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Keynote Fireside Chat

Jack Manning
Keynote

Jack Manning

President & CEO

Boston Capital

David Gasson
Moderator

David Gasson

Partner

MG Housing Strategies

Jack Manning

President & CEO

Boston Capital

Mr. Manning is one of the two original founders of Boston Capital Corporation, which was formed in 1974. From its beginning, Boston Capital’s goal was to focus on providing equity investment capital for the development of apartment properties throughout the country. Under Mr. Manning’s leadership as CEO for the past 43 years, Boston Capital has grown into one of the largest owners/investors in apartment properties in the United States. Through a number of affiliated partnerships, Boston Capital’s present portfolio is comprised of approximately 1,855 properties with an original development cost in excess of $18.7 billion. These properties are located in 49 states, the Virgin Islands and Guam, both of which are U.S. territories.

As CEO of Boston Capital, Mr. Manning continues to oversee the company’s business development goals. Capitalizing on its core competencies of tax credit investment underwriting, those business development goals include an expansion of investment capital for market rate real estate investment as well as providing mortgage financing for a limited and exclusive number of property acquisitions.

Mr. Manning is a recognized leader in the housing and real estate industries, and has served on the boards of a number of national housing organizations and governmental commissions. In 1997, President Clinton appointed Mr. Manning to the President’s Export Council, a board comprised primarily of Fortune 500 CEOs that advised the President on government policies and programs that affect U.S. trade performance. He was also a Presidential appointee to the President’s Advisory Committee on the Arts. Mr. Manning serves on the boards of numerous organizations and charities including The Alliance for Business Leadership, the American Ireland Fund and the John F. Kennedy Presidential Library Foundation, where he is Chairman of the Distinguished Visitors Program. Mr. Manning is also a member of the Board of Directors of Liberty Mutual Group, the parent company of Liberty Mutual Insurance Company, and sits on Liberty Mutual’s investment and compensation committees.

Mr. Manning is a graduate of Boston College.

David Gasson

Moderator

MG Housing Strategies

After working in Washington, DC for almost 10 years in a variety of capacities for

Representative Richard Gephardt (D-MO), Senate Majority Leader George Mitchell (D-

ME) and the Democratic Party, David Gasson joined Boston Capital in 1995 as Vice

President and Director. Joining with industry pioneers Herb Collins and Jack Manning,

and utilizing his years of experience on Capitol Hill, David quickly became a leading

voice on policy and advocacy with decision makers in the Nation's Capital.

David's responsibilities included representing Boston Capital's housing and tax agenda

before the administration and Congress in Washington, DC, regularly meeting with

administration officials, legislative leaders and senior legislative staff. He also briefed

investor and developer partners on the legislative and political landscape.

Since 1995, David has served as the Executive Director of the Housing Advisory Group.

A 501 c 6 organization founded in 1993, the Housing Advisory Group educates state and

federal officials on housing programs and formulates policies leading to the expansion

of affordable housing production. The Housing Advisory Group's membership consists

of developers and professionals from across the country involved in the affordable

housing industry. David is an original member of the Affordable Housing ACTION

Campaign, where he sits on the steering committee. He also serves on the

policy/legislative subcommittee and the tax reform working group. David is a member

of the Affordable Housing Tax Credit Coalition (AHTCC) and the National Leased

Housing Association (NLHA). He also serves as an advisor to the Council of

Independent State Housing Associations (CISHA) on policy and national advocacy.

On behalf of his many affiliations, David regularly consults with Members of Congress

and congressional staff on policies affecting affordable housing. He is a sought-after

speaker at national conferences, industry gatherings, state association meetings and

with investor groups across the country.

On the home front in Boston, David serves on the Board of Directors of the John F.

Kennedy Library Foundation, the Community Advisory Board of WBUR, Boston's NPR

news station and as Chairman of the Board of Directors for the Alliance for Business

Leadership.

