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MSHDA set to welcome first woman executive director
January 19, 2023
Amy Hovey brings depth of experience in housing solutions
LANSING, Mich. – It’s official. Amy Hovey will assume the role of executive director of the Michigan State Housing Development Authority, MSHDA Board Chair Susan Corbin announced today.
Hovey, a former special projects coordinator for the Charles Stewart Mott Foundation and most recently state Department of Labor and Economic Opportunity (LEO) contractor on housing matters, will start Monday.
Hovey will be the first woman to serve as executive director of MSHDA (in a non-acting capacity) in its 56-year history. Corbin, director of the Michigan Department of Labor and Economic Opportunity, briefly held the position of acting executive director of the Authority several years ago.
“Amy’s unique private, public and nonprofit experience and extensive understanding of the housing industry make her an ideal fit,” Corbin said.
Citing her prior experience working for U.S. Rep. Dan Kildee (D-Flint), for the Center for Community Progress and Local Initiatives Support Corporation (LISC), Corbin added: “She is a relationship-builder known for her professionalism across all sectors. Within LEO we have benefited from her creative ideas and welcome the energy and expertise she will bring to MSHDA.”
Corbin also praised Gary Heidel, who has been serving as acting executive director for several years.
“Gary has provided steadfast leadership to MSHDA during an unprecedented time in our state’s history with a public health crisis and pandemic. He will be invaluable to Amy as she makes the transition and will play a key advisory role.”
In addition to Hovey’s six years at the Mott Foundation, she also has experience in finance, government relations, commercial real estate, construction, housing and neighborhood revitalization. She began her career as a banker, and went on to hold the position of senior vice president and CEO of the Center for Community Progress in Washington, D.C.
Hovey said she is ready to hit the ground running.
“I am enthusiastic about this opportunity and ready to get started. I take great pride in leading an agency and staff whose work and mission I have admired for years,” Hovey said. “Together, we will do great things for the people of Michigan.
The Michigan State Housing Development Authority (MSHDA), established in 1966, provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant cities, towns and villages, and address homeless issues.
MSHDA's loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. Proceeds of the bonds and notes are loaned at below-market interest rates to developers of rental housing, and also fund home mortgages and home improvement loans. MSHDA also administers various federal housing programs.
Michigan’s Statewide Housing Plan
The Whitmer-Gilchrist Administration has taken a holistic approach to increase housing supply, lower costs, set bold housing goals, and make investments to make homes more comfortable, safe, and energy efficient. Governor Whitmer released Michigan's first Statewide Housing Plan in partnership with MSHDA to ensure that every Michigander has access to affordable housing that meets their needs. To tackle the state's housing crisis, Governor Whitmer laid out the ambitious goal of creating 75,000 new or rehabilitated housing units within the next five years.