives from the field of accounting, legal and investments which are the forefront of Opportunity Zones/Funds. In addition, we will discuss how to marry Opportunity Zones/Funds with affordable housing programs.

PANELISTS

CHRIS AKBARI, ITEX

Raj Bandla

Locke Lord, LLP

3:30 - 4:45 PM MODERATOR

J.P. Delmore

National Association of Home Builders

George Littlejohn Novogradac & Company, LLP

Karen Przypyszny National Equity Fund

ACQUISITIONS AND DISPOSITIONS OF PROPERTIES AT YEAR 15 7th Floor, Park View B

Join us for a candid discussion between service providers about what is happening in the sales space for properties coming to the end of their initial compliance period.

Fifteen years ago developers checked the box on ROFR’s to non-profits. They got the points and now we are finding out what that means. Big bond deals that were built in the early 2000’s are now coming of age. We’ll discuss whether there is an appetite for that product and how are the deals are being structured. We will discuss this along with what you can be doing now on new deals to prepare for year 15.

PANELISTS

CLIFF MCDANIEL, NEWMARK KNIGHT FRANK

Chris Bergmann

Newmark Knight Frank

Michael Furrow JLL Capital Markets

Jeff Kunitz

CBRE Affordable Housing

Nancy Morton

Dauby O’Connor & Zaleski, LLC

Rachel ThomasPhillips CREA

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H U D

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A N D

M O R E

TUESDAY

8:30 - 9:45 AM MODERATOR

SECTION 811 AND NEWS FROM HUD 4th Floor, Lantana Room

This panel will discuss the provisions of the Section 811 program as used to generate scoring points under the Texas QAP, along with providing the latest news from HUD headquarters to attendees related to HUD programs, to include FHA-insured mortgages and rental assistance. Our panelists will also touch on current trends in combining Opportunity Zones with LIHTC and/or HUD assistance.

PANELISTS

SUSAN WILSON, NOVOGRADAC & COMPANY, LLP

Margaret Allen AGM Financial Services

Spencer Duran

Texas Department of Housing & Community Affairs

Ray Landry

Davis Penn Mortgage Company

Susan Meyers

U.S. Department of Housing & Urban Development

10:30 - 11:45 AM RAD EVOLUTION – TOOLS FOR AN EASIER, FASTER MODERATOR

AND BETTER RAD TRANSACTION 4th Floor, Lantana Room

Experts discuss RAD evolution from the perspective of those who approve and finance RAD transactions. Attendees will learn from industry leaders about ways to realize an easier, faster, and better RAD deal. Topics include efficiencies in development; underwriting from debt and equity partners; application of HUD tools; and pitfalls to avoid.

PANELISTS

MATTYE JONES, COATS ROSE, P.C.

Don Bernards

Baker Tilly Virchow Krause, LLP

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Kevin Deegan

Hunt Companies, Inc.

Mark Ragsdale PNC Real Estate

Tamara Torres

U.S. Department of Housing & Urban Development

H U D

J U LY

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A N D

M O R E

TUESDAY

1:45 - 3:00 PM MODERATOR

FHA DEBT: KEEPS GETTING BETTER 4th Floor, Lantana Room

There’s a reason more LIHTC deals are using FHA-insured debt than ever before.

For over a decade, FHA has intentionally improved their products to capture more affordable business. This panel will discuss the most recent changes.

PANELISTS

MICHAEL BACKMAN, MASON JOSEPH COMPANY, INC.

Janine Halverson

3:30 - 4:45 PM

CREATIVE FINANCING ALTERNATIVES (TO FILL THE FUNDING GAP)

MODERATOR

Wells Fargo

Leslie Meyers Bank of America Merrill Lynch

Andrew Sinnott

Texas Department of Housing & Community Affairs

Lantrina Stewart U.S. Department of Housing & Urban Development

4th Floor, Lantana Room

The demand is increasing for capital needs. As competition squeezes capital sources, it is critical that developers explore using “non-traditional” sources of financing to make their projects viable. Please join us as our esteemed panel discusses several of these alternative funding sources.

PANELISTS

CHRIS THOMAS, TIDWELL GROUP

Jason Arechiga

The NRP Group, LLC

Kevin Bowen

Enterprise/Bellwether Enterprise

Edwina Carrington

Mandy DeMayo

Austin Affordable Housing Corporation

Austin Housing and Community Development

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E M E R G I N G

J U LY

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I S S U E S

TUESDAY

8:30 - 9:45 AM MODERATOR

RURAL HOUSING CHALLENGES 4th Floor, Poppy Room

With intense discussion of affordable housing needs across major urban centers, this session will give you a rural focus and an opportunity to discuss with rural housing providers the difficulties and the successes when developing affordable housing in rural communities across the great state of Texas.

PANELISTS

MARK MAYFIELD, TEXAS HOUSING FOUNDATION

James Dunton

Raymond, James & Associates

Dennis Hoover

Hamilton Valley Management Group

Lora Myrick

Housing Lab by BETCO Consulting

Bill Rahuba

Churchill Stateside Group

10:30 - 11:45 AM PROACTIVE PRESERVATION: KEY ASSET MANAGEMENT MODERATOR

STRATEGIES TO TAKE ON THE CHALLENGES OF AGING PORTFOLIOS 4th Floor, Poppy Room

Our panel of experts will discuss strategies for financing, operating, and transferring properties to ensure long-term viability and preservation of affordability.

PANELISTS

CYNTHIA BAST, LOCKE LORD, LLP

Jacques Logan

National Equity Fund

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Granger MacDonald

MacDonald Companies, Inc.

Mike Sugrue

Evan Williams

StoneLeaf Development Capital One Bank Partners, LLC

E M E R G I N G

J U LY

23

I S S U E S

TUESDAY

1:45 - 3:00 PM MODERATOR

REBUILDING AFTER A DISASTER-HOW TO USE CDBG-DR FUNDING EFFECTIVELY 4th Floor, Poppy Room

Our panel of experts will provide an update on the status of CDBG-DR funding in Texas, Houston, and Harris County along with strategies for leveraging such funding; including the long-awaited “mitigation funding.” An update on bipartisan US Congressional efforts to enact permanent CDBG-DR legislation will also be provided.

PANELISTS

NEAL RACKLEFF, LOCKE LORD, LLP

Kent Burgess

CohnReznick, LLP

3:30 - 4:45 PM MODERATOR

Jeff Crozier

General Land Office

Ray Miller

Patricia Murphy

City of Houston

Texas Department of Housing & Community Affairs

USING TECHNOLOGY FOR MAXIMUM IMPACT OF RESIDENT SERVICES 4th Floor, Poppy Room

Experts will demonstrate how to successfully merge technology with resident services, curriculums and programs while focusing on ownership’s interest. They will share examples of technology integration which deepens resident impact and effectively tracks measurable outcomes. Learn how these techniques can produce thriving communities, stabilize financial performance of your assets and allow easy sharing of the success with your affiliates.

PANELISTS

ELLIE MILES FANNING, PORTFOLIO RESIDENT SERVICES

Flynann Janisse

Rainbow Housing Assistance Corporation

Meghan Garza CHR Partners

Angela King

Volunteers of America

Blanca Ramirez Hudson Housing Capital

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L E G I S L A T I V E

J U LY

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T R A C K

TUESDAY

8:30 - 9:45 AM MODERATOR

A LOOK INSIDE THE TEXAS QUALIFIED ALLOCATION PLAN (QAP) 3rd Floor, Congressional C

The Texas Qualified Allocation Plan (QAP) changes annually, and it drives the types and location of housing tax credit developments. This panel offers perspectives from the Texas Department of Housing and Community Affairs (TDHCA) as well as leaders in the development and consulting communities related to affordable housing policy in Texas. Panelists will discuss the priorities of TDHCA in the development of the 2020 QAP, proposed changes for 2020, and the implications of changes on the competitive landscape within the housing tax credit program.

PANELISTS

AUDREY MARTIN, PURPLE MARTIN REAL ESTATE

Marni Holloway

Texas Department of Housing & Community Affairs

Patrick Russell

Texas Department of Housing & Community Affairs

Mark Shelburne Novogradac & Company, LLP

Lisa Stephens Saigebrook Development

10:30 - 11:45 AM WHOSE HOUSE IS IT ANYWAY? PROPERTY TAX ISSUES RELATED MODERATOR

TO AFFORDABLE HOUSING 3rd Floor, Congressional C

This panel discusses tried and true deal structures to achieve property tax exemptions, as well as state law and other guidance that affects the valuation of affordable housing developments. Panelists will bring a wide range of perspectives on this important area of law that greatly affects ongoing property operations, and will cover legislative efforts undertaken to bring greater clarity and consistency to property valuation.

PANELISTS

JANINE SISAK, DMA COMPANIES, LLC

Nathan Kelley

Blazer Building Texas

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Alvin Lankford

Chief Appraiser Williamson County

Bill Walter

Coats Rose, P.C.

L E G I S L A T I V E

J U LY

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T R A C K

TUESDAY

1:45 - 3:00 PM MODERATOR

NIMBYISM STRATEGIES 3rd Floor, Congressional C

For developers of affordable housing, a certain amount of NIMBYism is virtually inevitable. Time consumed in countering the claims and tactics of affordable housing opponents can damage or derail a developer’s plans. At a time when large segments of the population have been priced out of many neighborhoods, the need to defuse NIMBYism is critical. Our panelists will share innovative strategies used by housing developers and proponents including unique boots-on-the-ground approaches, policy changes, and online community engagement to impact outcomes with surrounding neighbors, property owners, community activists, and elected officials.

PANELISTS

TERRI ANDERSON, ANDERSON DEVELOPMENT & CONSTRUCTION, LLC

Karin Brandt coUrbanize

3:30 - 4:45 PM MODERATOR

TONI JACKSON, THE BANKS LAW FIRM

Jay Johnson Cohen-Esrey

Walter Moreau Foundation Communities

86TH LEGISLATIVE SESSION UPDATE 3rd Floor, Congressional C

The Texas Legislative Session this year was one of the most active for housing issues in quite a while. Your advocacy organizations were on the ground and blanketing the Texas Capitol from day one making the argument for common sense housing legislation across the spectrum of elected officials. Former TAAHP President and 2018 Jean MacDonald Award recipient, Toni Jackson, will moderate a discussion regarding this Legislative Session’s efforts by our key housing development trade organizations.

Toni’s conversation with Roger Arriaga of TAAHP, Jeanne Talerico of TALHFA, David Mintz of TAA, and Scott Norman of TAB will highlight the results of their efforts to promote legislation that streamlines regulatory processes, reduces development costs, and clarifies ambiguous law so that our industry members can work to address the extreme shortage of housing supply in Texas.

PANELISTS

Roger Arriaga

Texas Affiliation of Affordable Housing Providers

Dave Mintz

Texas Apartment Association

Scott Norman

Texas Association of Builders

Jeanne Talerico

Texas Association of Local Housing Finance Agencies

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P O L I C Y

J U LY

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B R U N C H

WEDNESDAY

8:00 - 8:45 AM SPEAKER

BREAKFAST WITH KEYNOTE SPEAKER 5th Floor, Manchester Ballroom E-G

State Senator Eddie Lucio has had a huge impact on the housing production of affordable housing production. In the 86th Legislative Session, as Chairman of the Intergovernmental Relations Committee, he passed legislation that modernized the use of tax exempt bond financing to provide increased economic and housing development opportunities. His ability to bring stakeholders together and build consensus contributes to his reputation as a true public servant. Senator Lucio is a native of Brownsville, Texas and was elected State Senator in 1991. He also sits on the Committees on Natural Resources & Economic Development, Veterans Affairs and Military Installations, the Subcommittee on Border Security, and serves as Vice Chairman of Senate Education Committee.

