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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 $5.8 billion of equity committed as of June 30, 2014, 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 IA, MN, MO, ND, NE, OH, SD,WI

Vihar Sheth
Director of Business Development
IA, MN, MO, ND, NE, SD, WI

Vihar Sheth is the director of business development for affordable housing investments at USBCDC, managing a team of seven professionals responsible for the origination of LIHTC projects. Vihar joined USBCDC in 2003 and spent his first four years as a project manager underwriting and closing affordable housing transactions. In 2008, he became a business development officer and was responsible for the origination of LIHTC investments in a seven-state region, primarily in the upper Midwest. In 2013, Vihar became the director of business development. 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 and an active member of the low-income housing tax credit community.


Sebastian Glowacki Business Development CA, MI,

Sebastian Glowacki
Business Development Officer
CA, MI

Sebastian Glowacki originates investments for the LIHTC team in California and Michigan. 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.


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

John Lisella
Business Development Officer
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 AR, AZ, IL, KY, NM, OK, TN, TX

Rob Wasserman
Business Development Officer
AR, AZ, IL, KS, KY, NM, OH, OK, TN, 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 Tax Credits (NMTCs) 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.


Lynn Craghead Senior Business Development Associate

Lynn Craghead
Senior Business Development Associate

Lynn Craghead has been with USBCDC since 1998. She is responsible for identifying direct investment opportunities that generate LIHTCs in the Midwest markets as well as underwriting and closing transactions. 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.


Ann Melone

Ann Melone
Senior Business Development Associate
CO, ID, MT, NV, OR, UT, WA, WY

Ann Melone is responsible for originating LIHTC investment opportunities in the Northwest. She has been with U.S. Bank since 2005, most recently serving as a relationship manager in the bank’s Commercial Real Estate division where she originated, underwrote and managed a more than $250 million affordable housing portfolio. Prior to joining U.S. Bank and USBCDC, she originated domestic and international syndicated debt transactions with Scotiabank Global Banking and Markets, formerly known as Scotia Capital. Ann also worked in philanthropy and grant making in the Pacific Northwest, and completed a two year tour as a VISTA Volunteer centered on financial literacy for youth. Ann serves on the board of directors for the Housing Development Consortium of King County and is the secretary of her home owners association. She holds an MBA from the Michael G. Foster School of Business at the University of Washington and a BA from Washington University in St. Louis.


Kyle Kochtanek Business Development Associate

Kyle Kochtanek
Business Development Associate

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.


Nate Wamser

Nate Wamser
Business Development Associate

Nate Wamser is responsible for modeling and analyzing potential LIHTC projects for the business development group. Nate joined USBCDC in 2012 as a portfolio servicing analyst, coordinating reporting requirements and analysis. Nate has more than seven years of property management and real estate appraisal, investment and brokerage experience and is licensed to sell real estate in the state of Missouri. He holds an MBA and a degree in finance and banking with an emphasis in real estate from the University of Missouri – Columbia.


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 NMTC and HTC 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 Mahrt Assistant Director of Project Management

Kacey (Cordes) Mahrt
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
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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