Meet the Team

JOSEPH L. SHERMAN

President

Joseph L. Sherman is the President and co-founder of The Reliant Group. He is the co-owner and founder of Reliant Group Management and Reliant Property Management. Mr. Sherman directs capital formation and acquisitions, employing a hands-on approach with each investment to ensure successful execution. He specializes

in acquiring real estate assets with complicated, multifaceted issues, including remediation, repositioning, renovation, and new construction.

Mr. Sherman began his career as a real estate attorney in Washington, D.C., representing affordable and market rate multifamily housing developers nationwide. Mr. Sherman’s primary practice area was affordable housing, particularly in conjunction with HUD Section 8 rental assistance and FHA financing. He also developed an expertise in alternative energy and energy efficiency, representing utilities and entrepreneurs, as well as writing several publications on solar energy, alternative energy, and energy conservation for the U.S. Department of Energy.

In 1985, Mr. Sherman joined Oxford Development Company, the country’s second largest developer of multifamily housing, to develop bond-financed mixed-income properties. During Mr. Sherman’s tenure, Oxford was the single largest developer user of tax-exempt financing for affordable multifamily properties in the United States. While at Oxford, Mr. Sherman honed his skills in underwriting, finance, and placement of tax-exempt bonds, backed by multifamily assets.

Mr. Sherman founded The Reliant Group in 1992, to serve as a general partner in a partnership with The Resolution Trust Corporation, as part of a national effort to resolve the nation’s savings and loan crisis. Over the next five years, The Reliant Group acquired over $750 MM of sub performing and non-performing loans with the RTC, earning national recognition as one of the best performing partners in RTC’s joint venture programs. An additional $550 MM of distressed assets were acquired from private sellers. In 2001, Mr. Sherman shifted The Reliant Group’s focus to the acquisition and development of bond-financed affordable housing, launching the CAP series of investment funds. Since 2001, the CAP series of discretionary funds have invested over $500 MM of equity in over $2 billion of multifamily assets, including senior housing, student housing, market-rate housing, and affordable housing. Over 22,000 units of housing have been acquired and/or developed by Reliant Group Management, including over 50 LIHTC communities in a dozen states.

Mr. Sherman served as Chairman of the Real Estate Capital Recovery Association and as Executive Director and President of Equality Community Housing Corporation, a nonprofit owner of affordable housing. He currently serves as President of Rainbow Housing Assistance Corporation (Rainbow), a nonprofit owner of low- and moderate-income housing, which he founded in 2002. Rainbow currently serves over 100 low-income communities nationwide, meeting the needs of a diverse low-income tenant population with a variety of programs which stimulate neighborhood revitalization and help residents achieve self sufficiency. Mr. Sherman is also President of the Board of Texas Council of Foundation for Social Resources, a nonprofit owner of over 20 LIHTC communities. He was a founder and trustee of The Bay School, a science and technology high school, located in San Francisco, serving for over 10 years. He is currently on the Board of Trustees of San Francisco Jazz, the first free-standing jazz concert venue in the U.S. He has been a guest lecturer on housing issues at Harvard and UC Berkeley.

Mr. Sherman earned his BA from Bowdoin College magna cum laude and his JD from Georgetown University Law Center. He resides in San Francisco.

GARY SILVERSMITH

Secretary and Chief Financial Officer

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.

JOSHUA ALLEN SR.

Director

Mr. Allen is the President of J. Allen Management Company, a fully integrated management firm operating in Texas and New Mexico which specializes in affordable multifamily properties. He has over 40 years of experience in all types of multifamily apartment properties. As the President of J. Allen Management, he is

K. NICOLE ASARCH

Director

After a 25-year career in the affordable housing industry, which encompassed both management, development, and ownership of a large, multi-state portfolio along with 15 years as a senior executive in commercial real estate debt and equity financing nationwide, Ms. Asarch retired in late 2017 from investment banking to

HUGH COBB

Director

Mr. Cobb is a Principal at Asset Living and is responsible for overseeing the affordable division and assisting the multi-family division. In addition, he helps lead strategic new business initiatives. Hugh has over 30 years of real estate experience, spanning management, brokerage, lending, and investment. Throughout his career,

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

KIPLING S. SHEPPARD

Director

Kip Sheppard, President and CEO, Development and Construction Division of The Wasatch Group, is one of the affordable tax credit housing industries’ most respected leaders. Before joining The Wasatch Group, he served as Executive Vice President at Long Beach, California-based Simpson Housing Solutions LLC, then a

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.

