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Residential

Affordability, stability, self-reliance, and a brighter future.

Pedcor’s innovative approach to financing real estate transactions enables us to serve each community with a custom-tailored housing solution. We offer a variety of affordable and market rate rental housing options designed to fit any budget.

Residential

Every household deserves access to basic needs including quality education, healthcare, food, and stable, affordable housing. For more than three decades, Pedcor has built affordable housing in areas of opportunity where a community’s essential workers can live, work, and play. The result — a higher quality of life for more independent living and the ability to save for tomorrow.

1 in 3 households in the US pay more than 30% of their income to housing

The U.S. is expecting to add 400,000 renters per year between 2018-2028

85% of renters and other potential homebuyers lacked the savings for a 3.5% down payment

Source: Harvard State of Nations Housing 2019

The Retreat on Washington | Indianapolis, IN

A place to proudly call home

Our construction and design teams have ensured that each property’s style and layout seamlessly complements a vibrant multifamily community.

We understand that the environments we create impact our residents’ sense of stability and overall outlook, and that’s why we put so much care and attention into the details of each apartment home.

The Retreat on Washington | Indianapolis, IN

A stepping-stone to homeownership

Why? Because it’s woven into the American Dream, and we believe it can and should be attainable. High-quality affordable housing offers each resident the ability to save for their future under a well-balanced budget. We offer a variety of resources and educational opportunities at our communities to give each person the tools they need to make smart financial decisions for their future.

Residential Development Team

Get to know the Pedcor Investments (PILLC), Village Capital Corp. (VCC), and Pedcor Housing Corp. (PHC) teams.

Pedcor Investments, A Limited Liability Company

Pedcor Investments, formed in 1987, developed Indiana’s first affordable housing community. Today, it’s one of the nation’s largest developers of affordable multifamily housing with projects spanning coast to coast.

Executive Team

Legal

Development

Finance

Engineering

Design & Aesthetics

RETAS

The Real Estate Tax and Support (RETAS) department provides annual reports to state and county assessors in addition to reviewing and appealing (if necessary) all real estate assessments on behalf of the Pedcor Companies to ensure each community pays its fair share of taxes. RETAS is also responsible for Pedcor and its affiliate’s portfolio, minute book maintenance and election of officers, HUD and corporate compliance, and HUD affidavits including inspection issues, critical and non-critical repairs, and EH&S findings, and serving as the HUD APPS coordinator. Licensing and annual renewals are handled by RETAS on behalf of Pedcor Companies Management Entities.

Development Support

Gerald K. Pedigo

Chairman

Mr. Pedigo has been involved in residential and commercial real estate development since 1958. He attended Butler University and subsequently was employed in the business of single-family construction and sales.

In 1962, Mr. Pedigo began his own firm while constructing approximately 400 homes and expanded his business to include commercial and industrial activities. Beginning in 1966, Mr. Pedigo concentrated on the commercial side of the construction business, forming Gerald K. Pedigo Corporation to provide real estate development services; Pedigo Construction Company, Inc. to provide construction services; and Pedigo and Associates to provide management services. His involvement included all facets of the industry including construction, ownership, marketing/leasing and management. He completed over 100 commercial and office buildings from $100,000 to $8,000,000. He was also a partner in several partnerships that owned and developed commercial and residential properties in Indiana, Florida, and Tennessee.

In 1986, as the tax shelter incentives were being revised, Mr. Pedigo sold the majority of his holdings and concentrated on general construction. In 1987, he joined Bruce Cordingley in forming Pedcor Investments to pursue affordable housing development.

Mr. Pedigo is a Director of the Executive Committee of International City Bank, (Long Beach and San Diego, California) and Director of Fidelity Federal Bancorp (Evansville, Indiana). He is Chairman of Pedcor Bancorp, the bank holding company for International City Bank, and Pedcor Financial, LLC, the holding company for United Fidelity Bank. He is a member of the Murat Shrine in Indianapolis and various trade associations as well as godfather in St. Mary’s Child Center.

Bruce A. Cordingley

President & CEO

Bruce Cordingley is the President and CEO of the Pedcor Companies, a privately held group of over 200 companies, engaged in: (i) the development, construction, ownership and management of real estate and (ii) in finance and insurance. The Pedcor Companies started their activities in 1987 developing affordable housing in Indianapolis, Indiana.

The Pedcor Companies currently have over 950 employees located in twenty states with 200 employees located at its headquarters at Pedcor Square in Carmel, Indiana. The Pedcor Companies own and manage over 20,000 apartments which they had previously developed and built. The Pedcor Companies also include two bank holding companies, two savings banks, and an insurance company. In a public/private partnership with the City of Carmel, the Pedcor Companies have developed in Carmel’s new City Center and in the Arts and Design district several Georgian style developments including: Carmel City Center (a mixed use midrise development), Pedcor Square (an office campus), The Indiana Design Center (one of 20 design centers in the U.S.) and the Old Town Shops (in the Arts District).

