McCormack Baron Salazar promotes Cady Seabaugh to Senior Vice President, Director of New Markets Tax Credits and Strategic Initiatives
McCormack Baron Salazar (MBS) is pleased to announce the promotion of Cady Seabaugh to Senior Vice President, Director of New Markets Tax Credits and Strategic Initiatives. Seabaugh will be the senior executive responsible for all aspects of the MBS Urban Initiatives Community Development Entity program, including pipeline building, underwriting, closing, compliance, asset/portfolio management, accounting and development of community outreach programs and all other matters related to the MBS New Markets Tax Credit (NMTC) initiative. Seabaugh will continue to consult on special initiatives, including sustainability and federal funding efforts.
“Cady is passionate about forwarding the McCormack Baron mission of transforming places into communities – and is dedicated to bringing new resources and opportunities to areas that have been long neglected by traditional forms of investment,” said Vince Bennett, President and CEO of McCormack Baron Salazar. “She has made an exceptional impact on the company and our communities and will continue to do so in this new role.”
Seabaugh has been actively involved in MBS’s NMTC program since its inception, including the majority of the CDE’s NMTC allocation applications. She has led five NMTC applications totaling $200 million in allocation. Seabaugh also served as the lead project manager during the structuring of the $10 million St. Louis Housing Authority HUD/NMTC project to retrofit more than 500 kW of solar photovoltaic panels on existing affordable housing sites and has worked to source and structure additional projects for the CDE.
Seabaugh has more than 16 years of success in urban community development. Since she joined MBS in 2006, she has led 15 successful Choice Neighborhood Initiative (CNI) implementation grant master planning efforts and applications, totaling over $454 million in HUD grants and resulting in over $4.3 billion in investment in previously distressed communities. She served as associate project manager for the $160 million Harmony Oaks, a 460-apartment, mixed-income, affordable housing community in New Orleans, and wrote three successful HOPE VI grants and three CFRC/ARRA grants. Since 2010, Ms. Seabaugh also has led MBS’s communications and sustainability efforts. As a LEED Accredited Professional, she has become a nationally recognized expert in affordable green and healthy homes. Under her leadership, MBS has certified over 5,000 green homes under LEED, Enterprise Green Communities and Energy Star for Homes.