QUICK FACTS ABOUT HOUSING DEVELOPMENT FUND
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Organization Name: Housing Development Fund (HDF)
Legal Entity: Housing Development Fund, Inc., a 501 (c)(3) Nonprofit Corporation
Founding & Key Dates: 1989 as Stamford Development Fund
1992 Name change to Housing Development Fund of Lower Fairfield County, Inc.
2003 Name Change to Housing Development Fund, Inc.
2004 Danbury office established.
2009 Bridgeport office established.
Key Executive: Joan Carty, President & CEO
Governance: Volunteer Board of Directors & Salaried Staff
Headquarters Address: 100 Prospect Street
Suite 100
Stamford CT 06901
Headquarters Phone/Fax: Phone- 203-969-1830
Fax- 203-323-8958
Web site: www.hdf-ct.org
E-mail: tstrauss@hdf-ct.org
Danbury Office Location: 8 West Street, Suite 202-204
Danbury CT 06810
Phone – 203-798-6527
Fax – 203-798-2142
Bridgeport Office Location: 940 Broad Street
Bridgeport CT 06604
Phone – 203-338-9035
Fax – 203-338-9056
Nature of Organization: HDF is a unique nonprofit organization that advocates
and facilitates the development of more affordable housing
units and encourages sustainable homeownership through a variety of initiatives.
HDF aggregates and manages public and private funds earmarked
for financing of affordable housing – both homeownership
and rental units.
We deploy a variety of lending programs, including
down payment and closing cost assistance; second mortgage
financing for first time homebuyers; and pre-development
and permanent first mortgages for multifamily development.
The organization also provides technical assistance to municipalities
in helping them fulfill their affordable housing needs. We
assist private developers in identifying qualified buyers
for affordable housing units.
HDF provides an array of programs related to successful homeownership
and multi-family development, including first time homebuyer
and landlord education and counseling programs.
Markets Served: HDF currently serves all towns within southwestern
Connecticut (this includes Fairfield County, New Haven County, and southern Litchfield County).
Branded Programs: First Time Homebuyers Program – Down
Payment & Closing Cost Assistance for First Time Homebuyers
SmartMove Homeownership Program – Low
Interest Second Mortgages up to 20% of Purchase Price
Workforce Housing Down Payment Fund – 0%, non-amortizing subordinate mortgages to assist first-time homebuyers purchasing in the towns or cities where they work.
Foreclosure Intervention Counseling Program – counseling and advocacy for concerned homeowners in danger of losing their homes to foreclosure.
Major Achievements: At more than $60 million, HDF has the largest public or private pool of first mortgage financing for affordable housing in Connecticut – both homeownership and rental.
As a HUD-certified counseling and lending organization, HDF has provided homebuyer education and counseling to over 3,500 Connecticut households, and helped almost 1,200 become first-time homebuyers.
HDF has developed innovative programs to facilitate affordable housing and/or homeownership for special needs populations, including elderly, transitional, public housing residents, mentally ill and previously incarcerated.
HDF has been honored with numerous awards.
Partnerships: 17 Private Banks
Municipalities (including Stamford, Norwalk, Danbury and Greenwich)
Governmental Entities (CHFA and DECD)
Private Developers
Other nonprofit agencies
Funding Sources: Banks
Corporations
Foundations
Governmental Agencies (local, state, federal)
Faith-based Community
Individuals
Professional Memberships: Certified CDFI
Housing Partnership Network
Opportunity Finance Network
Connecticut Mortgage Bankers Association
Media Spokesperson: Joan Carty (jcarty@hdf-ct.org)
Current Statistics
As of June 30, 2010
Number of Homebuyers: 1,188
Downpayment & Closing Cost Subsidies: $48.9 million
First Mortgages Leveraged $182 million
% Leveraged 26.8%
Number of Multi-Family Developments Financed: 46
Number of Affordable Rental Units Financed: Almost 800
HDF Flexible Funding Pool: $2 million
HDF Multi-Family Loan Pool: $33 million
Other Subsidies: $8.5 million
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