About Urban Futures
45+ years of compliance expertise. As a service or a platform.
Urban Futures Bond Administration was founded in 1979 by Marshall Linn with a single purpose: to help public agencies manage the complexity of affordable housing compliance so they could focus on what they do best — providing quality rental housing in their communities.
Today, UFBA is one of California’s largest affordable housing compliance firms, serving housing authorities, bond issuers, and public agencies across the state. Our portfolio includes over 2,300 active projects and 150,000+ affordable units.
That work runs on UFBA CMS, our proprietary compliance platform — and it’s available to license, so firms and agencies nationwide can build on the same technology infrastructure we’ve spent decades refining.
Our mission
To protect the integrity of publicly funded affordable housing programs by providing public agencies with the most rigorous, technology-enabled compliance monitoring available — and to make that capability accessible at scale through modern software.
Our clients
UFBA’s clients are the public agencies responsible for affordable housing in their communities — not property owners or developers, though we work closely with them. Our primary relationships are with housing authorities, city housing departments, bond issuers, and state-chartered development authorities.
Notable clients include: Los Angeles Housing Department (LAHD) · California Statewide Community Development Authority (CSCDA) · numerous cities and housing agencies across California.
Leadership
Marshall Linn
President & CEO
Marshall founded UFBA in 1979 and has led the firm’s growth from a single-agency practice to California’s preeminent affordable housing compliance organization. His expertise spans LIHTC, bond programs, HOME, HUD Multifamily, and the full spectrum of publicly administered affordable housing financing.
Raette Frazeur, HCCP, NCP
Vice President
Raette joined UFBA in 2008 and manages the firm’s compliance operations across a portfolio of 150,000+ affordable units. She is a certified Housing Credit Compliance Professional (HCCP) and National Compliance Professional (NCP) — and a leading voice on compliance policy for UFBA’s public agency clients.
Sara Tobin, HCCP, NCP
Director of Operations
Sara has been in the industry 15+ years and is responsible for overseeing compliance staff for one of the firm’s largest multifamily portfolios. She specializes in the compliance monitoring of multifamily rental housing projects that are multi-layered, combining HOME, LIHTC, Bond & Project-Based Section 8 (among other programs) funding sources. She works with and educates Owners, Property Management Companies and Property Managers, reviews and analyzes compliance reports, and conducts audits. In addition to her monitoring responsibilities, Sara performs the department’s daily administrative tasks, oversees the clerical staff, and assists with client and project communications. Ms. Tobin attended Cal Poly Pomona.
Vicky Gomez, COS, LIHTC-PM
Compliance Lead
Vicky has been in the industry 6+ years and oversees compliance staff for the firm’s multifamily portfolio. She specializes in the compliance monitoring of multifamily rental housing projects that are multi-layered, combining HOME, LIHTC, Bond & Project-Based Section 8 (among other programs) funding sources. She works with and educates Owners, Property Management Companies and Property Managers, reviews and analyzes compliance reports, and conducts audits. Ms. Gomez is fluent in Spanish — both written and spoken — and holds the designations of Certified Occupancy Specialist (COS) and Certified Low Income Housing Tax Credit Property Manager (LIHTC-PM).
Norma Cruz, TaCCs®, HQS-S
Compliance Lead
Norma specializes in the compliance monitoring of multifamily rental housing projects that are multi-layered, combining HOME, LIHTC, Bond & Project-Based Section 8 (among other programs) funding sources. She educates and works with Developers, Owners, Property Management Companies and Property Managers to ensure compliance with Federal, State, and Local requirements set forth in Covenants and Regulatory Agreements. She reviews and analyzes compliance reports, conducts annual audits, and has led one-on-one and group trainings for property staff.
Ms. Cruz has been in the industry 14+ years; she previously worked in residential property management as a Compliance & Leasing Specialist, ensuring company compliance with Section 42 (Tax Credit), HUD Section 8, Bond, HOME, and related programs. Ms. Cruz is fluent in Spanish — both written and spoken — and holds the designations of Tax Credit Compliance Specialist (TaCCs®) and Housing Quality Standards Specialist (HQS-S).
The platform
The same system that runs UFBA’s managed service is available to license as a modern, secure online compliance platform — making UFBA’s compliance expertise accessible to compliance professionals and agencies nationwide. The next evolution of a 45+ year legacy. Request a demo to see it with your portfolio’s programs in mind.