Texas Qualified Allocation Plan (QAP) 101 – The Essentials

Quinn Gormley is the Executive Vice President of National Development for the Housing Trust Group. He has over 27 years of commercial real estate development experience, principally centered on affordable housing, tax oriented investments and economic development. He has extensive experience in regulatory policy making, commercial development risk analysis, due diligence and structured financing. He is a strategic thinker who has structured financing for conventional and tax-exempt revenue bond transactions in many states. In additional to various forms of debt facilities Quinn has provided regulatory oversight on housing credit investments as the administrator of the LIHTC program for a state agency and provided transaction advisory for investments in historic tax credits, state tax credits and structured new market tax credit investments. Through his diverse and unique experience within the industry, he has successfully provided multi-level oversight on the development and initial operation on over 7,000 units of multi-family and single family affordable housing.

Audrey Martin is the principal of Purple Martin Real Estate, a Texas-based consulting firm that provides development and financing consulting services to housing authority, for-profit, and non-profit clients developing housing tax credit communities layered with other sources of affordable housing financing in Texas. Audrey’s transactional work includes developments with 9% tax credits, 4% tax credit and bonds, HUD Rental Assistance Demonstration (RAD) financing, HOME, TCAP, and other financing sources. Prior to forming Purple Martin Real Estate Ms. Martin spent five years at the Texas Department of Housing and Community Affairs (TDHCA) as the administrator over the 9% housing tax credit program, supervisor over the cost certification process, and manager of the Real Estate Analysis Division which is responsible for underwriting all multifamily rental developments funded by TDHCA. Following her tenure at TDHCA, Ms. Martin worked with Texas-based development firms and was responsible for site selection, interfacing with local jurisdictions to secure support and development approvals, financial structuring of transactions, housing tax credit application preparation, development, and oversight during construction. Ms. Martin’s experience in the public sector coupled with development and consulting experience provides a balanced perspective in her approach to problem solving, and Ms. Martin is eager to continue to utilize this approach in service on the TAAHP board.