Change In Housing Development Fund
Volunteer Board Leadership
Long-time Board Chair Reyno Giallongo of First County
Bank Passes Baton to
Donna Ramey of Savings Bank of Danbury
STAMFORD,
Conn., April 17, 2007- Housing Development Fund (HDF), a
unique nonprofit bank providing funding for affordable housing
and an array of homebuyer assistance programs, announced
that HDF board member Donna M. Ramey, Executive Vice President
and Chief Operating Officer of the Savings Bank of Danbury,
has been elected chair of its volunteer board of directors.
She succeeds Reyno A. Giallongo, Jr., Senior Vice President,
First County Bank who has served as chair for the past six
years. He will remain on the executive committee as Immediate
Past Chair.
Donna Ramey has served on the HDF board since 2003. As chair,
her vision is to help the premiere organization expand statewide.
It currently serves all of southwestern Connecticut. Ramey’s
relationship with HDF began when its President and CEO Joan
Carty invited the bank to become a member of its now-$28
million lending pool for multi-family housing. Since that
time, HDF and Savings Bank of Danbury have collaborated on
a number of affordable housing initiatives in the Danbury
area. Ramey serves as the Community Reinvestment Act officer
for her bank. She is an active member of a number of other
professional and non-profit boards, and a resident of Newtown,
Connecticut.
“As someone who is passionate about helping people become homeowners,” said
Ramey, “I’ve always enjoyed counseling first time buyers, particularly
those in need of financial assistance. In addition, during my 40 years in banking,
I’ve championed the creation of affordable housing. You need both, and
HDF is the solution. Rey has been a great chair, and it will be hard to fill
his shoes. With the help of HDF’s able staff led by Joan Carty, my great
executive committee and our diverse board, I hope to help take HDF to the next
level.”
Retiring Chair Rey Giallongo, a Stamford resident, is one of the founders of
HDF. He has been actively involved in all stages of HDF’s growth, including
program development with area lenders, a model that has stood the test of time.
Giallongo was engaged in creating partnerships with banks, town officials and
non-profit organizations, which enabled HDF to create first-time homebuyer assistance
and counseling programs and facilitate the building of affordable housing in
Fairfield County through affordable financing programs.
“
HDF has achieved significant results under Rey’s leadership,” said
Joan Carty. “We are very grateful for his commitment to affordable housing
and for contributing his significant banking experience to the development of
highly successful programs and partnerships. We are very excited to have as qualified
a successor as Donna Ramey. We look forward to working with her as she helps
us continue to address the affordable housing crisis in Connecticut.”
“It has been a pleasure to work with Joan Carty, one of the most knowledgeable
people in the area of affordable housing finance – as well as with her
wonderful staff and our highly engaged board of directors,” said Giallongo. “I’m
proud to say that we’ve created a one-of-a-kind organization.”
Other members of the executive board include: Vice Chair John Kline, President
and CEO, Union Savings Bank of Danbury; Treasurer Charles F. Howell, President & CEO,
Patriot National Bank; Secretary Joseph McGee, Vice President, The Business Council
of Fairfield County (SACIA); Assistant Secretary Lisa Sanders, Vice President,
Bank of America.
Other board members include: Benjamin Barnes, City of Stamford; Bruce Beinfield,
Beinfield Architecture; Ellen Bromley, City of Stamford; Jessica Fogg, Spinnaker
Companies; Clayton Fowler, Spinnaker Companies; Robin Gallagher, Webster Bank;
Pobie Johnston, New Neighborhoods; E. Phillip McKain, CTE, Inc.; Mina Minelli,
Wachovia Bank; Marjan Murray, People’s Bank; Ken Olson, Retired, Cytec
Industries; Jack Penfield; Robert E. Pfeiffer, General Electric Company; Al Shehadi,
National Trust Community Investment Fund; Richard E. Taber, First County Bank;
Ellen Tower, Citibank F.S.B.; Kathleen Walsh, Stamford Partnership, Inc.; Seymour
Weinstein, Attorney at Law.
About Housing Development Fund
Founded in 1989, the Housing Development Fund has expanded to serve all of southwestern
Connecticut from its headquarters in Stamford and a Danbury office opened in
2004. HDF offers a variety of homebuyer programs, including its First Time Homebuyers
Program, SmartMove low interest second mortgage program, CHFA (Connecticut Housing
Finance Authority) approved Homebuyer Education Classes Program and Below Market
Rate Program (BMR). HDF is a HUD-certified lender and Housing Counseling agency.
HDF manages public/private partnerships to lend funds for these affordable housing
initiatives. It has the largest public/private pool of mortgage financing for
affordable housing in Connecticut – both homeownership and multi-family
development- $38 million.
The Housing Development Fund, Inc. has its headquarters at 100 Prospect Street,
South Tower Plaza, Suite SP-101, Stamford, Connecticut 06901. It also maintains
an office at 8 West Street, Suite 202-204, Danbury, Connecticut 06810. For additional
information call Tami Strauss at 203-969-1830 x19 or visit www.hdf-ct.org.
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