Steve Bancroft became the Executive Director of the Detroit Office of Foreclosure Prevention and Response in July 2008, coming from being President and CEO of Commonwealth Holdings, a subsidiary of Community Workforce Trust, which produced workforce housing development around the country. Prior to entering the private development field, Bancroft spent 36 years in the ordained ministry of the Episcopal Church, serving the last 23 of those years in downtown settings in Houston and Detroit, 14 years as the Dean of the Cathedral in Detroit. In those capacities he was involved in numerous non-profit development projects totaling in the hundreds of millions of dollars. They included the creation of Tax Incremental Refinance Zone #2 in Midtown Houston, to managing the refinancing and development of RTC housing, to low-income senior housing and redevelopment of historical buildings. He used a broad range of financing: HUD Section 202, Section8, Section 108; low-income tax credits, historic tax credits, tax-exempt bonds, public pension funds, and conventional financing. In the 1980-90s he was Chairman of Housing Opportunities of Houston, the public/private entity charged with dealing with the foreclosure crisis in Houston that helped manage the disposition of Resolution Trust Corp (RTC) housing.Bancroft is a native of Houston, Texas and a graduate of Texas A & M in history and economics and has a Masters in Divinity from Virginia Theological Seminary.
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