DOCSLIB.ORG

Utah Treasurer David Damschen Resigns from Office to Succeed Utah Housing Corporation President and CEO Grant Whitaker

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Utah Treasurer David Damschen Resigns from Office to Succeed Utah Housing Corporation President and CEO Grant Whitaker Utah Treasurer David Damschen resigns from office to succeed Utah Housing Corporation President and CEO Grant Whitaker Grant Whitaker retires after 42 years at Utah Housing Corporation. David Damschen to assume role of Utah Housing Corporation president and CEO on May 3. SALT LAKE CITY – April 12, 2021 – Utah State Treasurer David Damschen today announced his resignation as state treasurer effective April 30. The Utah Housing Corporation (UHC) Board of Trustees has selected him to succeed Grant Whitaker as president and CEO of UHC, where he will begin his service on May 3. Whitaker is retiring after 42 years with the organization, including 12 years at its helm. UHC was created as a public corporation by state legislation in 1975 to provide affordable financing of single-family homes and apartments for people of low and moderate income. Receiving no taxpayer appropriated money, the organization provides financing and down payment assistance to homebuyers and resources to developers building or renovating affordable apartment projects. “While Utah Housing’s mission has remained unchanged, the activities surrounding that mission have evolved. We have stretched limited resources and identified new means to serve a population that continues to grow,” Whitaker said. “Immediately after I was selected as the president and CEO, America entered into the Great Recession. My team implemented programs and changes that enabled us to not only weather that storm but to build a stronger and more nimble entity that provides Utahns more diverse types of financial assistance.” Under Whitaker’s leadership, UHC has evolved to meet the challenges of a dynamic Utah housing market by providing diverse financing programs. These include homeownership programs like FirstHome, which offers a second mortgage loan for a homebuyer's down payment, and HomeAgain, which was created to help previous homeowners buy another home with down payment assistance. UHC has also been active in the financing of special needs housing, such as permanent supportive housing that provides robust on-site services for people with addictions, psychiatric disabilities and domestic-abuse victims who would otherwise be homeless. “While leaving brings on mixed emotions, I know Utah Housing is in good hands with David and a proven team of professionals,” Whitaker said. Damschen has served as state treasurer for more than five years and served as chief deputy state treasurer for seven years prior to assuming office. “I am grateful for the opportunity I have had to serve as treasurer of our great state. It has been an honor and a privilege to work alongside other state leaders to ensure Utah remains a leader in the nation for its broad fiscal and economic strength, to provide resources to empower Utahns to achieve financial and economic success and to protect individual property rights,” Damschen said. “While I am sad to leave the office, I am equally excited for the opportunity to continue my public service by joining the outstanding team at Utah Housing to help address the critical and growing problem of housing affordability in Utah. That mission is as important now as ever given the state’s affordable housing crisis.” “We are incredibly grateful for Grant’s service to Utah Housing over the last four decades. Under his leadership, the Utah Housing team has developed and implemented innovative programs to address the housing needs of many Utahns who otherwise would not have access to affordable housing opportunities,” UHC Board of Trustees Chair Lerron Little said. “We look forward to working with David, as we usher in a new era and work to alleviate the barriers to affordable housing the current market presents to low and moderate income Utahns.” Gov. Spencer Cox will appoint an acting treasurer who will serve temporarily following Damschen’s departure until a new state treasurer is appointed for the remainder of Damschen’s term, which ends in 2024. The Utah Republican Party's State Central Committee will first nominate three candidates to replace Damschen, and Gov. Cox will then choose one of those nominees as Utah’s next state treasurer. About Grant Whitaker Grant Whitaker has served as president and CEO of UHC since January 2009. Whitaker began his UHC tenure in 1979, acting in various capacities including ranking leadership roles from 1983 to 2009. Whitaker dedicated his career to improving the local and national affordable housing communities by undertaking roles in several capacities. Notably, he served as president of the Board of Directors of the National Council of State Housing Agencies, a national organization created to advance through advocacy and education the nation’s state Housing Finance Agencies’ efforts to provide affordable housing. About David Damschen David Damschen is the 25th treasurer of Utah, appointed to the office in 2015 and re-elected to a four year term in 2016 and 2020. During Damschen’s time in office, he has overseen the prudent investment of pooled public funds that have generated more than $2 billion in stable interest income, expanded the base of investors in Utah’s bonds, returned more than $200 million in unclaimed property to Utah families and businesses, implemented numerous money-saving technologies and streamlined business processes, boosted the transparency and efficiency of the state’s debt and investment management and launched several personal financial education and empowerment initiatives. As state treasurer, Damschen also serves as an ex officio member of 19 boards and commissions. He was the 2019 president of the National Association of State Treasurers. Damschen has extensive experience in institutional investments and treasury operations. Before serving as Utah’s chief deputy state treasurer, he spent most of his nearly 20 years in the private sector in the institutional trust and custody, treasury management and retail divisions of a national banking organization. Media Contact: Brittany Griffin, PIO Utah Office of State Treasurer (801) 918-1411 [email protected] ### .
