Over 170 of our friends, partners, and supporters attended HDF’s 3rd Annual Benefit Breakfast on April 18 at the Stamford Plaza Hotel. Speakers at the event included Mayor Michael Pavia of the City of Stamford who proclaimed the date “Housing Development Fund Day”, Hon. David M. Walker of Comeback America Initiative who gave the keynote address on the financial challenges of our nation, and Rebecca Surran of News 12 Connecticut.

The Benefit also featured one of HDF’s clients, a single mother and cancer survivor who saved her home from foreclosure with the help of HDF, sharing her story as well as a video about our programs. The video can be viewed here: http://www.youtube.com/watch?v=2bwTdh064bY

Our dynamic speakers and a host of community members actively engaged in promoting affordable homeownership left all of us at HDF truly inspired and appreciative of the support for our work.

PHOTO GALLERY:
(Click on the arrows to move through the gallery.)

Director of Development and Communications

About Housing Development Fund
The Housing Development Fund, (HDF) headquartered in Stamford, CT since 1989 with offices in Danbury and Bridgeport, is a non-profit organization dedicated to creating safe decent places for people to live that they can afford. HDF, with a $3.5 million annual budget, provides counseling to families and first time homebuyers, many office workers, teachers, firefighters, and seniors on fixed incomes, in southwestern Connecticut. The organization provides low-interest, flexible financing and technical assistance to developers; assistance with financing and homeownership counseling to homebuyers and works with banks, foundations, non-profits and government agencies to create decent homes for people to live and work. HDF manages 2 loan funds (multifamily and single-family) with current funding commitments of $88 million.

Position Summary:
The Director of Development and Communications is an important and pivotal staff member in HDF’s goal to build a strong and diversified financial base for the organization. Major responsibilities include the formulation and execution of HDF’s fundraising, donor cultivation and communications activities. HDF’s contributed income is largely derived from institutional funders, public support, a limited number of special events and constituency building programs.

The Director will have functional reporting to the President and CEO with direct supervision of the Chief Operating Officer. The Director supervises a staff of 3 full and part time professionals and fellows and works closely with outside consultants and HDF program managers to raise the level of contributed income and promote HDF’s programs and services.

Job Duties and Responsibilities:

Core Responsibilities include:
• Plan and carry-out a fund development program that will ensure effective, coordinated and sustainable fundraising, focused mainly on corporate and foundation funding and public support;
• Produce and direct high-quality proposals and reports required to support ongoing private and public fundraising activities;
• In partnership with the President and Chief Operating Officer, develop and manage HDF’s relationships with its current and prospective funders, donors, and friends;
• Work closely with, and staff the newly created Board level Development Committee with meeting agendas, minutes and follow-up with assignments;
• Develop and lead the public fundraising strategy and government relations; track RFPs, manage reporting on state and federal grants;
• Determine the appropriate strategies for developing/testing an individual donor development program;
• Work with HDF program staff to help them understand organization and fundraising priorities and communication opportunities relevant to their projects;
• Conduct private and public prospect research identifying highest potential donors;
• Explore and establish web-based fundraising opportunities and donor engagement programs;
• Produce funding-related collaterals, solicitation, cultivation and marketing materials;
• Lead various development and public affairs projects, particularly the production of the annual report, funder presentations, executive correspondence and speeches, and electronic communications and social media;
• Maintain accurate accounting and tracking of all contributed income in “Giftworks”; interface with Finance to fulfill information requests and maintain reporting accuracy; oversee the management of HDF’s fundraising database.

Qualifications:
The ideal candidate will have 3-5 years experience in development and communications for a community development financial institution (CDFI) or related organization. The new Director will be a strategic and creative thinker who can communicate effectively across the funding spectrum as well as with board members and other constituents.