Buying/Developing Affordable Assets and How to Make them Work

Rodger Brown

Rodger Brown

Managing Director, Real Estate Development

Preservation of Affordable Housing

Anthony Fracasso

Anthony Fracasso

Senior Vice President

MassDevelopment

Andy Waxman

Andy Waxman

VP of Development - New England

The Community Builders

Mike Fish

Mike Fish

President & CEO

Dellbrook JKS

Fernando Domenech

Fernando Domenech

President

DHK Architects

Sara Barcan
Moderator

Sara Barcan

Director of Housing Development

CEDAC

Rodger Brown

Managing Director, Real Estate Development

Preservation of Affordable Housing

Rodger Brown, Managing Director for Real Estate Development, holds 30 years of experience producing affordable housing and has been a part of the POAH organization since 2004. During his tenure at the organization he has participated in the growth of POAH’s portfolio to 9,000 units.

He is responsible for overseeing the activities of all real estate development staff, managing resource allocation, department budgets, establishing strategic initiatives and providing direction on the most complex real estate transactions including active neighborhood transformation initiatives in Boston, Chicago and Washington, D.C. creating and preserving over 2500 of affordable housing. He directed the award winning, $42 million transformation of the United Front Homes into the Temple Landing neighborhood in downtown New Bedford. This innovative project involved the complete reconstruction of 5 new city blocks and public infrastructure while incorporating substantial rehabilitation and new construction of 173 units of affordable housing and a community center into a new neighborhood.

He also led the team responsible for structuring and executing one of the largest single transactions in the history of MassHousing, the acquisition and rehabilitation of the 841 Boston/Cape Cod/Hudson portfolio. This $290 million transaction involved 6 properties, financed utilizing privately placed tax exempt bonds, 4% low income housing tax credits and Massachusetts State Low Income Housing tax credits.

Brown has also directed POAH projects in several new geographies, including Washington, D.C., Maryland, Illinois and most notably Florida where he coordinated the acquisition and rehabilitation of a troubled 825 unit, 5 property portfolio and is working with local officials to develop public policies which promote the preservation of affordable housing.

Prior to joining POAH, Mr. Brown operated a real estate consultancy providing project structuring and development consulting services to a range of for-profit, non-profit and governmental entities.

Rodger is active in the Urban Land Institute Affordable and Workforce Housing Product Council, the National Housing & Rehabilitation Association, he is a trustee of the Boston Architectural College and a member of the Zoning Board of Appeal in Sherborn, Massachusetts. He is a graduate of Boston College and held a two year HUD fellowship at the Massachusetts Institute of Technology Department of Urban Planning.

Anthony Fracasso

Senior Vice President

MassDevelopment

Tony Fracasso joined MassDevelopment in 1996. He is responsible for managing the Agency’s Housing Finance program that provides construction and permanent financing through tax-exempt and taxable bond issues, as well as low income housing tax credits. Mr. Fracasso was previously manager of the Agency’s Investment Banking Department. He has experience issuing bonds for a wide range of housing projects, non-profit sponsored projects, manufacturing facilities, long term care facilities and environmental projects. Mr. Fracasso has 34 years experience in the field of commercial finance, spending 13 years of his career as a commercial lender with various banks in New England. Mr. Fracasso received a BA in Business Administration from Saint Michael’s College and a Master of Science in Financial Management from Fairfield University.

Andy Waxman

VP of Development - New England

The Community Builders

Andy Waxman serves as the regional vice president of development, where he directs real estate development activities in New England for The Community Builders, Inc. He joined TCB in 2018. Waxman has been in the community development field for over 25 years.

Prior to working at TCB, Waxman was the director of real estate at the Dorchester Bay Economic Development Corporation (DBEDC) for seven years. At DBEDC, Waxman oversaw a team which developed hundreds of units of affordable and mixed income housing, as well as community oriented commercial space. During this time, Waxman led DBEDC’s successful Choice Neighborhood funded Quincy Heights and Pearl Food Production Center developments. The Pearl project resulted in the creation of over 150 jobs, more than half of which have been filled by local residents. These projects were also recognized for their outstanding performance on employing local and minority residents, as well as contracting to minority and women owned businesses.

