Management

James J. Schmid, Principal

Jim is the Chair of the Governing Board of BCCC and the Chief Executive Officer of BCCC’s Controlling Entity, Chelsea Investment Corporation. During his nearly 40-year career, Jim’s responsibilities have included project acquisition, financing, design, construction, marketing and property management of commercial, industrial and residential projects throughout the country. For the last twenty five years, he has focused on development of affordable housing. A respected authority in all aspects of real estate development and management, Jim is a former lecturer for the MSRE degree program at University of San Diego, Past Chairman of the San Diego Building Industry Association, and sought after panelist and speaker. He is a passionate advocate for the creation and preservation of safe, accessible, and affordable housing; his service to the industry has recently been acknowledged by his induction into the Building Industry of San Diego Hall of Fame.

In addition to being responsible for the strategic management of BCCC, Jim is a Board Member of the California Council for Affordable Housing, a non-profit dedicated to the development and expansion of affordable housing for LIPs in California.

CHERI HOFFMAN, GOVERNING BOARD MEMBER

Cheri is the President of BCCC’s Controlling Entity and has been part of the Chelsea development team since 1994. She has participated in the development of 100 affordable apartment communities, involving $2 billion in financing.  She is an authority in financial modeling incorporating tax credits and tax-exempt bonds, and has extensive experience securing multiple forms of local, state, federal and private funding sources. She is involved throughout the development process, from early feasibility analysis to lease up and stabilization. Cheri received her degree in Accounting from California State University in Fullerton and continued her education with finance studies at California Polytechnic University in Pomona.

CHARLES SCHMID, GOVERNING BOARD MEMBER

In addition to being a BCCC Governing Board member, Charles is the Chief Operating Officer of BCCC’s Controlling Entity and the President of its affiliated General Contractor. Charles has been with Chelsea since 1986 and applies experience with real estate finance, development and management to facilitate the needs of Chelsea and its affiliates. Charles holds a California Contractor’s License and has received specialized training in property management and finance issues including tax credit compliance. He has supervised the construction of nearly 7,000 apartment homes in California, Arizona, and New Mexico. With a degree from the University of California, San Diego, he has a thorough understanding of the life cycle of apartment development, from feasibility analysis through lease-up and stabilization.

Jerry Hannon, Director of Special Business Lines

Jerry Hannon has been part of the BCCC team since 2004. In addition to managing the investing and oversight of BCCC’s New Market Tax Credits portfolio, he has experience in creating and maintaining foreign insurance captives. Jerry holds a Bachelor’s Degree in Accounting and, prior to joining BCCC, was employed in public accounting, working largely in the real estate and construction industry.