Page 114 of Pride and Protest
“What if I don’t want my job back?” he said.
“You want your parents’ legacy intact, don’t you?” Liza said it like it wasn’t a question. “And I have a way that might work.”
“Liza, I appreciate that, but I don’t need—”
“Dorsey, you’re not the only one who gets to swoop in and save someone. Money fixes a ton of problems, but ideas still count for something. And I have anidea.”
Gigi’s elbow nudged him in the ribs. Her huge grin told him everything.Marry her, or I will.
“Let’s scare up that senator from Virginia. He’s dying to get in your pants.” Liza’s eyes twinkled. Here was John Wayne again. The swaggering bravado of this woman! It was reallyendearing for her to think she could change anything about the situation with the board. But he had failed spectacularly, and now he would have to take his medicine. He supposed there was no harm in calling the senator to listen to Liza’s idea, though.
An hour later, they were huddled together in Dorsey’s kitchen. Dorsey kept eyeing the loft. He couldn’t remember if the cleaning service had been here today. Would the bed be made? Would Liza’s dress still be crumpled on the floor? Liza opened a laptop, and Dorsey realized she was speaking to him.
“Of course, you want to balance your desire to provide affordable units with the need to turn a profit, or at least not lose money.”
“Right.”
“Okay, so in doing my research for writing this proposal, I found out that the Department of Housing and Urban Development allocates low-income housing tax credits. The developers then offer the tax credits to investors. The IRS allows developers to deduct one dollar from their tax liability for each LIHTC they purchase.”
Dorsey nodded. He saw where she was going with this. It could be a win-win. Convert Netherfield Court to low-income housing units.
“The board is very adamant about wanting to build a relationship with the federal government. This is a shortcut,” Dorsey said. “Shit, Liza. I think it could work.”
The senator shook his head on the video call. “Why don’t you call me when you have a real plan.” His eyes followed the movement of Dorsey’s hand swiping Liza’s bangs out of her eye. “Is it true what everyone is saying? People saw you coming out of his apartment?”
Dorsey looked over to Liza, unsure of what he should say. “Senator, I don’t see how that’s relevant.”
“Because you’re obstinate and hardheaded. I told you two to do this months ago. This plays much better to those cautious council members. This is afeel-good story,” he said mostly to himself, “but investors usually claim LIHTCs over a ten-year period. Pemberley is going to need cash up front to bring a project to fruition.” He wanted to shut them down. But Dorsey could tell he was still thinking. Liza had sparked an idea in him. They were a perfect team. She had the vision; he had the money. He would make anything happen for her if she asked.
Dorsey tapped his bottom lip. “You can offer the credits through a syndicator who puts together a group of investors. The syndicate sells the rights to future credits for immediate funding.”
“Okay, this just may work, but federal LIHTCs don’t always cover the whole cost of developing low-income housing. We’re still in the hole,” Gigi said.
Liza stood up. She was in full swagger. “I’m so glad you mentioned that, Gigi, because HUD offers a little-known funding program known as HOME that can be combined with LIHTCs that would give you a respectable twenty percent profit margin. It’s hella tricky, and we’ll definitely need a housing attorney, but we can convert Netherfield Court into all low-income housing and turn a nice profit.” Liza clapped her hands.
Dorsey looked at her in awe. His capable Liza had a solid plan to save his mother’s foundation.My Lady of Perpetual Help.He was completely hers. She had to know that.
After arranging a plan to meet with the board the next week, Dorsey closed the call with the senator and ushered Gigi out, then turned to Liza, who looked exhilarated but exhausted.“Liza, you should go get some rest.” He motioned toward the bedroom upstairs.
“My mother’s going to have a fit. I should go home.”
Dorsey’s brow creased.Foolish of you to think she was yours too.“Oh of course. I’ll drive you.”
“Dorsey, you have a lot to figure out here.”
Dorsey held Liza’s shoulders. “There’s not a lot to figure out.”
She raised an eyebrow.
“We’re going to run this by Finance and Legal. Put a finer point on some of the numbers. It’s a damned good idea.” He needed her here.Doesn’t she see that?
“I should really go,” she said.
“Let me call my driver.”
As he watched her drive off, her words echoed in his head:You have a lot to figure out.
REFINING FIRE
