Celebrating 40 Years40 of Affordable Housing

Wyoming Community Development Authority 2014 - 2015 Annual Report Thank you for your commitment and years of service

20 - 30 Years of Service

Pat Crawford ~ 30 Years George Axlund ~ 30 Years* Cheryl Gillum ~ 28 Years John Van Nes ~ 25 Years* Gayle Andress ~ 23 Years Gayle Brownlee ~ 23 Years Ronda McCarthy ~ 22 Years* Brenda Rice ~ 20 Years* Nancy Jolley ~ 20 Years

*Retired from WCDA A native of Douglas, Wyoming, Dan Sullivan’s roots run deep in the Wyoming political landscape. Following a successful banking career in Denver, Sullivan returned to Wyoming to serve as the first Executive Director of the Wyoming Community Development Authority in 1975. Dan served on the WCDA Board from 2006 - 2014 as a Board Member, Secretary, and Board Chairman. He was elected to the Wyoming State Senate in 1984 and re-elected in 1988, serving as Chairman of the Senate Revenue Committee. In 1990, he established his Government Relations and Consulting firm in Casper.

Dan is a proven strategist in public affairs and political campaigns at the local, state and national level. He represents Fortune 500 companies in government relations before the state of Wyoming and is a known commodity when it comes to advocacy for his clients.

Known for his quick wit, Dan cuts to the heart of an issue and is respected for his opinion by colleagues, elected officials and members of government.

Besides building a winning government relations firm, Dan is recognized as a public speaker and professional auctioneer. His familiar auctioneer’s chant has raised millions of dollars for charities.

Dan is a graduate of the University of Wyoming and is an Outstanding Alumni of the Arts and Science College. He and his wife Sue have two grown children and two granddaughters. 2014 WCDA Annual Report 2 Table of 2014 Board of Directors Professional Contents Associates

Chairman’s & Director’s Letter 3 Managing Underwriters WCDA Staff 4 Bank of America - Merrill Lynch WCDA Lenders 4 Kaiser & Company WCDA Achievements 5 Royal Bank of Canada (RBC) Trustee 2014 Wells Fargo - Trust Management December Auditor Porter Muirhead Cornia & 2015 Howard January February Bond Counsel March Kutak Rock April May Local Counsel June Murane & Bostwick July Underwriter’s Counsel August Chapman & Cutler September October Financial Consultants November cfX December Judy Lane, Executive Director David Haney, Rob Boner, State Treasurer Representative DerivActiv/Blue Rose Sharon Garland, Chairman Pat Hand, Kristin Lee, Vice Chairman Lesli Wright, George Parks, Governor Representative Merit Thomas, Secretary Kari Cooper Computer Consultants Audited Financial Emphasys/AOD www.wyomingcda.com Not Pictured: Governor Matt Mead & State Treasurer Mark Gordon Computer Associates Wyoming Community Demographic & Development Authority Economic Consultant Western Economic Services 155 N. Beech St. Casper, WY 82601

Main Phone: (307) 265-0603 Main Fax: (307) 266-5414 Loan Servicing Phone: (307) 265-5102 Loan Servicing Fax: (307) 265-0306 Celebrating 40 Years40 of Affordable Housing Chairman’s & Director’s Letter