Load more

Recommended publications
  • May 29, 2019 by First Class Mail and Email (Taina.Edlund@Irscounsel
    May 29, 2019 President David Damschen, UT Executive Committee By First Class Mail and Email ([email protected]) Duane Davidson, WA Michael Frerichs, IL Deborah Goldberg, MA Seth Magaziner, RI Catherine Hughes Steve McCoy, GA Vicki Judson Kelly MItchell, IN Beth Pearce, VT Janine Cook Tobias Read, OR Taina Edlund Department of the Treasury Executive Director Internal Revenue Service Shaun Snyder 1111 Constitution Avenue NW 701 Eighth Street, NW Room 4300 Suite 540 Washington, DC 20224 Washington, DC 20001 (202) 347-3865 Re: Proposed Regulation Comments for Section 529A ((CC:PA:LPD:PR (REG-102837- www.NAST.org 15)) To the Internal Revenue Service: The National Association of State Treasurer’s (NAST) ABLE Committee appreciates this opportunity to comment on the proposed regulations under Section 529A of the Internal Revenue Code that provide guidance regarding the Achieving a Better Life Experience (ABLE) Act of 2014 (the “Proposed Regulations”). We realize that the initial comment period ended on September 21, 2015; however, we understand that comments are still being accepted. With several years of collective administration of ABLE programs, states have now gained operational experience that has in turn provided insight into how the Proposed Regulations can be improved. The Problem Despite 41 states and the District of Columbia offering ABLE programs, the rate of ABLE account openings has been slow industry wide. While there are many causes for this, we believe part of the problem is that not all potential ABLE account owners have a parent, guardian, or power of attorney who can or who is willing to serve as an “authorized legal representative” and assist them in opening and maintaining an account.
    [Show full text]
  • Utah Capital Investment Corporation September 2016 Updates 2 Utah Capital Helps Attract Private Investments to Create Jobs $125 Billion Invested Annually in U.S
    Utah Capital Investment Corporation September 2016 Updates 2 Utah Capital Helps Attract Private Investments to Create Jobs $125 billion invested annually in U.S. companies by venture capital and private equity managers Less than 1% received by Utah companies Venture Capital-backed Venture Capital-backed companies outperform on companies account for revenue growth and 11% of U.S. employment. employment growth – IHS Global Insight “Venture Impact” 6th Edition – IHS Global Insight “Venture Impact” 6th Edition Utah Capital’s activities increase investments in Utah, which lead to job creation Sources: Investment numbers from ThomsonOne using averages of deal values reported from January 1, 2008 through December 31, 2013. Other sources used include IHS Global Insight and National Venture Capital Association, “Venture Impact: The Economic Importance of Venture Capital-Backed Companies to the U.S. Economy” 3 Other State Programs * 29 states with known programs Programs with Recent Initiatives: Illinois – Growth & Innovation Fund (2011) – $220 m (state investment portfolio) – announced January 2016 Tax Credit- backed Connecticut – $145 million fund of funds Programs program (part of retirement system) – States that failed announced May 2015 to get a program off the ground Wisconsin – State committed $25 m to Badger States with a Fund of Funds – legislation passed 2013 Program Tax Credit-backed Programs: Colorado – High Country Venture – two funds ($20-$25 m) – tax credits sold to insurance companies Other Programs: Iowa – Iowa Fund of Funds (2002)
    [Show full text]
  • 2019 UHC Compliance Manual
    Housing Credit Compliance Manual 1 Revised August 2019 Table of Contents Introduction ........................................................................................................................................ 7 Foreword ............................................................................................................................................. 7 Background .......................................................................................................................................... 7 1. Program Fundamentals .................................................................................................................... 9 Project Lifecycle .............................................................................................................................................. 9 Before Credit Period ........................................................................................................................................ 9 Eligible Basis ................................................................................................................................................... 9 Claiming Credits .............................................................................................................................................. 9 LURA ............................................................................................................................................................. 10 Credit Period ................................................................................................................................................
