CFC Leadership Team
Board of Directors
PRESIDENT - MICHAEL HAMMOND
Founder, Cushman & Wakefield|PICOR
Commercial Real Estate Services, Tucson, AZ
Michael Hammond has been in commercial real estate since 1978 and formed PICOR Commercial Real Estate Services in 1985. Today, Cushman & Wakefield|PICOR is Tucson's largest independent commercial real estate brokerage and management firm. Mr. Hammond is extensively involved in community service and positions of leadership in professional organizations, including the Tucson Airport Authority (current vice-chair), Commerce Bank of Arizona, current board member and founding shareholder, Arizona Capital Source, current board chair, and the Southern Arizona Leadership Council, past chair and current board member.
Vice President - KATHLEEN PERKINS
External Advisor to EU, Photonics
As CEO of Tucson-based Breault Research Organization, Kathleen was instrumental in establishing Tucson as “Optics Valley.” Active in Tucson leadership, Kathleen chaired the University of Arizona BIO5 and Mathematical Sciences advisory boards as well as serving on the College of Science external advisory board.
In 2010 Kathleen was elected to the international www.SPIE.org board (Society of Photo-instrumentation engineers, or rocket science in layman’s terms). Drawing upon her background in global and multi-disciplinary sciences, Kathleen now serves the European Union as an external advisor.
Using all of the above, since 2010, Kathleen advocates for very low-income children, focusing on one of Tucson’s poorest schools, John B. Wright Elementary. A school where 20+ languages are spoken and 100% of its students qualify for free lunch. Through her CFC association, the following amenities have been added to JBW Elementary: ½ acre organic garden, professional running track, STEM lab, new basketball courts, as well as upgrades to the auditorium and library. These improvements provide enrichment to students whose caretakers have extremely limited funds (or time) for excursions beyond the neighborhood. The ability to make a positive impact in the lives of these children ranks high on the list of Kathleen’s greatest endeavors.
SECRETARY - KENDALL BERT
Senior Vice President, Regional Competitiveness,
Tucson Regional Economic Opportunities (retired)
Kendall Bert served as Economic Development Director for the City of Tucson since 1984, pursuant to which he was responsible for the coordination of City economic development activities, including manufacturing assistance, workforce development, business retention and expansion, neighborhood revitalization and film promotion. Mr. Bert recently retired from the regional economic development organization TREO, where he served as Senior Vise President with a focus on regional competitiveness, and now manages a small business that manufactures and sells agricultural products.
TREASURER - MICHAEL ARNOLD
Director, Engineering Management Programs (retired)
University of Arizona
Mike Arnold retired in 2014 as a Professor of Practice and Director of the Engineering Management Program at the University of Arizona. He is the 1978 founder and former CEO for 21 years of Modular Mining Systems, a Tucson, Arizona based software and electronics manufacturer targeting the mining industry. Komatsu, a large heavy equipment manufacturer, acquired the company in 1996. After Modular’s acquisition, he served as Associate Director of the Entrepreneurship program in the Eller College of Management at UA prior to joining the Engineering College. He continues to advise technology startup businesses.
Community Finance Corporation (CFC) has proven to be a valuable Tucson and Southern Arizona resource for a number of worthwhile charitable organizations. Mike focused his attention on supporting University of Arizona Engineering students with demonstrated financial need and academic ability. Tuition and other expenses have increased significantly over the years leaving many deserving students without the funds necessary to complete their education. Many of these students are the 1st in their families to ever attend college. CFCs generous financial support to the Engineering College has exceeded $400,000 and has enabled many engineering students to complete their education. My continuing interests include supporting the UA Engineering College and other worthwhile charitable causes made possible through the generosity of CFC.
TRUSTEE - KENNETH ABRAHAMS
Chairman of NexMetro Communities
In 2012 Ken Abrahams co-founded NexMetro Communities. NexMetro Communities sponsors and manages the development and operation of Avilla Homes residential rental neighborhoods. As Chairman and CEO Mr. Abrahams has guided the company’s growth and expansion into numerous major markets across the Sunbelt region.
Mr. Abrahams has been an owner, principal, investor, and founder of multiple business enterprises over 40 years. As a real estate professional Abrahams was a founding partner of Diamond Ventures, Inc., one of Arizona’s largest real estate firms with over $1.3 billion in assets. He directed real estate portfolio activities for the firm in diverse geographic markets.
Mr. Abrahams is also a private equity investor having made numerous investments in operating companies across many business sectors over the past several decades. Ken is co-founder and co-General Partner of Cadre Partners and Cadre Partners Fund, a private equity and business advisory firm, that has completed numerous principal investments in growth stage operating businesses and assisted numerous operating companies complete complex business transactions.
By nature, Abrahams is a “builder” who recognizes the importance of strategic thinking tempered by practical realities, forging market based solutions that can adapt to changing conditions. He is a strong leader, skilled in the assembly and management of highly qualified teams of professionals capable of efficiently implementing the plan and reaching established goals on a timely basis.
Through a practical integration of team building and keen implementation skills, Ken has consistently and successfully executed the project vision and delivered strong financial results.
Abrahams has worked to advance student achievement and improve the performance of public schools through such programs as Tucson Values Teacher, Lead Guitar and MAP Dashboard. Mr. Abrahams has served on the board of directors of Southern Arizona Leadership Council and is on the board of directors of Community Finance Corporation.
Abrahams is a member of the Urban Land Institute and numerous other industry organizations committed to real estate industry best practices.
CFC’s Very Important Contributors
Gary Molenda
CFC Designated Representative and President of the Arizona Capital Source
Mr. Molenda has over 35 years of architectural, real estate development, and project management experience, including 20 years representing Community Finance Corporation.
Mr. Molenda joined the non-profit Arizona Capital Source in 1987 as Community Development Group Manager and has served as its President since 1993. He also has oversight responsibility for ACS’s Community Development Group, whose clients include the non-profit Community Finance Corporation.
Karen Valdez
Program Manager
Karen serves as Program Manager for Community Finance Corporation (“CFC”) with principal responsibility for the Post Issuance Compliance and Tax Compliance.
CFC is the sole member of various limited liability companies (“LLCs”) which serve as borrowers pursuant to 501(c)(3) conduit bond financing structures. The majority of these securities are issued as tax-exempt obligations delivered by various conduit bond issuing authorities.
Ms. Valdez responsibilities for post issuance compliance and continuing disclosure vary widely from project to project. To facilitate the ongoing administration of its obligations, Ms. Valdez maintains a schedule, by tax-exempt bond issue, of the post issuance compliance responsibilities assumed by CFC under the bond documents.
Prior to assuming responsibilities with Community Finance Corporation, Ms. Valdez worked for Chicanos Por La Causa as a Loan Officer, First Magnus as a Residential Loan Officer, The City of South Tucson as Community Development Program Manager, and Business Development Finance Corporation as Accounts Manager.