MFA Adds Two Industry Professionals to Low-Income Housing Tax Credit Allocation Review Committee

MFA Adds Two Industry Professionals to Low-Income Housing Tax Credit Allocation Review Committee

ALBUQUERQUE, NM—The New Mexico Mortgage Finance Authority (MFA) Board recently approved the addition of Edward Archuleta and Ken Carson Jr. to the Low-Income Housing Tax Credit (LIHTC) Allocation Review Committee, a diverse committee of professionals who provide LIHTC funding recommendations to the MFA board and conduct appeals for LIHTC awards issued by MFA.

“This committee plays an important role in providing additional oversight for a process that helps create many new affordable housing units in the state,” said MFA Executive Director/CEO Isidoro Hernandez. “We’re excited to welcome the talent and expertise these new committee members bring.”

The current committee includes Patricia Sullivan, board member at MFA and associate dean of the New Mexico State University College of Engineering; Bob White, of counsel at Robles, Rael & Anaya, P.C.; Rosalyn Nguyen Chafey, past MFA board member and attorney at Presbyterian Healthcare Services; Michael A. D’Antonio an Energy Policy Consultant; Adelmo “Del” Archuleta, former president at Molzen-Corbin; Nicole Martinez, executive director of Mesilla Valley Community of Hope; and Lyle Greenberg, former executive vice president at Charter Bank, who will be rotating off the committee.

Joining the committee is Archuleta, who holds a Bachelor of Arts degree in Environmental Design and a minor in Southwest History from the University of New Mexico. Archuleta has worked with St. Elizabeth Shelters and Supportive Housing in Santa Fe, NM for the past 12 years and currently serves as Executive Director.

Prior to joining St. Elizabeth, Archuleta also worked as a consultant to environmental non-profit organizations and successfully established the first land conservation program in New Mexico. In addition, Archuleta has also previously worked for a non-profit agency on land use planning and sustainable development; was a licensed real estate broker specializing in conserving ecologically and historically significant properties; and held positions within the Office of the Secretary of State.

In addition to his professional experience, Archuleta has extensive experience serving on boards and committees across the State and brings real estate, environmental design, and supportive housing experience to the committee.

The second member joining the committee is Carson, an Albuquerque native who holds a Bachelor of Business Administration degree from New Mexico State University. Carson has a 40-year career in banking which included 14 years as a Bank President and spanned roles leading Federal Bank Examiner, President of MyBank of Belen, NM and Owner of Nexus Brewery and Restaurant since May 2011.

Carson also spent six years leading the New Mexico State Financial Institutions Division, which is the state entity responsible for licensing and regulating financial entities within its jurisdiction, promoting a sound financial and economic environment, and safeguarding consumer rights. In addition to his professional experience, Carson also has a long history of philanthropic and volunteer work across New Mexico and brings his extensive experience in banking and management to the committee.

The committee, appointed by the MFA Board Chairman, is comprised of at least four, and no more than nine, members, one of which is a current member of the MFA Board. The remaining members are comprised of professionals with expertise and experience in the sectors of finance, development, legal, energy, housing or homeless services, among other backgrounds.

As a committee, members review project rating and ranking results from MFA staff’s proposed award summary, conduct the appeals process for LIHTC awards and make final award LIHTC funding award recommendations to the MFA Board. The committee also helps determine whether the proposed awards align with the Qualified Allocation Plan, a federally mandated plan that sets out the state’s eligibility priorities and criteria for awarding federal tax credits to housing properties.

For more information about MFA, visit: housingnm.org.