Northern New England Housing Investment Fund (NNEHIF) is a private, nonprofit 501(c)(3) corporation that promotes housing and community development by providing equity capital, technical assistance and consulting to affordable housing developers throughout Maine and New Hampshire.

NNEHIF remains committed to our core business and mission, even in this dynamic economic environment. While some challenges and opportunities have changed, our commitment to our vision is steadfast: affordable, secure housing for all individuals is the cornerstone of community life. We will continue to forge new paths while maintaining our vision, mission and principles to strengthen our position as a leader in affordable housing.

Our Staff

Holly Burbank
Vice President Finance and Administration

Holly Burbank became Vice President of Finance and Administration in 2015, after serving as Director of Finance and Treasurer since 2012. Holly joined NNEHIF in 2005.

Holly is responsible for corporate financial management including long-term financial goal setting, annual budgets, financial policies, cash management, sustainability analysis, financial monitoring, management and reporting. She oversees fund management including management of bridge loans, review and approval of investor fund tax returns, monitoring of tax credits and losses, maintenance of financial projection models and investor reporting. She works with NNEHIF’s president to manage and maintain investor relationships. Additionally, she oversees the general operations of the organization, such as human resources, information technology, and purchasing.

Prior to joining NNEHIF, Holly worked as Financial Services Manager for the Maine Health Care Association Workers’ Compensation Fund and as Director of Finance and Membership at the Maine Medical Association. She earned her Bachelor of Science degree in Accounting from the University of Maine at Augusta and has done coursework in the Masters of Public Policy and Management program at the University of Southern Maine. She volunteers with Through These Doors, a domestic violence resource center.

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Andrew Esancy
Acquisitions Officer

Andrew Esancy joined NNEHIF in 2019. He is responsible for assisting the acquisitions team in underwriting and preparing investment proposals.

Prior to joining NNEHIF, Andrew worked as an Asset Manager for LIHC Investment Group, overseeing the financial performance of a portfolio of multi-family Section 8 properties.

Andrew earned a Bachelor of Arts in Business Administration and Management from Wheaton College (MA) and is pursuing a Master's in Real Estate from Georgetown University.

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Maryanne Gottman
Asset Management Information Specialist

Maryanne Gottman joined NNEHIF in November 2009. As Asset Management Associate, Maryanne provides information management and overall support for the operations of the Asset Management Department.  Primary areas of responsibility include collection and tracking, data entry and reporting, recordkeeping, internal and investor reporting related to assets in leasing, construction and stabilized positions. She performs physical property inspections and reviews MSHA, NHHFA, HUD, RD inspection reports.

Maryanne earned the CHAM (Certified Housing Asset Manager) designation from NeighborWorks. She is a Board Member for the Brunswick Fair Hearing Authority.

Prior to joining NNEHIF, Maryanne was an Assistant Information Manager responsible for analyzing portfolios of secured and unsecured loans prior to purchase.

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Kara LaSalle
Acquisitions Officer

Kara LaSalle joined NNEHIF in 2019. As Acquisitions Officer, she is responsible for assisting the acquisitions team in underwriting, preparing investment proposals, and development and construction activities in New Hampshire.  Kara also provides support for HIF Consulting projects in ME and NH.

Prior to joining NNEHIF, Kara was the Real Estate Development Project Manager for Lakes Region Community Developers.  She began her career as an Environmental Engineer and Asbestos Inspector in NH and MA.

Kara earned a Bachelor of Arts in Mathematics from Franklin Pierce University and completed coursework for a Master's in Environmental Engineering from the University of New Hampshire.  She is currently pursuing certification as an Affordable Housing Professional from NeighborWorks America.  Kara is the Belknap County Representative for Governor Christopher T. Sununu’s Millennial Advisory Council, serving on the Housing Committee.  She is also an Assistant Field Hockey Coach at Plymouth State University, BelknapEDC Incorporator, and an active volunteer for the NH Appalachian Mountain Club.

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Thomas MacDonald
Vice President Acquisitions

Tom MacDonald joined NNEHIF in 2011 as Vice President of Acquisitions with responsibility for NNEHIF’s acquisitions and consulting business units. 

For the ten years prior to joining NNEHIF Tom operated his own real estate consulting firm, MacDonald Associates, specializing in real estate development, asset management and non-profit capacity building primarily for affordable housing developments. MacDonald Associates also performed market analysis and underwriting for HFA’s, local and national lenders and housing credit syndicators. Mr. MacDonald has served as CEO of a large property management firm and as the Low Income Tax Credit Administrator for the Maine State Housing Authority. 

Tom earned his bachelor’s degree from University of Maine, Orono and his MBA from Southern New Hampshire University.  He has served on several boards in the Bath, ME area. 

