FY18
Report to the Community

 

VHDA

The Economic Impact of Housing in Virginia

 

FY18 Community Impact Report

 

 

A Military Family Shares Their Story

This year marked the 20th anniversary of VHDA’s partnership with the U.S. military. Since 1998, we've offered free homebuyer classes for service members and their families to help them prepare for homeownership. Here is one military family’s success story.

Free Homebuyer Classes for Military Families

 

FY18 Homeownership Report
FY18 Rental Housing Report
FY18 Community Outreach Report
FY18 REACH Virginia Report

 

 

FY18 REACH Virginia Report

 

Each year, VHDA contributes a large portion of our net revenues into a program we call REACH Virginia. We dedicate this money to help meet critical housing needs across Virginia: providing grants to housing counselors, revitalizing communities, making homes more accessible, helping first-time homebuyers make their down payment, helping our nonprofit partners increase their capacity, providing shelter for homeless individuals, and much more.


  • We've set aside $316 million to support $2.2 billion in housing-related programs since we began the REACH Virginia program in FY06.

  • In FY18, VHDA provided $15 million from REACH Virginia for Down Payment Assistance Grants to first-time homebuyers, leveraging over $650 million in single-family loans.

  • During FY18, we used $50 million in REACH Virginia subsidy to finance more than $206 million in loans and grants.

 

 

Financial Statement

 

 

Financial Statement

 

As an independent authority, VHDA receives no state tax dollars for its programs and operations. Traditionally, we have raised capital through the issuance of bonds. However, because of the federal government’s intervention in the mortgage markets, VHDA has been raising capital by securitizing most of its homeownership loans through Ginnie Mae and Fannie Mae. The multifamily program continues to be financed through bonds.

 

 

VHDA Leadership

 

 

VHDA Leadership as of June 30, 2018

 

VHDA Board of Commissioners

  • Kit Hale, Chair
  • Clarissa McAdoo Cannion, Vice Chair
  • Timothy Chapman
  • Manju Ganeriwala, Ex-Officio (State Treasurer)
  • Thomas A. Gibson
  • Erik Johnston, Ex-Officio (Director, Department of Housing and Community Development)
  • Charles C. McConnell
  • Shekar Narasimhan, Ex-Officio (Board of Housing and Community Development)
  • David E. Ramos
  • William C. Shelton

 

VHDA Organizational Leadership

  • Susan Dewey, Executive Director
  • Llew Anderson, Managing Director of Administration
  • Barbara Blankenship, Managing Director of Human Resources
  • Art Bowen, Managing Director of Rental Housing
  • Paul Brennan, Chief Counsel
  • Fred Bryant, Deputy Chief Counsel
  • Julie Camus, Managing Director of Risk
  • Pat Carey, Chief of Program Strategy / Chief Financial Officer
  • J. Howard, Managing Director of Information Technology
  • Mike Hawkins, Managing Director of Community Outreach
  • Tammy Neale, Chief of Staff
  • Toni Ostrowski, Managing Director of Homeownership
  • Hil Richardson, Managing Director of Capital Markets
  • Janet Wiglesworth, Chief Operations Officer

 

Advisory Boards

You can also view VHDA's current leadership.

About VHDA


About VHDA

 

When homes are affordable and accessible to jobs, good schools and transportation, everyone benefits. Individual lives are improved and communities as a whole grow stronger. VHDA was created in 1972 by the General Assembly to help Virginians attain quality, affordable housing. We carry out this mission by working in public-private partnerships with local governments, community service organizations, lenders, Realtors, developers and many others. We provide mortgages for first-time homebuyers, as well as financing for apartment communities and neighborhood revitalization efforts. We offer free homebuyer classes, support housing counseling, and help people with disabilities and the elderly make their homes more livable. We also administer the federal Housing Choice Voucher and Housing Credit programs in Virginia. VHDA is self-supporting and receives no state taxpayer dollars to fund our programs. Instead, we raise money in the capital markets, and we contribute a significant portion of our net revenues each year to help meet Virginia’s most difficult housing needs.

Learn more at vhda.com:

 

Virginia's Housing Partnership

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