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National Capital Revitalization Corporation
May 3, 2000




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The National Capital Revitalization Corporation

The National Capital Revitalization Corporation (NCRC) is a publicly chartered corporation created by an act of the DC Council in partnership with the Federal government.

Mayor Anthony A. Williams

Office of the Deputy Mayor for Planning and Economic Development
May 3, 2000

National Capital Revitalization Corporation - Functions

NCRC will function as a publicly chartered real estate company similar to those found in cities like New York, Philadelphia, Chicago and Atlanta. NCRC will serve the District both as a project initiator and service provider.

  • Project Initiator: Assemble public, private partnerships to implement large-scale real estate projects that strengthen the District's economic base.
  • Service Provider: At the request of the District government, provide high quality transactional and asset management services for development parcels owned, leased, or financed by the District of Columbia.

The NCRC will be an entrepreneurial real estate development company that serves the District as a landowner, investor, and development manager. The NCRC will have the capacity to provide services including:

  • Project Planning
  • Land Disposition
  • Project Management
  • Negotiations
  • Developer Selection
  • Project Financing
  • Lease Administration
  • Intergovernmental Relations
  • Site Control

National Capital Revitalization Corporation - Scope

The keys to NCRC's success and effectiveness are:

  1. Focus:
    • implement select, large scale development projects consistent with Mayo's economic development policies for the District to produce substantial impact on city's employment and tax base.
  2. Entrepreneurial:
    • small staff of highly trained professionals.
  3. Implement District's Objectives:
    • mission, focus and operation closely linked and consistent with implementation of District's overall economic development strategy.
  4. Streamlined:
    • does not replicate District agencies but focuses on its mission so that it is not overwhelmed with competing demands for its services.

National Capital Revitalization Corporation - Organization

The NCRC will be governed by a 9 member Board of Directors consisting of the Mayor, Chief Financial Officer, 3 Presidential appointees, and 4 public citizens nominated by the Mayor and approved by the DC Council. A CEO, who reports directly to the Board will be responsible for day to day management of the NCRC and supported by a staff of development professionals.

NCRC Board. of Directors (3 Presidential, 4 Mayoral, Mayor, CFO)
President & CEO
Development Design/Construction Finance Legal

NCRC will complement the economic development activities of the Deputy Mayor for Planning and Economic Development (DMED). DMED coordinates all District Agencies responsible for economic development and recommends economic development policies and priorities for the District. Specifically, DMED is responsible for.

  • Assisting the Mayor in developing and executing the District's economic development policy
  • Business attraction and retention
  • Financial packaging and incentives
  • Intra-governmental coordination for economic development

National Capital Revitalization Corporation - Project Selection

The Director of Planning and the NCRC will work together to identify appropriate development projects. The Director of Planning will establish a framework for land use review and approval. The NCRC will implement projects consistent with these guidelines.

Planning NCRC Planning
  • Target priority areas
  • Establish planning framework
  • Prepare Area Plans
  • Participate in consultant scoping/selection
  • Prepare development program
  • Review economics
  • Develop Implementation Program
  • Review project
  • Coordinate community public review
  • Recommend to mayor

The DMED and the Director of Planning will prepare an initial Revitalization Plan for the NCRC, subject to approval by the NCRC Board and DC Council. The Revitalization Plan will set criteria for project selection, including:

  • Long-term economic impact for the District
  • Short-term tangible results
  • Public control of project and site
  • Considerable scale and complexity
  • Commitment to neighborhood revitalization

National Capital Revitalization Corporation - Financing

The Deputy Mayor will identify financial resources to secure a healthy long-term fiscal architecture for the NCRC. NCRC's financial plan will include:

  • Initial capitalization through a $25 million Federal community development grant
  • Investment capital of up to $75 million from Fannie Mae
  • Potential asset management and disposition of the Redevelopment Land Agency's portfolio
  • Potential allocation of the District's tax increment financing for specific NCRC projects

National Capital Revitalization Corporation - Next Steps

The Mayor is directing the DMED to create an organizational infrastructure for the NCRC to allow operations to commence as soon as possible. The Federal Government and Fannie Mae are providing grants to the NCRC to fund startup requirements including:

  • Staff: DMED has engaged an executive search firm to conduct a nationwide search for the CEO and senior staff:
  • Offices: DMED will procure office space, equipment, and systems for the NCRC.

The implementation of the NCRC begins today. The NCRC will be ready to implement projects by early 2001.

time line bar graph


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
Mayor Anthony Williams
Chief Financial Officer Valerie Holt


Greg Farmer

Greg Farmer has been Vice President for Government Relations and International Trade for Nortel Networks since 1996. At Nortel, a global internet service provider, he has been responsible for international trade support, regulatory activities, and relations with both the U.S. and foreign governments. He serves on the Governing Board of the Telecommunications Industry, the Electronics Industry Alliance, the U.S.--Republic of China Business Council, and the U.S. State Department Advisory Committee on International Economic Affairs.

