Community Preservation Corporation is one of a select group of Freddie Mac, Fannie Mae, and New York City and New York State Pension Fund Multifamily Seller/Servicers licensed to offer an array of permanent financing products. This bridge loan product allows CPC to meet the short-term financing needs of newly completed small multifamily rental properties that are not yet stabilized by providing senior-secured loans ranging up to $8 million within the Northeast region.
Robert Riggs is Senior Vice President and Regional Director of CPC’s New York City Originations division where he is responsible for the company’s lending operations throughout New York City and Long Island. In this capacity he oversees the lending process from origination through underwriting, construction supervision, and conversion to permanent financing. Mr. Riggs works hand-in-hand with numerous mission-driven partners at the state and local levels as well as non-profit organizations that contribute to the financing of affordable housing loans.
Mr. Riggs joined CPC in 2000 as a Mortgage Officer for the Brooklyn Region, where he originated $250 million in the financing of affordable housing. In 2006, Mr. Riggs opened a new CPC office in Trenton, and in 2008 became the company’s Brooklyn Regional Director.
Prior to joining CPC, Mr. Riggs spent four years at the Federal Reserve Bank of New York analyzing strategies for private lending and investment in urban communities.
Mr. Riggs earned a Master’s degree in Urban Planning from Columbia University and a Bachelor of Arts in Architecture from Princeton University.
Doug Olcott is Senior Vice President and Director of Lending of CPC’s Hudson Valley Region office. In this capacity, he oversees the lending process from origination through underwriting, construction supervision, and conversion to permanent financing.
Mr. Olcott has been with CPC for nearly 20 years and previously served as Senior Vice President and Mortgage Officer. In that role, he focused on mid to large construction and permanent transactions. Specifically, he focused on neighborhood and community development initiatives, working with private developers, not-for-profits, and government agencies to develop financing packages for local projects in the Hudson Valley region.
Prior to joining CPC, Mr. Olcott was the Community Development Director for Orange County, one of CPC’s public partners in the region. Before that, he worked at the New York City Department of Housing Preservation and Development (HPD) in the agency’s Bronx office.
Mr. Olcott earned a Master’s degree in Urban Planning from Columbia University and his undergraduate degree from Colgate University.
Michael Skrebutenas is Senior Vice President and Regional Director of CPC’s Albany office where he oversees the company’s lending operations throughout the New York State Capital Region. He is also responsible for identifying federal, state, and local government policy and programmatic opportunities to advance the company’s mission of creating affordable housing for underserved communities.
Mr. Skrebutenas brings more than 20 years of experience in housing and public service to CPC. Prior to joining the company in 2013, Mr. Skrebutenas was President of Housing Preservation and Executive Deputy Commissioner at New York State Homes and Community Renewal (NYS HCR). Before serving at NYS HCR, he was Deputy Secretary of Economic Development and Housing for the New York State Executive Chamber and worked as a development project manager for various non-profit community development organizations. Mr. Skrebutenas also served in the Clinton White House.
Mr. Skrebutenas holds a Master’s Degree in Urban Planning from Columbia University, a Juris Doctor from the University of Connecticut School of Law, and Bachelor of Arts in Political Science from Columbia University. He currently sits on the board of directors of the Neighborhood Preservation Coalition of New York State, Inc.
Nicholas V. Petragnani, Jr. has served as Regional Director of CPC’s Central New York office in Syracuse since 2003. In this role, Mr. Petragnani focuses on the financing of new and existing multifamily rental housing, and new or redeveloped for-sale housing targeted to both low and moderate income and conventional markets. In 2009 he assumed the role of Regional Director for CPC’s Western New York regional operations where he is responsible for overseeing all lending activities.
Upon joining CPC in 2003, Mr. Petragnani focused on efforts to revitalize Downtown Syracuse. Considered a high-risk venture at the time, he partnered with the City to develop a former factory site into a market-rate project featuring loft rental apartments. This innovative effort helped drive investment in the area and spurred the creation of other attractive and affordable residential developments in Downtown Syracuse.
Before joining CPC, Mr. Petragnani was a Director in the Economic and Community Development Division of Fiscal Advisor & Marketing, Inc. He also served as Vice President of the Community Initiatives Development Corporation (CIDC), and from 1994 to 1996 was the Assistant Director for Business Retention for the City of Syracuse’s Office of Economic Development.
Mr. Petragnani earned a Bachelor’s degree in Business Administration from St. Bonaventure University.