Waxman also worked for eight years at the Jamaica Plain Neighborhood Development Corporation (JPNDC), first focusing exclusively on commercial redevelopment efforts, and later as the associate director of real estate. Waxman was the project manager for the award-winning redevelopment of the Brewery Small Business Complex, a 160,000 square foot neighborhood center that is home to over 50 small businesses and employs more than 500 individuals. Additionally, Waxman worked at the City of Boston’s Department of Neighborhood Development, and at a small CDC in Washington DC called Washington Innercity Self Help. (WISH). He has served on the boards of JPNDC and Hyde Jackson Square Main Streets.

Waxman holds a master’s degree in city planning from the Massachusetts Institute of Technology, where he won the Outstanding Thesis Award for his work on urban commercial district revitalization in Dorchester, Massachusetts. Waxman also earned a certificate in Non-Profit Management and Leadership from Boston College, and a bachelor’s degree from Oberlin.

Mike Fish

President & CEO

Dellbrook JKS

Mike is responsible for defining the company’s mission, providing strategic direction, leading initiatives to identify new opportunities, and continuing to emphasize the key to Dellbrook | JKS's success – teamwork.

Under his leadership, Dellbrook | JKS has grown into one of the largest building contractors in New England with expertise in healthcare, hospitality, multi-family housing, private education, historic renovation, and senior & assisted living construction.

in 2005 Mike co-founded the company with his father, the late Edward A. Fish. The elder Fish was a Boston builder and philanthropist who developed more than $1 billion worth of real estate over five decades in New England and Florida.

Dellbrook | JKS has won numerous awards under Mike’s leadership, including an award for the company’s work in historic preservation from Preservation Massachusetts, the statewide non-profit dedicated to preserving the historic and cultural heritage of the Commonwealth.

Dellbrook | JKS has been recognized year-after-year as one of the top philanthropic companies in the region by the Boston Business Journal and the BBJ named Mike to their 2010 list of "Forty Under Forty", the top business leaders under forty years in Boston.

In 2016, over 200 members of the legal, nonprofit and business communities gathered to support Mike for his generosity and contributions to the affordable housing community by presenting him with the Lawyers Clearinghouse Leadership Award.

Mike is a board member of the Children's Advocacy Center of Suffolk County, a member of the board at Habitat for Humanity of Greater Boston, and was previously a director of the Massachusetts Chapter of Associated Builders and Contractors (ABC). Mike is a member of the YPO Organization., which is a global community of top leaders committed to the shared mission of becoming better leaders through learning and idea exchanges.

Dellbrook | JKS was ranked by the ENR as one of the Top 400 Contractors in the Country in 2015, 2016, 2017 and 2018.

Fernando Domenech

President

DHK Architects

Fernando Domenech, President of Boston-based DHK Architects, Inc., is a highly regarded

leader in the field of affordable housing. His projects have been broadly recognized with

awards for their numerous contributions to the revitalization of inner-city neighborhoods as

well as their creative planning, imaginative urban design and excellence in architecture. The

extensive range of public and private housing developments he has designed over the past

decades are located throughout the Northeast and Puerto Rico. Actively involved in the Boston

community, Fernando has served on numerous boards and commissions -- most recently

including the Steering Committee comprised of real estate and civic leaders appointed by

Boston Mayor Michelle Wu, advising on reforms to Article 80 of the Boston Zoning Code.

Sara Barcan

Moderator

CEDAC

Sara Barcan is the Director of Housing Development for CEDAC. She oversees CEDAC’s predevelopment and acquisition lending programs, which provide early-stage financing to non-profit affordable housing developers throughout Massachusetts. Sara also manages CEDAC’s deferred payment lending programs for developers of supportive housing. Sara has expanded training opportunities for community development professionals in Massachusetts both at CEDAC and as a member of the Steering Committee of the Mel King Institute for Community Building, and has spoken on supportive housing both nationally and locally. Prior to CEDAC, Sara developed both affordable housing and commercial real estate at several non-profit agencies. Sara holds a bachelor’s degree in American History and Literature from Harvard University, and a Master in City Planning from MIT’s Department of Urban Studies and Planning.

