Housing Development Center Inc.

“Hdc executive or finance committee review and approves the 990 prior to its submission to the irs. A copy of the 990 is provided to all board members.”

“Hdc has a written conflict of interest policy, and each board member completes a conflict of interest questionnaire annually. Board member conflicts as they relate to board actions are recorded in meeting minutes”

“Hdc exectutive committee review and sets the executive director's compensation. No persons with a conflict of interst are involved. The committee incorporates comparable compensation for the corresponding position at similar organizations in the area into its decision making process.”

“Staff salaries are set as part of the annual budget process, which is the responsibility of the finance committee. The committee incorporates comparable compensation for correponding positions at similar organization in the area into its decision making process.”

“Hdc makes the organizatiion's governing documents, conflict of interest policy and financial statements available to the public at its offices upon request.”

“Other program services 4: hdc community fund. Llc hdc's wholly owned subsidiary, hdc community fund, llc (hdc community fund), was formed in august 2009. A certified community development financial institution (cdfi), hdc community fund provides loans to support the development and preservation of affordable housing and community facilities serving people with lower incomes. Hdc community fund's flexible, low-interest loans address needs that conventional lending programs don't. The loans target early project costs, such as feasibility assessment, land acquisition, and predevelopment, and they bridge short-term gaps in construction financing. Totaling $9.98 million to date, hdc community fund loans have supported the creation or preservation of 1,663 units of affordable housing and 57,085 square feet of service-facility space.”