EDDIE LUCIO, TEXAS STATE SENATOR, DISTRICT 27

8:45 - 9:45 AM MODERATOR

WASHINGTON WIRE- TAX REFORM ONE YEAR LATER 5th Floor, Manchester Ballroom E-G

The 2017 Tax Cuts and Jobs Act, or Federal Tax Reform, has been in place for over a year now. See how this policy has worked with newly established Opportunity Zones, the value of tax credits, levels of federal appropriations, and rising development costs.

TAAHP Board Member Tom Dixon moderates a panel with Washington housing policy and finance experts who have the latest facts on how Tax Reform has impacted investments in affordable housing.

PANELISTS

TOM DIXON, BOSTON CAPITAL

David Gasson Boston Capital

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Beth Mullin

CohnReznick, LLP

Monica Sussman Nixon Peabody, LLP

P O L I C Y

J U LY

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B R U N C H

WEDNESDAY

9:45 - 10:30 AM MODERATOR

A RE-CAP OF THE 86TH LEGISLATIVE SESSION (WITH ELECTED OFFICIALS) 5th Floor, Manchester Ballroom E-G

There was much activity impacting affordable housing during the 86th Texas Legislature.

The changing dynamics of the legislature’s leadership and makeup had much to do with the policy outcomes that will impact industry. Hear directly from our elected state leaders about what they see as the vital outcomes from the legislative session that will affect housing policy in Texas.

INVITED PANELISTS

BOBBY BOWLING, TROPICANA HOMES

Angie Button

Texas State House of Representatives, District 12

Carol Alvarado

Texas State Senator, District 6

José Menéndez Texas State Senator, District 26

10:45 - 11:30 AM AGENCY LEADERS TALK AFFORDABLE HOUSING MODERATOR

5th Floor, Manchester Ballroom E-G

As the demand for affordable housing continues to increase, we look to innovative solutions with our public agencies who are responsible for administering critical scarce resources. TAAHP Immediate Past President K. Nicole Asarch will moderate a distinguished panel of state executives in a discussion of how we are collectively addressing issues surrounding the affordable housing crisis.

PANELISTS

K. NICOLE ASARCH, ROCK REAL ESTATE, LTD.

11:45 - 12:00 PM

David Cervantes

Texas Department of Housing & Community Affairs

Rob Latsha

Texas Bond Review Board

A LOOK AHEAD TO 2020

5th Floor, Manchester Ballroom E-G

Debra Guerrero

The NRP Group, LLC TAAHP 2018-2019 President

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S P E C I A L

E V E N T

T E X A S A F F I L I AT I O N O F A F F O R D A B L E H O U S I N G P R O V I D E R S

Proudly Presents

WEDNESDAY

JUL 24

2019 1:00 P.M. - 4:00 P.M.

BEAT THE HEAT

JOIN US FOR FUN - FOOD - DRINKS - GAMES Enjoy lunch, drinks, games, silent auction, prizes for the winners plus networking with friends and colleagues.

FREE bus transportation from The Fairmont!

TICKETS 175/player | $1,000/team of 6 |

$

$

75/guest

Competitive Play or Recreational Play Options

REGISTER TAAHP.org/event/Topgolf 2700 ESPERANZA CROSSING AUSTIN, TX 78758 Topgolf offers a competitive, yet fun golf challenge for all players regardless of skill level!

Thank You Sponsors

All net proceeds benefit the TAAHP scholarship fund for students living in eligible Affordable Housing Communities in Texas.

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CAN’T ATTEND? Make a donation to the TAAHP Scholarship Fund.

Visit taahp.org/event/topgolf

SVN Affordable | Levental Realty is a nationally recognized leader in the niche market of Affordable Housing brokerage focusing solely on valuing, marketing and selling Project-Based Section 8 and Section 42 housing through our national platform and proprietary database. Our financial, regulatory and statutory expertise, paired with our strategic alliance of industry professionals, allows us to successfully identify a customized disposition strategy and transaction structure that ensures maximum value and minimal risk for our clients.

REQUEST AN OPINION OF VALUE If you are interested in obtaining a formal opinion of value for your Affordable Housing asset or partnership interest, please contact us at 513.321.7589.

Gene Levental, Managing Director gene.levental@svn.com

David Shlahtechman, Senior Advisor david.shlahtechman@svn.com

Jamie Renzenbrink, Senior Advisor jamie.renzenbrink@svn.com

Carson Stephens, Senior Advisor carson.stephens@svn.com

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A BIG THANK YOU To Our Past Presidents 2017-2018

2016-2017

K. Nicole Asarch Rock Real Estate, Ltd./ Staffable Africa

Bobby Bowling Tropicana Building Corp.

2015-2016

2014-2015

2013-2014

Mahesh Aiyer Citi Community Capital

Justin MacDonald MacDonald Companies

George Littlejohn Novogradac & Company, LLP

2012-2013

2011-2012

2010-2011

Barry Kahn Hettig-Kahn Development Co.

Antoinette M. “Toni” Jackson The Banks Firm

Dan Markson The NRP Group, LLC

2009-2010

2008-2009

2007-2008

Linda McMahon Neighborhood Strategies, LLC

Mike Sugrue Stoneleaf Companies

Mike Clark Alpha-Barnes Real Estate Services

2006-2007

2005-2006

2004-2005

Diana McIver DMA Development Co., LLC

Jerry Wright Dougherty & Company, LLC

Granger MacDonald MacDonald Companies

2002-2003

2001-2002

Mike Lankford Mike Lankford Interests, LLC

Chris Bergman TCR Affordable Housing, Inc.

JOT Couch Texas Inter-Faith Supportive Services

2000-2001

1999-2000

1998-1999

Sally Gaskin SGI Ventures, Inc.

Dick Kilday Kilday Realty Corp

Edwina Carrington CHK Enterprise, LLC

2003-2004

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JEAN W. MACDONALD LIFETIME ACHIEVEMENT AWARD

Congratulations to our previous recipients: 2011 Jean W. MacDonald 2012 Edwina Carrington 2013 Diana McIver 2014 Cynthia Bast 2015 Jeanne Talerico 2016 Joy Horak-Brown 2017 Ginger McGuire 2018 Antoinette “Toni” Jackson

Award presentation will be held during the annual Texas Housing Conference Luncheon on Tuesday, July 23, 2019.

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JEAN W. MACDONALD LIFE

I

n 2011, the Texas Affiliation of Affordable Housing Providers (TAAHP) created the Jean W. MacDonald Affordable Housing Lifetime Achievement Award. This award honors and recognizes a woman in the affordable housing industry in Texas who exhibits trailblazing courage and has demonstrated exceptional leadership qualities. More specifically, the award recipients embody the philosophy of providing quality, affordable housing to all Texans.

Association of Builders and in 2010 was inducted in the Texas Housing Hall of Honor for her lifetime achievements in the industry. Jean is a posthumous recipient of the Exemplary Service to Home Building Award, given by the National Housing Hall of Fame.

Antoinette “Toni” Jackson 2018 Recipient

Jean W. MacDonald was the inaugural recipient and namesake of the Jean W. MacDonald Affordable Housing Lifetime Achievement Award.

Mrs. MacDonald was an industry trailblazer who was active for many years in the home building and development business; building some of the most prestigious neighborhoods and communities in Austin, Kerrville and around the state of Texas. At a time when it was difficult for a woman even to get a credit card in her own name, she managed to grow a business in a male-dominated industry, becoming one of the most successful custom home builders in Austin, Texas. Later in her career, Jean and her son Granger pivoted into developing and building affordable multifamily housing throughout rural areas of Texas after seeing the drastic need of our state to house its growing workforce.

Mrs. MacDonald was the first woman to serve as president of the Home Builders Association (HBA) of Greater Austin, formerly called the Texas Capitol Area Builders Association (TXCABA). Moreover, she was appointed and subsequently reappointed to the Board of Directors of the Federal Home Loan Bank of Dallas under the administrations of Presidents Reagan, Bush, and Clinton; and served as the Bank’s Chairwoman for six years.

In addition, Jean was involved in the National Association of Home Builders (NAHB) and was a senior life director of that organization. She was a founding member of NAHB’s Build-PAC and served as a trustee and founding member of its Capitol Club. Mrs. MacDonald was also a director of the Texas

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Jean additionally served as a board member and Fiesta Chairman for Laguna Gloria Art Museum in Austin, a Vice Commodore of the Austin Aqua Festival, and a board member of the Austin Symphony.

A proud Longhorn, she was a Life Member of the University of Texas Ex-Students’ Association as well.

With Jean’s long list of accomplishments in mind, the Jean W. MacDonald Affordable Housing Lifetime Achievement Award is given to a woman who has made outstanding contributions to the affordable housing industry in Texas, voiced her opinions with courage, respected others’ points of view, and stood up for those needing support. The MacDonald recipient is a woman who is seen as a true innovator in the affordable housing industry and through her actions has improved or increased access to affordable housing for Texans.

We are proud to honor all of the recipients of the Jean W. MacDonald Affordable Housing Lifetime Achievement Award: 2011

Jean MacDonald (posthumously)

2012

Edwina Carrington

2013

Diana McIver

2014

Cynthia Bast

2015

Jeanne Talerico

2016

Joy Horak-Brown

2017

Ginger McGuire

2018

Antoinette M. “Toni” Jackson

TIME ACHIEVEMENT AWARD

This award honors and recognizes a woman in the affordable housing industry in Texas who exhibits trailblazing courage and has demonstrated exceptional leadership qualities.

Left to Right Ginger McGuire, Diana McIver, Jeanne Talerico, Toni Jackson, Edwina Carrington, Cynthia Bast, Joy Horak-Brown

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Award-Winning Programs Stabilizing Communities Empowering Residents Creating Value Based Living Lifting Lives rainbowhousing.org (888) 299-8915

The Power of Partnerships The 27th Annual TALHFA Educational Conference

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WE KNOW TEXAS Current Listings Brokerage Sale Financing

CLOSED BROKERAGE

115

19,535 $873M

PROPERTIES

UNITS

VOLUME

DEBT ORIGINATION

35

6,167

$

346M

PROPERTIES

UNITS

VOLUME

VALUATIONS

774

119,459

PROPERTIES

UNITS

*sales and financing through June 2019

At CBRE Affordable Housing, our high volume of valuations, sales, and lending transactions enable us to leverage real-time buyer, seller, and capital intelligence, providing our clients the most useful affordable housing market insights nationwide. How can we help transform your real estate investments into real advantage? +1 206 826 5800 | cbre.us/affordablehousing

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E X H I B I T O R S

&

S P O N S O R S

EXHIBITORS & SPONSORS

LEARN MORE ABOUT OUR PARTNERS

E X H I B I T O R S

&

S P O N S O R S

1Bank of America Merrill Lynch

64

49

Baldwin Cox, Allen & J4 Develop.

34

Cohn Reznick

50

48

35

33

51

47

36

32

61

52

46

37

31

60

53

45

38

Broaddus Const.

