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| The Equity Trust Fund Committee | |||||||||||||||||||
| The
Equity Trust Fund Committee is an important part of the approval process
for Borrower applications. The Equity Trust Fund Committee votes on whether
or not to approve each loan. The current members of this committee are: David Abromowitz is a lawyer at Goulston & Storrs in Boston, where his focus is on public/private financing and development transactions, affordable housing, economic development and Section 42 tax credit matters, assisted living and senior housing, and strategic advice for businesses, including non-profits. David conducts a broad national practice, representing for-profit, non-profit and governmental organizations, and is nationally known for his expertise in many areas of affordable housing and economic development. Louise Foisey, RSM has been involved in the community land trust movement for over 25 years. She was the Business Manager for the Institute for Community Economics Loan Fund for 13 years, and also spent 13 years as a high school Math teacher. A native of New Hampshire, she currently works as the Business Manager for St. Mary School in Claremont, NH. She is a member of the Sisters of Mercy North East Community. Ellie Kastanopolous, Executive Director of Equity Trust, has been a staff member since 1998, and a board member since the mid 90's. Ellie has managed the Equity Trust Fund, and Equity Trust's operating finances since she joined the staff, in addition to providing technical assistance to groups around the country. Previous to that Ellie was the Director of the Maine Land Trust, was involved in the statewide land trust movement, and brings valuable personal experience of the challenges and joys of starting and maintaining a land trust. Mary O'Hara has 20 years of experience in the field of community development lending and community reinvestment, and has served in leadership positions at the Massachusetts Urban Reinvestment Advisory Group, Boston Community Capital, and the Institute for Community Economics. Her special expertise in community lending includes loan fund start-up, loan underwriting, designing "work outs" for troubled loans, overall fund management and general technical assistance to community development financial institutions. Matt Schwartz has worked in the development, planning and financing of affordable housing, for the more than 12 years in both the private and public sectors. As a private nonprofit developer in Silicon Valley, he was responsible for the development and financing of nearly 1,000 units of affordable rental housing. In local government, he worked closely with the California Housing Partnership Corporation and its clients in preserving more than 750 units of Section 8 housing while also having primary responsibility for planning and financing hundreds of units of new affordable housing development. Matt also played a central role in the creation of the first Section 8 Guaranty Program, which has leveraged more than $50 million in additional private debt for affordable housing developments. ........Matt has served on the Equity Trust CSA Fund committee since 1997, after helping ETI preserve Live Power Community Farm in Covelo California. Now the Executive Director of the California Housing Partnership Corporation, he assists nonprofit and government organizations to create, maintain and preserve affordable housing. Equity Trust, Inc. is a tax-exempt nonprofit organization qualified under IRS Section 501c3. Equity Trust, Inc. also provides technical assistance and training, conducts a variety of educational programs, and consults on related issues of institutional and public policy. The Fund is governed by the corporation's board of directors, an administrative committee, and advisors. Together, they bring many years of experience in community development and conventional finance, related legal and professional skills, and the knowledge of grassroots practitioners. |
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