To: The Honorable Matthew Mead Governor, State of Wyoming

Members of the Wyoming Legislature

We are pleased to present to you the In late 2009, federal relief was provided to the operating budgets. Those plans were then Annual Report for the Wyoming Community housing fi nance industry based upon the reality amalgamated into an annual program plan for Development Authority (WCDA) in the form of an that the HFA’s underwrote their mortgages the year 2014 – 2015 and approved by the Board annual calendar. Consistent with our approach in a more conservative fashion and were of Directors in June of 2014. from last year, and in an attempt to provide more experiencing much better performance than the electronic communication, our annual audited overall housing market despite their attention Delinquency continues to be troublesome, but fi nancial statements for the period ending June being focused on low down payment fi rst-time at levels far below what exists elsewhere in the 30, 2014 are on our web site - www.wyomingcda. homeownership. Justifi cation for the support was country. There continues to be a gap between com. This allows those who have an interest in the belief that until the fi rst time homeowner tier wages and the cost of maintaining one’s our fi nancial performance to see the signifi cant was stabilized, it would be very diffi cult to stabilize household, however, affordability is at one of its details. By utilizing our web site, you can also see the remainder of the market. all time highs. Because of the relative stability of a complete list of the many programs for housing our natural resource-based economy, we expect that we provide throughout the State including By utilizing the HOME Investment Partnerships to see continued improvement and be able to our demographic studies (Profi le/Blue Book). Program and the Low Income Housing Tax avoid the 1980’s boom and bust cycle. Credits, funding was approved during calendar In the last year, we again demonstrated both year 2014 for an additional 154 new units of The efforts of an engaged and active Board of fi nancial integrity and creativity by surviving the affordable rental housing. The combined Directors, strong management, and a terrifi c largest housing downturn in the country’s history investment in those programs represented more professional team, have positioned the WCDA for since the Great Depression. We’ve continued to than $27 million invested in housing throughout the future. Despite the challenges, performance meet our mission of providing affordable housing Wyoming. continues to be solid. We have been able to to the State of Wyoming while maintaining maintain the fi nancial integrity of the Authority profi tability during a period of signifi cantly The Neighborhood Stabilization Program (NSP) while continuing to meet the mission originally reduced resources. also allowed WCDA to purchase foreclosed or envisioned by the Legislature. abandoned homes, rehabilitate those houses, In the past year, we purchased 584 loans and and resell them to fi rst-time homebuyers. invested $90 million in new, fi rst time homebuyer Through fi scal year 2014, we have acquired and loans. The average loan amount was $154,476, rehabilitated 126 foreclosed homes expending while the average income of those borrowers almost $30 MM. Pat Hand, Board Chair was $51,774. The average age of our fi rst-time homebuyer was 31 years old and only 39 percent Thanks to the implementation of a quality of our borrowers were married. This continues strategic planning process over the last six years, to be indicative of the changing demographics strategies were formulated to identify and of Wyoming’s population, particularly within manage areas of risk within the institution while our market niche. Additionally, the homebuyer ensuring the accomplishment of its mission and David M. Haney, Executive Director education required by WCDA (883 households) still maintain its fi nancial integrity. Each line of and others in the industry have made a signifi cant business has also completed its own strategic difference for our borrowers as they better plan, thereby establishing larger goals for understand the responsibilities of homeownership. departments and then translating those goals into customer value statements and more practical 2014 WCDA Annual Report 3 2014 WCDA Annual Report 4 WCDA Staff

Executive Team Administration & Finance Federal Programs Loan Servicing Single Family David Haney, Shannon Hillibush, Nancy Jolley, Daren Cook, Paula Travers, Edie Phillips, Matt Swanson, Gayle Andress, Rebel McAtee, Tom Price, Connie Stinson, Tara Smith, Cheryl Gillum Scott Hoversland, Pat Crawford, Gayle Brownlee, Marla Genetti, Linda Bentz, Liz Wolz, Keith Vlastos, Christina Pelton, Candice Ohnstad, Valeria Johnson, Carole Linton, Judy Koski Stacey Tichy, Rob Schauss, Becky Hinton, Orson Badger, Jessica Howard, James Cochran, Mary Knoll Chris Roberts, Connie Williams Rick Juday, Linda Jordan, Not pictured: Stacy Howard Gina Hayden, Wendy Kindel Participating Lenders

