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Chelsea Investment Corporation
Chelsea Investment Corporation
As Senior Project Manager of the Company since 1997, Wally brings over 20 years of experience serving as a senior financial executive for six public and private companies prior to joining CIC.
During his career, he was on the audit staff of Coopers and Lybrand and served as CFO and Treasurer of Magma Power Company.
Since 1998, he
has acquired $165 million in bond allocation from the California Debt Limit Allocation Committee
to finance the construction, acquisition and rehabilitation of affordable multi-housing units using tax-exempt private activity bonds.
role in maintaining contact with municipal bond issuers, DUS and construction lenders, as well as tax credit equity investors is primary in providing financing for bond-financed projects.
is active in new business development particularly in the areas of inclusionary housing and housing for special needs populations.
Chief Financial Officer: Wallace C. Dieckmann Mr. Dieckmann is a Certified Public Accountant and has over 20 years experience as the senior financial executive for six private and public companies in San Diego.Prior to his corporate experience, Mr. Dieckmann was on the audit staff of Coopers & Lybrand for six years where he was a Manager.At Magma Power Company, a formerly NASDAQ traded company with a market capitalization of over $900 million, Mr. Dieckmann served as Treasurer and Chief Financial Officer.He arranged over $500 million of construction and permanent project finance including $220 million for construction of a geothermal power project in the Philippines financed, in part, by the Overseas Private Investment Corporation and a consortium of banks lead by Credit Suisse.
has acquired $75.1 million in bond allocation from the California Debt Limit Allocation Committee
to finance the construction, acquisition and rehabilitation of over 1000 affordable multi-family housing units using tax-exempt private activity bonds.Mr. Dieckmann
maintains constant contact with municipal bond underwriters, DUS and construction lenders as well as tax credit equity investors to provide financing for bond financed CIC development projects.In addition, Mr. Dieckmann
is very active in supporting the new business development activities of CIC
with modeling and financial analysis.
We Made A Difference! Affordable Home Builders Testify To PMIB On Bond Freeze Impact | Southern California Association of Nonprofit Housing (SCANPH)
-- Chelsea Investment Company (Wally Dieckmann)
Wally Dieckmann, Chief Financial Officer of Chelsea Investment Corporation said, "The Rancho Vista project was the second transaction this year with Red Capital and its affiliates providing the construction loan, bond underwriting, Fannie Mae DUS lending and tax credit equity.
California -- Thirty Affordable Home Builders Testify at PMIB Meeting (Press Release)
Chelsea Investment Company (Wally Dieckmann)