Enterprise Commends President-Elect Obama for Selection of Shaun Donovan to Lead U.S. Department of Housing and Urban Development

Columbia, MD – December 16, 2008 – (RealEstateRama) – Enterprise Community Partners, Inc. applauds President-Elect Barack Obama for selecting Shaun Donovan to lead the U.S. Department of Housing and Urban Development (HUD). Currently, Shaun is commissioner of the New York City Department of Housing Preservation and Development. His vision and leadership have been the driving force behind Mayor Michael Bloomberg’s 10-year, $7.5 billion New Housing Marketplace Plan, which is the largest municipal housing plan in the country and a model for how to create and preserve affordable housing for cities across the country.

Since 2004, Enterprise has witnessed this leadership firsthand on several major affordable housing initiatives, including Enterprise’s Billion Dollar Promise to invest $1 billion by 2009 to create and preserve 15,000 affordable; and the award-winning New York City Acquisition Fund, a unique financing vehicle that will provide new access to capital for the affordable housing industry.

Enterprise looks forward to continuing to work with Shaun in his new role as HUD secretary and is excited to have this talented and committed public servant at HUD during these difficult times.

For more information, please contact Tina McDaniel at 410-772-2780 (office) or 443-472-1479 (cell).

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has pioneered neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested $9 billion in equity, grants and loans to help build or preserve 240,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise’s efforts to build communities and opportunity, and to meet some of the half a million people we have helped.

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HUD

U.S. Department of Housing and Urban Development (HUD) is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation’s fair housing laws.

Contact:

Brian Sullivan
(202) 708-0685

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