Pub. 5 2014 Issue 4

www.wvbankers.org 22 West Virginia Banker O ur shared mission is a vital part of a growing and strong West Virginia. Our commitment to our lending partners and their willingness to use our programs means our residents have a chance to achieve the American Dream. Over the last year, the Fund has been part of a number of concerted efforts to not only expand homeownership, but to better understand the housing needs of those from across the economic spectrum and how they can better benefit from our programs. Perhaps our most ambitious and com- prehensive undertaking was a statewide housing needs assessment conducted at the request of our board of directors. This study helped us glean major insights into the housing situation in all 55 counties and presented our management team with a better understanding of how to address these challenges. Among our most urgent needs is to meet the housing needs of our growing senior population. We also learned that we must take steps to prepare for our state’s natural gas industry. Growth has been unprecedented in many counties as billions of cubic feet of gas are taken out of the ground. Experts are pre- dicting continued expansion and the clear hope is that this continued advancement will translate into exciting, sustainable economic development opportunities. For generations, the Fund has walked locked step with our lending partners to make certain that those who do the work that powers this nation have a safe place to call home. Coal miners, steel workers, loggers and so many others have worked with our trusted and dedicated lending partners to purchase what is often their biggest, most expensive investment. We are proud of our efforts on their behalf and we are honored so many have utilized our programs. A study done by the West Virginia Hous- ing Policy Work Group sheds some light on what other challenges are and what we can do to overcome them. The Fund and lenders play a vital role in this initiative, but elected leaders and lawmakers can set the groundwork for establishing true change. The Fund, lenders and non-profit organizations must be willing to coordi- nate. Working together and keeping our focus on the importance of helping those in need must be a top priority. Rather than tackle the issue piecemeal, we must work to develop a clear, insightful and compre- hensive strategy that engages stakeholders from across the housing industries. Com- municating with our elected leaders and policy makers will be of vital importance. We can and must do a better job of being their eyes and ears in the housing com- munity and better explain to them why housing not only matters, but is vital the future of our state. Along with many of our partners in the banking industry, including BB&T, Fifth Third Bank, Huntington Banks and a host of others, we participated in the West Virginia Housing Conference in September. Keynote speaker and former Secretary of Housing and Human Services Henry Cisneros noted during his opening remarks that social problems can only be solved when someone has a place to sleep at night. Cisneros eloquently illuminated why housing impacts so many facets of our life and why we must continue to devote resources to not only breaking the vicious cycle of poverty, but how and why housing plays a vital role in that dynamic. This year we plan to work with our part- ners to move these plans forward. Along with this state’s many banks and lending institutions, we remain committed to West Virginia. n Erica L. Boggess, Acting Executive Di- rector - Ms. Boggess joined the Fund in 1986, serving in various accounting and finance positions. She was appointed Deputy Director in January 2005 and was named Acting Executive Director in early 2012. Prior to joining the Fund, she worked in public accounting. Ms. Bog- gess is a graduate of Marshall University and is a Certified Public Accountant. The West Virginia Housing Development Fund has a long and proud tradition of working with banks across the state to provide homebuyers with affordable mortgage options and housing opportunities. West Virginia Housing Development Fund By Erica L. Boggess, Acting Executive Director