Press Release  Healey-Driscoll Administration and CEDAC Announce Selection of New CEDAC Executive Director

Boston — The Community Economic Development Assistance Corporation (CEDAC) and the Massachusetts Executive Office of Housing and Livable Communities (EOHLC) today announced the selection of affordable housing and housing finance expert, Ethan Handelman, as CEDAC’s new executive director, effective June 1. Handelman will replace CEDAC’s current executive director, Roger Herzog, who will retire this spring.

CEDAC's Board of Directors partnered with global executive search firm, DSG Koya, to conduct a robust national search that included input from many important partners and stakeholders in the affordable housing community and the community economic development sector. From a pool of outstanding candidates, Handelman was the unanimous choice of the search committee and CEDAC Board of Directors.

"CEDAC is entering a new era of leadership at a time when the Healey-Driscoll Administration is doubling down on its commitment to making housing more affordable and accessible to all through a multifront strategy that includes the Affordable Homes Act, implementation of the MBTA Communities Law and the state's first comprehensive housing plan,” said Ed Augustus, Secretary of Housing and Livable Communities. “Roger Herzog has accomplished so much during his 16-year tenure as Executive Director of CEDAC, enabling community-based organizations to create affordable housing with access to financing and other technical support. With more than two decades of housing experience, Ethan Handelman is the ideal leader to carry that legacy forward and build upon CEDAC’s long history.”

As the new executive director of CEDAC, Handelman will lead the organization, including its affiliate, the Children’s Investment Fund (CIF), through its next phase of growth and development as it continues to provide project financing and technical expertise for community-based and other nonprofit organizations engaged in effective community development in Massachusetts. He will also oversee CEDAC’s work as an underwriting agent for EOHLC for multiple state bond programs that finance the production and preservation of supportive housing for vulnerable populations.

“Massachusetts is uniquely fortunate to have an organization like CEDAC that provides robust early-stage financing support that can be accessed by virtually any community development corporation across the Commonwealth,” said Ethan Handelman, CEDAC’s newly selected Executive Director. “It’s a great honor to be selected for this role leading such a remarkable team and entrusted with carrying on Roger’s tremendous work.”

Handelman has been a long-time leader in affordable housing and housing finance in the public and private sectors. Most recently, he served as the Deputy Assistant Secretary for the Office of Multifamily Housing Programs at the U.S. Department of Housing and Urban Development (HUD), a position he was appointed to by President Biden in February 2021. In this role, Handelman led the creation and deployment of HUD’s Green and Resilient Retrofits Program, a $1 billion initiative to make HUD-assisted Multifamily properties more energy efficient, safer for residents, and healthier to live in. Under his leadership, HUD Multifamily expanded its staff, invested in training, created opportunities for a diverse workforce, and fostered a commitment to the affordable housing mission. Handelman also led the many policy improvements to expand the supply of affordable housing and preserve existing affordable properties nationwide.

Prior to joining HUD, Handelman was a Senior Policy Analyst at the Federal Housing Finance Agency (FHFA) in the Office of Housing and Community Investment, which oversees the affordable housing mission activities of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Before FHFA, he spent seven years as Vice President for Policy and Advocacy at the National Housing Conference (NHC), finishing his time as Acting CEO. Handelman also previously led the advisory practice at Massachusetts-based Recap Real Estate Advisors, assisting public and private-sector clients to understand and shape the affordable housing financial and policy environment. He holds a Master of Arts in International Relations from Harvard University and a Bachelor of Arts in Political Science from University of Michigan.

“I’m delighted that the CEDAC Board has chosen Ethan as the agency’s next Executive Director,” said Roger Herzog, CEDAC’s current Executive Director, whose career at the organization spans more than 25 years. “His impressive career history with HUD and FHFA, as well as with the National Housing Conference and other organizations, assures that CEDAC will remain well positioned as a crucial housing finance resource into the future.”

CEDAC was formed as a quasi-public agency in 1978 under Chapter 40H of the Massachusetts General Laws to assist nonprofit organizations engaged in community economic development. CEDAC is governed by a nine-member board of directors. Eight members are public- and private-sector housing and community development finance professionals appointed by the Governor. The state’s Secretary of the Executive Office of Housing and Livable Communities (EOHLC), or their designee, serves as the board chair.

About CEDAC

CEDAC is a public-private community development financial institution that provides project financing and technical expertise for community-based and other non-profit organizations engaged in effective community development in Massachusetts. CEDAC’s work supports two key building blocks of community development: affordable housing and early care and education.  CEDAC is also active in state and national housing preservation policy research and development and is widely recognized as a leader in the non-profit community development industry. For additional information on CEDAC and its current projects, please visit www.cedac.org.

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