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Speakers and Panels

The NYC Rental Crisis Under The Microscope

Financing and Regulation Strategy

Keith Gordon

Keith Gordon

Managing Partner

NCV Capital Partners

Gregory Russ

Gregory Russ

CEO

NYCHA

Donald Capoccia

Donald Capoccia

Principal

BFC Partners

Rafael E. Cestero

Rafael E. Cestero

President & CEO

The Community Preservation Corporation

Dave Walsh

Dave Walsh

Head of Community Development Real Estate, Northeast

Chase

Brian Thayer
Moderator

Brian Thayer

VP of Sales, Real Estate

AvidXchange

Brian Loughlin

Brian Loughlin

Principal

Magnusson Architecture and Planning

Keith Gordon

Managing Partner

NCV Capital Partners

Our principal real estate developer and financier, A. Keith Gordon, started as a Wall-street investment banker turned real estate developer, and has nearly two-decades of experience in financing, managing and developing projects from affluent to affordable in the Tri-state state area. Mr. Gordon received his BBA in Finance from Howard University and a MBA from Harvard Business School, later founding NCV Capital Partners in 2007. He and his team are dedicated to advocating for and partnering with non-profit and religious organizations to preserve quality housing for low-income communities. NCV has worked to build a reputation for being agile with various financing options in order to match developments opportunities to each client’s level of resources.

Gregory Russ

CEO

NYCHA

Gregory P. Russ is in his first year as the Chairman/CEO of the New York City

Housing Authority (NYCHA). He came to NYCHA after serving 2 years as the

Executive Director for the Minneapolis Public Housing Authority (MPHA). Prior

to working in Minneapolis Mr. Russ served as Executive Director for 12 years at

the Cambridge Housing Authority. Mr. Russ has over forty-four years of

experience in public housing policy, operations, and program management.

Although it is early in his tenure at the MPHA, issues related to the creation of

sufficient capital investment in the housing stock, voucher reform, energy,

customer service, and program efficiencies will drive future initiatives and

efforts.

At the Cambridge Housing Authority, Mr. Russ lead the policy and operations team that: designed and

implemented the Agency’s Moving to Work (MTW) Public Housing Rent Simplification Program, secured

$81M in an initial round of funding for the Agency’s ten-year $300 million housing preservation program;

worked with the City to rehabilitate the old police station into combined CHA and city office space;

secured a $300M portfolio repositioning opportunity for the all the agency’s Federal public housing using

CHA’s Moving to Work flexibility and HUD’s Rental Assistance Demonstration; secured State and City

funds along with tax credits to rebuild Public Housing at Jefferson Park; provided assistance to foster a

city wide resident group; implemented an MTW sponsor-based voucher program to address housing and

support needs for hard-to-house families; and, developed an expiring use preservation program that uses

MTW flexibility to retain affordability for these properties in Cambridge and elsewhere in Massachusetts.

Under his leadership, CHA’s policy team has also designed unique MTW subsidy programs that, in

cooperation with local partner agencies, elevate the Agency’s role in ending homelessness and fostering

family asset development and self-sufficiency.

Mr. Russ started in this field at the Dauphin County Housing and Redevelopment Authority (DCHA) in

central Pennsylvania. After working at DCHA, he went to work for the State of Pennsylvania and

subsequent to that ran his own consulting and training firm for 12 years. In 1995 he went to work for HUD

in Washington, DC where he played a key role in HUD’s successful take over of the then troubled

Chicago Housing Authority; he also worked in Detroit as part of an partnership effort to move that troubled

agency forward. Later, Mr. Russ went to work for the Chicago Housing Authority first as the Chief of Staff

and then as Chief of Policy Development where he assisted in the negotiation of Agency’s MTW

agreement and the accompanying Plan for Transformation. Mr. Russ came to Cambridge from the

Philadelphia Housing Authority, where he served as Deputy Executive Director for Operations and

contributed to the creation and implementation of that Agency’s MTW Rent Simplification policy.

He is the past President of the Public Housing Authorities Directors Association (PHADA). He is also a

member of the Board for the Council of Large Public Housing Authorities (CLPHA) serving since 2007.

Donald Capoccia

Principal

BFC Partners

Donald Capoccia is an urban developer in the fullest sense, combining his career of building in New York City with civic activities devoted to public arts and architecture initiatives. As the managing principal of BFC Partners, Capoccia spearheads the firm’s focus on constructing affordable housing in emerging neighborhoods. Under his guidance, BFC Partners was the first developer in New York City to mix low and middle-income restricted apartments with market-rate rentals. To further encourage this building trend, Capoccia was a founding member in 1998 of the New York State Affordable Housing Association. Today, his association works to increase affordable housing programs and subsidies.

