LOS ANGELES — After five years as head of California's private activity bond allocation committee, Sean Spear is leaving to work as the managing director for a multifamily financing and municipal advisory firm.
Spear, executive director of the California Debt Limit Allocation Committee, will join the Arcadia, Calif. office of 1410 Partners, LLC on March 2.
"We are honored [Spear] is joining 1410 Partners," said John McAllister, the firm's founder and principal.
Over the course of his career, Spear has developed both new project financing structures for affordable housing preservation and implemented billion dollar governmental programs with the goal of improving the California economy, McAllister said.
During his five years at CDLAC, which operates under the California State Treasurer's Office, Spear has managed the allocation of more than $3.8 billion annually in private activity bonds. CDLAC is involved with bonds to support affordable housing projects, small business development, waste, recycling facilities and water projects. Spear also developed and implemented California's federally authorized Recovery Zone Bond and Qualified Energy Conservation Bond allocation programs, authorizing $1 billion through those programs. He has worked in successively more responsible roles in community development in New York, Los Angeles, Sacramento and San Francisco. He also worked at the Federal National Mortgage Association, better known as Fannie Mae.
McAllister, William Leach and the 1410 partners team have a long history of successfully advancing affordable housing and mixed-use projects, Spear said of his decision to join the firm.
