As a Project Manager, Carolyn is responsible for underwriting and closing both historic and new market tax credit transactions. Carolyn brings more than eight years of experience in the fields of real estate and community development. Her extensive background allows her to navigate the challenges of project management within these sectors, providing valuable insight and leadership throughout each phase of development.

Prior to joining NTCIC, Carolyn was Vice President of Development at Radson Development, a New York based real estate developer specializing in affordable housing and mixed-use spaces. At Radson, Carolyn played a key role in closing over $100 million in new construction transactions. These projects were structured with New York City housing finance programs as well as Low-Income Housing Tax Credits. 
 
Carolyn is a former attorney who earned her law degree from Boston University. She also holds a bachelor’s degree in English from George Washington University. She lives in New Jersey with her husband and two children.

As Senior Project Manager, Tony is responsible for underwriting and closing historic tax credit and new markets tax credit transactions across the country. He has closed investments in multifamily, hospitality, mixed-use, and community facilities, including three theaters. He has more than ten years of experience working in community development finance.

Before joining NTCIC, Tony was Director of Finance at Civic Builders, a not-for-profit developer and lender for facilities for high-performing charter schools, where he raised construction and permanent debt for turnkey charter school development projects. He also deployed NMTC allocation during the years he managed Civic’s CDE. 
 
Tony earned a master’s degree in City and Regional Planning from the Bloustein School at Rutgers University and a bachelor’s in studio art and economics from Williams College. 

As an Acquisitions Manager, Kathleen manages the closing process for Historic Tax Credit and New Markets Tax Credit investments. 
 
Kathleen has been with NTCIC for 15 years, originally joining the team as an Asset Manager then Project 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.

As a member of the Acquisitions team, Amanda leads efforts to identify and secure equity investment opportunities in federal and state Historic Tax Credits (HTCs) and New Market Tax Credits (NMTCs) across the United States. Since joining the firm in 2017, Amanda has originated over $400 million in federal and state HTCs and more than $115 million in NMTC allocations.

Prior to joining NTCIC, Amanda spent ten years at AEGON USA Realty Advisors in their Community Investment group, where she served as an Associate Director. In this role, she was responsible for originating, structuring, and closing LIHTC and HTC transactions. Additionally, 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 a Master of Science Degree in Real Estate and Infrastructure from Johns Hopkins University.

As Managing Director of Credit and Portfolio Management, Bret oversees NTCIC’s existing NMTC and HTC investments along with the solar ITC portfolio, including all post-closing financial disbursements, compliance oversight, and reporting. Currently, NTCIC is actively managing 90 assets under management (AUM) comprising roughly $1.4 billion in gross equity investment.

Bret has over 35 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.

As Senior 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. She has more than 18 years’ experience in the tax credit industry and has been with NTCIC since 2018. Heather 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. 
 
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 an advisory board member for the HTC section of the Novogradac Journal of Tax Credits.

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 managers.

Kandi began her real estate career with Bovis Construction in construction management as a Project 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.

Paul serves as the team leader for NT Solar, where he specializes in monetizing energy tax credits with a particular focus on solar and battery storage markets. He serves key relationships with investors and project operators. He oversees project origination, structuring, diligence, closing, and operations reporting.

Paul brings nearly two decades of experience in the renewable energy sector, enabling deep insights into renewable energy market dynamics and the complexities of energy finance. Before joining NT Solar, Paul led the finance function at Distributed Sun, a leading developer of community solar and distributed generation (DG) projects. There he led efforts to maximize project value at the time of sale, manage development spend, select new markets, and raise development capital.  Earlier in his career, Paul served as a tax policy specialist at the American Wind Energy Association, focusing on wind tax credit policy and analyzing the tax equity market. He also served as a Risk Officer at Wachovia Corp, where he was involved in underwriting tax equity investments in wind energy projects.

Paul also teaches a graduate college course in the Kenan-Flagler Business School at the University of North Carolina, focused on the development and finance of solar and wind projects, and serves on the Advisory Board of the Energy Center at Kenan-Flagler.

As President and CEO of NTCIC, David Clower directs fundraising and acquisition opportunities, develops and implements the company’s overall strategy and new lines of business, and coordinates governing board/staff relations. He also oversees the activities of NTCIC’s subsidiaries, including NT Solar, NT Impact Capital, National Trust Insurance Services, and National Trust Tours.

David joined NTCIC in 2024 with 30 years of commercial and investment banking and community development finance experience across commercial real estate, venture debt, private equity, alternative, and socially responsible impact investment platforms. Prior to joining NTCIC, he served as Chief Credit Officer, Chief Investment Officer, and Executive Vice President of Strategic Investments at RDF, a national, investment grade-rated, community development financial institution based in Arizona. He has specialized experience underwriting and structuring commercial mortgage-backed securities working with bulge bracket investment banks and spent ten years early in his career in lending and client advisory roles with Silicon Valley Bank in both California and Texas.

He is currently a member of the New Markets Tax Credit Advisory Board of Directors for Petros Community Impact Fund, a Texas-based Community Development Entity; a member of the Board of Directors for The Open Access Fellowship, which is focused on increasing Black and Latino representation throughout the community development industry; and as Chair of the board of Directors for the Phoenix Conservatory of Music, a non-profit, creative youth development organization.

David previously served as Chair of the CDFI Advisory Board for Quontic, a privately-held, New York-based adaptive digital bank; an Executive Committee Member of the New Markets Tax Credit Coalition’s Board of Directors, a member of the Bank of America Merrill Lynch Community Advisory Board, a member of the Corporate Advisory Board of the Phoenix Chapter of the Association of Latino Professionals for America (ALPFA); and as Vice Chair of NTCIC’s Board of Directors. He is a multi-national with dual citizenship in the United States and México. He studied Applied Economics at the University of San Francisco, Commercial Real Estate Finance at the Massachusetts Institute of Technology, and Strategic Business Leadership at the University of Chicago Booth School of Business.

Laura oversees NTCIC’s New Markets Tax Credit (NMTC) program, supporting transactions from origination through closing and into asset management. She manages compliance processes, AMIS reporting, and investor reporting, and also handles data collection, management, and analysis for NTCIC’s impact practice, ensuring data completeness and accuracy.

Laura is a co-leader of NTCIC’s impact measurement and management (IMM) efforts, including framework development, impact diligence, and reporting to internal and external audiences. Before joining NTCIC, Laura spent 10 years in the banking industry, gaining experience in portfolio administration, underwriting transactions, and loan documentation review.

Laura holds a Master of Real Estate Development degree from the University of Maryland and a Bachelor of Science in Sociology from Virginia Tech. In her free time, Laura co-leads a volunteer program that financially and administratively assists homeless, returning citizens, and low-income individuals, in obtaining identification documents necessary for jobs, housing, education, or other services in the District of Columbia.