Scott Brummett Email and Phone Number

Responsible for structuring investment syndications as well as negotiating and closing the legal documents. Currently involved in syndicating funds involving Low Income Housing Tax Credits (LIHTC), and New Markets Tax Credits (NMTC). Duties include reviewing and understanding all legal documents and financial projections with an emphasis on collaboration and coordination with both internal and external relationships, including other US Bancorp production teams, syndicated investors, accountants, consultants, and attorneys.

Consortium of professional industry experts working individually and collaboratively to resolve complex real estate transactions surrounding affordable housing today. Collectively the consortium has over 200 years of knowledge and experience in Underwriting, Development, Construction, Lease-up, Property Operations, Asset Management, Section 42 compliance, QAP/State Agency application process, Fund Management, and Dispositions. Members of the consortium also understand the unique relationship of their clients having worked for Investors, Developers, Syndicators, and Property Managers of affordable housing that serve both the for profit and non-profit sectors.I worked with investors and developer clients to provide input on upper tier and lower tier partnership language related to underwriting and closing deal terms such as equity draw benchmark tests, partner guarantees, reserve releases, and reporting requirements to understand and mitigate risk. I also oversaw projects in construction by attending site visits as well as attending draw meetings to confirm progress while monitoring sources, uses, and contingency. Finally, I worked with clients to act as an intermediary between general partners, property managers, and syndicators to manage risk and maximize hard fee to the developer while maintaining investor yield through the compliance period.

Division Vice PresidentOperations - Managed the daily operations of the Asset Management department on a portfolio of affordable housing investments at a total value of over $9.6 Billion. Oversight of the team included troubled asset workouts, quarterly financial reviews, loan modifications, market risk analysis, general partner and property management changes, tax and audit review, tax credit/HUD compliance, quarterly and annual performance trending, IRR fund yields, external investor meetings and reports, managing developer relationships, equity contributions, and reserve approvals. I also lead the pre-stabilization team working with Underwriting, Originations, Modeling, and Construction on deal feasibility, internal review committee to approve deals going forward to investors. Construction/Lease-up - Monitoring of construction included attending draw meetings, reviewing change orders, and approving investor capital contributions up to $8MM. Oversight of the Compliance division included working with the Director of Compliance to oversee the team, create policies and procedures to generate reports to monitor lease-up/credit delivery, and troubled assets and provide a path of escalation for non-responsive GP’s and management agents.

Responsible for the oversight of a 7 member team and reporting their efforts to investors and an internal board on a portfolio of 100 assets. Managed troubled property review efforts, assessing risk, and providing training to the asset management staff. Monitored asset management’s efforts to meet departmental deadlines and interacted with general partner clients on new and existing deals to resolve issues and maximize DCR/cash flow and IRR to investors. Selected accomplishments include:• Troubled assets were reduced from 39% to 17% in three years. • Headed a strategic team to oversee the implementation of a proprietary YARDI based database that encompassed investor reporting, budgeting, site visits, and capital movement within asset management within three years. I have a firm understanding of RE based software, performance metrics, and effectively capturing benchmark performance data for analysis. • Improved organizational performance increased as the company grew from 75 assets to 120 assets in 7 years. • Helped grow investment partnership pool from 12 to 25 and our development partnership pool from the original 3 to 12.

Started career as a tax credit developer by sourcing feasible developments and locations, partnering with the underwriting team to complete proformas for the internal review committee to move forward on land options and begin the application process with state housing agencies, re-zoning efforts, and engage in discussions with key members of local municipalities.As the pipeline of deals developed, took on the additional responsibility as an acting general partner, ensuring underwriting goals and partnership requirements were maintained as a fiduciary requirement to the investors.Developed and realized the ultimate goal of the owners to bring the property management function in house for greater control of customer service and operational metrics. Selected accomplishments include:• Implemented a database management system to oversee remote staff across the country including accounting, operations, budgeting, compliance, and annual audit modules. • Integrated remote staff and systems into a single platform eliminating double entry system, cost burden of multiple software platforms, while building a team environment through training/mentor program between managers and facility maintenance. • Increased the number of managed units from 1,500 to 5,000 across three states. • Turned the organization to cash flow positive in 18 months, exceeding investor closing projections at all communities by the third year of operations.