S/he will be an extremely organized, highly detail-focused individual who can be flexible and cheerful in responding to the needs of a small, fast-moving nonprofit. The ideal candidate will possess the following professional and personal abilities, attributes, and experiences:
• An entrepreneurial, creative approach to fundraising – a self-starter.
• Ability to develop funding opportunities based on program needs and accomplishments.
• A proven track record in successful private and public grant writing.
• Superior writing skills and communication abilities.
• Excellent financial analysis skills, with outstanding attention to detail.
• Ability to work collaboratively, and independently.
• Proficient to advanced skills in Word, Excel, Access, Outlook and PowerPoint.

Bachelor’s degree required; a related field of study is preferred (real estate asset management, lending, or development of housing or commercial projects a plus).

Competitive salary commensurate with experience. Comprehensive benefits package including three weeks paid vacation annually. Please send a cover letter outlining your qualifications to meet the requirements of this position along with your resume to:

Housing Development Fund
100 Prospect Street Stamford, CT 06901
RE: Director of Development and Communications
Or by email to: jtaylor@hdf-ct.org
No phone calls, please.

Webster Banker Named Board Chair of Housing Development Fund

 
WATERBURY, Conn., March 22, 2012 – Webster Bank is pleased to congratulate Robin Gallagher, senior vice president commercial real estate lending, on being elected Board Chair of the Housing Development Fund (HDF). Robin, who has been a Webster Banker since 2005, has been affiliated with HDF for 14 years, serving on the board for the last 10.

HDF has offices in Stamford, Bridgeport, and Danbury, Connecticut as well as Westchester County, NY. It was established in 1989 as a nonprofit organization to finance the development of affordable housing. Since then, it has grown to a loan fund with more than $89 million for the pre-development, acquisition, rehabilitation and construction of affordable housing. It also provides down payment and closing cost assistance to low and moderate income families. Almost 1,000 homes have been built with HDF financing— including facilities for seniors, special needs, and supportive housing. HDF has helped more than 1,400 individuals and families achieve the American Dream of purchasing a home and its Foreclosure Intervention Counseling Program has helped more than 900 troubled homeowners stay in their homes.

“Webster bankers give of themselves in the communities they serve across our footprint from Westchester County, N.Y. to Boston, Mass., and Robin’s commitment to the Housing Development Fund is an excellent example of this,” said William E. Wrang III, senior vice president and director commercial real estate. “Robin’s leadership, energy, and dedication exemplify Webster’s commitment to community which is a tradition since the bank was founded in 1935.”

“We are fortunate enough to have in Robin a person who is as dedicated to our mission as we are and is deeply familiar with us. She has already performed key roles with our organization including chairing the multi-family loan committee and chairing the development committee. So, we are feeling very excited to have her in the top leadership position,” Joan Carty, President and CEO of HDF.

For more information on the Housing Development Fund: www.hdf-ct.org.

About Webster

Webster Financial Corporation is the holding company for Webster Bank, National Association. With $19 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 168 banking offices, 473 ATMs, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Media Contact:
Sarah Barr, 203-578-2287
sbarr@websterbank.com

This press release was issued by Webster Financial Corporation and was initially posted at http://phx.corporate-ir.net/phoenix.zhtml?c=73114&p=irol-newsArticle&ID=1675962&highlight=.

Last week, we were able to witness first-hand the making of 41 Grand St. development (financed by the Housing Development Fund) in Danbury, CT. It was incredible how quickly Westchester Modular Homes was able to construct this property, erecting the homes in just a few days. This project (developed by ACF Properties and Westchester Modular Homes, Inc. of Fairfield County) will result in 12 new high-quality affordable townhouse units.

PHOTO GALLERY:
(Click on the arrows to move through the gallery.)

FREE Homeowners Mortgage Assistance Event

Sponsored by Governor Dannel P. Malloy, Attorney General George Jepsen, and the Connecticut Department of Banking

THURSDAY, MARCH 29TH
10:00AM – 7:00PM
Webster Bank Arena
600 Main Street, Bridgeport, CT

Don’t miss this opportunity to meet with your mortgage lender or a HUD-approved housing counselor.