Dave Walsh

Head of Community Development Real Estate, Northeast

Chase

David Walsh is Managing Director of Community Development

Real Estate and presently oversees all financing activities of

affordable housing transactions in the Northeast Region for the

bank.

Prior to joining Chase in 2011, Mr. Walsh served as Senior Vice

President of Multifamily Programs for New York State Homes &

Community Renewal (“HCR”) where he oversaw the structuring

and overall financing of over 10,000 units of mixed income and

affordable housing located throughout the State of New York. Prior

to his work at HCR, Mr. Walsh served as the Director of NYC

Housing Development for Common Ground Community, a non-

profit housing development organization specializing in housing for

the homeless, overseeing the design and development of

approximately 1,000 units of supportive housing in the metropolitan

area.

Mr. Walsh also served for two years as the Director of Brokerage in

the Real Estate Investment area of the Wafra Investment Advisory

Group, a U.S. registered investment advisor wholly owned by the

Public Institute of Social Security for Kuwait, and for seven years

as Senior Vice President of the LCP Group, LP, a privately held real

estate investment holding company acquiring net leased properties

on behalf of in-house investment partnerships and advised

institutional clients.

Mr. Walsh received a Masters Degree from Columbia University’s

School of Architecture, Planning & Preservation and an

undergraduate degree from Western New England College.

Brian Thayer

Moderator

AvidXchange

As the Vice President of Sales for AvidXchange, Brian Thayer specializes in helping companies streamline accounts payable operations and creating efficiencies through automation and best practices.

Throughout his ten-year tenure at AvidXchange, Brian has worked with hundreds of Real Estate companies, helping them evaluate and implement automation solutions. He is passionate about helping businesses become more efficient, reducing their environmental footprint, and positioning organizations to grow with negative financial impact. Brian received his BS in Business Administration, as well as Business Management & Marketing, from Bryant University.

Keynote by Deputy Mayor of Housing and Economic Development Vicki Been

Vicki Been

Vicki Been

Deputy Mayor for Housing and Economic Development

City of New York

Vicki Been

Deputy Mayor for Housing and Economic Development

City of New York

Deputy Mayor Vicki Been leads the administration's efforts to grow and diversify New York City's economy, invest in emerging industries across the five boroughs, build new affordable housing, and help New Yorkers secure good-paying jobs. The deputy mayor oversees and coordinates the operations of over 20 agencies, offices, and affiliated entities. Ms. Been has extensive experience fighting to make New York a more affordable and equitable city. As HPD Commissioner from 2014 to 2017, she helped craft Housing New York, the mayor's plan to tackle the affordability crisis and create and preserve 300,000 affordable homes by 2026. She was also instrumental in advancing the Mandatory Inclusionary Housing law, requiring developers to dedicate a certain percentage of rental units at below-market rate rents in areas that are rezoned for higher density. Ms. Been formerly served as the Director of NYU's Furman Center for Real Estate and Urban Policy, the Boxer Family Professor of Law at NYU School of Law, and as an Affiliated Professor of Public Policy at NYU's Robert F. Wagner Graduate School of Public Service. Ms. Been graduated from Colorado State University and received her JD from NYU School of Law. She has served as a Visiting Professor of Law at Harvard Law School, and as an Associate Professor of Law at Rutgers, The State University of New Jersey.

NYC Recovery

Renewed Commitment to an equitable and economically vibrant city

Aaron Koffman

Aaron Koffman

President

Hudson Companies

Lorraine Collins

Lorraine Collins

Senior Director of Public Policy

Enterprise Community

Mitch Korbey

Mitch Korbey

Partner

Herrick

RuthAnne Visnauskas

RuthAnne Visnauskas

Deputy Commissioner & CEO

NYS Division of Housing & Community Renewal

Kyle Kosar

Kyle Kosar

Senior Vice President, Community Development Lending

KeyBank Real Estate Capital

Aaron Koffman

President

Hudson Companies

Aaron Koffman leads Hudson's affordable housing pipeline and portfolio. Aaron relishes the challenge of putting Hudson's best feet forward on public and private competitions for development sites and building lasting partnerships with public, private and non-profit organizations. Aaron is continually inspired by his Hudson colleagues and loves working to bring transformative mixed-use developments like La Central, The Peninsula, BEC II and Greenpoint Hospital to reality. Aaron is a New York State Volunteer Firefighter who earned his Bachelor of Arts in Economics from UC Berkeley and his Master of City Planning from MIT. Aaron also serves on the NYC Waterfront Management Advisory Board as well as the Board of the NYU Furman Center, Coro New York, and the Center for Urban Pedagogy. He remains a diehard Los Angeles Lakers and Angels fan.

