BOARD OF DIRECTORS

Retiring from finance in late 2017 as a partner in a nationwide investment banking firm, Ms. Asarch immediately found herself serving both as Board Chair and Interim Executive Director for the Texas Affiliation of Affordable Housing Providers (TAAHP) for the next year to helm this important advocacy organization through an overall change in leadership. After 16 years of also serving in various capacities on the TAAHP Board, including 11 years as Chair of the Texas Housing Conference, Ms. Asarch stepped away from TAAHP as well in late 2018 to pursue other endeavors. Now involved in work on a range of political issues, including affordable housing advocacy while overseeing companies in the U.S. and South America, Ms. Asarch continues to build on past success in real estate development via her expansion of holdings for Rock Real Estate, LLC, and Rock Real Estate SAS, created in 2014 and 2018, respectively.

Hugh earned a Bachelor of Business Administration (Dean’s List) from Texas Wesleyan University. After graduating, Hugh was appointed by President Reagan to serve as Congressional Liaison for The White House in Washington D.C. Hugh is the former President of the Apartment Association of Greater Dallas (AAGD) and serves on the Executive Committee of the Texas Apartment Association (TAA). He has been recognized by the Institute of Real Estate Management as a Certified Property Manager. On a federal level, Hugh lobbies on behalf of issues important to real estate investment, development, and housing affordability, in addition to serving several nonprofit organizations in board and advisory capacities.

division of Denver-based Simpson Housing Limited Partnership. Sheppard has overseen the acquisition and development of more than 3,100 units of affordable housing, over 3,300 units of market-rate housing, approximately 230,000 square feet of office, and over 500 stalls of structured parking. His geographical focus area includes most of the Western states: California, Oregon, Washington, Nevada, Arizona, Utah, Idaho and Colorado. Mr. Sheppard directs all day-to-day activities and responsibilities. He is a frequently invited speaker at industry related conferences nationwide.

Sheppard started at SHS’ predecessor firm in 1995 as a project manager, helped build the firm’s tax credit development, acquisition and syndication business into a nationally known operation as well as a major profit center within the company. During his tenure, he was directly involved in more than 250 separate multifamily and senior housing developments representing some 23,850 units nationwide. He was responsible for the development, acquisition and resale of $1.475 billion in federal low-income housing tax credits and other types of federal and state tax credits, as well as, securing more than $500 million in both construction and permanent financing. His experience extends across the entire affordable housing development spectrum and includes land acquisition and entitlement; coordinating design and engineering consultants; obtaining project approvals; securing tax credit reservations and tax-exempt bond allocations; permitting; obtaining construction financing; supervising construction and construction management personnel; permanent financing; asset management; tax credit syndication; investor relations; and joint ventures. Sheppard served as director of tax credits for ARV Assisted Living, Inc., a Costa Mesa, California-based developer and syndicator of multifamily and senior housing projects. Prior to joining ARV, he was a senior staff tax accountant with Novogradac, Fortenbach & Co., specializing in tax credit financing. While there, he edited the second and third editions of the firm’s Low-Income Housing Tax Credit Handbook, and was managing editor of the LIHTC Monthly Report, a nationally distributed publication. He earned his bachelor’s degree in business with an emphasis in accounting from Colorado State University.

For more than 30 years, Cynthia has helped for-profit and nonprofit developers, along with investors and governmental entities, to develop, acquire, construct, finance, operate, and preserve housing in Texas and other locations across the country. Throughout her career, Cynthia has worked with thousands of properties utilizing financing tools such as housing tax credits; tax-exempt bonds; HUD programs; other federal, state, and local programs; and private equity. She is a creative problem-solver for complex transactions.

