Clients of the Firm

S.B. Clark Companies’ target market is public entities and non-profit corporations. Following is a representative list of S.B. Clark Companies’ clients since the firm’s inception in early 2001. We encourage parties to talk to our clients; reference contact information is available upon request.

Financial Advisor for:

	Housing Authority of the City of Vancouver, WA
	Santa Fe Civic Housing Authority, NM
	Boulder Housing Partners, CO
	Littleton Housing Authority, CO
	Boulder County Housing Authority, CO
	Main Street Power, CO
	Denver Health and Hospital Authority, CO
	Spokane Housing Ventures, WA
	Steven-Roberts Originals, LLC, CO
	Spartanburg Housing Authority, SC
	Housing Authority of the City of Pueblo, CO
	Housing Authority of the City of Pittsburgh, PA
	Housing Authority of the City of Milwaukee, WI
	Turnstone Development Corp. (An entity of Cook County Housing Authority), IL
	Portsmouth Redevelopment and Housing Authority, VA
	Denver Housing Authority, CO
	Helena Housing Authority, MT
	Montana State University, MT
	Aurora Housing Authority, CO
	Mercy Housing Southwest, Inc., CO
	Peak Properties & Development Corp., CO
	State Board of Colorado Great Outdoors Trust Fund, CO
	Littleton Public Schools, CO
	National Jewish Medical and Research Center, CO
	University of Colorado Hospital Authority, CO
	Exempla Healthcare, CO
	NCMC, Inc. (formerly North Colorado Medical Center, Inc.), CO
	Bayaud Industries, Inc., CO
	Boulder Housing Coalition, CO
	St. Vrain Valley School District, CO
	Mesa County Valley School District, CO
	Chemical & Metal Industries, Inc., CO
	Auraria Higher Education Center, CO
	West Metro Fire Protection Distrcit, CO

Fairness Opinion provider for:

	Albany Housing Authority, NY
	Alexandria Housing Authority, LA
	Benton Public Housing Authority, AR
	Bloomington Housing Authority, IN
	Bluefield Housing Authority, WV
	Bond County Housing Authority, IL
	Burrillville Housing Authority, RI
	Chickasaw Housing Authority, AL
	Cincinnati Metropolitan Housing Authority, OH
	Dumas Housing Authority, AR
	Enterprise Housing Authority, AL
	Fresno Housing Authority, CA
	Hammond Housing Authority, IN
	Indianapolis Housing Authority, IN
	Lincoln Housing Authority, RI
	Malden Housing Authority, MA
	Orlando Housing Authority, FL
	Parrish Housing Authority, AL
	Pineland Housing Authority, TX
	San Bernardino County Housing Authority, CA
	Sumiton Housing Authority, AL

C. Résumés

Stephen B. Clark, Principal

Mr. Clark has been in the professional practice of public finance for over 30 years. He currently leads his own business dedicated to providing high quality independent financial advisory services to public entities including governmental, healthcare, affordable housing, human service, research, and non-profit debt issuers. During his career, Mr. Clark has served a variety of public entity and non-profit clients both as a financial advisor and as an underwriter. He has participated in transactions totaling over $10 billion.

Prior to forming S.B. Clark Companies, Mr. Clark was Managing Director and Regional Manager for Public Finance with U.S. Bancorp Piper Jaffray for 11-years, helping launch and then overseeing their Denver office. Before that, Mr. Clark was employed with Boettcher & Co. for 13 years. During this time, Mr. Clark advanced from public finance analyst to Executive Vice President for Fixed Income. In the latter position, he oversaw the firm’s bond trading, underwriting, sales and public finance origination operations. He chaired the firm’s Commitment Committee, was a member of the firm’s Credit Committee, member of the firm’s Executive Committee, Director of the company and served as a Director of Kemper Capital Markets, an affiliated company also owned by Kemper Financial. During Mr. Clark’s tenure as an investment banker he obtained National Association of Securities Dealers licenses Series 7, 8, 24, 53 and 63.

Mr. Clark completed his B.A. degree at Prescott College in 1973 and his M.P.A. degree at the University of Colorado in 1977. Mr. Clark is a member of the Healthcare Financial Management Association, Colorado Chapter.

His volunteer activities include the following:

	Board of Directors and past President, past Treasurer, Senior Housing Options, Inc.
	Board of Directors and past Chair, Denver Health Foundation
	Board of Trustees and Treasurer, The Colorado Trust, a philanthropic foundation
	Board of Directors and past Chair, Downtown Denver Partnership
	Past Board of Directors and past Chair, Montana State University Foundation

John Lowry, Principal

Mr. Lowry has been a professional for over 30 years as a financial manager within the public sector for both city government and housing authorities and a private sector software company regional manager. Mr. Lowry has extensive experience in budgeting and financial modeling and reporting. In addition, Mr. Lowry has worked closely with Federal and State Agencies, including HUD, EPA, and others, in the implementation of different types of Governmental Grants.

Prior to his working with S.B. Clark Companies, Mr. Lowry was a Regional Manager for Creative Computer Solutions for 10 years, at that time, the largest provider of integrated software for the housing authority industry. In that position he was responsible for sales and implementation of computer systems for housing authorities across the western United States. Before his position with Creative Computer Solutions, Mr. Lowry was the Deputy Executive Director of Finance and Administration for the Denver Housing Authority, and in addition, served as Acting Executive Director for a period of time prior to his leaving. During Mr. Lowry’s tenure with the Denver Housing Authority he was responsible for upgrading the financial reporting, information systems and was one of the first, if not first, to receive the distinguished awards from the Government Finance Officers Association for both financial reporting and budgeting. Previous to his tenure at the Denver Housing Authority, Mr. Lowry was a Vice President of Global Systems for two years, and prior to that as the Assistant Director of Finance for the City of Englewood for 12 years.

Laura E. Clark, Senior Associate

Ms. Clark is a 2001 graduate of the University of Denver with additional graduate level work towards a Masters of Business Administration at the University of Colorado at Denver. Ms. Clark’s professional experience includes Project Assistant to the Denver HIV Resources Planning Council and Graphic Specialist at Mountain Financial Printing and Design Group.

Ms. Clark specializes in soliciting and negotiating LIHTC and NMTC equity and lending partnerships for clients. She develops complex financial proformas for various development scenarios. She also oversees the submission of each clients’ tax credit application to the appropriate allocating agency. Ms. Clark is working on her Rental Housing Development Finance Professional certification from the National Development Council and has completed the Downtown Denver Partnership’s leadership program. She has strong history of active volunteerism and is currently Treasurer of her homeowners’ association.

Barrett L. Lucero, Associate

Ms. Lucero is a 2003 graduate of the University of Denver after which she served in the Peace Corps in Burkina Faso as a science teacher. Returning to the U.S., Ms. Lucero served as Manager of Volunteer Programs for Metro Volunteers volunteer center in Denver. Ms. Lucero acts as coordinator of tax credit applications and finance due diligence and closing activities. She manages the firm’s office administration and accounting.