sarah letts

Executive Director at Hollywood Community Housing Corporation
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Location
United States, US

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Experience

    • United States
    • Non-profit Organization Management
    • 1 - 100 Employee
    • Executive Director
      • Mar 2016 - Present

      Executive Director of a nonprofit that has expanded into markets throughout Los Angeles County. Work closely with the Board and senior staff to determine the strategic direction for housing development, resident services, asset management and fundraising. In response to LA's housing and homelessness crisis, increased HCHC's production of service-enriched affordable housing by closing the financing for 6 properties and adding 4 new properties to the predevelopment pipeline. Improved the financial resiliency of the organization through disciplined spending and increased developer fee income. Show less

    • United States
    • Non-profit Organizations
    • 1 - 100 Employee
    • Executive Director
      • Apr 2011 - Jun 2016

      Executive Director of a community-based nonprofit with a $4+ million budget, 80 employees and 1,700 units of affordable rental housing. Determined the strategic direction of the organization in collaboration with the Board of Directors. Responsible for the work of 5 departments including housing development, property management, maintenance, resident services and accounting. Negotiated partnership agreements and closed debt and equity for six properties financed with low-income housing tax credits (LIHTC). Show less

    • Financial Services
    • 100 - 200 Employee
    • Director
      • 1999 - 2011

      Director in the Multifamily Division and responsible for investing over $2 billion in 300+ apartment buildings financed with LIHTC equity. Led the teams initiative to write and refine procedures and investment guidelines to handle the rapid growth of the Company's LIHTC investment strategy. Negotiated pricing and partnership agreements for guaranteed, private label and multi-investor funds. Resolved real estate, tax and legal issues as part of the process of buying and selling LIHTC investments. As a Director of Credit Loss Management in the Single Family Division from 2010 - 2011, co-led a team of professionals who worked in distressed communities throughout the country to address the foreclosure crisis by selling real estate owned (REO) to cities, counties and land banks. Show less

    • United States
    • Non-profit Organizations
    • 500 - 600 Employee
    • Consultant
      • 1998 - 1999

      As a consultant to LISC, managed the organization's sponsorship of two bills in the California State Assembly including the Community Investment Tax Credit (AB 1080) that proposed the creation of a $50 million state tax credit and a $15 million expansion of the State LIHTC program (AB 97). Analyzed LIHTC allocation plans throughout the country to identify best practices and build a case against California's lottery system for allocating LIHTCs. As a consultant to LISC, managed the organization's sponsorship of two bills in the California State Assembly including the Community Investment Tax Credit (AB 1080) that proposed the creation of a $50 million state tax credit and a $15 million expansion of the State LIHTC program (AB 97). Analyzed LIHTC allocation plans throughout the country to identify best practices and build a case against California's lottery system for allocating LIHTCs.

    • United States
    • Medical Practices
    • 1 - 100 Employee
    • Director of Housing Development
      • 1994 - 1998

      As the Director of Housing Development, structured complex deals financed with LIHTC equity, Section 8 subsidies, McKinney Homeless Assistance Funds, Housing for Persons with AIDS, CDBG, HOME and tax increment financing. Led all phases of the development process including site acquisition, selection and supervision of architects and contractors, and the closing of debt and equity financing. The nonprofit's name during the 1990's was Lakefront SRO and their mission was to end homelessness. Lakefront SRO was a pioneer in the creation and operation of what is now called Permanent Supportive Housing (PSH) and they subsequently merged with a national nonprofit called Mercy Housing. Show less

Community

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