NTCIC Staff

Our staff consists of dedicated and seasoned experts in the tax credit industry who will work hard with and for you.

Connect With an NTCIC Rep for an HTC or NMTC Project
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Sales Representative
Mandi Solomon
Sales Representative
Heather Buethe
Sales Representative
Amanda J. Bloomberg
Sales Representative
Matthew Prickett
Sales Representative
William Fiederlein
Sales Representative
Kathleen Galvan
Sales Representative
Christina Smith
Sales Representative
Kandi Jackson

Executive Office

  • Kenneth
    Kenneth Fischbach
    Executive VP & Chief Financial Officer

    Kenneth
    Kenneth Fischbach
    Executive VP & Chief Financial Officer

    As Executive Vice President and Chief Financial Officer, Kenneth provides strategic financial leadership and implements the organization’s fiscal functions including accounting, finance, risk management, and operations. Additionally, he spearheads new capital raising initiatives, transaction structuring alternatives, manages the company’s subsidiaries, and enhances fund management services.

    Kenneth joined NTCIC in 2019, leveraging over 25 years of experience in balance sheet, portfolio, and liquidity management; debt capital markets, structured finance, compliance, risk management, and investor relations. Before joining NTCIC, Kenneth served as Vice President in Finance for Fannie Mae where he was instrumental in leading an organizational transformation strategy to substantially streamline operations, enhance transparency, and spur innovation. Kenneth also served as Senior Vice President of Sallie Mae where responsibilities included managing the Treasury and Corporate Finance functions. In addition to these roles, Kenneth has held leadership positions at several top 10 banks and Fortune 500 companies where he was responsible for multi-billion-dollar funding and investment portfolios.

    Kenneth earned a Bachelor of Science in Finance & Marketing, Magna Cum Laude, from the University of Baltimore and an MAS in Finance from Johns Hopkins University. He previously served as a Board Member for the American Financial Services Association, American Securitization Forum, and the Securitization Finance Industry Group.

     

  • Merrill
    Merrill Hoopengardner
    President

    Merrill
    Merrill Hoopengardner
    President

    As President of NTCIC, Merrill directs fundraising and acquisition opportunities, develops and implements overall strategy and new lines of business for the company and coordinates governing board/staff relations.

    Merrill joined NTCIC in 2016, bringing 19 years of experience in community development finance that includes the structuring and closing of over $1 billion utilizing Historic, New Markets, and Low-Income Housing Tax Credits. Before joining NTCIC, Merrill was a Principal at Advantage Capital Partners, a finance company that specializes in using public-private partnerships to raise venture capital and small business capital for investments and loans in underserved areas. At Advantage, Merrill raised over $100 million per year in state and federal NMTC funds that were used to provide access to capital for small businesses nationwide.

    Merrill began her tax credit career with the law firm Nixon Peabody LLP, where she represented a number of prominent community development entities, investors and project sponsor clients.

    Merrill received her bachelor’s degree and law degree from Duke University. She is the chair of the Historic Tax Credit Coalition and a member of the Novogradac Journal of Tax Credits Advisory Board, the SunTrust CDE Advisory Board, the Banc of America CDE Advisory Board, and the Executive Committee of the New Markets Tax Credit Coalition.

     

  • Mike
    Mike Palien
    Marketing & Communications Manager

    Mike
    Mike Palien
    Marketing & Communications Manager

    As the Marketing & Communications Manager, Mike leads the development and execution of NTCIC’s marketing strategies to reach a broader audience through brand awareness, promotion, and community impact storytelling. He produces NTCIC’s front-facing marketing, design, public relations, and media initiatives, while also supporting the legislative affairs and advocacy work of the Public Policy team. He has been published in several industry-leading periodicals including the Novogradac Journal of Tax Credits and Preservation Magazine.

