A Farewell to ICFA President – W. Michael McCormick

W. Michael McCormick is stepping down from the Independent Cities Finance Authority (“ICFA”) Board, where he has actively served since 1987. He was elected as ICFA board President in 1997, and has held that position for the past 19 years.

Mr. McCormick has been a resident of the City of Vernon since 1969, where he worked in a variety of business environments during his 40-year private sector career. He served on the Vernon City Council for 41 years, and has also been active in the Los Angeles Area Boy Scouts of America (BSA) organization for over 40 years.

“I have had the pleasure of working with Mike since he first came on board in 1987,” commented Debbie Smith, Executive Director, Independent Cities Finance Authority. “Mike’s contributions to ICFA have been immeasurable and he will be greatly missed.”

Gil Hurtado, Vice President of ICFA said, “Mike was such an asset to our board, and I truly enjoyed working alongside him. We are so appreciative of his many years of service to ICFA.”

Mr. McCormick has also represented his community by serving as a Board Member of numerous area organizations:

• Los Angeles County Sanitation – 23rd District since 1974.
• Independent Cities Association – as a Board Director since 1987 and serving as President in 2008-09.
• The Orangeline Development Authority – as Board Director since 2003 and Secretary/Treasurer since 2007.
• Southeast Cities School Coalition – as a Board Director since 2005.
• California Contract Cities Association

W. Michael McCormick has had a positive impact both in his community and on the ICFA board. ICFA thanks Mr. McCormick for dedicating his life to service, for being an instrumental member of the ICFA board for the past 27 years, and wishes him well in his future endeavors!

ICFA Brings Experts Together to Find “Housing Programs That Work”

On January 16, the Independent Cities Financing Authority (ICFA) sponsored the half day seminar “Housing Programs That Work in the Post-Redevelopment World” at the Luminarias in Monterey Park. The Seminar featured several distinguished speakers covering topics including mobile park home financing, single-family home ownership and affordable housing strategies. “It was wonderful to see so many of our associates together in one space,” said ICFA Program Administrator Debbie Smith. “It was a unique opportunity to gather great minds and discuss what options are available to the professionals in our industry now that redevelopment has been dissolved. I’m very grateful to our presenters for bringing their ideas.”

After the 2011 passage of AB 26 and AB 27 and the subsequent State Supreme Court decision effectively ending redevelopment agencies, cities found a significant source of funding severed while community demand for such projects was growing in a time of economic fragility. “With the elimination of redevelopment, cities need alternative tools to fuel economic development. ICFA is one of those tools. By providing efficient alternative financing to infrastructure and capital assets that benefit communities, ICFA can be a partner with local governments in their economic development plans. Today’s seminar is focused on a key issue: continuing affordable housing projects. ICFA is taking the lead in bringing city staff and elected official together to innovate city housing programs.” said ICFA President Mike McCormick.

Featured presenters included Pam Newcomb and Janees Williams of the Newcomb De Dios Financial Group, George Turk of Millennium Housing, Vaughn Irons and Chapman Walsh of APD Solutions, John Raymond of the City of Palm Springs, Matt Duke of Avant Strategic Partners, Ryan Warburton, Fredrick Olsen and Preston Olsen of Ballard Spahr, Matt Callahan of Civic Center Home Loans, Walter Zhovreboff of First Home Inc, and Remoun Said of ReNew Real Estate Sales.

“This Seminar shows that those of us that work in the municipal world need to do a better job of sharing ideas that work” said Wesley Wolf, former city administrator and owner of Wolf and Company. The Seminar was followed by a lunch reception where attendees and speakers networked discussed the solutions presented in the Seminars.

Click here to view photos of the event. To learn more about ICFA visit their website at http://www.icfauthority.org

ICFA 2013 “Housing Programs That Work” Seminar

Photos of the “Housing Programs that Work” Seminar produced by the Independent Cities Finance Authority.

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