 

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Jan McCormick
Vice President Strategic Initiatives

Jan McCormick is Vice President of Strategic Initiatives. She joined the firm as Director in 1999 to launch an asset management department and oversee a growing real estate equity portfolio, build regulatory compliance monitoring services, create asset information systems, and provide investor reporting.

Prior to NNEHIF, Jan’s career spanned 22 years in real estate finance and consumer banking. She has extensive experience as an income property mortgage lender, asset manager and bond trader for UNUM Life Insurance Company. Jan’s early business life focused on residential and consumer lending and loan servicing at a community bank. She earned a Master’s degree in Finance from Bentley University in Waltham, Massachusetts, and a bachelor’s degree from the University of Southern Maine.

Jan serves on the Boards of Community Housing of Maine, a nonprofit developer/manager/advocate of affordable supportive housing, and The Park Danforth, a nonprofit retirement community in Portland, Maine, providing independent, subsidized and assisted living housing. She is an active contributor to the educational and collaborative activities of the industry trade group, National Association of State and Local Equity Funds, as well as to various local and regional organizations which promote affordable housing.

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Lisa Merchant
Acquisitions Specialist

Lisa Merchant joined NNEHIF in June of 2000. As Acquisitions Specialist, Ms. Merchant is responsible for taking our lower tier property transactions from the development phase to approval and closing, coordinates internal transition of investments from the Acquisition Unit to the Asset Management Unit and assists Asset Management with consents and waivers. Lisa brings almost fifteen years of real estate development and legal associate experience to the position, including seven years at UNUM as a legal associate in the Investment Division and three years at York Cumberland Housing Development Corporation (Avesta Housing) as development officer.

Ms. Merchant received a B. A. degree in Political Science and Economics at the University of New Hampshire, Durham, NH. Lisa is working towards her Graduate Certificate in English as a Second Language at the University of Southern Maine.  She is also an active literacy volunteer with the refugee and immigrant community in Portland.

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Kristien Nichols
Asset Manager

Kristien Nichols joined NNEHIF as an Asset Manager in July 2019. He contributes to departmental oversight of portfolio performance and investment return.  He is responsible for maintenance of systems and procedures, information gathering and transactional administration, data analysis and reporting.  He also has responsibility over assigned assets for regulatory compliance support and technical assistance related to affordable housing property management.

Kristien began his professional career at Apple and made his way to the banking industry in 2012.  Kristien worked in the Operations division of Gorham Savings Bank after developing through the retail banking industry.

Kristien attended Southern Maine Community College (SMCC) for business and holds several financial certificates. As an entrepreneur and former planning board member, Kristien brings a unique perspective to the team and is an active member of the local community.

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Connie Onos
Administrative Assistant

Connie Onos joined NNEHIF in June 2017 as the Administrative Assistant. She provides general administrative support for all staff and assists the Vice President of Finance and Administration with accounting and fund related tasks. Her responsibilities also include website reporting & maintenance, IT support, and communications.

Prior to joining NNEHIF, Connie most recently worked for Maine Health in the Behavioral Health Care Department. She has an Associate degree in Business Administration and many years of experience working in a variety of offices including banking, insurance, and health care. 

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Paul Ottoson
Fund Management Officer

Paul Ottoson became Fund Management Officer in 2019 after serving as a Senior Asset Management Officer for three years.

Paul is responsible for developing and maintaining procedures for, and executing, the disposition of matured real estate investments.  This includes all aspects of analyzing, negotiating and closing deals with our developer partners, as LIHTC investors target a year-15 exit of their partnership interests.  Paul also handles a wide range of fund management responsibilities including in-depth review of project partnership tax returns and audits, financial model analysis and quarterly investor benefit reporting. 

He also collaborates with the Asset Management and Acquisitions departments to complete due diligence of capital event transactions to ensure cash availability.

Prior to working at NNEHIF, Paul was an Assistant Branch Manager and Senior Loan Officer for Embrace Home Loans and before that, Home Loan Consultant for Wells Fargo.   He received his Bachelor of Science and Masters of Business Administration degrees from Salve Regina University in Newport, Rhode Island.

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Steve Schuster
Senior Acquisitions Officer

Steve Schuster joined NNEHIF in 2012. As Senior Acquisitions Officer he is responsible for development and construction activities in New Hampshire. Mr. Schuster also manages HIF Consulting projects in Maine and New Hampshire specializing in non-profit, development capacity building for affordable housing initiatives.

Prior to joining the Acquisitions team at NNEHIF, Steve was Housing Development Director for LACLT, Inc., Vice President of Development for Chinburg Builders and has worked in real estate development for the past 30 years.

Steve earned his bachelor’s degree from University of Massachusetts and his master’s degree from Goddard College. He has served on the Planning Board, the Zoning Board of Adjustment and other advisory boards in Madbury, NH where he lived prior to moving to Maine.

