IMH Family of Companies

Michael M. Racy

Michael M. Racy

Michael M. Racy has extensive experience in the real estate development industry and in government relations. In 1994 Mr. Racy founded Racy Associates Incorporated, a firm that provides services in the areas of local, state, and federal government relations. Racy Associates Incorporated has been involved in significant real estate development projects in multiple sectors and much of its practice focuses on the necessary entitlements for major real estate development projects. Mr. Racy also serves as the Government Relations Director for Munger Chadwick, P.L.C., where he manages and directs the government relations practice of that firm. The Board evaluated Mr. Racy for purposes of independence as a member of the Board and as a member of the Compensation Committee. As part of the Board’s review, it considered that Mr. Racy served as a consultant to the Company in connection with a real estate transaction and the Company paid him $10,000 in connection with those services during 2013. Mr. Racy will serve on the Compensation Committee and as an alternate on the Investment Committee.