The Community Preservation Corporation Announces New Board Members

Head of Wells Fargo Multifamily Capital Alan Wiener, Related Companies’ President Bruce A. Beal, Jr., and Chemung Canal Trust Company’s President Anders M. Tomson elected as newest members of CPC’s board

New York, NY, January 8, 2012 – The Community Preservation Corporation (CPC), a leading non-profit lender for affordable housing throughout New York State, announced today the election of three new affordable housing career leaders to the CPC Board:

•    Bruce A. Beal, Jr. is President and General Partner of Related Companies, a privately-owned international real estate firm with an existing portfolio of over $15 billion of real estate across all asset classes and one of the largest affordable housing developers and investors in New York City.  Since joining the firm 17 years ago, Mr. Beal has played a pivotal role in expanding Related’s staunch commitment to affordable housing and is responsible for the day-to-day development process for projects throughout the country, the company’s existing operating portfolio of residential properties, and overseeing the new acquisitions and development for the Related Affordable division. Mr. Beal has worked with State and City agencies and non-profits to help create new, creative financial models to increase Related’s affordable and workforce housing stock and sits on the REBNY’s Executive Committee, Board of Governors and Housing Committee.

•    Anders M. Tomson is President of Capital Bank, a division of Chemung Canal Trust Company. Chemung Canal Trust Company, a subsidiary of Chemung Financial Corp, is a full-service community bank with full trust powers.  Mr. Tomson has over 20 years of experience working in New York’s housing and finance industry. Prior to joining Chemung Canal Trust Company, he served as Division Executive and Senior Vice President for Commercial Real Estate for RBS Citizens Bank in New York State. He has also served as the Regional Director of the Eastern Region Office of CPC, and Senior Vice President of Conley Realty Associates, Ltd.

•    Alan Wiener is Head of Wells Fargo Multifamily Capital. Wells Fargo Multifamily Capital specializes in government-sponsored enterprise financing through Fannie Mae and Freddie Mac programs and Federal Housing Administration-insured financing. Mr. Wiener has extensive experience in housing and community development in both the public and private sectors. He has previously served as Chairman of American Property Financing Inc., and Executive Vice President of Integrated Resources, Inc. In the public sector, Mr. Wiener served as the New York City area director for the U.S. Department of Housing and Urban Development, an assistant to the Mayor of the City of New York in housing, planning, community and economic development, and Deputy Commissioner in the city’s housing department.

“As we continue to strengthen CPC’s future, we will need the input and guidance from valued experts to help us in the next phase of the organization. Anders, Bruce, and Alan will certainly be welcome voices to guide CPC in pursuing its mission of high-quality housing for all New Yorkers. The board is pleased to welcome these distinguished new members to our team,” said Michael Hegarty, CPC Board Chairman.

“We are honored to welcome Anders, Bruce, and Alan to our board. As recognized leaders in New York real estate, their wide-ranging experience will provide CPC with unique perspective and enhance our efforts to strengthen the housing stock in communities throughout the state,” said Rafael E. Cestero, President and CEO of The Community Preservation Corporation. “I am certain that their guidance and insight will be a tremendous asset to the board as CPC looks to the future.”

Contact: Eric Bederman, VP/Communications
212-895-5300, ext. 482 [email protected]