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Leila Finucane selected as President and Chief Executive Officer
Victory Housing, Inc. Board of Directors is pleased and excited to announce that Leila A. Finucane has been selected to serve as the next President and Chief Executive Officer. Ms. Finucane succeeds James A. Brown, Jr. who is retiring after successfully leading Victory Housing for 26 years. Ms. Finucane will assume this leadership position on February 6, 2017.
Ms. Finucane currently serves as Senior Manager, Branch Activity Management, Network Management at Capital One Bank in McLean VA. She previously held leadership positions in affordable housing in the region in Community Development at Capital One, NeighborWorks America and as Director of the Department of Housing and Community Development in Washington, D.C. Ms. Finucane has spent the majority of her career in real estate, and more specifically affordable housing, from banking, government, and non-profit perspectives, and holds advanced degrees in law and urban planning. She has also served as a Board member of Victory Housing with knowledge of the organization and understanding of the relationship with the Archdiocese of Washington. Ms. Finucane is well positioned to continue the positive impact Victory Housing has in our community.
"I am pleased that the Search Committee of the Board completed a successful search and selected Leila as the next Victory Housing President and CEO," says Jim Brown, outgoing President and CEO. "I have worked with Leila in several capacities in the past few years and believe she is highly qualified and that her values, skills and experiences are an excellent fit with Victory Housing. I'm confident that she will provide the strategic leadership that Victory Housing needs for the future."
"We are extremely enthusiastic about Leila leading our organization into the future. Her knowledge of the organization and the affordable housing and real estate development field will be invaluable. Please join us in welcoming her," says Paul E. Johnson, Jr. chair of the Victory Housing Board of Directors.
"This is a wonderful organization and a great opportunity. I look forward to advancing the great work of Victory Housing and to working with the Archdiocese of Washington, Victory Housing's staff, board, partners and stakeholders," says Ms. Finucane. "I look forward to building on the legacy of Jim Brown, whose leadership and vision has brought Victory Housing to its current successful prominence and stellar reputation."
Victory Crossing Underway
Victory Crossing, a new 105-unit community for mixed-income seniors, is now under construction near the intersection of New Hampshire Avenue and Columbia Pike in the White Oak area of Silver Spring. The sources for the $23.8M project include a $7.8M tax-exempt loan through the Freddie Mac TEL program with the Maryland Community Development Administration ("CDA") as the governmental lender. Other sources include $5.4M in loans from the Montgomery County Department of Housing and Community Affairs, a $2.5M loan from CDA's Rental Housing Works program, $5.8M in Federal Low-Income Housing Tax Credit equity (Hudson Housing as the syndicator and Capital One as the investor), and a $2.3M loan and deferred development fees by Victory Housing. Victory Crossing will have a Housing Assistance Payments Contract for 39 households who will pay 30% of their income towards rent. This is the first project in the State of Maryland to close utilizing the Freddie Mac TEL program.
The building was designed by Grimm and Parker Architects and Hamel Builders is the general contractor. The building will be completed in early 2018. Habitat America LLC will be the property manager.
Capital One Sponsors Digital Banking Pilot Project
During October, with grant funding from Capital One, a group of residents from Victory Court in Rockville participated in a six-class digital banking pilot program to help better understand the needs and concerns for seniors utilizing online banking. Each resident had use of an iPad Air2 tablet computer during the sessions, which involved watching a number of short videos, followed by discussion and practice on the iPads. The classes were led by Patrick Sheehan of WebHarmony. At the final class, each participant received a certificate and a gift card in appreciation for their time and feedback.
Victory Housing Recognized For Green Achievements
In 2015, Victory Housing was recognized for its commitment to being a good environmental citizen. WGL Energy presented Victory Housing with its Certificate of Environmental Stewardship for using 10% wind power (606,670 kilowatt hours total) at its Maryland communities. In addition, Montgomery County awarded Victory Terrace in Potomac a recycling award for achieving the highest recycling rate in the County in 2015.
Victory Terrace Marks 10th Anniversary
On October 25th, Victory Terrace residents participated in a festive celebration of the community's first decade of operation. Located on 16 acres off of Newbridge Drive in Potomac, the 72-unit community provides affordable rental apartment living for mixed-income seniors. Residents were treated to a performance by a Bolivian dance troupe, followed by a reception complete with refreshments and entertainment from a piano player. Happy Birthday, Victory Terrace!
Bank of America Charitable Foundation Makes Major Gift
Victory Housing was the grateful recipient in June 2014 of $20,000 in operating support from the Bank of America Charitable Foundation. This significant donation will be used to pay for Victory Housing pre-development work on new affordable housing projects, as well as asset management of existing communities throughout the Washington, D.C. metropolitan area. Victory Housing president Jim Brown applauded the Foundation's gift for "providing the necessary working capital to keep Victory Housing's development pipeline primed and to ensure that all of our communities continue to provide the highest quality affordable housing."