After a hiring process spanning eight months of interviews and investigation, Wilmington Housing Authority announced June 9 Katrina Redmon as the next CEO.
Unlike previous years, the authority handled the hiring process in house instead of turning to outside agencies. Jeff Hovis, chairman of the authority’s board of directors, said the process was demanding for the board but he is pleased with the ultimate result.
The job listing drew 151 applications and resumes, including applicants from the Netherlands, Puerto Rico and the British Virgin Islands. Hovis said Redmon’s experience in the public and private sector made her stand out.
“She has working knowledge of existing HUD and public housing … but she also has private industry experience and a proven track record,” Hovis said during a June 9 phone interview.
Redmon is vice-president and chief development officer of the Housing Authority of Winston-Salem. She worked as a real estate broker and housing development finance professional before joining the authority in 2006, including a position in which she helped a company double its revenue from $20 million to $45 million in four years.
Hovis said the board hopes Redmon’s experience will enable her to secure private investments to fund expansion of the region’s affordable housing — by offering more Section 8 choice vouchers and developing mixed-income neighborhoods, for example.
“Housing authorities cannot think they can exist on government subsidies going forward. The mission is to provide affordable housing throughout the area but it just can’t be done with federal dollars. You have to find ways to implement private investment into it,” Hovis said.
The authority offered Redmon a higher salary than the one afforded to former CEO Michael Krause due to the higher expectations.
“She’s being compensated well and we’re expecting a major return on that compensation,” Hovis said. “It’s going to take some time for one person to turn it around but we do see there being a way of bringing income into the area so we can elevate affordable housing supply because there’s a great demand.”
The board approved and signed a three-year contract for Redmon on June 9, establishing a $167,000 base salary.
Krause was fired in September 2013 following an arrest for his second DWI charge during his five-year tenure as CEO.
Hovis said the board plans to work closely with Redmon to shape and assess the authority’s development.
“The board has to understand they are accountable for the performance of the CEO, so the board will be very involved in monitoring progress and expecting results,” Hovis said.
Redmon will assume her duties on Aug. 4.
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