The Northern Marianas Housing Corp. board of directors has elected a new set of officers, with Manuel A. Sablan being selected as chair.<\/p>\n
Sablan was elected with five favorable votes and one abstention. He replaces Sixto K. Igisomar, whose term as a member of the Commonwealth Development Authority expired on June 15.<\/p>\n
Marcie M. Tomokane was unanimously voted as board vice chair. She succeeds Antonio M. Borja, who will remain on the board as a member.<\/p>\n
Tomokane, the executive vice president and CNMI regional manager for Bank of Guam, also heads CDA\u2019s lending arm\u2014the Development Corporation Division.<\/p>\n
Recently elected CDA chair Tom Glenn A. Quitugua was named secreatary of the NMHC board, while reappointed CDA member Edwin M. Hofschneider was elected treasurer.<\/p>\n
The CDA board of directors recently adopted new regulation allowing all seven members of the CDA board to automatically sit on the NMHC board.<\/p>\n
Previously, the NMHC board was composed by the CDA chair and four other members he appointed from among the CDA board\u2019s seven members. The sixth member, who must be a recipient of one of the housing assistance programs administered by NMHC, was selected by the NMHC board.<\/p>\n
Meanwhile, the two other CDA board members were asked to substitute when any of the NMHC board members could not make it to any meetings.<\/p>\n
However, the new regulation increased the number of the NMHC board members from six to eight.<\/p>\n
The eighth seat remains reserved for a beneficiary of any NMHC program. <\/p>\n","protected":false},"excerpt":{"rendered":"
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