Lorraine Collins

Senior Director of Public Policy

Enterprise Community

Lorraine is responsible for working with the office’s Executive Team and Program Leaders to build and effectively execute a public-policy strategy to address affordable housing and community development issues across the New York

Market. Lorraine also oversees the Office’s advocacy and lobbying activities, as well as its communications function. Prior to joining Enterprise, Lorraine spent over a decade in New York State government working on affordable housing

policy at Homes and Community Renewal (HCR) and the Division of Budget. Lorraine played a critical role in the State’s fair housing planning efforts by launching HCRs Fair and Equitable Housing Office. Additionally, at HCR Lorraine served

as a Regional Director and Policy Advisor, leading efforts to address affordable housing and community development needs in areas such as health and housing, resilience, education and employment inequalities. Lorraine also had a five year career in the private sector, working as a financial analyst at Carrier Corporation.

Lorraine received her BBA in Accounting from Howard University and her MBA and MPA from Syracuse University.

Mitch Korbey

Partner

Herrick

Mitch Korbey is a partner, and chair of Herrick’s Land Use & Zoning Group. Mitch is an accomplished urban planner and land use attorney with more than 30 years of experience in private practice and government service. Mitch is a former Commissioner of the Board of Standards and Appeals (BSA), a former director of the Department of City Planning's (DCP) Brooklyn office, and a former deputy director of DCP’s Staten Island office. Mitch has been recognized by Chambers USA as one of New York City’s leading zoning lawyers for the past seven years. He advises clients on a wide range of issues, including site acquisitions and assemblages, site development options, zoning lot mergers and development rights transfers, as well as applications for zoning variances, special permits and other discretionary approvals from the BSA, DCP, Department of Buildings, Landmarks Preservation Commission, and other agencies. Mitch also regularly counsels prominent developers, owners and lenders on the management of millions of square-feet of New York City real estate. In doing so, he navigates the complexities of the City’s byzantine zoning resolution – guiding clients to the most efficient intersection of their business goals and what the rules will allow. He also keeps clients abreast of political headwinds that could impact their properties or development plans. Mitch is an adjunct professor of law at Brooklyn Law School, and an adjunct with Hunter College's graduate program in urban planning.

RuthAnne Visnauskas

Deputy Commissioner & CEO

NYS Division of Housing & Community Renewal

In February 2017, Governor Cuomo appointed RuthAnne Visnauskas, Commissioner of the New York State Division of Housing and Community Renewal. In March, 2017, Ms. Visnauskas was appointed as the President/CEO of the New York State Housing Finance Agency, the State of New York Mortgage Agency and the New York State Affordable Housing Corporation, the State agencies that comprise New York State Homes and Community Renewal (“HCR”).

RuthAnne previously served as HCR’s Executive Deputy Commissioner for Housing Development, where she was responsible for strategic leadership and oversight of multi-family housing finance programs, the State of New York Mortgage Agency (SONYMA), the Mortgage Insurance Fund (MIF), the Office of Community Renewal and the Office of Faith-Based Community Development Services.

Prior to joining HCR, RuthAnne was Managing Director of the Housing Advisory Board for the Robin Hood Foundation, New York's largest poverty-fighting organization. The Housing Advisory Board was established to fund initiatives to advance the quantity and quality of affordable housing for low-income New Yorkers.

RuthAnne held also several key positions at the New York City Department of Housing Preservation and Development (HPD), including the role of Commissioner from September 2014 to February 2015. HPD is the nation’s largest municipal housing agency, in charge of the development and preservation of affordable housing and the enforcement of the City’s Housing Maintenance Code.

Prior to taking the helm at HPD, RuthAnne served as Deputy Commissioner for Development, spearheading innovative development programs, including the Preserving City Neighborhoods (PCN) initiative, designed to purchase the notes of overleveraged buildings, and stabilize them by ultimately transferring them to responsible not-for-profit owners.

She received her Bachelor degree in Urban Studies from the University of Pennsylvania and holds a Master’s degree in Urban Planning from the Robert F. Wagner School of Public Service at New York University.

Ms. Visnauskas lives in Manhattan with her husband and three children.