Bruce had previously been a partner with the law firm of Ice Miller specializing in real estate development and finance until 1990 when he left to spend full time on The Pedcor Companies. He served in the U.S. Army as a reserve officer until 1976 when he was honorably discharged as a Captain.

Bruce received his BSIM in Industrial Management (Purdue University, 1968), Juris Doctor (Harvard Law School, 1971), MA in Economics (Indiana University, 2002), completed Graduate courses in Mathematical Finance (Oxford University, 2002-2003), and an MS in International Finance (University of Maryland, 2006). He is a member of the bar in Indiana and Massachusetts and is a licensed real estate broker.

Bruce is happily married to Denise Cordingley (formerly a French teacher at Park Tudor), and they have three children, Alison (a real estate developer with The Pedcor Companies), Desiree (a money manager with Bessemer Trust in New York City), and Exton (formerly a Captain and JAG officer in the U.S. Army), and four grandchildren.

Phillip J. Stoffregen

Executive Vice President & COO

Mr. Stoffregen has been involved in commercial and residential development and financing since 1984. He graduated in 1980 from Indiana University (BS-Business Finance) with departmental honors. In 1981 he received his MBA degree from Indiana University (Financial Economics). In 1984 he graduated with Honors from the Indiana University School of Law and joined Ice Miller Donadio and Ryan, Indianapolis, Indiana, as an associate, becoming a partner active in both the Real Estate and Municipal Finance Sections of the firm in 1991. His legal practice focused on taxable and tax-exempt financing for, and development of, single-family and multifamily housing. Mr. Stoffregen served in a bond counsel capacity to the Indiana Housing Finance Authority and other Indiana issuers for various housing related tax-exempt bond-financing programs. He represented numerous for-profit and not-for-profit multifamily housing developers, lenders and investors, primarily in the area of low income housing tax credit, financing and development issues.

In 1992, Mr. Stoffregen withdrew from Ice Miller and joined Pedcor Investments, LLC as a Principal where he is directly responsible for apartment development, construction and financing activities. Pedcor Investments, LLC and its affiliates have developed in excess of 21,000 apartments since inception, most of which participate in the low income housing tax credit program. He is currently Executive Vice President and COO of Pedcor Investments, LLC.

Mr. Stoffregen is a Director/Member of the Executive Committee/Executive Vice President of Fidelity Federal Bancorp which is the holding company for United Fidelity Bank, Evansville, Indiana and a Director/Executive Vice President of Pedcor Capital, LLC and Pedcor Financial, LLC, which are upper tier bank holding companies for International City Bank, Long Beach, California and United Fidelity Bank, respectively. Mr. Stoffregen and his partners in Pedcor Investments, LLC own and control such bank holding companies.

In 2015, Mr. Stoffregen began his tenure on the Board of Directors for The Affordable Housing Tax Credit Coalition (AHTCC), a trade organization for affordable rental housing that seeks to preserve, expand and improve the Housing Credit and complementary programs through legislative outreach and education. Since 2012, Mr. Stoffregen has served on the Urban Land Institute (ULI), a nationally recognized organization in the fields of development, land use and urban planning, where he is a member of the Affordable/Workforce Housing Council. Mr. Stoffregen also served as a director of the Martin Luther King Community Development Corporation (1991 to 2000), and as a member of the board of directors for Coburn Place Safehaven, Inc., a not-for-profit operating transitional housing for victims of domestic violence (1996 to 2012), serving stints as Board Chairman for both groups.

Doug Boggs

Executive Vice President, CFO & Treasurer

Mr. Boggs graduated from Ball State University in 1992 (BS – Accounting). He started his career with Pedcor Investments, LLC as a Staff Accountant in 1993.  In 1995, Mr. Boggs went to work for Simon Property Group, the largest REIT in North America at the time, where he worked for three years holding both Staff & Senior Accountant roles. In 1998, Mr. Boggs was re-hired by Pedcor Investments, LLC as an Assistant Controller and was later elevated to CFO in 2006 where he presently serves in the same role.  Mr. Boggs has over 25 years of residential and commercial real estate accounting experience.  In 2019, he was named the CFO of Pedcor Financial, LLC, the upper tier bank holding company for United Fidelity Bank, fsb (Evansville, IN) and Pedcor Capital, LLC, the upper tier bank holding company for International City Bank (Long Beach, CA).  Mr. Boggs oversees the Real Estate & Bank Holding Company accounting operations for the Company, which includes approximately 40 staff members.

Thomas G. Crowe

Executive Vice President – Development & Finance

Mr. Crowe graduated from the University of Notre Dame in 1988 (BA – Accounting). He worked for NBD – First Chicago Corporation for approximately eight years as a commercial lender in several departments, leaving as a Second Vice President. His responsibilities during his tenure at the bank included lending to real estate developers, builders, commercial contractors and architects/engineers. Additionally, Mr. Crowe was responsible for underwriting of the bank’s investment in limited partnership interests for affordable housing. Mr. Crowe joined Pedcor Investments in 1996 and has since advanced to Executive Vice President. During his tenure with Pedcor, Mr. Crowe has been responsible for the development and financing of thousands of apartment units in multiple states. Mr. Crowe has served as a guest panelist for the Urban Land Institute, the Nebraska Investment Finance Authority, and the Illinois Housing Development Authority. His responsibilities include oversight of all aspects of apartment development transactions, including site selection, financial feasibility, plan production, debt and equity procurement, partnership agreement negotiation, legal documentation and investor relations.

