Community Development Resources (CDR, board of directors recently announced Farshad Maltes as its new executive director. Maltes started with CDR in December following a national search for an executive director, which CDR has not had in place since the passing of their founder Rick Wallace in 2016.

“Maltes brings a unique set of skills and abilities that will truly advantage Lincoln’s aggressive affordable housing development goals,” said Mark Hesser, CDR board chair. “He is recognized as a national expert on many of the complex financial instruments CDR seeks to incorporate into our local affordable housing development efforts, and we are lucky to bring his skills to aour community.”

Maltes has more than 30 years of experience in community development financing. He served as the president/CEO of Community Capital New York, and worked for Wisconsin Housing and Economic Development Authority. Maltes has overseen small business, commercial real estate, and affordable housing lending programs benefit low-income communities, managing portfolios as large as $575 million.

“Both Lincoln and Nebraska in general have a refreshing unified focus on solving the affordable housing challenges in our communities,” said Maltes. “There is agreement on the need for more affordable housing to support economic growth and the well-being of our neighborhoods.”

Community Development Resources is a nonprofit community development financial institution whose purpose is to provide financing for affordable housing development activities that primarily benefit low-income populations and neighborhoods. CDR was founded to provide loans and technical assistance to low income and minority individuals looking to start or grow their small business. To find out more, visit