    [Show full text]
  • Role of State Treasurers Expanded During the Great Recession by Lisa S
    TREASURERS Role of State Treasurers Expanded During the Great Recession By Lisa S. Cleveland The nation’s state treasurers provide a wide range of financial management services to their constituents. They work to safeguard the financial interests of citizens through the professional management of college savings plans, unclaimed property programs and professional debt management efforts. Many are also actively involved in financial literacy efforts and they regularly offer their input and expertise on financial efforts at the federal level that have the potential to impact state treasuries. Public finance officials “are accustomed to the nonprofit, nonpartisan National Association of working in the trenches,” said Utah State Treasurer State Treasurers, also known as NAST. Richard Ellis, 2014 president of the National Asso - Ellis has said one of his goals for 2014 is to con - ciation of State Treasurers. tinue to raise the profile of NAST and the concerns What he means is that state treasurers are often of state treasurers in Washington, D.C. Treasurers intimately involved in the day-to-day development are actively involved in a myriad of issues at the of their state’s public finance decisions. They handle federal level, including: a wide variety of issues, dealing with everything from pension plans and debt management to the Tax Reform and Its Effect on States investment of public funds and the administration For the past 18 months, the nation’s treasurers have of college savings plans. In many states, treasurers been monitoring congressional discussions about also provide an important consumer protection tax reform and have expressed their concerns function through the administration of unclaimed about proposed federal legislation that would property programs.
    [Show full text]
  • Tuesday, February 14, 2017 Senator Mitch Mcconnell Senate Majority
    Tuesday, February 14, 2017 Senator Mitch McConnell Senate Majority Leader 317 Russell Senate Office Building Washington, DC 20510 Senator McConnell, Nearly 55 million workers across the country lack access to employer-sponsored retirement plans, and millions more fail to take full advantage of employer-supported plans. Without access to easy and affordable retirement savings options, far too many workers are on track to retire into poverty where they will depend on Social Security, state, and federal benefit programs for their most basic retirement needs. States across the country have been innovating to address this problem. We are writing to respectfully urge you to protect the rights of states and large municipalities to implement their own, unique approaches. Last week, two resolutions of disapproval (H.J. Res 66, H.J. Res 67) were introduced to repeal key Department of Labor (US DOL) rules. If passed, these resolutions would make it more difficult for states and municipalities to seek solutions to the growing retirement savings crisis. We ask that you support the role of states as policy innovators by voting “No” on H.J. Res 66 and H.J. Res 67. Thirty states and municipalities are in the process of implementing or exploring the establishment of state-facilitated, private-sector retirement programs. Eight states have passed legislation to allow individuals to save their own earnings for retirement (no employer funds are involved as these are not defined benefit plans). While most state and municipal plans will be governed by independent boards, the day-to-day investment management and recordkeeping would not be conducted by the state, but rather by private sector firms - the same financial institutions that currently provide retirement savings products.
