Director of the Department of Housing and Community Development Milton J. Bailey Confirmation Resolution of 2000
PR 13-924

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A PROPOSED RESOLUTION IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

Chairman Cropp, at the request of the Mayor, introduced the following resolution, which was referred to the Committee on Economic Development.

To confirm the Mayoral appointment of Mr. Milton J. Bailey as the Director of the Department of Housing and Community Development.

RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the "Director of the Department of Housing and Community Development Milton J. Bailey Confirmation Resolution of 2000".

Sec. 2. The Council of the District of Columbia confirms the appointment of

Mr. Milton J. Bailey
1877 Charming Street, N.E.
Washington, D.C. 20018
(Ward 5)

as Director, Department of Housing and Community Development, in accordance with section 2 of the Confirmation Act of 1978, effective March 3, 1979, (D.C. Law 2-142; D.C. Code, sec. 1633.7) to serve at the pleasure of the Mayor of the District of Columbia.

Sec. 3. The Council of the District of Columbia shall transmit a copy of this resolution, upon its adoption, each to the nominee and to the Office of the Mayor.

Sec. 4. This resolution shall take effect immediately.

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Milton J. Bailey
1877 Channing Street, NE
Washington, D,C. 20018

Home: (202) 269-1877 E Mail: mjbailey@starpower.net Fax: (202) 319-9461 Office: (202) 777-1601

Executive Director. Housing Finance Agency, Washington, D. C, 94-Current

Appointed by the Board of Directors and confirmed by the Council of the District of Columbia, the Executive Director is responsible for formulating and implementing single and multifamily housing policies, plans and programs that help the local government increase the supply of safe, decent and affordable housing, The incumbent is also responsible for providing leadership, training, directing the HFA's financial, administrative and business affairs, and managing its $2.5 million operating budget and 5850 million MRB portfolio.

Accomplishments: (a) serve as HUD PAE under Mark-to-Market program; (b) purchased HFA's corporate headquarters; (c) obtained "BBB" Issuer Credit Rating from Standard & Poor's; (d) obtained local, Congressional and Presidential approval to overhaul HFA V Enabling Legislation: (e) obtained HUD and IRS approval to increase city's Target Areas from 61 to 157 of its 192 census tracts; (f) established Target Area Builder Bond Program; (g) established Loan Guarantee and Credit Enhancement Fund; (h) first HFA in nation to monetize Section 8 McKinney Act revenues; (i) established multifamily Risk Sharing Program; (j) eliminated HFA's $14.4 million GDBG and appropriated debt; (k) increased HFA's net worth from $6.4 million to $16.5 million; (1) recruited 17 area banks to serve as Participating Lenders; (m) diversified HFA's homeownership programs: (n) developed HFA's Five-Year Strategic Plan and Five-Year Business Development Plan; (o) overhauled HFA's Accounting, Personnel and Procurement Manuals; and (p) implemented employee training and incentive programs.

Deputy Director: Department of Housing and Community Development, Washington. D. C. 93 - 94

Responsible for assisting with the formulation and implementation of the housing policies of the District of Columbia Government; managing the financial and program affairs of the Department: administering its $42 million operating budget, including CDBG. HOME appropriated, and capital, funds; managing its Housing Production Trust Fund; and financing the production of single and multifamily housing.

Associate Vice President: Legg Mason Wood Walker, Incorporated, Public Finance Department, Baltimore, MD 91- 93

Responsible for marketing and delivering the firm investment banking services to state and local governments, health and higher education institutions, housing authorities and tax-exempt organizations. Structured and managed in excess of $450 million of fixed and variable-rate bond issues.

Program Manager: Executive Office of the Mayor, Office of Business and Economic Development, Washington, D.C. 82 - 91.

Established and managed the government's Public/Private Activity Revenue Bond Program and diversified its financial assistance programs to reduce small and nonprofit business dependence upon appropriation-based loans. Structured in excess of $1.3 billion in tax-exempt and taxable bond issues and earned annual program revenues of $1.4 million.

Boards and Commissions:

United Planning Organization, Washington, D.C.: Commissioner, Member of Executive Committee and Chairman of Housing Committee
Government Finance Officers Association of Washington Metropolitan Area: Former Secretary, Board of Directors
Coalition of Nonprofit Housing Developers, Affordable Housing Task Force, Washington, D. C.; Chairman, Finance Committee

Personal:

Age: 46. Born: Karlsruhe, Germany. Attended International Schools in Baghdad, Iraq; Teheran, Iran, and, Bangkok, Thailand.  Boston University, SPC 96 Harvard University, KSG, Fannie Mae Fellow 96. Daughter. Leah, tenacious ten-year old.

References: Available upon request.