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HAND member United Bank has promoted its own Joseph LeMense to Managing Director of its Community Development & Non-Profit Banking Group. In his capacity, LeMense will lead the Bank’s non-profit business development and lending initiatives throughout the District, Maryland and Virginia. His primary focus will be on providing personalized financial solutions to mission-based organizations involved in community development, affordable housing, education, social services and trade associations.
“Joe’s knowledge of the Greater Washington non-profit community and his understanding of their unique banking needs make him a great asset, not only to United Bank’s non-profit group, but to our clients,” said Ross Draber, chief operating officer of United Bank. “His vision and dedication will be invaluable as United Bank continues serving local academic, religious, social and affordable housing organizations.”
LeMense brings nearly 35 years of local commercial lending experience to this role. Most recently he served as United Bank’s Senior Vice President of Commercial Banking. LeMense’s areas of expertise include tax exempt bond finance, tax increment finance, Property Assessed Clean Energy (“PACE”) financing and Low Income Housing Tax Credit (“LIHTC”) and New Market Tax Credit (“NMTC”) financing.
The NHP Foundation (NHPF) recently released a white paper titled, “Unaffordable Housing: A Root Cause of Social Inequality” by Richard F. Burns and Thomas G. Vaccaro. Notably, the paper supports the Low Income Housing Tax Credit Program (LIHTC) and examines the issue of cost burden.
An excerpt from the paper reads:
“Social inequality is the new philanthropic buzz phrase that covers a wide-range of hard-to-resolve societal problems. For example: racial bias; right-to-vote
issues; inferior schools; low paying job opportunities, homelessness and limited access to quality nutrition and health care.
In our view, rundown apartment units located in desperately poor neighborhoods are a root cause of many quality of life issues. And these issues will only become more widespread, intractable and irreversible as the crisis of una ordable housing continues to spread from poor, underclass households to those earning average median incomes and above.”
To read the paper in its entirety, click here.
Recently BisNow featured HAND Member, Dantes Partners, in an article titled, “How a Nigerian Immigrant Became One of DC’s Most Active Affordable Housing Developers.” Founded by Buwa Binitie, the development firm has five projects in the pipeline, which will bring a total of 783 affordable units to the region’s housing market.
Binitie was born in Nigeria, and attended New York University, after which he pursued an IT startup. When the company didn’t grow as planned, he switched paths to real estate, and started Dantes Partners in 2005. Since then, he has gone from redeveloping one and two unit homes to the 462 – unit Bruce Monroe/Park Morton project he is working on now with The Community Builders, also a member of HAND.
The Office of the Deputy Mayor for Planning and Economic Development‘s communications director, Joaquin McPeek, was also quoted in the piece: “We are always encouraged to see local CBE’s and minority-owned businesses succeed in the District.” He continued, “It is equally satisfying when projects place an emphasis on affordable housing and addressing community needs—two priorities of this administration when it comes to DC development.” You can read the entire article here.
Klein Hornig partner, Steve Paul is pleased to provide the 2016 Edition of the Low-Income Housing Tax Credit booklet, which has been distributed for more than 20 years.
To read the entire booklet, click here.
Affordable Housing Finance recently announced the recipients of its 2016 Young Leader Awards, among which are three HAND members! Emily Cadik of Enterprise Community Partners, Stephanie Kinsman of Red Stone Equity Partners, and Angela Kelcher of Fannie Mae were three of six honorees recognized for their work in affordable housing. All of the Young Leaders are age 40 or younger, and “have made substantial contributions on the debt, equity, policy, and preservation sides of the industry.” You can read more here.
Congratulations to Emily, Stephanie, Angela and all of the Young Leaders!
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