MICHAEL A. COSTA

Director

Mr. Costa, President and Chief Executive Officer, is responsible for overseeing all activities at Highridge Costa Housing Companies, which include Highridge Costa Housing Partners LLC (“HCHP”) and Highridge Costa Investors LLC (“HCI”). The companies specialize in the development, financing, construction, and asset

management of affordable and mixed-income housing for families and seniors throughout the U.S., utilizing low-income housing tax credits, as well as other types of public and private financing. The companies were created in 2010 as a joint venture between Mr. Costa, President and Chief Executive Officer and founder of the Companies’ predecessor firms, and Highridge Partners, a diversified, privately held investment firm that has acquired, developed and/or financed assets totaling more than $7 billion. Over the past 17 years, Mr. Costa and his team, under the companies’ various identities, have been responsible for developing and growing a portfolio of approximately 27,000 housing units in more than 275 communities throughout the U.S. and Puerto Rico, all of which were financed using tax credits. Throughout a career spanning nearly 3 decades, Mr. Costa has supervised the development and financing of nearly 40,000 units of multifamily affordable and market-rate housing. Through his extensive utilization of both federal and various state tax credit programs over the years, Mr. Costa has gained a wealth of specialized knowledge of the intricacies of tax credit financing and syndication. He is considered an industry expert in tax credit-based asset management, including the myriad of compliance issues associated with managing tax credit properties. Mr. Costa was named the Freddie Mac Multifamily Builder of the Year in 2000 and the 1999 Builder of the Year by Multifamily Executive magazine. He is currently a member of the NAHB Multifamily Leadership Board, and also serves as Vice-Chairman of the Board of Directors of the Community Financial Resource Center for Los Angeles, one of California’s most active nonprofit CDFIs. He also holds the CAASH (Certified Active Adult Specialist in Housing) designation from the NAHB. Mr. Costa earned a Bachelor of Science degree in Engineering from California Polytechnic State University at San Luis Obispo, and also holds a general contractor’s license from the State of California.

CYNTHIA L. BAST, ESQ

Advisor

Cynthia Bast is nationally recognized as a preeminent lawyer in the area of affordable housing and community development finance and leads the Firm’s Affordable Housing Section. She calls upon her vast experience, including experience in the areas described below, as a frequent speaker at conferences across the country.

Ms. Bast has been named in The Best Lawyers in America for Real Estate Law and in Chambers USA for 2016-2021. She is also a member of the Firm’s Board of Directors and Managing Partner of the Firm’s Austin office.

Finance Transactions

Ms. Bast assists clients with complex affordable housing and community development transactions using a variety of financing tools, including housing tax credits (LIHTC), tax-exempt bonds, HUD programs, and other federal, state, and local resources. Throughout her career, she has worked on hundreds of transactions involving housing in Texas and other states. Her clients include for-profit and nonprofit developers, investors, and governmental agencies.

Governmental Advocacy

In addition to her transactional work, Cynthia Bast actively represents clients before relevant governmental authorities and advocates for affordable housing issues with the Texas Legislature. Much of her work in this area is devoted to helping clients with matters before the Texas Department of Housing and Community Affairs. In that capacity, she guides clients through critical appeals to the TDHCA Board and other administrative or compliance matters.

Year 15/Preservation

Qualified contracts, rights of first refusal and options intersect as owners and investors try to determine the best scenario for refinancing and restructuring their housing tax credit properties. Ms. Bast has a particular interest in the issues associated with the end of the housing tax credit compliance period and the preservation of affordable housing.

Workouts and Troubled Assets

When affordable housing properties become troubled, Cynthia Bast advises clients on creative solutions. Such solutions may include employing tax exemptions, restructuring existing financing, finding new soft financing, changing an ownership structure, or pursuing foreclosure. Whether the clients are owners, investors, or lenders, she brings an understanding of the complex regulatory overlay that is necessary to work out an affordable housing finance transaction.

Negotiating debt and equity financing documents for hundreds of housing tax credit transactions nationwide
Structuring and documenting complex transactions with multiple layers of financing, including HOME funds, CDBG funds, RAD, HOPE VI money, and other federal, state, and local sources
Representing buyers and sellers of affordable housing properties, before and after their compliance periods
Financing workforce housing without federal subsidy
Advocating for clients before the Texas Department of Housing and Community Affairs on critical matters involving housing tax credit applications, underwriting issues, and compliance matters for particular properties
Assisting clients with formulating strategies for work outs, including revision of existing financing agreements, identification of new financing, deed-in-lieu of foreclosure, foreclosure, general partner removal, and various kinds of settlements and releases
Assisting with creation and structuring of tax-exempt organizations doing affordable housing and community development work, ad valorem tax exemption, sales tax exemption, and CHDO certification