Afton Security First Bank Green River Moorcroft Sheridan 1st Bank Wallick & Volk Wells Fargo Home Mortgage, Inc. Pinnacle Bank of Wyoming, Inc. First Federal Savings Bank Alpine Wells Fargo Home Mortgage, Inc. Guernsey Mountain View First Interstate Bank 1st Bank Wyoming Bank & Trust First State Bank of Guernsey 1st Bank First Northern Bank of Wyoming Universal American Mortgage Cody Jackson Newcastle Premier Home Mortgage Basin First Bank of Wyoming First Interstate Bank Pinnacle Bank of Wyoming, Inc. Security State Bank Wells Fargo Home Mortgage, Inc. Security State Bank Pinnacle Bank of Wyoming, Inc. Kemmerer Pinedale Buffalo Wells Fargo Home Mortgage, Inc. 1st Bank 1st Bank Thermopolis Central Bank & Trust First Northern Bank of Wyoming Evanston Lander Wells Fargo Home Mortgage, Inc. Pinnacle Bank of Wyoming, Inc. First Interstate Bank 1st Bank Central Bank & Trust Powell Torrington Casper Wells Fargo Home Mortgage, Inc. First Interstate Bank First Bank of Wyoming First State Bank of Torrington First Interstate Bank Gillette Wells Fargo Home Mortgage, Inc. Pinnacle Bank of Wyoming, Inc. Pinnacle Bank of Wyoming, Inc. Hilltop National Bank First Interstate Bank Laramie Wells Fargo Home Mortgage, Inc. Wheatland Jonah Bank First Northern Bank of Wyoming First Interstate Bank Riverton First State Bank of Wheatland Wallick & Volk First National Bank of Gillette Security First Bank Central Bank & Trust Wells Fargo Home Mortgage, Inc. Pinnacle Bank of Wyoming, Inc. Wells Fargo Home Mortgage, Inc. First Interstate Bank Worland Premier Home Mortgage Pinnacle Bank of Wyoming, Inc. Cheyenne Lovell Wells Fargo Home Mortgage, Inc. Security State Bank Centennial Lending First Bank of Wyoming Rock Springs Wells Fargo Home Mortgage, Inc. Central Bank & Trust Lyman 1st Bank Cheyenne State Bank Wells Fargo Home Mortgage, Inc. RSNB Bank First Interstate Bank Wells Fargo Home Mortgage, Inc. Jonah Bank Pinnacle Bank of Wyoming, Inc. WCDA Achievements 2013/2014 2013/2014 Cumulative Cumulative Cumulative The following statistics are as of Program No. of Loans Amount Households Communities Amount December 2013: Single Family Mortgage 506 $77,276,671 50,648 160 $3,865,528,975 Low-Income Housing Spruce Up Wyoming I 18 $2,735,377 338 42 $40,489,401 Tax Credits Cumulative Units 4,156 Spruce Up Wyoming II 3 $471,025 155 30 $17,676,337 Cumulative Communities 22 Down Payment Assistance Loans 246 $1,196,838 15,972 133 $56,110,295 Cumulative Amount $293,512,943.30 Wyoming Energy Savers Program 0 $0 58 17 $334,094 HOME Program Spirit! of Wyoming Program 57 $9,730,642 355 36 $58,518,608 Cumulative Units 1,348 HFA Preferred 163 $25,553,419 248 26 $39,339,503 Cumulative Communities 32 Cumulative Amount $69,179,082.72 Habitat for Humanity 5 $513,675 84 12 $7,600,210 WRAP Program Total Dollars No. of Avg. Loan Avg. Income Avg. Age of Percentage Cumulative Units 81 County Loaned Loans Amount of Borrower Borrower Married Cumulative Communities 5 Albany $1,983,673 13 $152,590 $43,549 31 52% Cumulative Amount $15,885,338.77 Big Horn $2,246,728 22 $111,215 $54,155 33 58% Homebuyer Education Campbell $14,193,319 86 $165,039 $60,768 30 37% 2013/2014 No. of Students 883 Carbon $1,854,659 12 $154,555 $50,405 28 26% Cumulative No. of Students 19,442 Converse $640,887 5 $128,177 $45,873 33 33% Crook $533,832 4 $133,458 $52,787 26 57% Fremont $3,106,882 22 $141,222 $47,539 35 56% Goshen $847,396 6 $141,233 $60,739 33 43% Hot Springs $142,755 1 $142,755 $42,000 34 66% Johnson $812,172 5 $162,434 $51,136 32 83% Laramie $25,852,577 169 $152,974 $52,194 31 40% Lincoln $876,676 6 $146,446 $53,928 37 60% Natrona $20,425,300 126 $162,106 $49,711 31 33% Niobrara $56,122 1 $56,122 $42,768 24 0% Park $3,375,559 22 $153,436 $48,204 30 52% Platte $734,926 5 $146,985 $53,939 43 0% Sheridan $9,625,322 57 $168,865 $46,794 31 31% Sublette $117,346 1 $117,346 $88,041 46 100% Sweetwater $535,899 3 $178,633 $66,965 29 20% Teton $36,630 1 $36,630 $17,985 41 0% Uinta $517,964 3 $172,655 $57,127 29 50% Washakie $920,352 9 $102,261 $42,528 33 40% Weston $576,739 5 $115,348 $45,675 26 50% 2014 WCDA Annual Report 5 $90,213,715 584 $154,476 $51,774 31 39% 1975

In 1973, WCDA was conceived by a select committee of the Wyoming Legislature to finance both housing and a broad range of community and economic development projects, using “moral obligation” bonds and a pledge of mineral severance tax earnings.

