A New York State Certified Women Business Enterprise
Essex Associates (“Essex”) offers a full range of consulting services to the affordable housing industry to assist developers, property managers, and owners of affordable housing. We provide services for new construction and/or rehabilitation of existing properties.
Essex provides services throughout all the steps of the acquisition, finance, rehabilitation, and development process. Working with the owner/sponsor Essex has the capability to bring the project full circle. Some of our many services include:
Applications for financing, grants, and Low Income Housing Tax Credits to Federal, State and City Agencies
Financial feasibility studies and underwriting for the sale, acquisition and/or financing
HUD Section 202 Prepayment applications
HUD Section 8 HAP contract rent increase applications
HUD budget based rent increase applications
The principals of Essex have a broad range of experience and have provided services in both the private, public, and non-profit sector. We have worked with all Federal, State and City agencies. We have expertise in the structuring of both 4% and 9% low income tax credit financing through the use of tax exempt bonds or conventional financing. We understand the complicated financial structures of the affordable housing industry and know how to make a project financially feasible.
Gail Bressler is a MBA with over 20 years’ experience including Vice President of Multifamily Finance for the NYS Housing Finance Agency, also known as HCR (Homes and Community Renewal). In this capacity Ms. Bressler oversaw the entire financing process for hundreds of projects utilizing tax exempt bonds, 4% “as of right” Low Income Housing Tax Credits (“LIHTC”) and various other financing sources. Ms. Bressler is familiar with federal, state, and city programs available to affordable housing projects.
Kerrie Pearson is a CPA with over 20 years experience with all HUD related and low income housing tax credit matters. Ms Pearson prepares the financing applications to NYS Housing Finance Agency for tax exempt bond financing and 4% ”as of right” Low Income Housing Tax Credits as well as all applications for subsidy requests. In addition, Ms. Pearson prepares tax credit compliance reporting to all state and federal agencies, rent increase applications such as budget based rent increases, HAP Contract renewal applications, and preparation of Section 202 prepayment applications to HUD.
Geraldine McGann is a MBA with over 25 years experience in affordable housing including Regional Director of HUD’s New York office, and Director of Housing Development in HUD’s New Jersey office. Since founding Essex Ms. McGann has provided services for over 25 projects in diverse geographical locations throughout New York and New Jersey comprising over 2,000 affordable housing units.