The District of Columbia Housing finance Agency Board of Directors (Board) is a five member board nominated by the Mayor and confirmed by the City Council. Per the Agency’s statute, two Board members must be from the mortgage lending or finance industries; two members must be from the home building, real estate, architecture, or planning community; and one member must serve the community or consumer interests.
The members serve either a one or two year term at the discretion of the appointing Authority. The primary role of the Board is to approve the issuance of tax-exempt/taxable bond transactions for the development of affordable homeownership and rental opportunities. It is through the executive and senior staff whereby programs and initiatives are managed and implemented. All is done in accordance with the Board’s guidance and direction.
Current Board Members
Michael L. Wheet, Chairman
Currently serving as Managing Director with Frasca and Associates, a leading independent financial advisor primarily to transportation clients, Michael L. Wheet has more than 22 years of experience in the area of public finance. Mr. Wheet has participated as issuer, lawyer, financial advisor and investment banker, in the issuance of over $10 billion of bonds during his career. Before joining Frasca and Associates, Mr. Wheet's vast array of experience includes: 4 years as Managing Director in the Public Finance Department of Merrill Lynch & Co; 11 years as Director in the Public Finance Department of Citigroup Global Markets Inc, a New York based investment bank, formerly named Salomon Smith Barney; and several years as a Vice President with Lazard Freres and Co. where he was responsible for a numerous amount of that firm's financial advisory clients, including the District of Columbia and the Metropolitan Washington Airports Authority.
Prior to becoming an investment banker, Mr. Wheet was a lawyer and local government official in the District. During the period from 1981-1986, he was employed in the Office of the Deputy Mayor for Finance, where he worked on the District's reentry into the capital markets through the first sale of bonds by the city in the twentieth century. During his employment with the District, he was responsible for overseeing the issuance of over $1 billion of general obligation and revenue bonds by the District. He has also been employed as an attorney by two national law firms engaged in the practice of municipal finance and state and local government law from 1979-1981 and from 1986-1988.
Mr. Wheet received his Juris Doctorate degree from the University of Pennsylvania Law School in 1979 and his A.B. degree from Harvard University in 1976.
Jacque D. Patterson, Vice Chairman
As Project Director with the Federal City Council, Mr. Jacque D. Patterson focuses on affordable housing, libraries, government operations, education and public safety issues confronting the District of Columbia government. Before joining the Federal City Council in this capacity, he served in the District of Columbia Executive Office of the Mayor's Office of Community Affairs as the Community Affairs Coordinator. Mr. Patterson's career in public service began when he was selected for the Capital City Fellows' Program. His assignments during the Fellowship were with the Deputy Chief Finance Officer, Office of Tax & Revenue and the DC Brownfields' Program. He also served as a Policy Analyst in the Office of Policy, Planning, and Program Evaluation for the DC Department of Health.
In 2006, Mr. Patterson was selected as a Fannie Mae Fellow to receive additional housing policy training while attending the Harvard University John F. Kennedy School of Government's Senior Executives in State & Local Governments Program. Mr. Patterson received his Masters of Public Administration from Central Michigan University and a graduate certification as a Certified Public Manager from the George Washington University. He holds an undergraduate degree in Education from Southern Illinois University and is currently pursuing a doctorate at Northeastern University in Law & Policy. He brings to the DC Housing Finance Agency Board of Directors a deep knowledge of urban affairs, public policy, government operations and finance.
Buwa Binitie
Mr. Buwa Binitie has more than 7 years of experience in real estate development and advisory services. He is instrumental in assessing development opportunities, managing development teams, as well as planning and underwriting budgets for development projects. Mr. Binitie's development experience also extends to the creation and preservation of affordable housing. In his most recent position, Mr. Binitie administered and managed the implementation of the New Communities Initiative for the Mayor of the District of Columbia.
The New Communities Initiative is a billion dollar comprehensive partnership designed to improve the quality of life for families and individuals living in distressed neighborhoods in Washington, DC. The New Communities Initiative will fight these conditions by transforming highly concentrated low-income neighborhoods into healthy mixed-income communities.
Prior to serving the District, Mr. Binitie consulted with The Neighborhood Development Company to build a $27MM, 100% affordable 72 unit apartment building along Georgia Ave, NW. Mr. Binitie has also been engaged by owners and tenant associations alike to guide them through the D.C Tenant's Rights Act which enables renters to acquire their units at below market rates. Mr. Binitie previously served as the Director of Quality Control and Client Relations at Real Estate Resource Group ("RRG") where he realized over $5 million in savings for Fortune 1000 clients during his first two years. At RRG, he was primarily responsible for managing the strategic and logistic aspect of every lease audit campaign.
In addition to the above, Mr. Binitie serves on the Board of Capital City Charter School. Mr. Binitie received a B.S. from New York University and is a graduate of Johns Hopkins University's Master in Real Estate Development Program.
Derek Ford
Mr. Derek Ford is currently a Consultant, with more than 14 years of progressive financial experience within the private, governmental and non-profit sectors. He has served in the positions of Chief Financial Officer (CFO), Treasurer, Senior Auditor, Tax Associate, Financial Analyst and Real Estate Agent. Previously Mr. Ford managed the finances of a local community development organization, and provided financial and compliance oversight of the District of Columbia governmental operations on behalf of the DC Office of the Inspector General. During that time, he identified over $150 million of unsubstantiated monetary benefits from the implementation of procurement, payroll, property, personnel and budget systems.
His additional experience includes performing financial statement audits and consulting to numerous federal government departments and agencies in accordance with the CFO Audit Act of 1990. Mr. Ford was also an accountant and finance associate with Charles E. Smith, where he provided financial expertise to the commercial and residential sections of the organization.
As a Ward 7 resident of the District of Columbia, he served as Campaign Treasurer for both the Committee to Elect and Re-Elect, Ward 7 Councilmember Yvette Alexander (D). Also, Mr. Ford serves as Treasurer for the Ward 7 Democrats. Mr. Ford received a B.S. in Accounting from North Carolina A&T State University in 1996 and was a member of the US Army Reserves for 8 years.
Leila Batties
Leila Batties is a partner in the real estate section at the law firm of Holland & Knight; her practice focus is land use and zoning. In this capacity, she represents property owners, developers and investors in all aspects of the real estate development approval process. Ms. Batties works with governmental agencies and regularly appears before governmental boards in order to secure comprehensive plan amendments, rezonings, site plan approvals and legislation in support of residential, commercial, industrial and institutional projects. She regularly works with public agencies on a range of development-related matters, including, but not limited to, schools, roadways and other infrastructure; negotiates and drafts land development agreements; conducts land use and zoning due diligence; and prepares zoning opinion letters.
Ms. Batties is admitted to practice law in the District of Columbia and Florida. She graduated cum laude from the University of Miami School of Law. She holds a B.A. in Mass Communications from the University of California at Berkeley, and an M.A. in Communications from the University of Miami.