    Prior to joining NTCIC, Mike worked as a Finance and Marketing Advisor for a Baltimore-based real estate development firm specializing in adaptive reuse and historic rehabilitation. In this position, he marketed and represented nonprofit organizations and community groups seeking financing for real estate developments. Additionally, he was a representative for Urban Action Community Development, a Community Development Entity that supported catalytic real estate development initiatives in underinvested communities nationwide. He has sourced and deployed over $100 million in New Markets Tax Credit allocation.

    Mike began his career in historic preservation as a Baltimore-based residential Realtor specializing in historic city homes. Mike earned his bachelor’s degree in Electronic Media from Towson University.

  • Mike
    Mike Phillips
    Director of Public Policy

    Mike
    Mike Phillips
    Director of Public Policy

    As Director of Public Policy, Mike Phillips specializes in garnering and organizing local, national, and federal advocacy initiatives. He works to secure congressional support for enhancement legislation relating to the Historic Tax Credit (HTC), New Market Tax Credit and other community development incentives. Mike is a nationally recognized leader in advising advocates in delivering timely communication and key information to congressional offices on behalf of HTC. He helps advocates plan and coordinate in-district/state site-visits with members of congress and orchestrates DC lobby days on behalf of the Historic Tax Credit Coalition.

    Prior to joining NTCIC in 2012, Mike was the President of Phillips Associates, Inc. a consulting firm specializing in the representation of national non-profits, for-profit industries, and national governing bodies in sports. Additionally, he served as a conservation consultant on transportation and historic preservation issues.

    Mike began his public policy career with the National Recreation and Park Association, where for nine years, he successfully lobbied Congress for issues such as annual appropriations and permanent funding measures for public lands, urban parks, wildlife, historic preservation, and proposed reinvestment for Outer Continental Shelf (OCS) federal energy revenues.

    Michael earned a Bachelor of Science from Old Dominion University and undertook graduate studies in American Politics and Comparative Politics at George Mason University. He is a former Advisory Board Member to George Mason University’s School of Parks, Recreation and Leisure Studies and a former Advocacy Advisor to the U.S. Tennis Association. Mike volunteers with Fairfax County (VA) Park Authority and was previously recognized by the City of Norfolk (VA) as one of the City’s “Most Outstanding Volunteers.” He is active with local and national youth leadership organizations and ministries, and he is a licensed youth soccer coach and trainer.

Accounting & Finance Department

  • Suzanne
    Suzanne Brown
    VP of Finance and Controller

    Suzanne
    Suzanne Brown
    VP of Finance and Controller

    As Vice President of Finance & Controller, Suzanne is responsible for the accounting functions for NTCIC, its subsidiaries, and its funds. This includes preparing financial statements and investor reporting, managing the preparation of audits and tax returns, and performing loan servicing for all debt investments. Suzanne also oversees NMTC compliance and assists in managing NTCIC’s NMTC program. In addition, Suzanne manages the HR, IT and administrative functions for NTCIC and its subsidiaries.

    Suzanne has 30 years of accounting and finance experience and has held various senior management positions in corporate accounting for both private and public companies. Prior to joining NTCIC, she worked for Enterprise Community Investment, Inc., where she was responsible for deploying over $100 million in NMTC capital, as well as overseeing compliance and investor reporting and served on their finance team. She additionally held other positions in corporate accounting and was a manager in the financial services practice of KPMG, a national public accounting firm.

    Suzanne is a CPA and holds a Bachelor of Accounting, Magna Cum Laude, from The George Washington University and an MBA from Johns Hopkins University.

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NT Solar

  • Karin
    Karin Berry
    VP and Manager of Renewable Energy

    Karin
    Karin Berry
    VP and Manager of Renewable Energy

    Karin Berry serves as the primary business development/relationship manager with renewable energy tax credit investors and project developers to syndicate Solar Investment Tax Credits. She manages the team for originating, structuring, underwriting and closing renewable energy tax credit investments. Since Karin joined NTCIC, we have added 6 new investors and 10 new developer partners and funded more than 25 community-based projects.