Jared M. Houser

Executive Vice President – Development & Finance

Mr. Houser graduated from the University of Indianapolis in May 2002 and received his M.A. in Economics from Indiana University (Indianapolis) in 2007. Prior to joining Pedcor his experiences include 2-years as an analyst with a local community bank and serving the 2005 session as an intern financial analyst for the Indiana House Ways & Means Committee.

Mr. Houser joined Pedcor as an intern during graduate school in April 2005 and accepted a full time position as a financial analyst with Pedcor Bancorp in August 2005. He accepted the position of Vice President with Pedcor Investments in October 2007 and has since been promoted to Senior Vice President overseeing the financial operations of Pedcor Investments and its affiliates. His responsibilities include, but are not limited to, development deal structuring, strategic capital management, and operational management and oversight.

In addition to his position with Pedcor Investments, Mr. Houser serves on the Interest Rate Risk and the Strategic Markets and Interest Rate Risk committees of United Fidelity Bank and International City Bank, respectively.

Susan E. Krohne

Senior Vice President & Chief Legal Counsel

Ms. Krohne graduated from Indiana University/Purdue University of Indianapolis in 1994 and earned a Juris Doctor degree from the Indiana University School of Law of Indianapolis in 1998. Prior to joining Pedcor in January of 2003, Ms. Krohne worked as a Vice President & Trust Officer in the Wealth Management Departments of both Bank One and National City Bank. Ms. Krohne is a member of the Indiana State Bar Association and Indianapolis Bar Association (IBA), and is a Distinguished Fellow of the Indianapolis Bar Foundation. She has served on the executive councils of both the IBA’s Women and the Law Division and the Young Lawyers’ Division as well as the IBA’s Executive Council.

Jeremy R. Buchanan

Vice President – Senior Legal Counsel

Mr. Buchanan graduated from Indiana University – Bloomington in 2004 and earned his Doctor of Jurisprudence from Indiana University School of Law – Indianapolis in 2008. Mr. Buchanan joined Pedcor Companies in 2004 as a member of Pedcor Bancorp. In that role, Mr. Buchanan assisted with multiple development projects involving the City of Carmel including the Carmel City Center, Indiana Design Center and Old Town Shops I & II. In that role he coordinated due diligence review for land acquisitions including title and survey matters. In addition, he has experience with retail lease negotiations, including landlord/tenant issues.

Mr. Buchanan joined Pedcor Investments as Vice President – Legal Counsel in July, 2014. Since joining the Development Team, his responsibilities again include in-depth due diligence review for land acquisitions; review and negotiation of complex finance agreements for the construction, development and refinance of low-income multi-family housing projects which include extensive experience with HUD 221(d)(4) & 223(f) programs as well as tax-exempt bond financings; and consultation with developers focusing within multiple states on project-based issues involving partnering with local housing authorities, structuring developments in order to utilize property tax exemption eligibility and securing necessary easements to satisfy development requirements relating to utilities and/or access rights.

Ryan Scheele

Legal Counsel

Mr. Scheele graduated from Indiana University – Bloomington in 2016 with a B.A. in Political Science and earned his Juris Doctor degree from Indiana University Robert H. McKinney School of Law in 2019. Ryan joined Pedcor Investments in 2020.

Tracey L. Da Silva

Vice President & Executive Legal Assistant

Ms. Da Silva graduated Summa Cum Laude from Indiana Wesleyan University in 2014 with a Bachelor of Science in Business Administration. She previously attended Indiana University-Purdue University at Indianapolis and International Business College. She joined Pedcor Investments in May, 1993 as an Administrative Assistant, was later promoted to Development Assistant and then to Vice President of Development. In 2002, Ms. Da Silva started her own real estate business and became a real estate agent for RE/MAX Preferred and the Sycamore Group. She returned to Pedcor in 2005. All of these positions have given her experience and insight into multiple aspects of real estate transactions and the development process, and she currently utilizes these skills as a member of the legal department. Prior to working for Pedcor, she worked in the auditing and actuarial departments of the American United Life Insurance Company.

Caitlin Burgess

Vice President & Paralegal

Craig H. Lintner

Senior Vice President – Development

Mr. Lintner has been involved in residential development and engineering since 1994. He graduated from Iowa State University in 1994 with a BS in Civil Engineering and joined Landplan Engineering of Lawrence, KS working as a Project Engineer and Project Manager. In 1997, Mr. Lintner began working at Simmons Development Corporation as Vice President of Development developing residential and master- planned communities in the Kansas City metropolitan area. From 2001 to 2004, Mr. Lintner worked for Dura Builders, Inc. in Indianapolis, IN as Land Development Coordinator. In 2004, Dura Builders was acquired by KB Homes and Mr. Lintner’s responsibility expanded to Director and eventually Vice President of Land Acquisition and Planning. During this time, he directed all aspects of acquisition, purchase agreements, entitlement, due diligence, corporate land packages and development.

