Edwin King to Join the Federal Reserve Bank of Cleveland’s Community Advisory Council
Eastern Kentucky region will be represented in an advocacy seat in affordable housing.
FRANKFORT, KY — Edwin King, executive director of Kentucky Housing Corporation (KHC), was selected to serve on the Federal Reserve Bank of Cleveland’s Community Advisory Council (CAC), which is responsible for research, analysis, and engagement on economic issues facing underserved and lower-income individuals and communities across the federal Fourth District, comprising of eastern Kentucky, Ohio, western Pennsylvania, and the northern panhandle of West Virginia.
The CAC encompasses a diverse group of experts and leaders who not only represent geographic, demographic, and sector diversity, they also represent professions that may come from community development corporations, foundations, state and local government offices, labor representative, academic institutions, and other organizations focused on financial health, housing, small business, workforce development, and community development investments.
Together, this Council will foster a better understanding among policymakers, community leaders, and private-sector decision makers of the challenges faced by underserved and lower income individuals and communities, to promote data-driven solutions and practices; promote effective cooperation among community organizations, government agencies, financial institutions, and other practitioners to their mutual benefit; and foster the active engagement of depository institutions in providing credit and other banking services to their communities. King’s commitment to this service is two years.
King was appointed as executive director of Kentucky Housing Corporation (KHC) in July 2017, after serving a year and a half as vice chairman of KHC’s Board of Directors in the role as proxy for the state’s Finance Cabinet Secretary William Landrum III.
“It is an honor to be serving on the Federal Reserve Bank of Cleveland’s Community Advisory Council,” said Edwin King. “I look forward to serving with these members in support of the goals for this Council that will help the underserved in the communities of eastern Kentucky and others in District 4.”
In October 2017, King was also elected to serve on the Board of Directors for the National Council of State Housing Agencies, which is a nonprofit, nonpartisan organization created by the nation’s state housing finance agencies.
“Housing and lending challenges are unique to each geographic region of Kentucky,” said King. “My work, and the work of this Council, through input and collaboration will focus on solutions that make lasting impacts for families and individuals in Kentucky and across the nation.”
About Kentucky Housing Corporation
As Kentucky’s housing finance agency, Kentucky Housing Corporation (KHC) offers programs designed to create, preserve, and sustain affordable housing. In partnership with state and federal agencies, KHC administers programs that assist low- and moderate-income households with affordable home loans and down payment assistance, affordable rental homes, housing solutions for homeless, and specialized housing with supportive services.
Created by the General Assembly in 1972, KHC is a self-supporting, public corporation of the Commonwealth of Kentucky. KHC is a quasi-governmental agency, which is administratively attached to the Finance and Administration Cabinet, and a portion of KHC’s funds are derived from the interest earned through the sale of tax-exempt mortgage revenue bonds. From these proceeds, KHC has made homeownership possible for more than 94,000 Kentucky families.
KHC also receives fee income for administering federal programs, including rental assistance that makes quality housing available to more than 27,500 low-income Kentuckians. Other programs offered by KHC include rental housing financing for development and preservation, rental assistance, homelessness assistance, homeownership pre-purchase education/counseling, home energy and repair initiatives, as well as loan servicing of its mortgage loans. KHC works with many partners across the state to invest in and create affordable housing opportunities.