    Karin maintains strong relationships with both investors and developers and has a deep reach into the renewable market with experience spanning 15 years and over $1 billion in investments.  Prior to NTCIC, she served as Senior Advisor in the Office of Policy for the U.S. Department of Energy, Vice President of the Guggenheim Capital Markets, Principal of Pave Energy Finance; and most re­cently, Senior Vice President of PNC Energy Capital. She has worked on renewable transactions all over the country for commercial, municipal, residential, utility and non-profit clients.

    Karin received a bachelor’s degree from Samford University and a master’s degree from the LBJ School of Public Affairs at the University of Texas, Austin. She has been an elected Advisory Neighborhood Commissioner in Washington D.C. and serves as a mentor to teenage girls through her church.

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  • Shervin
    Shervin Sepehri
    Project Manager, NT Solar

    Shervin
    Shervin Sepehri
    Project Manager, NT Solar

    As a Project Manager, Shervin is responsible for assisting in the tax equity investment structuring process by analyzing proformas, building models, negotiating deal terms, and completing due diligence for NTCIC’s renewable energy program, NT Solar. He prepares reports for investment committee and investor consideration while managing the closing process for approved solar ITC deals. Shervin has successfully helped close 7 solar transactions totaling 22MW and $26 million in tax equity.

    Shervin joined NTCIC in 2018 with 5 years of experience in investment management and review. Prior to joining NTCIC, Shervin spent his career at Fannie Mae assisting with the valuation and analysis of their multi-billion-dollar structured products portfolio. This includes valuation and analysis on CMO, CMBS, Credit Risk Transfer, Muni Bonds, and non-agency RMBS, while running stress scenarios and providing market commentary on relevant capital markets.

    Shervin earned a Bachelor of Science Degree in Finance and Accounting from the University of Maryland and became a CFA charter holder in September of 2017.

    17.

Acquisitions Team

  • Amanda
    Amanda Bloomberg
    Acquisitions Manager

    Amanda
    Amanda Bloomberg
    Acquisitions Manager

    Amanda is responsible for identifying, structuring and preliminary underwriting prospective federal/state HTC and NMTC investments. Prior to joining NTCIC, Amanda spent nine years at AEGON USA Realty Advisors in their Community Investment group where most recently she was an associate director originating, structuring and closing LIHTC and HTC transactions. She previously worked in their asset management department overseeing over 70 tax credit investments, representing approximately $1 billion in equity. Amanda earned a Bachelor of Arts Degree in Finance and Real Estate from the University of Northern Iowa and is currently pursuing a Master of Science Degree in Real Estate and Infrastructure from Johns Hopkins University.

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  • Heather
    Heather Buethe
    Director of Project Management

    Heather
    Heather Buethe
    Director of Project Management

    As Director of Project Management, Heather oversees NTCIC’s HTC and NMTC project management team, which is primarily responsible for underwriting and closing debt and equity investments in projects throughout the United States.  In FY19, the team deployed $64 million of NTCIC’s NMTC allocation and closed 14 transactions ranging from small main street building rehabilitations to large metropolitan projects with development costs in excess of $200 million.   Heather also leads NTCIC’s Opportunity Zone task force.

    Heather has more than 12 years’ experience in the tax credit industry. She began her tax credit career with the law firm Husch Blackwell LLP, where she counseled investors, lenders, community development entities, and developers.  She built an in-depth knowledge regarding the HTC and NMTC program requirements and learned how to navigate the complexities of real estate projects with multiple layers of financing.  Heather also spent over three years at a national bank where she managed complex, multi-tiered federal and state HTC and NMTC transactions with multi-million-dollar investments. Here she closed over twenty transactions using in excess of $145 million in equity and generating over $162 million in tax credits.

    Heather earned her bachelor’s degree from Truman State University and her law degree from Washington University in St. Louis. She is a member of the Historic Tax Credit Coalition and Novogradac’s Opportunity Zone Working Group

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  • William
    William Fiederlein
    Acquisitions Manager

    William
    William Fiederlein
    Acquisitions Manager

    William Fiederlein is an Acquisitions Manager with NTCIC based in the DC office. In this role, William is responsible for sourcing and underwriting historic and new markets tax credit transactions across the country. William is also actively involved in the refinement of internal business processes and supports investor recruitment and retention efforts.

