Kenneth C. Holt Jr., a former state delegate and investment executive, was sworn in as secretary of the Maryland Department of Housing and Community Development (DHCD).
He replaces Raymond Skinner, who retired at the end of August. Clarence J. Snuggs had been serving as acting secretary.
The agency's responsibilities include administering the state's low-income housing tax credit program.
"I am pleased that Gov.(Larry) Hogan asked me to serve as secretary of an agency that plays such an important role in the economic health of our state and the well-being of its citizens," Holt said. "This agency is something of an economic wheel horse, providing tremendous benefit to the state of Maryland. Through our mortgage lending program, affordable rental housing financing and neighborhood revitalization programs, we provide very worthwhile assistance to a large part of the population."
Holt comes to DHCD after serving as chairman and CFO of Traitify, a software development firm that was recognized by Maryland's Technology Development Corp. as the "most innovative" start-up company of 2013.
As a member of the Maryland General Assembly from 1995 to 1999, Holt served on the House Appropriations Committee and on the subcommittee on education and economic development.
Holt is a past member of the Baltimore County Master Plan Advisory Committee and a past president of his neighborhood civic association.
He also worked at Morgan Stanley Smith Barney in Baltimore, where he served as branch manager, senior portfolio manager, and senior vice president, giving him a thorough understanding of bond and financing markets.
He received his bachelor's degree from the University of Maryland College Park. He and his wife, Mary, operate a family farm in Kingsville, Md. The couple has two children.