Click the image below to full-size flyer:

HDF Convenes Wargame to Uncover a Path to Greater Energy Efficiency for Connecticut Homeowners

March 8, 2012

HARTFORD, CT — Over 80 leaders from government agencies, businesses, and nonprofit organizations gathered on March 6th and 7th on the Club Level at Rentschler Field for an event designed to uncover new ways to radically increase Connecticut homeowners’ adoption of energy efficiency measures. The Housing Development Fund (HDF) organized the event with support and a unique wargame approach provided by Booz Allen Hamilton. Their motivation was clear: action on energy efficiency is urgently needed as over 300,000 low- and moderate-income homeowners struggle to heat and power their homes each year.

The first day kicked off with rousing words of encouragement from Benjamin Barnes, Secretary of the Office of Policy and Management for the State of Connecticut and Daniel Esty, the Commissioner of Connecticut’s Department of Energy and Environmental Protection. Both encouraged participants to be bold, and work creatively on a complex set of problems ranging from how to effectively market the benefits of energy efficiency and influence consumer thinking about energy use to how financing can be offered in appealing and accessible ways so that consumers interested in making these kinds of home improvements can do so more easily and affordably. Their belief in this event was evident as both officials took part in the simulation through a large portion of the first day. Connecticut’s state government demonstrated support for increasing energy efficiency through the participation of over a dozen employees from eight different state agencies and quasi-governmental agencies, including the Connecticut Housing Finance Authority (CHFA), the Connecticut Department of Department of Economic and Community Development (DECD) and the Clean Energy Finance and Investment Authority (CEFIA).

Few participants in the two-day event had seen such a broad cross-section of stakeholders represented in one working group. The wargame structure mixed participants up into six teams representing State Government, Energy Suppliers, Nonprofit Agencies, Home Energy Contractors, Financial Institutions, and Residents (Homeowners and Renters). The goal of each team was to design programs that could unlock large-scale action. With sunlight pouring through floor-to-ceiling windows, participants communicated through the web and in-person to negotiate commitments from other teams needed to make their programs work. Once a structure was in place, teams pitched their programs to the “Residents” team to test the appeal their ideas had with the group tasked with representing the public.

Behind the scenes, organizers used economic models to calculate the impact of various programs and encouraged participants to both think big and draw on best practices from efforts in other states, as well as their own experience as practitioners. Teams received guidance from facilitators provided by both Booz Allen Hamilton and NeighborWorks America, a national housing organization that provided grant funding to support this unique event. By the end of the second day, participants had envisioned new collaborative approaches to unlock capital and provide low-interest loans for energy efficiency projects. Teams also identified complex issues that require attention including workforce training and the creation of clearer energy efficiency rating systems for resident buildings. HDF and Booz Allen closed out the second day by thanking the remarkable group for their time, creativity, and hard work, and they offered up a promise – that the simulation’s outcomes and insights would be documented through a report to be published this spring. HDF has also committed to provide the group that gathered last week and other stakeholders an opportunity to participate in working groups and to gather again this fall. HDF aims to keep this varied set of leaders connected and interacting to help progress on energy efficiency for residential buildings in Connecticut develop for the benefit of homeowners struggling with high energy bills.

About the Housing Development Fund– HDF is a certified Community Development Financial Institution (CDFI) and HUD-Approved Counseling and Lending Agency established 1989 as a nonprofit organization to finance the development of affordable housing. Since its inception, HDF has been creating affordable housing solutions for low- to moderate-income households in the high cost markets of southwestern Connecticut. In that time, it has grown to a loan fund with $45.7 million in assets that encompasses lending programs for pre-development, acquisition, rehabilitation, new construction, and permanent financing. Other projects have included affordable family housing, senior housing, special needs housing and supportive housing. In addition to its financing resources and functions, HDF provides homebuyers’ education and one-on-one counseling to help families qualify for special mortgage financing programs. HDF also provides foreclosure prevention services through monthly clinics and individual counseling.

