Patrick Fry Email and Phone Number

Program Director for HPD’s HUD Multifamily and Low-Income Housing Tax Credit (“Year 15”) preservation programs. The HUD Multifamily Program leverages public resources and private sector financing to rehabilitate, recapitalize, and preserve privately owned rental housing with HUD rental assistance and/ or HUD financing. The Year 15 program assesses the financial and capital needs of LIHTC projects as they approach, or have passed, the initial 15-year compliance period. Both the HUD Multifamily… Show more Program Director for HPD’s HUD Multifamily and Low-Income Housing Tax Credit (“Year 15”) preservation programs. The HUD Multifamily Program leverages public resources and private sector financing to rehabilitate, recapitalize, and preserve privately owned rental housing with HUD rental assistance and/ or HUD financing. The Year 15 program assesses the financial and capital needs of LIHTC projects as they approach, or have passed, the initial 15-year compliance period. Both the HUD Multifamily and Year 15 programs work to maintain the long-term availability of quality affordable apartments in the City by assisting the existing stock of affordable housing to remain physically and financially viable. Tools used include tax exemptions, subsidized loans, rent restructuring, and extensions or modifications of existing City debt to assist in leveraging private capital. Show less

Production role with a dual focus on (i) initial financial modeling and bidding on LIHTC transactions and (ii) underwriting and closing affordable housing tax credit investments structured to deliver a stream of tax benefits to investors

Senior Development Officer- Secured and administered financing from private and federal, state and local public sources, including federal and state low-income housing and historic tax credits (9% and 4% LIHTC), Section 8 rent increases, FHLB AHP, HOME, TIF, FHA and GSE loan products, and utility incentive programs- Negotiated purchase and sale agreements, equity investor agreements, loan term sheets and documentation, joint venture agreements, architect agreements, construction… Show more Senior Development Officer- Secured and administered financing from private and federal, state and local public sources, including federal and state low-income housing and historic tax credits (9% and 4% LIHTC), Section 8 rent increases, FHLB AHP, HOME, TIF, FHA and GSE loan products, and utility incentive programs- Negotiated purchase and sale agreements, equity investor agreements, loan term sheets and documentation, joint venture agreements, architect agreements, construction contracts, and other vendor agreements- Developed project scope with design professionals and oversaw project construction; experience with rehabilitation and new construction- Performed environmental due diligence and integrated mitigation and/or abatement measures for contamination or hazardous materials into project scope- Oversaw temporary relocation of tenants according to the Uniform Relocation Act- Assessed financial feasibility of prospective acquisition/rehabilitation projects Show less

Recruited to be lead municipal bond banker for a new tax-exempt loan product targeted to affordable housing developers. Worked jointly with Wachovia Multifamily Agency Lending, Community Development Lending, and Municipal Structured Products on product development, origination, and execution. Loans funded via tender option bond program.Clients served included private and nonprofit affordable housing developers.

Municipal bond investment banker. First staff hire by lead banker launching a developer-focused tax-exempt housing finance practice and direct bond purchase program; worked closely with Community Development Banking group.Led external working groups in documenting tax-exempt loans funded by multifamily housing bonds issued through public offerings or purchased directly by the Bank’s Community Development Bank

Municipal bond investment banker structuring and executing tax-exempt multifamily housing bond transactions to fund affordable housing loans for private and nonprofit developers and public housing authority clients.