MYLOGO
SB: Developer Syndicator Relationship
The Developer-Syndicator Relationship
Wayne Michael
Director of External Education
Novogradac & Company LLP
Wayne Michael is the director of external education for Novogradac & Company LLP, specializing in simplifying complex industries and programs for audiences of varying levels of experience. Mr. Michael has created, edited or delivered hundreds of presentations for conferences, workshops, webinars and on-site training sessions relating to federal tax credit programs and other accounting concepts. Mr. Michael also hosts Novogradac's YouTube channel, whose videos have been viewed more than 150,000 times by tax credit professionals. Additionally, he is a principal contributor to the "Introduction to Low-Income Housing Tax Credits" booklet that is published by Novogradac. Mr. Michael obtained his degree in accounting from Brigham Young University. He is licensed as a certified public accountant in California, is a designee of the Novogradac Property Compliance Certification as well as a Housing Credit Certified Professional.
Michael Gaber
Chief Operating Officer
WNC & Associates Inc.
Michael J. Gaber is chief operating officer and executive vice president of WNC & Associates Inc. He has been involved in real estate acquisition, valuation and investment activities for more than 26 years and has been with WNC since 1997. Mr. Gaber oversees WNC’s asset management, fund management and syndications departments, which originates, underwrites, structures and asset manages low-income housing tax credit (LIHTC) developments throughout the United States for WNC’s national, regional and proprietary funds. Before joining WNC, he was involved in the valuation and classification of major assets, restructuring of debt and analysis of real estate taxes with a large financial institution. Mr. Gaber is a member of the board of directors of the Affordable Housing Tax Credit Coalition (AHTCC), the board of governors of the California Housing Consortium (CHC) and the National Housing and Rehabilitation Association (NH&RA). Mr. Gaber graduated from California State University, Fullerton, in 1991 with a bachelor’s degree in business administration-finance.
Tom Kostosky
Real Estate Development Manager
San Francisco Housing Development Corporation (SFHDC)
Tom Kostosky has been involved in the world of housing development for more than 20 years. His main area of focus is financing the development of multifamily and senior housing developments, often using the low-income housing tax credit (LIHTC) in conjunction with other funding sources. Mr. Kostosky brings vast multifamily housing development experience to the San Francisco Housing Development Corporation (SFHDC) development team, including developments financed through the United States Department of Agriculture (USDA) 515 program, state housing authority tax exempt bond programs, 9 percent LIHTCs and conventional lending sources. He has developed senior housing, multifamily apartments and townhome developments. Mr. Kostosky has been the lead developer on several developments financed through both 4 percent LIHTC program and the 9 percent LIHTC program. Mr. Kostosky formed The Forest Group in 2004 to develop affordable housing. Previously, Mr. Kostosky was a principal of Oakwood Construction Company based in Okemos, Mich., beginning with Oakwood’s incorporation in 1991. As one of the first developers to make use of the LIHTC program for affordable senior housing, Mr. Kostosky has been involved in site selection, rezoning, site plan approval, mortgage packaging and community relations. His experience and involvement in more than 50 developments across the country in 13 states has made him a valuable team member in facilitating the entire development process, construction, rent-up and ongoing operations. Currently, Mr. Kostosky is involved in the pre-development and construction stages on a series of affordable housing developments in California through his work as real estate development manager with the SFHDC, a nonprofit housing developer and service provider participating with valued for-profit partners in the redevelopment of the Hunters Point Shipyard and Candlestick Point, the former site of Candlestick Park, the former home of the San Francisco Giants and 49ers.
Richard Price
Partner
Nixon Peabody LLP
Richard Price focuses on real estate finance and regulation, affordable and rural housing and community development, government contracts, administrative law and legislation. He assists for-profit and nonprofit businesses and government agencies. Mr. Price is the editor-in-chief of Nixon Peabody’s Affordable Housing and Community Development blog.
Caleb Roope
President and CEO
The Pacific Companies
Caleb Roope is the president and CEO of five interrelated companies in the areas of development, finance, architecture and construction. He has 20 years of professional real estate experience with a concentration in affordable housing development, and over his career has successfully built more than 100 multimillion-dollar apartment communities for low- and moderate-income families and senior citizens. Mr. Roope has extensive experience producing assets that combine the resources and priorities of the public and private sectors such as federal low-income housing tax credit (LIHTC) developments, inclusionary multifamily housing developments and charter schools. Highly skilled in accounting, finance, construction oversight and project management, he is an adept and discerning leader who moves skillfully through financial, political and other challenges. With a strong team of specialists supporting him, Mr. Roope completes approximately 10 multifamily and special-purpose developments each year, always watching the marketplace for emerging and complementary opportunities to innovate, deploy his firm’s special skill set, and produce lasting community assets.
Catherine Talbot
Partner
Candeur Group
Catherine Talbot brings 24 years of low-income housing experience to the Candeur Group. Ms. Talbot began her career at Boston Financial in 1991, where she served as a member of the institutional sales team, as an assistant vice president, vice president and senior vice president in the tax credit acquisitions department. In 1999, Ms. Talbot relocated from the Boston office to San Francisco to establish the company’s presence on the West Coast. Ms. Talbot was directly responsible for building Boston Financial’s presence in the Western markets and has invested more than $750 million of equity in the California markets alone. During her tenure at Boston Financial, Ms. Talbot was selected by a large national bank to act as their syndicator of choice for equity placement in California. In that capacity, Ms. Talbot closed the largest low-income housing tax credit (LIHTC) deal in the history of the state of California as well as a large 80/20 transaction with a nationally recognized development firm. She is well regarded in the debt and equity investment communities as a fair, ethical and honest collaborator. Ms. Talbot is a board member of the Mathari Children’s Fund, a nonprofit organization dedicated to educating children in Kenya; a board member of Project Access, a nonprofit social service provider; and a former board member and Treasurer of the California Council for Affordable Housing. Ms. Talbot is a frequent speaker at state and national affordable housing conferences. She earned a bachelor’s degree in economics at the University of New Hampshire.