Leading Community Investment Company Announces New Chief Financial Officer
Columbia, Md. (May 23, 2007) – Enterprise Community Investment, Inc., a national leader in affordable housing finance and community investment, announced today the appointment of Craig Mellendick to the position of chief financial officer. As CFO, Mr. Mellendick succeeds Randy Lott, who after serving as chief financial officer for five years is leaving to develop a consulting business.
“Craig Mellendick brings financial knowledge and expertise as well as leadership skills to his position as CFO,” said Holly Stagmer, executive vice president, Finance, Credit and Asset Management. “We’re thrilled by his appointment which will help Enterprise provide the best service to our partners,” she said.
Mellendick previously served as controller of both the syndication and asset management lines of business, and most recently as the director of finance.
In his new role, Mr. Mellendick oversees the company's finance operations, which includes treasury, corporate accounting and financial reporting functions, in addition to oversight of partnership accounting operations for more than 100 tax credit investment funds.
Mr. Mellendick also plays a key role in long-term business planning, developing corporate goals and assessing capital needs across Enterprise.
Mr. Mellendick has over 15 years of experience in the financial and accounting fields. Prior to joining Enterprise in 2005, he was a vice president of financial services with General Growth Properties and held several, progressively more responsible, accounting and finance positions with The Rouse Company. He has also performed audit and consulting services for one of the nation's largest accounting firms, KPMG.
Mr. Mellendick holds a bachelor of business administration degree with a concentration in accounting from Loyola College in Maryland and graduated summa cum laude. He is a certified public accountant and an active member on the Affordable Housing Tax Credit Coalition Accounting Committee.
“I’ve known Craig from his years at The Rouse Company. He is very knowledgeable in real estate finance and shares a deep commitment to Enterprise’s mission. We look forward to his contributions as CFO,” said Jeffrey Donahue, president and CEO of Enterprise Community Investment, Inc.
For biographical information on the new officers, please go to http://www.enterprisecommunity.com/about/management_team.asp.
Enterprise Community Investment, Inc. (Enterprise) is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits, short- and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. Over the last 25 years, Enterprise has privately raised more than $7 billion to finance more than 200,000 affordable rental and for-sale homes, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of nearly $1 billion a year. Visit www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.
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