    Since joining NTCIC in 2016, William has been responsible for closing over $120 million of equity investments in tax credit transactions on behalf of several major US financial institutions totaling over $750 million in development costs. Sample transactions range from a small business incubator in Buffalo, New York to a nationally recognized pediatric health and research center in Washington, DC. Prior to joining NTCIC, William worked for a boutique tax credit syndication and consulting firm where he assisted project sponsors in securing equity through various federal and state tax credit programs.

    William graduated from the University of South Carolina with a Bachelor of Science in Finance. He frequently participates in lobbying efforts on behalf of the HTC and NMTC and speaks on panels at industry events.

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  • Kathleen
    Kathleen Galvan
    Senior Project Manager

    Kathleen
    Kathleen Galvan
    Senior Project Manager

    As a Senior Project Manager, Kathleen manages the closing process for Historic Tax Credit and New Markets Tax Credit investments.

    Kathleen has been with NTCIC for 8 years, originally joining the team as an Asset Manager. Prior to this, she served as a Real Estate Development Manager for a financial advisory firm. In this role, Kathleen managed the commercial and residential real estate portfolio and collaborated with urban planners, researchers, builders and other professionals during the development stages of mixed-use real estate developments in Texas and Louisiana.

    She holds an MBA from the University of Texas, McCombs School of Business, focused on Real Estate Finance.

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  • Kandi
    Kandi Jackson
    Senior VP and Managing Director of Acquisitions and Project Management

    Kandi
    Kandi Jackson
    Senior VP and Managing Director of Acquisitions and Project Management

    As Managing Director, Kandi oversees the Acquisitions and Project Management Team of NTCIC with a focus on HTC and NMTC investments, which is primarily responsible for finding, underwriting, closing, and initiating the first equity and loan disbursements to a project. Additionally, she originates and manages NTCIC’s upper-tier investor relationships.

    Kandi joined NTCIC in 2008, bringing more than 20 years of senior-level experience in real estate development and finance. Kandi was formerly a Director at Wachovia where she originated and managed developer relationships through underwriting, closing, and asset management of complex transactions, including both HTC and NMTC investments. Prior to this, she served as a Vice President with PNC and Simpson Housing Solutions (formally KBMH), where she originated LIHTC and HTC investments. She also managed Simpsons Housing Solutions’ East Coast Division, including originators, project managers, and construction inspectors.

    Kandi began her real estate career with Bovis Construction as a Construction Manager, where she established on-site project development experience for high-profile historic and non-historic new construction projects.

    Kandi is licensed as a general contractor and general engineer in California, as well as a real estate broker in California, North Carolina, and South Carolina. She received a bachelor’s degree from UCLA and an MBA from Pepperdine University.

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  • Matt
    Matt Prickett
    Acquisitions Manager

    Matt
    Matt Prickett
    Acquisitions Manager

    Matthew Prickett is an Acquisitions Manager at NTCIC, where he is responsible for identifying, structuring, and underwriting prospective Historic and New Markets Tax Credit investments. Based in St. Louis, Missouri, Matt maintains a broad network of relationships including preservation consultants, accountants, attorneys and developers and has participated in tax credit investment across the United States.

    Over the last 15 years, Matt has worked with community development entities, banks, and government agencies to encourage economic revitalization in distress communities and equitable access to affordable financial products. Prior to joining NTCIC, Matt was the Senior Asset Manager for US Bank CDC, a national bank responsible for HTC and NMTC transactions. In this role, he managed complex historic and new markets tax credit investments from the closing through the end of the compliance period while being required to address difficult and nuanced issues often associated with these types of investments.

    Matt earned both his bachelor’s degree in Urban Planning/Public Finance, as well as a law degree from St. Louis University. Since November 2016, he has played an active role on the Historic Tax Credit Coalition board where he recently spearheaded a new membership drive.