Ms. Bast’s passion for affordable housing makes her a prominent advocate at the public policy level. She represents clients before the Texas Department of Housing and Community Affairs in regulatory matters and works with the Texas Legislature for consideration of the special needs of the industry. Cynthia is a frequent speaker and teacher on affordable housing matters and has been addressing the preservation of existing affordable housing stock in recent years.

serving as a key advisor to developers, investors, and financial institutions. His career spans senior roles at Boston Capital and Lument, where he led the origination and management of LIHTC transactions across multiple U.S. regions, oversaw comprehensive financial and credit analyses, and guided projects from early feasibility through closing.

Mr. Dixon’s expertise aligns closely with the core competencies required for federal LIHTC originations, including cultivating developer relationships, evaluating investment opportunities, understanding partnership structures, and staying abreast of market and regulatory developments. In addition to his professional accomplishments, he has been an active industry leader, holding Board or advisory positions with the California Housing Consortium, Texas Association for Affordable Housing Providers, New York State Association for Affordable Housing, Rainbow Housing Assistance Corporation, Lakeview Community Capital, and the Novogradac Journal of Tax Credit Developments. 

development experience principally centered on affordable housing, tax-oriented investments, and economic development. Prior to joining Tidwell Group, Gormley was director of multifamily housing and real estate finance at Adolfson & Peterson Construction and also worked as VP with JP Morgan Chase, N.A., where he was responsible for community development lending and client relationships in southwestern states. Mr. Gormley has successfully provided multi-level oversight on the development and initial operation on more than 6,000 units of multifamily and single-family affordable housing. He holds a BA from the University of Phoenix and served in the United States Marine Corps. He is based in Austin, TX.

Mr. Kirby has earned widespread recognition and numerous awards throughout his career, including the Louisiana Governor’s Technology Award, Titan Entrepreneur Award, and Noble Award, highlighting his outstanding contributions to the tech industry.

In addition to serving on the Board of Advisors of Rainbow, Mr. Kirby is the Chair of Technology Initiatives for the Multifamily Innovation Advisory Council, an executive-level organization representing millions of multifamily units, where he helps owners and operators explore forward-thinking solutions which drive industry-wide transformation.

in housing finance,Mr. Nichol has active interests in housing policy and education. He is a member of the Affordable and Workforce Housing Council for the Urban Land Institute and has served as a lecturer within the Master of Real Estate Development +Design (MRED+D) program at the University of California, Berkeley.

He specializes in the real estate sector across the United States, with a focus on affordable housing, conventional real estate, and not-for-profit industries. He is a leader and Board member for many state and national affordable housing organizations.

Chris has significant experience in federal and state compliance with partnership tax allocation requirements, tax planning, and tax compliance for partnerships and corporations, with a focus on low-income housing tax credit projects and real estate developers. He has a strong focus and active role in the firm's tax-incentivized and commercial real estate practices.

award-winning Resident Services Division of Rainbow and the asset management for an extensive affordable housing portfolio. Before joining Rainbow, Ms. Skeen served as Director of Property Management at Community Services of Arizona, a fully integrated management company specializing in the management of multifamily, service-enriched affordable housing. Ms. Skeen has extensive experience in managing market rate (REIT), Section 42 Tax Credit, Project Section 8, and HUD and RD-financed housing communities. As an Advisory Board member for Novogradac’s Journal of Tax Credits, Ms. Skeen is honored to provide industry knowledge through publications reaching over 45,000 readers and to serve as a judge for their industry Development of Distinction Awards at the Tax Credit Developers Conference recognizing excellence and ingenuity in the development of tax credit projects across the country utilizing the LIHTC program. With 35+ years of experience in asset management with an emphasis on the development and implementation of social service programs for service-enriched affordable housing, she has assembled a team of professionals to serve the mission of Rainbow with integrity and passion. 

original design, planning, and reconstruction of the historic Monroe School building into what is now the Children’s Museum of Phoenix. After their grand opening, she continued her duties of staffing, training, and managing the day-to-day operations of the Museum for over two years. Ms. Walsh was also instrumental in the annual and ongoing fundraisers for the museum. With over 10 years working with low-income individuals and families, her experiences have proven invaluable to Rainbow, as her duties serve the area of resource center development and program delivery.

