Posted by Admin | October 15th, 2014

Financial services firms, such as the Blackstone Group, assist public- and private-sector companies and government agencies in managing their financial assets. Blackstone Group senior managing director, Bill Mulrow, has more than 30 years of experience in finance and investment banking. Although he is recognized nationally as one of the leading experts in his field, Mulrow has devoted a considerable amount of his time and energies to serving the public good in a number of key federal and state government positions.

During his career, the government positions Mulrow has held include service as a member of the board of directors of the Federal Home Loan Bank of New York and of the United Nations Development Corporation. He guided the Westchester County Industrial Development Agency as its chairman, and he served as the vice chairman of the Westchester County Deferred Compensation Board. When New York City needed someone with his expert knowledge of public finance, Bill Mulrow answered the call by serving as chairman of its Rent Guidelines Board and as a member of the board of directors of the Municipal Assistance Corporation of the City of New York.

When Governor Andrew Cuomo of New York wanted to address the challenges of the state’s need for low- to moderate-income housing and affordable home financing, he turned to Bill Mulrow. As chairman of the New York Housing Finance Agency and the State of New York Mortgage Agency Mulrow has applied his finance and investment banking know-how to crafting innovative programs to address the state’s needs.

SONYMA has instituted programs for New York residents who are first-time homebuyers. These programs provide low interest financing to purchase new or existing homes within the state. Special incentives are offered for people purchasing homes in targeted low income areas of the state, for purchasers of homes in need of renovations or for retired or active-duty military personnel.

The New York Housing Finance Agency addresses the state’s housing needs by assisting developers with affordable financing for projects that will create multifamily housing in low-income areas. Mulrow’s expertise in finance can be seen in some of the agency’s programs designed to encourage private developers and not-for-profit corporations to build or rehabilitate low- to moderate-income rental housing throughout New York.

HFA programs include low-cost financing for purchase and renovation of rental properties. Other programs offered by the agency include tax credits and tax incentives for developers with projects that target housing needs in predominantly low-income areas. The HFA program incentives vary depending upon the region within the state in which the housing is to be located and the housing needs within each region.