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Our Team: Low-Income Housing Tax Credits

Our Team: Low-Income Housing Tax Credits

Dedicated to helping provide safe and affordable housing.

The Low-Income Housing Tax Credit (LIHTC) program is the leading affordable rental-housing program in the country. With more than $5.6 billion of equity committed as of December 31, 2013, our team understands the complexities involved in LIHTC financing and works closely with project sponsors and state housing agencies to structure attractive investment packages that help bring affordable housing to underserved areas.


Beth Stohr Director of Low-Income Housing Tax Credit Investments

Beth Stohr
Director of Low-Income Housing Tax Credit Investments

Beth Stohr manages the LIHTC production staff. Beth has worked in real estate finance since 1982 and joined USBCDC in 1997. Prior to joining U.S. Bank, she managed the acquisitions of affordable housing investments for Boatmen's Bank (now Bank of America). Her experience includes loan production and management of commercial real estate portfolios for Continental Bank – Chicago (now Bank of America), Boatmen’s Bank – St. Louis (now Bank of America) and Mercantile Bank – St. Louis (now U.S. Bank). She also worked in production for a Fannie Mae-delegated underwriting and servicing lending entity. Beth served as the 2008 President of the Affordable Housing Investors Council and currently serves on its board. She also serves on the board of the Affordable Housing Tax Credit Coalition and on the board of the Regional Housing and Community Development Alliance, a St. Louis nonprofit affordable housing developer. Beth holds a master's in management from Kellogg School of Management, Northwestern University.


Vihar Sheth Senior Business Development MN, MO (St. Louis), ND, NE, OH, OR, SD

Vihar Sheth
Senior Business Development
MN, MO (St. Louis), ND, OR, SD

Vihar Sheth is a senior vice president for USBCDC. He joined USBCDC in 2003 and spent his first four years underwriting and closing affordable housing transactions. Since 2008, he has been responsible for the origination of LIHTC investments and now covers a seven-state region, primarily in the upper Midwest. Prior to joining USBCDC, Vihar worked in the financial services industry and for an urban redevelopment nonprofit. He holds an MBA from Washington University in St. Louis and a BS in industrial engineering and management sciences from Northwestern University. He is a board member of the St. Louis Equity Fund.


Lynn Craghead Business Development AR, CO, IA, KS, MO, WI

Lynn Craghead
Business Development
AR, CO, IA, KS, MO, NE, OK, TN, WI

Lynn Craghead has been with USBCDC since 1998. She is primarily responsible for identifying direct investment opportunities that generate LIHTCs in the Midwest markets. Previous professional experience includes six years with Deloitte and Touche as an audit supervisor and eight years with the Missouri Housing Development Commission. Lynn holds a BA in business administration from the University of Missouri-Columbia and is a certified public accountant.


Sebastian Glowacki Business Development CA, ID, MI, MT, NV, UT, WA, WY

Sebastian Glowacki
Business Development
CA, ID, MI, MT, NV, UT, WA, WY

Sebastian Glowacki originates investments for the LIHTC team in the western United States. Sebastian began his career with USBCDC in 2005, underwriting and structuring LIHTC and Historic Tax Credit (HTC) transactions as a project manager prior to joining the business development team. Previously, Sebastian worked as a project manager for the Paramount Financial Group and has also been a financial analyst for AIMCO. He holds a BS in finance from Oakland University of Rochester Hills, MI.


Kyle Kochtanek Business Development

Kyle Kochtanek
Business Development

Kyle Kochtanek is responsible for modeling and analyzing potential LIHTC projects for the business development group. Prior to joining USBCDC in 2011, Kyle worked at JES Holdings, a private LIHTC developer and syndicator, for 4 years as an asset manager in the tax credit syndication division, during which time he oversaw more than 3,000 LIHTC units in the state of Missouri. Kyle holds a degree in finance and banking with an emphasis in real estate from the University of Missouri – Columbia, where he served on the College of Business Leadership Board. He is also a young leader member of the Urban Land Institute and holds a real estate license.