Federal Home Loan Bank of Dallas

59

54

44

39

29

55

43

40

28

Seldin Co

63

National Church Residences

RBC Capital Markets

The Richman Portfolio Group Resident Aordable Services Housing Corp

Raymond Newmark Knight James Tax Credit Funds Frank

62

R4 Capital

Locke Lord LLP

Hudson Housing Capital

Rinnai America

Amegy Bank

Highridge Costa

Bowen National Research

Goodman Mfg Co L.P.

National Equity Fund, Inc

Auto-Out Kinetic Cooktop Fire Valuation Protection Group

Churchill Stateside Group

BNY Mellon

58

Ward, Getz & Associates

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Alliant Capital

Mayfair JLL Capital Management Markets Group

Phase Engineering

57

Alan Plummer & Assoc.

56 Const.

EcoServices

42

Red Capital

Tidwell Group

41

27

Novogradac & Co LLP

30

Galaxy Builders

CenterPoint Energy

Bonneville Baker Multifamily Tilly Capital

26

Brown, Graham & Co P.C.

E X H I B I T O R S

2

18

Gardner Capital Inc

JP Morgan Chase

19

17

Coats Rose, P.C.

3

16

Enterprise & Bellwether Enterprise

Shackelford, Bowen, McKinley & Norton, LLP

Centrant Community Capital

5

Jones Walker LLP

14

FDI Property Management Group Inc

6

23

13

7

24

12

8

CREA, LLC

22

CBRE Affordable Housing

25

11

10

NRP Const.

Services

WIFI PASSWORD 2019THC

CONNECT TO FAIRMONT_MEETING

The Michaels Org Wallace Architects

Capestone Compliance Services

KeyBank Real Estate Capital

Highland Fox Commercial Energy Mortgage Specialists

EXHIBIT HALL HOURS Monday 3-7pm Tuesday 9:30am - 6:30pm

BOK Financial

Wilmington Pavillion Construction Trust LLC Dauby O’Connor & Zaleski

Exhibit Layout

4

15

21

S P O N S O R S

Fairmont Austin Manchester Ballroom A-D

Capital Wells One Bank Fargo

20

&

9 Carleton Management

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E X H I B I T O R S

&

S P O N S O R S

Diamond Bank of America Merrill Lynch Booth 1

Valerie A. Williams, SVP, Relationship Manager 901 Main Street, 20th Floor, Dallas, TX 75202-3714 214-209-3219; valerie.a.williams@baml.com www.bankofamerica.com/community

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 taxcredit 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 ten years, and our unique business model includes the nation’s first, largest and most active bank-owned Community Development Corporation.

Sapphire CohnReznick LLP Booth 49

Matt Stille, Partner 816 Congress Avenue, Suite 200, Austin, TX 78701 512-494-9100; matt.stille@cohnreznick.com www.cohnreznick.com

Gardner Capital Development Booth 2

Gardner Capital, Inc. Michael Gardner, Principal 2501 N. Harwood Rd., Suite #1501, Dallas, TX 75201 Direct: 314-561-5901; Mobile: 214-842-0215 Fax: 314-963-9995; michael@gardnercapital.com www.gardnercapital.com

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CohnReznick is one of the largest accounting, tax, and advisory firms in the United States and a leader in the specialized community development and affordable housing industry practice. We provide compliance, advisory, and tax consulting for clients across the LIHTC, Opportunity Zone, and tax credits spectrum including developers, investors, syndicators, and public housing agencies.

Gardner Capital Development: Developing Partnerships, Building Communities, Changing Lives. 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 for over 50 communities. CEO Michael Gardner continues to expand the national footprint of renewable energy, market rate housing, affordable housing, private equity, and construction management across the United States.

E X H I B I T O R S

&

S P O N S O R S

Sapphire JP Morgan Chase Booth 18

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

J4 Development & Baldwin-Cox-Allen Booth 64

J4 Development Chris Darby 1700 Jay Ell Drive, Suite #100, Richardson, TX 75081 Tel: 972-930-7075 ext113; Mobile: 214-498-5183; Fax: 972-739-5073; cdarby@j4development.com www.j4development.com

Baldwin – Cox – Allen 5930 Preston View Blvd., Suite 200, Dallas, TX 75240 Russ Frenzel, Producer 972-331-3725; russ@baldwinagency.com Brady Cox, Principal 972-331-3717; brady@baldwinagency.com www.baldwinagency.com

We take pride in working to develop vibrant and diverse communities capable of sustaining a high quality of life and economic opportunity. Our Community Development Banking business provides loans, investments, and community development services that meet the needs of lowand moderate-income households and communities across the U.S. As a national leader in community development, we’re dedicated to strengthening communities by expanding access to capital, providing leadership by example, and delivering the comprehensive solutions of our global bank.

J4 Development provides multifamily general contracting services nationwide for LIHTC owners and developers. Specializing in Affordable, Workforce, Senior, and Adaptive Reuse housing. The organization began in 2004 in Texas, and over the past 14 years has expanded its footprint into 38 states. J4 began working on its first LIHTC projects in 2006. Since then, the company has successfully completed affordable housing projects in 16 states. The majority of these were financed with HUD 221(D)4 loans.

With over $400 million in completed projects, J4 Development has solidified itself as one of the premier general contractors in the LIHTC Multifamily Industry.

Baldwin-Cox-Allen is an independent Commercial Insurance and Construction Bonding Agency providing services nationwide. We specialize in establishing surety bonds with exclusive niche markets that cater to Owners, Developers, General Contractors, and HUD-financed projects.

Our industry leading Builders Risk and Property insurance programs offer multi-family and office building coverages that protect your investment.

Our years of experience focusing on bonding and insurance, industry relationships, and our consultative approach are all geared toward maximizing your profitability and taking your company to the next level.

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Sapphire R4 Capital LLC Booth 34

Marc Schnitzer, President and CEO 780 Third Ave., 16th Floor New York, NY 10017 646-576-7659; MSchnitzer@r4cap.com www.R4cap.com

R4 Capital is a nationwide affordable housing tax-credit syndicator, lender, and asset manager. Since 2012, R4 Capital has raised and managed more than $2.5 billion of LIHTC equity from more than 80 institutional investors in 17 multi-investor funds and eight proprietary funds. In 2016, R4 Capital launched R4 Capital Funding, a tax-exempt lending business that provides mortgage capital for affordable multifamily housing properties. Since inception, R4 Capital Funding has closed over $800 million of tax-exempt debt. Learn more at R4cap.com.

Platinum Capital One Bank Booth 19

Ben Glispie 8000 Dominion Pkwy, 2nd Floor, Plano, TX 75024, 972-295-1031; benjamin.glispie@capitalone.com www.capitaloneinvestingforgood.com

Citi Community Capital

Mahesh Aiyer 2700 Post Oak Blvd., Houston, TX 77056 713-752-5046; mahesh.aiyer@citi.com www.citicommunitycapital.com

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Capital One Bank services customer accounts through the Internet and mobile banking, as well as through cafés, ATMs, and branch locations in multiple locations in Texas. Capital One recognizes that housing plays a crucial part in neighborhood revitalization, and since 2007 has invested $10.1 billion in affordable housing through loans and investments, helping to create more than 116,400 safe, affordable units. To learn more, visit www.capitaloneinvestingforgood.com.

Committed to the communities we serve, Citi Community Capital finances both straightforward and highly structured transactions for non-profit and for-profit developers, CDFIs, and state and local government agencies. We are generally recognized to be among the most creative and innovative firms in the industry and with Citi’s capital committing capability and team of experienced professionals, we are able to provide financing solutions that are specifically designed to meet each client’s needs.

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Platinum Hunt Capital Partners

For Developer Inquiries, please contact: Dana Mayo, Executive Managing Director 818-380-6130; Dana.Mayo@huntcompanies.com

Hunt Capital Partners (HCP) is the syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the syndication of Federal and State LowIncome Housing, Historic and Solar Tax Credits. Since the successful launch of its first fund in the fall of 2011, HCP has raised over $1.7 billion in tax credit equity.

For Investor Inquiries, please contact: Jeff Weiss, President 818-380-6131; Jeff.Weiss@huntcompanies.com www.huntcapitalpartners.com

Portfolio Resident Services Booth 33

3701 Kirby Drive, Suite 860, Houston, TX 77098 713-526-6634; frontdesk@ti-f.org www.portfolioresidentservices.org

RBC Capital Markets Booth 48

RBCCM Tax Credit Equity Group Dan Kierce, Managing Director 216-875-6043; daniel.kierce@rbccm.com www.rbccm.com/tceg

For over 20 years, PRS is a nonprofit organization dedicated to establishing resident service programs within affordable and conventional housing communities. We design, staff, implement and track programs that proactively assist residents in both the short and long term resulting in a stronger community improving asset performance. PRS is one of the largest third-party providers in the nation.

RBC Capital Markets Tax Credit Equity and Housing Finance Groups provide equity capital by utilizing Federal and State LIHTC, HTC, NMTC and RETC programs, and offer a complete range of multifamily solutions to meet the needs of developers, investors, PHAs and HFAs. Since its inception, RBCCM-TCEG raised over $10 billion of equity, including $667MM RBC RETC Direct Investments, and has 966 assets nationwide. In 2018, RBCCM served as senior manager on 93 housing finance projects raising over $3.8 billion for clients and ranked as the No. 1 underwriter in the country for single and multifamily housing issues.

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Platinum The Richman Group Affordable Housing Corporation Booth 35

Peter McHugh, Executive Vice President 340 Pemberwick Road, Greenwich, CT 06831 203-869-0900; mchughp@richmancapital.com www.therichmangroup.com

Seldin Company Booth 50

Alicia Stoermer Clark, President/CEO 16910 Frances St. Suite 200 , Omaha, NE 68130 402-333-7373; alicia.clark@seldin.com www.seldin.com

Wells Fargo Booth 17

Misty Ramsey 201 Main Street, Suite 300, Fort Worth, TX 76102 682-316-1299; misty.d.ramsey@wellsfargo.com www.wellsfargo.com/affordablehousing

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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.

Seldin Company is a leading multifamily property management organization with over 95 years of industry experience. Seldin manages over 15,000 apartment homes across seven states, including luxury apartments, HUD-assisted and Housing Tax Credit communities. We pride ourselves on being the benchmark for the property management industry with owners relying on our experienced team for timely, detailed reporting and strategic, customized management and oversight.

At Wells Fargo, we work hard to help our customers and communities succeed. As a leader in affordable housing lending and investing, 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.

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Gold Coats Rose Affordable Housing and Community Development Group Booth 20

Barry J. Palmer, Director 9 Greenway Plaza, Suite 1000, Houston, Texas 77046 713-653-7395; bpalmer@coatsrose.com www.coatsrose.com

Hudson Housing Capital Booth 32

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

Locke Lord, LLP Booth 36

Cynthia L. Bast, Partner 600 Congress Avenue, Suite 2200 Austin, TX 78701 512-305-4700; cbast@lockelord.com www.lockelord.com

The Coats Rose Affordable Housing and Community Development Group has extensive experience and is focused on the development of affordable housing and inner-city revitalization. We represent forprofit 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. We have particular expertise in closing Public Housing RAD transactions.

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 526 low-income housing tax credit investments— preserving or creating over 54,857 multi-family rental units. The firm has placed more than $5.478 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.

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 thousands of transactions nationwide, addressed compliance and regulatory matters, advocated for change in legislation and rules, and implemented preservation strategies. Our team has the key to success in your affordable housing endeavors.

