MSHDA Board Appoints Workman Acting-Executive Director

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LANSING, Mich. – August 22, 2014 – (RealEstateRama) — The Michigan State Housing Development Authority Board of Directors today voted unanimously to appoint Deputy State Treasurer Wayne Workman as Acting-Executive Director for the Housing Authority, effective immediately.

Workman has been Deputy State Treasurer for Local Government Services since July of 2013. Prior to that, he was with Robert W. Baird and Co., where he provided investment banking and financial advisory services to the Department of Treasury and numerous other governmental and non-profit entities.

“Members of this board take our responsibility for overseeing the fiduciary stability of the agency very seriously and we agree that Mr. Workman will bring a steady hand while a search for a permanent executive director continues,” said Tom Saxton, Chief Deputy State Treasurer and Chair of the MSHDA Board. “It is important that we strive for continued progress for the Authority as staff works to implement all new and existing programs and objectives for enhancing Michigan’s housing options, neighborhood stability, and economy.”

Over the last several months, MSHDA has launched nationally-acclaimed $100 million blight removal campaigns in Detroit, Flint, Grand Rapids, Saginaw, and Pontiac; spearheaded the State’s $800 million effort to stabilize neighborhoods hit hard by the foreclosure crisis; and, has maintained a AA bond rating, among the highest for State housing finance agencies. Additionally, staff is spearheading key initiatives such as the Michigan Mezzanine Investment Fund, Michigan Community Development Corporation (MCDC), and the State of Michigan EB-5 Regional Center.

“The Board appreciates all that MSHDA staff has done to assist with Michigan’s economic comeback and to make a positive difference in the lives of thousands of residents,” said board member Carl English. “My fellow board members and I are resolute in our commitment to be good stewards for MSHDA and are confident that given its excellent leadership team, the good work being done on behalf of the people of Michigan will continue.”

MSHDA is now recognized by the U.S. Department of Housing and Urban Development (HUD) for strategic excellence in foreclosure prevention and other housing-related initiatives.

The Michigan State Housing Development Authority (MSHDA) provides financial and technical assistance through public and private partnerships to create and preserve decent, affordable housing for low- and moderate-income residents and to engage in community economic development activities to revitalize urban and rural communities.*

*MSHDA’s loans and operating expenses are financed through the sale of tax-exempt and taxable bonds as well as notes to private investors, not from state tax revenues. Proceeds are loaned at below-market interest rates to developers of rental housing, and help fund mortgages and home improvement loans. MSHDA also administers several federal housing programs. For more information, visit www.michigan.gov/mshda.

Contact: Katie Bach
Media Affairs Manager

517.335.4786

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