Richard A. Floreani


Rick is a Consultant with Carlisle Tax Credit Advisors in the firm’s low-income housing tax credit services practice, where he concentrates on consulting services to institutional capital sources for affordable housing. In this capacity, he brings over twenty-five years of experience in advising clients on housing credit tax credit transactions, with a focus on investment evaluation and risk analysis for investment capital. In addition to investment evaluation and risk analysis, his expertise also includes banking and insurance regulatory matters relating to tax credit investments along with performance benchmarking and data reporting.

Rick has authored articles for numerous publications and has spoken at a multitude of industry conferences on a wide variety of issues relating to housing credits, including those sponsored by the Affordable Housing Investor’s Council, the National Council of State Housing Agencies, the Affordable Housing Tax Credit Coalition, the National Housing and Rehabilitation Association, the National Association of Affordable Housing Lenders, the National Association of State and Local Equity Funds, the Office of the Comptroller of the Currency, the Federal Reserve Bank of Philadelphia, the New York State Association for Affordable Housing and Concentrated Solar Power Today.

Prior to joining Carlisle, Rick led the housing tax credit due diligence business line for Ernst & Young’s Tax Credit Investment Advisory Services group, advising clients on primary and secondary market investments exceeding $12 billion. During his dozen years at Ernst & Young, Rick also assisted clients in historic rehabilitation, new markets, and renewable energy transactions. In addition to due diligence, he was also the manager and lead author on several industry reports including the industry’s Understanding the Dynamics series, which surveys housing tax credit investment and property performance across the nation.

Before Ernst & Young, Rick was employed at Affirmative Investments, Inc., a development and financial consulting firm specializing in housing tax credit transactions. During his tenure, Rick analyzed financial projections, conducted real estate due diligence, structured legal and tax issues, and negotiated financing terms on behalf of affordable housing developers. He also structured historic tax credit investments and properties utilizing tax credits with assisted living facilities. Rick’s responsibilities also included asset management of a publicly syndicated tax credit fund and investment management for institutional investors. Rick holds a Bachelor of Arts degree (cum laude) from Boston University.