We are pleased to present to you the Annual Report for the Wyoming Community Development Authority WCDA. Consistent with our approach from last year and in an attempt to provide more electronic communication our annual audited nancial statements for the period ending June 30 2015 are on our web site - www.wyomingcda. com. This allows those who have an interest in our nancial performance to see the signicant details. By utilizing our web site you can also see a complete list of the many programs for housing that we provide throughout the State including our semi- annual demographic study. In the last year we again demonstrated both nancial integrity and creativity by surviving the largest housing downturn in the countrys history since the Great Depression. Weve continued to meet our mission of providing affordable housing to the State of Wyoming while maintaining protability during a period of signicantly reduced resources. In the past year we purchased 846 loans and invested 136334611 million in new rst time homebuyer loans. The average loan amount was 162754 while the average income of those borrowers was 51302. The average age of our rst-time homebuyer was 31 years old and 39.5 of our borrowers were married. This continues to be indicative of the changing demographics of Wyomings population particularly within our market niche. Additionally the homebuyer education required by WCDA and others in the industry have made a signicant difference for our borrowers as they better understand the responsibilities of homeownership. In late 2009 federal relief was provided to the housing nance industry based upon the reality that the HFAs underwrote their mortgages in a more conservative fashion and were experiencing much better performance than the overall housing market despite their attention being focused on low down payment rst-time homeownership. Justication for the support was the belief that until the rst time homeowner tier was stabilized it would be very difcult to stabilize the remainder of the market. By utilizing the HOME Investment Partnerships Program and the Low Income Housing Tax Credits funding was approved during calendar year 2014 for an additional 203 new units of affordable rental housing. The combined investment in those programs represented more than 26.8 million invested in housing throughout Wyoming. The Neighborhood Stabilization Program NSP and HOME program also allowed WCDA to purchase foreclosed or abandoned homes rehabilitate those houses and resell them to rst- time homebuyers. Through scal year 2015 we have acquired and rehabilitated 95 foreclosed homes expending almost 19.1 MM. In addition the program allowed for the creation of 44 multifamily units providing 7772296 in NSP funding. Thanks to the implementation of a quality strategic planning process over the last seven years strategies were formulated to identify and manage areas of risk within the institution while ensuring the accomplishment of its mission and still maintain its nancial integrity. Each line of business has also completed its own strategic plan thereby establishing larger goals for departments and then translating those goals into customer value statements and more practical operating budgets. Those plans were then amalgamated into an annual program plan for the year 2015 2016 and approved by the Board of Directors in July of 2015. Delinquency continues to be troublesome but at levels far below what exists elsewhere in the country. There continues to be a gap between wages and the cost of maintaining ones household however affordability is at one of its all-time highs due to extraordinarily low interest rates. The efforts of an engaged and active Board of Directors strong management dedicated staff and a terric professional team have positioned the WCDA for the future. Despite the challenges performance continues to be solid. We have been able to maintain the nancial integrity of the Authority while continuing to meet the mission originally envisioned by the Legislature.