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

Mark Brooks
Director of Acquisitions

Mark joined NNEHIF on a full-time basis in June 2017 as a Senior Acquisitions Officer. Mark began at NNEHIF in January 2017 as a consultant before joining the NNEHIF team in June.

Prior to joining NNEHIF, Mark was, and continues to be, a principal at Wishrock Investment Group II, a national affordable housing developer with developments in seven states across the country totaling in excess of 2,000 affordable housing units utilizing various financing methods including FNMA, FHLMC, FHA, and State Agency Financing, typically structured as 4.0% LIHTC cash-collateralized bond acquisition and rehabilitations.

Prior to Wishrock, Mark was Vice President at the The Wishcamper Companies where his responsibilities included management of a wide range of projects, from rural housing re-developments, LIHTC acquisitions and rehabilitations, Section 8 project purchase/refinance/rehabilitation, and various other commercial real estate transactions.

Before joining The Wishcamper Companies in 2008, Mark worked as an Investment Officer at TD Bank in the Community Capital Group where he helped the bank meet its CRA investment goals through a variety of investment vehicles including Low Income Housing Tax Credits, New Market Tax Credits, Equity Equivalent investments, Community Loan Fund and Venture Capital investments.

Mark earned a Master’s in Business Administration and a Master’s of Science in Accounting from The University of Southern Maine.

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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 University of Southern Maine. She volunteers with Through These Doors, a domestic violence resource center.

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Maryanne Gottman
Asset Management Information Specialist

Maryanne Gottman joined NNEHIF in November 2009. As Asset Management Associate, Maryanne collects, reviews and enters monthly construction and leasing information, annual compliance reports, quarterly reports from developers, general partners, and property managers, as well as budgets and audits annually. 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, a member in the Maine Real Estate & Development Association (MEREDA) and the Maine Affordable Housing Coalition (MAHC).

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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Thomas MacDonald
Vice President, Acquisitions

Tom MacDonald joined NNEHIF in 2011 as Vice President of Acquisitions. He is responsible for overseeing the acquisitions of investments and coordinating the activities of HIF Consulting.

Before his tenure at NNEHIF, Tom owned MacDonald Associates, an affordable housing due diligence and LIHTC consulting firm. Prior to that, he was CEO of a Maine-based development and management company with 1,600 units in 65 properties in the Northeast. He has also served 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 Master’s in Business Administration from Southern New Hampshire University. 

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Jan McCormick
Vice President, Asset Management

Jan McCormick is Vice President of Asset Management, having joined NNEHIF in 1999 when its staff totaled four people and its investments consisted of fifteen properties. Her initial role as Director was to form an asset management department to 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.  Prior to that she was a lending and loan servicing officer at a southern Maine community bank.

Jan is a graduate of the University of Maine, and she holds a Master’s degree in finance from Bentley College. Jan serves on the Board of Community Housing of Maine, a nonprofit developer, manager and advocate for affordable supportive housing. She is an active contributor to NNEHIF’s trade group, the National Association of State and Local Equity Funds, as well as various local and regional groups 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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Connie Onos
Administrative Assistant

Connie Onos joined NNEHIF in June 2017 as the Administrative Assistant. She is responsible for the day to day operations of the office by supporting the staff, and assisting The Vice President of Finance and Administration with accounting and financial tasks. 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 joined NNEHIF in 2016. As Senior Asset Management Officer, his role includes the disposition of matured real estate investments, structuring workouts or similar transactions related to troubled assets, and conducting feasibility analyses of contractual consent and waiver requests.

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 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 25 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 Vice 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 is the Treasurer and 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
Asset Manager

Mike Sprague joined NNEHIF in July 2018 as an Asset Manager.  He is responsible for contributing to corporate oversight of portfolio performance and investment return through regulatory compliance monitoring and provision of technical assistance, related to affordable housing property management.
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 BS in Business Administration from Husson College in Bangor, ME.

 

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Sherrin Vail
Director of Asset Management

Sherrin joined NNEHIF in 2017 as Director, Asset Management Operations.  She is responsible for leading all routine asset management functions from construction and lease-up through and during stabilization while overseeing asset analysis and quarterly reporting, compliance monitoring and reserves usage.

Prior to her most recent role as the Branch Executive Director for the Greater Portland YMCA, Sherrin served as the Director of Property Management for Avesta Housing and has worked in the real estate industry for 18 years.  Sherrin earned her BA in Business Administration from Merrimack College.  She currently serves as the President for Maine Real Estate Manager’s Association (MREMA).

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Cameron Woodford
Acquisitions Officer

Cam Woodford joined NNEHIF in 2017 as an Acquisitions Analyst. He is responsible for assisting the acquisitions team in underwriting and structuring investments, as well as providing support to HIF Consulting. 

Prior to joining NNEHIF, Cam was an Associate Broker at SVN and Commercial Properties Inc. where he specialized in investment sales, acquisitions, leasing, and development in the retail sector.

Cam earned a BA in Economics from Bowdoin College. He serves as the Chair of DevelopME, a group for rising leaders in Maine’s real estate industry, and is an active member of MEREDA’s events committee. 
 

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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 open positions 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.