    [Show full text]
  • Table 4.24 the TREASURERS, 2017
    TREASURERS Table 4.24 THE TREASURERS, 2017 Length of Date of Present Maximum consecutive State or other Method of regular term first term terms allowed jurisdiction Name and party selection in years service ends by constitution Alabama .................... Young Boozer (R) E 4 1/2011 1/2019 2 Alaska ........................ Pamela Leary A Governor’s Discretion 1/2014 . Arizona ...................... Jeff DeWit (R) E 4 1/2015 1/2019 2 Arkansas .................... Dennis Milligan (R) A 4 1/2015 1/2019 2 California .................. John Chiang (D) E 4 1/2015 1/2019 2 Colorado .................... Walker Stapleton (R) E 4 1/2011 1/2019 2 Connecticut ............... Denise L. Nappier (D) E 4 1/1995 1/2019 ★ Delaware ................... Ken Simpler (R) E 4 1/2015 1/2019 ★ Florida (a) ................. Jeff Atwater (R) E 4 1/2011 1/2019 2 Georgia ...................... Steve McCoy A Pleasure of the Board 11/2011 . Hawaii (b) ................. Wesley Machida (D) A Governor’s Discretion 3/2015 . Idaho .......................... Ron G. Crane (R) E 4 1/1999 1/2019 ★ Illinois ........................ Mike Frerichs (D) E 4 1/2015 1/2019 ★ Indiana ....................... Kelly Mitchell (R) E 4 1/2015 1/2019 (d)(c) Iowa ........................... Michael L. Fitzgerald (D) E 4 1/1983 1/2019 ★ Kansas ....................... Jacob LaTurner (R) E 4 4/2017 1/2019 ★ Kentucky ................... Alison Ball (R) E 4 1/2016 12/2019 2 Louisiana ................... Ron Henson (R) E 4 1/2017 (e) (e) ★ Maine ......................... Terry Hayes (I) L 2 1/2015 1/2019 4 Maryland ................... Nancy K. Kopp (D) L 4 2/2002 1/2019 ★ Massachusetts ........... Deb Goldberg (D) E 4 1/2015 1/2019 ★ Michigan ...................
    [Show full text]
  • Single Family Mortgage Bonds 2019 Series a (Federally Taxable)
    NEW ISSUE – Book-Entry-Only Rating: Moody’s “Aa2” See “RATING” herein The interest on the 2019 Series A Bonds is included in gross income for federal income tax purposes. In the opinion of Gilmore & Bell, P.C., Bond Counsel to UHC, under existing law, the interest on the 2019 Series A Bonds is exempt from Utah individual income taxes. See “TAX MATTERS” herein. $162,505,000 UTAH HOUSING CORPORATION Single Family Mortgage Bonds 2019 Series A (Federally Taxable) Interest from: Date of Delivery Due: see inside front cover The Utah Housing Corporation Single Family Mortgage Bonds, 2019 Series A (Federally Taxable) (the “2019 Series A Bonds”) are being issued under and pursuant to a General Indenture of Trust, dated as of October 1, 2019, between Utah Housing Corporation (“UHC”) and Zions Bancorporation, National Association, as trustee (the “Trustee”), and a 2019 Series A Indenture, dated as of October 1, 2019, between UHC and the Trustee. The 2019 Series A Bonds are issuable only as fully registered bonds without coupons and will be registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”), New York, New York. DTC will act as securities depository for the 2019 Series A Bonds. Individual purchases will be made in book-entry form only in the principal amount of $5,000 and integral multiples thereof. Purchasers will not receive certificates representing their interest in 2019 Series A Bonds. Interest on the 2019 Series A Bonds is payable semiannually on January 1 and July 1 of each year, commencing July 1, 2020.
