--- title: "Affordable Housing Finance Advisor | Miller Housing" description: "Miller Housing Advisors structures tax-exempt bond and LIHTC equity deals for affordable housing developers. Denver-based, national, $1B+ financed since 2005." lang: en json-ld: | { "@context": "https://schema.org", "@graph": [ { "@type": "ProfessionalService", "@id": "/#organization", "name": "Miller Housing Advisors LLC", "description": "Financial advisory firm assisting multifamily affordable housing developers with structuring and executing tax-exempt bond deals and tax credit equity projects.", "foundingDate": "2005-01", "telephone": "303-570-7070", "email": "marnie@millerhousing.com", "url": "/", "address": { "@type": "PostalAddress", "addressLocality": "Denver", "addressRegion": "CO", "addressCountry": "US" }, "areaServed": [ { "@type": "Country", "name": "United States" }, { "@type": "State", "name": "Colorado" }, { "@type": "State", "name": "California" }, { "@type": "State", "name": "Hawaii" }, { "@type": "State", "name": "Texas" } ], "knowsAbout": [ "Tax-exempt bond financing", "Low-Income Housing Tax Credit equity", "Multifamily affordable housing finance", "Section 8 and Section 236 projects" ] }, { "@type": "Person", "@id": "/#marnie-klein", "name": "Marnie Klein", "jobTitle": "Founder and Managing Member", "worksFor": { "@id": "/#organization" }, "alumniOf": { "@type": "CollegeOrUniversity", "name": "University of Michigan" }, "knowsAbout": [ "Tax-exempt multifamily bond transactions", "Tax credit equity structuring", "Affordable housing development budgets and pro-formas", "Corporate and structured finance" ] }, { "@type": "Service", "name": "Project Feasibility Analysis", "serviceType": "Project Feasibility Analysis", "description": "Know whether an affordable housing deal pencils before you spend money pursuing it. Financial feasibility determination for tax-exempt bond and tax credit equity deals; Operating pro-formas and development budgets; Review to ensure regulatory compliance.", "provider": { "@id": "/#organization" }, "areaServed": { "@type": "Country", "name": "United States" } }, { "@type": "Service", "name": "Lender and Tax Credit Equity Selection", "serviceType": "Lender and Tax Credit Equity Selection", "description": "Get the right capital partners competing for your project instead of dictating terms. Identification of tax credit equity investors and lenders; Analysis of alternative financing structures; Coordination of the full working group.", "provider": { "@id": "/#organization" }, "areaServed": { "@type": "Country", "name": "United States" } }, { "@type": "Service", "name": "Due Diligence and Legal Review", "serviceType": "Due Diligence and Legal Review", "description": "Move through documentation and negotiation without losing the schedule. Coordination of inter-creditor arrangements; Preparation of transaction documentation; Negotiation of legal terms.", "provider": { "@id": "/#organization" }, "areaServed": { "@type": "Country", "name": "United States" } }, { "@type": "Service", "name": "Bond and Tax Credit Closing Process", "serviceType": "Bond and Tax Credit Closing Process", "description": "Reach a clean closing with every document and dollar accounted for. Coordination of all closing documentation; Preparation of closing budgets.", "provider": { "@id": "/#organization" }, "areaServed": { "@type": "Country", "name": "United States" } }, { "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "What does an affordable housing financial advisor do?", "acceptedAnswer": { "@type": "Answer", "text": "Miller Housing Advisors LLC is a financial advisory firm that helps multifamily affordable housing developers structure and execute tax-exempt bond deals and tax credit equity projects. The firm determines financial feasibility, prepares operating pro-formas and development budgets, selects lenders and tax credit equity investors, and coordinates due diligence through closing. It works as the developer's advisor, coordinating every financing detail across the working group." } }, { "@type": "Question", "name": "Who does Miller Housing Advisors work with?", "acceptedAnswer": { "@type": "Answer", "text": "Miller Housing Advisors works with private for-profit developers, non-profit developers, 501(c)(3)s, housing authorities, and CHDOs. Projects include senior and family housing, rehabilitation, new construction, Section 8, and Section 236 deals. The firm is based in Denver, Colorado and serves clients nationally." } }, { "@type": "Question", "name": "Where is Miller Housing Advisors located and what areas does it serve?", "acceptedAnswer": { "@type": "Answer", "text": "Miller Housing Advisors LLC is based in Denver, Colorado and advises developers nationally, with client work spanning