NALHFA 2026 Schedule

Pre-Conference Registration

NALHFA University Presents: Low Income Housing Tax Credit (LIHTC) 101
(Pre-registration required)

Speakers: Tiffany Mobley, Partner (Novogradac) and Jimmy Pokorny, Principal (Novogradac)
A Low-Income Housing Tax Credit (LIHTC) 101 course provides an introduction to the LIHTC program, which encourages the development of affordable housing through federal tax credits. This course will teach the basics of the program, including the creation of projects, regulatory agreements, and how to manage compliance for tenants and properties.

NALHFA University Presents: Bonds for Beginners: Part 1
(Pre-registration required)

Instructors: Gloria Boyd, Executive Director (J.P. Morgan); Patricia Ho, Vice President (Caine Mitter); Kathryn Driver, Executive Director (Housing Finance Authority of Pinellas County, Florida); and William Wilcox, Tax-Exempt Bond Program Manager (San Francisco Mayor's Office of Housing and Community Development)
Do you need a refresher course in private activity bond issuance? If so, this session answers all your basic questions. Set in an instructional, yet interactive setting, discussions pinpoint all the fundamental concepts: the definition of a bond and its relationship to other financing instruments, measuring price, interest, and yield, how a public agency issues bonds, the key players, the key documents, and the flow of funds. Come prepared to work in a group.

NALHFA Board of Directors Meeting (By invite only)

NALHFA University Presents: Understanding Private Activity Bonds, Capital Stacks, Including the New 25% Test Rule
(Pre-registration required)

Instructors: Jack Ballou, Municipal Advisor (Caine Mitter), RJ McGrail, Senior Fellow and Director, Accelerating Community Investment (Lincoln Institute of Land Policy), and Michelle Pernicek, Partner (Kutak Rock LLP)
In this course, participants will learn that Private Activity Bonds (PABs) are tax-exempt bonds issued by government entities to fund projects for private entities that serve a public purpose, like affordable housing.

In addition, we will discuss the new 25% test, introduced by the One Big Beautiful Bill Act (OBBBA) in 2025, which drastically changes the requirements for financing projects with PABs, particularly for affordable housing developments, and its implications.

Lastly, the course will discuss the capital stack hierarchical structure of all capital invested in a project, illustrating the different layers of debt and equity with varying levels of risk, return, and repayment priority. The new 25% test affects how PABs are placed within the capital stack for certain developments.

NALHFA University Presents: Bonds for Beginners: Part II 
(Pre-registration required)

Instructors: Tinru Lin, SVP for Capital Markets (New York City HDC); Susan Jun, Managing Director (Raymond James); and David Wu, Assistant Vice President (Stifel)
This session builds on the basic concepts presented in Part 1. Discussions include credit enhancement, cash flow analysis, the role of the rating agencies, and disclosure in a bond transaction. After these two sessions, participants will understand the more complex areas of tax-exempt bond financing.

Offsite Networking Event

Join NALHFA at San Antonio's iconic Smoke Skybar for an incredible evening filled with networking and stunning city views!

Networking Event Sponsor:

Registration

Networking Breakfast

Come join your fellow conference attendees for a time to connect and network with housing finance professionals from all over the country. This is a great opportunity to have casual conversations, interact with conference sponsors, and share success stories and best practices.

Session Sponsor: 

8:00 am - 9:00 am 

Opening General Session

Session Sponsor:

9:00 am - 10:00 am 

General Session: The Four Ls of Leadership

Speaker: Michael J. Sorrell, ED. D., President (Paul Quinn College)
Leadership is always challenging, but it doesn’t need to be complicated, as Dr. Michael Sorrell points out. Regarded as a visionary leader and change agent, Dr. Sorrell, who is the president of Paul Quinn College, is widely respected in education and business circles for the manner in which he led the school from near-certain closure to becoming a leader among America’s Historically Black Colleges and Universities. As he shares in this talk, none of what has been accomplished during his tenure would have been possible without the “Four Ls of Leadership” that Dr. Sorrell holds near and dear:

1. Leave places better than you found them
2. Live a life that matters
3. Lead from wherever you are
4. Love something greater than yourself

Session Sponsors:

Networking Break

Break Sponsor:

Concurrent Sessions

Policy Track: A State of Play: Latest from Washington, D.C.

Moderator: Josh Brandwein, Director of Government Affairs (NALHFA)
Speaker: Xavier Arriaga, Policy Director (Enterprise Community Partners) and Megan Cheney, Senior Director of Policy & Research (NAAHL)
Our annual Washington Update at NALHFA's Annual Conference offers attendees a timely and in-depth look at the federal policy landscape impacting local HFAs. This session will feature key policy experts and advocates who will provide updates on current legislative and regulatory developments in Washington, D.C. Attendees will gain valuable insights into how these federal actions may shape local housing initiatives and funding opportunities, and how NALHFA is working to ensure the voice of local HFAs is heard on Capitol Hill.