The legislative path to the creation of WCDA was, therefore, fraught with disagreement and conflict. At one point, the agency was declared unconstitutional by the Supreme Court. During a special legislative session, the constitutional wrinkles of the law were ironed out, overcoming representatives’ doubt and confusion about the nature and functions of the agency. Passionately advocated on the Senate floor by state Senator Dick Sedar, a member of the original select committee, WCDA was created as we know it today.

The Wyoming Community Development Authority Act was passed in the 1975 legislative session and in early 1976, WCDA hired its first staff and began determining how this innovative agency would work. December 2014

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*Late Fee Assessment November 2014 First Day of Hanukkah Su M Tu W Th F Sa 1 21 22 23 24 25 26 27 2 3 4 5 6 7 8 9 10 11 12 13 14 15 WCDA Closed Last Day of 16 17 18 19 20 21 22 First Day of Hanukkah 23 24 25 26 27 28 29 Winter Christmas Day Christmas Eve 30 28 29 30 31 1 2 3 January 2015 Su M Tu W Th F Sa **Last Business Day WCDA Closed 1 2 3 New Year’s Eve New Year’s Day 4 5 6 7 8 9 10 11 12 13 14 15 16 17 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. ** Payments received after 4 p.m. are processed the next business day. 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Celebrating 40 Years40 of Affordable Housing George Axlund began his 30 year journey with Wyoming Community Development Authority in 1977 when he was hired as the Authority’s Director of Housing Programs. In 1979, George was appointed as Executive Director and stood at the helm until his retirement in 2007. George was instrumental in the continued growth of the Authority even as Wyoming experienced a major decline in its energy based economy. During the downturn in the economy in the 1980’s, WCDA was fi ghting to retain the property 1977 values by working with the U.S. Department of Housing and Urban Development to fi nance hundreds of FHA foreclosures with special programs like the Red, White and Blue Program .

During his 30 years, the Authority experienced tremendous growth and developed programs that met the need for affordable housing. In addition to the major task of raising capital that would fi nance 43,226 homes for fi rst time homebuyers during his tenure, WCDA also tackled the need for affordable rental housing. WCDA worked with the Cheyenne Housing Authority to implement a Section 8 rental assistance program for the rural areas of the state and developed 75 units of Low Rent Public Housing in Laramie. In the late 1980s, WCDA partnered with the state’s Economic Development and Stabilization Board to develop housing for the homeless and persons with special needs with a set-aside of funding from the state’s Community Development Block Grant Program and in 1986, WCDA began funding apartment units across the state through the federal Low Income Housing Tax Credit Program. In 1992, WCDA took on the HUD HOME Investment Partnerships Program which has been an essential funding source in Wyoming for the fi nancing of both affordable rental and homeownership Programs. WCDA established its own Housing Trust Fund which has provided more than 56 million dollars in down payment and closing cost assistance for Wyoming’s fi rst time homebuyers.

Housing Rehabilitation Programs like the Spruce Up Wyoming Programs and the Community Pride & Revitalization Program have funded rehab for many of Wyoming’s low-income homeowners. More than $7,000,000 in funding has been dedicated to the purchase of Habitat for Humanity Program loans.

While at the Authority, George chaired several committees for the National Council of State Housing Agencies with the most recent being the National Task Force on Disclosure.

Prior to coming to WCDA, George served as Executive Director of the Urban Renewal Agency of the City of Casper. January 2015

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December 2014 Mortgage Interest *Late Fee Statement Mailed Assessment Su M Tu W Th F Sa 1 2 3 4 5 6 18 19 20 21 22 23 24 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 WCDA Closed 28 29 30 31 Equality Day 25 26 27 28 29 30 31 February 2015 Su M Tu W Th F Sa 1 2 3 4 5 6 7 8 9 10 11 12 13 14 **Last Business Day 15 16 17 18 19 20 21 22 23 24 25 26 27 28 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. ** Payments received after 4 p.m. are processed the next business day. Celebrating 40 Years40 of Affordable Housing 1978

When WCDA sold its fi rst bond issue in 1978, actual bonds were printed and distributed to holders. Now the process is electronic; transactions are performed as book entry accounts held by security depositories.

