MYLOGO
SB: Private Activity Bonds 1
Deep Dive: Private Activity Bonds and 4% LIHTCs Part I & II
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.
Anthony Cinquini
Managing Director/Head of Affordable Housing
Berkadia
Anthony Cinquini joined Berkadia in 2014 and is a managing director and head of the affordable housing group. Mr. Cinquini has more than 32 years of multifamily mortgage and investment banking experience, focused primarily on affordable housing. Throughout his career, he has originated, structured and closed more than $13 billion in debt transactions, including taxable and tax-exempt financings, FHA transactions, and many large Fannie Mae and Freddie Mac credit facilities. Notable accomplishments include the largest FHA 221(d)(4) loan completed ($193 million); structuring a $1.3 billion single-credit facility with Fannie Mae; in 2014, a $1.4 billion single-credit facility with Freddie Mac; and, in 2015, a $5.1 billion single-credit facility, also with Freddie Mac, the largest single loan for Freddie Mac. Also in 2015, Mr. Cinquini originated, structured and closed the first Freddie Mac financing to serve the needs of the developmentally disabled group home market. Mr. Cinquini maintains ongoing advisory, lending and investment banking relationships with many large national REITs, as well as other national multifamily owners and operators. He began his career in the public finance department of First Interstate Bank as a senior analyst, structuring various types of public finance debt, with an emphasis on multifamily housing bonds. Mr. Cinquini also spent more than 20 years with Red Capital as an investment banker and mortgage banker in the taxable and tax exempt financing market, before joining Berkadia.
Bruce Gerhart
Regional Director
Love Funding
Bruce Gerhart opened Love Funding’s Cleveland office in 2001 as a commercial loan originator. In 2007, he was promoted to regional director. In this capacity, he oversees and originates multifamily, affordable and health care loans as well as the overall business development and support for Love Funding’s operations in the upper Midwest. He has more than 35 years of experience in the real estate and banking industry. Mr. Gerhart is charged with building upon the firm’s success in the Midwest, thus far achieved through a commitment to creative solutions, excellent service and a comprehensive understanding of the upper-Midwest markets. Mr. Gerhart focuses on maintaining relationships, expanding coverage of other segments of real estate finance and offering additional products to enable more tailored financing solutions for the firm’s clients. Some of those additional products have included low-income housing tax credits (LIHTCs), historic tax credits (HTCs), state and local funding and numerous tax abatements and subsidies. Before joining Love Funding, Mr. Gerhart served as Midwest regional director of Capital Markets Finance for GE Capital Real Estate in Chicago and as senior vice president for Provident Bank in Cleveland. Earlier in his career, Mr. Gerhart served the city of Joliet, Ill., in economic and community development. He later worked in affordable housing development for Burnham Development of Chicago and served as president of Burnham Securities.
Jeree Glasser-Hedrick
Executive Director
California Debt Limit Allocation Committee (CDLAC)
Jeree Glasser-Hedrick is the executive director of the California Debt Limit Allocation Committee (CDLAC). CDLAC annually allocates more than $3.8 billion in tax-exempt bond authority to private developments that provide a defined public benefit in communities throughout the state: primarily affordable housing development, industrial development for small businesses, first-time homebuyer assistance and water, waste and recycling facilities. In addition to managing CDLAC, Mississippi Hedrick provides policy and financial expertise to communities, elected officials and other stakeholders in the continuing improvement of the California economy. Ms. Glasser-Hedrick, who was most recently the principal of JLG Consulting, has more than 14 years of experience in community development and housing finance, working for various public and private sector entities including the U.S. Department of Housing and Urban Development (HUD), USA Property Fund and the Sacramento Housing and Redevelopment Agency (SHRA). Ms. Glasser-Hedrick received her bachelor’s degree in economics from Santa Clara University and her master’s degree in urban planning from the University of California, Los Angeles.