Mr. Lintner joined Pedcor in 2007 and has since advanced to Senior Vice President. During his tenure with Pedcor, Mr. Lintner has been responsible for the development of thousands of apartment units in multiple states. In 2013, Mr. Lintner was appointed Vice President of Village Capital Corporation where he assists in the development of their real estate.

Mr. Lintner is a registered Professional Engineer in Indiana and holds a State of Indiana Real Estate Salesperson License. He is a Board Member of the Hawthorne Community Center in Indianapolis.

Michael S. Smith

Senior Vice President – Development

Mr. Smith is a graduate of Michigan State University, School of Business. He has nearly 30 years of real estate experience with various Midwest development and property management firms including Cardinal Industries Inc., Lexford Realty, Equity Residential Trust, Thompson and Thrift Management, Inc., and J.C. Hart Apartments. Mike’s experience includes site and market evaluations, site development, entitlements, construction turnover, asset management and property management of a portfolio of over 10,000 units in 9 states. In November 2003, he joined Pedcor Investments as a Vice President of Development and holds both an Indiana real estate sales license and CPM designation from IREM.

Michael S. Byron

Vice President – Development

Michael S. Byron, Vice President – Development. Mr Byron graduated from Indiana University Bloomington in 1995 and earned a J.D. from the Valparaiso University School of Law in 1999. Mr. Byron joined Pedcor in October 2007, having previously worked as a staff attorney for the Indiana Department of Environmental Management, Office of Legal Counsel, Department of Enforcement, as well as an associate in the private practice of law for a local law firm focusing on litigation, real estate and environmental law. Mr. Byron served as the Director of Down Syndrome Indiana, Dads Appreciating Down Syndrome (DSI D.A.D.S.) for five-plus years. Mr. Byron remains actively involved in DSI D.A.D.S. and continues to assist and support fathers and families of individuals with Down syndrome on a regular basis. Mr. Byron also served as a member on the Indiana Advisory Board of Best Buddies Indiana for two years.

Brandon C. Delk

Vice President – Development

Mr. Delk graduated from the Kelley School of Business at Indiana University – Bloomington in 2010 with a dual B.A. in Real Estate Finance and Business Management. Brandon joined Pedcor Investments in July, 2010 and earned his MBA from the Kelley School of Business at Indiana University – Indianapolis in 2016.

Patrick J. Stoffregen

Vice President – Development

Mr. Stoffregen graduated with distinction from Indiana University – Bloomington in 2009 with a BA in East Asian Languages and Cultures and a Music Minor. He spent one year in Suzaka City, Nagano Prefecture on the Japan Exchange and Teaching Program as an Assistant Language Teacher. After returning to Indiana, Patrick joined Pedcor Investments in 2011 to develop affordable housing in Iowa, Minnesota, Tennessee, North Carolina, Illinois, and Colorado. Patrick is a numbers and technology guy as well, and he assists in keeping the Development Team on the bleeding edge.

Ryan M. Rodgers

Vice President – Development

Mr. Rodgers graduated from Purdue University in 1998 and earned a Juris Doctor degree in 2001 from Indiana University Maurer School of Law. Prior to joining Pedcor, Mr. Rodgers worked in the private practice of law in the areas of real estate and corporate litigation. Additionally, Mr. Rodgers was a principal in a local residential real estate company and holds a State of Indiana Real Estate Salesperson License.

Jean Latsha

Vice President – Development

Ms. Latsha holds a Bachelor’s Degree in Philosophy from the University of Texas at Austin and has been involved in affordable housing development since 2005. She was employed by the Cesar Chavez Foundation, a non-profit corporation, for six years as a project manager and new business manager. There she was responsible for the production of affordable housing development in Texas, from site selection through financing, construction, and lease-up, utilizing several different funding sources including LIHTC, HOME, USDA Section 514/516 funds, Neighborhood Stabilization Program, and HUD Section 202 funds. She joined the Texas Department of Housing and Community Affairs in February, 2012 as the Competitive (9%) HTC Administrator, and was promoted to Director of Multifamily Finance. In that capacity she was responsible for the application process and review, allocation, award and closing on all multifamily funding sources administered by the agency, including multifamily revenue bonds, low income housing tax credits, and direct loan (including HOME) funds.

Ms. Latsha joined Pedcor in 2015 and has facilitated an increased presence in Texas where she offices. She serves on the board of both the Texas Affiliation of Affordable Housing Providers (TAAHP) and Community Housing Resource Partners.

