| Chairman
Linda W. Cropp, At the Request of the District of Columbia Housing
Finance Agency
A PROPOSED RESOLUTION IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
Chairman Linda W. Cropp, at the request of the Board of Directors of
the District of Columbia Housing Finance Agency, introduced the following
resolution, which was referred to the Committee on Economic
Development.
To confirm the appointment of Milton J. Bailey as the Executive
Director of the District of Columbia Housing Finance Agency.
RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA,
that this resolution may be cited as the "District of Columbia
Housing Finance Agency Milton J. Bailey Confirmation Resolution
of 2001."
Sec. 2. The Council of the District of Columbia confirms the
appointment of:
Milton J. Bailey
5808 16th Street, N.W.
Washington, D.C. 20011
(Ward Four)
as the Executive Director of the District of Columbia Housing Finance
Agency, in accordance with Section 203 of the District of
Columbia Housing Finance Agency Act,
effective March 3, 1979 (D.C. Law 2-135; D.C. Code, Section
42-2702.03), to serve at
the pleasure of the Board of Directors of the District of Columbia
Housing Finance Agency.
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
Board of Directors of the District of Columbia Housing Finance Agency.
Sec. 4. This resolution shall take effect immediately.
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Milton J. Bailey
District of Columbia Housing Finance Agency
815 Florida Avenue, NE, Washington, DC 2001
Office: (202) 777-1601, E-mail: mllton@dchfa.org,
Fax: (202) 987-6736
Acting Executive Director:
District of Columbia Housing Finance Agency (HFA),
Washington, D. C. 'O1- Current (returned to HFA 9/4/01)
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 District 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
$4.7 million operating budget and $1.6 billion combined MRB portfolio.
Director:
Department of Housing and Community Development (DHCD),
Washington, D.C. '00 - '01
Appointed by the Mayor and confirmed by the Council of
the District of Columbia, the Director is responsible for formulating and
implementing the housing policies and plans of the District of Columbia
Government; managing the financial and program affairs of the Department
with the assistance of a staff of 142 persons; administering its $75.8
million operating budget, including CDBG, HOME, ESG, HOPWA, appropriated,
letter-of-credit and capital, funds; managing its $25 million Housing
Production Trust Fund; administering the affairs of the Redevelopment Land
Agency (RLA) and financing the production of single and multifamily
housing initiatives and community based economic development initiatives.
Significant Accomplishments: (a) developed Target Area
Strategic Investment Plan; (b) developed Five-year Comprehensive Plan; (c)
developed Three-year Federal Funds Spending Plan; (d) developed Mayor's
Legislative Housing Initiative; (e) implemented Risk Management Plan; (f)
converted IDIS information technology system to HDS system; (g) initiated
GIC information system conversion; (h) re-established Housing Production
Trust Fund; (i) negotiated transfer of RLA assets to the National Capital
Revitalization Corporation; 6) invested HOME Funds with HFA to yield
3.75°/ mortgage rates; (k) established property disposition division; (I)
initiated transfer of property maintenance activities to Office of
Property Management; (m) over-hauled programmatic and investment
functions; (n) strengthened internal and external performance and
accountability standards; (o) aligned staff functions with mission, policy
and spending objectives; (p) implemented employee training and incentive
programs; (q) funded the development of more than 5,000 rental and
ownership housing units; (r) streamlined Homestead Program; and (s) placed
the 25acre Camp Simms site out for development.
Executive Director:
District of Columbia Housing Finance Agency (HFA), Washington, D. C. '94 -
'00
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 District 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 $1 billion combined MRB portfolio.
Significant Accomplishments: (a) served as HUD PAE
under Mark-to-Market program; (b) purchased corporate headquarters; (c)
obtained a "BBB" Issuer Credit Rating from Standard & Poor's
and geared the agency toward receiving an "A" rating from
Moody's Investor Services; (d) obtained local, Congressional and
Presidential approval to overhaul 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; (I) eliminated $14.4 million GDBG and
appropriated debt; (k) increased net worth from -$6.4 million to $16.5
million; (I) recruited 17 area banks to serve as Participating Lenders;
(m) diversified homeownership programs; (n) developed Five-year Strategic
Plan and Five-year Business Development Plan; (o) over-hauled 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
Responsible for marketing and delivering the firm's 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 District 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.
Personal:
Age: 47. Born: Karlsruhe, Germany. Attended
International Schools in Baghdad, Iraq; Teheran, Iran; and, Bangkok,
Thailand. Boston University, School of Public Communication `76. Harvard
University, Kennedy School of Government Senior Executives Program, Fannie
Mae Fellow `96. Daughter. Leah, tenacious eleven-year old.
References:
Available upon request. |