In 1979, prospective homebuyers throughout Wyoming camped outside banks and savings and loans, holding their places in line in order to secure a WCDA loan commitment. February 2015

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Groundhog Day 8 9 10 11 12 13 14

Valentine’s Day 15 16 17 18 19 20 21

January 2015 WCDA Closed *Late Fee President’s Day Assessment Ash Wednesday Su M Tu W Th F Sa 1 2 3 22 23 24 25 26 27 28 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 **Last 25 26 27 28 29 30 31 Business Day 1 2 3 4 5 6 7 March 2015 Su M Tu W Th F Sa 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. ** Payments received after 4 p.m. are processed the next business day. 29 30 31 Celebrating 40 Years40 of Affordable Housing 1984

Wright, Wyoming 1975

In 1984, the Legislature chose to authorize WCDA to structure an economic development program for business loans in the State of Wyoming. With WCDA’s experience in raising capital, the agency was a natural choice for fi nancing economic development projects. This four year venture into the economic development arena was a success for the agency and the State of Wyoming. Twelve projects were fi nanced, defaults stayed at a remarkably low seven percent and jobs were created around the state at a time when they were desperately needed. Many of the companies are still in existence today, employing hundreds of Wyoming residents. Wright, Wyoming 1979 March 2015

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February 2015 *Late Fee First Day of Assessment St. Patrick’s Day Spring Su M Tu W Th F Sa 1 2 3 4 5 6 7 22 23 24 25 26 27 28 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

April 2015 29 30 31 1 2 3 4 Su M Tu W Th F Sa 1 2 3 4 5 6 7 8 9 10 11

**Last 12 13 14 15 16 17 18 Palm Sunday Business Day 19 20 21 22 23 24 25 26 27 28 29 30 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. ** Payments received after 4 p.m. are processed the next business day. Celebrating 40 Years40 of Affordable Housing 1989

Located close to Kelly Walsh High School in Casper, WY, the Spring Hill Apartments marked a major milestone for Wyoming Housing Network, a non-profi t organization dedicated to affordable housing development.

In 2006, the Wyoming Housing Network (WHN) purchased the Spring Hill Apartments, which were built in 1989, and in need of repairs but did not qualify for federal funds because of its In 1989, WCDA established the Community Development Block Grant Program initial HUD fi nancing. This project could have for housing activities benefi ting low to moderate income families. The goals easily become market rate rentals, however in of this program were to expand housing opportunities for low and moderate an attempt to keep the rental units affordable income neighborhoods, to improve the living conditions of low and moderate WHN succeeded in putting together a income groups and allow each local government to determine their own fi nancing package, which included using serious problems. The fi rst allocations from the program were made to Natrona HUD’s “Mark to Market” program and HUD and Laramie Counties and the Town of Superior. insured fi nancing for the fi rst mortgage. Because Spring Hill Apartments did not qualify In 1995, WCDA purchased 36 mortgages on a single-family development now for Low Income Housing Tax Credits, the gap called Mountain View Meadows in Jackson Hole, WY. Mountain View Meadows was fi nanced utilizing the WCDA Housing was built in 1992 on leased land owned by the Jackson Hole Community Trust Fund. The fi nal result was a rehabilitated Housing Trust. This unique development combined several funding sources in project and a 20-year extension of the Rental order to provide much needed affordable homeownership opportunities in Assistance on 127 rental units. Jackson Hole. April 2015