    [Show full text]
  • 2018 NAST Treasury Management Training Symposium
    2018 NAST Treasury Management Training Symposium June 5-8 | Buena Vista Palace | Lake Buena Vista, FL A decade ago, we set out to provide innovative analytic services that help state governments increase financial compliance and benefit their citizens. Today we find, save, or recover over half a billion dollars each year for dozens of government agencies and their citizens. www.verusfinancial.com | 1.855.NCLAIMU (855.625.2468) | general@verusfinancial.com A MESSAGE FROM NAST’S PRESIDENT I am pleased to welcome you to the 2018 National Association of State Treasurers (NAST) Treasury Management Training Symposium. For over 40 years NAST has provided advocacy, support and educational opportunities for State Treasurers, their staff, and members in non-treasury agencies that complete our affiliate networks. As an association of finance officers, we strive to advance the development and administration of sound fiscal policies, prudent management of state resources, and the ongoing support of financial wellness programs in our respective states. As our country faces a number of fiscal challenges such as aging infrastructure, rising levels of student debt, and a lack of retirement readiness and financial security, the Treasury Management Training Symposium provides a unique opportunity for our members and stakeholders to collaborate and learn from one another in solving these pressing issues. This year’s symposium offers training sessions on core functions and programs such as investing, managing pensions, overseeing state debt, the administration of unclaimed property, as well as outreach initiatives, such as administering ABLE plans, promoting financial literacy, and improving the affordability of post-secondary education. I would like to thank the entire NAST leadership team for their hard work and continued efforts to improve the organization and serve our membership.
    [Show full text]
  • Joseph M. Torsella, Pennsylvania State Treasurer, Et
    TREASURY DEPARTMENT COMMONWEALTH OF PENNSYLVANIA HARRISBURG, PA 17120 March 8, 2018 .JOSEPH M. TORSELLA TREASURER Via Electronic Submission Chaitman Jay Clayton U.S. Securities and Exchange Commission 100 First Street NE Washington, D.C. 20210 RE: Public Comments from Retail Investors and Other Interested Parties on Standards of Conduct for Investment Advisers and Broker-Dealers Dear Chairman Clayton: Thank you for your request for public input regarding the Securities and Exchange Commission's (SEC) reassessment of the current regulatory framework governing retail investments. 1 As a bipartisan coalition of State Treasurers from across the country, we recognize the many financial perils facing individual investors, and endorsed the Department of Labor's Fiduciary Rule as a critical protection. We urge the SEC to develop a regulatory framework that will ensure that all financial professionals who offer advice on investments must hold their clients' interests first. We come from a diverse coalition of states and perspectives, yet we share a common underlying belief: individual investors must be protected. As the chief financial officers and the voice of financial leadership in our states, treasurers want people to save in the manner most appropriate for them, and we want those professionals that facilitate saving and investing to be fairly compensated for their sound advice. As this letter will present, the Fiduciary Rule has already improved the retirement savings market, but these improvements are threatened by the DOL' s partial delay of the Fiduciary Rule and could be undermined or undone by a weakened securities regulation by the SEC. Interest of State Treasurers As State Treasurers, we are on the front lines of the retirement crisis, and many of us are exploring policies and programs to encourage early retirement savings in an eff01t to help individuals achieve basic retirement security.
    [Show full text]
  • Private Activity Bond Authority Board Meeting
    PRIVATE ACTIVITY BOND AUTHORITY BOARD MEETING Department of Workforce Services Housing & Community Development 1385 South State Street, Suite 400 Salt Lake City, Utah MINUTES – Pending approval and are subject to change Wednesday, October 10, 2018 Members Present Representing John T. Crandall (Chairman) Governor’s Office of Economic Development Grant S. Whitaker Utah Housing Corporation David Damschen State Treasurer Ricky Hatch Weber County Wally Ritchie City of Ivins Chip Dawson South Jordan City Wayne Cushing Salt Lake County Bryan E. Thompson Utah County Excused Members Ginger Chinn Governor’s Office of Economic Development David A. Feitz Utah State Board of Regents Staff and Visitors Jess Peterson Community Development Office Keith Heaton Community Development Office John Brereton Affordable Housing Advisors Debbie Kurzban Attorney General’s Office Kevin Peterson America West Amy Rowland CDFA Mark Cornelius Cowboy Partners Troy Hart Housing Authority County of Salt Lake Adam Paul JF Capital Clay Hardman Gilmore & Bell Blake Wade Gilmore & Bell Chris Parker GIV Matt Schwartz Domain Jay Minnick Triago Mark Cornelius Cowboy Corey Johnson Wasatch Soren Simonssen Broadway-Heritage Village Patrick Szymanski DWS WELCOME AND INTRODUCTIONS The Private Activity Bond Authority (PAB) Board Meeting was held in Salt Lake City, Utah, at the Housing & Community Development’s Offices and called to order at 9:00 a.m., by John T. Crandall, Chairman. APPROVAL OF MINUTES Chair Crandall requested a motion to approve the minutes from the July 11, 2018 Private Activity Bond Authority Board Meeting. Suggested changes were sent to Jess and those changes were made before the minutes were sent out. Grant Whitaker moved and Wayne Cushing seconded a motion to approve the minutes from the July 11, 2018 Private Activity Bond Authority Board Meetings.