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Gold Newmark Knight Frank Booth 47

Cliff McDaniel, Executive Managing Director 1700 Post Oak Blvd, 2 BLVD Place, Suite 400, Houston, TX 77056 Tel: 713-425-5404; Mobile: 713-249-4509 cliff.mcdaniel@ngkf.com; www.aranewmark.com/national-practice-groups/ affordable-housing.html

Raymond James Tax Credit Funds, Inc. Booth 51

James Dunton, VP-Managing Director of Acquisitions 880 Carillon Pkwy, St. Petersburg, FL 33716 727-567-4803; james.dunton@raymondjames.com www.rjtcf.com

Shackelford, Bowen, McKinley & Norton, LLP Booth 16

Kim Meredith 9201 N. Central Expressway, Fourth Floor Dallas, TX 75231 214-780-1400; kmeredith@shackelfordlaw.law www.shackelfordlaw.law

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Newmark Knight Frank’s Affordable Housing group delivers advisory and brokerage services to owners of multifamily properties financed using Low Income Housing Tax Credits, Tax Exempt Bonds and HUD rental/financing subsidies. We leverage our experience in financing tax-exempt bonds, FHA loans, and agency loans for affordable housing. We also understand that a successful exit strategy for affordable housing requires diligence and experience navigating through various partnership agreements, regulatory agreements.

Raymond James Tax Credit Funds is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSE-RJF). 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 $9 billion in equity for more than 2,000 tax credit projects in 47 states.

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, family law, 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.

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Silver CBRE Affordable Housing Booth 15

Robert Sheppard, Managing Director, Vice Chairman 1420 Fifth Ave, Suite 1700, Seattle, WA 98101 206-830-6464; affordablehousing@cbre.com www.cbre.com/affordablehousing @CBREAffordable

CenterPoint Energy Booth 28

Eisen Scherwitz, Multi-family Sales Representative - Texas 1111 Louisiana #924B, Houston, TX 77002 713-207-5470; eisen.scherwitz@CenterPointEnergy.com www.centerpointenergy.com/Multi-Family

CREA, LLC Booth 52

Rachel Thomas, Vice President-Acquisitions 1515 S. Capital of Texas Highway, Suite 306 Austin, TX 78746 512-861-4081; rthomas@creallc.com www.creallc.com

At CBRE Affordable Housing, we provide the market intelligence and expertise that enhances decision making and a team that provides transaction execution confidence. Insight achieved from three vertically integrated affordable housing services—investment sales, debt, and structured finance, and investment banking—and a transaction track record created from the most experienced team in the industry, allow us to leverage real-time buyer, seller, and capital knowledge in order to provide industry-leading advice and results.

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.

At CREA, LLC, we are more than capital providers. We are partners.

We specialize in low-income housing tax credits, forming long-term relationships with investors and developers that cultivate success and improve lives. CREA is headquartered in downtown Indianapolis and has offices in Austin, Boston, Chicago, New York, Portland, San Diego, and Sarasota. More information can be found online at www.creallc.com.

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Silver Berkadia

Lloyd Griffin, Managing Director, Affordable Housing 901 S MoPac Expressway, Building Two, Suite 430 Austin, TX 78746 Tel: 512-226-8704; Mobile: 615- 403-6074 lloyd.griffin@berkadia.com; www.berkadia.com

Dauby O’Conner & Zaleski, LLC Booth 24

Blake Schrader 501 Congressional Blvd, Suite 300 Carmel, IN 46032 317-848-5700; bschrader@doz.net www.doz.net

Diamond Property Consultants, Inc.

2113 Kings Pass, Heath, TX 75032 Tel: 972- 475-9977 ext. 101; Mobile: 972- 672-7681 Fax: 972-771-8288; jbeats@dpcservices.net www.dpcservices.net

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Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, 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.

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 affordable multi-family housing arena, coupled with a centralized operational location, differentiates DOZ from other national firms. The result is a client experience that stands alone.

Diamond Property Consultants, Inc. (DPC) has been serving the multifamily housing industry since 1999, creating positive business results for property owners, managers, developers, and lenders. The DPC team of experienced professionals specialize in utility allowance studies, including the Energy Consumption Model (ECM) and Written Local Estimate (WLE).

DPC’s utility allowance services are ideal for all types of LIHTC properties with any utility mix that require an approved alternative utility allowance methodology.

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Silver Goodman Manufacturing Company, L.P. Booth 37

Dick Rydzeski, Director National Accounts 5151 San Felipe, Suite 500, Houston, TX 77056 713-263-5249; dick.rydzeski@goodmanmfg.com www.goodmanmfg.com

Highridge Costa Booth 52

Moe Mohanna, President Highridge Costa Development Company 330 W. Victoria St, Gardena, CA 90248 424-258-2800; www.housingpartners.com

JLL Capital Markets Booth 43

Tim Leonhard, Managing Director 625 West College Street, Grapevine, Texas 76051 817-310-5800; tim.leonhard@am.jll.com www.us.jll.com/multifamily

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.

Highridge Costa is among America’s leading developers, financiers, owners and operators of affordable workforce and senior apartment communities.

With 27,000 units across 280 apartment communities invested in and developed, Highridge Costa brings tremendous development experience to the table and has formed strong relationships with institutional lenders and public-sector agencies alike. At Highridge Costa, we are committed to creating high-quality, affordable housing through building living communities that meet both individual and city growth planning needs.

JLL is a full-service global provider of capital solutions for real estate investors and occupiers. Our U.S. Capital Markets specialists completed over $59 billion in sales and finance transactions in 2018. As one of the nation’s largest multifamily agency lenders(1), we maintain strong relationships with Fannie Mae, Freddie Mac, and HUD/GNMA. Our dedicated affordable housing team completed over $1.2 billion in deals in 2018, and we have a loan servicing portfolio totaling over $6.3 billion in affordable housing loans. 1Agency/GSE lending and loan servicing is performed by Jones Lang LaSalle Multifamily, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

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Silver KeyBank Real Estate Capital Booth 12

Hector Zuniga 512-660-9401 hector_x_zuniga@keybank.com www.keybank.com

Mayfair Management Group Booth 55

Susanne Kleins, President 7920 Belt Line Road, Suite 800 Dallas, TX 75254 214-265-7227; susanne.kleins@mayfairmgt.com www.mayfairmgt.com

National Equity Fund Booth 46

Jason Aldridge, Vice President Dallas, Texas 972-741-5150; jaldridge@nefinc.org www.nefinc.org

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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 onestop-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.

Mayfair Management Group is a full-service Property Management Solutions provider serving multi-family residential properties and their owners throughout the United States. As a leading property management company, we are anything but “business as usual.” Mayfair offers our clients total transparency while keeping them informed of all industry changes.

Mayfair’s service philosophy starts with our team. Our commitment to hiring, training and supporting people who are motivated by smart solutions and shared success is unwavering. That commitment extends to you, your team and the success of your properties.

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. We have played an integral role in creating affordable housing options, revitalizing communities, and strengthening local economies since 1987. Our investments total more than $15.3 billion in 2,687 LIHTC developments, which created 176,804 affordable homes for low-income families and individuals.

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Silver Novogradac & Company, LLP Booth 31

George Littlejohn, Susan Wilson, Phong Tran, Nick Hoehn, John Cole, Tiffany French 11044 Research Blvd, Ste C-400, Austin, TX 78759 512-340-0420; www.novoco.com george.littlejohn@novoco.com, susan.wilson@novococom, phong.tran@novoco.com, nick.hoehn@novoco.com, john.cole@novoco.com, tiffany.french@novoco.com www.novoco.com

Red Stone Equity Partners

Drew Foster, Director, Acquisitions 805 Third Avenue, 15th Floor New York, NY 10022 646-690-6110; www.rsequity.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

Novogradac & Company LLP is a national certified public accounting and consulting firm with over 25 offices nationwide. Our clients represent a broad range of industries, with an emphasis in real estate. We work extensively in affordable housing, community revitalization, rehabilitation of historic properties, renewable energy and the opportunity zones (OZ) incentive and provide our clients with a full spectrum of audit, tax, valuation, expert witness and litigation support, property compliance and general consulting services.

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.

The Southeast Texas Housing Finance Corporation (SETH) is actively involved in the affordable multifamily housing industry. SETH issues tax-exempt bonds for multifamily developments and participates in FHA’s 223(f) & 221(d)4 programs. SETH has owned over ten multifamily developments and currently is in the ownership structure of 4 Tax Credit Developments, one affordable housing development and about to break ground on a 119-unit Senior development. SETH’s Members include 9 Counties and 11 Cities within Region 6.

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Silver Sonoma Housing

214-608-7201 www.SonomaAdvisors.com

Tidwell Group Booth 25

Christopher N. Thomas, CPA Office Managing Partner – Austin Office 1080 N. Mopac Expressway, Building 1, Suite 130, Austin, TX 78759 512-693-2181; Chris.Thomas@TidwellGroup.com www.TidwellGroup.com

Wilhoit Properties, Inc.

Rowe Shockley, Executive Vice President Paula Wilhoit, Vice President 1329 E. Lark, Springfield, MO 65804 417-883-1632; rshockley@wilhoitproperties.com pwilhoit@wilhoitproperties.com www.wilhoitliving.com

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Sonoma Housing Advisors is consistently one of the top performers in this industry. Its leadership has more than 25 years of experience in the development and financing of quality apartments and townhomes.

SHA has been directly involved in the application process, development, financing and/or construction of over 12,500 living units – and has received HOME, CDBG, and 9% or 4% housing tax credit awards every year since 1996. In 2018, Sonoma’s clients closed more than $150 million in 4% and 9% transactions totaling approximately 1,250 units.

Tidwell Group is a full-service accounting and consulting firm that specializes in the real estate and construction industries. Our experienced professionals serve all asset classes within the affordable housing industry.

Our expertise ranges from low-income housing tax credits, bond and conventional financing, HUD compliance and reporting and USDA-Rural Development compliance and reporting. Our focus is on developing long term client relationships through value-driven results. Our team is ready to roll up our sleeves and make an immediate impact on your business.

Our expertise, partnership mentality, and hands-on approach enable us to offer advice and new opportunities to improve your business.

Wilhoit Properties is dedicated to providing high-quality, accessible, and affordable housing for today’s family or senior resident. Founded in 1969, our core strength is a corporate team that delivers hundreds of years of combined experience in property management. Currently, we manage 217 properties in 15 states, including 37 developments & 4,000+ units in the Lone Star State, of which all were development utilizing LIHTC. When a need or opportunity arises, make Wilhoit Properties your welcome home to affordable housing solutions.

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Bronze AGM Financial Services, Inc.

Margaret Allen 20 South Charles Street, Suite 1000 Baltimore, MD 21201 443-573-2045; mallen@agmfinancial.com www.agmfinancial.com

Alan Plummer Associates, Inc. Booth 39

Eddie Wilcut Water & Energy Efficiency Practice Leader 6300 La Calma Drive, Suite 400 Austin, TX 78752 Direct: 512-687-2191; Main: 512-452-5905 ewilcut@apaienv.com; www.apaienv.com www.apaienv.com/practice-areas/util-advance-modeling

The FHA Expert - It’s All We Do! Financing Multi-family Communities 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.

AGM closed $500,000,000 in 2018.

ALAN PLUMMER ASSOCIATES, INC. (APAI) has conducted business with quality and integrity for 40 years. A regional firm founded with a vision to uphold environmental stewardship and technical excellence, APAI is committed to serving our clients with distinction and integrity. We specialize in developing custom utility allowances for Low Income Housing Tax Credit (LIHTC) Properties. Using a custom utility allowance, LIHTC properties are able to decrease monthly utility allowances and increase net operating income.

