(AUSTIN) — Cameron Dorsey, Director of Multifamily Finance for the Texas Department of Housing and Community Affairs (TDHCA), this month received national recognition from a prominent affordable housing trade publication as being one of seven notable individuals under the age of 40 making a positive impact on the industry. 

Affordable Housing Finance magazine named Dorsey a 2013 Young Leader, in part, for his technical understanding of complex federal housing programs, innovative program design, and the ability to mentor, empower, and develop his staff.

As Director of Multifamily Finance, Dorsey oversees some of the largest housing programs in Texas and in the nation, including the Housing Tax Credit and Multifamily Mortgage Revenue Bond programs, in addition to multifamily activities under the HOME Investment Partnerships (HOME) Program.

Dorsey began his career at TDHCA in May 2006 as an Associate Underwriter. In June 2009, he was promoted to HOME Program Manager. After receiving a promotion to Manager of Real Estate Analysis in February 2011, Dorsey was appointed to his present position the following September.

He currently administers a tax credit program that is one of most prolific in the nation at producing affordable rental housing. The Texas Housing Tax Credit Program this year will finance an estimated 5,100 units of affordable housing and has helped construct or rehabilitate more than 206,000 units since its first funding cycle in 1987.

TDHCA in 2013 had $59.3 million in credits to allocate, including unused credits from a national pool, an amount second only to the $85.5 million available this year to California. Due to relatively stable market conditions, property values and development costs, Texas is often able to produce a number of total units comparable to California.

Because private investors may benefit from the credits each year for 10 years and have purchased to date $58.9 million at 88 cents per credit dollar on average, the total value of this year’s allocation is projected to equal approximately $520.9 million.

Since 2008, Affordable Housing Finance magazine has honored men and women under 40 years of age ushering in new ways of delivering affordable housing through the disciplines of housing development, finance, law, accounting, and government program administration.

Dorsey is the second Department employee to be so honored in the past five years. Brooke Boston, currently the Deputy Executive Director for Program Planning, Policy and Metrics for TDHCA, also received this recognition in 2009.