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  • Christina
    Christina Smith
    Senior Project Manager

    Christina
    Christina Smith
    Senior Project Manager

    As Project Manager for NTCIC, Christina performs a variety of acquisition activities including underwriting and managing the closing process for debt and equity investments involving federal/state historic, and new markets tax credits for all types of asset classes throughout the US.

    Before joining NTCIC in 2006, Christina worked for a leading warehouse lender where she managed account portfolios totaling over $1 billion in bank credit lines. She also has three years of experience as a commercial real estate paralegal for Skadden, Arps, Slate, Meagher & Flom LLP.

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  • Mandi
    Mandi Solomon
    Financial Analyst

    Mandi
    Mandi Solomon
    Financial Analyst

    Mandi Solomon is a Financial Analyst with NTCIC based in the DC office. In this role, Mandi assists both the Acquisitions and Project Managers with the due diligence, underwriting, and closing process for HTC, NMTC, and private equity investments. Mandi coordinates initial outreach and contact with project sponsors, provides technical assistance to early-stage development projects, and coordinates organizational needs for project-level matters. Since starting at NTCIC, Mandi has supported the financial acquisition and closing of more than 30 projects.

    Prior to joining NTCIC, Mandi worked as a Real Estate Development Associate for Community Preservation and Development Corporation, a nonprofit affordable housing developer working on adaptive reuse projects that utilized various tax credits. In this role, she worked on multiple LIHTC/HTC deals to bring needed affordable housing to areas that also needed revitalization efforts. Mandi has 5+ years of working on Historic Preservation projects utilizing HTCs.

    Mandi has a bachelor’s degree in Historic Preservation from the University of Mary Washington and a dual master’s degree in Historic Preservation and Community Planning from the University of Maryland. Mandi is also the Vice Chairman of the Young Alumni Council for the University of Mary Washington. Mandi is also certified in Housing Development Finance by the National Development Council.

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Have a general question for our acquisitions managers?

Contact Our Team

Asset Management & Compliance

  • Andrae
    Andrae Baly
    Senior Asset Manager

    Andrae
    Andrae Baly
    Senior Asset Manager

    As Senior Asset Manager, Andrae is responsible for asset management, including construction monitoring as well as post-closing lower tier compliance, and investor reporting for NMTC, Solar ITC, and HTC investments. He also processes post-closing equity investment installments based on operating agreement benchmarks, reviews annual financial statements, and manages the company database. Before joining NTCIC in 2007, Andrae earned over seven years’ experience in asset management, compliance monitoring and loan administration of both equity investments and mezzanine debt for CIG International, a real estate investment firm, and Key Bank Real Estate Capital. He has a Bachelor of Science in Business Administration from Houghton College (NY).

  • Laura
    Laura Burns
    Community Impact Compliance Manager

    Laura
    Laura Burns
    Community Impact Compliance Manager

    As the Community Impact Compliance Manager, Laura performs and oversees NMTC program and compliance duties including data collection and analytics for NTCIC’s portfolio of projects, including economic impact and Community Reinvestment Act (“CRA”) information. Laura evaluates and scores all NMTC projects presented to NTCIC and since FY18 she has helped deploy $83MM in NMTC allocation. She is responsible for community impact reporting for NTCIC’s active CRA-eligible deals which currently consists of $235.2MM in 28 NMTC/HTC twin investments and $140.4MM in 9 HTC-only investments. Laura is also an integral part of NTCIC’s NMTC application writing process.

    Prior to joining NTCIC in 2017, Laura spent 10 years in the banking industry. She began her banking career with a Maryland-based Community Bank with $500MM+ in assets, where she organized and developed succinct narrative and risk analysis for complex commercial real estate loans. Most recently, she served as a Senior Credit Analyst for a top 5 Bank where she analyzed and underwrote complex companies and non-profits with varying types of risk, provided accurate risk ratings for borrowers and facilities, and performed ongoing monitoring of a complex credit portfolio.

