Double the Bonds, Double the Fun

Join us for an in-depth panel discussion on how the new 25% test for tax-exempt bonds is reshaping the Low-Income Housing Tax Credit (LIHTC) landscape in California. As demand for tax credit investor equity surges and the market softens, developers, lenders, and investors are rethinking their strategies — from how to prepare for the bond competition to how financing teams are assembled. What can you do to best position your project for a bond award and strong investor and lender partnership? Hear from the experts!

Whether you’re a developer, lender, investor, or housing policy advocate, this session will offer practical insights for navigating the evolving ripple effects of the 25% test change.

Registration for this training is free for current NPH members (2026).
The registration form will verify your membership based on the email domain you use to register. To check your organization’s membership status, visit our website or contact Oksana@nonprofithousing.org. To become a member, please click here for more information. For questions about this training, please contact Andrew@nonprofithousing.org.

Speakers Include

Claire Parisa, Enterprise Community Partners (moderator)

Claire Parisa is a Director of Originations at Enterprise Community Partners where she originates LIHTC investments across Northern California and Oregon. During her career Claire has contributed to the development and preservation of over 7,000 units of affordable housing totaling over $3B in financing. She also serves on the faculty at UC Berkeley’s College of Environmental Design where she teaches affordable housing development and finance.

Louis Liss, Eden Housing

Louis originally joined the Eden Housing Development team in 2018 and has worked on business development, ground-up new construction, development pipeline financing and policy. He currently serves as the real estate development department’s housing financing lead. Since joining Eden, he has overseen the acquisition of projects with over 400 units of new construction opportunity, and he has overseen the delivery of 130 units in Alameda, CA in two phases: a 60-unit Senior and Veterans project called Corsair Flats project and a 70-unit Family and Special Needs project called The Starling. Before working at Eden, Louis got his master’s degrees in city planning and real estate development, during which time he was a teaching assistant in economic development finance and conducted research for the Real Estate Innovation Lab and the Sloan School of Management. His master’s thesis examined the economics of adaptive reuse projects, affordable housing and commercial activation in challenging real estate development markets in Massachusetts. In addition to his work in affordable housing, Louis has held positions in infrastructure and economic development in municipal government at New York City Economic Development Corporation and San Francisco Municipal Transportation Agency.

Zorica Stančević, California Housing Partnership

Zorica Stančević rejoined the California Housing Partnership in 2017. As Senior Director, Financial Consulting – Housing Finance Training, Zorica provides financial consulting, technical assistance, and training to our nonprofit and government clients throughout California and leads the Partnership’s training division. Zorica brings more than 20 years of experience in affordable housing finance and development. She has experience structuring financing packages with Low-Income Housing Tax Credits and Tax-Exempt Bond financing, as well as a range of federal, state, and local programs, including local rental/operating subsidies. Zorica has directly contributed to the development or rehabilitation of over 2,500 units of affordable housing totaling more than $750 million in development costs.

Prior to rejoining the Partnership, Zorica spent two years as a Project Manager of Affordable Housing Tax Credit Investments with U.S. Bancorp Community Development Corporation where she underwrote and closed $157 million in Low Income Housing and Historic Tax Credit investments. Before her previous five-year tenure with the California Housing Partnership, Zorica worked as a Senior Project Manager with A Community of Friends where she managed the development of 250 supportive housing units and $115 million in financing. Zorica received a Master of Arts in Urban Planning with a specialization in Housing and Community Development from the University of California, Los Angeles and a Bachelor of Arts in Architecture from the University of Minnesota – Twin Cities.

Terence Cordero, Wells Fargo Community Lending and Investment

Terence is a managing director and senior relationship manager in Wells Fargo’s Community Lending and Investment Group. In this role, Terence is responsible for the origination, underwriting, and closing of Low Income Housing Tax Credit equity investments, which is the primary vehicle for the development of affordable housing communities in the nation through a public/private partnership that leverages federal funds with private investments. Terence has more than 20 years of experience in financial services. Prior to joining Wells Fargo, Terence was with the LIHTC acquisitions group at Enterprise Community Investment, where he underwrote and closed LIHTC investments for multifamily developments in New York City. Terence earned his B.A. in Philosophy from the University of California Los Angeles and M.S. in Public Policy and Management from Carnegie Mellon University. Terence completed a Public and International Affairs Fellowship at Princeton University. Terence resides in San Francisco with his wife and two children.