Turner Lesnick

Assistant Vice President – Development

Andrew H. Burroughs

Senior Vice President – Finance

Mr. Burroughs graduated from Indiana University in 1978 with a B.S. in Real Estate Administration. Mr. Burroughs worked for Merchants Bank/National City Bank of Indianapolis for over 9 years primarily responsible for placing construction and FNMA DUS permanent debt financing for market rate and affordable LIHTC rental housing. In 1995, he joined Bank One, Indianapolis, as Vice President of Community Development. His responsibilities included facilitating debt and equity investments for affordable 9% LIHTC rental housing, 4% LIHTC tax-exempt bond transactions and historic tax credit renovations for Community Reinvestment Act (CRA) purposes on behalf of Bank One and its related subsidiaries. In May, 2000, Mr. Burroughs joined Pedcor Investments as Senior Vice President to manage and service existing debt and equity relationships, manage bond arbitrage investments and establish new debt and equity relationships for each of Pedcor’s proposed developments. He is currently an independent Indiana licensed real estate broker and a Certified Commercial Investment Member (CCIM) candidate. He is also a past Chairman of the Local Advisory Council and member of the Project Review Committee for the Local Initiatives Support Corporation (LISC). LISC is a not-for-profit organization established to provide interim funding and/or grants to facilitate inter-city affordable housing, community development and economic development initiatives for independent community development corporations located within the Indianapolis MSA.

Kathleen M. Ramey

Vice President – Finance

Prior to joining Pedcor, Ms. Ramey had over 23 years of financial and accounting experience in the areas of construction, real estate development and property management. She received her Bachelor of Science in Accounting, with a minor in Computer Science, from Indiana State University in 1980. Kathleen served on the local chapter board of the Institute of Management Accountants from 1984 through 1989, and as chapter president from 1990-1991. Ms. Ramey began her employment with Pedcor Investments in May, 2004.

Dusty A. Israel

Vice President – Finance

Mr. Israel graduated from the University of Cincinnati’s College of Engineering with a BS in Civil and Environmental Engineering. Immediately following graduation, he became an onsite engineer for a major General Contractor on multiple hospital construction jobs around the country. He then joined the Procter and Gamble Company as a Global Facility Engineer supporting the company’s Fabric Care plants. While at P&G, Mr. Israel transitioned into a Finance career path and became an analyst for the company’s Chemical’s & Ingredients Purchases organization and in 2014 he earned his MBA from Xavier University with a focus in Finance. Mr. Israel joined Pedcor in the summer of 2014 as a Financial Analyst and is responsible for cash flow and capital management, cash and tax modeling, property budgeting and NOI analysis.

Susan M. Janssen

Vice President – Finance

Ms. Janssen graduated from the Indiana University Kelley School of Business in 1990 with a BS in Accounting. Immediately following graduation, she spent five months in Accra, Ghana West Africa working as a student intern for a local public accounting firm. Ms. Janssen has over 20 years of accounting and finance experience, having held various positions with Fortune 500 companies, including Plant Controller for The Gatorade Company (then a division of The Quaker Oats Company) and Financial Analyst at Stanley Black & Decker (formerly known as The Stanley Works) in Indianapolis. Ms. Janssen began her employment with Pedcor Investments in December, 2011.

Austin Gretencord

Financial Analyst

Phillip W. Bernard

Draw Coordinator

Mr. Bernard graduated from Ball State University with a B.S. in Accounting. Before joining Pedcor, he had 8 years of prior accounting experience in various industries including hotel management and development, HOA and rental management, and road construction.

Leo Milletary

Financial Analyst

Bruce E. Hagen, PE/RLS

Senior Vice President – Development

Mr. Hagen has been involved in civil engineering and surveying since 1980. He graduated from the university of Wisconsin-Madison in 1980 with a B.S. in Civil and Environmental Engineering and Surveying and joined Aerometric Engineering in Sheboygan, WI as a project surveyor where he worked in both the surveying and photogrammetric departments.

From 1993 to 2005, Mr. Hagen worked at Mid-States Engineering, Paul I. Cripe and EMH&T Engineers, all of Indianapolis, IN, in various capacities ranging from Project Engineer to Department Head. Most recently, he was the Manager of the Surveying Department at EMH&T Engineers where he directed the day to day activities of the surveying department and acted as the lead engineering designer and project manager for single family developments. In 2005, Mr. Hagen joined Pedcor where he is responsible for the coordination and review of the civil engineering design for all multifamily developments.

Kara Strickland, PE

Vice President – Development

Ms. Strickland has over fifteen years of site/civil design and real estate development experience. She graduated with her Bachelors of Civil Engineering from Auburn University in 1999, taking her first job with a national engineering firm in Atlanta, GA. She continued to develop her site engineering expertise when she moved to Indianapolis in 2001, ultimately obtaining her Professional Engineering Licenses in Indiana, Florida, and Colorado. Ms. Strickland developed a focus area of Low Impact Development (LID) and Sustainable Design during her time on the design side, as well as help establish a Site Design Department in a transportation heavy design firm. Ms. Strickland’s interest in the real estate development side came shortly after obtaining her licensure, and she quickly gained experience nationwide with her first job in Commercial Development at Kite Realty Group in 2005. Her experience encompasses the full development process, from site selection through construction, including design coordination and entitlements. Before joining Pedcor in 2016, her last role in Healthcare Development included implementing the Integrated Project Delivery process within her team, bringing the full design and construction team together for a more efficient project design and delivery. Ms. Strickland joined Pedcor as a Vice President in Development, where she is responsible for the coordination of the civil engineering design and entitlement process for projects, nationwide.

