FOR IMMEDIATE RELEASE
New Co-Chief Operating Officers Plan Bright Future for Long Beach-based Nonprofit
LONG BEACH, Calif., May 24, 2011 — After surviving the height of the Great Recession, LINC Housing is positioned for growth as the nonprofit affordable housing developer moves toward the second half of 2011. As part of the plan, Suny Lay Chang and Karen Maeshima have been promoted to co-chief operating officers, while also retaining their previous roles and responsibilities.
“Suny and Karen are two of the most talented professionals with whom I’ve had the pleasure to work,” said Hunter L. Johnson, LINC’s president and CEO. “LINC’s pipeline is full of new activity and our finances are in great shape, which is quite an accomplishment given the recent economic challenges. Having two COOs moving forward will ensure LINC is operating efficiently and effectively as we continue to pursue our mission of providing housing choices for underserved populations.”
Chang, now co-chief operating officer and executive vice president of development, shares responsibility for LINC’s day-to-day business operations, cash and risk management, company policies, and overall business strategy. She heads LINC’s housing development operations including development, project financing, and construction administration for all LINC projects. She also oversees the marketing, branding and corporate development activities of the organization.
Maeshima, now co-chief operating officer and chief financial officer, oversees all aspects of accounting, asset management, resident services, and general corporate operations such as IT and human resources. Karen assists in the implementation of effective financial strategies and reports for LINC, its related affiliates, and its portfolio of affordable housing assets. She oversees LINC’s accounting operations, including budgeting, auditing and tax preparation, payroll, accounts payable and receivable, general ledger and financial reporting. Karen also oversees the pre-development and construction draw processes for housing development, as well as asset management of LINC’s portfolio of 40-plus properties including property management, financial performance, budgeting, and reporting.
Maeshima and Chang both report to Johnson. Together, they will continue to guide LINC Housing as it expands its business and moves more than 900 units of housing through the pipeline. The nonprofit is also focused on growing and refining its resident services capabilities, sustainable “green” building practices, and innovative financial structure solutions.
