Darryl Hicks Author Archives

The federal Historic Tax Credit (HTC) program has seen a few ups and downs the past six years. The Great Recession that began in 2008, followed by the Third Circuit’s decision in Historic Boardwalk Hall LLC v. Commissioner in August 2012, led to a mass exodus of investors and caused major market disruptions.

Few people have achieved the level of success expanding access to affordable housing and homeownership opportunities in the mid-Atlantic region as Chickie Grayson, President and CEO of Enterprise Homes, Inc.

After almost two decades at Bank of America Merrill Lynch, most recently managing tax credit equity investments, David Leopold maintained a passion for multifamily affordable housing but was looking for something new. This past spring he was offered an irresistible opportunity: He joined Freddie Mac, as Vice President of Affordable Housing Production, where he manages all lender relationships, transactions, and deal negotiations for the multifamily affordable housing business.

For many low-income seniors, access to quality, affordable in-home care is a pipe dream. If a tenant qualifies for services under Medicaid it normally means a trip to the nursing home, which nobody wants. In progressive Minnesota, where thinking outside of the box is a way of life, developer Tom Schuett has developed a business model that allows him to provide round-the-clock home healthcare to his tenants while getting reimbursed by the state.

On his first day as Principal Deputy Assistant Secretary for Housing, Edward Golding was asked by the Office of Public Affairs to sit for his official photograph – instead, as a playful joke, he considered sending over a photo of Albert Einstein.
Five weeks later, when I shook Golding’s hand prior to sitting for this interview, I noticed the resemblance right away. And while he may not be a world-famous physicist, Golding is a gifted economist, who has spent the past quarter century working in the mortgage finance industry and advocating for policies that strengthen access to affordable housing.

If Michael Costa hadn’t become a successful real estate developer, he might have played Major League Baseball. Tax Credit Advisor sat down with Costa to discuss his current passions and priorities.

In Geoff’s 26 years, USA Properties has grown from seven employees to 400 and developed, through construction or acquisition and rehabilitation, over 11,000 units of affordable housing for families and seniors throughout California and Nevada. In addition, its subsidiary, USA Multifamily Management, manages its own projects in a portfolio consisting of over 10,600 units—two-thirds of it senior housing. Tax Credit Advisor sat down with Brown to discuss his passions and priorities.