We have recently completed our first full year of Asset Management, and the entire conversion process has required major adjustments in staffing, as well as day-to-day operations. We are still a work in process, however in the final analysis, I believe that the organization will be much more efficient and effective in managing the business affairs of the Authority. Asset Management also allows us to extract greater accountability by being able to identify where the weaknesses exist. We received our first AMP review under Asset Management in May 2009. Stay tuned for future updates on asset management.

As we reflect on the 75 years of the Authority, we readily embrace the current challenges that threaten the sustainability of affordable housing for low and moderate consumers in our community. The Center on Budget and Policy Priorities has released a new report, Decade of Neglect has Weakened Federal Low-Income Housing Programs. One of the key findings of the report states, Following a decade of neglect, new resources, as well as a comprehensive strategy are needed to preserve existing public and private assisted housing.

We are committed to:

* Accessing and fully utilizing any and all available funding that will allow us to improve, and in some instances, replace our aging housing stock.
* Improving the lives of our consumers through family self-sufficiency programs.
* Streamlining the process for accessing services.
* Providing good customer service in all of our operations.