Galante Becomes Acting FHA Commissioner
Carol Galante has been named acting Federal Housing Administration commissioner (FHA) and assistant secretary for housing at the Department of Housing and Urban Development (HUD).
She steps into the role after serving as HUD's deputy assistant secretary for multifamily housing since 2009.
Galante takes over as acting FHA commissioner from Robert Ryan, who has moved to senior adviser to HUD Secretary Shaun Donovan. Ryan will lead the interagency housing deputies' team and will develop and represent HUD's views on housing finance issues, including a long-term plan for the government- sponsored enterprises.
Janet Golrick is acting deputy assistant secretary for multifamily.
In addition, HUD Deputy Secretary Ron Sims, the department's No. 2 offi- cial, left the agency to return to his home and family in Seattle at the end of July.
Gerwitz Becomes CCC's West Coast Director
Richard Gerwitz has been appointed West Coast regional director for Citi Community Capital (CCC) by Production Director Steven Fayne.
Gerwitz has more than 30 years of experience in the affordable housing and real estate markets. He started with CCC in the late 1990s, then known as Newman & Associates, and has focused on the financing of affordable multifamily rental housing.
Gerwitz, also leading the CCC team in New York, is based in Los Angeles.
Centerline Names Affordable Housing Leader
Michael Riechman will join Centerline Capital Group as the new head of affordable housing in September.
He will be based in Charlotte, N.C., but will have nationwide responsibility for developing Centerline's affordable housing equity business.
Riechman will lead a national team of 25 specialists working in acquisitions, dispositions, underwriting, and fund originations.
He joins the firm from RBC Capital Markets, where he most recently had been managing director responsible for tax credit investments.
Carr Joins Chase
Alice Carr has been named West Coast regional manager of Chase's Community Development Real Estate Lending group.
Based in Los Angeles, Carr will be responsible for the group's activity in Arizona, California, Idaho, Nevada, Oregon, and Washington.
She will lead a team of 15 individuals that provides construction and permanent debt financing to forprofit and nonprofit developers of affordable housing developments.
Carr was recently Western regional director of Citi Community Capital's community lending division.
At Chase, she succeeds Don Brewer, who is retiring.
NEF Names Midwest VP
National Equity Fund, Inc. (NEF), has named Rachel Rhodes to lead its Midwest affordable housing investments as its new regional vice president.
Rhodes has been with NEF, a national nonprofit low-income housing tax credit (LIHTC) syndicator, since 2007 and has been one of the firm's top acquisitions managers.
Prior to joining NEF, she was a vice president at JPMorgan Chase, where she focused on community development real estate.
Ballard Spahr Elects Partners
Amy M. McClain and Mitzie V.Smith-Mack, who focus their law practices on affordable housing, have been elected partners at Ballard Spahr.
Both are members of the firm's Real Estate Department and Housing Group.
McClain, who is based in Baltimore, represents public housing authorities and affordable housing developers in mixed-finance transactions involving LIHTCs, public housing capital funds, tax-exempt bonds, and other sources.
Smith-Mack, who is based in Washington, D.C., represents housing authorities in HOPE VI and mixedfinance development transactions. She also works with local governments, private companies, and nonprofits on affordable housing issues.
Halliday Joins SAHF
Toby Halliday has joined Stewards of Affordable Housing for the Future (SAHF) as executive vice president for policy and operations.
He previously served as vice president for federal policy at the National Housing Trust, a SAHF member organization.
Prior to that, Halliday was program director for affordable housing preservation at the Local Initiatives Support Corp.