Development Portfolio  
         
      EXPERIENCE

Tayani Suma is the founder and President of Mission Redevelopment. Inc. A seasoned community development professional with over fifteen years of experience in real estate and economic development in disinvested communities, Ms. Suma has worked with various property types and many financing sources, including historic and low income housing tax credits, taxable and tax-exempt bond financing, conventional debt and equity, and assorted grant and subsidy programs.

With past experience as the director of real estate for a bank-affiliated Community Development Corporation in Chicago, Ms. Suma’s division was responsible for implementing a diverse series of development projects including commercial re-use, multi-family rehabilitation, single family in-fill, and small-office initiatives.

Her experience as Vice President at a private Atlanta-based development and construction company focused on mixed income apartment communities. In this capacity she also acted as the primary manager under a Program Management contract with a local housing authority. This contract included the design and implementation of a development program to create off-site replacement housing units for the authority.

Among other current assignments, Mission holds a contract as Project Manager for a local finance agency’s Private Activity Bond Program. In this capacity the firm works with developers following approval of their applications for bond financing, and completes document review, financial underwriting and other due diligence tasks in order to facilitate a smooth and timely closing.

Mission has completed federal applications for New Markets Tax Credits (NMTC) on behalf of clients in 2004 and 2005. Awarded by the U. S. Department of the Treasury’s CDFI Fund, the 2004 request was approved for $17,500,000 and the 2005 request was approved for $40,000,000.


DEVELOPMENT HIGHLIGHTS

Mission Redevelopment, Inc. has been involved in the following development initiatives:

• Paschal’s Hotel, Restaurant, & Nightclub redevelopment – Comprehensive development services to a private owner seeking to purchase and develop the historic site. Directing the franchise application process, design and engineering scope development, contractor selection and pricing phase, applications for public and private financing.

• Pryor and Fulton townhouses & condominiums – Partner, project management, and construction management for approximately 50 condominium homes on an exceptional site near downtown Atlanta.

• Park View at Coventry Station – 166-unit, new construction senior residence located in a master-planned community in Southwest Atlanta. Providing consulting and technical assistance to an established developer from the mid-Atlantic region entering the Atlanta market for the first time.

• New Markets Tax Credit Awards – Successful applications submitted in 2004 and 2005 with allocation authority that totals $57,500,000.

• Moultrie Manor – 80-unit, substantial rehabilitation of a rental apartment complex – Financial Advisor for Low Income Housing Tax Credit closing for property located in South Georgia.

• W.E.B. DuBois Charter School – financing and renovation of a 53,000 square foot warehouse for occupancy by a charter elementary and high school located in Detroit, Michigan.

• Moultrie Manor and Riverbend Apartments – prepared applications requesting separate allocations of 9% Low Income Housing Tax Credits for two South Georgia apartment complexes.

• Hollywood Shawnee, The Preserve at Cascade, and Richmond Oaks Townhomes, Brookside Park, and Highbury Courts/The Terraces – Project Manager for local housing finance agency for multiple tax-exempt bond/4% tax credit transactions.

• DeKalb County Portfolio - rehabilitation of four multi-family properties including 150 to 300 units per property – Preparation and submission of tax credit applications and follow-up with the Georgia Department of Community Affairs (DCA) to obtain “42M” approval letters needed for the closing of financing.

• Peoplestown Revitalization Corporation – Development Consulting Services on new construction, single-family development. Initial phase included 14 units on narrow, in-town lots.

• The Square at Peoplestown - 94 units, new construction, rental apartment complex – Co-owner and co-developer with a minority interest in the General Partner.

• Metropolitan Atlanta Portfolio - rehabilitation and new construction of two multi-family properties including 150 to 250 units per property - Preparation of tax credit applications and DCA follow-up to obtain “42M” approval letters needed for the closing of financing.


 

 

 

 
     
   Mission Redevelopment, Inc.  |  659 Auburn Avenue, Box #G26-A  | Atlanta, GA 30313 |  Ph: 404.355.0096  Fax: 404.724.9013  |  Copyright 2007 All Rights Reserved