Single Family Track: Strengthening Partnerships and Combating DPA Myths

Speaker: Sue Denihan, Vice President (eHousingPlus), Angel Romero, HFA Relationship Manager (Down Payment Resource), and Lauren Ruppel, Executive Director (Jefferson Parish Finance Authority)
Explore how Housing Finance Agencies (HFAs) can better connect with today’s borrowers, lenders, and community partners through more effective outreach, streamlined program design, and data-driven delivery. This session will highlight innovative engagement strategies, tools to improve borrower experience, and methods to ensure programs reach intended audiences with maximum impact.

Down Payment Assistance (DPA) programs are often misunderstood. This session cuts through the noise by addressing common misconceptions and equipping industry partners with clear, accurate information. Learn what HFAs wish lenders, realtors, and homebuyers understood about eligibility, layering, compliance, and the true value of DPA in expanding sustainable homeownership.

Multifamily Track: Recycled Bonds in a 25% Test World: Expanding Multifamily Resources

Speaker: Ben Killion, Executive Director – Public Financing Housing (Wells Fargo), Annie Lee, Director, Public Finance Investment Banking (BofA Securities), Tinru Lin, Senior Vice President of Capital Markets Group (NYCHDC), and Alex Zeltzer, Partner (Tuber Hudson)
As the affordable housing landscape evolves under new federal tax legislation, Housing Finance Agencies (HFAs) and their partners must rethink how they deploy tax-exempt bond capacity. This session explores how recycled bonds can be strategically leveraged within the constraints of the 25% Test, unlocking additional multifamily production and preservation opportunities without requiring a new volume cap.

Participants will gain a practical understanding of the rules, timing requirements, and structuring considerations that govern recycled bonds, along with actionable strategies for organizations of all sizes.

Annual Business Meeting and Award Luncheon

The NALHFA Award of Excellence is the most prestigious national recognition award in the local affordable housing finance community. The award recognizes the critical work that NALHFA members do in their local communities to provide affordable housing. Join us as we celebrate this year’s award honorees.

Session Sponsor:

Networking Break

Concurrent Sessions

Policy Track: Building Community Support for Housing Finance and Development

Gaining community support is often one of the most challenging aspects of advancing new housing development. This session will explore strategies for engaging residents early, addressing common concerns, and building trust with local stakeholders to move projects from opposition to support. Panelists will discuss effective approaches for communicating the benefits of affordable housing, forming productive partnerships with developers, and working collaboratively with community members to ensure developments reflect local needs and priorities.

Single Family Track: The Future of HFA Lending: Blending Traditional Bond Structures with the TBA Market

Speaker: Helen Hough Feinberg, Managing Director (RBC Capital Markets), Kathryn Driver, Executive Director (HFA of Pinellas County, Florida), Tim Wranovix, Director (Raymond James)
As Housing Finance Agencies (HFAs) navigate a higher-rate, purchase-driven market, the choice between traditional bond financing and TBA execution has become increasingly strategic. Each approach offers distinct advantages—shaping how agencies deliver affordability, scale production, and respond to market dynamics.

This session will explore how tax-exempt bond structures continue to provide deep, mission-driven impact by enabling lower rates and targeted assistance for income-qualified borrowers. At the same time, the TBA (To-Be-Announced) market, driven by agency securities from Fannie Mae, Freddie Mac, and Ginnie Mae, offers unmatched liquidity, flexibility, and speed—allowing HFAs to scale programs and remain competitive with conventional lending channels.

Panelists will provide current single-family market updates, including rate trends, TBA spread movement, and shifts in borrower demand. The discussion will also highlight how leading HFAs are adopting blended execution strategies—leveraging bonds for depth of subsidy and TBAs for operational efficiency and reach.

Multifamily Track: Innovative Solutions for Multifamily Preservation: Tackling HFA Challenges

Speakers: Joshua Cannan, Vice President (Merchants Capital), Lauren Connors, Senior Vice President (NYCHDC), and Ferdinand Perrault, Vice President & Senior Credit Officer (Moodys)
This session will examine the current landscape of HFA preservation portfolios, highlighting rising challenges such as rental arrears, increasing operating costs, and financing pressures. Panelists will explore a range of solutions, including capital injection strategies, innovative tools like subordinate market-rate revolving term loans (SMRRT), publicly sponsored insurance options, and interest assistance programs, alongside efforts to expand federal rental assistance. Attendees will gain practical strategies to close funding gaps, reduce overall financing costs, and preserve affordability while maximizing limited resources.