Sunday Monday Tuesday Wednesday Thursday Friday Saturday 29 30 31 1 2 3 4

Good Friday First Day of Passover 5 6 7 8 9 10 11

Last Day of Easter Sunday Passover 12 13 14 15 16 17 18

March 2015 *Late Fee Assessment Su M Tu W Th F Sa 1 2 3 4 5 6 7 19 20 21 22 23 24 25 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Earth Day 26 27 28 29 30 1 2 May 2015 Su M Tu W Th F Sa 1 2 3 4 5 6 7 8 9 **Last Business Day 10 11 12 13 14 15 16 17 18 19 20 21 22 23 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 24 25 26 27 28 29 30 ** Payments received after 4 p.m. are processed the next business day. 31 Celebrating 40 Years40 of Affordable Housing In 1990, as a result of the consolidation of fi nancial institutions, WCDA launched its mortgage loan servicing department. From an initial staff of two, the Servicing Department has grown to 12 full-time employees who service more than 12,800 loans. 1990

1990

2014 May 2015

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Cinco de Mayo 10 11 12 13 14 15 16

April 2015

Mother’s Day Su M Tu W Th F Sa 1 2 3 4 17 18 19 20 21 22 23 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 *Late Fee 26 27 28 29 30 Assessment June 2015 24 25 26 27 28 29 30 31 Su M Tu W Th F Sa 1 2 3 4 5 6 7 8 9 10 11 12 13 WCDA Closed **Last Memorial Day Business Day 14 15 16 17 18 19 20 21 22 23 24 25 26 27 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 28 29 30 ** Payments received after 4 p.m. are processed the next business day. Celebrating 40 Years40 of Affordable Housing 1995

Pioneer Homestead III

Affordable senior housing in Teton County is a rare commodity. Many seniors here find the high cost of living to be prohibitive. The need for senior housing in Teton County was recognized early on by Pioneer Homestead, Inc., a local non-profit organization. Pioneer Homestead met the needs of the county by building their first senior housing project utilizing a Rural Development Program. As the demand for senior housing grew, the non- profit explored other means of financing and applied to the Wyoming Community Development Authority for Community Housing Development Organization status under the HOME program. For phases two and three of the project, Pioneer Homestead, Inc. received allocations of both HOME funds and Low- Income Housing Tax Credits under WCDA’s competitive application process. With each additional phase of the project, the costs of construction skyrocketed, but their all-volunteer board never lost sight of their goal as they continued to work through the complexities of housing development and federal funding. Their perseverance resulted in 78 affordable senior apartments for Teton County.

“Our Board had been struggling with project details and the necessary approvals for quite some time. Our meeting with the WCDA did in fact help us get “unstuck”, the WCDA helped us put the financial package together. We have been able to provide a wonderful housing opportunity for many wonderful individuals, including the lady whose initial encounter with me is still etched in my heart.“ June 2014

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May 2015 *Late Fee Flag Day Assessment Ramadan Begins Su M Tu W Th F Sa 1 2 21 22 23 24 25 26 27 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 First Day of Summer 24 25 26 27 28 29 30 Father’s Day 31 28 29 30 1 2 3 4 July 2015 Su M Tu W Th F Sa 1 2 3 4 **Last Business Day 5 6 7 8 9 10 11 12 13 14 15 16 17 18 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 19 20 21 22 23 24 25 ** Payments received after 4 p.m. are processed the next business day. 26 27 28 29 30 31 Celebrating 40 Years40 of Affordable Housing 1996 HOME Investment Partnership

The HOME Investment Partnership Program has been an extremely useful tool for affordable housing development since 1992. Over $64,334,838 million has been allocated for development of affordable rental housing, homeownership opportunities and housing rehabilitation programs in 33 communities across Wyoming.

In 1996, Grimshaw Investments developed Parker Draw Estates, a six- plex with three bedroom units. A needs analysis and contacts within the local real estate community indicated a high demand for affordable housing. With HOME funding, [Steve] Grimshaw was able to provide that housing for families, including one unit to accommodate the disabled. July 2015

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Independence Day 5 6 7 8 9 10 11

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June 2015 *Late Fee Assessment Su M Tu W Th F Sa 1 2 3 4 5 6 19 20 21 22 23 24 25 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

August 2015 26 27 28 29 30 31 1 Su M Tu W Th F Sa 1 2 3 4 5 6 7 8 **Last Business Day 9 10 11 12 13 14 15 16 17 18 19 20 21 22 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 23 24 25 26 27 28 29 ** Payments received after 4 p.m. are processed the next business day. 30 31 Celebrating 40 Years40 of Affordable Housing 1996 The Wyoming Profi le of Demographics, Economics, and Housing

In 1996, WCDA and its housing partners formed the Wyoming Housing Database Partnership to build a vehicle that would accurately defi ne Wyoming’s housing status quo and forecast the future for housing on a statewide and county basis. A Profi le of Wyoming is the published product of those efforts, the distillation of demographic, economic, and housing data. This semi-annual publication charts economic patterns that infl uence housing, compares decades of economic data, analyzes current trends and forecasts future needs so decisions about housing development and programs can be made more soundly.

