PROVIDENCE – The first time that ConvergenceRI met with Barbara Fields in her office, it was more than two decades ago, in 1992, when she was the executive director of the newly opened office of the Local Initiatives Support Corporation in Rhode Island.

Her office in the United Way building in Wayland Square contained colorful dinosaur toys [not Barney], toys that the reporter’s two-year-old son demanded to play with every time he visited his father at work.

Now, more than two decades later, Fields is the newly appointed executive director of Rhode Island Housing, the state’s housing agency that pumped some $375 million in the Rhode Island economy last year.

Fields’ office on the third floor of the agency’s building on Washington Street contained no toys but instead, a bouquet of flowers from employees congratulating her on the appointment. Her son is now the starting quarterback at a local high school; her daughter a stalwart on the high school basketball team.

What a long, strange trip it’s been.

For Fields, the new job comes with the baggage left from her predecessor, Richard Godfrey. But Fields chose to take a long view, saying that Godfrey had served the agency for 20 years and had built a solid financial framework that she had inherited.

Fields also pointed to the fact that RI Housing had done some $170 million in business with HUD in 2014, and she expected that her CFO, who was just announced the winner of an financial management award by the Providence Business News, would work out any necessary protocols with the federal agency.

Fields also said she gladly accepted a role as a member of Gov. Gina Raimondo’s economic development team, meeting weekly with Stefan Pryor, the director of the R.I. Commerce Corporation.

Fields sees the work intertwined: job creation and housing. “We are building a bridge to the middle class,” she said.

Here is an in-depth interview with Fields, one of a number of interviews she undertook with news media to begin to tell a new story about RI Housing, looking toward the future.

ConvergenceRI: How do you see the way that housing fits in with economic opportunity and the health of the neighborhood, the community and the state? How would you define your agency’s role?
FIELDS: First of all, I am honored to be asked to do this work.

I was asked by the board chair of Rhode Island Housing to serve on an interim basis. I then went through the hiring process and was selected.

During my interim [term], I have come to understand what terrific leadership we have within the agency.

This morning, [it was announced that] Providence Business News chose our chief financial officer as CFO of the year in the quasi-public category. We’re really proud of that, and proud of her and the work that she does; it’s exemplary of the kind of staff we have here.

Some of whom I’ve known, and some of whom I didn’t know before, as I have been in and out of the Rhode Island Housing world for the better part of two decades.

I am excited to take [the position] on and to have an opportunity, because of the Governor’s focus on jobs, to become part of her economic development team.

I took on this [job] with the understanding that housing is a vital component of her effort to drive gown and to create jobs. As you create more jobs, people have to live somewhere.

We have, as our main mission, helping people to buy homes, to rent homes, to stay in their homes, to get into the middle class, to stay in the middle class, and to have an opportunity to provide a decent home for their family.

More importantly, I think, is the fact that we put $375 million into the state’s economy last year. Some of that [was used to] align with transit-oriented development, and where people can have greater access to recreation and commerce in their communities.

One great example, and to be honest, I haven’t seen this project yet, is a new development called North Cove Landing in North Kingstown, where we helped to create 34 rental homes. I understand that it’s by a bike path, with easy access to some stores in the community.

I also think that [our work] is part of growing the economy of the urban communities, creating jobs, whether we’re building or renovating.

If you have an affordable [place to live] for your family’s home, that means you have more money to buy groceries or school supplies for your kids.

All of the work that is starting to be done now with these Health Equity Zones; we have an opportunity to align with them.

ConvergenceRI: That sounds very similar to the campaign slogan I helped to develop a long time ago, something like: prosperity begins at the front door of your own home.
FIELDS: It was: “The road to economic opportunity begins at your front door.” The Housing Network took that on for while; I loved that. I know it came from you. I thought it was great.

And, I don’t think we stop there. Housing is the starting point; it’s the foundation for families, and how it connects to the broader opportunities.

I am interested in that, and this governor is talking about that.

I meet weekly with Stefan Pryor, the secretary of Commerce, and his team, which is Labor and Training, Business Regulation, Planning, the Community Development Block Grant money, and we’re starting to work together as a team, to drive her agenda.

Which has, obviously, with a tremendous focus on jobs, in which we think we play a part. As jobs grow, people need a place to live.

ConvergenceRI: How do you see RI Housing interacting within the broader framework of communities and neighborhoods, such as the Health Equity Zone that LISC is involved with in Central Falls and Pawtucket?
FIELDS: There is a housing piece to it, and we hope to be able to be supportive of that. Obviously, I’m committed to working with LISC, which has been a huge partner with RI Housing, but also with Mayor Diossa in Central Falls and Mayor Grebien in Pawtucket.

