Bush Names SBA Administrator Steven Preston to HUD
News Title :
Bush Names SBA Administrator Steven Preston to HUD
Published In :
CLPHA Weekly Report
News Date :
April 23, 2008
Who is Steven C. Preston? That’s a question many in the affordable housing community were asking last week when President Bush named the 47-year-old administrator of the Small Business Administration (SBA) as his nominee to head HUD.
Though the Northwestern University political science graduate is virtually unknown to housers and their advocates, he is described by those who know and have worked with him as an able administrator with a hands-on approach. Others, including some key members of Congress, questioned the wisdom of the selection, noting that Preston has no experience with the broad spectrum of programs, both rental and ownership, within HUD’s jurisdiction.
President Bush, however, said Preston was the person for the job. “During his tenure at SBA, Steve has managed loan guarantee programs that are similar in structure to those run by the Federal Housing Administration, and he’s made these programs run very effectively,” said the president.
Some key members of Congress expressed concern about Preston’s lack of housing-related experience, particularly at a time when lawmakers are considering remedies to the subprime mortgage crisis. “As our nation faces the biggest housing crisis in recent history, we need a strong leader at the Department of Housing and Urban Development who is dedicated to helping people keep their homes, restoring stability and confidence in the mortgage market, and creating more affordable housing opportunities,” said Senate Banking Committee Chairman Christopher Dodd (D-CT).
“These priorities call for a leader with expertise in housing issues, yet the President’s choice has no apparent housing background, which raises questions. Nevertheless, I look forward to learning more about Mr. Preston and his qualifications for this important job at this trying time in our nation’s economy.”
Sen. Patty Murray (D-WA), chair of the appropriations subcommittee with jurisdiction over HUD, said “the next HUD Secretary will have to be ready to work aggressively with the lending community to address the housing crisis – and to end the neglect of low-income tenants and struggling homeowners.
Continued Murray, “We need quick, decisive action to address the housing crisis, not someone who is going to run out the clock on the Bush administration. In the wake of Secretary Jackson’s tenure, we need someone whose ethical standards are unassailable.”
Massachusetts Democrat Sen. John Kerry (D-MA) praised Preston. “I’ve worked with Steven Preston as the SBA Administrator for almost two years now and I’ll be sorry to see him go,” said Kerry, chairman of the Committee on Small Business and Entrepreneurship.
“Mr. Preston inherited an agency in disarray, and he’s worked hard to right its course and to improve relationships with Congress. We may have some differences on policy, but he’s always been professional, responsive, and dedicated to the mission.”
Preston, meanwhile, spent part of his day as Secretary-designate reaching out to advocacy groups, including CLPHA. “He stressed to me his desire to work with the public housing community and his belief that direct contact with stakeholders is essential to making programs function effectively,” said CLPHA executive director Sunia Zaterman following a brief phone conversation with Preston.
Meanwhile, following remarks by President Bush, Preston indicated that his role at SBA provides some framework for his prospective leadership at HUD. “I’m especially proud of the work we [SBA] are doing in innercity communities to help small business owners bring lasting change to places in our country that need it the most — by bringing jobs, by bringing economic opportunity, and by bringing investment. So I certainly hope to bring that spirit to the Department of Housing and Urban Development, to help restore stability.