After years of developing data sources and fi ne tuning the production of the information with the help of Western Economic Services, LLC, the WCDA in partnership with the State of Wyoming, Department of Administration and Information, Division of Economic Analysis, Department of Transportation, Department of Revenue, Wyoming Multiple Listing Service, and County Assessors of Wyoming have developed this 700+ page publication highlighting the economic trends affecting housing as no other data product has done before. From this, WCDA and its partners gain insight into population changes, economic trends and housing needs. August 2015

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July 2015 Su M Tu W Th F Sa 1 2 3 4 16 17 18 19 20 21 22 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 *Late Fee 26 27 28 29 30 31 Assessment 23 24 25 26 27 28 29 September 2015 30 31 Su M Tu W Th F Sa 1 2 3 4 5 6 7 8 9 10 11 12 **Last Business Day 13 14 15 16 17 18 19 20 21 22 23 24 25 26 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 27 28 29 30 ** Payments received after 4 p.m. are processed the next business day. Celebrating 40 Years40 of Affordable Housing 2003

In 2003, WCDA developed the Habitat for Humanity Program where WCDA will purchase loans at 0% interest from Wyoming Habitat for Humanity affi liates. By recycling their funds Habitat affi liates are able to build more homes more quickly. The relationship between WCDA and Habitat has been a prosperous one resulting in 84 loans purchased for $7,600,210.

Over the years, WCDA staff has volunteered their time with local Habitat builds and has enjoyed seeing the families step into homeownership. September 2015

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WCDA Closed Labor Day 13 14 15 16 17 18 19

August 2015 *Late Fee Rosh Hashanah Assessment Su M Tu W Th F Sa 1 20 21 22 23 24 25 26 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 First Day of 23 24 25 26 27 28 29 Yom Kippur Autumn 30 31 27 28 29 30 1 2 3 October 2015 Su M Tu W Th F Sa 1 2 3 **Last Business Day 4 5 6 7 8 9 10 11 12 13 14 15 16 17 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 18 19 20 21 22 23 24 ** Payments received after 4 p.m. are processed the next business day. 25 26 27 28 29 30 31 Celebrating 40 Years40 of Affordable Housing In 2007, following the retirement of 30 year veteran, George Axlund, David Haney joined the team after the board of directors conducted a nationwide search. David played a critical role in WCDA’s strategic planning efforts in 2006 and became known to the Board as a thoughtful and innovative leader. After a long and thorough search for an executive 2007 director, David rose quickly to the top of the list with his breadth of experience in the workforce housing and community development arenas.

Since coming to Wyoming, David has served on the Advisory Board for Building the Wyoming We Want and as housing’s representative on the Governor’s American Resource and Recovery Act steering Dan Sullivan, George Axlund, David Haney committee. Under David’s leadership, the Authority has administered several housing and economic stimulus programs including the New Issue Bond Program (NIBP), the Temporary Credit Liquidity Program (TCLP), the Tax Credit Exchange Program (TCX), the Tax Credit Assistance Program (TCAP) and the Neighborhood Stabilization Program (NSP). He currently serves as board member of the National Conference of State Housing Agencies where he chairs the Rural Task Force.

David spent 20 years as senior vice president of Bank of America representing the Bank’s community development interests in Northern New England. He also served as chairman of the board of the New Hampshire Housing Finance Authority, national and New England Advisory board member for NeighborWorks America, member of Fannie Mae’s New England Advisory Board, founding chair of the New Hampshire Community Reinvestment Corporation, and has served on several boards of organizations focused on affordable housing.