For more information, contact John Chamberlain.

Click here to see photos from the Simulation event.

Housing Development Fund’s 3rd Annual Benefit Breakfast

Featuring Keynote Speaker David M. Walker
Founder, President, and CEO of Comeback America Initiative
with introduction by Rebecca Surran of News 12 Connecticut

WEDNESDAY, APRIL 18TH
8:00AM – 9:30AM
Stamford Plaza Hotel
Registration begins at 7:30AM

TO PURCHASE TICKETS:

Click here to buy tickets online.
Tickets are $50 each. Select “Donation”, then select “3rd Annual HDF Breakfast” in the drop-down menu and specify the number of tickets you will be purchasing and/or journal ad specifications.

For information about corporate sponsorship or buying a journal ad,
please contact Tiffany Lee at events@hdf-ct.org.

Dear Friends,

Housing Development Fund’s mission is to pave the way for Connecticut families to secure and keep quality affordable homes. Read on to learn how we’ve lived out that mission this past year.

CLICK HERE TO VIEW OUR 2011 ANNUAL REPORT ONLINE.

Sincerely,
Joan Carty
President and CEO

On November 28, 2011, the HDF staff took an opportunity to visit Litchfield County and meet some of our partners. As part of HDF’s Strategic Plan for Fiscal Years 2011-13, we have been working to build relationships that will allow us to expand our services to reach all of Litchfield County and Westchester County, NY. This year, the staff had a chance to meet some of our new partners by visiting the Foundation for Community Health in Sharon, CT where we met with members from HousingUs and Berkshire Taconic Community Foundation to discuss HDF’s efforts to provide internet-based homeownership counseling available to area residents by visiting the Foundation’s offices. The staff then had lunch at a local mainstay, the Fife’n Drum Restaurant before visiting and touring the Westchester Modular Homes factory. HDF recently closed a Multifamily Loan to finance a development that will include 12 townhome units, all of which will be built by Westchester Modular Homes, and the tour gave us a fascinating behind-the-scenes look at how they approach their work.

We look forward to the launch of our distance counseling in early 2012, and we hope to continue this trend of extending our services to other areas of Connecticut and beyond in the future.

PHOTO GALLERY:
(Click on the arrows to move through the gallery.)

October 18, 2011

STAMFORD, CT — In some of the most economically-challenged neighborhoods of Bridgeport, Connecticut, 36 homes have been guaranteed affordability for the next 30 years with financing from the Housing Development Fund (HDF), joining a first phase of 24 units for a total of 60 affordable rental apartments. This increase in the area’s affordable housing stock is expected to significantly reduce the homeless population in Bridgeport. Of the 13 properties that contain these 36 apartments, six had been foreclosed and boarded-up buildings, revitalized with funding from HDF to reintegrate them back into the community as affordable housing.

The foreclosure crisis left many homes abandoned throughout the state, but the City of Bridgeport was hit especially hard, with its rising unemployment and poverty rates (nearly one-in-four Bridgeport residents are currently in poverty*). HDF completed its Bridgeport Neighborhood Stabilization Program in July, which stabilized high-foreclosure areas and created both construction jobs and affordable housing in the epicenter of Connecticut’s foreclosure crisis. The recent conversion of additional foreclosed properties into affordable homes, made possible through HDF’s investment, is a further effort to stabilize at-risk neighborhoods and assimilate previously abandoned buildings.

In March of this year, in the first phase of this initiative, HDF guaranteed the affordability of the first 24 homes through financing a public-private partnership between the Bridgeport Housing Authority and private investors/developers. This month, HDF has expanded this funding to encompass the aforementioned foreclosed properties and 7 additional properties in Bridgeport, ensuring that the 36 apartments will be made affordable to low- and moderate-income families for 30 years. Each of the properties is under Section 8 contract, which also guarantees affordable rents to the tenants in all of the apartments for the next 15 years.