California, Hawaii, Texas, Colorado, and nationwide tax credit equity syndicators. Engagements are handled remotely with travel as a transaction requires." } }, { "@type": "Question", "name": "How much does a financial advisor cost on a tax-exempt bond deal?", "acceptedAnswer": { "@type": "Answer", "text": "The financial advisory fee at Miller Housing Advisors varies according to project scope and is estimated on an ad-hoc basis. It is typically a predetermined lump-sum fee due and payable at the closing of the transaction, with some milestone payments along the way. A non-refundable retainer is collected at engagement and is fully credited against the financial advisory fee." } }, { "@type": "Question", "name": "What expenses are billed in addition to the advisory fee?", "acceptedAnswer": { "@type": "Answer", "text": "The project developer is responsible for all reasonable out-of-pocket expenses. These include travel such as airfare, lodging and meals, courier and delivery charges, and other customary direct out-of-pocket expenditures. Expenses are separate from the predetermined financial advisory fee." } }, { "@type": "Question", "name": "Who is Marnie Klein?", "acceptedAnswer": { "@type": "Answer", "text": "Marnie Klein manages Miller Housing Advisors LLC, which she founded in January 2005. She has experience in the financing and execution of over $1 billion in project transactions. She previously spent six years as Senior Vice President at CharterMac, originating and structuring multifamily bond transactions for a diverse national client base, and worked in corporate and structured finance at Citibank NA from 1996 to 1999 in New York and London." } }, { "@type": "Question", "name": "How experienced is the firm with tax-exempt bond and LIHTC transactions?", "acceptedAnswer": { "@type": "Answer", "text": "Miller Housing Advisors has been advising on affordable housing finance since January 2005, and its founder has been involved in financing and executing more than $1 billion in project transactions. That work spans tax-exempt bond deals and 4% tax credit equity structures for both for-profit and non-profit sponsors. Bond counsel, syndicators, and developers alike have worked with the firm on repeat closings." } }, { "@type": "Question", "name": "What makes Miller Housing Advisors different from a larger firm?", "acceptedAnswer": { "@type": "Answer", "text": "Miller Housing Advisors creates value through personal responsiveness, strategic industry knowledge, and comprehensive simplicity. Clients work directly with Marnie Klein rather than a rotating deal team, which supports long-term, customized relationships. The firm understands the strategic intricacies of affordable housing deals and coordinates all of the financing details so the developer sees one clear picture." } }, { "@type": "Question", "name": "When should a developer bring in a financial advisor?", "acceptedAnswer": { "@type": "Answer", "text": "The best time is at the feasibility stage, before capital partners are selected. Early involvement means the operating pro-forma, development budget, and regulatory compliance review shape the financing structure rather than react to it. Miller Housing Advisors can also join an in-flight transaction to drive documentation, inter-creditor coordination, and closing." } }, { "@type": "Question", "name": "How do I start a conversation about a project?", "acceptedAnswer": { "@type": "Answer", "text": "Call Miller Housing Advisors at 303-570-7070, email marnie@millerhousing.com, or send the project inquiry form on this page. Replies come within one business day. Helpful details to include are project location, unit count, construction type, and where the deal stands today." } } ] } ] } --- [Skip to content](#main) [![Miller Housing Advisors LLC logo](/assets/logo.gif)](#top) Services The Firm [FAQ](#faq)[Contact Us](#contact) [303-570-7070](tel:+13035707070)[Start a conversation](#contact) [](tel:+13035707070) ![Abstract blue textured brushwork used as a decorative background](/assets/hero-abstract.jpg) Denver, Colorado · Serving developers nationally # Get your affordable housing deal financed — tax-exempt bonds and tax credit equity, structured to close. Miller Housing Advisors LLC is the financial advisor for multifamily affordable housing developers — for-profit, non-profit, housing authorities and CHDOs — who need a bond and LIHTC structure that holds up from feasibility through closing. [Start a conversation](#contact)[Call 303-570-7070](tel:+13035707070) Founded 2005 · Over $1 billion in project transactions financed · Clients in California, Hawaii, Texas, Colorado and nationwide 2005 Founded in Denver, Colorado $1B+ In project transactions financed 20+ yrs Advising affordable housing sponsors