David has been engaged in multiple community- based activities in the areas of affordable housing, economic development, diversity, and environmental issues, and is considered a national expert in many of the disciplines. October 2015

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September 2015 WCDA Closed *Late Fee Columbus Day Assessment Su M Tu W Th F Sa 1 2 3 4 5 18 19 20 21 22 23 24 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

25 26 27 28 29 30 31 November 2015 Su M Tu W Th F Sa 1 2 3 4 5 6 7

**Last 8 9 10 11 12 13 14 Business Day Halloween 15 16 17 18 19 20 21 22 23 24 25 26 27 28 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 29 30 ** Payments received after 4 p.m. are processed the next business day. Celebrating 40 Years40 of Affordable Housing 2008 Sunshine Apartments, Casper 2012 Built Using NSP Funding

In 2008, the U.S. Department of Housing & Urban Development (HUD) established the Neighborhood Stabilization Program (NSP) for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. The Neighborhood Stabilization Program (NSP) provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Sunshine Apartments, both Gold LEED Certifi ed multi-family complexes were developed under NSP in a redevelopment area of downtown Casper.

Additionally, the WCDA took a creative approach to the use of NSP funding by creating the Wyoming Rehabilitation and Acquisition Program (WRAP). WRAP purchases foreclosed and abandoned single-family properties, rehabilitates the properties, and then sells the properties to qualifi ed, income eligible households. As of FYE 2014, 81 homes have been rehabilitated and sold to Wyoming citizens under WRAP utilizing NSP funding. Henry Carr, WRAP Homeowner November 2015

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Daylight Saving Time Ends 8 9 10 11 12 13 14

WCDA Closed Veterans Day 15 16 17 18 19 20 21

October 2015 *Late Fee Assessment Su M Tu W Th F Sa 1 2 3 22 23 24 25 26 27 28 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 WCDA Closed 25 26 27 28 29 30 31 Thanksgiving Day WCDA Closed 29 30 1 2 3 4 5 December 2015 Su M Tu W Th F Sa 1 2 3 4 5

**Last 6 7 8 9 10 11 12 Business Day 13 14 15 16 17 18 19 20 21 22 23 24 25 26 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. 27 28 29 30 31 ** Payments received after 4 p.m. are processed the next business day. Celebrating 40 Years40 of Affordable Housing 2009

The New Issue Bond Program (NIBP) was established in 2009 using the authority provided to the U.S. Treasury Department under the Housing and Economic Recovery Act of 2008 (HERA). The NIBP provided temporary financing for Housing Finance Agencies (HFAs) to issue new housing bonds after the financial crisis. The U.S. Treasury purchased securities of Fannie Mae and Freddie Mac which were backed by these new housing bonds. Under this program WCDA sold $193.1 million of bonds to the federal government which were rolled out over the next three years. In the first two years of the program, 60% of the bonds issued had to consist of the federal program bonds and 40% had to be sold into the public market. In the final year of the program, all bonds could be federal program bonds. The $193.1 million of federal program bonds were matched with $94.8 million of publicly issued bonds over the duration of the NIBP. December 2015

Sunday Monday Tuesday Wednesday Thursday Friday Saturday 29 30 1 2 3 4 5

6 7 8 9 10 11 12

First Day of Hanukkah 13 14 15 16 17 18 19

November 2015 Last Day of *Late Fee Hanukkah Assessment Su M Tu W Th F Sa 1 2 3 4 5 6 7 20 21 22 23 24 25 26 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 First Day of WCDA Closed 29 30 Winter Christmas Eve Christmas Day 27 28 29 30 31 1 2 January 2016 Su M Tu W Th F Sa 1 2 **Last Business Day WCDA Closed 3 4 5 6 7 8 9 New Year’s Eve New Year’s Day 10 11 12 13 14 15 16 17 18 19 20 21 22 23 * Payments received after 4 p.m. are processed the next business day, and are considered late payments subject to a late fee. ** Payments received after 4 p.m. are processed the next business day. 24 25 26 27 28 29 30 31 Celebrating 40 Years40 of Affordable Housing CREATIVITY RESPECT

STEWARDSHIP & INTEGRITY COMMITMENT & RESPONSIBILITY & RESPONSIVENESS ACCOUNTABILITY

VALUES WE TRUST Wyoming Community Development Authority 155 N. Beech St. • Casper, WY 82601 • Phone (307) 265-0603 • Fax (307) 266-5414 Servicing Phone (307) 265-5102 • Servicing Fax (307) 265-0306