Financing, Regulations & Solutions for Tomorrow

Dara Kovel

Dara Kovel

CEO

Beacon Communities

Joseph Larkin

Joseph Larkin

Principal

MP Boston

Megan Mulcahy

Megan Mulcahy

Chief Credit Officer

Massachusetts Housing Partnership

Gemma Geldmacher

Gemma Geldmacher

Senior Director, Mortgage Banking

Berkadia

Richard Muraida

Richard Muraida

SVP, Director of Commercial Real Estate Lending

Rockland Trust Bank

Nathan Bernard
Moderator

Nathan Bernard

Partner

Nixon Peabody

Dara Kovel

CEO

Beacon Communities

Dara Kovel is the Chief Executive Officer of Beacon Communities LLC, a privately owned real estate firm that develops, acquires, invests in, and manages a wide range of multi-family housing with properties throughout New England, New York, and the Mid-Atlantic. The company currently owns over 135 communities with approximately 20,000 homes, including a variety of affordable, mixed income and mixed-use projects. Beacon has nearly 50 years of history creating and maintaining award-winning residential communities that serve a diverse cross-section of society that make enduring contributions to the vitality of the cities and towns where they are located.

Dara began at Beacon in 2015 as President of Beacon Communities Development LLC, overseeing all development activities for Beacon Communities. Dara has been actively involved in the development of affordable housing her whole career. Prior to her joining Beacon, she was Vice President and Chief Housing Officer at the Connecticut Housing Finance Authority (CHFA) where she oversaw all multifamily lending and tax credit allocation activities, as well as the homeownership programs.

Before working at CHFA, Dara ran the New England office of Jonathan Rose Companies, a New York-based, green, real estate development and investment company. Her previous work was with Mercy Housing California, where she ran the Southern California office and developed affordable housing throughout the state of California.

Dara currently serves on the Urban Land Institute’s Terwilliger Center’s Workforce Housing Board and Boston Advisory Council, the CEDAC Preservation Advisory Committee and the Board of Dwight Hall at Yale. She holds a BA and MBA from Yale University.

Joseph Larkin

Principal

MP Boston

Joseph “Joe” A. Larkin directs the development activities of MP Boston, including all permitting, planning, commercial leasing, asset management, programming, and more. For the last 20 years Joe has worked in a changing Boston and seen what makes this city great, and now has a unique perspective on urban development and a vision for the heights to which Boston can rise in the future.

Joe has been closely involved in the development and management aspects of large-scale urban properties in Boston including 10 St. James Avenue in Boston’s Back Bay office complex, The Ritz-Carlton Hotel and Towers, One Charles Condominium, the redevelopment of 179 Lincoln Street, Millennium Place, the successful redevelopment of the landmark 1912 Burnham Building and the adjacent Millennium Tower Boston in Downtown Boston.

Joe now oversees the development of Winthrop Center, located in the heart of Downtown Boston. .Set to be completed in spring 2022, Winthrop Center will feature innovative office work space, residential units, retail, dining, and commercial space, along with a curated public gathering space. The $1.35 billion-dollar development is the largest private investment for a single project in Boston and will create a compelling presence on both the skyline and at the pedestrian level. As a result of Winthrop Center’s development, a wide array of neighborhoods and communities in Boston will receive monetary contributions from the City of Boston including Boston Common, Franklin Park, South Boston’s Old Colony public housing complex, Emerald Necklace, and East Boston’s Orient Heights public housing complex.

Prior to joining MP Boston, Joe was the District Manager for Westinghouse Credit Corporation Real Estate Investment Unit. He is a graduate of the University of Massachusetts at Amherst and Boston University.

Megan Mulcahy

Chief Credit Officer

Massachusetts Housing Partnership

Megan Mulcahy joined MHP's Lending Team in June of 2000, and is responsible for ensuring the credit quality of all loans originated by MHP, managing MHP's capital sources, and maintaining MHP's loan policies and procedures. She has extensive experience with both non-profit community based housing developers, as well as large for-profit national housing developers. She has experience working with various projects and housing types including 40B permitted housing, taxable debt, tax-exempt bond financing, Low Income Housing Tax Credit supported projects, working capital credit lines, and mixed-use developments.