National CA, HI, TX, CO and nationwide syndicators Who we serve ## Affordable housing developers structuring bond and tax credit transactions Miller Housing Advisors LLC advises private for-profit developers, non-profit developers, 501(c)(3)s, housing authorities, and CHDOs. Project types include senior and family housing, rehabilitation, new construction, Section 8, and Section 236 transactions. ### Private for-profit developers Sponsors pursuing 4% tax credit and tax-exempt bond deals who need an advisor to run the capital process. ### Non-profit developers and 501(c)(3)s Mission-driven sponsors needing rigorous underwriting and a partner who protects the schedule. ### Housing authorities Public agencies recapitalizing Section 8 and Section 236 portfolios through bond and tax credit structures. ### CHDOs Community housing development organizations layering public sources with private debt and equity. Services ## Affordable housing financial advisory, from feasibility to closing The firm handles the full arc of a tax-exempt bond and tax credit equity transaction. Engage on one phase or all four — see the [transparent fee structure](#engagement) for how scope is priced. 01 ### Project Feasibility Analysis Know whether an affordable housing deal pencils before you spend money pursuing it. - Financial feasibility determination for tax-exempt bond and tax credit equity deals - Operating pro-formas and development budgets - Review to ensure regulatory compliance 02 ### Lender and Tax Credit Equity Selection Get the right capital partners competing for your project instead of dictating terms. - Identification of tax credit equity investors and lenders - Analysis of alternative financing structures - Coordination of the full working group 03 ### Due Diligence and Legal Review Move through documentation and negotiation without losing the schedule. - Coordination of inter-creditor arrangements - Preparation of transaction documentation - Negotiation of legal terms 04 ### Bond and Tax Credit Closing Process Reach a clean closing with every document and dollar accounted for. - Coordination of all closing documentation - Preparation of closing budgets How we create value ## Why developers choose Miller Housing Advisors Miller Housing Advisors LLC is distinguished by industry knowledge, responsiveness, simplicity, friendliness, and useful analytics. It is a boutique practice, so the expertise that wins the engagement is the expertise that does the work. ### Personal Responsiveness Every engagement is handled by Marnie Klein directly, which is how the firm builds long-term, customized client relationships. Clients reach the person doing the analysis, not a deal desk. ### Strategic Industry Knowledge The firm understands the strategic intricacies of affordable housing deals, from tax-exempt bond mechanics to what a syndicator will and will not accept. That knowledge comes from more than $1 billion in financed transactions. ### Comprehensive Simplicity Miller Housing Advisors provides comprehensive analysis and coordinates all of the financing details, then presents them simply. Useful analytics replace guesswork at every decision point. Engagement and fees ## How an engagement with Miller Housing Advisors works Fees are simple and disclosed up front: a predetermined lump-sum advisory fee sized to project scope, paid primarily at closing. There are no hourly surprises and no success-contingent markups buried in the capital stack. ### Financial advisory fee The advisory fee varies according to project scope and is estimated on an ad-hoc basis. It is typically a predetermined lump-sum fee, due and payable at the closing of the transaction, with some milestone payments. ### Retainer A non-refundable retainer is collected at engagement. It is fully credited against the financial advisory fee, so it is not an additional cost to the project. ### Out-of-pocket expenses The project developer is responsible for all reasonable out-of-pocket expenses, including travel (airfare, lodging, meals), courier and delivery, and other customary direct out-of-pocket expenditures. Marnie Klein Founder & Managing Member About the founder ## Marnie Klein, affordable housing finance advisor Marnie Klein founded Miller Housing Advisors LLC in January 2005 and manages the firm today. She has experience in the financing and execution of over $1 billion in project transactions across the multifamily affordable housing sector. Before founding the firm, she spent six years as Senior Vice President at CharterMac, where she originated and structured multifamily bond transactions for a diverse national client base. Earlier, she worked in corporate and structured finance at Citibank NA from 1996 to 1999 in the New York and London offices. She holds a