Advisory Team Experience
Michael F. Whipple, Sr., President
Michael F. Whipple, Sr. has over 43 years of experience in public finance. Mr. Whipple began his career in financial management in 1970 as a municipal financial advisor at Stone & Youngberg. In 1977, he joind Miller & Schroeder as an investment banker. He founded a municipal financial advisory and investment banking firm in 1985. He has specialized in structuring and marketing tax exempt bonds. Mr. Whipple has prepared reports analyzing optional methods for financing public improvements, analyzing fiscal impacts of new developments, establishing rates, charges and development impact fees, establishing rates and methods of apportionment of special taxes and reviewing investments and recommending policies and procedures for investment of public funds. He has also acted as the financial advisor or investment banker for projects financed with federal or state grants or loans, and local funding methods including special assessments, special taxes, lease obligations, tax increment revenues, property and sales taxes, and revenues from user charges and fees. Mr. Whipple was the former Mayor of the City of Laguna Niguel, California and served on its City Council for 8 years. Mr. Whipple holds a Bachelor of Science in Civil Engineering at California State University, Long Beach and an MBA from UCLA.
Michael F. Whipple, Jr., Vice President
Prior to joining Development & Financial Advisory, Mr. Whipple worked for a land development consulting firm for ten years. He has experience in advising developers, home builders and industry associations on the various types of infrastructure financing programs, including Community Facilities Districts, Assessment Districts, Redevelopment Agency and Development Impact Fees, along with cost reduction strategies to increase project feasibility and cash flow. He has also successfully negotiated school mitigation agreements and has conducted comprehensive economic impact analysis for various clients. Mr. Whipple has been responsible for the formation and issuance of public finance districts and development of cost reduction strategies in excess of $500 million. Mr. Whipple graduated with a Bachelor's Degree in Economics from California State University, Chico.
James Sotero, Senior Associate
Greg Angelo, Consultant
Mr. Angelo has over fourteen years of experience working in the real estate industry and was a manager at a national real estate development consulting firm, where he provided consulting services and management for over 60 development projects with diverse levels of entitlement status. Mr. Angelo's experience includes preparation and negotiation of public and private infrastructure cost share agreements, credit and reimbursement agreements, tax increment analysis, and development agreements. He has successfully negotiated over $100 million in development cost reductions to assist with stimulating new project development, formed and implemented public financing districts, including special tax districts, such as Mello-Roos Community Facilities Districts and special assessment districts. Greg was also principal at The Valuations Group (TVG), where he was responsible for the evaluation of interests in several hundred public and private real estate limited partnerships on behalf of the firm's banking, trust, and brokerage firm clients and was involved in the firm's consulting services, including issuance of fairness opinions, due diligence on new investments, and analysis of real estate investments. Mr. Angelo graduated from the University of Mississippi with a Bachelor of Business Administration degree in Banking and Finance and a Bachelor of Arts degree in Psychology. Mr. Angelo currently serves on the North State Building Industry Association Board of Directors and the HomeAid Sacramento Board of Directors.
Benjamin Caragan, Consultant
Mr. Caragan has over twelve years of experience in conducting complex financial analysis for clients. Mr. Caragan specializes in financial and budgetary analysis and works with public agencies ranging from cities and counties to water districts and is involved in high level restructuring of utility rates and internal billing rates for various municipalities. He has also been extensively involved in the development and implementation of structured financings involving various public agencies and has experience in land-secured financings, which have included bond issues in multiple series. Mr. Caragan has assisted in the establishment of special districts which have included improvement areas and tax zones located in numerous municipalities. He has developed and implemented structured financings involving public agencies to finance capital improvements, development impact fees, and real property acquisitions. Prior to his work in public finance, Mr. Caragan's investment banking career included working for Citigroup where he was involved in the Mergers and Acquisitions (M&A) division. Mr. Caragan earned a Bachelor of Science Degree in Biology and an MBA from the University of California, Riverside.