MANAGEMENT TEAM

The management team at Cornerstone is a tenured and impressive one. Four members of the Cornerstone Team have more than 30 years of hands-on experience in the various dimensions of real estate ownership – feasibility and market studies, development and construction, leaseup and profit maximization, as well as turning troubled properties.

Corporate owners & operators:

Steve Terry, CPM®, CAPS®, RIM®, RPM®

is the Chairman of IDG with Larry Kocherhans, CPM® as President. Steve and Larry have worked together since 1989 on the development of more than 28 apartment communities developing in total over $400 million of resident and commercial real estate.

Coming at real estate development from the property management perspective, both Messrs. Terry and Kocherhans develop new properties only in profitable markets and build products that will be a welcome addition to the market stock. IDG builds properties that will last and that provide an attractive, secure and inspiring home for our residents.

Larry Kocherhans , CPM®, President, IDG

Larry Kocherhans has an extensive 35 year background in real estate development and management. Over the past several years, Larry has been the President of IDG and a key member and partner in Cornerstone Residential.

IDG has developed, built, and currently owns 27 multifamily apartment communities. Mr. Kocherhans is fluent in the Spanish language and graduated from Brigham Young University with a B.S. in Business Management.

Lyman Adams , HCCP®, President, Cornerstone Residential

Lyman Adams has 23 years of professional management expertise. Lyman Adams is a writer and expert instructor in the field of IRS section 42 compliance which is an essential component in Cornerstone’s LIHTC property compliance and audit program.

Lyman specializes in complex financing, insurance and risk reviews, and minimizing property taxes for a portfolio of about $800 million. Lyman has extensive schooling in high mathematics and computer science from the University of Utah.

John Saltzgiver, Chief Financial Officer,

As CFO, John and his staff are responsible for 1) the accurate tracking and reporting of portfolio operations, and 2) an accurate tracking of individual asset performance, including timely payment of expenses and comprehensive reporting to the corporation.

John is in charge of all partnership compliance and reporting. This necessitates precise knowledge of all the partnership agreements and stipulations in order to meet each partner’s demands. Mr. Saltzgiver presently manages 45 partnership entities for Cornerstone.

Sheri Martin, Chief Executive Officer,

Sheri Martin has served in the upper echelons of corporate property management for more than 23 years involved primarily in acquisitions, dispositions and management. Working as an executive for BRE, Alliance, and AMC, Sheri combines the best of all her property management experience to effectively manage all client relations for Cornerstone. Contacting every client monthly, Ms. Martin guarantees that our client services are always equal to our clients’ needs. The recipient of many industry awards, Sheri graduated with a BS degree from the University of Utah.

Lisa Lynes, Chief Operating Officer,

                                                                                                                                                                                                                                                        

Emily Terry, Executive Vice President, Sphere Payroll Services,

                                                                                                                                                                                                                                                        

Tammy Godfrey, Chief Compliance Specialist,

Tammy is the Chief Compliance Director for Cornerstone Residential. She has over 16 years in the IRS Section 42 Low Income Housing Tax Credit business. Tammy’s responsibilities include the training of all management personnel in Section 42 compliance, maintaining an auditing system that insures total program compliance with Federal and State regulations, and assisting in the writing on a comprehensive Section 42 LIHTC manual. Tammy comes from a background of Senior Management in the property management business and comes to the compliance department with the management perspective of getting qualified applicants moved in as quickly as possible and thus creating an extremely quick turnaround policy. The combination of strong management background and expert LIHTC skills has created a most effective compliance team; Some of Tammy’s background includes having been closely involved in multiple acquisition rehab / conversion / resyndication projects, third-party management, and management of Section 42 LIHTC / Conventional / Section 8 communities.

Scott Gautney, Executive Vice President,

                                                                                                                                                                                                                                                        

BJ Caldwell, Regional VP of Operations,

                                                                                                                                                                                                                                                        

Jennifer Keen-Patterson, Regional VP of Operations,

                                                                                                                                                                                                                                                        

Ryan Kockerhans, Regional VP of Operations,

                                                                                                                                                                                                                                                        

Josh VanNoy, Regional VP of Operations,

                                                                                                                                                                                                                                                        

Linda Olsen, Executive Secretary,

13 years working in the property management industry as an Executive Assistant 31 years of experience in customer service and management for Mountain Bell – US West – Qwest in telephone-related ordering, billing and service functions. Linda Kae graduated from Box Elder High School in Brigham City, Utah. She attended the University of Utah for two years and finished her Bachelor of Science Degree with a Secondary Teaching Certificate at Weber State University. She majored in English and minored in Business Administration.