Bachelor's Degree in Business Administration from the University of Michigan (1996). The firm operates from [Denver, Colorado](#contact) and serves developers nationally. Client experience ## What developers, syndicators and bond counsel say > "Marnie is a hard worker who is dedicated to her clients. Working with Miller Housing gives me confidence that the work will be done accurately, on time and professionally." Caleb Roope Developer, The Pacific Companies California > "Marnie has been a thought partner of mine for over a decade. Her broad knowledge of financing options is a welcome addition that produces a collaborative relationship focused on production results. Marnie understands the speed by which developments work and has always met her timelines!" Dixie Lira-Baus Non-Profit Developer, Eden Housing California > "Marnie is a truly remarkable financial expert and incredibly focused on the details that matter in the tax credit world. We are extremely honored and humbled each time she can take on one of our projects." Chris Flaherty Developer, 3 Leaf Holdings California & Hawaii > "Marnie has helped structure our deals to be a success starting with the initial financial model all the way through the closing process. She is very organized, knowledgeable and most importantly a team player who puts the needs of her clients to the forefront." Chris Alley Non-Profit Developer, Central Valley Coalition of Affordable Housing California > "Marnie has assisted us in getting our projects to the finish line and we thoroughly enjoy working with her! Mahalo!" Stanford Carr Developer, Stanford Carr Development Hawaii > "She drove the process each time and kept all the parties focused to successful closings. We would recommend her to any of our clients who need someone of her caliber." Brad Bullock Tax Credit Equity Syndicator, CREA Nationwide > "She is good at handling people in times of stress and has the technical proficiency to back up her interpersonal skills. That's what you really need when things are starting to fall apart." Justin Cooper Bond Counsel, Orrick California & Hawaii > "She is creative, positive, resourceful and demonstrates a true customer service orientation in her approach to matching the financing to the project rather than the project to the financing." Mary Roosevelt Non-Profit Developer, Thistle Colorado > "She is one of the most knowledgeable and talented professionals I know in the complex world of affordable housing finance. We would not consider undertaking a bond transaction without Marnie's advice and counsel." Bill Lee Developer, Covenant Communities Texas Frequently asked questions ## Questions about affordable housing bond and tax credit advisory ### What does an affordable housing financial advisor do? ### Who does Miller Housing Advisors work with? ### Where is Miller Housing Advisors located and what areas does it serve? ### How much does a financial advisor cost on a tax-exempt bond deal? ### What expenses are billed in addition to the advisory fee? ### Who is Marnie Klein? ### How experienced is the firm with tax-exempt bond and LIHTC transactions? ### What makes Miller Housing Advisors different from a larger firm? ### When should a developer bring in a financial advisor? ### How do I start a conversation about a project? ## Bring in an advisor who has financed over $1 billion in affordable housing Send the project details and Marnie Klein will tell you candidly whether the deal pencils and how to structure it. [Start a conversation](#contact)[Call 303-570-7070](tel:+13035707070) [marnie@millerhousing.com](mailto:marnie@millerhousing.com) Contact ## Contact Miller Housing Advisors in Denver Miller Housing Advisors LLC is based in Denver, Colorado and advises developers nationally. Reach Marnie Klein directly by phone, email, or the project inquiry form. - [303-570-7070](tel:+13035707070) - [marnie@millerhousing.com](mailto:marnie@millerhousing.com) ### Tell us about your project Name Email Phone Project details Send project inquiry Replies within one business day. Your details are used only to respond to this inquiry. ![Miller Housing Advisors LLC logo](/assets/logo.gif) Miller Housing Advisors LLC Denver, Colorado [303-570-7070](tel:+13035707070) [marnie@millerhousing.com](mailto:marnie@millerhousing.com) Services - [Project Feasibility Analysis](#project-feasibility) - [Lender and Tax Credit Equity Selection](#lender-equity-selection) - [Due Diligence and Legal Review](#due-diligence-legal-review) - [Bond and Tax Credit Closing Process](#closing-process) Firm - [About Marnie Klein](#about) - [Engagement and fees](#engagement) - [Client experience](#testimonials) - [FAQ](#faq) © 2026 Miller Housing Advisors LLC. Affordable housing financial advisory, Denver, Colorado.