Lynn Carlson Schell
President and Managing Principal

Lynn Carlson Schell directs the firm's strategic planning, long-term growth and profitability, with oversight of all areas of operation. Since forming Shelter Corporation in 1993, she has personally generated more than $749 million in developments and acquisitions. She now supervises a portfolio of almost 8,000 units.

Ms. Carlson Schell's accomplishments include leading the company's development of affordable housing through innovative financing and partnerships. She also spearheaded the company's successful diversification into senior communities. In 1998, Shelter formed Covenire Care, a firm providing management and development services to senior residential communities that range from independent living to skilled transition care.

Prior to founding Shelter Corporation, Ms. Carlson Schell spent nine years as an associate and senior developer with Can-American Realty Corporation. She was responsible for residential, condominium and apartment developments in the Midwest and Florida. At the same time, she managed the regional office in Naples, Florida.

Ms. Carlson Schell's leadership and business acumen is valued by many corporate and civic organizations. She is currently serving on the Executive Committee of the National Multi Housing Council, the Board of Directors of The Friends of Minneapolis Public Library, the Board of Directors of Minnesota Dance Theater and as a member of the Young Presidents' Organization. She has also served in leadership positions for major fundraising efforts for WAMSO-Minnesota Orchestra Volunteer Association, Lake Country School and CommonBond Communities, among others.

Jay Jensen
Senior Vice President and Principal

Jay Jensen, Senior Vice President and a Principal of Shelter Corporation, is responsible for structuring the purchase or construction of a wide variety of housing types including affordable family housing, senior independent and assisted living housing, and for-sale land development.

Previously, Mr. Jensen was employed at Miller & Schroeder Financial where he worked on a variety of finance and economic development programs. The housing finance programs included home improvement loan programs, single-family mortgages, multifamily housing, and essential function multifamily housing bonds. Mr. Jensen's economic development financing experience encompassed industrial revenue bonds, hospital revenue bonds, education revenue bonds, tax increment bonds, hotel financing, public facility bonds and moral obligation bonds.

Prior to that, Mr. Jensen was Executive Director of the Minneapolis Community Development Agency (MCDA), where he managed all housing and economic development programs for the city of Minneapolis, totaling more than $300 million annually. In over 15 years at the MCDA he participated in structuring over $1 billion of public financing, managing over $150 million of federal housing funds, creating over $40 million of foundation funds, and structuring over $200 million of tax increment financings. Mr. Jensen was involved in the financing of the Orpheum Theater, Target Center and the Minnesota Convention Center, all in Minneapolis.

Mr. Jensen has addressed both United States Senate and House Committees on a variety of housing legislation issues. He frequently speaks to organizations, including the National Association of Local Housing Finance Agencies, where he was a three-term president; the National League of Cities; the National Association of Housing and Redevelopment Officials; and the National Home Builders Association. Mr. Jensen has also advised the cities of Toledo, Tampa, New Orleans and St. Petersburg, Russia, on comprehensive urban housing and economic development programs.

Garrett Carlson, Jr.
Senior Vice President and Principal

From initial concept through final plans and specifications, Garrett Carlson, Jr. structures the purchase and manages the construction of a wide variety of housing projects for both nonprofit and for-profit owners. Beginning with the analysis of market reports, feasibility studies and appraisals, Mr. Carlson oversees site selection and requisite zoning, site plan and permit approvals. He then coordinates and reviews all phases from construction through initial marketing and rent up.

Mr. Carlson's responsibilities extend to financing and budgeting. Through his extensive knowledge of the practices and principles of conventional and governmental loan programs, Section 8, Tax Credit and construction and permanent mortgage loans, Mr. Carlson secures competitive financing via tax-exempt revenue bonds, commercial banks, state housing finance agencies or institutional joint ventures. In addition, Mr. Carlson reviews project operating budgets to monitor performance.

Kyle Didier
Chief Financial Officer

As chief financial officer for Shelter Corporation, Kyle Didier holds management responsibilities for the company's finance, information technology, and business services functions.

Most recently, Mr. Didier was Vice President of Finance for Regis Corporation overseeing Regis' treasury, financial accounting and reporting, and information resources functions as well as Regis' strategic planning and investor relations. Mr. Didier's proven track record of reducing administrative costs, developing internal audit functions and inventory controls, and utilizing technology to reduce overhead and manage growth make him a key member of the Shelter Corporation executive management team.

Formerly, Mr. Didier was Corporate Controller for Braun Media Services, CD Rom replication company, and James Phillips Company, a $20 million medical supply distribution company, as well as a Senior Associate with PriceWaterhouseCoopers LLP.

Mr. Didier is affiliated with Financial Executives International (FEI), Association of Financial Professionals (AFP), and the Minnesota Society of CPAs/AICPA, and serves as the School Advisory Commission Chair for St. Bartholomew Catholic Schools.

Kathleen Conlan Joyce
Developer

Kathleen Conlan Joyce has a wealth of experience in the development, financing, construction and management of multifamily and senior housing. She joined the Shelter Corporation development team in 2005 after serving as a consultant for the company.

At Shelter, Mrs. Conlan Joyce is responsible for facilitating relationships with municipalities, architects, engineers, contractors and lenders to ensure Shelter's housing developments and redevelopment projects are initiated and completed on time and within budget.

Specific duties include site selection, analyzing and assessing market feasibility reports, obtaining government approvals, developing pro formas, obtaining financing, supervising design, managing the construction schedule and costs, and overseeing the entire costs of the development.

Prior to becoming a consultant and joining Shelter, Mrs. Conlan Joyce was Executive Vice President for Gramercy Corporation, a leading senior housing cooperative developer in Minnesota. She was directly involved in development; managed all lender, HUD and FNMA approvals; supervised the entire development team; and managed the construction schedules, budgets and member upgrade selections for eleven cooperatives, totaling just under 1,000 units.