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Employee's Area


Keenan Rice Keenan Rice
President

Keenan Rice is the president of MuniCap, Inc. and has worked almost exclusively in the areas of urban renewal, economic development, and growth management for the last 30 years. Prior to founding MuniCap, Inc., Mr. Rice was the director of the Washington office of a major public finance consulting firm and a principal at one of the leading public finance consulting firms in California.

Mr. Rice was also a vice president at a major real estate development firm and begin his career as a real estate development loan underwriter for an insurance company and savings and loan. Mr. Rice graduated with honors with a degree in accounting and also received a master's degree in finance. He has been a guest lecturer at a number of universities and has been a guest speaker at numerous conferences hosted by the Government Finance Officer's Association, The Bond Buyer, the Urban Land Institute, and other professional associations. Mr. Rice is a registered Municipal Advisor (Series 50) as well as a registered Municipal Advisor Principal (Series 54) and serves as MuniCap’s principal. Mr. Rice is also a licensed investment advisor representative (Series 65).

 
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Emily Metzler Emily Metzler
Senior Vice President

Emily Metzler has served over ten years as part of the MuniCap team. Ms. Metzler is passionate about real estate, furthering economic development opportunities, and assisting with the critical thinking aspect of creative funding mechanisms. In her position, Ms. Metzler manages over fifty different large-scale, catalytic development projects and actively participates in all aspects of the financial structure of each deal from conception to capitalization, implementation, and administration post issuance. In addition, she is responsible for new business development efforts in the markets for which she serves. Clients include public entities such as Fairfax County, VA, Howard County, MD, and Montgomery County, MD, as well as private entities such as Gaylord, Forest City, Related Companies, Newland, and PN Hoffman. Since joining MuniCap, Ms. Metzler has assisted with the issuance of publicly marketed bonds in excess of $1.2 billion. Furthermore, she worked extensively on the Southwest Waterfront bond offering in the amount of $145,000,000, which received the highest bond rating in the District of Columbia for a comparable bond issuance, and the first ever bonds to be issued in the State of New York secured solely with special assessments pledged as security.

Ms. Metzler is a 2005 graduate of Clarion University. She graduated with a degree in both real estate and finance. Ms. Metzler was an active member of the Financial Management Association, played intramural basketball, and obtained her real estate license for the Commonwealth of Pennsylvania during her college career.

Following graduation from Clarion University, Ms. Metzler was hired into the management program at National City Bank, now PNC, where ultimately, she maintained the role of a branch manager and business lending banker before being hired at MuniCap.

Ms. Metzler is active in multiple organizations including the Association of Public Finance Professionals, Council of Development Finance Agencies, Urban Land Institute, Lambda Alpha International, and Women in Public Finance, Maryland and Virginia Chapters. Ms. Metzler is a registered Municipal Advisor (Series 50) and has passed the Municipal Advisor Principal Qualification Examination (Series 54). Ms. Metzler serves as MuniCap’s Chief Compliance Officer.
 
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David Saikia David Saikia
Senior Vice President

David Saikia has nearly 20 years of specialized experience in public finance and urban redevelopment. Having joined MuniCap in 2001, Mr. Saikia now serves as the firm’s head of research and analytics, overseeing many of its most technically advanced projects. Throughout his career, he has honed a sophisticated understanding of the property valuation process and a nuanced approach to modeling projections of revenues and impacts. When it comes to developing forecasts of tax increment revenue, he is among the nation’s leading experts.

Mr. Saikia also writes most of the complex reports that MuniCap produces, including those that provide estimates of the revenue available to repay bonds. Drawing on his extensive interaction with local governments, developers, underwriters, and buyers of bonds, he crafts these studies to meet the specific and demanding requirements of the municipal bond market.

For any given project, Mr. Saikia advises clients on a range of aspects—from creating the plan of finance, to navigating the governmental approval process, to bringing the deal to market.

Prior to joining MuniCap, Mr. Saikia held roles in the Phoenix City Manager’s Office and the Wisconsin Department of Transportation. He earned his Master of Public Affairs from the University of Wisconsin La Follette School of Public Affairs and a Bachelor of Arts from Penn State University. Mr. Saikia is a registered Municipal Advisor (Series 50) and has passed the Municipal Advisor Principal Qualification Examination (Series 54). Mr. Saikia is also a frequent guest lecturer at universities and professional conferences.
 
