MAYOR BRONIN NOMINATES MALLEY AS COO AND HILL AS CFO
HARTFORD, CONN. (JUNE 22, 2016) - Today, Mayor Luke Bronin formally nominated Bonnie Malley to serve as the City of Hartford’s new Chief Operating Officer (COO) and Darrell Hill, to take on a new role as the City’s Chief Financial Officer (CFO). Pending approval by the Court of Common Council, both Malley and Hill will serve in acting capacities beginning July 5th.
“I’m thrilled to make these announcements today,” said Mayor Bronin. “Bonnie and Darrell both bring tremendous talent and experience and have already been important members of our team, and I will be asking a lot from both of them as we work to get Hartford’s house in order. I know that they both believe deeply in Hartford and in Hartford's future, and share my commitment to addressing our challenges openly and directly."
Before being nominated by Mayor Bronin to become the City’s new COO, Ms. Malley served as Executive Vice President and Chief Financial Officer (CFO) of The Phoenix Companies, Inc. In this position. Ms. Malley was responsible for all financial management and oversight as well as investor relations.
Before serving as the CFO for The Phoenix, Ms. Malley served as the company’s Chief Administrative Officer and was responsible for Human Resources, IT, and other administrative functions. A proud resident of Hartford, Ms. Malley is a member of the Bushnell Center for Performing Arts’ board of trustees and serves on the board of directors for the MetroHartford Alliance, the Connecticut Forum and the iQuilt Partnership, among others. She holds a bachelor’s degree in accounting from Western New England College.
"I am excited to begin officially working with Mayor Bronin and his team," said Ms. Malley. “I will be partnering with all areas of city government to ensure we are focused on addressing our challenges and executing on our priorities."
Mr. Hill, who serves as the COO for the City, is being nominated to take on a new CFO role. As CFO, he will be the head of finance for the City. Also, he will oversee both the Finance Department and the Office of Management, Budget & Grants (OMB). The OMB Director will report to the CFO rather than to the Chief Operating Officer.
Before joining the City of Hartford, Mr. Hill served the City of Norfolk, VA for five years. His positions in Norfolk included Director of Finance & Business Services and, subsequently, Assistant City Manager.
Mr. Hill was also a Senior Vice President with BB&T Capital Markets’ Public Finance Group and Executive Director of the Virginia Resources Authority, the state’s funding source for local government infrastructure financing. He holds a Bachelor of Science in Economics from Hampton University and is a member of the Government Finance Officers Association (GFOA) and the International City/County Management Association (ICMA).
"I look forward to the opportunity to work with Mayor Bronin, City Council, Treasurer Cloud and the residents and businesses of our Capital City with a focus on developing strategies and plans for implementation to address the systemic and institutional issues, problems and situations facing Hartford’s financial future,” said Mr. Hill.
Each respective nomination requires Common Council approval.
MAYOR BRONIN ANNOUNCES NEW CATIC NATIONAL COMMERCIAL SERVICES OFFICE COMING TO HARTFORD
HARTFORD, CONN. (JUNE 22, 2016) — Today, Mayor Bronin announced that a new CATIC National Commercial Services Office is coming to Hartford. CATIC is New England’s largest and only domestic Bar-Related title insurance underwriter. The office will be located at CityPlace II (185 Asylum St.) on the 15th Floor. CATIC National Commercial Services will operate from this office and will assist title agents with their commercial deals throughout the United States.
“CATIC is a leading title insurance underwriter, with a strong and longstanding commitment to the greater Hartford region, and we’re thrilled to welcome CATIC to downtown Hartford,” said Mayor Bronin. “CATIC recognized the importance of having a presence right in the heart of our capital city.”
Founded in 1966, CATIC is an underwriting member of the American Land Title Association (ALTA), the New England Land Title Association (NELTA), as well as the North American Bar-Related Title Insurers, and offers ALTA policies and expanded protection policies for both residential and commercial properties throughout New England. For its stability and dependability in the market, CATIC has earned an “A” rating from Demotech.
Collectively, the members of this team come with decades of both commercial and residential real estate expertise and will focus on expanding CATIC’s existing commercial underwriting footprint.
“For the first time in CATIC’s 50 year history, we now have an office in downtown Hartford,” said James Czapiga, Esq., CATIC’s President and CEO. "The office will be dedicated to servicing the title insurance needs of commercial real estate attorneys and law firms. The primary focus of CATIC’s new Commercial Division will be on real estate transactions in the $5 million to $500 million range. The office is fully staffed with experienced counsel and underwriters and is operational.”
With its corporate headquarters located in Rocky Hill, Conn., CATIC, the primary operating subsidiary of its parent holding company, CATIC Financial, Inc., now has eight offices throughout New England and is currently licensed in Connecticut, Massachusetts, Rhode Island, Vermont, Maine and New Hampshire.
The company issues its title policies through a network of more than 2,000 attorneys, providing high-quality professional services to our policy-issuing attorneys, insured lenders, homebuyers, and other members of the real estate community.
MAYOR BRONIN URGES CONGRESS TO PASS BILL THAT WOULD HELP BUILD 400,000 NEW AFFORDABLE HOUSING UNITS NATIONWIDE
HARTFORD, CONN. (JUNE 22, 2016) — Today, Mayor Luke Bronin is urging Congress to pass the Affordable Housing Credit Improvement Act (S. 2962) to expand the low-income housing tax credit. This bipartisan legislation, currently under consideration by the U.S. Senate Finance Committee, would help strengthen and expand the highly successful Low Income Housing Tax Credit (LIHTC) Program by 50 percent, and assist in creating or preserving over 1.3 million affordable homes throughout the country over the next decade.