Financing from HDF facilitated the rehabilitation of these homes and their acquisition and included the covenant to rent the apartments at below-market rates. This development provides much-needed affordable housing supply in not only one of the most expensive housing markets in the nation, but also, more specifically, one of the most economically disadvantaged regions of Fairfield County. David Rich, Executive Director of supportive housing WORKS, a nonprofit dedicated to ending chronic homelessness in Fairfield County, believes that his homeless clients will benefit tremendously from the additional affordable homes created in these Bridgeport neighborhoods. “This financing [will] create enough permanent supportive housing to empty the family shelters in Bridgeport and Fairfield for at least one day”, said Rich.

HDF’s bank pool which funded this transaction is made up of the following members: First County Bank, Hudson City Savings Bank, Newtown Savings Bank, Patriot National Bank, People’s United Bank, Savings Bank of Danbury, TD Banknorth, Union Savings Bank, Webster Bank.

*Statistics from “American Jobs Act is good for Bridgeport”

About the Housing Development Fund– HDF is a certified Community Development Financial Institution (CDFI) and HUD-Approved Counseling and Lending Agency established 1989 as a nonprofit organization to finance the development of affordable housing. Since its inception, HDF has been creating affordable housing solutions for low- to moderate-income households in the high cost markets of southwestern Connecticut. In that time, it has grown to a loan fund with $45.7 million in assets that encompasses lending programs for pre-development, acquisition, rehabilitation, new construction, and permanent financing. Other projects have included affordable family housing, senior housing, special needs housing and supportive housing. In addition to its financing resources and functions, HDF provides homebuyers’ education and one-on-one counseling to help families qualify for special mortgage financing programs. HDF also provides foreclosure prevention services through monthly clinics and individual counseling.

For more information, contact John Chamberlain.

October 13, 2011

STAMFORD, CT — The Housing Development Fund (HDF) announced its plan to develop a Landlord Entrepreneurship and Affordability Program (LEAP) aimed at identifying a new class of “Landlord Entrepreneurs” who will play a significant role in revitalizing Connecticut’s urban cores. LEAP will create a sustainable and replicable model for landlords to purchase, rehabilitate, and manage 2-4 family properties through a combination of training and financing, thereby increasing the supply of quality affordable housing in the area and stabilizing local neighborhoods with high rates of foreclosure.

The development of this new program is made possible by a grant through the Innovations in Neighborhood Stabilization and Foreclosure Prevention Initiative of the Housing Partnership Network. The initiative, funded through a grant from the Citi Foundation, was created to help leading community-based organizations like HDF develop innovative solutions for neighborhood stabilization challenges in key metropolitan areas. Grant awards were made based on the potential for transformative community impact, ability to inform policy discussions around neighborhood stabilization, and the level to which they break new ground in developing solutions that can be replicated or scaled to have widespread impact in communities across the country.

Addressing the increasing disinvestment in the troubled housing supply of Connecticut’s cities, LEAP will encourage and support new owner-occupants who will have a vested interest in neighborhood stabilization. HDF will target individuals with income levels at or below 80% of the area median income (AMI), offering training and support in collaboration with NHS of New Haven. The rental units in the properties they purchase and rehabilitate must remain affordable to income-eligible families, responding to the region’s demand for more affordable housing.

Through the program, local residents will acquire small multi-family properties, secure subsidy and financing necessary for rehabilitation and energy conservation, and receive support and training on being a good landlord. Courses provided by our partner, NHS of New Haven, will include tenant selection, Fair Housing laws, record keeping, and the eviction process. Education in energy efficiency, conservation, and home repair (basic plumbing, carpentry, electrical, insulation, etc.) will result in lower operating costs for the homeowners.