Jarreth W. Vance, PE

Vice President – Development

Mr. Vance hails from Australia where he studied a Bachelor of Engineering (Environmental) at the University of Wollongong, graduating with honors. He worked in the Environmental and Mining sectors and studied a Master of Urban and Regional Planning at the University of New England as well as Business Foundations at the Melbourne Business School. After relocating countries to his wife’s hometown in Indiana, Jarreth worked in civil site development and water resource capacities at consulting firms EMH+T and The Veridus Group. Mr. Vance lead The Veridus Group’s Engineering Department as Director before joining Pedcor in 2020.

Pamela Pedigo Delk

Principal Of Design & Aesthetics

Ms. Delk graduated from Ball State University with a B. A. in Management Information Systems, Marketing with an Interior Design Interest, and an Interpersonal Relations Minor. Her interest in real estate and interior design began at an early age, as she watched her father develop and build homes and her mother decorate the models. After college, she took a development position at St. Francis Hospital, assisting in the computerization of the hospital’s disease-tracking system, disaster recovery plan, and human resources and communication departments. This led to a position as a recruiter with Infotech Computer Systems. After time off to raise her three children, Ms. Delk took a position as an Interior Designer with a local gallery, where she was a member of the design team specializing in Residential Décor and Show Homes. In 2003, Ms. Delk founded her own Residential Design and Décor company, assisting clients with the selection of furniture, lighting, materials, finishes, and accessories. Ms. Delk joined Pedcor as Aesthetic Director in 2016, where she is responsible for creating and implementing the overall design aesthetic for all Pedcor clubhouses, models and individual apartment units for both new construction and remodels. Pam works closely with the project managers, management team, and outside vendors to determine style, color palette, space requirements, and layout – as well as selecting all indoor and outdoor furnishings, lighting, and décor materials. Ms. Delk’s greatest pleasure is creating functional, safe, and beautiful spaces that meet both Pedcor’s vision and the needs of its various apartment communities.

Maureen M. Hougland

Senior Vice President & Secretary

Born January 5, 1958, Ms. Hougland has over 34 years real estate experience since graduating from Indiana University in 1980 (BS – Biology). Her real estate background began when she was hired as the pilot employee for Monroe County Land Title Co., Inc. upon its formation in 1980, where she performed a multitude of duties which included searching titles, examining chains of titles, reviewing surveys, closing residential and commercial transactions and serving as escrow agent for financial institutions distributing draws on behalf of residential and commercial developers. Ms. Hougland joined the Real Estate Section of Ice Miller Donadio & Ryan in 1984, where she provided paralegal support for the Section which represented commercial and multi-family real estate developers, lenders and investors, primarily in the areas of financing and development issues.

Ms. Hougland obtained her Paralegal Degree from Indiana University in 1988. She is a member of the Indiana Paralegal Association. In 1994, Ms. Hougland joined Pedcor Investments where she provided paralegal support to Pedcor and its related affiliates. Ms. Hougland is now responsible for all real estate tax appeals and assessments in Pedcor’s portfolio as well as all of its affiliates in addition to providing support to Development, Management and Signature, Construction, LLC. Ms. Hougland has served as a panelist for the Indiana Housing Finance Authority. She serves as a corporate officer for Pedcor and all of its affiliates, and is currently a member of the Board of Directors of Pedcor Affordable Management, Inc., Anderson Hall Homeowner’s Association, Inc. and past Board member of the Sommerwood Homeowners Association, Inc. She was a charter member of the Indianapolis Chapter of CREW (Commercial Real Estate Women) and is a member of NAPW (National Association of Professional Women). Ms. Hougland serves on the Legislative Committee of the Indiana Apartment Association and resides in Carmel, Indiana.

Lindsey Shook

Vice President & Assistant Real Estate Tax Manager

Heather L. Bennett

Assistant Vice President & Administrative Assistant

Ms. Bennett graduated from Pensacola Christian College in 2009 with a B.S. in Legal Office Administration. She joined Pedcor Investments in 2011 where she works as an Administrative Assistant in the Development department. Prior to joining Pedcor, Ms. Bennett was a Customer Service Representative for Pitney Bowes in the Indianapolis law firm of Barnes & Thornburg.

