NEW YORK - The board of the New York City Housing Development Corporation formally approved Charles A. "Chuck" Brass as HDC's newest president on April 17, 2002. New York City Mayor Michael R. Bloomberg and HDC Chairperson and Commissioner of the New York City Department of Housing Preservation and Development (HPD) Jerilyn Perine announced Mr. Brass' appointment to the position on February 28 of this year, pending HDC board approval as required by statute. Mr. Brass will also take over as president of HDC's subsidiary, the New York City Residential Mortgage Insurance Corporation (REMIC). Mr. Brass has been Executive Vice President of both HDC and REMIC since January 2001. Prior to that, he served as President and CEO of the New York City Housing Partnership.

"Chuck has created and implemented tax-exempt and taxable bond financing programs which funded the development of more than 20,000 units of low-, moderate- and middle-income rental and cooperative housing citywide," said HPD Commissioner and HDC Chairperson Jerilyn Perine. "We are confident that Chuck will be able to continue to develop new housing programs that help to fill the need of affordable housing in this City."

"I'm looking forward to working with the Corporation's professional staff, Commissioner Perine and the rest of the Board, HPD, Mayor Bloomberg's Administration and all of our many partners to build upon HDC's thirty-year record of accomplishment," said Mr. Brass.

Mr. Brass originally joined the staff of HDC in 1984 and held various positions in the Development Department, including that of Vice President for Development from 1991 to 1998, when he was named HDC's First Senior Vice President for Development and Policy. Mr. Brass served in this position until he left for the Housing Partnership in March 2000.

Mr. Brass has also been active in lobbying for housing issues on the Federal level. He has been a member of the Board of the National Association of Local Housing Finance Agencies (NALHFA) since 1988, and served for three years as its president (1993-1996).

Prior to joining HDC in 1984, Mr. Brass worked at HPD from 1981 to 1984. He is a graduate of the State University of New York at Binghamton and holds a Master of Arts degree from the University of North Carolina at Chapel Hill. In 2001, he completed a Fannie Mae Fellowship at the Kennedy School of Government for Senior Officials in State or Local Government.

HDC will draw on Mr. Brass' extensive housing experience, particularly with HDC's innovative development programs, many of which he himself helped to create, to continue the Corporation's superlative service to New York City's affordable housing development community.

The New York City Housing Development Corporation (HDC) is a public benefit corporation with a seven member governing body. Jerilyn Perine, the Commissioner of the New York City Department of Housing Preservation and Development (HPD), is ex-officio Chairperson. Martha E. Stark, the Commissioner of the New York City Department of Finance (DOF), and Mark Page, the Director of the Office of Management and Budget (OMB), also serve as ex-officio members. The Mayor and Governor both appoint two members to HDC's governing body. Harry E. Gould, Jr. and Bill Green are mayoral appointees, with Mr. Green serving as Vice Chairperson. Michael W. Kelly and Charles O. Moerdler are gubernatorial appointees.

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