The Renewal Enterprise District (RED) is looking for two individuals who are interested in serving on the RED Housing Fund's (RHF) Board of Directors. The RHF, or Fund, will launch as an independent non-profit organization, seeded with $20 million in loan capital, to produce greater housing density within urban areas of Sonoma County in a more equitable, sustainable manner. The RHF is designed to transform downtown Santa Rosa and other appropriately planned areas of Sonoma County by lending to higher density, infill, transit-oriented housing in Transit Priority Areas, Priority Development Areas, Rural Community Investment Areas, Specific Plan Areas, High-Quality Transit Corridors or Qualified Opportunity Zones. Through its targeted investments, the RHF seeks to promote climate and disaster resilience in equitable communities that foster cultural, racial and economic diversity.
Ideal candidates will be qualified to represent the community as well as the Fund’s goals. Selected Board members will be able to provide strategic and organizational direction and guidance to the Fund, while also being able to evaluate credit decisions. Individuals selected for the Fund’s Board will be persons with skillsets or experience that complement the Fund’s goals. For example, from the private sector: senior personnel from a credit union, accounting firm, non-profit, cultural or community-based organization, persons with real estate development experience, or senior staff at lending institutions and investment firms that finance affordable and market rate multifamily housing. Examples from the public sector could include: a senior employee of a housing authority, economic development division, community development department, or other relevant agency. RHF Board members will not be required to file a Statement of Economic Interests (Form 700) but will be obligated to comply with the RED Housing Fund’s conflict of interest policy.
The Board of the RHF will have to balance several competing objectives, such as aligning itself with the goals and project criteria of the RED, while also promoting private investor confidence in the independence and ability of the Fund to make strong credit and programmatic decisions.
RHF Directors are volunteers who are willing to serve their community without compensation. The ability to meet on short notice will be beneficial to the Fund's objective to accelerate the production of housing. Board members should be prepared to meet regularly over the next several months and would be expected to review materials in advance of meetings.
To apply, please complete the application found here and return with a statement of qualifications (up to two pages in length) by 5:00 PM on July 23, 2021 to:
Thank you for considering this opportunity to serve our community. To learn more about the collaboration between the City of Santa Rosa and the County of Sonoma to increase smart housing in our communities, visit the RED Website.
The Office of Supervisor Chris Coursey
In Partnership with RED