The Connecticut Housing Finance Authority (CHFA) Board of Directors announced today that John Craford has been appointed the Acting Interim President and Executive Director of CHFA. Mr. Craford will begin his interim role on March 1, 2008 while CHFA conducts a national search to find a permanent replacement for Gary King, CHFA’s outgoing President and Executive Director who is retiring on February 29.
Gary King, of Killingworth, has worked at CHFA for more than 20 years, serving as the Authority’s President and Executive Director for 16 of those years. John Craford, of Rocky Hill, is currently serving as the Authority’s Executive Vice President and has been with CHFA for more than 15 years.
“On behalf of the Board and residents of Connecticut, I want to thank Gary for his work over the many years he has guided CHFA,” Rolan Joni Young, Chairperson of the CHFA Board of Directors, said. “During his tenure, CHFA has initiated a number of programs that have had a positive impact on thousands of families throughout Connecticut and his commitment to assist homebuyers while guiding CHFA through the peaks and valleys of the housing market will be missed.
“While Gary’s absence will certainly be felt, we are fortunate to have John, with his knowledge, skills, and experience, ready to step in and assume the leadership post at CHFA on a temporary basis,” Chairperson Young concluded.
The Connecticut Housing Finance Authority was created in 1969. Throughout the years, CHFA has played a significant role in the housing market by financing thousands of mortgages each year for first-time homebuyers; more than 109,000 since its inception and has financed the construction and/or rehabilitation of over 28,000 affordable rental housing units. CHFA is able to make housing affordable to low- and moderate-income residents through its low-interest rate financing programs. Among the programs administered by CHFA are the Connecticut Fair Alternative Mortgage Lending Initiative and Education Services (CT FAMLIES), the Homebuyer Mortgage Program, the Downpayment Assistance Program, the Teachers Mortgage Assistance Program, the Urban Rehabilitation Homeownership Program, the Supportive Housing Programs, the Federal Low-Income Tax Program and financing for the creation and rehabilitation of affordable multi-family housing developments throughout the State.
CHFA was created in 1969 by the State Legislature. CHFA’s purpose is to help alleviate the shortage of affordable housing for low- and moderate-income families and persons in Connecticut, and when appropriate, to promote or maintain the economic development of the State through employer-assisted housing efforts. CHFA is financially self-sufficient and operates without state tax revenues. Information about CHFA is available on our website at www.chfa.org or by calling (860) 721-9501.