News Release –April 29 , 2022
NALHFA Honors Rich Froehlich with
Lifetime Distinguished Achievement Award
An Industry Legend Honored
[New York, NY] - On Monday, April 25 during its Annual Conference in New York City, NALHFA presented its Lifetime Distinguished Achievement Award to former NALHFA President Rich Froehlich, First Executive Vice President & Chief Operating Officer of the New York City Housing Development Corporation (NYCHDC). His dedication to and leadership in the affordable housing community was unwavering and set an example for all affordable housing advocates across the country.

In recognition of outstanding contributions and service to the National Association of Local Housing Finance Agencies (NALHFA) and the entire local affordable housing finance community, Froehlich was honored with NALHFA’s Lifetime Distinguished Achievement Award presented by Dawn Arnold, NALHFA President. This rarely-given national award is a testament to Froehlich's brilliant mind, strong leadership, and commitment to protect New York's most vulnerable residents.

During Rich's tenure at NYCHDC, he helped to solve some of New York City's most challenging housing problems. Most recently, Rich played an integral role in the design and implementation of the Mayor’s housing plan. Rich's passion for this critical work led the charge to secure more of the resources needed to help keep New Yorkers in safe, reliable, and affordable housing. Rich was also a deeply dedicated scholar, serving for many years as an adjunct professor at Columbia University where he spread his wealth of knowledge and passion for affordable housing and public finance to the next generation.

Before joining NYCHDC, Rich was a Counsel at the law offices of O’Melveny & Meyers LLP where he was involved in numerous multi-family housing transactions representing equity investors, lenders, credit enhancers and issuers in bond-financed transactions. He is a 1988 graduate of Columbia University School of Law and a 1985 graduate of Columbia University's Columbia College.

“Rich was a remarkable leader in our field and a tremendous individual who greatly affected the lives of those he worked with and mentored. Rich’s kindness, brilliance, and creativity will have lasting impact on every aspect of the industry,” said HDC President Eric Enderlin. “New York City is truly a better place thanks to him and NALHFA’s Distinguished Lifetime Achievement Award is a meaningful testament to that enduring legacy.”

“NALHFA was extremely fortunate to have had someone with Rich's leadership and commitment during his term as President,” said NALHFA Executive Director Jonathan Paine. Many of us know Rich as an exceptional problem-solver, educator, thought leader and a fierce affordable housing advocate. For everything that he has given back, not only to NALHFA but to the entire affordable housing finance community, he is more than deserving of NALHFA’s Lifetime Distinguished Achievement Award. He will always be remembered as a pillar in the industry whose legacy will live on eternally.”

About NALHFA: The National Association of Local Housing Finance Agencies (NALHFA), founded in 1982, is the national association of professionals working to finance affordable housing in the broader community development context at the local level. As a non-profit association, NALHFA is an advocate before Congress and federal agencies on legislative and regulatory issues affecting affordable housing and provides technical assistance and educational opportunities to its members and the public. Members are city and county agencies, non-profits, and private firms, such as underwriters, consultants, financial advisers, bond counsel, and rating agencies, which help in producing housing from concept to completion.