Since its creation 30 years ago, the LIHTC has financed nearly 2.9 million homes across the United States, leveraging more than $100 billion in private investment. Between 1986 and 2013, more than 13.3 million people have lived in homes that have been financed by the LIHTC.
Mayor Bronin, in a letter to U.S. Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR), stressed the importance of passing the Affordable Housing Improvement Act for families and communities across the country.
"Access to safe and affordable housing is essential for the health and well-being of Hartford’s residents and the economic strength of our community,” said Mayor Bronin. "Many of our residents spend a disproportionately high percentage of their income on housing, leaving little for other necessities such as food, healthcare, education and transportation to employment. The LIHTC has long been one of the most effective tools available to address rental housing shortages and increase access to affordable housing.
Mayor Bronin also noted that passing this bill will help some of the most vulnerable populations from missing out on housing opportunities while contributing to job creation.
“Importantly, the LIHTC Program also harnesses the private market in support of the public good and is one of the most effective tools for public-private partnerships in housing,” said Mayor Bronin. "These public-private partnerships benefit of broad spectrum of residents, from those who are formerly homeless, to seniors and working families priced out of high-cost rentals. Further, the tax credit is an important job creator, generating approximately $7.1 billion in economic income and roughly 96,000 jobs per year across many industries.”
Across the country, there are 3.9 million extremely low-income families that lack access to affordable housing, according to a recently released report from the Office of U.S. Senator Maria Cantwell (D-WA). Also, the report asserted that more than 500,000 individuals experience homelessness across the United States. However, despite the demonstrated need and the effectiveness of the LIHTC, Congress has not increased the program’s annual allocation in 16 years.
“This legislation has broad support and is important to our cities, our residents, and our nation,” said Mayor Bronin. “We urge your committee to pass S. 2962, the Affordable Housing Credit Improvement Act expeditiously."
Sen. Maria Cantwell (D-WA) introduced The Affordable Housing Credit Improvement Act (S. 2962). Mayors from across the country have penned letters in support of the bill, including: Ed Murray (Seattle, WA); Bill de Blasio (New York City, NY); Steve Adler (Austin, TX); Eric Garcetti (Los Angeles, CA); Charles Hales (Portland, OR); Betsy Hodges (Minneapolis, MN); Dan Horrigan (Akron, OH); Sly James (Kansas City, MO); Ed Lee (San Francisco, CA); Jeri Muoio (West Palm Beach, FL); Stephanie Rawlings-Blake (Baltimore, MD); and Marty Walsh (Boston, MA).
Read the full-text of Mayor Bronin’s letter in support of the Affordable Housing Credit Improvement Act (S. 2962) below.
Dear Chairman Hatch and Ranking Member Wyden:
I am writing to register my strong support for quick passage of S. 2962, the Affordable Housing Credit Improvement Act to reform and expand the low-income housing tax credit. This bipartisan legislation currently under consideration in your Committee would help strengthen the highly successful Low Income Housing Tax Credit (LIHTC) Program by 50 percent, and help create or preserve over 1.3 million affordable homes throughout the country over the next decade.
Access to safe and affordable housing is essential for the health and well-being of Hartford’s residents and the economic strength of our community. Many of our residents spend a disproportionately high percentage of their income on housing, leaving little for other necessities such as food, healthcare, education and transportation to employment. The LIHTC has long been one of the most effective tools available to address rental housing shortages and increase access to affordable housing.
Your leadership is critical. A 50 percent expansion of the 9 percent LIHTC allocation will provide an important resource to support the creation or preservation of an estimated 400,000 additional affordable rental units over the next ten years. The legislation also permits income averaging for both the 4 percent and 9 percent credits, which will allow developers to serve a wider band of people across the income spectrum. Many low and moderate income families miss out on the opportunity to secure much-needed affordable housing due to the very narrow income bands prescribed in the current program.
Importantly, the LIHTC Program also harnesses the private market in support of the public good and is one of the most effective tools for public-private partnerships in housing. Developers compete to be awarded credits for their housing projects and then sell the credits to investors to raise equity. These public-private partnerships benefit of broad spectrum of residents, from those who are formerly homeless, to seniors and working families priced out of high-cost rentals.
Further, the tax credit is an important job creator, generating approximately $7.1 billion in economic income and roughly 96,000 jobs per year across many industries.
This legislation has broad support and is important to our cities, our residents, and our nation. I urge your committee to pass S. 2962, the Affordable Housing Credit Improvement Act expeditiously.
Mayor of Hartford, Conn.
STATEMENT: MAYOR BRONIN ON TODAY’S VOTE IN THE U.S. SENATE ON FOUR GUN BILLS
"Enough is enough. We need Congress to pass these bills.” — Mayor Luke Bronin
HARTFORD, CONN. (JUNE 20, 2016) — BACKGROUND: Today, the U.S. Senate plans to vote on four gun bills, including an amendment sponsored by Senator Chris Murphy (D-CT) — co-sponsored by Senator Richard Blumenthal (D-CT) — that would close the “gun show loophole” by requiring every gun purchaser to undergo a background check. It would also expand the background check database (click here for more info: http://wapo.st/28JpxcD).
In advance of the U.S. Senate taking up these four bills, Mayor Luke Bronin made the following on-the-record statement:
“I’m urging Congress to pass necessary, common sense gun laws today. As a nation, we continue to see tragedies mount as easy access to military-style weapons allows sick and evil individuals to inflict more pain than anyone should be capable of inflicting. The majority of Americans support background checks for gun shows, expansion of the federal background check database, banning gun sales to people on the federal no-fly watch list, and making it harder to buy assault weapons. Connecticut is grateful for the leadership of Senators Blumenthal and Murphy and the rest of our congressional delegation who have been strong, consistent advocates for common-sense gun reform, and it’s time their colleagues step forward and join them. Enough is enough. We need Congress to pass these bills.”