Networking Break

Break Sponsor:

Concurrent Sessions

Policy Track: Expanding Opportunity: HFA Strategies for Rural Housing

Moderator: Bill Brewer, Executive Director (Nevada Rural Housing)
Speaker: Mark Kudlowitz, Senior Policy Director (LISC)
Local HFAs play a critical role in expanding housing opportunities in rural communities, where limited housing supply, aging housing stock and constrained development resources present unique challenges. This session will highlight innovative strategies HFAs are using to support rural housing development and preservation, including targeted financing tools, partnerships with local governments and nonprofit developers, and approaches to leveraging federal and state resources. Panelists will share practical examples of programs that are increasing access to affordable rental housing and homeownership in rural areas while addressing the distinct economic and demographic needs of rural communities.

Single Family Track: Hot Topics in Single Family – Navigating Uncharted Territories

Moderator: Geoff Praulx, Managing Director (Morgan Stanley)
Speaker: Mike Airhart, Managing Director (Stifel Public Finance)
A limited supply of homes for sale, increasing home prices, and rapidly rising rates create challenging conditions for the first-time, low and moderate-income homebuyers that HFAs seek to serve. These conditions and the recent market volatility call for unique ideas and fresh approaches. This session will focus on current market conditions and an overview and comparison of a variety of financing approaches designed to generate competitive mortgage rates and the all-important down payment and closing assistance as we navigate these uncharted territories. There will also be an opportunity to hear about GSE plans regarding equitable housing and a discussion of opportunities to narrow the racial homeownership gap.

Multifamily Track: Unshelving Public Housing: Unlocking Capital through Restore-Rebuild

Speakers: Tiena Hall, General Manager (Los Angeles Housing Development), Melissa Taphorn, Executive Director (Washington County CDA), and William Wilcox, Housing Finance Manager (Mayor's Office of Housing and Community Development, San Francisco) 
Public Housing Authorities (PHAs) are increasingly leveraging innovative repositioning strategies to modernize and preserve aging housing stock. Through tools like the Rental Assistance Demonstration (RAD), PHAs can convert traditional public housing into more stable, long-term Section 8 funding platforms that unlock access to private and public capital.

This session will explore how RAD-enabled repositioning is transforming distressed properties into financially sustainable, high-quality affordable housing—while maintaining long-term affordability and public stewardship. Panelists will share practical insights on structuring deals, managing partnerships, and balancing resident protections with redevelopment goals.

Networking Happy Hour

Come grab a drink and join us for Happy Hour! Get to know the NALHFA Board of Directors, Staff, and fellow conference attendees.

Registration

Networking Breakfast

Breakfast Sponsor:

9:00 am - 10:15 am

NALHFA University Presents: Concurrent Training Workshops: Part I

The following concurrent training workshops are targeted to the following three segments of the affordable housing finance industry. Please review to determine which track complements your experience level.

Rising Stars: This track is focused on providing expert insights to professionals who are either new to the affordable housing finance industry within the last 4 years or perhaps new to their role. If you are eager and innovative, have an appetite for the exchange of knowledge and sharing of best practices, this workshop track is for you.

Emerging Leaders: This track will enable working professionals who have been on their career path for 5+ years to come together with their unique blend of expertise and ambition in an engaging format to drive positive change and to influence the future landscape of the affordable housing finance industry.

Executive Leadership: Encompassing C-Suite Leadership and members of senior management, this track is for those with 15+ years of professional experience, bringing leadership, wisdom, and a wealth of knowledge in the affordable housing finance industry. In this workshop track, you will discuss a variety of high-level topics, including management and leadership skills with fellow industry thought leaders.

Rising Stars: So You Want to Be a Houser? Part 1: Advocacy 101

Facilitators: Josh Brandwein, Director of Government Affairs (NALHFA), Katie Coleman, Communications Director (Nevada Rural Housing), and Yolanda McCutchen, Vice President, Public Relations (DCHFA)
This session will introduce attendees to the fundamentals of housing finance advocacy and federal policies that shape the affordability and development landscape. Participants will gain a basic understanding of key federal programs and legislation that impact the industry along with practical guidance on how to effectively engage with policymakers at the federal, state and local levels. Session leads will share strategies for building relationships with elected officials, communicating the importance of housing programs and ensuring local HFA perspectives are represented in policy discussions.

Emerging Leaders: From Collaboration to Scale: Replicable Local HFA-PHA Partnership Models

Speakers: Tanya Dempsey, Co-CEO (CSG Advisors), Teresa Galicia, Director, U.S. Public Finance Community Development & Social Lending (Fitch Ratings), Ann McKenzie, Sr. Vice President (Atlanta Housing), and Vickey Roberts
Across the country, HFAs and PHAs share a common mission—expanding and preserving affordable housing—but often operate in parallel rather than in fully integrated partnership. When aligned, these entities can combine financing, subsidy, land, and policy tools to scale production and preservation of deeply affordable housing.

