Julie Romey

Senior Principal

Julie L. Romey is a Senior Principal in the Los Angeles office. She joined KMA San Diego office in 1995 and after taking time off to attend graduate school, she rejoined KMA in 2000 and has worked on a variety of projects ranging from structuring development agreements for individual development projects to developing affordable housing strategies for cities and counties.


Real Estate Advisory

Developer Selection

Julie has reviewed numerous development proposals on behalf of governmental entities such as LACDA, LAHD, and the cities of Fullerton, Huntington Beach, Placentia, and Long Beach. Her role in the developer selection process includes preparing the RFP/RFQ/NOFA, reviewing the financial proposal and pro forma submitted by the proposers, scoring development proposals based on the RFP requirements, taking part in developer interviews, developing deal term sheets, attending negotiation meetings with staff, reviewing draft development agreements, and preparing financial analyses and presentations for decision makers. Recent relevant projects include:

  • Los Angeles County Development Authority – Annual NOFA Application Review/Scoring
  • Los Angeles County Development Authority – LAC+USC Restorative Care Village Supportive Housing Project RFP Review/Scoring
  • City of Placentia – Baker Street RFP
Ground Lease Transactions

Reviews and negotiates ground leases for various jurisdictions.  She has worked with developers, lenders and policy decision makers to establish terms that satisfy the requirements of all parties. In particular, Julie has assisted the City and County of Los Angeles to create policies for ground leasing affordable housing sites.  .  Recent relevant projects include:

  • Orange County – Cash flow modeling for various county-owned properties
  • Los Angeles Housing Department – Assisted with drafting the affordable housing ground lease template.
  • Los Angeles Housing Department – Negotiates ground lease terms with affordable housing developers.

Affordable Housing

Affordable Housing Transactions

Throughout her career, Julie has been involved in analyzing residential projects with affordability components, with a majority of these projects utilizing the federal low income housing tax credit program.  Other funding sources Julie has experience with are low and moderate income housing asset funds (LMIHAF), HOME funds, No Place Like HOME, Project Homekey, tax-exempt bonds and other State of California housing programs. Recent relevant projects include:

  • Los Angeles County Development Authority – Project Homekey Feasibility Analyses
  • Los Angeles Housing Department – Has negotiated over 30 ground lease and sale transactions for 100% affordable development projects on City-owned land.
  • City of Palm Desert – Vitalia, Palm Villas, Crossings at Palm Desert
  • City of Irvine – Carwright Apartments Financial Analysis, HOME Layering Analysis and Managed Construction Loan Closing Process
Affordable Housing Strategies / Programs

Works with cities to ensure their housing programs are SB 341 compliant, including drafting a template for the annual report that is used by most Housing Successors across the State of California.  Julie also helps clients develop efficient homebuyer approval processes. Assists cities and counties with the Surplus Land Act process when disposing of city/county-owned land.  As it has become more difficult to use HOME funds and the increase in homelessness, Julie has assisted cities with establishing Tenant Based Rental Assistance (TBRA) programs.  Julie has also written the HOME Program Policies and Procedures manuals as well as HOME Subsidy Layering Analyses for various cities.  Recent relevant projects include:

  • Cities of Huntington Beach, Buena Park, Fullerton, Palm Desert, El Cerrito – SB 341 Annual Reports
  • City of Placentia – Baker Street RFP / SLA process
  • Cities of Anaheim and Brea – Homebuyer Approval Processes and Forms
  • City of Huntington Beach – TBRA Program
  • City of San Bernardino – HOME Program Policies and Procedures
  • City of Irvine – Cartwright HOME Subsidy Layering Analysis
Affordable Housing Monitoring & Training

Assists cities in monitoring affordable housing projects to ensure that the appropriate standards are imposed on projects that have used multiple funding sources. These assignments include reviewing affordability agreements and determining the affordability restrictions and loan terms in order to monitor the projects on an annual basis.  Ultimately, policies and procedures are established for future monitoring and reviewing files prior to city and HUD audits.  Julie has also provided training classes to cities and counties as well as a large landlord on the behalf of a local jurisdiction on the subject of ongoing compliance and monitoring issues for affordable housing projects.  Recent relevant projects include:

  • City of Irvine – Loan Monitoring Database
  • City of Anaheim – Training staff to monitor rental housing projects.
  • Los Angeles Housing Department – Pro forma analysis and ground lease negotiations.
Project Management Services

Julie provides understaffed clients with project management services such as training housing department staff on affordable housing processes, assist at various levels of involvement with construction and permanent loan closings, including final underwriting, lender calls, managing the legal document process.

  • Los Angeles County Development Authority – Provide project management assistance with construction and permanent loan closing negotiations and duties.
  • City of Anaheim – Provided Affordable Housing Manager services.
  • City of Huntington Beach – Provided Affordable Housing Manager services.

Land Use Economics

Assists universities with land use decisions by providing pro forma modeling of various financial scenarios as well as development scenarios.  These analyses are based on current market data and return requirements to assist the campus in identifying the highest and best use for their land as well as the impacts of various requirements that will be placed on the property by the university.

  • CSU Monterey Bay – Provided cash flow and land value services of a proposed long-term ground lease with The Michaels Organization.
  • CSU Chico – Provided feasibility analyses of several development prototype alternatives.
  • CSU Fullerton – Feasibility analysis for a Faculty/Staff apartment project.

Hobbies and Interests

Julie enjoys traveling with friends, spending time with her large extended family, entertaining friends at home, and reading spy novels.

Professional Credentials

  • Masters in Real Estate Finance – Cornell University
  • Bachelor of Science in Business Administration/Real Estate Finance – San Diego State University
  • California Association of Local Housing Finance Agencies (CAL-ALHFA); Board Member
  • Cornell Real Estate Council
  • Co-taught the “Planning and Economic Development Finance” class in the School of Policy, Planning and Development at USC for two years.