Founded in 1997, Alliant Capital, Ltd., has established itself as one of the nation’s top sponsors in syndication volume and has an unparalleled track record of success. Alliant has raised over $7.4 billion in investor equity and invested in over 970 properties comprised of over 99,000 LIHTC units.

Alliant Capital, Ltd. Booth 44

Jennifer Erixon 21600 Oxnard St., Suite 1200, Woodland Hills, CA 91367 303-916-6311; jen.erixon@alliantcapital.com www.thealliantcompany.com

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Bronze Amegy Bank Booth 61

Mary Jane Henson, Sr. Vice President 713-232-6036; maryjane.henson@amegybank.com Arla Scott, Vice President 713-232-1919; arla.scott@amegybank.com www.amegybank.com

Austin Affordable Housing Corporation

Michael Gerber, President & CEO 1124 South IH 35, Austin, TX, 78704-2614 512-477-4488; michaelgerber@hacanet.org www.hacanet.org

Auto-Out® Cooktop Fire Protection Booth 53

1911 Windsor Place, Fort Worth, TX 76110 817-924-1370 Robin Williams, Vice President r.williams@auto-out.com Kelli Esposito, Account Manager k.esposito@auto-out.com www.auto-out.com

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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 highly qualified trust professionals to lend invaluable experience and expertise.

Visit www.amegybank.com/corporatetrust for more information.

Austin Affordable Housing Corporation (AAHC) was established in 2003as 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.

Loss of rental income, expensive rebuilds, and increased insurance premiums; cooking fires are detrimental to your bottom line. Auto-Out® stovetop fire suppressors offer 24/7 automatic protection from cooking fires, the No. 1 cause of residential fires. We are the manufacturer and ship direct, all with no middle man price mark-up. Auto-Out helps keep your units in service, producing income, and limits your loss history for insurance purposes. If you’re not using Auto-Out, you’re playing with fire!

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Bronze Baker Tilly

Michael Ross, Partner 2801 Via Fortuna Suite 300, Austin, TX 78746 512-975-7290; michael.ross@bakertilly.com www.bakertilly.com

Blazer Building Texas, LLC

Jim Wanja Voice: 713-914-9200; Fax: 713-914-9292 Direct: 281-833-1083 jwanja@blazerbuilding.com www.blazerbuilding.com

BNY Mellon Booth 59

Keenan Carstens, CFA, CAIA Business Development, Corporate Trust 713-483-6113 keenan.carstens@bnymellon.com www.bnymellon.com

Baker Tilly is a full-service accounting and advisory firm whose specialized professionals help developers, lenders, and investors succeed through investment in quality affordable housing projects throughout the US. Our team provides the knowledge needed to navigate complex government regulations and capitalize on funding. From conceptualization and transaction structuring to asset disposition and beyond, Baker Tilly delivers innovative ideas, strategies, and solutions that enable clients to move forward with confidence and meet their business objectives.

Blazer Building founded in 1978 as a general construction company focused on delivering high quality 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 40 year history, Blazer Building has overseen the construction of more than 40,000 apartment homes totaling over $2 billion in contract value.

The Bank of New York Mellon Corporation is a premier provider of corporate trust services to the debt capital markets, providing customized and market driven solutions to issuers, borrowers, investors, bondholders and lenders.

The business administers a wide array of programs to the public finance market, including comprehensive trustee, collateral agent, depositary, loan servicing and administrative agent services. To learn more about BNY Mellon Corporate Trust, please visit www.bnymellon.com/corporatetrust.

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Bronze BOK Financial Booth 5

Pamela M Black, CCTS/SVP Regional Corporate Trust Manager Tel: 817-348-5797; Mobile: 817-889-2889 pblack@bokf.com Lisa E Albers, SVP Community Development Tel: 918-588-6420; lalbers@bokf.com www.bokf.com

Bonneville Multifamily Capital Booth 41

BOK Financial is one of the top 25 U.S. based banks. It offers a wide range of services to the affordable housing industry, including successor trustee, bond trustee, custody, paying agent and escrow agent from our Corporate Trust group and an array of debt (construction and permanent) and equity solutions from our Community Development group. BOK Financial offers strength and stability with a personal approach to develop customized client solutions.

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.

Chris Mullen 111 Main St., Suite 1600, Salt Lake City, UT 84111 801-323-1076; cmullen@bmcslc.com www.bmcslc.com

Boston Capital Corporation

Mr. Tom Dixon, Vice President 1 Boston Place, Suite 2100, Boston, MA 02108 310-339-4376; tdixon@bostoncapital.com www.bostoncapital.com

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Boston Capital is a real estate investment and advisory firm with 45 years of experience in equity investments in affordable multifamily housing and market rate communities. Boston Capital’s holdings include 1,405 multifamily properties in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam, constituting 115,500 apartments with a development cost of $20.6 billion. Boston Capital is one of the largest owners/investors of apartment properties in the United States. www.bostoncapital.com

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Bronze Bowen National Research Booth 60

Tracie Bowen, Marketing 155 E. Columbus St., Pickerington, OH 43147 614-833-9300; tracieb@bowennational.com www.bowennational.com

Broaddus Construction Booth 38

David Bowlin, President 1301 S. Capital of Texas Hwy, A-302 Austin, TX 78746 512-289-2929; Bowlin@BroaddusUSA.com www.BroaddusUSA.com

Brown, Graham & Company, P.C. Booth 26

Jessica Chen, Shareholder/Vice President Shannon Andre’, Shareholder/Vice President 13809 Research Blvd, Suite 305 Austin, TX 78750 512-257-8091; jchen@bgc-cpa.com sandre@bgc-cpa.com; www.bgc-cpa.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 (assisted living, nursing care, etc.), GIS services with demographic data customized to your needs, and other types of analysis (retail, commercial, housing needs assessments, and much more).

“We exist to advocate for the Owner and dramatically improve the building process.” Broaddus Construction is part of The Broaddus Companies, a multi-faceted organization ranked nationally by Engineering News Record which has managed over $10 billion dollars in project value over the past decade. Broaddus has successfully built fast-track multi-family projects across Texas with various funding models and delivery methods including HUD 221(d)(4), Public Private Partnerships with Chapter 380 Agreements, Design-Build, and Integrated Project Delivery.

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 Housing Tax Credit industry for over 22 years. Our professionals are well aware of the specialized needs of the low-income housing tax credit and insured programs and are thoroughly versed in what it takes to keep your project running smoothly.

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Bronze Capstone Consulting & Compliance Services Booth 8

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 onsite compliance systems, reduce risk of lost credits and improve the industry reputation of our clients.

D. Michael Boone, Jr., CPM 210 Barton Springs Road, Ste 300, Austin, TX 78704 Tel: 512-646-6700; Direct: 512-492-7022 Fax: 512-646-6798 mike.boone@capstonemanagement.com www.capstonemanagement.com

Carleton Management Services Booth 9

The Carleton Management Services team is dedicated to achieving the financial goals of our owners by efficiently operating and maintaining their assets. We strive to control costs, drive revenue growth, and achieve operating goals while enhancing the lives of the residents we serve and the properties in which we operate. Our team is focused on providing expert property management with integrity and a commitment to service.

3301 Airport Freeway Ste. 210 Bedford TX, 76021 817-532-3155; Carletonms.com

Centrant Community Capital Booth 4

David R. Bennett P.O. Box 19999, Raleigh, NC 27619 984-344-9992; david@centrant.org www.centrant.org

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Centrant Community Capital is a mission-driven lender, leveraging the resources of the banking industry to finance affordable multifamily housing. Established in 1990, we offer first-lien permanent debt that consistently meets the needs of our borrowers, provides a range of benefits to our member banks, and strengthens the communities we serve together. To date, we’ve provided $415 million in loans to support the development of more than 22,000 units in over 400 communities across the Southeast.

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Bronze Churchill Stateside Group, LLC Booth 54

William Rahuba, VP, Southwest Regional Officer 1914 East 6th Street, #6200, Austin, TX 78762 312-498-3648; wrahuba@Csgfirst.com

Churchill Stateside Group and its wholly-owned affiliates (CSG) serve the affordable housing and renewable energy industries. The company’s investor and developer clients benefit from our experienced staff and proactive senior leadership. CSG sponsors tax credit equity investment funds and provides construction and permanent financing solutions.

CSG is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender, Ginnie Mae Issuer and a Bond Underwriter for 4% bond transactions.

Churchill Stateside Group is a Q10 Capital Partner

Clearwater | Atlanta | Austin l Chicago | Los Angeles | Nashville

CSGfirst.com; follow CSG on LinkedIn

Construction EcoServices Booth 53

David Batts, Director 13810 Hollister Drive, #100 Houston, TX 77086 832-456-1000; dbatts@ecosvs.com www.ecosvs.com

Davis-Penn Mortgage Co.

Davis-Penn Mortgage Co. Ray Landry / Kristin Welch 12650 N. Featherwood Dr. Suite 120 Houston, TX 77034 281-481-2400 rayl@davispenn.com; kristinw@davispenn.com www.davispenn.com

Construction EcoServices has been providing stormwater management services to the Texas commercial construction and commercial properties industries since 2002. We offer unmatched experience and the highest level of compliance while reducing risk and lowering costs. We provide a complete range of stormwater products, services and solutions, including turnkey and lifetime compliance assurance services, engineering subconsultancy, erosion control and cutting-edge stormwater management systems, to all segments of the management, development, design and construction markets.

Davis-Penn Mortgage Co. is a full-service FHA Lender, dedicated to providing our clients financing solutions across the country. We offer loan programs for acquisition, refinance, rehabilitation, and construction of affordable housing and market-rate multifamily communities. Our affordable experience includes 4% and 9% tax credits, Section 8, RAD, and LIHTC transactions. As a HUD, MAP originator and GNMA seller/servicer, we offer our clients comprehensive FHA service through origination, application, loan closing, and real estate mortgage servicing.

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Bronze Dominium, Inc.

Jeff Spicer, Vice President and Project Partner 2905 Northwest Boulevard, Suite 150 Plymouth, MN 55441 763-392-9875; jeff.spicer@dominiuminc.com www.dominiumapartments.com

Dwight Capital, LLC

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 33,000 owned and/or managed units at over 200 sites in 22 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 38 wonderful properties in the great state of Texas, all of which have TDHCA affordable programs, representing over 5,700 units and employing over 140 people. For more information, visit www.dominiumapartments.com.

Dwight Capital is a leader in commercial real estate finance and is one of the largest FHA/HUD lenders for multifamily and healthcare properties in the United States. Dwight has led the industry as a top-5 Multifamily & Healthcare HUD lender by both transactions and dollar amount over the past four years. Our range of services include commercial lending across a variety of platforms such as CLO, USDA, Bridge, Mezzanine, and Preferred-Equity for both stabilized and new-construction properties.

Adam Sasouness, CEO 250 W 55th St., 30th Floor, New York, NY 10019 Tel: 212-960-37503; info@dwightcap.com www.dwightcapital.com

Enterprise/Bellwether Enterprise Booth 3

Reagan Maechling, Phil Melton 15660 N. Dallas Parkway, Suite 850 Dallas, TX 75248 469-729-7677 rmaechling@enterprisecommunity.com pmelton@bwecap.com www.EnterpriseCommunity.com www.BellwetherEnterprise.com

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Enterprise/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 long-term conventional and affordable housing products, we are the industry’s most competitive and creative capital provider and servicer. That’s capital on a mission.

