Scott Farmer has been named executive director of the North Carolina Housing Finance Agency.
Farmer is a 17-year veteran of the agency, recently serving as director of rental investment.
He replaces longtime leader Bob Kucab who retired after 30 years of service. A nationally recognized leader in affordable housing, Kucab led the agency to finance more than $14 billion in real estate activity during his tenure, supporting almost 200,000 jobs, generating $1.6 billion in tax revenue, ensuring safe, affordable housing for 231,000 people, and preventing foreclosures for another 30,000 North Carolina families.
The public agency has a mission to create affordable housing opportunities for North Carolinians whose needs are not met by the market. Its work includes allocating low-income housing tax credits to developers to build affordable housing.
“Our self-supporting agency has a long history of achievement on behalf of North Carolina’s citizens and has a proven track record of overcoming any challenges that arise in the housing industry, whether it be natural disasters or economic collapses,” Farmer said. “My goal is to build on the agency’s exceptional accomplishments and reputation to make each of the coming years even better than the last.”
Prior to joining the agency, Farmer worked in mortgage banking servicing. He serves on the board of the North Carolina Bankers Association’s Community Investment Corporation of the Carolinas and on the North Carolina Task Force on Ending Veterans Homelessness.
The appointment of Farmer follows a year-long recruitment process by the agency's board of directors.