Thursday, January 16, 2014

NY Empire State Development Corp Chief Financial Officer Frances Walton To Be Appointed CFO Of Roosevelt Island Operating Corp - Subject To Approval At January 23 Board Of Directors Meeting

As reported Monday, January 13:

The Roosevelt Island Operating Corp (RIOC) has been without a Chief Financial Officer (CFO) since September 2013. Later today, the RIOC Board Of Directors Audit Committee will meet to discuss the position of CFO in executive session which is closed to the public.
It appears RIOC has found a new CFO subject to approval by the full RIOC Board Of Directors. According to Item 1 of the January 23 RIOC Board Of Directors Meeting Agenda:
...1- Appointment of Frances Walton to the Position of Chief Financial Officer and Vice President for Financial Affairs of the Corporation (Board Action Required)...
Ms. Walton is currently the CFO of the NY Empire State Development Corp (ESDC). According to the ESDC:
Frances Walton is the Chief Financial and Administrative Officer of Empire State Development (ESD). She has almost 30 years of experience in public administration and the financial services industry. Her broad range of expertise includes strategic planning, capital financing, debt management, credit enhancement, asset management, real estate and capital project analysis, budgeting, cash management, banking, treasury operations, administration, human resources management and management information services.

Since 1997, Frances has directed all financial functions including financing and debt issuance on behalf of the Corporation, its subsidiaries, Job Development Authority, and LDCs aggregating approximately $10 billion. She directs the Treasury function, Controller/Accounting, Portfolio Management, Contract Administration and Subsidiary Finance, Loans and Grants, Real Estate & Project Finance programs...
Ms. Walton's full bio is here.

On January 9 Susan Arbetter of WCNY's Capital Pressroom tweeted:
Ms. Walton was also the President of the Brooklyn Arena Local Development Corp (BALDC), a NY State entity formed to issue bonds for the Forest City Ratner Atlantic Yards (Barclay Arena) project.

Image Of Ms. Walton (on right) Being Interviewed About BALDC From Atlantic Yards Report

Forest City Ratner is the Master Developer for the Cornell NYC Tech Roosevelt Island campus.