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Bronze FDI Property Management Services Inc. Booth 14

Diane Kinney, Principal 26303 Oakridge Drive, Houston, TX 77380 281-367-5222; dkinney@fdimgt.com www.fdimgt.com

Federal Home Loan Bank of Dallas Booth 30

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

Fox Energy Specialists Booth 11

Johnnie Watson, Director of Multifamily Services 3301 West Freeway, Ft. Worth, TX 76107 Direct: 817-546-0160 Ext.141 Mobile: 817-819-2955; Fax: 817-546-0161 jwatson@foxenergyspecialists.com www.FoxEnergySpecialists.com

FDI Management Group is a full service, property management company specializing in affordable housing communities. FDI provides a broad range of services focused on the individual needs of each community and client’s objectives. Our team of experts provide decades of experience in New Construction, Acquisition Rehab, Lease ups, Compliance monitoring, and the Stabilization of assets. FDI provides management services in Texas and Louisiana.

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $69. billion as of March 31, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit fhlb.com.

Fox Energy Specialists, a division of The Nelrod Company, provides energy code and green energy efficiency program consulting, performance testing and field verifications for single- and multifamily projects. Certified team members will support all your energy needs. Services include energy plan review and compliance modeling, IECC inspections, testing, or green programs such as National Green Building Standard (NGBS), ENERGY STAR, Enterprise Green, and the EPA ES Portfolio Manager program for the HUD MIP program.

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Bronze Galaxy Builders, Ltd. Booth 29

Neilesh Verma, President 4729 College Park, San Antonio, TX 78249 210-493-0550; neileshv@galaxybuilders.com www.galaxybuilders.com

Highland Commercial Mortgage Booth 25

For over two decades, Galaxy Builders, Ltd., has built a reputation for excellence, commitment, and trust. Based in San Antonio, Texas, Galaxy is a leading general contractor, specializing in multifamily construction throughout the Southwest. Galaxy’s award-winning management teams have built over 20,000 units representing more than $1 billion worth of projects. From large-scale senior living to affordable housing, Galaxy delivers timely, budget-aware projects. Follow our LinkedIn @ GalaxyBuildersLtd.; Like our Facebook at GalaxyBuildersLtd.

Highland Commercial Mortgage, is an FHA MAP-Approved Lender & Ginnie Mae Issuer providing loan origination, underwriting, and loan servicing for multifamily mortgages, affordable housing developments and senior living facilities across the country. We are Committed to your Vision.

Leigh Anne Rula, Marketing Director 242 Inverness Center Drive, Birmingham, AL 35242 205-250-9010; leighanne@hcmd4.com www.hcmd4.com

Jones Walker, LLP Booth 22

Kelly Rushin Lewis, Partner 420 20th St N, Suite 1100, Birmingham, AL 35203 205-244-5314; krushin@joneswalker.com www.joneswalker.com

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Jones Walker is among the largest 120 law firms in the United States, and is one of the largest law firms in the southeastern United States, serving a full range of local, regional, national, and international business interests with more than 350 attorneys. The firm fosters an environment that allows for efficient problem-solving and value-added counseling, providing clients with timely, useful, and pragmatic legal advice at a fair value.

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Bronze Kinetic Valuation Group, Inc. Booth 45

Jay Wortmann, MAI Certified General Real Estate Appraiser 11060 Oak Street, Ste. 6, Omaha, NE 68144 402-202-0771; jay@kvgteam.com www.kineticvaluationgroup.com

LDG Development, LLC

Jason L. Trevino, Senior Development Coordinator 6300 La Calma Dr., Ste. 520, Austin, TX 78752 512-578-8488; jtrevino@LDGdevelopment.com www.ldgdevelopment.com

National Church Residences Booth 63

Takia Waller, Acquisitions 2245 North Bank Drive, Columbus, OH 43220 210-680-9199 twaller@nationalchurchresidences.org www.nationalchurchresidences.org

Kinetic Valuation Group, Inc (KVG) fka LEA & COMPANY provides Housing Valuation and Consulting Solutions within the Affordable Housing Industry.

Our services include tax credit application market studies and appraisals, lender appraisals, and feasibility consulting. We work extensively with proposed and existing family and senior LIHTC properties, USDA Rural Development, and HUD properties, including Rent Comparability Studies and MAP valuation services. Contact Jay Wortmann at 402-202-0771 or jay@kvgteam.com. We look forward to partnering with you!

LDG Development is one of the country’s largest developers of affordable housing. For over two decades, LDG has created more than 10,000 units for seniors and working families across the country. Founded by Chris Dischinger and Mark Lechner, LDG was built based on the belief that “everyone deserves a quality place to live.” This belief continues to serve as the s guiding philosophy for all of the company’s work and investments.

With 340 communities in 25 states and Puerto Rico, National Church Residences is the nation’s largest not-for-profit provider of affordable senior housing. Operating 30 properties in Texas, the organization is a leading provider of third-party property management services. Our proven management protocol results in cost-effective marketing, superior resident retention, and timely financial reporting. Additionally, National Church Residences is interested in acquiring senior properties for preservation through our $50 million Affordable Housing Investment Fund. For more information, visit www.nationalchurchresidences.org.

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Bronze NRP Construction Booth 10

Chance Louis, Director of Construction Services 200 Concord Drive, Suite 900 San Antonio, TX 78216 210-487-7878; clouis@nrpgroup.com www.nrpconstruction.com

Pavilion Construction, LLC Booth 13

A division of The NRP Group, NRP Construction, is a full-service general contractor specializing in multi-unit housing across the nation. We’re committed to providing high-quality pre-construction and general contracting services while developing trust and building relationships.

With a quarter century of experience in over a dozen states, The NRP Group is able to leverage its unique perspective as one of the industry’s largest multifamily developers to create value for all types of multi-unit residential construction projects, from luxury and market-rate communities, to affordable, public-private partnership, HUD, student or senior housing in both urban and suburban locations. NRP Construction has delivered over 36,000 residential units nationally over the last 25 years, and over 10,000 in Texas over the last five years. While managing over 19,000 units nationally, our experience provides deep institutional knowledge of how properties must be designed and constructed to run efficiently over the long term.

At Pavilion Construction, we understand our growth has been fueled by repeat business with satisfied clients. We have emerged as an industry leader through our focus on the client, establishing reputable contracting services at unparalleled standards. Pavilion Construction’s staff is made up of industry leading individuals who love to build. We are unified and passionate about achieving project goals and exceeding our client’s expectation.

Brian Gerritz, President 2511 Broadbent Pkwy NE, Suite A Albuquerque, NM 87107 Tel: 505-346-0085; Mobile: 503-704-4314 bgerritz@pavilionconstruction.com www.pavilionconstruction.com

Phase Engineering, Inc. Booth 58

Tracy Watson, EP 5524 Cornish Street, Houston, TX 77007 713- 854-8670; tracy@phaseengineering.com www.PhaseEngineering.com

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Phase Engineering, Inc. successfully partners with many TDHCA tax credit applicants to receive NEPA Environmental Clearance for many programs including 221(d)4, HOME, CDBG, RAD, NHTF, and USDA. 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, lead, and mold inspections, property condition assessments, radon surveys, wetland delineations, and related environmental services nationwide.

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Bronze PNC Real Estate

Nora Keane, Assistant Vice President nora.keane@pnc.com www.pnc.com

Prospera Property Management

Jose C. Mascorro Vice President of Property Management 8610 N. New Braunfels Ave. Suite 500 San Antonio, TX 78217-6397 210-821-4300; josem@prosperahcs.org www.prosperahcs.org

Rainbow Housing Assistance Corporation

Flynann Janisse, Executive Director 3120 W Carefree Hwy, Ste 1-246 Phoenix, AZ 85086 602-903-1843; fjanisse@rainbowhousing.org www.rainbowhousing.org

PNC Real Estate is a leading provider of banking, financing and servicing solutions for commercial real estate clients across the country. Our comprehensive array of capabilities includes acquisition, construction and permanent financing for public and private developers and investors; agency financing for multifamily and seniors housing properties; and debt and equity capital for the affordable housing industry. And, through Midland Loan Services, we provide third-party loan servicing, asset management, and technology solutions.

Prospera Property Management has been providing affordable housing management services for 35 years. We support mission-driven Affordable Housing Organizations by providing safe, high quality housing for lowincome families. As an experienced management company with a portfolio of 46 properties, our goal is to maximize revenue and control expenses while remaining compliant with all affordable housing program rules, including, project-based section 8, Section 811, HOME, Tax-Exempt Bonds, and Low-Income Housing Tax Credits with full integration of resident services.

Rainbow “Lifting Lives” is a nonprofit organization that provides serviceenriched housing programs for residents of rental housing communities throughout the country. Offering services, which focus on community and promote the self-sufficiency of the residents, have been proven to increase the financial viability of multifamily assets. Rainbow’s award-winning services are structured in such a way to perform for any population or demographic, preserving quality affordable housing for those who need it most.

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Bronze RED Mortgage Capital Booth 42

Tracy Peters, Head of Affordable Housing Senior Managing Director 10 West Broad Street, 8th Floor Columbus, OH 43215 614-857-1656; twpeters@redcapitalgroup.com www.redcapitalgroup.com

Regions Bank

David Payne, Regions Affordable Housing 214-220-6171; davidn.payne@regions.com Graham Dozier, Real Estate Capital Markets 404-279-7462; graham.dozier@regions.com www.regions.com

Rinnai America Corporation Booth 62

Shawn Curran, Regional Manager 103 International Drive Peachtree City, GA 30269 214-202-8327; scurran@rinnai.us www.rinnai.us

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RED Mortgage Capital is a preferred provider of targeted financial products and services in the multifamily and affordable housing industries and has provided more than $78 billion in integrated debt and equity capital since 1990. RED Mortgage Capital is a division of ORIX Real Estate Capital, LLC, the #1 FHA/HUD MAP and Lean lender by loan count and volume in 2018, a Fannie Mae DUS® lender and Freddie Mac OptigoSM small balance lender.

Regions Bank is committed to strengthening our communities by providing financial solutions to developers of affordable housing properties. Our Regions Affordable Housing and Real Estate Capital Markets groups provide a comprehensive range of products to meet the needs of the affordable housing industry, from LIHTC equity investments to construction and bridge financing, as well as a full array of permanent financing options through Fannie Mae and HUD. Let us show you how Regions can help you move your business forward.

Through nearly 100 years of innovation, we at Rinnai have enhanced the way businesses operate. This commitment has made us the number one selling brand of tankless water heater systems. Rinnai’s Water Heating Solutions are a perfect fit for multi-family property owners looking for significant savings on their energy consumption and costs. Rinnai’s stateof-the-art, energy-efficient technology delivers hot water only when water flow is detected – resulting in an endless supply of hot water.

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Bronze SVN AFFORDABLE | Levental Realty

Gene Levental, Managing Director 525 Vine St. Suite 200. Cincinnati, OH 45202 513-321-7589; gene.levental@svn.com www.svn-ahg.com

The Michaels Organization Booth 6

SVN Affordable | Levental Realty is a nationally recognized leader in the niche market of Affordable Housing brokerage focusing solely on valuing, marketing, and selling Project-Based Section 8 and Section 42 housing through our national platform and proprietary database. Our financial, regulatory and statutory expertise, paired with our strategic alliances with industry professionals, allows us to successfully identify a customized disposition strategy and transaction structure that ensures maximum value and minimal risk for our clients.

