Board of Directors

JOSEPH L. SHERMAN
President of Rainbow Board of Directors

Mr. Sherman is the President and co-founder of The Reliant Group, a sophisticated team of investment and management specialists, focusing on tax-exempt finance, tax credits, construction and rehabilitation, and adaptive re-use projects. Mr. Sherman founded Rainbow in 2002. He has founded several other nonprofit housing organizations and serves on the Board of the Bay School in San Francisco, an independent high school focusing on science and technology.

GARY SILVERSMITH
Secretary and Chief Financial Officer of Rainbow Board of Directors

Mr. Silversmith has served since 1991, as President and owner of P&L Investments, an asset management, investment, and advisory company based in Washington, D.C. Mr. Silversmith has been at the forefront of The Brownfield movement, by remediating environmentally challenged properties throughout the country. Mr. Silversmith serves on the boards of numerous nonprofits, including The Boy Scouts of America, (the largest youth organization in the United States) and he is a Trustee of both National Jewish Hospital in Denver and Washington University in St Louis. He is also on the Advisory Board of the Georgetown University Law Center, where he graduated with two degrees.

JOSHUA ALLEN SR.
Director

Mr. Allen is the President of J. Allen Management Company, a fully integrated management firm operating in Texas and Louisiana that specializes in managing troubled multifamily properties, especially affordable housing communities. Mr. Allen was recently selected to be the President of the Texas Apartment Association, where he is the first African American to hold that position.

K. NICOLE ASARCH
Director

Ms. Asarch is the President of the Texas Affiliation of Affordable Housing Providers an organization which is instrumental to housing policy and legislation in Texas. Prior to joining TAAHP Ms. Asarch was an Executive Vice President for R4 Capital responsible for building and managing a few acquisitions team focused on the southwest and mountain states. She joined CREA in October, 2010 as a Senior Vice-President joined and was responsible for identifying and evaluating potential investment opportunities in affordable housing properties located throughout the United States. Ms. Flores also served for seven years as a senior vice-president of originations with a national banking institution, and focused on originating equity and debt finance opportunities throughout a seven-state region comprised largely of the Southwestern United States, from Mississippi across to Arizona. Before joining the syndication and finance side of the affordable housing business in 2003, she was instrumental in the development and construction oversight of approximately 2,500 apartment units located throughout major metropolitan areas in Texas and the greater Denver, Colorado area. Duties included all aspects of land negotiation and acquisition, project design, budget development, scheduling and finance packaging. Various finance techniques were utilized alone or in combination for successful developments including federal mortgage insurance programs, tax-exempt bond financing, low-income housing tax credits (LIHTC) as well as conventional financing. Ms. Flores received her Bachelor of Arts degree from California State University at Fullerton.

HUGH COBB
Director

Mr. Cobb is a Principal and Owner of Alpha-Barnes Real Estate Services. The ABRES management portfolio consist of over 20,000 multifamily conventional, affordable, and senior-independent units. Mr. Cobb has over 30 years of real estate experience and has held executive positions with such notable companies as The Trammell Crow Company and Integrity Properties. He earned a Bachelor’s of Business Administration from Texas Wesleyan University, and achieved the Certified Property Manager® designation. Mr. Cobb has served as a board member of several non-profit organizations, focused to help those less fortunate. He is the past President of the Apartment Association of Greater Dallas. An active National Apartment Association Delegate, he presently serves as Secretary of the Texas Apartment Association, as he enjoys being an advocate for the housing industry at the State and Federal level.

DONNA JONES DALEY
Director

As a Global Executive Coach, Donna Daley assists clients in developing awareness of their strengths and development areas so that they may contribute sustainable and measurable value in their organizations. Ms. Daley, who is Managing Partner of Noble Resource Associates, LLC, employs a coaching approach that allows professionals to frame today’s business challenges as opportunities to achieve unparalleled growth in their careers. Trained as a corporate tax attorney and business adviser early in her professional career, Ms. Daley is a teacher and an entrepreneur at heart.

RAYNOLD RICHARDSON
Director

Raynold Richardson formerly worked with the U.S. Department of Housing and Urban Development (HUD) in several positions and is J. Allen Management’s multifamily expert. Raynold was the Director, Fort Worth Asset Management Division, Southwest Multifamily Regional Center for HUD over a five-state jurisdiction with six offices and managed an unpaid principle balance of $10 billion which consisted of 3,484 developments. Raynold was the Director, Multifamily Housing Program Center, Houston and managed both development and asset management programs including underwriting, asset management, and preservation activities for the assigned 35-county jurisdiction in East and Southeast Texas. The Houston Program Center closed 374 insured loans (i.e., 221d4, 221d3, 223f, 241, 231, 232, 242, some inclusive of LIHTC, HOME, CDBG and Historical Tax Credit dollars), resulting in a total mortgage amount of $2,751,330,500 and 65,622 total units. The Program Center initially/finally endorsed 34 Section 202/811 developments totaling 1570 units in the amount of $111,751,880. Raynold was also the Director, Office of Public and Indian Housing, Houston, managing all Public Housing programs including the Section 8 Housing Voucher, Certificate and Moderate Rehabilitation Programs; Capital Fund Programs (HOPE 6, development, modernization, and HQS compliance), Management Assessment Programs; Operating Fund programs; resident self-sufficiency and economic independence programs. In addition, as a former Chief of Asset Management, Multifamily Housing, Project Manager and Occupancy Specialist, his in-depth knowledge of HUD/FHA policy, production, asset management, public housing and community & planning development programs make him a key component of the J. Allen Management’s successful client and government relationships.

KEITH B. ROSENTHAL
Director

Mr. Rosenthal is the Co-Founder and President of Phoenix Realty Group (PRG), where he oversees strategic planning and implementation, and new business development. Prior to forming PRG, Mr. Rosenthal had extensive experience with tax credit syndication, and created a tax exempt bond conduit program and formed significant joint venture relationships with community-based development organizations. Mr. Rosenthal has been an adjunct professor at the Real Estate Institute of New York University, a board member of the Affordable Housing Tax Credit Coalition, and the National Housing and Rehabilitation Association.

SHEILA D. HARRIS
Director

Dr. Harris has been involved in the development of affordable housing for over 30 years. She has taken a multi-disciplinary approach to her work and as a result has amassed significant knowledge and experience in the field.

Her employment career includes serving two Arizona Governors. She is the founding Director of the Arizona Department of Housing and Arizona Housing Finance Authority. During her nearly six-year tenure in those positions, she oversaw the financing of more than $1.5B in housing and community economic development.

In addition to her public service and work experience, Dr. Harris received her doctorate in Public Administration from Arizona State University. Her dissertation focused on the creation of affordable housing. She holds a Master’s degree from the University of Kansas and a Bachelor’s degree from Ottawa University.

Dr. Harris has been very active in the community and has served on numerous boards and commissions including 12 years as a publicly elected school board member, former President of the Phoenix Chapter, and current Treasurer of Lambda Alpha International Honorary Society, and is a member of the Board of Stewards of the Frank Lloyd Wright Foundation. She was appointed by then Chairman Greenspan as a member of the Federal Reserve Bank of San Francisco where she served for six years (1999-2004) and served at Deputy Chair of the board for nearly two years. Dr. Harris was the first Arizonan to be chosen to serve on the head office board.

In 2011, she established Sheila D Harris Consulting Services and in that capacity she shares her expertise in housing and economic development activities. Activities include acquisition, rehabilitation, and development of multifamily and single-family developments, as well as consulting services for private sector, local, county, state and federal governments, and tribal entities.