Affordable Housing Finance

THE BUZZ

PEOPLE

AFFORDABLE HOUSING FINANCE • October 2008

BY AFFORDABLE HOUSING FINANCE STAFF

Latimer-Nelligan Joins LIIF

Kimberly Latimer-Nelligan has been hired as the chief operating officer for the Low Income Investment Fund (LIIF). She will lead the nonprofit group's lending and risk-management operations as well as oversee the development of new strategic initiatives and programs.

Latimer-Nelligan worked at Citibank for more than 20 years, most recently serving as the managing director of national lending and investments, overseeing a $3 billion business within the bank's community development department.

LIIF has provided more than $810 million in financing and technical assistance to hundreds of community organizations serving the nation's poorest and hardest-to-reach populations.

It has provided the financing and assistance to create and preserve 55,000 units of affordable housing, 100,000 child-care spaces, 44,000 spaces in schools, and more than 2.5 million square feet in community and commercial space.

Avanath Names COO

Ed Hurley has been hired as chief operating officer of Avanath Capital Partners, a real estate investment firm focused on affordable housing and urban real estate investment.

He will oversee the day-to-day operations of the Irvine, Calif.-based firm, including asset management, finance and accounting, risk management, and corporate administration.

Hurley previously served as a managing director of Wachovia Securities, leading a West Coast expansion of the multifamily lending business.

Raymond James Announces VP

Craig Descalzi has been promoted to vice president, national director of acquisitions, at Raymond James Tax Credit Funds, Inc., a leading low-income housing tax credit (LIHTC) syndicator.

He is responsible for directing overall strategy and implementation of the firm's property acquisition efforts throughout the United States. He will be based in St. Petersburg, Fla.

Descalzi previously worked in project management for Bovis Lend Lease in Washington, D.C.

LISC Names Sustainable Communities VP

Anika Goss-Foster has been named vice president of sustainable communities at the Local Initiatives Support Corp. (LISC).

She will serve as a resource to LISC field offices as they implement the organization's Building Sustainable Communities program, which seeks to transform distressed communities into good places to live and work.

Goss-Foster was most recently head of the Next Detroit Neighborhood Initiative. She is a former director of philanthropic affairs for the city of Detroit and also served as a senior program director at the Detroit LISC program.

Reigns Capital Teams with C&W

Reigns Capital, Ltd., an investment banking firm and a specialist in tax-oriented real estate investments, and Cushman & Wakefield, a commercial real estate services firm, announced a new alliance.

The alliance aims to broaden Cushman & Wakefield's ability to offer expertise to clients in the disposition of LIHTC properties. Reigns gains access to Cushman & Wakefield's national real estate and capital markets platform.

Guardian Appoints Portfolio Manager

Guardian Management, LLC, has hired Shelly Hillman to serve as a portfolio manager specializing in affordable communities. She will oversee 17 properties in Oregon. Prior to joining the Portland, Ore.-based firm, Hillman was asset operations manager for Idaho Housing & Finance Association.

Seedco Financial President Retires

Bill Grinker, president and chairman of Seedco Financial, retired June 30 after more than two decades of service to the group and its parent organization, Seedco.

Seedco Financial is a national nonprofit lender that focuses on community economic development through financial and technical assistance. It is headquartered in New York City.

Andrea Phillips, executive vice president for programs at Seedco, will serve as Seedco Financial's interim president.

Creager Accepts New Post

Kurt Creager has been appointed director of the Stardust Center for Affordable Homes and the Family at Arizona State University in Tempe. Creager has more than 25 years of experience in affordable housing, including serving as CEO of the Vancouver Housing Authority in Vancouver, Wash., and the chief of housing and economic development for King County in Washington. He has been active in Phoenix recently and has run his own consultancy firm.

The Stardust Center has built two demonstration projects. Through research, educational outreach, advocacy, and design innovation, the center supports efforts to improve the growth of quality affordable homes and sustainable communities.