John Lisella Business Development AL, DC, DE, FL, IN, LA, MA, MD, NC, PA, SC, VA

John Lisella
Business Development
AL, DC, DE, FL, GA, IN, LA, MA, MD, NC, PA, SC, VA

Since joining the affordable housing industry in 1997, John Lisella has helped originate and close more than $700 million in LIHTC transactions nationwide. He specializes in analyzing and arranging transactions that use LIHTCs, HTCs and various debt products, and is responsible for originating and structuring tax credit investments in the Southeast, parts of the Midwest and along the East Coast. Prior to joining USBCDC, John was the vice president of acquisitions for SunAmerica Affordable Housing Partners. He also worked for a California-based multi-family housing investor/owners and a Virginia-based affordable housing developer. He holds a BS in finance from Virginia Tech.


Rob Wasserman Business Development AZ, IL, KY, NM, TN, TX

Rob Wasserman
Business Development
AZ, IL, KY, NM, OH, TX

Rob Wasserman originates investments for the LIHTC team in new markets. Prior to his current role, he served as our managing director of tax credit syndications and also managed USBCDC’s West Coast office for originations and acquisitions for New Markets and Renewable Energy Tax Credit investments. Rob began his career acquiring, underwriting, closing and syndicating LIHTC and HTC transactions for national tax credit syndicators. He holds a JD from the University of California–Los Angeles School of Law and an MBA from the Anderson School of Business at University of California–Los Angeles. Rob is active in charter school development and sits on the board of KIPP St. Louis.


Dave Puricelli Director of Project Management

Dave Puricelli
Director of Project Management

Dave Puricelli joined our team in 2013 and is responsible for overseeing the underwriting and closing team that specializes in direct and fund LIHTC investments. Dave began his career in real estate construction lending at Boatmen’s Bank, transitioned to originating and managing commercial and industrial lending at Mark Twain and later Heartland Bank, and spent ten years with Bank of America, initially managing their St. Louis-based community development lending team and later originating New Markets Tax Credit and Historic Tax Credit investments. Most recently, he served as a senior vice president at Gardner Capital, an affordable housing developer and tax credit syndicator based in Missouri, where, among other responsibilities, he originated and underwrote state LIHTC investments. Born and raised in St. Louis, he holds a Masters in Finance from the University of Chicago and a BA in Structural/Civil Engineering from Northwestern University.


Kacey Cordes Assistant Director of Project Management

Kacey Cordes
Assistant Director of Project Management


Jeanne Gieseke Assistant Director of Project Management

Jeanne Gieseke
Assistant Director of Project Management


Joe Manning Assistant Director of Project Management

Joe Manning
Assistant Director of Project Management


Suzanne Furay Senior Project Management

Suzanne Furay
Senior Project Management


Paul Olsen Project Management

Paul Olsen
Senior Project Management


Mike Walker Project Management

Mike Walker
Senior Project Management


JeriLynn Young Senior Project Management

JeriLynn Young
Senior Project Management


Rebecca Applegate Rebecca Applegate

Rebecca Applegate
Project Management


Kelly Berg Project Management

Kelly Berg
Project Management


Bob Dumstorff Financial Accountant

Bob Dumstorff
Financial Accountant


Chris Duncan Project Management

Chris Duncan
Project Management


Joe Fusco Project Management

Joe Fusco
Project Management


Jennifer Kelly-Saeger Project Management

Jennifer Kelly-Saeger
Project Management


Abhisek Mitra Project Management

Abhisek Mitra
Project Management


Joel Oliver Project Management

Joel Oliver
Project Management

The Basics of LIHTCs

LIHTCs help fund affordable rental housing for people facing financial challenges in urban and rural areas. Here's how they work.

Dedicated Asset Managers

Our experienced asset management team works closely with general partners to ensure the long-term success of our affordable housing developments.

Portfolio Highlights

We have a strong track record of investing in the rehabilitation and construction of affordable low-income rental housing.

Equal Housing Lender Equal Housing Lender

U.S. Bank and its representatives do not provide tax or legal advice. Each tax and financial situation is unique. Consult your tax and/or legal advisor for advice and information concerning a particular situation.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates and third parties.

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