Michaels is a national leader in residential real estate offering full-service capabilities in development, property management, construction, and finance. Serving 145,000 residents in more than 400 communities nationwide, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement, and neighborhood prosperity and to creating Communities That Lift Lives.

Ryan Zent, Vice President Development 2 Cooper Street, Camden, NJ 08101 720-845-6500; rzent@tmo.com www.tmo.com

Tiber Hudson, LLC

Kent Neumann, Esq., Founding Member 1900 M Street NW, 4th Floor Washington, DC 20036 202-973-0107; kent@tiberhudson.com www.tiberhudson.com

Tiber Hudson LLC is a boutique law firm with offices in Washington, New York, Baltimore and Charleston. The firm’s practice is focused on commercial litigation and transactions, corporate structure, construction, public and private financing, securities, banking and government contracts, and affordable housing. Ranked No. 1 Underwriter’s Counsel in the U.S. in 2018 for number of Multifamily bond issues by Thomson Reuters, Tiber Hudson is a leader in the affordable housing industry.

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Bronze Wallace Architects, LLC Booth 7

Mike Kleffner, Randy Porter, Ashley McClallen 302 Campusview Dr., Suite 208 Columbia, MO 65201 573-256-7200 www.wallacearchitects.com

Ward, Getz & Associates, LLP Booth 57

Ryan Getz 2500 Tanglewilde, Suite 120, Houston, TX 77063 713-789-1900; rgetz@wga-llp.com www.wga-llp.com

Wilmington Trust N.A. Booth 23

Stephen McPherson 15950 North Dallas Parkway, Suite 550 Dallas TX 75248 972-383-3161; smcpherson@wilmingtontrust.com www.wilmingtontrust.com

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Wallace Architects, LLC is one of the largest and most active firms in the Midwest specializing in affordable housing developments. Wallace Architects has broad experience in the design and construction of residential and multi-family developments – in new construction and the renovation/rehabilitation of existing and historic properties, throughout Texas and multiple surrounding states. Please visit www.wallacearchitects. com to learn more about our work, our process, and our team!

Ward, Getz & Associates, PLLC (WGA) provides civil engineering consulting and design services for single- and 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 enable 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.

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 clients and helping them succeed by efficiently delivering trust, agency, and fiduciary solutions, as well as by helping mitigate risk.

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Supporter Alpha Barnes Real Estate Services, LLC

Alpha Barnes specializes in management and compliance of affordable apartments of all types. We are proud to be ranked 9th nationally, by NAHMA, with 24,000 units. Texas-based, People-Focused, Local Expertise, headquartered in Dallas, regional offices Austin, Houston, and San Antonio, covering over 60 cities across Texas.

Hugh A Cobb, CPM, Managing Principal 12720 Hillcrest, Suite 400, Dallas, TX 75230 Tel: 972-581-0854; Fax: 972-503-7569 hcobb@abres.com; www.abres.com www.abres.com

Anderson Development & Construction, LLC

Terri L. Anderson, President 347 Walnut Grove Lane Coppell, TX 75019 Tel: 972-567-4630; Fax: 972-462-8715

Arx Advantage, LLC

Robbye Meyer 1305 Dusky Thrush Trail, Austin, TX 78746 512-963-2555; robbye@arxadvantage.net www.arxadvantage.com

Anderson Development & Construction, LLC was established as an affiliate to Anderson Capital, LLC in 2011 to facilitate affordable housing development and construction-related activities, having completed 132 units in 2018. Anderson Capital, LLC 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 ration. The professionals of Anderson have over 25 years of experience and serve on several non-profit Boards focused on affordable housing and building sustainable communities.

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.

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Supporter Brinshore Development

Richard Sciortino, Principal 666 Dundee Road, Suite 1102 Northbrook, IL 60062 847-562-9400; richards@brinshore.com www.brinshore.com

Capital Area Housing Finance Corporation

Established in 1994, Brinshore Development, LLC is an innovative real estate company specializing in the development of residential communities that foster conservation, collaboration and affordability.

Brinshore has undertaken dozens of developments, from large-scale master planned communities to the restoration of meticulously preserved historic properties. The Brinshore portfolio today encompasses more than 7,000 residential units valued at more than $1 billion.

Capital Area Housing Finance Corporation was established in 1981 to address workforce housing needs in Central Texas. We provide financing opportunities for home ownership and multi-family rental properties. We also fill the co-developer/owner role where appropriate. We work with developers, finance team members, and local leaders to create quality, sustainable workforce housing throughout our region.

Jim Shaw 4101 Parkstone Heights Drive, Suite 280 Austin, TX 78746 512-347-9953; jeshaw@cahfc.org www.cahfc.org

Choice Property Resources, Inc.

Mike Coco, President 614-568-7301; mike@choicprop.com Cassie McClure, Operations Coordinator 614-568-7313; cassie@choiceprop.com www.choiceprop.com

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Choice Property Resources is a leading advisor to affordable multifamily developers, operators, and owners. With 20-years of experience in the MDU industry, Choice negotiates and manages all aspects of ancillary services contracts for internet, Wi-Fi, cable TV, fiber-optics, and laundry services. Based on the goals of each property, Choice establishes contract terms, service quality, and consideration to erase the disparities between affordable and market-rate properties. Well-negotiated contracts bring deeper value to developers, communities, and residents.

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Supporter CMR Risk & Insurance Services, Inc.

Erik Wenstone, ARM ; 619-297-3160 x27 ewenstone@cmrris.com Robert Salem; 619-297-3160 x59 rsalem@cmrris.com Andy Guzenski; 619-297-3160 x68 aguzenski@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.

110 West A Street, Suite 725 San Diego, CA 92101 www.cmrris.com

CommunityBank of Texas, N.A.

Stephen W. Rose, Executive Vice President 9 Greenway Plaza, Suite 110 Houston, TX 77046 Direct: 713-308-5754, Mobile: 713-294-9620 srose@communitybankoftx.com www.communitybankoftx.com

Cross Accounting Solutions

Robert Buttram, Owner/Managing Member Cross Accounting Solutions, Cross Compliance Solutions Inc, Cross Multi-Family Inc., Cross Forklift Rentals, Inc 10609 Grant Road, Building G Houston, TX 77070 Tel: 832-220-9303; Mobile: 713-449-2421 robert@cas-texas.com; www.cas-texas.com

CommunityBank of Texas is a $3.3 billion community bank based in Houston, Texas with 35 banking locations spread across Houston, Beaumont, and Dallas. Our affordable housing debt platform expands to serve communities statewide from our largest cities to our smallest towns. We take great pride in providing sophisticated financing with the quality service and nimbleness of your local hometown bank.

Cross Accounting Solutions serves the Nationwide Multi-Family new construction industry. CAS provides our service to any HUD job; retail, airport, commercial, or any other federally funded project. We best serve our Multi-Family brothers and sisters. Our expertise is taking this burden away so that you can focus on what you do best. Most builders are not equipped to handle the array of government requirements standing in the way of building apartments.

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Supporter 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

Gill Group

Jana Jones, Director of Marketing 512 N. One Mile Road, Dexter, MO 63841 800-428-3320, jana.jones@gillgroup.com www.gillgroup.com

Greenberg Traurig, LLP

Devin Texeira, Marketing Coordinator 1000 Louisiana Street, Suite 1700 Houston, TX 77002 713-374-3518; texeirad@gtlaw.com www.gtlaw.com

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DMA Development Company, LLC has developed 32 apartment communities totaling nearly 2,700 units, 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 self-manages its portfolio while also providing third-party property management services and development consulting services.

Gill Group’s MAI appraisers, market analysts, architects, and engineers provide appraisals, market studies, CNAs, and ESAs, on everything from single assets to multi-state portfolios for LIHTC, RD, HUD, Fannie, Freddie, RAD, and every other type of funding nationwide. National Title, a subsidiary of Gill Group, provides a full range of title services with our major underwriters: Stewart, Fidelity, and WFG. We have packaged these services for decades to provide affordable housing for those in need.

Greenberg Traurig’s real estate attorneys deliver comprehensive counsel for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. Clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. Its team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.

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Supporter Hilltop Securities, Inc.

Timothy Nelson, Managing Director, Housing Manager 300 West 6th Street, Suite 1940, Austin, TX 78701 512-481-2022; tim.nelson@hilltopsecurities.com www.hilltopsecurities.com

J. Allen Management Co., Inc.

Joshua W. Allen, President 1390 Broadway Beaumont, TX 77701 409-833-8947

KWA Construction, LP

16800 Westgrove Drive, Suite 300 Addison, TX 75001 214-978-0177; info@kwaconstruction.com www.kwaconstruction.com

Hilltop Securities Inc. is a full-service investment banking firm which specializes in providing financial advisory and other services to governmental entities nationwide. For over 70 years, Hilltop Securities Inc. housing professionals have earned a national reputation as trustworthy professionals who are dedicated to unparalleled excellence. In the affordable housing arena, Hilltop Securities Inc. is committed to one mission: provide superior service to housing finance agencies across the State of Texas and across the nation.

JAMC is a fully integrated management firm in business since 1981, specializing in managing troubled multi-family properties. JAMC also provides consulting service to real estate investment owners. JAMC has expertise in making initial assessments and developing comprehensive plans to bring properties in compliance with all housing, building codes, and compliance with all governmental regulations. The staff’s experience includes management of conventional, Section 8, Public Housing, Tax Credit, and commercial properties.

KWA Construction is a Dallas-based construction firm specializing in multifamily developments. Founded in 2004, we strive to set the standard for excellence at the beginning of every project and carry that quality through completion, ensuring all clients receive the greatest value at the right cost on every project. Our portfolio includes a broad range of multifamily projects including traditional apartments, complex urban infill developments, state of the art student housing, and luxury senior living facilities.

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Supporter 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

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

Nixon Peabody, LLP

Monica Hilton Sussman, Partner 799 9th Street, NW, Suite 500 Washington, DC 20001 202-585-8833; msussman@nixonpeabody.com www.nixonpeabody.com

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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.

Mason Joseph Company, Inc. is an FHA MAP lender providing financing for the market rate and affordable housing industries. Based in San Antonio with additional production and underwriting offices in Fort Worth, and Oklahoma City, MJC offers construction, rehabilitation, refinance and acquisition financing for multifamily properties throughout the southwest.

In 2018, MJC was the top producer of FHA insured loans as well as 221(d) (4) new construction loans in Texas.

For over 45 years, NP’s attorneys have been involved in the financing, preservation, and development of affordable housing. With approximately 30 attorneys and affordable housing professionals possessing significant experience working with federal and local governmental agencies, we have one of the largest affordable housing legal teams in the country.

With our robust and extensive network, we help shape housing industry policy to anticipate issues, cut through complex regulations, and keep affordable housing investments moving forward.

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Supporter Pace Realty Corporation

Anita Hord, Senior Vice President 5429 LBJ Frwy, Ste 500, Dallas, TX 75240 972-387-9100 x 249; anita.hord@pacerealty.com www.pacerealty.com

Pedcor Investments, A Limited Liability Company

Phillip J. Stoffregen COO/Executive Vice President 317-587-0343; pjstoffy@pedcor.net www.pedcorcompanies.com

Riverside Capital, LLC

Josh Levy, SVP, Investor Relations 856-452-0227; joshlevy@riverside.capital www.riverside.capital

Stifel, Nicolaus & Company, Incorporated

3630 Peachtree Road NE, Suite 400 Atlanta, GA 30326 404-504-2785; wilsonco@stifel.com www.stifel.com

As an established third-party fee manager, Pace Realty Corporation has been operating, existing and new construction, affordable housing communities for over 30 years, including garden, mid-size, and highrise properties. Fully versed in compliance and financial reporting, Pace has served its third-party clients well. Contact Anita Hord for additional information about services provided.