With LEAP in place, HDF will make major inroads toward the development of more affordable rental opportunities for households including teachers, nurses, and firefighters to seize the opportunity to live in and contribute to the revitalization of Connecticut’s urban cores. Owning a multi-family property is similar to running a small business, and many of the buyers will become first-time landlords at the same time as they become first-time homeowners. LEAP will provide these individuals with the support and training they need to be successful for the long term, while making a greater impact on the supply of affordable, quality rental housing in southwestern Connecticut.

About the Housing Development Fund– HDF is a certified Community Development Financial Institution (CDFI) and HUD-Approved Counseling and Lending Agency established 1989 as a nonprofit organization to finance the development of affordable housing. Since its inception, HDF has been creating affordable housing solutions for low- to moderate-income households in the high cost markets of southwestern Connecticut. In that time, it has grown to a loan fund with $44.7 million in assets that encompasses lending programs for pre-development, acquisition, rehabilitation, new construction, and permanent financing. Other projects have included affordable family housing, senior housing, special needs housing and supportive housing. In addition to its financing resources and functions, HDF provides homebuyers’ education and one-on-one counseling to help families qualify for special mortgage financing programs. HDF also provides foreclosure prevention services through monthly clinics and individual counseling.

For more information, contact John Chamberlain.

September 30, 2011

STAMFORD, CT — The Housing Development Fund (HDF) has been awarded a charter by the esteemed organization NeighborWorks® America, the nation’s premier leader in affordable housing and community development and a national network of more than 235 independent, community-based nonprofits. HDF joins NeighborWorks and its member organizations that serve over 4,500 communities nationwide, working hard to meet the housing needs of hundreds of thousands of lower-income people, improve their lives, and strengthen communities through the production of affordable housing.

HDF enters a community of only six other existing charter members in Connecticut. This achievement involved HDF meeting strict membership criteria and performance standards and undergoing careful review by NeighborWorks America. NeighborWorks organizations are also reviewed annually to ensure they are providing the most effective and highest-quality services in the housing industry.

As a chartered member, HDF receives organization benefits and access to funding opportunities, technical assistance, training, programmatic support, and other resources provided by federally funded NeighborWorks America.

Since 1991, NeighborWorks organizations have assisted nearly 1.2 million low- to moderate-income families with their housing needs. In the last five years, NeighborWorks has generated nearly $20 billion in reinvestment in these communities. NeighborWorks America is the nation’s preeminent trainer for housing and community development professionals, as well as a nationally recognized leader in the fight against foreclosures.

Like NeighborWorks, HDF helps families attain homeownership and affordable rentals through counseling, homebuyer education, financing, and investment in affordable housing. NeighborWorks and HDF share similar missions, and both work to create opportunities for families to improve their lives and strengthen their communities by providing access to homeownership, safe and affordable housing and rentals, and counseling to help people find and also keep their homes.

“HDF is really excited to be part of NeighborWorks,” said Joan Carty, President and CEO of HDF. “We have long admired their demonstrated commitment to hardworking families and to building strong communities. We are thrilled to be part of a great team.”

About the Housing Development Fund– HDF is a certified Community Development Financial Institution (CDFI) and HUD-Approved Counseling and Lending Agency established 1989 as a nonprofit organization to finance the development of affordable housing. Since its inception, HDF has been creating affordable housing solutions for low- to moderate-income households in the high cost markets of southwestern Connecticut. In that time, it has grown to a loan fund with $44.7 million in assets that encompasses lending programs for pre-development, acquisition, rehabilitation, new construction, and permanent financing. Other projects have included affordable family housing, senior housing, special needs housing and supportive housing. In addition to its financing resources and functions, HDF provides homebuyers’ education and one-on-one counseling to help families qualify for special mortgage financing programs. HDF also provides foreclosure prevention services through monthly clinics and individual counseling.

For more information, contact John Chamberlain.