Governor Jindal Appoints Six to Louisiana Housing Corporation Board of Directors
BATON ROUGE, LA – October 28, 2011 – (RealEstateRama) — Today, Governor Bobby Jindal made six appointments to the board of the Louisiana Housing Corporation (LHC), the state’s streamlined housing agency created in the 2011 Legislative Session to unite dozens of housing programs previously spread across five state agencies.>
Under the LHC’s establishing legislation, the Governor has six appointees to the board. They are required by statute to be Louisiana residents and to have at least five years of experience in at least one of the following areas – banking or bonds, residential or multi-family construction, real estate, affordable housing development, nonprofit residential development or program of the Department of Housing and Urban Development. No two gubernatorial appointments shall reside in the same Congressional District and they are subject to Senate approval.
Appointments to the Louisiana Housing Corporation:
Mayson Foster, of Hammond, is the Mayor of Hammond. Foster served as President and Chief Operating Officer of Citizens National Bank, and as Division Manager with Hancock Bank of Louisiana and with Parish National Bank prior to his becoming Mayor in 2003. Foster will serve as a resident of the 1st Congressional District who has at least five years of experience in banking or bonds.
Ellen Lee, of New Orleans, is the Senior Vice President of Programs at the Greater New Orleans Foundation and was formerly the Assistant Director of the Disaster Recovery Unit (DRU) within the Office of Community Development. Lee will serve as a resident of the 2nd Congressional District who has at least five years of experience in a nonprofit residential development or program of the Department of Housing and Urban Development.
Frank Thaxton, III, of Shreveport, is a self-employed attorney and a retired district court judge. Thaxton will serve as a resident of the 4th Congressional District who has at least five years of experience in affordable housing development.
Matt Ritchie, of Pineville, is the owner of Ritchie Real Estate, LLC. Ritchie will serve as a resident of the 5th Congressional District who has at least five years of experience in Real Estate.
Malcolm Young, of Baton Rouge, is the CEO of the Louisiana Realtors and has served in this position since 1987. Young served on the Fannie Mae Board of Directors and on numerous other housing boards. Young will serve as a resident of the 6th Congressional District who has at least five years of experience in banking or bonds.
Dr. Daryl Burckel, of Lake Charles, is a professor of accounting and former chairman of the Department of Accounting, Finance and Economics at McNeese State University. Burckel will serve as a member of the 7th Congressional District who has at least five years of experience in banking or bonds.
The Corporation will be governed by an 11-member board, including six appointments by the Governor, two appointments by the Speaker of the House, two appointments by the President of the Senate and the Treasurer or his designee. The Corporation’s board will appoint an executive director for the corporation, subject to confirmation by the State Senate.
The Louisiana Housing Corporation will bring together the Louisiana Housing Finance Agency with some housing programs from the Office of Community Development’s Disaster Recovery Unit, including the LIHTC Piggyback Program and the Small Rental Property Repair Program. The LHC also will incorporate housing programs from the Department of Health and Hospitals and the Department of Children and Family Services, including the Emergency Shelter Grants Programs and the Rapid Re-housing Program.
This new, unified approach to Louisiana’s housing needs will allow the state to better attract and leverage private capital in the credit markets, ensure that those citizens positioned for home ownership also have access to opportunities to make this a reality, ensure that safe and affordable rental options are available for those who need it and develop policies focused on providing support that is financially sustainable for families by balancing low-income lending against risks to borrowers and taxpayers. The unified structure for housing programs will also streamline operations, ensuring that all programs operate within a high level of accountability, all programs operate within budget and limit risks to homeowners and taxpayers, policies encourage sustainable housing and that federal and state laws are administered consistently.