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, management, financing, construction, architectural, engineering, accounting, IT and legal capabilities. Pedcor has developed/ redeveloped 24,058 units and currently manages 20,034 units including 15,382 LIHTC units. Active in 20 states, Pedcor specializes in large scale 4% tax-exempt bond financing having raised over $1.6 billion in debt and $927 million in LIHTC equity.

Riverside Capital, a joint venture of Berkadia and The Michaels Organization, is a privately held full-service tax credit investment company providing services throughout the entire lifecycle of LIHTC investments. With a national scope, Riverside Capital has guided the financing and syndication of more than 7,700 affordable units throughout the country, representing $1 billion of equity capital. With a strong network of developers and investors, Riverside Capital is committed to providing financial solutions that transform communities.

Stifel has long established itself as a leading underwriter of multifamily housing revenue 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.

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Supporter Texas State Affordable Housing Corporation

David Danenfelzer, Senior Director, Development Finance 2200 E. Martin Luther King Jr. Boulevard Austin, TX 78702 512-477-3562; ddanenfelzer@tsahc.org www.tsahc.org

Volunteers of America

Patrick Sheridan, Executive Vice President, Housing 1660 Duke Street, Alexandria, VA 22314 703-341-5095; psheridan@voa.org www.voa.org

The Texas State Affordable Housing Corporation (TSAHC) is a statewide nonprofit created at the direction of the Texas Legislature. We help developers build and preserve affordable housing by providing financing options such as tax-exempt bonds, lines of credit, and land banking and land trust services. TSAHC also provides property owners and management companies with services such as multifamily asset oversight and compliance reviews and property staff training. Learn more at www.tsahc.org.

Volunteers of America is one of the nation’s largest nonprofit developers and owners of affordable housing. Since 1896, we have supported and empowered America’s most vulnerable groups reaching more than two million people in more than 400 communities. Our diverse housing portfolio of over 500 properties totaling nearly 21,000 units across 42 states and Puerto Rico.

Specialty Conference Bags

Creating Opportunities

BBVA USA

John Chan, Senior Vice President – Community Development Capital 209-235-1179; john.chan@bbva.com www.bbva.com

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BBVA USA Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary, BBVA USA, operates 641 branches, including 329 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 17 in New Mexico. BBVA USA ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). Additional information about BBVA Compass can be found at www. bbvausa.com.

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Specialty Big Bag Giveaway

CHR Partners

Meghan Garza 19141 Stone Oak Pkwy., Ste. 104 San Antonio, TX 78258 210-570-8917; moswald@chrpartners.com www.chrpartners.com

Community Housing Resource Partners is dedicated to developing quality, affordable housing where built-in social services empower lowincome residents to grow and prosper. We partner with experienced residential developers to increase the stock of quality, affordable housing nationwide. Each of our properties is equipped with onsite social services like job readiness programs, financial literacy resources, and homework help — at no additional cost to residents. CHR Partners promotes selfsufficiency, education, health and wellness, and stable communities.

Big Bag Giveaway

Norris George & Ostrow, PLLC

Wade Norris, Managing Member 1627 I St., N.W., Suite 1220, Washington, DC 20006 202-973-0103; wnorris@ngomunis.com www.ngomunis.com

Hotel Key Card

See Listing on Page 123

Norris George & Ostrow PLLC, a Washington, D.C. law firm, specializes in tax-exempt municipal bond finance and other taxable structured debt financings. With over 175 years’ attorney experience in tax-exempt multifamily rental housing bond financings, NGO attorneys played a major role in developing today’s tax exempt loan structures, short-term cash backed tax exempt bonds, the Freddie Mac TEL structure, and the Fannie Mae M.TEBs program, closing over 400 multifamily financings in the last 3 years.

Lanyards

Flash Drives

See Listing on Page 110

See Listing on Page 110

Charging Station

Charging Station

See Listing on Page 109

See Listing on Page 109

Monday, July 22nd Coffee Break

See Listing on Page 111

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Specialty Monday, July 22nd Afternoon Refreshment Break

See Listing on Page 112

Monday, July 22nd Wine Trail

See Listing on Page 108

Monday, July 22nd Wine Trail

See Listing on Page 136

Tuesday, July 23rd Luncheon Keynote

See Listing on Page 109

Monday, July 22nd Opening Keynote

See Listing on Page 130

Monday, July 22nd Wine Trail

See Listing on Page 122

Tuesday, July 23rd TAAHP Membership Meeting

See Listing on Page 108

Tuesday, July 23rd PM Refreshment Break

See Listing on Page 112

Wednesday, July 24th Breakfast / Policy Brunch

SAVE THE DATE! See Listing on Page 108

2020 Texas Housing Conference Fairmont Hotel in Austin, TX

July 20th – 22nd, 2020

146 Te 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

Monday, July 22nd Opening Reception

See Listing on Page 110

Monday, July 22nd Wine Trail

See Listing on Page 117

Tuesday, July 23rd AM Refreshment Break

See Listing on Page 112

Tuesday, July 23rd Conference Reception

See Listing on Page 109

Dauby O’Connor & Zaleski, LLC

AFFORDABLE. ACCOUNTANTS.

Locations Carmel, Indiana Austin, Texas 317.848.5700 info@doz.net

Audit • Tax • Consulting www.doz.net

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tached ad. ,000. I’d . I will have. For 32, 33, or mewhat ever one the other or shots.... otos hotos of itchen).

i n t e a t C r e s t mo n t • H o u s t o n , T e x a s Th e Po

E vEr yonE dEsEr vEs a quality placE to livE .

rder that m looking

For over two decades, LDG Development has focused on providing high quality affordable housing.

The company was founded with the belief that everyone deserves a quality place to live. This has resulted in the development of over 10,000 units of affordable housing for working families and seniors in dozens of communities across the country. Today, as one of the nation’s largest developer’s of affordable housing, we are still guided by this simple philosophy and remain committed to providing quality housing that residents are proud to call home.

he top can ouston

www.ldgdevelopment.com

FROM CONCEPT TO COMPLETION

SOLEA COPPERFIELD HOUSTON, TX

SAGE AT HIGHLAND CREEK CHARLOTTE, NC

THE OASIS HOUSTON, TX

MANSIONS AT McKINNEY McKINNEY, TX

YOUR VISION OUR MISSION Michael Graham, AIA, NCARB, LEED AP graham@elementarchitects.com Office: (713) 874-0775 www.ElementArchitects.com

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Michael Graham is a Registered Architect in Texas, Florida, Colorado, Georgia, Illinois, Louisiana, Minnesota, Nevada, New Jersey and North Carolina

Improving Lives. Building Communities.

8610 N. New Braunfels Ave. Suite 500 San Antonio, TX 78217-6397 (210) 821-4300 www.prosperahcs.org

NOBODY

LIKES

PAPERWORK. Simplify compliance.

Cross Accounting Solutions www.cas-texas.com

Learn More Visit our website at www.cas-texas.com or call (832) 220 - 9303.

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2019-2020

TDHCA Calendar SAVE THE DATES 2019 - 2020 TDHCA Board Meeting Dates

Through Your Vision and Design You… Preserve Texas History, Boost Local Economies and Create Affordable Housing

(Tentative)

Thursday, September 5, 2019 Thursday, October 10, 2019 Thursday, November 7, 2018 Thursday, December 5, 2018 Thursday, January 16, 2020 Thursday, February 20, 2020 Thursday, March 19, 2020 Thursday, April 23, 2020

The Jefferson Davis Hospital in Houston transformed into Elder Street Artist Lofts, offering 27 affordable housing units. Photos courtesy of Artspace.

Thursday, May 21, 2020 Thursday, June 25, 2020 Thursday, July 30, 2020

RE

ITA

PU

BIL

RP

HA

OS

RE TE

Thank you Affordable Housing Developers!

E

Waco High School was converted into the Historic Lofts of Waco High, offering 104 affordable units. Photos courtesy of Texas Collection, Baylor University; and Michael Barera.

REVITALIZE

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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TDHCA

We work with you to take your project from concept to closing.

As an independent lender, we have successfully structured, closed and serviced 9% LIHTC, 4% LIHTC, Year15 re-syndications, RAD and HAP transactions. HUD recently expanded its LIHTC Pilot Program to include new construction and substantial rehabilitation projects. Eligible projects qualify for the NEW Expedited Approval Process, allowing for a HUD Firm Commitment within 30-calendar days of application.

Contact us with any questions or opportunities you'd like us to explore with you. www.davispenn.com │281-481-2400

Ray Landry

Kristin Welch

rayl@davispenn.com

kristinw@davispenn.com

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A full-service affordable and market-rate housing development consulting firm, specializing in both single and multi-family residential development. We offer for-profit and non-profit clients the benefit of our comprehensive experience in entitlement, debt and equity financing, and construction expertise.

Mention this ad to receive a $10,000 fee reduction on your first project with us.

◆ 6700 housing units since 2003 ◆ 5400 affordable units since 2003 ◆ 1196 units in conjunction with housing authorities s ince 2003 ◆ 1160 units with Hurricane CDBG-DR money since 2008 ◆ 1290 mixed finance units with HUD since 2003 ◆ $17.05 million in HOME funds (including Section 108 loan funding) ◆ $76 million in CDBG-Hurricane Recovery Funds, plus GO ZONE HTC; $105 million total (includes Section 108 loan funding) ◆ Total AHP Grant or other funds, including HTF: $8 million ◆ Total HTC Equity 4% and 9%: $350 million allocated from TDHCA, MFA, OHFA and CHFA ◆ $370 million in tax-exempt bonds issued and sold ◆ 3342 total Senior Housing units in Texas since 1997

16800 Dallas Parkway, Ste. 215 Dallas, TX 75248 ◆ 214.608.7201 ◆ SonomaAdvisors.com

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C E RTA I N T Y I S

a partner that knows “good enough” never is.

You know there are no easy answers in commercial real estate.

At Berkadia, we work relentlessly to identify investment assets, secure financing and service your loan for its duration. That tireless approach is designed to remove doubts every step of the way— so you can execute with certainty.

Contact a member of our affordable housing and FHA/HUD team to learn how we can be a partner to your organization.

LLOYD GRIFFIN

FRANK BROWN

CHAD BEDWELL

Managing Director, Affordable Housing

Senior Director, Affordable Housing

Senior Director, HUD/FHA

512.226.8710 lloyd.griffin@berkadia.com

615.377.7676 franklin.brown@berkadia.com

214.360.3874 chad.bedwell@berkadia.com

B E R KADIA .COM a Berkshire Hathaway and Leucadia National company Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. 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: http://www.berkadia.com/legal/licensing.aspx © 2018 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.

MAXIMIZE VALUE

You have a vision. And every decision…every deal… can get you closer.

CohnReznick’s advisory, assurance, and tax professionals serve affordable housing stakeholders with one of the most extensive and experienced industry practices in the United States.

Our partner-led teams help you meet your financial goals while addressing strict tax credit and other compliance requirements throughout your project’s life cycle.

Are you ready to achieve your vision?

Let’s get going.

Visit us at cohnreznick.com/ah