    [Show full text]
  • Where We Advocate Who We Are What We Do
    Who We Are The National Association of State Treasurers (NAST) serves as the nation’s foremost authority on state finance issues and State Treasury programs, practices, and policies. NAST’s membership comprises all State Treasurers or state finance officials with comparable responsibilities from the United States, its commonwealths, territories, and the District of Columbia, along with employees of these agencies. What We Do NAST serves its members through educational conferences and webinars, a variety of working groups, policy advocacy, and publications that provide information about developments in public finance. Together, we enable State Treasurers and officials who perform state treasury functions to pursue and administer sound financial practices and programs benefiting the citizens of the nation. Where We Advocate NAST offers nationwide expertise and advocates on a number of issues relating to state finance, including: 529 College Savings Programs Pension and Trust Administration Achieving a Better Life Experience Local Government Investment Pools (ABLE) Plans (LGIPs) Administration of State Unclaimed Issuance of Tax-Exempt Municipal Property Programs Bonds and State Debt Management Financial Education and State Banking, Investment, and Empowerment Cash Management Protecting State Infrastructure Financing Tools Support tax-exempt municipal bonds For more than 100 years, tax-exempt bonds have been the primary financing tool for critical state and local infrastructure projects like the roads, bridges, rails and pipes we use every day. In fact, the savings generated by the tax exemption help state and local governments finance the lion’s share of the nation’s infrastructure network that they build and maintain. NAST Calls on Congress to: State and local governments issued $4.1 trillion in Reject proposals to eliminate or reduce the municipal bonds for infrastructure in the past decade tax-exemption on municipal bonds.
    [Show full text]
  • Read the 2020 Utah Statewide Voter Information Pamphlet
    GENERAL ELECTION TUESDAY, NOVEMBER 3, 2020 POLLS ARE OPEN FROM 7:00 A.M. TO 8:00 P.M. ON ELECTION DAY BALLOTS BEGIN BEING MAILED OCTOBER 13 UTAH’S OFFICIAL VOTER INFORMATION PAMPHLET Note: This electronic version of the voter information pamphlet contains general voting information for all Utah voters. To view voting information that is specific to you, visit vote.utah.gov, enter your address, and click on “Sample Ballot, Profiles, Issues.” For audio and braille versions of the voter information pamphlet, please visit blindlibrary.utah.gov. VOTE.UTAH.GOV A message from the Elections Office Utah Voter, Welcome to Utah’s 2020 General Election Voter Information Pamphlet. We designed this pamphlet to provide voters accross our state with important information that will help them navigate the upcoming election. Each of our elections is unique, and this one is no different. Voters across the state will embark on making decisions that will guide the government that they have for years to come. Throughout this pamphlet you will find information on the candidates that will represent you federally, in statewide office, in the state senate and state house, and on the state board of education. You will be able to read about the seven Constitutional Amendments that will appear on your ballot as well as judicial retention elections. In this pamphlet you will also find information aimed at helping you with the voting process like voter registration, voting methods, and communicating with your county clerk’s office. If you have questions about this information or the voting process, there is contact information for your local elections officials on page 129.
    [Show full text]