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Charles Kungu Charles Kungu
Vice President & IT Manager

Mr. Kungu has been with MuniCap since 2003 and his responsibilities include ongoing bond administration for tax increment districts, special assessment districts, and special tax districts. Some of these roles include annual budget preparation, financial record keeping and trustee oversight, project monitoring, parcel research, preparing continuing disclosure reports, and surveillance and reporting, including SEC required reporting obligations. Mr. Kungu also serves as IT Director and is responsible for ensuring MuniCap information systems are running as expected. Prior to joining MuniCap, Inc., Mr. Kungu was a manager with Central Parking and was previously a financial analyst at two banks.

Mr. Kungu has an MBA in information systems from the University of Baltimore and a Bachelor of Science degree, summa cum laude, in business administration from Williams Baptist University. Mr. Kungu received numerous honors in his scholastic career, including being named to the conference scholar athlete team in soccer. Mr. Kungu is a registered Municipal Advisor (Series 50).
 
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Molly Dearstine Molly Dearstine
Vice President

Ms. Dearstine joined MuniCap in 2008, bringing many years of experience with financial statement preparation and reporting, and construction requisition preparation. She has worked in the public accounting, construction, and television network industries where she was instrumental in developing, implementing and documenting internal controls and accounting systems, and streamlining operations. She has also aided past employers in obtaining ISO9001 certification.

Ms. Dearstine has a Bachelor of Science, Business Administration degree from Bucknell University in Lewisburg, Pennsylvania, where she graduated cum laude, with a major in accounting and a minor in management information systems. She also completed her Masters of Acupuncture degree at Maryland University of Integrative Health in 2013. Ms. Dearstine is a registered Municipal Advisor (Series 50) and has passed the Municipal Advisor Principal Qualification Examination (Series 54).
 
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Amanda Norman Kathy Lovaas
Manager

Ms. Lovaas’ primary responsibilities include preparing financial statements for special districts, coordinating with auditors, performing arbitrage rebate calculations, reviewing requisitions for bond funds, and supervising staff for efforts related to journal entries, account reconciliations for project bank accounts held with trustees, and other accounting tasks. She has been with MuniCap since January 2018.

Ms. Lovaas graduated cum laude from the University of Maryland with a degree in accounting. She is an active CPA, as well as a CGMA, Chartered Global Management Accountant. Ms. Lovaas is a registered Municipal Advisor (Series 50) and has passed the Municipal Advisor Principal Qualification Examination (Series 54). She is a member of the Maryland Association of Certified Public Accountants (MACPA) and the American Institute of Certified Public Accountants (AICPA).

Ms. Lovaas previously was the Controller for Search Ministries, a non-profit based in Ellicott City, MD, where she was the primary accounting contact for the board, external auditors, and thirty field staff. She also was responsible for the design and implementation of internal controls. In addition, Ms. Lovaas previously held the title of Internal Audit Manager at Giant Food where she planned and supervised audits of retail, distribution, manufacturing, real estate, and construction subsidiaries.
 
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Amanda Norman Jaymie Sheehan
Manager

Ms. Sheehan joined MuniCap, Inc. in May 2017. Ms. Sheehan is a registered Municipal Advisor (Series 50) and has passed the Municipal Advisor Principal Qualification Examination (Series 54). Ms. Sheehan is also a licensed investment advisor representative (Series 65). In her current role, Ms. Sheehan is responsible for providing ongoing bond administration services for a number of tax increment districts, special assessment districts, and special tax districts. Services provided include but are not limited to annual budget preparation, financial record keeping and trustee oversight, investment of bond proceeds, project monitoring, parcel research, preparing continuing disclosure reports, and surveillance and reporting, including SEC required reporting obligations.

Ms. Sheehan has a B.S.B.A from Clarion University of Pennsylvania, where she graduated magna cum laude with degrees in finance, human resource management, and general management. Ms. Sheehan was a member of the Clarion University chapter of the Society for Human Resource Management and the Society for Advancement of Management. Prior to joining MuniCap, Ms. Sheehan worked for the Clarion University Small Business Development Center.
 
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Amanda Norman Max LeVee
Senior Associate

Mr. LeVee specializes in financial modeling and the implementation of public financing programs for numerous projects. Mr. LeVee’s responsibilities consist of project management, financial modeling, and analytical research related to tax increment, special tax, and special assessment financing.

