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Board Fact Sheet
Board Roster
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Board Facts
Board Name
Board Number
Department
Status
Active
Website
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Description
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The board consists of 7 members: 4 appointed by Governor; 1 with expertise or experience in finances or real estate; 1 who is a rural resident of the state or who has expertise or experience with a regional housing authority; 1 who has expertise or experience in residential energy efficient home-building or weatherization; and 1 who has expertise or experience in the provision of senior or low-income housing; plus the commissioners of Revenue, Community and Economic Development, and Health and Social Services; board selects executive director, who is an exempt employee and serves at the pleasure of the board; board elects chair at its annual meeting each year.
Function
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The board assists in providing decent, safe, and sanitary housing by providing mortgage loan financing. The board also acts as the principal source of residential financing in the state and functions as a secondary mortgage market. Under federal programs, the board operates the state's public housing and subsidizes rents. Additionally, the board remedies the acute housing shortage that exists in certain localities of the state and the short supply of necessary public buildings by providing for the financing, construction, and acquisition of public buildings for lease to the state.
Special Facts
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The corporation may not be terminated if it has bonds, notes, or other obligations outstanding. A quorum consists of a majority of members. Copies of minutes are sent to the Governor and the Legislative Budget and Audit Committee. The governor shall appoint members to give the Board of Directors a reasonable geographic balance among the regions of the state. The members of the board appointed shall have recognized competence and wide experience in housing, finance or other business management fields. Members serve at the pleasure of the Governor.
Other Compensation
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Board Meets
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Requirements
Financial Disclosure Required
No
Yes
Legislative Confirmation Required
No
Yes
Authority
Statute
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Public Law
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Other Authority
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Primary Contact
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Phone
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Fax
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Email
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