michael liu
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SENIOR VICE PRESIDENT |
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Michael comes to Dutko Worldwide after serving as U.S. Housing and Urban Development Assistant Secretary for Public and Indian Housing (2001 through April 2005). He leads Dutko’s housing and community development practice and provides consulting on affordable housing and strategic advice on related policies.
Notable achievements during Michael’s tenure at HUD include successful implementation of the Section 8 Homeownership Program, from a starting point of “zero” to over 4,300 new homeowners; a $1 billion reduction in subsidy overpayments in federal rental housing programs; doubling production in the Native American Section 184 guarantee loan program; led HUD in negotiations on the new real cost/asset based approach to formulating public housing operating budgets; and development of the Public Housing Capital Fund Financing Program, bringing in over $2.4 billion in private sector investment into public housing. Michael also is proud that under his tenure the first housing grant and guaranteed loan programs for Native Hawaiians were implemented. Michael worked in close cooperation with the Department of Hawaiian Home Lands under the prior and current state administrations to ensure timely funding and utilization of these resources.
Michael as Assistant Secretary took an unprecedented hands-on role on major redevelopment activities in Puerto Rico, New Orleans and Chicago. Under his leadership the three housing authorities successfully reformed and put back on track housing redevelopment programs, inclusive of long stalled HOPE VI projects. They also made historic use of the public housing capital fund financing program that allowed the leveraging of HUD subsidy to support close to $1 billion in bonds for these three entities.
The Office of Public and Indian Housing accounts for almost two-thirds of HUD’s $30 billion annual budget and has a national work force of approximately 1,600 employees spread out over 30 offices across the country.
Michael has a strong background in agriculture finance and rural development through prior federal service as Deputy Under and Assistant Secretary for Agriculture from 1991-1993. He had day-to-day management responsibility for the federal rural credit agencies (Farmers Home Administration, Rural Electrification Administration, and Federal Crop Insurance) with an FTE count at that time of over 10,000.
As a former vice-president for Bank of America (1993-1998) and Sr. Vice-President and Managing Committee Member with the Federal Home Loan Bank of Chicago (1999-2001), Michael is experienced in the financial services
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Michael Liu in the news:
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Dutko Worldwide Expands its Housing Practice with Addition of Michael Liu
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