Bond Basics

Attend this session to find out what is new and important for multifamily bond financing. Learn how to build or rehabilitate affordable housing using tax-exempt bonds with other financing options. Hear how the current economic conditions are affecting the bond market.

Moderator:

Lewis Diaz, Peck Shaffer
Lewis Diaz came to Peck Shaffer from the Kentucky Housing Corporation where he served in various capacities during his six year tenure. As the corporation's Chief Counsel, Mr. Diaz advised the Chief Executive Officer, Board of Directors, and senior staff on corporate and government laws, policies and procedures for the "AAA" rated housing finance agency. He managed the corporation in the absence of the Chief Executive Officer and Deputy Chief Executive Officer while also directly leading the Communications and Organizational Planning and Performance teams. During the 2008 regular session, Mr. Diaz worked on legislation to increase the corporation's statutory debt ceiling from $2.5 billion to $5 billion enabling the corporation to continue its single-family mortgage revenue bond programs. As in-house counsel to the issuer, he reviewed and commented on official statements, provided continuous post issuance guidance, and worked with staff in managing the contractual relationship between the corporation and its lending partners. As a member of the corporation's executive management team, Mr. Diaz served on the credit committee and approved funding recommendations for multifamily housing project proposals. He provided counsel in the development of Kentucky's Low-Income Housing Tax Credit Qualified Allocation Plan, Consolidated Plan, and Annual Allocation Plan. Prior to serving as Chief Counsel, Mr. Diaz worked closely with the corporation's multifamily housing programs, including HOME, LIHTC, Risk Sharing and Section 8 Rental Assistance. Being a native of Cuba and having lived in South Florida through his teenage years, Mr. Diaz is fluent in Spanish.

Speakers:

James C. Flinn, RED CAPITAL Markets, Inc.
James C. Flinn joined RED CAPITAL GROUP's predecessor firm, Banc One's Housing and Health Care Group, in August 1998. He is responsible for originating, underwriting and closing tax-exempt and taxable multifamily and senior living bond transactions. He specializes in cash flow analysis, the structuring of tax-exempt bond new construction and refunding issues, and the origination of multifamily mortgage loans utilizing FHA insured mortgages, GNMA MBS, Fannie Mae credit enhancements and bank letters of credit. Since joining the firm, Mr. Flinn has been directly involved in tax-exempt bond and conventional mortgage financing transactions totaling over $500 million. Mr. Flinn earned a Bachelor of Science and a Bachelor of Arts in Finance and Accounting and a Master of Science in Agricultural Economics from The Ohio State University.

David Lakari, Renewal Housing Associates, LLC
David Lakari is President of Renewal Housing Associates, LLC, a Portland, Maine firm, which is a joint venture with Leon N. Weiner & Associates, Inc. of Wilmington, Delaware. Renewal Housing acquires and rehabilitates existing federally assisted multifamily housing to preserve its affordability. Mr. Lakari was Executive Director of the Maine State Housing Authority from 1994 to 1999. A member of the Board of Directors of the National Council of State Housing Agencies from 1995 to 1999, he was presented with its annual Leadership Award for 1999. Prior to government service, Lakari was a real estate owner, developer, manager and consultant. He is currently a trustee of Community Housing of Maine, Inc. and Spring Harbor Hospital, and a volunteer with the Portland Mentoring Alliance. Lakari is a graduate of Goddard College and the University of Maine School of Law.

Tony Love, Forest City Capital Corporation
Tony Love is Vice President of Forest City Capital Corporation and is responsible for processing and originating FHA-insured loans. Forest City Capital Corporation is a HUD MAP approved lender and GNMA issuer/servicer with a servicing portfolio of $150 million. Forest City Capital Corporation is a subsidiary of Cleveland based Forest City Enterprises, Inc., a national developer and operator of apartment communities, retail centers, mixed-use lifestyle centers, land development, biotech/research and development, and military housing. Mr. Love received a Bachelor of Arts in Urban Studies from the College of Wooster in 1986, a Master of Regional Planning from the University of North Carolina at Chapel Hill in 1991, and an Executive Master of Business Administration from the Weatherhead School of Management at Case Western Reserve University in 2004. Prior to joining Forest City, Mr. Love served as a City Planner responsible for comprehensive planning studies, growth management policies and regulations, and served as city liaison to the local planning and zoning commission in St. Augustine, Florida. Mr. Love also served as Housing Development Director and Executive Director for a community-based nonprofit development corporation on Cleveland's Near West Side. Mr. Love's responsibilities included the full spectrum of project planning, finance, construction, and marketing, including environmental remediation. Since joining Forest City Capital Corporation in 1995, Mr. Love has been involved in the financing of over $500 million in commercial real estate. Transactions originated by Mr. Love frequently involve affordable housing projects and the use of FHA-insured first mortgages with additional sources such as tax credit equity and subordinated debt.

 

 

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