On September 22, 2015, Mark A. Hiatt voluntarily resigned as Chief Executive Officer of America First Multifamily Investors, L.P. effective as of September 30, 2015. Mr. Hiatt has been employed in various capacities with The Burlington Capital Group, LLC throughout his nearly 29 year tenure and believes this is the right time for him to pursue other interests. In conjunction with Mr. Hiatt's departure, on September 25, 2015, the Board of Managers of Burlington, the general partner of the general partner of ATAX, has appointed Chad L. Daffer as the Chief Executive Officer of ATAX, effective October 1, 2015.

Daffer has been employed by Burlington since January 1, 2005, working closely with Hiatt while serving as ATAX's Fund Manager. Daffer has over twenty-five years of experience in Investment Banking, Fixed Income Institutional Sales, credit analysis and structuring, underwriting and the placement of debt instruments.