EXPERIENCE OF PRINCIPALS
The following examples of experience of Klein Financial Corporation’s principals demonstrate their unique insight into optimizing the public policy objectives of affordable housing projects:
- Served as the chief consultant to the California State Senate and Assembly Joint Committee on Housing and Community Development, in 1976-1978, and wrote, proposed, and managed the legislation creating:
(a) The California Housing Finance Agency;
(b) The local government housing element revisions;
(c) The bond and mortgage insurance original authorization; and,
(d) In an assisting role, input on revisions to local government bond issuance authority.
- Directly involved in the feasibility studies and the program design for a number of local government neighborhood preservation and/or bond financing programs including the Haight Ashbury neighborhood and the Mission District neighborhood restorations for San Francisco and numerous other rehab and/or new construction rental and home ownership affordability programs.
- Extensive public policy background, in California in particular, and in national legislation, directly and indirectly, for almost 40 years, in the affordable housing field. Those roles commenced with setting up the California Housing Finance Agency (and serving for 6 years on its Board), the National Leased Housing Association, and the National Association of Housing Finance Agencies.
- Implemented, as a developer, California’s first, local government, multifamily bond financing.
- Implemented, as an officer of the development principal and as a development and financial consultant, California’s first multifamily, bond-financed apartments co-located (for Southern California and Northern California) on rapid transit sites (light rail and heavy rail).
- Selected by CalPERS through a national competition invitation, as one of three CalPERS partners in affordable and mixed income (with affordable components) multifamily development and equity investment.
- Designed and structured through authorization the Playa Vista $400 million infrastructure bond program and renegotiated all affordable housing provisions for this planned community, including over 2,000 affordable units.
- Participated as a key private contributor in the formulation of bond allocation, tax credit allocation, property tax exemption and other rule-making processes for affordable and mixed income housing in California.
- Structured over approximately $5.0 billion in tax exempt and taxable bond transactions. The most recent is a $1,513,234,006 in debt and equity structuring and funding.
- Water conservation programs.
- Prototype energy conservation projects jointly designed with the Priman Group for 250 unit congregate senior housing.