Boston Capital Opens in L.A.
Tom Dixon has joined Boston Capital’s originations department as vice president and has opened a Los Angeles office.
He will be responsible for establishing developer relationships. He will work with low-income housing tax credit developers in California, Arizona, New Mexico, and Texas.
Dixon spent 13 years in Boston Capital’s acquisitions department, where he originated and closed approximately $750 million in tax credit transactions in 15 states.
S.F.’s Fortner Resigns
Longtime San Francisco Housing Authority Executive Director Gregg Fortner has resigned.
He had been under increasing pressure from Mayor Gavin Newsom to leave after seven years of service. Fortner said he will work with city officials to ensure a smooth transition during the next three months. His last day with the agency is Jan. 4, 2008.
Fortner helped lead the redevelopment of two celebrated public housing complexes, North Beach Place and Valencia Gardens. However, he was criticized for the poor condition of other public housing developments.
Adding to Fortner’s stress was the challenge of redeveloping the deteriorating public housing without federal HOPE VI funds, as well as $15 million in court judgments against the housing authority related to a 1997 fatal fire and two sexual harassment cases. Fortner contended that he could not pay the judgments without approval from the Department of Housing and Urban Development (HUD), which funds the agency. A HUD official told the San Francisco Chronicle last year that federal funds can’t be used to pay the money owed.
Reznick Boosts Southeast Presence
Reznick Group, P.C., a national accounting and business advisory services firm, will strengthen its Southeast presence with the acquisition of Tidwell DeWitt, LLC. The deal is expected to close around October.
The move will expand Reznick’s Atlanta office and establish a new Alabama office. Approximately 50 new professionals, including seven Tidwell DeWitt principals, will join Reznick Group, which will have 10 offices nationwide and approximately 1,450 professionals.
Tidwell DeWitt CEO J. Barry Tidwell will serve as office managing principal for the Birmingham, Ala., office.
Tingerthal Joins Housing Partnership Network
Mary Tingerthal has joined the Housing Partnership Network as president of Capital Market Cos.
She will coordinate the work of the five finance companies in operation or development by the network. This includes the Housing Partnership Fund, which provides acquisition and predevelopment financing; Housing Partnership Ventures, which serves as the network’s investment vehicle; and Housing Partnership Securities, a tax-exempt bond conduit for rental production.
Tingerthal was senior vice president for capital markets at the Community Reinvestment Fund, which provides a national secondary market for community development loans. She will be based in St. Paul, Minn.
Citizens Housing Appoints COO
Citizens Housing Corp., a San Francisco-based nonprofit affordable housing developer, has named Noreen Beiro as its chief operating officer.
Beiro, who served as senior vice president at PNC MultiFamily Capital, has more than 20 years of experience in real estate finance. She will oversee Citizens’ finance, property management, asset management, and administrative functions. The organization’s portfolio includes more than 3,000 units.
APAH Names Director
Arlington Partnership for Affordable Housing (APAH), a leading nonprofit affordable housing developer in Arlington, Va., has appointed James A. Pritchett to be director of real estate development.
Pritchett has more than 25 years of experience in nonprofit housing development, including 16 years with The Arc of North Carolina. Prior to joining APAH, he was vice president of housing development at Community Housing Partners Corp. in Richmond, Va.
Enterprise Names NY Leader
Abby Jo Sigal, who has been vice president of Enterprise Community Investment, Inc., is the new director of Enterprise’s New York office.
She replaces Jim Himes, who will remain at Enterprise to support a new national innovations initiative that will focus on creating programs and conducting product research and development.
Himes is transitioning out of his role as the New York director to run for the U.S. Congress in Connecticut.