WEDNESDAY, MAY 3, 2000
Mayor Williams And Clinton Administration Announce National Capital Revitalization Corporation Board
(Washington, DC) Mayor Anthony A. Williams today was joined by White House Office of Management and Budget Director Jack Lew, U.S. Department of Treasury Undersecretary for Domestic Finance Gary Gensler, and Congresswoman Eleanor Holmes Norton to announce new appointees to the National Capital Revitalization Corporation (NCRC).
The NCRC is a public/private entity designed to serve as an important new tool for delivering economic development services in the District of Columbia. NCRC's mission to create jobs, attract businesses, enhance the tax base and improve economic opportunities for citizens and businesses in the District advances Mayor Williams' vision of building and sustaining healthy neighborhoods.
To achieve these goals, the NCRC will use tax exempt financing, real estate development, capital improvements, and other initiatives. NCRC's mandate, as proposed by the President and enacted by the Council of the District of Columbia, is broad and includes a myriad of incentives and other economic development tools.
The federal government is providing initial financing for the NCRC with an economic development grant of $25 million. In addition, Fannie Mae has committed to invest $75 million in NCRC projects over a period of several years.
"We are already seeing the success of our efforts to turn our long-standing promise of economic development into reality. The federal government's commitment, combined with assistance from Fannie Mae, will enable the NCRC to become a powerful new weapon in our arsenal to spur economic development throughout the District," said Mayor Williams.
The NCRC will work closely with the Office of the Deputy Mayor for Planning and Economic Development to coordinate the activities of District agencies responsible for economic activities.
The nine-member NCRC Board will be comprised of four Mayoral appointees, three Presidential appointees, the Mayor and the Chief Financial Officer of the District of Columbia. The list of appointees includes:
Presidential Appointments (3)
Greg Farmer
Lawrence H. Parks
Madeline Petty
|
Mayoral Appointments (4)*
J. Roderick Heller III
Karen Hardwick
F. Joseph Moravec
Lloyd D. Smith
* subject to Council confirmation
|
Ex-officio
Mayor Anthony Williams
Chief Financial Officer Valerie Holt
|
|
