Falls Church Housing Corporation (FCHC): A Year of Positive Transition and Growth
2013 WAS A NOTEWORTHY YEAR of sustaining accomplishments in FCHC’s history. This annual report highlights the ways we have moved forward in that mission with your help. Transition in Leadership The year was off to a great start with the appointment of Jaymar Joseph as FCHC’s new Executive Director, who has been warmly welcomed by the FCHC family. With more than 15 years of experience in steering community development projects for local governments, nonprofit corporations, and faith-based organizations, he is the perfect fit for bringing affordable housing to underserved Virginia communities. Our Partnership with the City of Falls Church We remain grateful for the positive and effective relationship we have with the City of Falls Church. The City’s funding through the Community Development Block Grant (CDBG) program and the Community Services Fund are tangible and valued examples of the essential municipal support FCHC receives for the benefit of the residents in the Winter Hill Apartment Community and Virginia Village. Strategic Management and Growth The refinancing of Winter Hill and the sale of the CC South Housing building in 2013 were key to FCHC’s increased cash flow. Combined with ongoing management fee revenues and reduced operating expenses, these strategic steps put FCHC in a good position to reach its 2014 goals. As FCHC grows, we will continue to seek potential acquisitions and partnerships throughout Virginia to extend our mission as broadly as possible. Moving Forward with your Help Our successes could not be achieved without the help of the Financial Partners listed in this report. Please ask your friends and colleagues to support our work so their names can be added to that list.
Richard Burns President, Falls Church Housing Corporation
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