07 HDF AR - HDF: Housing Development Fund, Inc.

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H D F S T A F F In back, from left to right: Mike Dreibelbis Research Assistant Melvina Peters Homebuyer Education Coordinator Mary Alice Dinho Homeownership Counselor Deborah Mackenzie Program Coordinator, Danbury Office Winifred Thomas Closing Coordinator Pat Ormsby Office Manager Myriam Mena Polk Loan Officer Duane Felix Loan Officer Delila Forehand Loan Officer Kevin Porter Assistant Director of Lending Seated, from left to right: Roxana Ubillus Homeownership Counselor Elyse Pitts Director of Lending Joan Carty President and CEO Tami Strauss Knowledge Development Officer Betsy McGroarty Director of Homebuyer Programs B O A R D O F D I R E C T O R S M A J O R C O N T R I B U T O R S Benjamin Barnes City of Stamford Bruce Beinfield Beinfield Architecture Ellen Bromley City of Stamford Jessica Fogg The Spinnaker Companies Clayton Fowler The Spinnaker Companies Robin M. Gallagher Webster Bank *Reyno Giallongo, Jr. First County Bank *Charles F. Howell Patriot National Bank Pobie Johnston *John Kline Union Savings Bank of Danbury *Joseph McGee The Business Council of Fairfield County Marjan Murray People’s Bank Ken Olson Retired, Cytec Industries Jack Penfield Interfaith Council Robert E. Pfeiffer GE Real Estate *Donna M. Ramey Savings Bank of Danbury *Lisa A. Sanders Bank of America Al Shehadi National Trust Community Investment Fund Richard E. Taber First County Bank Ellen Tower Citibank F.S.B. Kathleen Walsh Stamford Partnership Seymour Weinstein Attorney-At-Law Bank of America Bank of New York Barksdale Family Fund Citigroup Foundation Patricia Dolyak Charles & Judy Eaton Fairfield County Community Foundation Federal Home Loan Bank of Boston First Congregational Church of Greenwich First County Bank Housing Partnership Network Northeast Utilities Patriot National Bank Robert Pfeiffer Real Estate Financial REFA-CT Sound Federal Savings & Loan The Goodnow Fund The Charlotte & John Suhler Fund Union Savings Bank United Way of Western Connecticut Wachovia Foundation GOVERNMENT State of Connecticut, Department of Economic Development Thomas D. Dorsey of Northeast Utilities presents Joan Carty with $500,000 to establish HDF’s Workforce Housing Down Payment Fund E. Phillip McKain CTE, Inc. RGM Financial Marketing, Inc *Executive Board 2
Dear Friend, The theme of this year’s Report to the Community is “Opening Doors to Affordable Housing”. We chose this theme because it is such an appropriate image for our work. HDF helps families and communities open the door to better housing opportunities. We also open doors for our broad array of partners: banks, developers, governmental entities, not-for-profit agencies and housing authorities by linking together the resources needed to unlock housing opportunities. Through our strategic lending products, we use our most flexible resources to unlock the deeper layer of more restrictive financing, thus making the system work more efficiently from every perspective. We take this opportunity to measure our expanding impact and geography. ● Expanded our service area to include all of New Haven County and parts of Litchfield County. ● Financed 67 residential units through our Multi-Family Lending Program in Norwalk, Bridgeport and New Haven. ● Assisted 151 households to homeownership through our First Time Homebuyers Program, a 56% increase over the previous fiscal year, bringing our total number of first-time homebuyers to 608. ● Identified, qualified and assembled financing for 46 first time buyers of Below Market Rate units, part of larger market rate developments, on behalf of five developer clients. ● Extended and increased the SmartMove Loan Fund to $25.5 million, almost triple the starting point of $9 million in 2004. ● Made a smooth transition from our Board Chair, Reyno Giallongo, of First County Bank to his successor, Donna Ramey, of the Savings Bank of Danbury. ● Provided expert testimony on inclusionary zoning before the Norwalk Planning Committee, helping the City to adopt a regulation that will lead to many more affordable units. HDF is also collaborating with Norwalk to implement its Norwalk Homeownership Assistance Program. ● Convened symposia in Danbury on Inclusionary Zoning, attracting over 150 officials from throughout northern Fairfield County and another to address Predatory Lending in partnership with Fairfield University’s Center for Faith and Public Life. Both events featured national, regional and local experts. In conjunction with HDF’s First Time Homebuyer program, we also held two post-purchase seminars to help recent HDF buyers protect and maintain their investments in their homes. ● Underwent the high-quality, efficient, and rigorous CARS analysis this year, receiving a high rating. The CARS CDFI Assessment and Rating System is a comprehensive, third-party analysis of community development financial institutions that aids investors and donors in their decision-making. We look forward to another successful year at HDF, opening doors to affordable housing and positively impacting the families and communities we serve. Very truly yours, Joan Carty Executive Director Donna Ramey Board Chair 3
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07 HDF AR - HDF: Housing Development Fund, Inc.

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