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William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.
Great experience purchasing our first home! Bill was easy to reach and always able to answer any questions or concerns.
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š Investigation Sparks Leadership Change at HHA š¢
šØ CEO Resignation Amid HHA Probe: Key Updates š
š” Transparency Wins: Houston Housing Authority Update š¢
The Houston Housing Authority (HHA) has found itself in the spotlight amid leadership changes and mounting scrutiny over its practices. David Northern, who served as president and CEO since February 2022, resigned this week in the wake of an investigation into his duties and decision-making. Letās break down the story and what it could mean for Houstonās housing future.
Northernās resignation comes with a severance package of six monthsā salary and health insurance. His departure follows a period of intense scrutiny, including an investigation into HHAās contracting practices and Northernās performance. The investigation also looked into whether Northern fulfilled his fiduciary duties.
Adding to the tension, federal agents recently tested soil samples at The Pointe at Bayou Bend, an HHA property near a contaminated incinerator site in the East End. This raised questions about past leadership decisions, with Mayor John Whitmire calling the projectās location a mistake and accusing HHA of withholding critical information from its board.
With Northern stepping down, Jennine Hovell-Cox, HHAās general counsel, has been appointed interim president and CEO. Mayor Whitmire expressed confidence in the board's efforts to bring transparency and accountability to the organization. This leadership shake-up follows Whitmireās earlier move to replace five of the seven HHA board members earlier this year.
This isnāt the first time HHA has faced criticism. Last year, questions arose about its use of Public Facility Corporations (PFCs), which enable tax breaks for affordable housing properties. However, a Houston Chronicle analysis revealed that only 1% of these tax-exempt units served low-income residents. The authority was also found to have missed out on millions of dollars in project fees.
The resignation of David Northern signals a potential turning point for the HHA. With new leadership in place and ongoing investigations, Houston residents and stakeholders will be watching closely to see how the authority addresses past missteps and rebuilds trust.
The housing challenges facing the cityāfrom homelessness to affordable housing shortagesārequire a transparent and strategic approach. As Houston continues to grow, ensuring accountability within the HHA will be crucial for meeting the needs of its most vulnerable populations.
š¬ Whatās your take on the changes at HHA?
Share your thoughts below or reach out to discuss how these developments might shape Houstonās housing market.
Iām an experienced Commercial Real Estate Mortgage Broker, please feel free to reach me at 281-222-0433.
#HoustonHousing #LeadershipChanges #AffordableHousing #TransparencyMatters #CREInsights
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Ā© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory
Buying your first home can be both exciting and nerve-wracking at the same time. With so many things to consider and....
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Copyright Ā©2021 | Mortgage Viking Team
Licensed to Do Business | NMLS # 228246
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright Ā© 2021 | Medallion Funds
Corporate | NMLS ID NMLS # 1825831
Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014
Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/
Copyright Ā©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply
Corporate | NMLS ID NMLS # 1825831
Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014 https://medallionfunds.com/bill-rapp/
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