TOM DIXON

Advisor

Mr. Dixon is a director at Lument working in affordable housing production. Based in Charlotte, North Carolina, he is responsible for originating affordable multifamily loans nationwide; however, specifically specializes in tax-advantaged investments for multifamily housing. Previously, Mr. Dixon was

S. QUINN GORMLEY

Advisor

Mr. Gormley serves as Executive Vice-President of HTG America. The firm has appointed veteran developer Quinn Gormley to head its new national development division—HTG America. He most recently served as a partner in Tidwell Group’s Austin, TX office and has more than 20 years of commercial real estate

KERRY W. KIRBY

Advisor

Mr. Kirby is a global entrepreneur, technology innovator, and philanthropist. He is the founder and CEO of 365 Connect, the leader in delivering the world’s most sophisticated automated marketing, leasing, and resident engagement platform for multifamily communities across the globe. Over the last two decades, Kerry has

PETER NICHOL

Advisor

Mr. Nichol is currently a Managing Director at Grandbridge Real Estate Capital where he is a member of a multifamily finance practice with a focus on affordable and mixed-income housing. Prior to co-founding his current Agency-lending affordable housing division, he served in real estate development roles for The Reliant Group, Inc.,

CHRISTOPHER N. THOMAS

Advisor

Mr. Thomas is the Office Managing Partner at Tidwell Group’s Austin office. With over 20 years of public accounting experience, Chris is responsible for providing domestic tax, financial accounting, and tax consulting services to individuals, corporations, and partnerships in a multitude of industries.

REGINA SMITH ADAMS

Advisor

Regina Smith Adams is the Founder and Chief Executive Officer of Adams Smith and Associates, LLC (DBA Smith and Associates, LLC), located in Pflugerville, Texas. She provides Administrative Management Services, General Management Consulting Services, and Construction Project Management Services to include

ROLANDO GARZA

Advisor

Mr. Garza has more than 40 years of progressively responsible professional experience at various levels of state government. He has been instrumental in developing leadership training programs and delivering presentations and workshops on numerous management/leadership topics. Mr. Garza received his bachelor’s

FLYNANN JANISSE

Executive Director

Serving since 2007 as the Executive Director of Rainbow Housing Assistance Corporation (Rainbow), President and Executive Director of Equality Community Housing Corporation, and President and Chairman of the Board of Rainbow Housing Texas, Inc., Ms. Flynann Janisse (“Flyn”) supports the national operations of an

DAVID BURKLEY

Associate Director

As a native Houstonian, Mr. Burkley matriculated at the University of Houston where his major field of study was Political Science with a minor focus in Africana Studies. In conjunction with his position at Rainbow Housing Assistance Corporation (which began in 2015), for the last 10 years, he has served his community through spiritual

SHERI GARCIA

Director of Operations

Ms. Garcia has been working in the multifamily industry since 1998. Her career includes the asset management of over 4,000 units in multiple states. Her experience with low-income Bond, Section 8, LIHTC assets, and market-rate housing communities provides her with the knowledge and skills necessary to

JOEL TAYLOR

National Director of IT and Integrated Data Solutions

With over two decades of commitment to the realms of software development, Information Technology management, and data analysis, Joel Taylor stands as an esteemed leader in the world of technology. His journey through organizations such as Caterpillar and UPS has exemplified excellence and,

STEPHANIE J FOSTER

Executive Systems and Relations Director

Ms. Foster has led the administrative management of various multifamily real estate companies for over two decades. Her growing expertise in the organizational development of general partnership interests and the procurement of welfare and tax exemptions is a key element to the continued

DARREN LIS

Director of Business Development and Public Relations

Building relationships on character, integrity, and trust is the cornerstone of Mr. Lis’ career progression. He holds a degree in Finance and Accounting from Pace University in New York and is a member of the Alpha Chi Honor Society.

Mr. Lis’ successful career spans leadership roles in the areas of operations, finance, and sales.

SALLY ENTEMAN

Director of Administration

As a highly recognized judicial court clerk, Ms. Enteman is a 19-year veteran of the Maricopa County Superior Court (judicial branch) in and for the state of Arizona. She has served the criminal administration as a trainer and mentor to the judicial branch, courtroom clerks, the criminal bench, and collaboration of all justice

PATTI ADAMS

Mulitifamily Impact Manager

Ms. Patti Adams has been devoted to the financing and development of multifamily housing since 1999. She has a wealth of knowledge in affordable housing and community development. After graduating from Auburn University with a Bachelor of Science in Finance, she had a longstanding tenure with a commercial lender providing comprehensive

