Stephanie Sweeney, Ph.D.
Founder
In August 2024, I completed my Ph.D. in Regional Planning at the University of Cincinnati’s College of Design, Architecture, Art, and Planning. My research explored the LIHTC program’s emphasis on green building, one of the program’s most useful aspects as researchers seek solutions to global warming problems resulting from greenhouse gas emissions.
The sustainability of affordable housing covers a wide range of subjects in addition to the ecological features installed in LIHTC apartments. Beyond energy efficiency, sustainability includes safety, affordability, connection to jobs, shopping, health and childcare, education, and other services.
LIHTC units reduce carbon emissions, but the effect is incremental due to the small number of apartments produced; LIHTC produces only about 100,000 housing units yearly. LIHTC produces higher-quality, more efficient dwellings that may save up to 40% more energy costs than properties constructed conventionally (Bourland 2021). Reduced energy consumption also reduces greenhouse gas emissions. Given the urgency of climate change, building codes for all housing should include green techniques and rating systems.
I began in affordable housing in 1993 with the non-profit housing development corporation Franciscan Home Development in Over-the-Rhine, an inner-city neighborhood of Cincinnati, Ohio. The Franciscan organization was considered a pioneer in combining low-income and historic tax credits. It is credited for helping to spur the “renaissance of Over-the-Rhine” by re-developing 200 units in 35 buildings.
In 2003, I completed a Master's in Community Planning (MCP) at the University of Cincinnati. At the same time, I worked with non-profits to write proposals for housing development with a consulting firm from Lexington. During this time, I published an article and several book reviews in the Journal of Urban Affairs. In addition to producing units, I provided technical assistance on many aspects of organizational development.
Stephanie Sweeney & Associates, LLC was established in 2008, and by 2010, I was working with clients in four states. Initially, I continued to specialize in non-profit housing for special needs populations. However, by 2010, I began participating in more for-profit partnerships, particularly the renovation of multifamily properties originally developed through the United States Department of Agriculture.
My resume details the variety and financial scope of the projects I have helped develop: an estimated 2,500 units in over 50 projects since becoming a consultant.
Since its inception in 1986, the LIHTC has been the primary tool for financing the new construction and rehabilitation of affordable housing. However, research has not focused on the residents of developments receiving the tax credits. The LIHTC program has existed for nearly 40 years, yet eleven million US households are extremely rent-burdened (National Low-Income Housing Coalition [NLIHC] 2021; NLIHC 2024), meaning they pay more than 50% of their income for rent and utilities.
The time has come for affordable housing providers to suggest ways to augment and improve the LIHTC. While green building is more expensive than conventional construction, it has become increasingly clear that developers need to address housing affordability while also focusing on environmental sustainability in the residential sector.
Jessica Gardner
Consultant
My affordable housing career began when I accepted a position in Kentucky Housing Corporation’s legal department. I started as a Paralegal processing closing documents for the multifamily department. After a year of processing closing documents, I become the Hearing Officer for the Section 8 department and travelled around the state performing hearings. During this time a new Governor was elected and things were changing at Kentucky Housing Corporation. The Governor launched an initiative known as Recovery Kentucky, and a position opened up in the Multifamily Housing department to manage those projects. As I was eager to learn new things, I jumped at the opportunity and finished my career at Kentucky Housing as the project manager for the 10 Recovery Kentucky projects which consisted of numerous funding sources.
In 2007, I left Kentucky Housing for the Housing Developer position with Bluegrass Regional Mental Health-Mental Retardation Board. I was hired to expand their housing opportunities for persons with mental or developmental disabilities. I applied for and successfully obtained the only HUD 811 project in the state of Kentucky that is scattered site. The project was 3 group homes in three different neighborhoods in Lexington. Two of the homes housed persons who were developmentally disabled and the third home housed individuals with the rare Prader Willi syndrome.
When I left Bluegrass Regional Mental Health-Mental Retardation Board in May of 2009, I went to Federal Home Loan Bank of Cincinnati to manage their Affordable Housing Program. I provided technical expertise to developers throughout Kentucky, Ohio and Tennessee. During my time there I revamped the underwriting guidelines and overall process and procedures for how applications and disbursements were processed.
In 2011, Wabuck Development Company offered me a position to join their team to expand their footprint into Tennessee and Ohio. My primary goals were to bring new partnerships, new opportunities and complete funding source applications such as tax credits applications, Federal Home Loan Bank applications, and local and state funding applications. During my five years with Wabuck, I was successful in obtaining over $30 million in tax credit and Federal Home Loan Bank funds.
I enjoy working with developers and non-profits to make their visions come to life. The more complex the deal, the more exciting it is to use my skills to see doors being opened. My resume is attached and gives more detail about my roles and responsibilities in my various positions.