President and CEO of Enterprise Community Investment Retires

By Anuradha Kher, Online News EditorColumbia, Md.–President and CEO of Enterprise Community Investment Inc., Jeffrey H. Donahue, will retire effective April 15. The company’s board of directors has appointed Charles R. Werhane, current vice chairman and chief operating officer, as Donahue’s successor. F. Barton Harvey III, the previous chairman of Enterprise Community Investment and its parent organization Enterprise Community Partners, recruited Donahue, 62 for the CEO position.Prior to becoming CEO in 2003, Donahue served on Enterprise’s board for eight years while serving as vice president and chief financial officer at The Rouse Co. “Enterprise is in excellent financial shape and is a national leader in many of its products, including Low-Income Housing Tax Credit syndication, in what has been a time of unprecedented turmoil in the financial markets,” says Donahue. Today, Enterprise manages one of the largest Low-Income Housing Tax Credit (LIHTC) portfolios in the nation, which represents $7 billion in equity, 1,600 projects and more than 94,000 housing units. Werhane, 54, is credited with starting Enterprise’s New Markets Tax Credits (NMTC) program, having generated over $515 million in investments to date. Werhane came to Enterprise six years ago and has had oversight of all debt and equity production lines at Enterprise since 2006.  “His upcoming promotion results from the strong, well-deserved support he’s received from both Enterprise boards, including board chairs Jaime Yordán and Norman Rice,” says Donahue. Donahue adds, “My plans for the future include expanding my corporate and charitable board service, but also preserving some discretionary time for outside interests plus spending more time with our grown children, who live on the West Coast.”