Eliot Reid joined the Foundation as Chief Operating Officer in October 2010, with responsibility for oversight of day-to-day business functions, including acquisition, development, project finance and property operations. During his term as Chief Operating Officer, the Foundation doubled the size of its housing portfolio and successfully preserved more than 1,000 units of government-assisted rental housing. This growth led to Eliot’s appointment as President and Chief Executive Officer in April 2012.
Eliot has extensive procurement and compliance experience with virtually all FHA-insured lending programs, Section 8, HOPE VI, NSP, Green Retrofit, Multifamily Weatherization, HOME, CDGB, FHLB-AHP, IRC Section 42, 45D and 47 tax credit programs, Fannie Mae & Freddie Mac multifamily lending programs, IRC Section 103 bond financing, RD 515, 538 and B&I programs, and numerous state and local government housing and community development finance programs. Prior to joining the Foundation, Eliot served as outside counsel to the Foundation as a member of the Affordable Housing Practice Group at Nixon Peabody LLP. In this position, Eliot acted as lead counsel for the transactional and regulatory representation of owners, operators and developers of multifamily affordable housing throughout United States. He has represented for-profit real estate developers and not-for-profit organizations in all stages of acquisition, development, preservation, operation, recapitalization and disposition of HUD-assisted housing stock. Prior to joining Nixon Peabody LLP, Eliot was an associate with Cannon Heyman & Weiss, LLP, a NY-based housing & community development law boutique, where he focused his practice on finance and development of market-rate and affordable housing, including representation of tax credit investors in the acquisition of equity interests in affordable housing developments and syndication of resulting tax benefits to upper-tier investors.
Eliot has a Bachelor of Science degree in Economics from Bradley University’s Foster College of Business and received his Juris Doctorate, with honors, from the University of Buffalo School of Law, where he first began working in the affordable housing industry as a member of the Law School’s Affordable Housing and Community Economic Development Clinics.