Mr. LeVee obtained a Bachelor of Science degree from West Virginia University in business administration, with a focus in finance. Prior to joining MuniCap, Mr. LeVee worked for Wells Fargo in Collateral Trust Services. Mr. LeVee is a registered Municipal Advisor (Series 50).
 
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Joana Feimi Joana Feimi
Senior Associate

Ms. Feimi specializes in financial modeling and the implementation of public financing programs for numerous projects. Ms. Feimi’s responsibilities consist of project management, financial modeling and analytical research related to tax increment, special tax, and special assessment financing. Ms. Feimi handles the preparation of financial projections related to project feasibility, preparation of economic and fiscal impact analyses and reports related to financial analyses.

Ms. Feimi obtained a Bachelor of Science in Finance from University of South Florida and has a background in SBA commercial real estate lending and small business banking.
 
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Joana Feimi Chris Harrington
Manager

In his role at MuniCap, Mr. Harrington assists in doing the research and cultivation of writing of numerous studies and reports. Prior to joining MuniCap, Chris worked for Baltimore City’s Department of Finance as a budget and management analyst. During his tenure in Baltimore City, he oversaw the budget for eight City agencies with annual operating budgets of nearly $300 million. Additionally, he was the legislative liaison for the Department of Finance, working to develop fiscal notes in response to proposed City Council legislation.

Before joining the Department of Finance, Chris was a Government Affairs and Public Policy Manager for an education advocacy organization in Connecticut. During that time, he developed numerous policy proposals and negotiated with lawmakers regarding changes to Connecticut’s education laws and regulations.

Chris is an experienced municipal finance professional with a background in public management systems and economic and policy analysis. He received a dual Master of Business Administration (MBA) and Master of Public Policy (MPP) degree from the University of Maryland.
 
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Amanda Norman Osa Ogbebor
Senior Associate

Osa Ogbebor is responsible for providing accounting services as a part of MuniCap’s on-going bond and special district administrative services. These services include preparation of monthly account journal entries, bookkeeping, 1099 filling and year-end reporting.

Prior to joining MuniCap, Inc., Ms. Ogbebor worked as bookkeeper and payroll administrator with a CPA firm. In her prior role, she was responsible for filing 1099s, keeping general ledgers, preparing monthly account reconciliation, payroll services, individual tax preparation and year-end reporting for various small businesses.
 
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Amanda Norman Jackie Abraham
Senior Associate

Ms. Abraham is responsible for providing ongoing bond administration and compliance services to a number of tax increment districts, special assessment districts, and special tax districts. A primary focus of Ms. Abraham’s work is ensuring proper project surveillance and annual reporting, including monitoring and managing SEC required reporting obligations and deadlines. Major compliance services include oversight of compliance with SEC Rule 15c2-12 and related MSRB rules, which specifically applies to municipal securities, to ensure timely continuing disclosure. Ms. Abraham is a registered Municipal Advisor (Series 50) and has passed the Municipal Advisor Principal Qualification Examination (Series 54).

Ms. Abraham has a Bachelor of Science degree from the Merrick School of Business, University of Baltimore, where she graduated cum laude, with a major in finance. Prior to joining MuniCap, Ms. Abraham served as a financial sales consultant at PNC Bank, was an agribusiness project manager for the United States Peace Corps and served as a finance and compliance manager for the Akola Project in Jinja, Uganda. Each of these experiences have facilitated her growth in and provided strong expertise in economic development and public finance. Similarly, it has fostered her strength in her ability to communicate effectively and efficiently and manage deadlines, as well as client relations.
 
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Amanda Norman David Saustad
Senior Associate

Mr. Saustad specializes in financial modeling and the implementation of public financing programs for numerous projects. His responsibilities consist of project management, financial modeling, and analytical research related to tax increment, special tax, and special assessment financing.

Mr. Saustad’s educational background includes a Master of Public Affairs degree from the University of Texas at Austin LBJ School of Public Affairs and a Bachelor of Arts degree in both economics and political science from Boston College. Prior to joining MuniCap, Mr. Saustad worked in budget offices at the local government level. Mr. Saustad is a registered Municipal Advisor (Series 50).
 
