Project Management Consultants Expands Again in Cleveland
Former Cleveland Economic Development Director Tracey A. Nichols Joins Firm
Date: January 09, 2017
Publication: Project Management Consultants
Project Management Consultants (PMC), a subsidiary of Thompson Hine LLP, is pleased to announce that Tracey A. Nichols, the former director of economic development for the city of Cleveland, has joined the organization as a director of financial services. Nichols, who is widely recognized for her role in Cleveland’s economic development revival, led her team to complete more than 625 projects and $146.8 million in new grants or pass-through loan funding.
At PMC, Nichols will manage public financing projects for corporate, real estate and public sector clients. Her expertise with HUD financing and other complex financing tools will assist clients in closing project financing gaps.
“We are ecstatic to have Tracey join PMC,” said Jeffrey R. Appelbaum, managing director of PMC. “Her background in public-private partnerships, public finance, incentives, policy, program development and federal grants will be a tremendous resource to our clients. Her leadership and innovation as economic development director has made Cleveland a more attractive place to do business, and she has an incredible ability to develop relationships both within and outside of the government.” Ryan P. Sommers, managing director of financial services, added, “Her numerous strong working relationships both locally and nationally will be a huge asset for our team. She understands how to develop the most complex financing structures, which are often required in markets like ours to get deals done.”
Nichols joins the financial services branch of PMC, which focuses on bringing public and private financing to construction and corporate projects throughout the United States. Her experience in the public sector will allow the group to focus on regional economic growth in addition to the list of financial services currently offered, including intergovernmental funding strategies, bank financing assistance, public sector bond financing negotiation, tax increment financing analysis, building lease reviews, private sector fund development, New Markets Tax Credit and Historic Preservation Tax Credit strategies and application, bond rating assistance, economic and fiscal impact analysis, public and nonprofit economic development planning, and financial procurement.
“The sophisticated work handled by PMC is second to none,” said Nichols. “I have worked with Ryan and Jeff on over one billion dollars’ worth of development deals for the city of Cleveland, including the Metropolitan at the 9, Flats East Bank, and the Terminal Tower redevelopment, and I am looking forward to collaborating on new projects.”
Under Nichols’ leadership, Cleveland’s economic development department was recognized for innovative projects with awards from Team NEO/Inside Business, the U.S. Department of Housing and Urban Development, the International Economic Development Council and the Federal Laboratory Consortium for Technology Transfer.
Nichols also has received widespread national and regional recognition. In 2015, she received the Council of Development Finance Agencies Excellence Award for Leadership and the North Coast Minority Media and Diversity Chamber MBE/Urban Professional Award for Government, and she was named Public Executive of the Year by the Novogradac Journal of Tax Credits and a Woman of Note by Crain’s Cleveland Business. She also has received the Homer Wadsworth Award for extraordinary accomplishment in the public or not-for-profit sector from the Cleveland Foundation, an award for Best Community Development Project from the National Development Council, nine IEDC Economic Development Awards including the gold award for Public-Private Partnerships and for Gardening for Greenbacks Program, HUD’s Award of Excellence and 16 prestigious Team NEO/Inside Business Awards including awards for Public-Private Partnership, Business Attraction, Minority Business, Community Investment and Business Retention.
Nichols earned a B.S. in business management, with a concentration on accounting and finance, from Case Western Reserve University and is certified by the National Development Council as an Economic Development Finance Professional.
Nichols is the second high-profile addition to PMC this year. In September, R. Douglas (Doug) Myers, the former director of planning, design and construction for Cuyahoga Community College, joined the firm as a senior project consultant.
About PMC. Founded in 1997, Project Management Consultants LLC (PMC) is a wholly owned subsidiary of Thompson Hine LLP. PMC’s professionals have extensive experience in design, finance, construction consulting, construction management, partnering facilitation and owner’s representation, and they work seamlessly with Thompson Hine’s lawyers to provide integrated services to the marketplace. PMC’s four primary services for the real estate, design and construction industries are owner’s representation, public and private financing consulting, project and risk management consulting, and design and construction partnering facilitation and mediation. For more information, please visit aboutPMC.com.