Partnerships between HFAs and PHAs are emerging as powerful tools for expanding homeownership, affordable housing production, and preservation at the local level. Drawing from real-world partnership models, this session explores how PHAs can serve as strategic partners in advancing local HFA missions. Through a facilitated discussion and interactive framework exercise, attendees will identify partnership structures and next steps applicable to their own agencies.

Executive Leadership: Supporting Innovation and Sustainability: Through Applying CDFI Funds, Implementing Lending Programs, and Community-Based Multifamily Financing Innovation

Facilitators: Damian M. Busch, Senior Vice President – Municipal Finance (Jefferies) and Valerie White, Head of National Housing Strategic Initiatives & Senior Executive Director (LISC)
This session will explore how local governments can innovate to meet community needs while responding to changing market conditions and an evolving regulatory landscape. Panelists will present a range of financing options, including strategies to overcome barriers to adoption and expand housing opportunities for moderate-income families.

Bringing together experienced affordable housing practitioners, lenders, and investment professionals, the discussion will highlight project structures that deliver affordability while mitigating risk through partnerships across a diverse set of financing entities. The session will also examine how to advance public purpose through locally developed funds and collaboration with Community Development Financial Institutions (CDFIs).

Participants will gain practical tools and insights to help providers access the capital needed to achieve locally established affordability targets and prepare for the evolving role of government in delivering affordable and income-based housing solutions.

Networking Break

Break Sponsor:

10:45 am - 12:00 pm

NALHFA University Presents: Concurrent Training Workshops: Part II

Rising Stars: So You Want to Be a Houser? Part 2: Putting Advocacy into Action

Facilitators: Damon Burns, CEO (Finance New Orleans), Scott Hutter, Director of Multifamily Lending and Neighborhood Investments | Affordable Housing Expert (DCHFA), and Todd Kercheval, Executive Director (TALHFA)
Building on the foundations from Part 1, this session will focus on how emerging housing leaders can apply advocacy skills in their own communities. Attendees will learn how to develop a clear advocacy strategy, tell compelling stories about the impact of housing programs, and use tools such as social media, local media outreach, and community engagement to amplify their message. Session leads will provide practical guidance on translating local HFA passion for housing into meaningful action and effectively communicating work to policymakers and the public.

Emerging Leaders: Maximizing Capital Stacks: Leveraging Federal and State Resources

Facilitator: Aaron Eaquinto, General Manager (Dallas Housing Finance Corporation)
This session will explore how Housing Finance Agencies of varying sizes are strategically leveraging federal and state resources to build effective capital stacks and maximize funding impact. Program leaders from small, medium, and large HFAs will share real-world examples of how they utilize available programs, align funding streams, and tailor approaches to meet their unique market needs. Attendees will gain practical insights into structuring layered financing, optimizing resources, and scaling strategies across different organizational capacities.

Executive Leadership: Navigating the Evolving World of Artificial Intelligence (AI) and Cybersecurity

Facilitators: Paul Cackler, Chief Information Officer (NYCHDC), Elizabeth Moya, Executive Director (El Paso Housing Finance Corporation)
Artificial intelligence (AI) and cybersecurity are two of the most rapidly evolving technologies shaping how organizations operate, protect data, and make decisions. As digital systems expand across industries—from finance to housing to government—these technologies are becoming essential to both innovation and risk management. Artificial intelligence can be integrated into everyday work to save time, improve decision-making, and streamline communication. Many professionals are using AI tools like ChatGPT, Copilot, and other platforms.

Empowering the NextGen in Affordable Housing Finance Luncheon

Facilitator: Tanya Dempsey, Co-CEO (CSG Advisors)
Empowering the NextGen in Affordable Housing Finance Luncheon is aimed to celebrate, connect, and accelerate emerging leaders in affordable housing finance while fostering cross-generational engagement. This will be a high-impact leadership and networking event designed to spotlight rising professionals who are shaping the future of housing finance.

Session Sponsor:

Affordable Housing in Action: A San Antonio Tour & Hosted Gathering
(Pre-registration required)

Buses leave promptly at 2:30 pm CT. All participants will board buses at 2:15 pm CT.

Experience San Antonio’s affordable housing ecosystem firsthand during this exclusive, limited-capacity bus tour. Attendees will visit three innovative developments that showcase the power of public-private partnerships, creative financing structures, and community-focused design.

The tour includes guided walk-throughs of Four25 San Pedro, Los Arcos at VIDA, and a windshield tour of The Baldwin at St. Paul Square, offering insight into supportive housing, large-scale affordable communities, and mixed-income models. The afternoon concludes with a tequila tasting and bites at La Cantina by Cuishe, hosted by The NRP Group.

Advance registration is required, and space is limited. This is one of the most anticipated experiences of the 2026 Annual Conference—be sure to secure your seat.