Vernon Lawrence

Vernon Lawrence Executive Director/CEO/QPA Chief Financial Officer

 

As we enter into 2017, there are reasons for concerns dues to the continued federal
budget cuts, sequestration, and future proposed cuts to our budgets.

Fiscal restraint, budget cuts for economy and efficiency, my constant pursue of new
and creative funding sources, policy changes and the effective management of assets
during the last seven years has helped and will continue to lessen the impact of federal
domestic cuts. Also, new and innovative demonstration programs and regulation
streamlining offered by HUD can assist.

For our Fiscal Year ending March 31, 2016 the PVHA again received a High-Performing
score under the new interim PHAS rule.

In March of 2015 the PVHA received conditional Rental Assistance Demonstration (RAD)
approval! RAD provides the opportunity to test the conversion of public housing and
other HUD-assisted properties to long-term, project-based Section 8 rental assistance to
achieve certain goals, including the preservation and improvement of these properties
through enabling access by PHAs and owners to private debt and equity to address
immediate and long-term capital needs. RAD is also designed to test the extent to
which residents have increased housing choices after the conversion, and the overall
impact on the subject properties. We will close on RAD January 2017!

This year we will be commence the development and expansion of our Senior and
Disabled Campus by constructing a new building that will also provide assisted living in
some of the units and rental commercial space on the first level. The project will assist
the PVHA in its continued pursue to diversifying our portfolio and create new funding
sources for the long term viability of the PVHA.

I personally thank the PVHA Board of Commissioners, the dedicated PVHA staff, the City
of Pleasantville and the diligent consultants/advisors and partners for their
overwhelming support in making these opportunities a reality.

During 2017 I will continue capitalize on a number of financial and enterprise
opportunities for the PVHA and continue the vision for the long term economic health of
the Authority, its residents and the City of Pleasantville.