Mulcahy is also responsible for the day to day coordination of MHP's Home Funders loan program with the Home Funders Collaborative. She came to MHP after graduate studies at the LBJ School of Public Affairs at the University of Texas at Austin. Prior to that, she was the project manager for Buchanan & Associates, an environmental and land use law firm located in Boston. She earned her undergraduate degree at Mount Holyoke College in South Hadley, Massachusetts, and is a member of New England Women in Real Estate (NEWIRE) where she participates in the Housing & Community Development working group.

Gemma Geldmacher

Senior Director, Mortgage Banking

Berkadia

Gemma Sanders Geldmacher is a Senior Director and loan originator specializing in multifamily debt financing, with a specialty focus on affordable and HUD/FHA transactions. Prior to her originations career, Gemma was a Fannie Mae and FHA underwriter for over 10 years, most recently as part of Berkadia’s FHA underwriting management team and loan committee.

Her well-rounded commercial real estate experience also includes stints at a bridge/mezzanine lender, a property management firm, and real estate consulting. She resides in Hingham, Massachusetts with her husband, adorable daughter, and once she has a house plant that lives more than a year, she might break down and get a dog as well.

Richard Muraida

SVP, Director of Commercial Real Estate Lending

Rockland Trust Bank

Rick Muraida joined Rockland Trust in 2013 and is SVP, Director of Commercial Real Estate Lending. He is responsible for developing and expanding the bank’s Commercial Lending efforts in the Greater Boston. He is also responsible for the bank’s affordable housing lending and investment throughout the franchise.

Prior to joining Rockland Trust, Rick held senior level positions at Eagle Bank, Boston Private Bank & Trust, Anglo Irish Bank, Eastern Bank, Fleet National Bank, and Bank of Boston.

He currently serves on the loan committee for the Massachusetts Housing Partnership Fund (MHP), is Board Treasurer for the Community Economic Development Assistance Corporation (CEDAC), is a Board Member of MetroHousing Boston, a Member of the Policy Leadership Council for the Citizens Housing and Planning Association (CHAPA) and the Board of Overseers of the South Shore Conservatory and the Boston Symphony Orchestra Business Partners Advisory Council. He is also a member of the National Association of Industrial and Office Properties (NAIOP). He is past chairman of both the Loan and Investment Committees of the Massachusetts Housing Investment Corp. (MHIC) and a former Board Member of the Affordable Housing Investors Council (AHIC) and a former member of the Boston Local Initiative Support Corporation (LISC) Advisory Committee.

He is a graduate of Boston University and the MIT Center for Real Estate Minority Developers Executive Program and the LeadBoston program.

Nathan Bernard

Moderator

Nixon Peabody

Nathan Bernard is a partner focusing in the areas of the low-income housing (LIHTC) and new markets (NMTC) tax credits.

I work with investors and syndicators to apply LIHTCs to help finance the development of affordable housing for working families across the country. I have also structured complex transactions with multiple layers of funding for certain targeted populations such as the elderly and the disabled.

I also work with investors and community development entities in the NMTC field, helping to finance the construction or rehabilitation of hospitals, factories and schools using financing from the sale of NMTCs. These projects help bring jobs and economic growth to historically underserved areas.

Having worked extensively with several different tax credit areas, I have been involved in structuring complex transactions using several sources of financing, including HOME loans, HUD financing and tax-exempt bonds. Sometimes, transactions combine multiple tax credits, such as the recent renovation of a historic hotel in Milwaukee, Wisconsin, that involved state and federal LIHTC and historic rehabilitation (HTC) tax credits. Another transaction combined solar credit and NMTC financing to place solar panels on the roofs of low-income housing developments. These innovative structures cause me to constantly think “outside the box” on the best way to serve clients.

Working with clients at all levels has given me the ability to see a broader picture of the growing trends in our industry and better understand the impact tax incentive financing can have on our communities.

I see a lot of opportunity in how public/private partnerships will continue to expand to provide develop and revitalize communities. As demand for tax incentive financing increases, our industry will continue to find new and innovative structures to meet this demand.