LYNN WALSH

National Director of Resident Services

Ms. Walsh holds a Bachelor’s in early childhood development and a Master’s in business management, both from Arizona State University. Before joining the team at Rainbow Housing Assistance Corporation in 2012, Ms. Walsh was Director of Operations and Facilities for the Children’s Museum of Phoenix. Her duties included the

MATT CURTIS

Director of Education Services

A native to southwest Michigan, Mr. Curtis holds a Bachelor of Secondary Education in Economics, History, and Geography from Western Michigan University. He has taught elementary, middle, and high school grades in public schools for over 10 years between Michigan and Arizona. While holding these

LEXI ROEMER

Resident Services Manager

Ms. Roemer grew up just outside of St. Louis, Missouri. She graduated from Southeast Missouri State University (SEMO) with her bachelor’s degree in social work. Ms. Roemer has always had a passion for helping people. She discovered her love for seniors during her time at SEMO. Post-graduation, she worked as the Director of Social Services

LALITA DIXON

National Employment and Vocational Skills Coordinator

Ms. Dixon has been a resident of Texas for over two decades where she has been an active leader in the community volunteering with local organizations. She is a Certified Peer Mentor and Recovery Coach with the Texas Certification Board of Addiction Professionals and a Board-Certified Counselor. Her experience as a

JESSICA GUTIERREZ VERDUZCO

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Lead Community Outreach / Benefits Coordinator

Before joining Rainbow as a National Call Center associate in 2018, Ms. Gutierrez Verduzco worked as an Instructional Assistant and Parent Volunteer Coordinator for an elementary school. Her duties included translating conversations during teachers’ conferences; helping her community with planning and

TYLER JACKSON

Regional Resident Services Manager

Before joining the Rainbow Resident Programs and Services Division as the Senior Resident Services Coordinator in 2008, Mr. Jackson served in the United States Marine Corps for seven years from which he was honorably discharged. Upon his release from the armed forces, Mr. Jackson went into the private sector where his talents

BARBARA JOHNSON

Regional Resident Services Manager

Ms. Johnson, a true native, was born and raised in Georgia. Over 40 years she has volunteered and worked in the Georgia counties of Cobb, Fulton, DeKalb, and the city of Atlanta, as well in the state of Maryland serving in an outreach capacity in communities. Before becoming a member of the Rainbow family in 2012, she worked with two

SABRINA HALSEY

Resident Services Portfolio Manager

Ms. Halsey grew up living in Long Beach, Santa Ana, and San Diego, California. She graduated from George Dewey High School at the U.S. Naval Base Subic Bay in the Philippines, where her dad worked for the Navy as a Department of Defense Civilian. After graduating, she served our country in the United States

TONITTA TOTTRESS

Resident Services Portfolio Manager

Ms. Tottress worked in a Tulsa community as a Rehabilitation Coach aiding senior citizens with various healthcare needs as well as providing entertainment for seniors which helped them to stay engaged in society, boosted their social interactions, and created an active lifestyle for their overall well-being. She has

SARAH SKEEN

Resident Services Portfolio Manager

As a competitive volleyball enthusiast, coach, make-up artist, owner of a local health supplement company, and mother of two boys, Ms. Skeen enjoys a very active lifestyle. She found her passion in Rainbow through volunteering in 2008 and then relocated to Michigan. She relocated back to Arizona and joined the Rainbow team

PATRICIA VILLEGAS

Lead Community Outreach Coordinator

Patricia Villegas is the daughter of Mexican immigrant parents who came to this country for a better future. Growing up was challenging, especially as the middle child of seven siblings. Her parents’ dream was for their children to reach a better education and a lifestyle than what they had. After high school,

GARRETT SKEEN

Training Manager

Garrett M. Skeen has been a member of the Rainbow team since 2018 supporting the advancements of the National Call Center and now as an emerging leader in resident services. With over nine years of experience in customer service and marketing within for-profit and not-for-profit organizations, he is a natural fit for our growing

VANESSA MURILLO

Education Services Coordinator

Ms. Murillo obtained her Bachelor’s in Social Work from Trinity Christian College and her Master’s from University of Illinois Chicago (UIC). She had an internship and was employed at New Moms, a nonprofit organization in Chicago, where she worked as a Support Employment Specialist Intern

CARISSA MARTINEZ

Project Manager

Carissa Martinez, originally from Southern California with over 20 years of experience as a manager and customer service professional, has been a member of the Rainbow team since 2017. With experience managing in various different fields of work such as real estate appraisal, home building and construction supply companies,

ALISON BRADLEY

Project Manager

Alison Bradley is a seasoned Project Manager in the multifamily industry with a track record of success in generating repeat business through effective account management and exceptional customer service. With over 20 years of experience in resident-centered community and team development, she

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