In Conversation with Mayoral Candidate Shaun Donovan

Shaun Donovan

Shaun Donovan

NYC Mayoral Candidate

Former HUD Secretary

Shaun Donovan

NYC Mayoral Candidate

Former HUD Secretary

As New York City Mayor, Donovan will again work in partnership with President-elect Biden – ensuring that New York City’s voice is heard in the White House, and that New York’s needs are met.

Shaun Donovan believes that your zip code should not predict your chances for success or how long you live. As a nationally-respected affordable housing expert, he knows it is critical for families to live in fair, safe, and affordable housing and that every neighborhood has equal access to the jobs, opportunities, and benefits New York City has to offer.

Shaun is a proven leader and manager. As Secretary of Housing and Urban Development in the Obama Cabinet, Shaun led the nation out of the Great Recession’s housing crisis and reduced veterans homelessness by 50 percent. And he successfully managed the four-trillion-dollar federal budget as Director of the Office of Management and Budget during the Obama/Biden administration.

From January, 2009 to July, 2014, Shaun was the 15th Secretary of the U.S. Department of Housing and Urban Development, where he led the fight against the nation’s unprecedented foreclosure crisis. Under his leadership, HUD helped families rent or buy affordable homes, revitalized distressed communities, fought discrimination and dramatically reduced homelessness. After Hurricane Sandy hit his hometown, President Obama asked him to lead the Hurricane Sandy Rebuilding Task Force, leaving a stronger, more resilient region than before the storm hit.

In July, 2014, he was sworn in as the 40th Director of the U.S. Office of Management and Budget. At OMB, Shaun increased investment in key domestic and national security priorities that grew the economy, protected our country and increased opportunity. And he oversaw regulations that reduced inequality, expanded health care, improved education and fought climate change. While OMB Director, Shaun played a pivotal role in managing the nation’s response to the Ebola and Zika outbreaks.

Prior to joining the Obama Administration, Donovan served as Commissioner of the New York City Department of Housing Preservation and Development under Mayor Bloomberg, where he led the most aggressive affordable housing program in the nation. He also served in the Clinton administration as Deputy Assistant Secretary for Multi-family Housing at HUD and as acting FHA Commissioner.

Deeply affected by the crisis he saw around him growing up, he volunteered in a homeless shelter during college and interned for the National Coalition for the Homeless when he graduated. After studying housing in graduate school, he returned to work for the nonprofit Community Preservation Corporation in the Bronx and across New York City.

Donovan holds a B.A. and Masters degrees in Public Administration and Architecture from Harvard University. Shaun was born and grew up in New York City, and is married to Liza Gilbert, a landscape architect who has designed and restored parks in New York City and across the country. Shaun and Liza live in Brooklyn, where they raised their sons Milo and Lucas.

Summary

  1. The current state of the rental crisis

  2. Eviction moratorium’s impact on lending, investment, and property valuations

  3. Changes to forbearance approaches and loan restructuring

  4. Infrastructure and policy concerns as it relates to zoning and housing densities

  5. Development, design and tech methods to ensure inclusive and sustainable communities

Agenda

Time Activity
2:30 PM
2:45 AM
Pre-event Networking & Exploring

Jump into Bisnow's Digital Summit early to fill out your profile, introduce yourself to fellow attendees and send meeting requests for later in the day.

2:45 PM
3:20 PM
In conversation with Deputy Mayor of Housing and Economic Development Vicki Been
3:25 PM
4:05 PM
The NYC Rental Crisis Under The Microscope: Financing and Regulation Strategy

1. How have nationwide eviction moratoriums — and NYC's city-wide ban — changed the approach for multifamily developers, investors, and lenders? And what happens when the moratorium ends in 2021?
2. What happens if the 421-a Tax Program doesn’t get renewed?
3. How could the LIHTC system be expanded to increase the creation of affordable housing?

4:05 PM
4:30 PM
Speed Networking

Hop into speed networking to meet like-minded individuals and swap digital business cards.

4:30 PM
5:10 PM
NYC Recovery: Renewed Commitment to an equitable, sustainable, and economically vibrant city

1. Are large-scale rezoning projects like the Gowanus Canal Rezoning necessary to promote economic opportunity and equitability, or a driver of displacement for communities?
2. As many navigate the economic downturn due to the ongoing pandemic, how are developers coping with the housing density concerns of tenants — while still making a profit?
3. How will the lessons learned from this pandemic, climate change and the quest for net carbon zero impact the future of cities? How can the industry mitigate tighter environmental regulations that lead to higher capital expenditure burdens?

5:10 PM
5:50 PM
In Conversation with Mayoral Candidate: Shaun Donovan
5:50 PM
6:30 PM
Post Panel Networking

Closeout the event with another round of swapping info!