That’s certainly a component of our work; what I like about the [Health Equity Zone] in Pawtucket and Central Falls is that it involves both rental and home ownership.

We serve families from zero to $100,000 a year [in income]. And that’s something many people don’t know much about.

My first focus, Richard, is making sure that we’re doing what our core mission is, which is housing. The $375 million we put into the state’s economy in 2014 is significant.

We are working closely with HUD, we work closely with the banks, and the mortgage banks.

Last year, looking at some of the numbers on the home ownership side, we increased our volume almost three-fold. The demand is now on the home ownership side in Rhode Island.

We also dropped the percentage of the business that we were originating. Which means that bankers are now originating nearly 60 percent of the loans that we buy and provide liquidity for. That’s the core of our business.

We still have opportunities [to broaden that scope]. I met yesterday with the Housing Network in the nonprofit sector.

But, in my first three months, [my goal is to] get my hands around the business and to begin to re-engage with some of our partners.

ConvergenceRI: There was a tinge of scandal that colored your predecessor and with the way that things were run at the agency. Do you feel that you have to repair the reputation of Rhode Island Housing? Or, at least to tell the story differently to rebuild that sense of trust?
FIELDS: First and foremost, Richard Godfrey served Rhode Island Housing for two decades and left this agency with a solid foundation. And, I get to build on that solid foundation.

Second, when it comes to HUD, we have a really strong partnership. We did $170 million worth of business with HUD last year. So, if they have any administrative concerns, I’m going to work with my now award-winning CFO to fine-tune our policies and procedures.

That is already underway, and we are engaged with HUD in solidifying the relationship so that we can move forward and do more business with them.

ConvergenceRI: Do you intend to be more of a public persona, more visible in the community, and participate more in community conversations?
FIELDS: Yes, my role as the CEO of the agency is to engage with the Legislature, to engage with the bankers, the mortgage bankers, the Realtors, the for-profit developers, the nonprofit developers. They all have been coming to me, and we have been going out to them as well, and we’ve been engaging in different discussions about opportunities to do even more.

We’re really proud of the tripling of our home ownership volume.

That signifies a growing relationship with mortgage bankers and with Realtors, whom I’m having breakfast with tomorrow morning, to thank them for that.

There are always things that need to be fine-tuned. But again, I go back to the solid foundation that I inherited; the fact that we continue to be a bridge to the middle class.

If you pay an affordable rent, as defined by your family, then you have more money to spend on the things you need and contribute to the economy – as well as all the jobs that get created by renovation and new construction.

ConvergenceRI: Have you have any interaction with the Green & Healthy Homes Initiative in Rhode Island, and the state’s organizer, Betsy Stubblefield Loucks? Have you heard about the proposal to make green and health homes a potential health benefit for city workers, as a way to invest in bringing properties up to code?
FIELDS: I don’t know about that particular initiative. But, I am interested in the press conference held by the Governor and Treasurer Seth Magaziner and their plans to take the Clean Water Agency and turn it into a broader infrastructure bank.

We believe that we will have several opportunities as the state housing finance agency to work together with them in expanding opportunities to bring “green” into our state. And, I say that broadly; we already do loans with that agency around clean water.

ConvergenceRI: When you say green, is that solar and renewable energy? Is that about bringing rental properties up to code to help to prevent asthma, which is the leading health cause of chronic absenteeism?
FIELDS: I would say yes; I don’t think it’s an either-or situation. I think we will explore all avenues. Secondly, I think what you know about me is that I really believe in learning from best practices. In Massachusetts, they are a little bit ahead of us in looking at these issues.

So, I’m keeping my ear to the ground, to see how they are working on this issue, with the potential to do even more opportunities in these areas, particularly on the rental side, and the conditions around homes, and the mildew and the asthma connection, and rehabilitation.

Just this morning, it was announced in the newspaper that we are financing the renovation of Charles Place. I think that’s an incredible opportunity to take 200 units that have not been renovated [since they were built]. And, not only modernize them in terms of appliances, but look at their HVAC systems. We’re excited that Citibank is coming to work on that with us.

At this point, while I’m new, everything is open for discussion.

ConvergenceRI: I know that you are, as you say, a voracious learner. I helped arrange for you to participate on a panel in Holyoke about innovation and entrepreneurship, tying that together with housing.
FIELDS: That led to a lot of really great stuff, thank you.