Kathleen (Kitty) Barbaglia

Vice President & Office Administrator

Ms. Barbaglia started with Pedcor in April, 1997 as an Administrative Assistant. She advanced to Development Assistant in June, 1999. Kitty works extensively with in-house developers assisting in all aspects of multifamily development, financing and construction related activities. Ms. Barbaglia is also responsible for working directly with the development finance team to obtain, track, and coordinate documentation required by HUD in preparation for new construction developments and the refinance of various Pedcor properties. In January, 2010 Ms. Barbaglia was given an additional supervisory role as Office Administrator, where her added responsibilities include coordination of the development group’s benefits, maintenance of employee records, implementation of new hire personnel documentation, scheduling of human resource training, and administration of all office supplies and maintenance. She has been a member of Indianapolis Commercial Real Estate Women (IndyCREW) since 2005, and served on the Board of Directors from 2009-2011. Ms. Barbaglia enjoys golf in her free time. She has also been a member of the Executive Women’s Golf Association (EWGA) since 2007, and has served on the Board of Directors from 2008-2010.

Debra A. Myers

Vice President

Ms. Myers joined Pedcor Investments in August of 2004 as a legal assistant with 8 over years of experience in bankruptcy, litigation, and real estate from her previous positions at local Indianapolis law firms. She also brings real estate and property tax knowledge from her 10 years as a Licensed Real Estate Broker. She provides legal assistance to the Development team.

Karen Dillon Roth

Development Assistant

Ms. Roth graduated from Indiana University with a B.A. in Telecommunications and Forensic Studies. She began her career as a television news journalist, working 10 years as an award-winning TV anchor, reporter and producer at NBC and CBS affiliates in Ohio and Indiana. She then moved into marketing and event management, serving as Director of Public Relations and Communications for the White River Park Development Commission in Indianapolis (1986-89) and Director of Media Relations for the GTE/U.S. Men’s Hardcourt Tennis Championships (1987-89). Ms. Roth also served on the public relations committees for the Pan American Games (1987), the AAU Sullivan Awards (1986-88), and the White River Park State Games (1987-89).

After time off to raise her children, Ms. Roth accepted a position in 2000 with the Sapp Companies, serving in a variety of capacities including Director of Public Relations, Account Manager, and Office Manager. She served as Director of Advertising for ASO Magazine from 2004-2007.

Ms. Roth joined Pedcor in 2007, where her current responsibilities include assisting in the preparation of investment proposals and applications, conducting market surveys, and providing overall office and administrative support to the development team.

Cheryl E. Bruin

Development Assistant

Ms. Bruin joined Pedcor Investments in 2005 as a Development Assistant. Prior to joining Pedcor, she was Executive Assistant to the President of Banking at Old National Bank. Ms. Bruin holds an Associate’s Degree in Office Administration and has over twenty years of experience as an Executive Assistant.

Kristine Ramey

Finance Assistant

Nasair William Plane

Administrative Assistant

Mr. Plane attended Indiana State University and plans to pursue a degree in Sales Management. He spent more than a year as an Engagement Specialist for Startek INC, responsible for Sprint’s international telecommunication services. Mr. Plane joined Pedcor in 2016 as an Administrative Assistant, where his responsibilities include conducting market surveys, entering invoices, filing deal documents, and providing additional help to the development division.

Village Capital Corporation

Village Capital Corporation (VCC) is a wholly-owned subsidiary of United Fidelity Bank, fsb, formed to develop, finance, and construct affordable housing. VCC also develops and constructs new market rate apartment units and affordable acquisition/rehabilitation projects throughout the United States.

Pedcor Housing Corporation

Pedcor Housing Corporation (PHC) is a wholly-owned subsidiary of International City Bank formed to develop, finance, and construct affordable housing. PHC also develops and constructs new market rate apartment units and affordable acquisition/rehabilitation projects throughout the United States.

VCC Executive Team

PHC Executive Team

VCC/PHC Legal

VCC/PHC Development

VCC/PHC Accounting & Finance

VCC/PHC Development Support

Donald R. Neel

President & CEO

Mr. Neel serves as President and CEO of Village Capital Corporation.  In addition to his roles as President of CEO of parent-company United Fidelity Bank, Neel serves as President and CEO of first-tier holding company, Fidelity Federal Bancorp.  Neel joined the company in 1993 as Senior VP and Chief Financial Officer. In the past 6 years, the Company has expanded dramatically, increasing its total assets from $135 million to $1.3 billion.  During that time, Village Capital Corporation has developed, acquired, and/or financed multifamily affordable housing across the country. Prior to joining the Company, Neel worked for Peoples Savings Bank in 1987 following a three year stint with the public accounting firm, BKD LLP.  Neel is a 1985 graduate of the University of Southern Indiana and completed Indiana CPA examination requirements in 1987.

Alison S. Birge

Executive Vice President

Ms. Birge directs multi-family development for Village Capital Corporation and Pedcor Housing Corporation. She joined Village Capital Corporation in 2015 to grow the company’s multi- family development activities across the country, including Indiana, Minnesota, Colorado, North Carolina and Texas. She joined Pedcor Investments (an affiliate of Village Capital Corporation and Pedcor Housing Corporation) as a developer in 2004. During her tenure with Pedcor Investments, Ms. Birge developed affordable housing communities in Tennessee and Iowa.

