Connecticut Housing Finance Authority (CHFA)

• CHFA exists to alleviate the shortage of housing for low- and moderate-income individuals and families.

• The authority is a “body politic and corporate. ”

• The governor and legislative leaders appoint its 15-member board of directors.

• Board members must be experienced in all aspects of housing, including design, development, finance, state and municipal finance, and management.

• The governor appoints, and both houses confirm, the chairman to a five-year term.

QUESTIONS

1. How has your time practicing law at a private firm prepared you to chair CHFA?

2. The Department of Economic and Community Development (DECD) is the state's lead housing agency. However, CHFA has taken on a growing role in managing state-financed affordable housing. This and other issues have reportedly caused some tension between DECD and CHFA. What will you do to help ensure interaction with DECD is as smooth as possible?

3. How would you describe the current housing market in Connecticut?

4. In 2003, DECD transferred its housing portfolio to CHFA, and CHFA gave $ 85 million to the state in return. The portfolio consists of over 17,000 units, including moderate-income rental, elderly, and congregate housing projects. Many of these developments are in desperate need of proper maintenance and capital improvements. Is it possible to make and keep these developments safe and modern while maintaining the low-rents that are necessary to keep them affordable?

5. CHFA sells federally tax-exempt bonds and uses the proceeds to provide low interest home mortgages. Explain how federal regulations and bond market forces affect CHFA's ability to provide these mortgages to low- and moderate-income people?

6. Should CHFA attempt to finance more affordable multi-family housing developments?

7. Given your experience serving on CHFA's board in 2006, what will you attempt to change, if anything, as chairperson?

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