Kenji Tamaoki
Director
Prudential Mortgage Capital Company
Kenji Tamaoki is a principal with Prudential Mortgage Capital Company. He is responsible for direct loan originations and specialized product support in the Western United States. Mr. Tamaoki specializes in Prudential’s affordable housing loan programs. He is located in San Francisco. Before joining Prudential, Mr. Tamaoki was a vice president at the Bank of America Community Development Bank, where he created and managed a construction-rolling-to-permanent private-placement tax-exempt bond program. Before that, he developed affordable and market-rate multifamily apartment properties in Los Angeles, California and Vancouver, British Columbia. He has also worked as an architect on multifamily apartment, retail and single-family home developments. Mr. Tamaoki received a bachelor’s degree in architecture from the University of Toronto and a master’s degree from the University of British Columbia.
Thomas K. Vandiver
Partner
Dentons
Thomas Vandiver practices in various area of finance including public and municipal finance, banking, affordable housing, real estate law and corporate finance transactions. Mr. Vandiver is the head of Dentons' legacy U.S. public finance practice and has more than 34 years of experience structuring and implementing tax-exempt bond and other finance transactions. He has also structured project financings involving renewable energy tax credits, including photovoltaic/solar energy projects in which municipalities and school districts were the energy off-takers. In the public finance area, Mr. Vandiver has served as bond counsel, underwriter's counsel, counsel to financial institutions as private placement investors and lenders, issuer's and borrower's counsel and counsel to credit enhancers and trustees in hundreds of financing transactions involving billions of dollars of tax-exempt and taxable bonds, notes and other obligations, as well as other conventional financings. Mr. Vandiver also regularly counsels clients in connection with complex derivative transactions. These matters have provided financings for several hundred affordable housing developments throughout the country, for state and local governments, health care systems, senior living and retirement facilities, colleges, universities and private secondary schools, cultural institutions, manufacturing facilities, sports facilities, hotels and many other facilities, including for tribal borrowers. Mr. Vandiver is one of the leading lawyers in California for affordable housing transactions. In this area, he represents many of the major banks and financial institutions that provide financing and tax credit equity financing for these projects, having led his team through more than a hundred such projects in just the past three years. In addition, Mr. Vandiver regularly represents tax credit investors in low-income housing tax credit (LIHTC) transactions and new markets tax credit (NMTC) transactions. He has worked extensively on restructuring troubled financings, including restructuring of tax-exempt bonds. This experience has included a successful major restructuring of the financing and derivative contracts for a medical school and a university covering allied health services and nursing in South Central Los Angeles. Mr. Vandiver also led a team that had responsibility for the $2 billion in bonds at airports around the U.S. for United Airlines when Dentons represented the creditor's committee in that bankruptcy.
Paul J. Weissman
Senior Managing Director
Hunt Mortgage Group
Paul J. Weissman is senior managing director and head of originations for affordable housing finance at Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies. Mr. Weissman has nearly 20 years of experience in multifamily housing. His experience includes development, tax credit syndication, lending and investment banking. He has financed more than $1 billion of affordable and market-rate multifamily transactions in his career, including transactions involving nearly every form of assistance available to affordable housing developments. Mr. Weissman has experience with tax-exempt bond financing, Section 8 subsidies, Section 202 and Section 236 subsidies, low-income housing tax credits (LIHTCs), HOPE VI, the FHA tax credit pilot program and many others on affordable communities, stretching from Connecticut to Hawaii. Before joining Hunt Mortgage Group, Mr. Weissman was a senior vice president at Dougherty & Company, a director with Credit-Suisse and a vice president at Newman Capital, where he was responsible for the purchase of unrated tax-exempt bonds in highly structured transactions to facilitate the new construction as well as acquisition and rehabilitation of LIHTC properties. Mr. Weissman began his career in affordable housing as associate general counsel for Simpson Housing Limited Partnership. Mr. Weissman holds a master’s degree from the Leeds School of Business and a juris doctor from the University Of Colorado School Of Law.