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Bill Shanahan
President

Bill Shanahan is President of NNEHIF. Bill joined NNEHIF in 2000 as Vice President/CFO and more recently was Vice President of Acquisitions.

Prior to joining NNEHIF, Bill spent over ten years as Director of Development and CFO for Realty Resources Chartered, a Maine-based for-profit developer of affordable housing.

Bill is a graduate of Bowdoin College. Bill is the President of the National Association of State and Local Equity Funds (NASLEF). He is the Board chair of the Genesis Community Loan Fund.  Genesis is a CDFI that provides financial resources for the creation and preservation of affordable housing and other community development activities. Bill serves on the Board of the Maine Real Estate Development Association (MEREDA). MEREDA is a statewide organization of real estate professionals that promotes fair and responsible real estate development. Bill also has chaired and continues to serve on the Maine Affordable Housing Coalition (MAHC) Board and he is on the Governing Board of Housing Action New Hampshire (HANH). Both are statewide housing advocacy groups.  

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Michael Sprague
Director of Asset Management

Mike Sprague joined NNEHIF in July 2018 as an Asset Manager.  He contributes to departmental oversight of portfolio performance and credit delivery, including maintenance of systems and procedures, information gathering and transactional administration, data analysis and reporting, and property management technical support.  Given Mike’s strength and experience with Section 42, he also manages the regulatory compliance monitoring and contractual relationship for the entire portfolio.

Mike has many years of affordable housing industry experience from Accounting Specialist and Property Manager with Avesta Housing, to his most recent role as Director of Private Monitoring Services at Spectrum Enterprises.  Mike earned his B.S. in Business Administration from Husson College in Bangor, ME.

 

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Sherrin Vail
Vice President Asset Management

Sherrin is Vice President of Asset Management. She joined NNEHIF as Director of Asset Management Operations in 2017, and more recently as Director of Asset Management in 2018. Sherrin has worked in the multi-family industry for twenty-three years, most recently as the Director of Property Management at Avesta Housing.  While there, Sherrin established the first bed bug law in the nation, developed and implemented a department-wide operation manual and procured Maine’s first portfolio-wide preventative pest management contract.  Prior to joining NNEHIF, Sherrin was the Branch Executive Director of the Greater Portland YMCA, focusing on health and well-being services for those in need.  At the YMCA, Sherrin established the GROW Program, a housing continuum model for difficult-to-house individuals.

At NNEHIF, Sherrin oversees all asset management in keeping with best practices in the low-income housing finance industry.  Responsibilities include portfolio performance, regulatory compliance, analysis and reporting, staff development and supervision, and interface with industry partners and trade organizations. 

Sherrin earned her bachelor’s degree from Merrimack College and instructs the Property Management Certificate Program at Southern Maine Community College.  She is the President of Maine Real Estate Manager’s Association, the largest state-wide association of affordable housing property management providers, focusing on training, education, and advocacy for affordable housing in Maine.

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Our Board

Our board members bring together the various constituencies that shape our mission. Leaders in the financial and nonprofit sectors, as well as committed individuals representing the public interest, come together to guide our work.
David Birkhahn
Vice President
TD Bank
Art Casavant, Vice Chair
Vice President
People's United Bank
Michael Clarke
Senior Vice President
Bank of America Merrill Lynch
Gene Clerkin
Senior Vice President
RBS Citizens
Bill Floyd
Executive Director
Genesis Community Loan Fund
Cullen Ryan, Chair
Executive Director
Community Housing of Maine
Kara Sweeney
Director
PretiFlaherty
Craig Welch
Executive Director
Portsmouth Housing Authority
Rick Whiting
Executive Director
Auburn Housing Authority
Andrew Winter
Executive Director
Twin Pines Housing Trust

Annual Reports

2015 Annual Report

Careers

There are no positions open at this time.

 

 

 

 

 

 

 

Directions

120 Exchange Street, Suite 600
Portland, ME 04101
207.772.8255

From the Maine Turnpike

Take Exit 44 (formerly Exit 6A) or 45 (formerly Exit 7) off the Maine Turnpike. Follow signs to I-295 heading to Portland.

From I-295

From I-295 take exit 7 to Franklin Street which heads south to Portland’s waterfront. Continue on Franklin Street for .4 miles, then turn right on Congress Street. From Congress Street turn left onto Exchange Street. We are on the right, across from The Press Hotel.

Parking

Parking can be found at the Temple Street Garage. From Exchange Street head southeast toward Federal Street. Turn right at the 1st cross street onto Federal Street. Turn left at the 1st cross street onto Temple Street. The parking garage entrance is on your left. Other nearby parking is available at the Custom House garage on Pearl Street, two blocks east from Exchange Street, and one block south from Middle Street.