ConvergenceRI: My question is one about the connection between housing, the innovation economy, and the community – and whether or not that fits together the new stadium proposal. I walked out on the former Route 195 land today with James Skeffington, and heard his pitch. But I came away, thinking, what if the $60 million or $70 million was invested in affordable, mixed use housing, in the convergence to make the downtown a more affordable place to live? I don’t see the stadium as a catalyst for the economy the way affordable housing would be.
FIELDS: No comment. [Laughing] That’s way above my pay grade.

In terms of downtown living, we believe that there is a need to increase the supply of housing at all price points in the state of Rhode Island.

Using the data, I’ve seen the data, RI Housing fits in a niche around the middle class.

And, we will look at opportunities to provide that housing, whether it stand-alone or whether it’s part of a mixed-income development.

We’re going to look broadly at opportunities to align with the Governor’s agend to create jobs and to add to the growth.

We’re looking at a potential development in Burrilville right now, it’s under review, half-a-mile from the Daniele factory. This is new housing, and it’s got room for a community center and a health center.

I already have reached out to several people that they’re working with, [including] a health center that is aligned with this way of thinking, to [ensure] that these connections get made.

[It connects] housing, a health center, jobs, RIPTA, with access to bus service, and it’s not urban. I think it’s an interesting thing to look at the opportunities that exist in this state in a lot of different environments.

Affordable housing comes in a variety of shapes and sizes. And, you’re right, it’s my job to get out there and talk about that, and to show that whether it’s a senior high rise, or the single family home, or the rental development in North Kingstown, we want to be able to show people the variety of situations. It’s not a one-size-fits-all for housing.

ConvergenceRI: At LISC, one of the things you were involved with was development that would bring commercial grocery stores into communities that were either food swamps or food deserts, or both. Or, in supporting the development of affordable day care.
FIELDS: You know that I have a strong interest in that, but first and foremost, in my startup time, I’m focused on the mission of the agency, which is, again, providing housing for those in the middle class, to get into the middle class, to stay in the middle class, and the opportunity to rent or own.

We also help people who are struggling with their home, and to help them stay in their home. Our goal is to align with the governor’s agenda, and to make further investments in communities that really allow us to give people a better quality of life.

First and foremost, we’re going to focus on our core mission, because that gives us the opportunity to do more, and to go deeper in certain places.

ConvergenceRI: Do you feel you have the support of the real estate community in Rhode Island? Are they behind you?
FIELDS: I assume so; I hope so. As I said, in the next month, we’re having breakfast with the Realtors, we’re having breakfast with the mortgage bankers, and I am bringing in developers to meet with me as well.

In what I am calling this startup phase, I am trying to do outreach to different constituencies, to hear, and to listen, to see what it is that they need in order to do more for Rhode Island.

That is part of the Governor’s agenda. She has a bill, called Rebuild Rhode Island, which is working on trying to get more construction done in the state. It has a residential component as well as looking at everything from commercial development to where warehouses are needed for industry.

I feel comfortable that RI Housing is geared to take advantage of every public resource and every private investment to do even more.

I do think that RI Housing does exemplify the public private partnership.

ConvergenceRI: In terms of your meetings with Stefan Pryor, and being part of the economic development team, how much give and take is there. Is it an iterative process? How flexible is the game plan moving forward?
FIELDS: I don’t think it’s my role to comment on that. It’s the governor’s agenda, and she and her team are out there.

I’m focused on the $3 million that’s in her budget to help leverage a resource that fully use – the 4 percent tax credit.

You know that we did a lot of tax credit deals with something that’s called a 9 percent credit, and that’s capped. Maybe when Washington has a tax bill, we’ll be able to expand that.
The 4 percent tax credit, that is also capped, but we’re very far away from that cap, but we can’t fully use it because we need money to be able to fill the gap.

Basically, this money would leverage that 4 percent so that we can attract more private investment. We would be able to build and preserve more housing in the state. We’re focused on delivery more new units, but if we don’t preserve [the housing] that we already have, such as the Charles Place renovations that we announced today, we will fall further behind.

We have a number of developments that are privately held, as well as public housing that needs investment, and [leveraging the $3 million] with the 4 percent tax credit, would be a way to do that, by brining private money in.

It’s a resource on the table that’s not fully used.

ConvergenceRI: I give you the last word.
FIELDS: This is an agency in strong fiscal shape. We contribute hundreds of millions of dollars into the local economy. We are here to align with the Governor’s agenda.

We are making a significant contribution to that agenda by creating jobs, by getting people in the housing situation that works for their families, and engage in what I hope are stronger communities.

We help people buy, rent and maintain housing, serving people in the middle class.