Successful Year 15 Strategies
Speaker Biographies
Brad Elphick, Novogradac & Company LLP (moderator)
Brad Elphick is a partner in the metro Atlanta office of Novogradac & Company LLP. He has extensive experience in the low-income housing (LIHTC), historic (HTC) and new markets tax credit (NMTC) programs. Mr. Elphick specializes in developer consulting with an emphasis in forecasting and partnership taxation. He also works extensively with real estate partnership audits, compliance audits, as well as the structuring of LIHTC and NMTC applications. Mr. Elphick also leads and coordinates the NMTC Working Group, a membership organization that is highly regarded for the work it does addressing technical programmatic issues surrounding the NMTC industry. He is a regular contributor to the Novogradac Journal of Tax Credits’ NMTC content, a frequent speaker at industry events, and serves as chairman of Novogradac & Company’s annual fall New Markets Tax Credit Conference. Mr. Elphick received a bachelor’s degree in business administration with an emphasis in finance from Emory University and a master’s degree in taxation from Georgia State University. He is licensed in Georgia, Puerto Rico and the District of Columbia as a certified public accountant.
Barry J. Palmer, Coats Rose
Barry Palmer is a director in the real estate and affordable housing sections of Coats Rose. His practice concentrates on the development and rehabilitation of affordable housing under various federal and state programs and inner city revitalization projects utilizing tax exempt financing tools. A large portion of Mr. Palmer’s practice includes the representation of housing authorities in the redevelopment of obsolete public housing. He currently represents the housing authorities in the following states: Texas (Beaumont, Brownsville, Dallas, El Paso, Fort Worth and Houston); Nevada (Las Vegas); and Louisiana (New Orleans). In addition, Mr. Palmer serves as developer counsel for numerous for-profit and nonprofit developers under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. He also works extensively on applications for credits and the subsequent closing of tax credit projects throughout Texas and Louisiana.
David Sebastian, Wentwood Capital Advisors
Mr. Sebastian is the president of Wentwood Capital Advisors LP. Mr. Sebastian was previously a member of the senior management team at Capmark Financial Group and was responsible for the affordable housing platform where he has overseen the disposition of approximately 1,000 low-income housing tax credit (LIHTC) properties and more than $2 billion of long-term guarantees on institutional LIHTC funds. Before joining Capmark in late 2005, Mr. Sebastian was the president of PNC Multi-family Capital, where he was responsible for the LIHTC distribution and asset management business. Mr. Sebastian joined the LIHTC syndication firm Columbia housing in 1994 as the chief financial officer and chief operating officer and in 1998 oversaw the sale of Columbia’s platform to PNC Bank. Mr. Sebastian began his career in real estate finance in 1984 and is certified public accountant. Mr. Sebastian was the president of the Affordable Housing Tax Credit Coalition from 2005-2007, has sat on a number of affordable housing related boards and has been a frequent speaker on industry topics. Mr. Sebastian is a graduate of the University of California, Berkeley.
Dana Newman, Pillsbury Winthrop Shaw Pittman LLP
Dana Newman practices in the area of tax, corporate and real estate law and is located in the Los Angeles office. Her practice focuses on advising clients on transactions that have a particular tax focus or tax sensitivity, principally involving corporate and real property transactions that utilize joint venture structures and transactions that involve tax credits or tax-exempt bond financing. Ms. Newman's corporate practice includes representing both large and small corporate clients in connection with joint ventures, mergers and acquisitions, and financing transactions, in addition to more general corporate representation. Ms. Newman's corporate joint venture practice includes representing clients involved with a broad array of industries and activities, including aviation and travel and hospitality. Ms. Newman's real property practice includes extensive representation of investors and developers, including REITs, in structuring and restructuring the ownership and financing of real property projects, including office buildings, housing developments, hotels and shopping centers, through the formation of partnerships, limited liability companies and joint tenancies. Combining tax, joint venture and real estate issues, transactions involving tax credits have been a particular focus of Ms. Newman’s practice. Ms. Newman has extensive experience representing investors and developers involved with low-income housing tax credit (LIHTC) developments and historic tax credit (HTC) projects. Ms. Newman assisted several active corporate investors with establishing their tax credit investment programs, including developing their documentation and investment guidelines. In more recent years, Ms. Newman’s tax credit practice has expanded to include representing investors, developers and lenders involved with new market tax credit (NMTC) projects. Ms. Newman has extensive experience with tax-exempt bond financing transactions. In recent years, her practice has focused on advising nonprofit organizations as borrowers in 501(c)(3) bond transactions, lenders providing credit-enhancement for tax-exempt bonds and tax-exempt bond financing of low-income housing development. Ms. Newman's practice has also included representing a number of nonprofit corporate clients. Ms. Newman frequently provides advice on issues related to U.S. withholding taxes. Throughout her practice, Ms. Newman has been active in providing pro bono assistance to a variety of nonprofit corporations. Her pro bono efforts have included acting as counsel to nonprofit developers of low-income housing, representing newly-formed nonprofits in obtaining tax-exempt status, and representing nonprofits in merging with or acquiring other nonprofit organizations. Ms. Newman has participated as a speaker at a variety of corporate and tax seminars. Recently, Ms. Newman has participated as a speaker at the Supportive Housing Institute sponsored by the Corporation for Supportive Housing, a multifamily finance conference sponsored by HUD, and the USC Ross Program. Ms. Newman has also served as a speaker for the California Continuing Education of the Bar and as speaker for the American Bar Association on LIHTC projects and HTC projects. Ms. Newman has also been a guest lecturer on real estate tax issues at USC's master’s degree program in real estate development.
Tim Flint, Tax Credit Group of Marcus & Millichap
Tim Flint is a director at Tax Credit Group and a member of Marcus & Millichap’s National Multi Housing Group. His primary focuses are transaction execution, business development and client service delivery. Mr. Flint has been an investment associate with TCG since 2007 and has been instrumental in closing more than $5.2 billion in LIHTC real estate. Prior to joining the team, Mr. Flint worked at Fidelity Investments in their mutual fund and equities trading department. He holds a degree in criminal law and business from Weber State University.
Alisa Kennedy, Dentons
Alisa Kennedy is a member of Dentons’ Real Estate Practice and Tax Advantaged Investing Practice. She focuses on real estate and finance transactions with particular emphasis on community development issues, such as affordable housing, public-private partnerships and investments in mixed-use developments. Ms. Kennedy advises clients on a broad range of real estate equity and finance matters, from acquisitions and debt originations to asset management, workouts, restructurings, bankruptcy and litigation. Her clients include borrowers, lenders, housing developers, nonprofit sponsors and investors. Ms. Kennedy has extensive experience in transactional tax, finance and real estate matters, with specific knowledge of low-income housing tax credits (LIHTCs), historic tax credits (HTCs), new market tax credits (NMTCs), tax-exempt bond financing and commercial mortgage-backed securities (CMBS), as well as financing related to government-sponsored enterprises and the U.S. Department of Housing and Urban Development (HUD). She frequently presents to members of the housing tax credit industry on workouts and on distressed and troubled assets. Ms. Kennedy began her career with a focus on tax disputes and tax litigation, representing national clients in all facets of federal and state tax administrative proceedings (audits and appeals), criminal tax investigations and tax litigation before state and federal courts. Before joining Dentons, Ms. Kennedy served as general counsel to the affordable housing division of a real estate finance company and national tax credit syndicator, and as legal counsel to a large tax credit asset management company.