Blunt appoints local banker to state housing commission

Robert C. Fulp, senior executive vice president of The Signature Bank, was appointed by Gov. Matt Blunt to serve on the Missouri Housing Development Commission.
Fulp attended commissioner orientation and the commission’s regular meeting March 18 at the Harry S. Truman Building in Jefferson City and is scheduled for confirmation by Blunt in front of the Senate April 6.
“I’m very much looking forward to using my extensive banking background … on the commission,” Fulp said.
He joined Signature Bank in 2000 and has held his current position since July 2004, when Signature and The Bank merged.
Fulp’s banking experience dates back to 1975 when he worked at The Aurora Bank as a teller. Fulp graduated in 1979 with a Bachelor of Science degree in financing and banking from Southwest Missouri State University, and he attended the American Bankers Association National Commercial Lending School-University of Oklahoma in 1986.
The Missouri Housing Development Commission comprises 10 members.
“We have some commissioners who have been commissioners for some time and will continue, plus four constitutional officers – the governor, the lieutenant governor, the state treasurer and the attorney general are also members of the board by virtue of their offices,” said Erica Dobreff, executive director of the Missouri Housing Development Commission, from her Kansas City office.
The Missouri Housing Development Commission, established by the 75th General Assembly in 1969, acts as a bank, providing financing directly to borrowers. It does not build or renovate housing. It has invested almost $4 billion in Missouri housing since its inception, including rental housing developments, home mortgages, home improvement loans, loans to landlords for renovations and grants to neighborhood groups.
Dobreff said the commission is responsible for allocating low-income housing tax credits; administering the federal HOME program, a block grant for housing provided by the Federal Department of Housing and Urban Development; the administration of the Missouri Housing Trust Fund; and issuing mortgage revenue bonds to provide mortgage funds for first-time home buyers.
“We issue approximately $200 million to $250 million in bonds for first-time home buyers every year,” Dobreff said of the First Place loan program.
In 2004, 2,800 families received First Place loans.
“It’s very important for our state to continue to provide this type of housing,” Fulp said.
City Manager Tom Finnie, who played a part in Fulp’s recommendation, said Fulp would be an asset to the commission.
“It’s an important statewide commission, and Rob brings not only a lot of expertise to the commission but also a lot of knowledge about our region and our community,” he said. “I think he’ll be a positive voice for southwest Missouri and Springfield, but (he’s) also a very knowledgeable person about housing needs throughout the state.”
Mark Gardner supported Fulp by writing a letter of recommendation to Blunt. But he feels that letters written by himself, Finnie and others, had “minimal weight to our efforts on behalf of Rob. Rob got the position because Rob is incredibly qualified.” Fulp’s banking background, he said, is critical for understanding how the program operates and how it’s administered.
Gardner has received tax credits through the Missouri Housing Development Program on approximately 20 projects since 1997, including Walnut Street Apartments, a $5 million rehabilitation project on four buildings near downtown Springfield. Gardner co-owns the project, at 700, 708, 716 and 720 E. Walnut St., with Springfield Mayor Tom Carlson through their company, Carlson Gardner Properties Inc.