Cynthia Karnai ’08

MEET Cynthia Karnai ’08
EARNED: Master of Business Administration with a concentration in Financial Management

Cynthia Karnai Confirmed as Director of Delaware State Housing Authority

In March 2024, Cynthia Karnai was nominated by Governor John Carney and confirmed by the State Senate as the Director of the Delaware State Housing Authority (DSHA) as well as Cabinet Secretary. Karnai’s promotion to the chief position comes after serving as its deputy director since 2022.

Since joining DSHA in 2005 in the Housing Finance Division, her work has focused on promoting homeownership, from managing programs during the height of the housing boom with annual funding of over $420 million to challenging economic times.

Karnai has served in several positions at DSHA including director of housing finance where she guided homeownership and foreclosure prevention; and chief operating officer where she was charged to oversee its daily operations.

During her tenure, she has launched innovative resources to revitalize Delaware’s housing market, including emergency foreclosure assistance for senior citizens and low-rate mortgage rates for new construction and veterans. She launched the first-time homebuyer federal tax credit in Del. As a unique initiative for the agency, Karnai developed and launched, in 90 days, the Delaware Mortgage Relief Program, the state’s mortgage assistance program for those impacted by COVID-19.

Under Karnai’s leadership, DSHA has been awarded the Government Finance Officers Association National Accounting and Financial Reporting Award, received national recognition by the National Council of State Housing Agencies, and received the National Award of Merit from the National Association of Housing and Redevelopment Officials.

“Thank you to the members of the Delaware Senate for their votes confirming Cynthia Karnai as Director of the Delaware State Housing Authority,” said Governor Carney. “With her tenure and expertise with the Housing Authority, Cynthia is well positioned to lead the difficult but rewarding work of helping Delawareans obtain safe and stable housing, creating affordable housing options, and strengthening neighborhoods. I appreciate her willingness to continue to serve the First State.”

I am honored and humbled to serve as the new Director of the Delaware State Housing Authority,” said Karnai. “I’m proud to work with a diverse group of housing experts and look forward to advancing DSHA’s mission.”

About the Delaware State Housing Authority

The Delaware State Housing Authority (DSHA), formed in 1968, provides quality, affordable housing opportunities and appropriate supportive services to low- and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it serves as a Public Housing Authority and Community Development. As a Public Housing Authority, DSHA receives funding from HUD to build, own and operate public housing in Kent and Sussex counties, two of Delaware’s three counties.

ARTICLE EDITED AND REPRINTED WITH PERMISSION FROM: https://news.delaware.gov/2024/03/18/cynthiakarnai-confirmed-as-director-ofdelaware-state-housing-authority/