    Laura became interested in the New Markets Tax Credit and Historic Tax Credit programs while earning her Master of Real Estate Development degree from the University of Maryland. Laura also holds a Bachelor of Science in Sociology from Virginia Tech. Laura is a regular volunteer of ID Ministry, a program that provides homeless and low-income individuals, and returning citizens with administrative and monetary assistance to access the identification documents necessary to obtain jobs, housing, education or services in the District of Columbia.

  • Sarah
    Sarah McDonnell
    Senior Asset Manager

    Sarah
    Sarah McDonnell
    Senior Asset Manager

    As an Asset Manager, Sarah is responsible for managing NTCIC’s portfolio of HTC, NMTC, and ITC projects during the tax credit compliance periods. She oversees the delivery of operating agreement benchmarks, reviews annual financial statements, and ensures impact requirements are met and recorded. Her portfolio consists of 28 projects, including 14 HTC/NMTC projects and 14 solar deals totaling over 43 MW.

    Prior to joining NTCIC, Sarah worked for five years as a Senior Development Associate for Karp + Associates LLC, a real estate development company in Michigan that specialized in historic rehabilitation. There, she prepared financing packages, reviewed all transaction documents, and oversaw the closing process of each project. In this role, she managed projects totaling over $129 MM of total development costs.

    Sarah graduated with her Juris Doctor, cum laude, from Western Michigan University and also holds a Bachelor of Arts in Economics from Michigan State University.

  • Bret
    Bret Mosher
    VP of Asset Management

    Bret
    Bret Mosher
    VP of Asset Management

    As Vice President of Asset Management, Bret is responsible for the supervision of NTCIC’s existing NMTC, HTC, and solar ITC portfolio investments, including all post-closing financial disbursements, compliance oversight, and reporting. In addition, Bret oversees the onboarding process of the investment at closing, construction monitoring, project performance, and ultimately the investor’s exit. Currently, Bret and his team actively manage 94 investments in NTCIC’s portfolio in excess of $3.6MM in total development costs.

    Bret has over 25 years of experience in commercial real estate appraisal, underwriting, financing, asset management, and acquisition/due diligence. Prior to joining NTCIC, Bret spent three years as an investment and acquisition manager at a private equity real estate investment company and was primarily responsible for underwriting potential deals, evaluating risks, and financial analysis. Bret also has five years of experience as a senior asset manager at Fannie Mae and managed a primarily residential portfolio of 35 assets with a total asset value of $1.1 billion. He provided direct asset management and fund oversight for joint venture market rate equity, mezzanine debt, and historic tax credit equity for acquisition, rehabilitation, and new development deals.

    Bret received a Bachelor of Business Administration in Finance from The College of William and Mary and an MBA in International Finance from Loyola College. He is a member of the Historic Tax Credit Coalition and the Novogradac Opportunity Zone Working Group.

  • Margaret
    Margaret Whitesides
    Senior Asset Manager

    Margaret
    Margaret Whitesides
    Senior Asset Manager

    As Senior Asset Manager, Margaret manages a portfolio of NMTC, HTC, LIHTC and solar investments totaling over $200 million. She is the primary contact with developers and investors during the tax credit compliance periods. Additionally, Margaret reviews construction draws and post-closing tax credit funding, completes investor reporting, works out complex loans, monitors tax credit compliance, and assists in reviewing audits and tax returns.

    Prior to joining NTCIC in 2010, Ms. Whitesides was the Director of Asset Management at Enterprise Community Investment. At Enterprise, she was responsible for the asset management of over $570 million in NMTC commercial real estate investments, while managing relationships with developers, CDE’s and investors. Additionally, Margaret has over 25 years of progressively responsible experience in commercial real estate lending, asset management, and relationship management with organizations such as GMAC-RFC, Freddie Mac, and national banks in the Washington, DC area.

    Margaret received her bachelor’s degree from the University of Virginia and has an MBA from the George Washington University.

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