The Wilmington Housing Authority has chosen their new CEO following a meeting Monday morning.
After months of interviews, the Wilmington Housing Authority Board has approved of a contract for a new CEO. The board approved the motion to sign the contract Monday morning.
Six members of the board approved of the motion. One member abstained.
According to the Chairman of the Wilmington Housing Authority Board, Jeff Hovis, the new CEO will be Katrina Redmon, a member of the executive management team of the Housing Authority of the City of Winston-Salem.
According to a release from the WHA, Redmon has served as the Chief Financial Officer, Deputy Director, and most recently the President/Chief Development Officer of the Winston-Salem authority. It states that she is a certified public accountant, real estate broker, and certified housing development finance professional.
Hovis said one of the main reasons Redmon was chosen was because she has an extensive background in private industry as well as the public sector.
"This CEO understands that in addition to bringing everything we have, making it the best it can be, finding alternatives to traditional public housing and tax credit. She understands that we have to go in that direction to add affordable housing throughout the community," said Hovis.
The release states that Redmon was able to double the revenue of a privately-held company from $20 million to over $45 million. It also states she was named Corporate Professional of the Year in 2012 by the Piedmont Triad Apartment Association.
Hovis said the WHA's latest goal is to find affordable alternative housing. He said Redmon is poised to help the organization achieve this goal.
"She understands that we have to go in that direction to add affordable housing throughout the community, and that type of affordable housing can't be dependent on HUD (Housing and Urban Development) and subsidies. It has to be something we can generate as an agency, and that's where her expertise was something that drew us to her as a final selection," Hovis explained.
According to the WHA release, Redmon will receive an annual salary of $167,000. Her contract runs for 3 years.
Hovis expects Redmon to begin working August 4, 2014.
Events leading to new CEO
The board terminated former housing authority CEO Michael Krause after he received his second DWI in September.
Hundreds of applications were received and board members had to narrow their top picks down from nearly 90 candidates.
The board even asked for resident input during this selection process for a CEO back in April. People were asked to submit candidate questions.
After candidates were narrowed down to the final 5, the board did extensive background checks(employment, criminal, DMV and credit). That took about 6 weeks to obtain all the information needed. There were a number of interviews with the final few candidates.
"This has been a very hands on process and it has taken longer than the board expected, but the Housing Authority has to move in a different direction. In addition to improving all its existing communities and services, WHA has to find ways to generate private funds to increase the availability of affordable housing. WHA has to work to generate new housing opportunities for our area. We cannot depend on subsidies and need to look to non-conventional ways to assist our area," said Board Chairman Jeff Hovis.
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