Margaret T. “Peg” O'leary Re-Elected Chair Of Federal Home Loan Bank Of New York's Affordable Housing Advisory Council
Contact: Eric Amig - 212 441-6807 |
May 23 , 2002 |
New York, New York – Alfred DelliBovi, President of the Federal Home Loan Bank of New York, announced that Margaret T. “Peg” O'Leary, Chief Executive Officer of Hudson Valley Housing Development Fund Company, Inc., Wappingers Falls, NY, was re-elected Chair of the Federal Home Loan Bank of New York's Affordable Housing Advisory Council (AHACouncil). She was elected Chair by the 11i4 community development professionals who make up the AHACouncil. The AHACouncil meets four times each year and provides insights to the Home Loan Bank into the housing and community development needs of our cities and neighborhoods.
The Federal Home Loan Bank of New York is a dedicated housing lending partner. It has presently $80 billion in wholesale loans on its books for 295 community member lenders to help fund home mortgages. The Home Loan Bank also supports lower housing costs through the Affordable Housing Program (AHP). Since AHP's launch in 1990, the Home Loan Bank has contributed $146 million from its earnings to support 24,000 affordable housing units.
Atwood Collins III, Chairman of the Federal Home Loan Bank of New York and Executive Vice President of M&T Bank, Fishkill, NY, said, “The Home Loan Bank and our community partners benefit from Peg's unequalled knowledge of community and economic needs and her strong leadership. We greatly value her advice and counsel.”
Peg O’Leary is Chief Executive Officer of Hudson Valley Housing Development Fund Company, Inc., a regional not-for-profit housing development corporation, and its parent corporation, Community Services Programs, Inc., a region-wide, not-for-profit housing and community development corporation.
Through the years, Ms. O'Leary has been a strong leader and strong advocate for housing and economic revitalization in the Hudson Valley. Community Services Programs is involved in numerous community development efforts that include the construction of an industrial park access bridge, historic preservation projects, a municipal parking lot, childcare and youth facilities, and municipal infrastructure projects including roads, sidewalks, and water supply and emergency water supply projects.
Al DelliBovi, President of the Home Loan Bank, echoed these comments, “For nine years Peg has served on the Home Loan Bank’s Affordable Housing Advisory Council. I have seen just how enthusiastic and tireless she is in working toward housing and community development. We are delighted she has again accepted the position of Chair of the Council.”
Peg O’Leary stated,” It is once again an honor to have been elected Chair of the Federal Home Loan Bank of New York’s Affordable Housing Advisory Council. Over the past ten years, the Bank’s Affordable Housing Program has become a shining example of what a true public-private partnership can accomplish for our communities. With the guidance of an extraordinarily diverse and accomplished group of community development specialists on the Council, the Bank will continue to enhance its community support mission. I am honored to once again serve as Chair of the Council. Al DelliBovi’s leadership, as President of the Bank, and Woody Collin’s direction, as the Chairman, assure with the assistance of the Advisory Council a constant and innovative response to the needs of the Bank’s local lender members and our communities.”
The Home Loan Bank of New York serves New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands.