Industry Spotlight: Affordable Housing Finance’s Donna Kimura

Donna Kimura, deputy editor at Affordable Housing Finance

Those familiar with Affordable Housing Finance (AHF) quickly recognize the name Donna Kimura. As the deputy editor of the leading publication in the Low-Income Housing Tax Credit (LIHTC) industry, Donna has dedicated nearly 25 years to serving AHF and its audience. Typically found behind the pen (or keyboard), we decided to switch things up and put Donna in the spotlight by asking her some questions. Learn about Donna’s entry into the industry, hot topics she predicts for 2025, the advice she would give her younger self, and much more.

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Why Affordable Housing Finance? What interested you in working for AHF and in support of the affordable housing industry?

After college, I worked as a reporter at daily newspapers, covering a variety of beats and writing about a different topic each day. When I joined AHF in 2001, I didn’t know anything about affordable housing, and I was certain that I wouldn’t last. How interesting could affordable housing be? Boy, was I wrong. It turns out there’s no shortage of news and fascinating people.

I’m incredibly grateful to the many patient people who have taken the time to explain the finer points of a qualified allocation plan, the key aspects of a new bill, or the process behind financing a housing development. I constantly found myself saying, “Explain it to me like I’m a third-grader,” and, to be honest, that’s still the case.

Having covered the industry since 2001, what has been the most rewarding part of your job?

AHF covers news about different financing strategies, changing policies, and recent housing developments. That’s important, but more than that it connects the industry. Readers may learn about a project that one of their friends worked on or see a peer featured in Pop Quiz, our Q&A column. I like the idea that AHF may nudge someone to reach out to a colleague they haven’t talked with in a while.

It sounds cliché, but the most rewarding part has to be the relationships I’ve made with the AHF team and the wider industry. Editor Christine Serlin and I started at the magazine around the same time, and she’s a great colleague and friend.

What do you foresee being hot topics for 2025?

There will be sweeping policy proposals coming from the new administration and Congress. The proposals may not all get approved, but they will take up a lot of everyone’s energy. The preservation of existing affordable housing is another topic that continues to grow in importance. The National Low Income Housing Coalition and the Public and Affordable Housing Research Corp. recently reported that restrictions are set to expire on 374,497 federally assisted homes in the next five years. That’s a significant amount of the overall stock.

And, the low-income housing tax credit (LIHTC) is almost 40 years. That means many LIHTC and affordable housing trailblazers are retiring while a new generation is coming up. The evolution of established organizations and the emergence of new companies will be interesting to watch in the years ahead.

How do you hope your work makes an impact?

I hope AHF provides the industry with the information it needs and information it might not get elsewhere. It’s also nice to be able to shine a light on the people who do the unheralded work of developing and financing affordable housing. AHF has a unique platform to do that through its stories, awards, and annual AHF Live conference.

Get to Know Donna:

What would you tell your younger self?

Don’t stress so much and enjoy each day more.

What do you like to do outside of reporting and editing?

I like to read and follow sports, mostly the San Francisco Bay Area teams. Go Stanford women’s basketball. Go Giants. The baseball season hasn’t started so everyone can be optimistic.

We hear you collect records. What's your favorite or most cherished record? Why?

Last year, I was able to obtain one of my grails—a 1967 stereo pressing of “The Psychedelic Sounds of The 13th Floor Elevators” by The 13th Floor Elevators. I hope to find an outstanding mono copy one day.

As a dog lover, what's your favorite breed? Do you currently have any dogs? If so, what is the breed and name(s)?

My last dog was a 17-year-old Beagle named Daisy. Right now, I have a senior cat. She showed up at the house in 2007 and never left. But, I’m more of a dog person. Any breed. While I was growing up, my family on two separate occasions had Manchester Terriers. Both were the smartest and sweetest dogs. It’s a breed that you don’t see very often.

Favorite place to grab coffee:

A dark roast at Philz Coffee is always good!