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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. Sumas 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 agencys 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 Treasurys 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:
Paschals 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.
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