DelVal Board and Administration
Each year, on a rotating basis, one of the four Counties that created DelVal (Bucks, Chester, Delaware, and Montgomery Counties) appoints a Director with a 5-year term to the DelVal Board. The Board holds an Agenda Meeting and a Public Meeting monthly, normally on the second Monday of each month. Officers are appointed annually at the Board's January reorganization meeting. The DelVal Board must authorize all payments of DelVal's funds, approve the origination of all Loans, approve the issuance of all debt obligations, and authorize any interest rate swap transactions.
Board of Directors
- Joseph E. Brion, Esq., Chairman (Chester County)
- James H. Shacklett, III, Vice Chairman (Montgomery County)
- Robert J. Harvie, Secretary (Bucks County)
- David E. Landau, Esq., Treasurer (Delaware County)
- Anand Solanki., Assistant Secretary and Treasurer (Chester County)
DelVal does not have any employees; the operation of DelVal has been privatized since its founding in 1985. The Board appoints the Trustees, Solicitor, and Program Administrator to manage and conduct DelVal's activities. Computershare Corporate Trust is responsible for preparing the Loan invoices and collecting the Loan repayments, principally through ACH debits. TD Bank holds all of the funds and investments and disburses all payments for debt service, interest rate swap transactions, and requisitions. The Solicitor, Carmen P. Belefonte, Esq., manages the preparation of all resolutions and Loan documents. The Solicitor serves as DelVal's Open-Records Officer. The Administrator, Calhoun Baker Inc., serves as DelVal's "independent registered municipal advisor" and "qualified independent representative" and manages DelVal's debt, investment, and interest rate swap transactions. The Board and the Administrator must approve the origination of all Loans.