Transforming Lives, Transforming Communities

From the Chair

"Year after year, the Bank’s programs are making a significant difference by adding to the vitality of our communities while also aiding our regional economy. 2017 was no exception as the Bank’s housing programs continued the important journey of transforming lives and communities throughout our New England region."

Jeanne Cola
Chair of the Advisory Council

2017 Community Lending Plan

The Federal Home Loan Bank of Boston develops an annual Community Lending Plan to identify housing and economic development credit needs and opportunities. The plan was developed in consultation with the Advisory Council and is based on primary and secondary market research and results of the Bank’s outreach initiatives and community and housing investment programs. The programs, initiatives, and success stories outlined in this report embody the following seven community development priorities that were identified for 2017:


Finance the production of affordable rental housing for households at a variety of income levels.


Fund the preservation of affordable housing, including deed-restricted and federal- and state-supported public housing stock.


Support housing development and mortgage financing to provide affordable homeownership opportunities for first-time homebuyers and low-income families.


Address poverty and blight through investment in distressed and at-risk communities to improve neighborhood livability and sustainability.


Support strategic initiative in high-opportunity communities to improve economic mobility.


Encourage innovative initiatives that link supportive services, housing, and health care in order to improve individuals and community health.


Focus on job creation/retention, small business finance, and overall economic development to support income growth and make communities more economically resilient.

2017 Advisory Council

Not Pictured: Taylor Caswell, Marc Dohan, Barbara G. Fields and Cynthia L. Reid

Taylor Caswell
Executive Director
New Hampshire Community Development Finance Authority
Concord, New Hampshire

Michael C. Claflin
Executive Director
Affordable Housing & Education Development Inc. (AHEAD)
Littleton, New Hampshire

Jeanne Cola
2017 Chair of the Advisory Council
Executive Director
Local Initiatives Support Corporation – Providence
Providence, Rhode Island

Erin Cooperrider
Development Director
Community Housing of Maine
Portland, Maine

Marc Dohan
Executive Director
NewVue Communities
Fitchburg, MA

Barbara G. Fields
Executive Director
Rhode Island Housing
Providence, Rhode Island

John A. Hodge
Executive Director
Brunswick & Topsham Housing Authority
Brunswick, Maine

Nicholas D. Lundgren
Deputy Commissioner
Connecticut Department of Housing
Hartford, Connecticut

Christopher R. Miller
2017 Vice Chair of the Advisory Council
Managing Director, Management and Development
New Hampshire Housing Finance Authority
Bedford, New Hampshire

Seila Mosquera-Bruno
Executive Director
NeighborWorks New Horizon
New Haven, Connecticut

Mickey T. Northcutt
Chief Executive Officer
North Shore Community Development Coalition
Salem, Massachusetts

Cynthia L. Reid
Director of Development
Cathedral Square Corporation
South Burlington, Vermont

Timothy C. Sullivan
Former Executive Director
Boston, Massachusetts

Brenda M. Torpy
Chief Executive Officer
Champlain Housing Trust
Burlington, Vermont

2017 Board of Directors

Not Pictured: Jay F. Malcynsky and John W. McGeorge

Donna L. Boulanger
President and Chief Executive Officer
North Brookfield Savings Bank
North Brookfield, Massachusetts

Andrew J. Calamare (Chair)
President and Chief Executive Officer
The Co-operative Central Bank
Boston, Massachusetts

Joan Carty
President and Chief Executive Officer
Housing Development Fund
Stamford, Connecticut

Eric Chatman
Executive Vice President and Chief Financial Officer
Housing Partnership Network
Boston, Massachusetts

Patrick E. Clancy
The Clancy Company
Kennebunkport, Maine

Stephen G. Crowe (Vice Chair)
Community Engagement Officer
MountainOne Bank
North Adams, Massachusetts

Martin J. Geitz
President and Chief Executive Officer
The Simsbury Bank & Trust Company
Simsbury, Connecticut

Cornelius K. Hurley
Professor of the Practice of Banking Law, Boston University
Executive Director, Online Lending Policy Institute
Boston, Massachusetts

Antoinette C. Lazarus
Chief Compliance Officer
Landmark Partners, LLC
Simsbury, Connecticut

Jay F. Malcynsky
Managing Partner
Gaffney Bennett & Associates
New Britain, Connecticut

John W. McGeorge
Chairman of the Board
Needham Bank
Needham, Massachusetts

Emil J. Ragones
Adjunct Professor
Boston College Carroll School of Management
Chestnut Hill, Massachusetts

Gregory Shook
President and Chief Executive Officer
Essex Savings Bank
Essex, Connecticut

Stephen R. Theroux
Director & Vice President
American European Insurance Company
New London, New Hampshire

John F. Treanor
The Washington Trust Company
Westerly, Rhode Island

Michael R. Tuttle
Opportunities Credit Union
South Burlington, Vermont

John Witherspoon
President and Chief Executive Officer
Skowhegan Savings Bank
Skowhegan, Maine

2017 Management Committee

Edward A. Hjerpe III
Chief Executive Officer

George H. Collins
Executive Vice President
Chief Risk Officer

M. Susan Elliott
Executive Vice President
Chief Business Officer

Frank Nitkiewicz
Executive Vice President
Chief Financial Officer

Timothy J. Barrett
Senior Vice President

Barry F. Gale
Senior Vice President
Executive Director, Human Resources
Director, Office of Minority & Women Inclusion

Sean R. McRae
Senior Vice President
Chief Information Officer

Carol Hempfling Pratt
Senior Vice President
General Counsel
Corporate Secretary

2017 Housing and Community Investment Department

Kathleen Amonte
Housing and Community Investment Compliance Analyst

Michelle Chisholm
Housing and Community Investment Analyst

Tobi Goldberg
Senior Community Investment Manager

Mary Ellen D. Jutras
Vice President, Deputy Director

Kathy Naczas
Senior Community Investment Manager

Theo Noell
Manager of Programs and Outreach

Fatima Razzaq
Community Investment Manager 

Paulette Vass
Community Development Advance Manager

Kenneth A. Willis
First Vice President/Director of Housing and Community Investment

Theo Noell
Manager of Programs and Outreach