GOV. DOUGLAS APPOINTS PELLETIER CHAIRMAN OF VHFA BOARD OF COMMISSIONERS

BURLINGTON, VT  Gov. Jim Douglas appointed Thomas N. Pelletier of Montpelier to be chairman of the Vermont Housing Finance Agency (VHFA) Board of Commissioners. The change took effect upon the Governor’s appointment Tuesday. “Tom’s been a highly-respected member of Vermont’s lending community for more than a decade and has served on our Board since May 2008,” says Executive Director Sarah Carpenter. “We welcome him as VHFA’s new Board chairman.” Pelletier has been President and Chief Executive Officer of Northfield Savings Bank in Northfield since 1998. He serves as a Director of Public Television of Vermont and Norwich University Applied Research Institutes, Ltd.; and is a member of the Community Bankers Council of the American Bankers Association. Pelletier replaces Lisa Mitiguy Randall who stepped down after nine years as Board chair. She will continue to serve on the Board for the remainder of her term. “The Agency wishes to thank Lisa for her dedication and leadership over the years,” Carpenter says. “We look forward to her continued good work as a VHFA Commissioner.” VHFA’s Board of Commissioners governs the Agency. The Board includes four ex-officio members and five members appointed by the Governor of Vermont, representing private and public lending, real estate, and housing development interests. The Vermont Legislature created VHFA in 1974 to finance and promote affordable housing opportunities for lowand moderate-income Vermonters. Since its inception, the Agency has helped approximately 26,500 Vermont households with affordable mortgages and financed the development of approximately 7,700 affordable rental units.