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.
Key Executive: Joan Carty, President & CEO
Governance: Volunteer Board of Directors & Salaried Staff
Headquarters Address: 100 Prospect Street
South Tower Plaza, SP-101
Stamford CT 06901-1696
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 202-04
Danbury CT 06810
Phone – 203-798-6527
Fax – 203-798-2142
Nature of Organization: A unique nonprofit bank that advocates
and facilitates the development of more affordable housing
units and encourages 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.
It develops and/or deploys a variety of lending programs including
down payment and closing cost assistance, and second mortgage
financing for first time homebuyers; first mortgages, pre-development
and rehab financing for multifamily development.
The organization also provides technical assistance to municipalities
in helping them fulfill their affordable housing needs. It
assists 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.
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
Major Achievements: Has the largest public/private pool of
first mortgage financing for affordable housing in Connecticut
– both homeownership and rental. $53.5 million
Is a HUD-certified lender and counselor.
Is changing the face of affordable housing in high-cost markets
in southwest Connecticut by helping children of local families,
teachers, municipal and other local employees afford to live
in the communities where they work.
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.
Honored with numerous awards
Partnerships: 18 Private Banks
Municipalities (including Housing Authorities
of Stamford, Norwalk, Danbury and Greenwich)
Governmental Entities (CHFA, DECD,
ADDI)
Private Developers
Other nonprofit agencies.
Funding Sources: Banks
Corporations
Foundations
Governmental Agencies (local, state, federal)
Faith-based Community
Individual Donors
Professional Memberships: Certified CDFI
Housing Partnership Network
Opportunity Finance Network
Media Spokesperson: Joan Carty
Media Contacts: Team PR – 203-454-8880
Ellie Becker erb@teampr.com
Melissa Diamond msd@teampr.com
Current Statistics
As of December 4, 2006
Number of Homebuyers: 678
Downpayment & Closing Cost Subsidies: $23.8 million
First Mortgages Leveraged $103.1 million
% Leveraged 23%
Number of Multi-Family Developments Financed: 41
Number of Affordable Rental Units Financed: 600
HDF Flexible Funding Pool: $2 million
HDF Multi-Family Loan Pool: $28.5 million
Other Subsidies: $8.5 million
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