Enterprise Community Investment, Inc. Announces Promotions
New Vice Presidents bring expertise, passion for their work
Columbia, Md. (April 5, 2006) - Enterprise Community Investment, Inc. (Enterprise) announced today that its board of directors has elected three members of the organization to the position of vice president. Enterprise is a national leader in the affordable housing finance and community development industry. Working with various investor and developer partners, Enterprise finances, develops, and manages a portfolio of high-quality affordable housing and related community enrichment facilities in underserved communities across the country.
The individuals promoted to vice president have expertise in the areas of residential acquisitions and underwriting, asset management, financial management and training. "The dedication and talent of these key members of Enterprise are an asset in guiding the organization through an increasingly competitive market," said Jeffrey Donahue, president and CEO of Enterprise Community Investment, Inc. "The experience these individuals bring to our work, I believe, will help build the Enterprise organization of the future."
John Brandenburg was promoted to vice president of asset management and is responsible for problem resolution for properties that require focused attention beyond regular asset management. Brandenburg also directs Enterprise's approach to transferring tax credit properties to nonprofit sponsors after the completion of the 15-year compliance period. Before joining Enterprise in 1998, Brandenburg served for over 11 years as executive director of two nonprofit housing agencies in Columbia and Baltimore, Md. He also held positions with the Department of Housing and Urban Development, with local government in Kansas City, Mo. and a national nonprofit organization. Mr. Brandenburg is a Member of the Appraisal Institute (MAI).
Based in Portland, Oregon, Monika Elgert was promoted to vice president of northwest acquisitions for Enterprise. Elgert oversees acquisitions for multifamily housing developments financed with Low-Income Housing Tax Credits (LIHTC). Her responsibilities include managing key developer relationships and the underwriting of affordable housing transactions in 11 western states, including Alaska. Prior to joining Enterprise in 1999, Elgert was vice president with Bank of America Community Development Bank where she structured financing for developers of affordable housing. Previously, she worked as a multifamily rental housing developer with Rural CA Housing Corporation.
Caitlin Landrus was promoted to vice president, asset management for the company. In this capacity, Landrus oversees the western region asset management staff located in Denver, Los Angeles, and Portland, Ore. Ms. Landrus and her staff manage a portfolio of approximately 400 low-income housing tax credit properties throughout the western part of the United States. Landrus also provides technical support to Enterprise staff in the Portland office. Ms. Landrus has spoken at numerous housing conferences on a variety of topics including nonprofit asset management, management of maintenance, management of farm worker and Native American housing as well as basic and advanced LIHTC compliance topics. In addition, she created and implemented a program to train owners and management agents nationwide in LIHTC compliance.
Enterprise Community Investment, Inc. (Enterprise) is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits, short- and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. For over two decades, Enterprise has privately raised $7 billion in capital to finance affordable housing, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.
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