Cindy Fang is a partner in CohnReznick’s Boston office and serves as the Firm’s Tax Credit Investment Services (TCIS) Leader. TCIS provides investment due diligence and other advisory services to institutional investors to help them strategically acquire and manage tax credit investments. Cindy had a broad range of experience serving investor, syndicator, developer, and housing finance agency clients involved in tax credit transactions. She is well-versed in all realms of major investment tax credits including the low-income housing tax credit, historic, New Markets, and renewable energy tax credits.
Over the last 15 years, she has focused on evaluating the strengths and weaknesses of tax incentivized funds on behalf of institutional investors including an evaluation of fund sponsors. She provides advisory services related to equity market conditions, investment options, investment due diligence, regulatory requirements, and investment impacts to financial statements. Cindy also plays a key role in the Firm’s industry research, policy, and regulatory advocacy and thought leadership efforts.
Cindy has co-authored many publications including a series of studies that tracked the performance of housing tax credit investments. Most recently, Cindy co-authored The Low-Income Housing Tax Credit Program at Year 30: Recent Investment Performance (2013-2014)and The Community Reinvestment Act and its Effect on Housing Tax Credit Pricing, a report that examined the relationship between housing tax credit pricing and banks investing in geographies under the Community Reinvestment Act (CRA) of 1977. Prior to rejoining CohnReznick in 2010, Cindy spent six years at a Big 4 accounting firm and focused on serving tax credit syndicators and investors.