The leader of a new Los Angeles County housing agency is heading for the door after doubts arose about his resume.
Ryan Johnson, interim CEO of the taxpayer-funded Los Angeles County Affordable Housing Solutions Agency, announced he was not going to pursue a permanent CEO position when his one-year contract expires this fall, the Los Angeles Times reported.
Johnson said he will return to the private sector to have more flexibility caring for an ailing family member.
The decision means LACAHSA will embark on its second national search for a CEO in two years, rocking an agency just getting off the ground.
The agency is posed to collect an estimated $400 million a year in taxpayer money to fund low-income housing developments and help solve the region’s homelessness crisis.
Johnson was selected in September from 28 applicants, according to the Times.
Agency board members, including Los Angeles Mayor Karen Bass, five county supervisors and local elected officials and nonprofit leaders had touted Johnson for bringing a fresh perspective and creative ways of funding low-income housing.
His resume pointed to a career in finance, capital markets and real estate development and investment, mostly outside of government.
But Times interviews with board members and a past employer raised concerns about Johnson’s background and the vetting that led to his assuming the job as interim head.
Johnson said in his last job as founder and CEO of Fulham Square Capital, he acquired 2,600 apartments and converted them from market-rate to affordable housing in 14 months. An outside headhunter didn’t research the deals, and Johnson declined to provide information about the transactions.
In his five months as vice president for a Bay Area nonprofit housing developer, Johnson said he’d helped save the firm from bankruptcy. A spokesperson for the company disputed that claim, saying it was never at financial risk.
Before moving to California, Johnson worked as a vice president for a South Carolina nonprofit investor. Over 15 months, Johnson claimed he grew the firm’s assets to $220 million, from $5 million. The nonprofit’s tax forms, however, show a much smaller increase.
Miguel Santana, president and CEO of the California Community Foundation and vice chair of the LACAHSA board, said the agency will need to find a new leader.
He also said questions about Johnson’s background check mean the agency should overhaul its hiring process.
LACAHSA is paying Illinois-based KEES Alford Executive Search up to $175,000 over two years to lead the search for an interim and permanent CEO. The firm said it used industry standards and conducted an appropriate search. Santana said the agency should consider contracting with a new consultant.
“Any partner that we engage to support our selection has to do a thorough vetting of the experience that is being stated in a resume,” Santana told the Times.
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