Keynote Remarks from the Mayor of Boston

Martin J. Walsh
Keynote

Martin J. Walsh

Mayor

City of Boston

Martin J. Walsh

Mayor

City of Boston

Martin J. Walsh, a lifelong champion of working people and a proud product of the City of Boston, is the City’s 54th mayor. Mayor Walsh was sworn in to serve a second term on January 1, 2018.

Mayor Walsh’s vision is of a thriving, healthy, and innovative Boston — a City with equality and opportunity for all, where a revolutionary history inspires creative solutions to the challenges of the 21st century.

Since taking office, Mayor Walsh has focused on strengthening Boston’s schools, adding hundreds of high-quality pre-kindergarten seats, funding extended learning time and advanced curriculum at more schools, and securing tuition-free community college for Boston Public Schools graduates.

The Mayor has led Boston to the forefront of the global innovation economy, by attracting industry-leading private sector employers, upgrading the City’s digital infrastructure, and using technology to transform government services — from a parking meter payment app to a new City website.

At the same time, he has created powerful tools for low-income workers, including a “learn and earn” job apprenticeship program and an Office of Financial Empowerment. He is the founding vice-chair of the Cities of Opportunity Task Force at the U.S. Conference of Mayors, elevating the national conversation on income inequality.

The Walsh Administration has addressed the tremendous need for housing in the City with an ambitious plan, setting records for new affordable and middle-class homes. In addition, it has built a state-of- the-art homeless shelter and gotten the City on a path to effectively ending chronic homelessness.

The Administration has been hailed by President Obama for expanding young people’s opportunities and breaking new ground in crime prevention and police-community relations.

Other milestones include the nation’s first municipal Office of Recovery Services to prevent and treat substance abuse; the City’s first Cultural Plan in a generation, to restore Boston’s identity as an arts leader; and, in a sign of strong fiscal management and economic policy, the City’s first perfect AAA bond ratings, unlocking unprecedented investments in parks, libraries, and public safety.

Finally, the Mayor has invited the people of Boston to help build a blueprint for the City’s future in Imagine Boston 2030, the first citywide plan in half a century. Before taking office, Mayor Walsh served in the Massachusetts House of Representatives, where he was a leader on job creation and worker protections; substance abuse, mental health, and homelessness; K-12 education; and civil rights. He played a key role defending Massachusetts’ pioneering stand on marriage equality.

Mayor Walsh also made his mark as a labor leader. After following his father into Laborers Local 223 in Boston, he rose to head the Building and Construction Trades Council from 2011 to 2013. He worked with business and community leaders to promote high-quality development, and he created a program called Building Pathways that has become a model for increasing diversity in the workplace and providing good career opportunities for women and people of color.

Born and raised in the neighborhood of Dorchester by immigrant parents, Mayor Walsh is driven to make sure Boston is a City where anyone can overcome their challenges and fulfill their dreams. As a child, Mayor Walsh survived a serious bout of Burkitt lymphoma, thanks to the extraordinary care he received at Boston Children’s Hospital and Dana Farber Cancer Institute. His recovery from alcoholism as a young adult led to his lifelong commitment to the prevention and treatment of addiction. And while working full-time as a legislator, he returned to school to earn a degree in Political Science at Boston College.

Mayor Walsh continues to reside in Dorchester, where he shares his life with longtime partner Lorrie Higgins.

Summary

1) Where are the majority of affordable housing developments happening in the Boston area?

2) What neighborhoods can offer solutions to affordable housing concerns?

3) How can government incentives aid in solving Boston's affordability challenge?

4) What strategies are developers using to maximize their profits and commit to community engagement?

5) How can transit revitalization support the efforts of affordable housing development?

Agenda

Time Activity
11:30 AM
12:30 PM
Breakfast & Networking
12:30 PM
1:00 PM
Fireside Chat with Jack Manning
1:00 PM
1:45 PM
Buying/Developing Affordable Assets and How to Make them Work
1:45 PM
2:00 PM
Keynote Remarks from the Mayor of Boston
2:00 PM
2:45 PM
Financing, Regulations & Solutions for Tomorrow
2:45 PM
3:00 PM
Post Event Networking