Prior to joining the Pedcor Companies, Ms. Birge worked for Toyota, Conseco and Frito-Lay. Ms. Birge earned an M.B.A. from the University of Michigan’s Ross School of Business in 2004. She earned a B.A. from Georgetown University in 1996.

Melissa Averitt

Senior Vice President

Joining Pedcor in January of 2005, Ms. Averitt acted as legal counsel to Pedcor Bancorp orchestrating financial transactions with Pedcor affiliate entities on projects and transitioned to marketing and leasing in the summer of 2005. She is now Senior Vice President for Pedcor overseeing their marketing and leasing department, working with businesses and individuals who have interest in Pedcor-developed projects in Carmel, Indiana. In 2014, Ms. Averitt joined Village Capital Corporation to assist in documenting safety and soundness in their multi-family development activities as well as assisting in acquisition rehabilitation projects in which the company makes investments. Ms. Averitt, born and raised in Indianapolis, graduated Cum Laude from Xavier University in Cincinnati, Ohio. She worked at Merrill Lynch, where she held her Series 63 and Series 7 designations while attending law school at the Robert H. McKinney School of Law, graduating and passing the Indiana bar in 2001.

Alison S. Birge

Executive Vice President

Ms. Birge directs multi-family development for Village Capital Corporation and Pedcor Housing Corporation. She joined Village Capital Corporation in 2015 to grow the company’s multi- family development activities across the country, including Indiana, Minnesota, Colorado, North Carolina and Texas. She joined Pedcor Investments (an affiliate of Village Capital Corporation and Pedcor Housing Corporation) as a developer in 2004. During her tenure with Pedcor Investments, Ms. Birge developed affordable housing communities in Tennessee and Iowa.

Prior to joining the Pedcor Companies, Ms. Birge worked for Toyota, Conseco and Frito-Lay. Ms. Birge earned an M.B.A. from the University of Michigan’s Ross School of Business in 2004. She earned a B.A. from Georgetown University in 1996.

Melissa Averitt

Senior Vice President

Joining Pedcor in January of 2005, Ms. Averitt acted as legal counsel to Pedcor Bancorp orchestrating financial transactions with Pedcor affiliate entities on projects and transitioned to marketing and leasing in the summer of 2005. She is now Senior Vice President for Pedcor overseeing their marketing and leasing department, working with businesses and individuals who have interest in Pedcor-developed projects in Carmel, Indiana. In 2014, Ms. Averitt joined Village Capital Corporation to assist in documenting safety and soundness in their multi-family development activities as well as assisting in acquisition rehabilitation projects in which the company makes investments. Ms. Averitt, born and raised in Indianapolis, graduated Cum Laude from Xavier University in Cincinnati, Ohio. She worked at Merrill Lynch, where she held her Series 63 and Series 7 designations while attending law school at the Robert H. McKinney School of Law, graduating and passing the Indiana bar in 2001.

Jason Schnellenberger

Vice President & Counsel

Abigail G. Frantz

Senior Vice President & Secretary

Troy C. Meyers

Assistant Vice President – Development

Anthony Gary

Assistant Vice President – Development

Allie Brown

First Vice President & Chief Financial Officer

Ms. Brown graduated from the Krannert School of Management at Purdue University with a degree in Accounting in 2009 and obtained her CPA in 2012. Ms. Brown joined Pedcor in March of 2016, having previously worked as a controller and operations & compliance manager for a wealth management company based in Savannah, GA, as well as a corporate accountant for a healthcare company that constructed and operated behavioral healthcare facilities.

Cole Leamnson

Assistant Vice President – Finance

Ben Pearce

Senior Accountant

Mr. Pearce graduated from Indiana University in 2012, earning two Bachelor of Science degrees in Accounting and Finance. Mr. Pearce joined the Pedcor family in March of 2013, having previously worked as a finance intern for Indiana Sports Corp. Mr. Pearce worked as a staff accountant at Pedcor Investments for 5 years before joining Village Capital Corp in May of 2018 as a Senior Accountant. Currently, Mr. Pearce reviews monthly financials, prepares construction draws, and creates the annual audit.

Margaret Harrah

Senior Accountant II

Danielle Vansickle

Staff Accountant

Annie Gold

Accounting Assistant

Ms. Gold graduated with a Bachelor’s degree in Urban Affairs / Political Science and has an interest in community development. She joined Village Capital Corporation in October of 2019 to assist with this growing division of Pedcor Companies.

Prior experience includes working in the Mergers and Acquisitions department within corporate banking.

Niki K. Snyder

Development Assistant

Pedcor is a very reputable organization and responsible corporate citizen that adds substantial value to the communities where they develop. A community should welcome them. I don’t know if there’s ever been a workforce housing development better than the one they developed in Crystal Lake, IL [referring to Congress Parkway Apartments].

– Tom Burney, Zoning Attorney, Law Offices of Thomas R. Burney, LLC
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