Press Releases
Homeownership for Teachers was High Point of Fraser Chairmanship - 8/15/2008
Among the many accomplishments of Christopher Fraser’s tenure as Chairman of the South Carolina Housing Finance and Development Authority, providing homes for teachers ranks near the top.
This $20 million dollar “Palmetto Heroes” initiative assisted teachers in purchasing their first home. The initiative provided 170 loans for teachers across the state. The program was so successful that the allocated funds were depleted in about 60 days.
Recognized for his service at a recent meeting of the Board of Commissioners, Fraser acknowledged the efforts of everyone who made the program successful, focusing on the collaboration with the Department of Education. In remarks during the recognition, Fraser said “Like affordable housing, education must be among this state’s top priorities. I am very proud that we have been able to have a positive impact on both of these areas. We should all be proud of helping to build our communities by helping provide homes for those who do so much for us.” Fraser expects the program to be repeated in March or April of 2009.
Other accomplishments during Fraser’s term as Chairman included issuance of $140 Million (AAA) bonds to benefit homebuyers; $27 Million in bonds for a, first of its kind in the nation, pooled bond transaction to save over 830 affordable housing units deemed at risk of exiting under the USDA’s Rural Development Section 515 program and a partnership with the Lieutenant Governor’s Office on Aging to offer rental assistance to senior citizens.
Appointed to the Commission in 2004, Fraser assumed the Chairmanship in 2007. His term expired in August. He chose not to seek reappointment after deciding to seek a seat on the Charleston School Board.
Fraser is succeeded as chairman by T. Scott Smith of Sullivan’s Island.
Equal Housing Opportunity