FHC was created by ordinance in 1969, and is governed by a Board of Commissioners appointed by the Mayor of the City of Ferndale. FHC is governed by the Board, which provides financial oversight, establishes policies, sets the strategic plan, and hires and directs the Executive Director. The Executive Director manages the staff and day-to-day operations of the organization. FHC is funded by, and functions under contract with, the U.S. Department of Housing and Urban Development(HUD). FHC owns and operates two apartment buildings and 43 homes in the City of Ferndale. The FHC meets on the second Wednesday each month alternating between Withington West and Autumn House.