SB: New Funding Sources for LIHTC Properties

New Funding Sources for LIHTC Properties
Speaker Biographies

Christina Apostolidis, Novogradac & Company LLP

Christina Apostolidis is a principal in the Naples, Fla., office of Novogradac & Company LLP, where she focuses on providing audit and tax services to the real estate industry. Since joining the firm in 2007, Ms. Apostolidis has been involved in the accounting, auditing, forecasting and compliance of developments subject to the regulatory requirements of the low-income housing tax credit (LIHTC) and historic tax credit (HTC) programs and tax-exempt bond-financed transactions. She also has worked extensively with equity sponsors specializing in equity fund audit and tax consulting. Before joining the firm, she provided audit and tax services to the real estate industry, which included working with clients involved in real estate partnerships, limited liability companies and joint ventures for residential, retail and hospitality developments. Ms. Apostolidis received a bachelor’s degree in business administration with a major in accounting from Baruch College. She is licensed as a certified public accountant in Ohio and New York.

Patrick Sheridan, Volunteers of America

Patrick Sheridan is an executive vice president for housing with the Volunteers of America, a national, nonprofit, spiritually based organization. Mr. Sheridan is responsible for the overall strategy and administration of senior, multifamily, special needs housing and other real estate projects for the organization’s national portfolio. Previously, Mr. Sheridan held the position of assistant deputy administrator for multifamily housing for the Rural Housing Service (RHS), an agency of the U. S. Department of Agriculture, where he was responsible for the implementation and management of the affordable multifamily housing programs administered by the agency. He has also held the positions of director of housing management with the Maryland Community Development Administration of the Maryland Department of Housing and Community Development, along with private sector positions as director of loan servicing for a national real estate advisory firm, and director of development for a multistate apartment development company. He is a member of the boards of the National Affordable Housing Trust, Stewards for Affordable Housing for the Future, the National Housing Conference, the National Housing and Rehabilitation Association, is an advisory board member to the Valued Advisor Fund, a new markets tax credit fund, and an editorial advisor to Affordable Housing Finance magazine.

Aron Weisner, Enterprise Community Investment Inc.

Aron Weisner is a senior director for Enterprise Community Investment Inc. Mr. Weisner originates investment opportunities and manages key developer relationships in Arkansas, Illinois, Indiana, Kansas, Louisiana, Mississippi, Missouri, Nebraska, the Dakotas, Oklahoma and Texas. Mr. Weisner joined Enterprise in 2004 and was responsible for overseeing Enterprise’s Gulf Opportunity (GO) Zone LIHTC investment in the Gulf Coast from 2006 to 2009, including assisting in the placement of an Enterprise office in the region. He has managed the investment of more than $350 million in low-income housing tax credit (LIHTC) and historic tax credit (HTC) equity in 25 developments. Before this, Mr. Weisner guided the implementation of new equity initiatives and products including Enterprise Green Communities, and coordinated the integration of syndication and asset management operations. Before joining Enterprise, Mr. Weisner served as a senior program officer for the National Federation of Community Development Credit Unions, a CDFI in New York City. During his tenure, he managed the implementation of business and mortgage lending operations, and guided policy for the financial intermediary serving the community development banking industry. Mr. Weisner has a bachelor’s degree in urban policy and political science from Stanford University and a Master of Public Policy in planning and urban development from the Harvard University Kennedy School of Government. 

Steven LeBlanc, Stonehenge Capital Company, LLC

Steven LeBlanc is engaged in Stonehenge's Tax Credit Services business line with a primary focus on the origination, structuring and underwriting of both state and federal historic tax credit (HTC) transactions. Mr. LeBlanc previously worked with Stonehenge’s community development line of business in Columbus, Ohio, where he was responsible for the origination and underwriting of junior capital investments with an emphasis on both state and federal new market tax credit (NMTC) transactions. Before joining Stonehenge, Mr. LeBlanc worked as a senior auditor for Halliburton in Houston, where he was responsible for providing business advisory services to the company’s global management team. Mr. LeBlanc earned his bachelor’s in finance from Louisiana State University.

Thomas Cantwell, Cloudbreak Communities

Thomas R. Cantwell Jr. is president and director of Cantwell-Anderson Inc. (CAI), a real estate development, general contracting and property management company. He is a licensed general contractor and since 1979 has directed the company in the areas of acquisition, finance, renovation, development, construction and management of condominium, apartment and commercial real estate projects, both single-purpose and mixed-use, totaling more than $500 million. CAI acquired, planned, and entitled a 272-lot residential community in Altadena, Calif., at the doorstep of the Angeles National Forest (La Vina). The company is in the planning stage of the last 7-acre parcel of that 240-acre project, which is a sold-out community of $1 million homes. The company developed a variety of apartments, condominiums and commercial projects, both new construction and substantial rehab. Nearly $100 million of the company’s development projects has been for-sale and rental housing targeted to low-income households, mixing below-market financing from various state and local agencies, tax-exempt mortgage bond funds and market-rate commercial loans. Mr. Cantwell helped develop the concept of a joint venture between his company and the United States Veterans Initiative (USVI), whose mission was to provide support services to homeless veterans with the goal of helping each veteran reach his or her highest level of independence. He served as the acting executive director of the Los Angeles Veterans Initiative (subsequently renamed the USVI) for a three-year formative period from October 1993 through September 1996. Today, the annual budget of the Veterans Initiative is well over $20 million, and the organization is the country’s largest homeless veteran service provider. There are now specialized housing developments targeting homeless veterans in the areas of Los Angeles; Compton, Calif. (under construction); Las Vegas; Phoenix; Houston; Honolulu and Prescott, Ariz., providing housing for nearly 3,000 homeless veterans annually. Expansion efforts are underway in Phoenix, Honolulu and Inglewood, Calif.. CAI and its Cloudbreak Development family of companies continue to assemble and develop land for additional permanent housing in several of these locations.
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