In 2008, Mr. Lis was recruited to CohnReznick to lead the Business Development efforts for the Affordable Housing Industry. There, he worked with for-profit and nonprofit developers, investors, owners, and property managers of Affordable and Supportive Housing.  His advice is sought after as a valued resource in Low-Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC), and New Markets Tax Credits (NMTC). At Rainbow, Mr. Lis is a strategic member of the leadership team and is continually working within the same vertical where he has built his reputation.

In his spare time, you will find Mr. Lis working on classic cars and hiking/backpacking in our many state and national parks.

innovation, marking him as a seasoned professional in his field.

Mr. Taylor’s passion extends far beyond his corporate achievements. Rooted in his upbringing and nurtured by his experiences, he has a deep-seated desire to make a meaningful impact in the lives of those in underserved communities. As a product of the Boys and Girls Club of America, he understands the profound influence that mentorship and support can have on young minds, and he strives to pay it forward every day.

As our National Director of IT and Integrated Data Solutions, Mr. Taylor brings not only a wealth of technical expertise, but also a profound dedication to empowering individuals and communities through technology.

resource utilization, and strengthen the organization’s mission of delivering service-enriched housing programs nationwide.

He holds a Bachelor of Science in Computer Information Systems from Arizona State University’s (ASU) W. P. Carey School of Business and is currently pursuing a Master of Science in Artificial Intelligence in Business at ASU. He brings to his role a strong technical foundation, complemented by professional certifications in Microsoft Power Platforms and deep expertise in automation platforms, cloud technologies such as Azure, database management with SQL and MySQL, Robotic Process Automation (RPA), CI/CD and DevOps integration, and Microsoft 365 integration.

His technical skill set includes advanced data manipulation and analysis techniques in Power-BI, programming experience in Python and Java, and a solid understanding of system integration patterns which enable seamless data interoperability. Additionally, Mr. Sohrabi applies AI and machine learning techniques to automation initiatives and leverages Lean and Six Sigma principles to drive continuous improvement and operational excellence.

Prior to joining Rainbow, he built a reputation in the fields of application support, healthcare IT, and data analysis, where he was recognized for his creative problem-solving abilities, strong analytical skills, and commitment to delivering high-impact, technology-driven solutions. His multicultural background and fluency in English, Dari, Pashto, Persian, and Urdu enhance his ability to collaborate across diverse teams and effectively serve a wide range of stakeholders.

Outside of his professional role, Mr. Sohrabi is passionate about continuous learning and enjoys working on innovative projects which bridge emerging technologies with real-world applications. His approach embodies Rainbow’s core values of excellence, service, and community impact.

capital solutions through an agency lending platform for multifamily housing nationwide. In 2012, Ms. Adams transitioned to the development and preservation of affordable housing across the southeast, leveraging 9% tax credits, 4% tax-exempt bonds, state incentives, private equity, and partnerships with nonprofit organizations. By partnering with local organizations, she provided avenues to reduce barriers for residents to access much needed social services.

organizing events, programs, and meetings; and helping support teachers in achieving educational objectives. With Rainbow, she excelled at helping individuals and families in communities all over the United States and was promoted to Call Center Manager and Benefits Coordinator. She led the management of the team’s inbound and outbound calls and oversaw data collection in the call center. This is where they identify residents’ needs, clarify information, research every issue, and provide resources, solutions, and/or alternatives to overcome barriers to self-sufficiency. Under her leadership in the National Call center, residents were met with a compassionate team who were dedicated to ensuring confidentiality, support, encouragement, and a pathway to opportunities to advance life skills, education, employment and share our mission to deliver value-based programs and services while building relationships and engaging residents. Ms. Gutierrez Verduzco further supported the management of benefit coordination which supported and assisted residents with enrollment in benefit programs such as health insurance and retirement savings. She served as a liaison with insurance and savings providers on behalf of residents. Ms. Gutierrez Verduzco has since accepted the position to expand our National Referral division.