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Amanda Norman Jason Jee
Manager

Mr. Jee’s primary responsibilities include preparing financial statements for special districts, coordinating with auditors, preparing arbitrage rebate calculations, reviewing requisitions for bond funds, and supervising staff for efforts related to journal entries, account reconciliations for project bank accounts held with trustees, and other accounting tasks.

Mr. Jee graduated with a Bachelor’s of Science in accounting from the Smith School of Business at the University of Maryland.

Mr. Jee started his career at Reznick Group, now known as CohnReznick, as an auditor. He audited clients in real estate, defense contracting and renewable energy sectors. After leaving CohnReznick, he became a senior accountant at Kettler, a privately held real estate developer, where he worked on land development and construction projects.
 
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Amanda Norman John Doherty
Associate

Mr. Doherty is responsible for providing ongoing bond administration and compliance services for a number of tax increment districts, special assessment districts, and special tax districts. Services include annual budget preparation, financial record keeping and trustee oversight, project monitoring, preparing continuing disclosure reports, and surveillance and reporting, including SEC required reporting obligations.

Mr. Doherty received a Bachelor of Science in finance and a minor in accounting and international business from Cabrini College. He was also a member of the varsity men’s lacrosse team. After graduation, John worked as a mortgage loan officer for NewDay USA. Prior to joining Municap, John was a manager of operations support at Teksystems Inc., where he provided financial oversight to projects in the Northeast sales region.  Mr. Doherty is a registered Municipal Advisor (Series 50).
 
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Amanda Norman Eric Gettmann
Associate

Mr. Gettmann is responsible for providing ongoing bond administration and compliance services for a number of tax increment districts, special assessment districts, and special tax districts. Services include annual budget preparation, financial record keeping and trustee oversight, project monitoring, preparing continuing disclosure reports, and surveillance and reporting, including SEC required reporting obligations.

Mr. Gettmann received a Bachelor of Business Administration in finance and a minor in computer information systems from James Madison University. After graduation, Eric worked as a project analyst and then as a manager of operations support at Teksystems Inc., where he specialized in process improvement, team development, and providing financial analysis for IT services projects across the country. Mr. Gettmann is a registered Municipal Advisor (Series 50).
 
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Amanda Norman Anthony Adewusi
Associate

Mr. Adewusi is responsible for providing ongoing bond administration services to several tax increment districts, special assessment districts, and special tax districts. These services include annual budget preparation, parcel research, account reconciliations and trustee oversight, general project management, and surveillance and reporting, including the preparation of SEC 15c2-12 annual reporting obligations.

Mr. Adewusi obtained a Bachelor of Science in Finance from the University of Maryland’s Smith School of Business. While at Smith, he was a member of Hillman Entrepreneurship Program. Prior to joining MuniCap, Mr. Adewusi worked for Merrill Lynch in the Global Wealth and Investment Management division. Mr. Adewusi is a registered Municipal Advisor (Series 50).
 
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Kerry Blum Kerry Blum
Office Manager

Ms. Blum is responsible for corporate office management and in-house accounting functions. She also assists with MSRB compliance.

Ms. Blum has over twenty-five years of experience in accounting and office management and has worked in a diverse range of industries. She obtained an associate degree in accounting from Catonsville Community College.
 
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Kerry Blum Michael Spatz
Senior Associate

Mr. Spatz is responsible for providing bond administration services to a number of tax increment districts, special assessment districts, and special tax districts. These services include annual reporting, parcel research, account reconciliation, trustee oversight and general project management.

Mr. Spatz also works as the National Field Manager of Team Up for 1, a 501(c)(3) charity organization based in Baltimore, Maryland. In this capacity, Mr. Spatz assists with team adoptions, matching children with physical and developmental challenges with different high school, college, and professional sports teams. Through ceremonies, team activities and programs, children and families receive support and compassion to improve their quality of life.

Mr. Spatz graduated with a bachelor’s degree from the University of Kansas in Lawrence, Kansas.
 
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Kerry Blum Lauren Lust
Senior Executive Assistant

Ms. Lust is responsible for assisting senior management and coordinating office management. She works directly with senior level employees and also assists with office management, including assisting with accounts payable, accounts receivable, banking, and invoicing. Ms. Lust also researches, prepares and finalizes certain company marketing and presentation information.

Ms. Lust has over ten years of experience in customer service, including five years of supervisor and management roles, and has worked in a diverse range of industries. Ms. Lust shows strong organizational, project management and problem-solving skills in her daily work.
 
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