Mr. Farmer served as Under Secretary of Commerce to President Clinton from 1992 to 1996; as Under Secretary, he helped develop a strategic plan for Travel and Tourism, and initiated marketing programs, including internet services for Travel and Tourism. He was a member of Mayor Anthony Williams transition team. Mr. Farmer also served as Secretary of Commerce for the state of Florida and as Chief of Staff to former Congressman Buddy MacKay. Mr. Farmer is a graduate of Florida International and Florida State Universities.

Lawrence H. Parks

Lawrence H. Parks is Senior Vice President for External and Legislative Affairs at the Federal Home Loan Bank of San Francisco, where he was responsible for opening the first Washington office. As the lending institution's chief negotiator with Congress, the White House, and industry trade groups, he has developed polices and business products that ensure the bank's commitment to housing finance, and has represented the bank's interests in financial management and affordable housing.

From 1993 to 1997 Mr. Parks served as Senior Advisor to the Secretary and Director of Strategic Growth and Finance at the U.S. Department of Commerce; in this position he oversaw industry defense conversion in California, and established collaborations between government, business and academia for the Clinton Administration for the California Economic Recovery effort in San Francisco. Prior to that he served as Counsel to the U.S. Senate Committee on Banking, Housing and Urban Affairs, and as Director of the Mortgage Bankers Association of Washington, D.C., where he was chief lobbyist for tax, commercial mortgage banking, and multifamily issues. Mr. Parks is a graduate of Yale Law School and Temple University.

Madeline Carol McCullough Petty

Madeline Petty has more than twenty years of experience in housing and community development. She is currently Director of the D.C. Office of The Enterprise Foundation, which works with community based organizations, private sector, government, and other stakeholders to redevelop communities through affordable housing, community facilities, employment and child care initiatives. She manages capacity building, leadership development, land use planning and supportive housing programs for the Foundation. From 1980 to 1987 she served in several senior positions, including Director of the D.C. Department of Housing and Community Development.

Prior to joining the Enterprise Foundation, she was President of MPA, Inc. a management consulting group which provided community planning and development services to community based organizations, where she helped develop affordable and mixed income housing and other community facilities. She also has worked as Director of Marketing and Enrollment for the East of the River Health Association in Washington, a comprehensive health program where she coordinated activities with the U.S. Department of Health. Ms. Petty is a graduate of Howard and Texas Southern Universities.


J. Roderick Heller, III

J. Roderick Heller, III is Chairman and Chief Executive Officer of Carnton Capital Associates, a venture capital firm, and of Financial Passport, Inc., an Internet-based provider of financial services. He has served as Chairman and Chief Executive Officer of The National Housing Partnership (NHP), the nation's largest owner and operator of apartments, directing the public offering and subsequent sale of the company in 1995 and 1997. Mr. Heller was also a partner at Wilmer, Cutler and Pickering, Washington, D.C. from 1971 to 1982. He served as, Chairman of the nonprofit public radio and television station WETA from 1997 until February 2000, was the founding chairman of the Civil War Trust and is a former Vice Chairman and Trustee of the National Trust for Historic Preservation. A resident of Washington, D.C., Mr. Heller is a Trustee of The Federal City Council, the Woodrow Wilson Foundation and the Washington Ballet.

A graduate of Harvard Law School and Princeton University, Mr. Heller worked for the U.S. AID Mission to India and Pakistan, taught law at George Washington University, and was President and Chief Executive Officer of Bristol Compressors, a manufacturer of air conditioning compressors and condensing units (1982-1985). In 1987 he served as a member of the National Low Income Housing Preservation Commission.

Karen M. Hardwick

Karen M. Hardwick is a Partner at Hogan & Hartson, where she has practiced law since 1988. Ms. Hardwick's practice has focused on commercial litigation, mediation and arbitration in telecommunications, commercial real estate, entertainment, and insurance. She is a member of the Board of Directors of the Legal Aid Society of the District of Columbia and the D.C. Children's Advocacy Center, a public-private partnership that serves victims of child abuse and neglect. She is co-chair of the D.C. Affairs Section of the District of Columbia Bar, and is also a member of the Bar's Judicial Evaluation Committee.

Ms. Hardwick was formerly Adjunct Professor of Law at American University. She is a graduate of Harvard Law School and received a B.S.E. in systems engineering from the University of Virginia.

F. Joseph Moravec

F. Joseph Moravec has more than 25 years of experience in commercial real estate, brokerage, property management and development. Since 1998, he has been Senior Advisor for Business Development at George Washington University, where he leads University involvement in non-traditional educational ventures. He is a Real Estate Investment and Advisory Committee Member of ASB Capital Management.

Mr. Moravec has worked in senior positions at several Washington-area commercial real estate firms, including Faison, Barnes, Morris, Pardoe & Foster, Grubb & Ellis, and Leggat McCall Companies He was President of the D.C. Association of Realtors and the Metropolitan Washington Association of Real Estate Professionals and a Director of the D.C. Building Industry Association and Jubilee Support Foundation. Mr. Moravec is a graduate of Harvard University.

Lloyd D. Smith

Lloyd D. Smith is Chairman of City First Bank of DC. City First is the first community development bank to open in the District and provides credit, financial and information services for individuals and businesses to strengthen underserved communities. Mr. Smith is also President Emeritus of the Marshall Heights Community Development Organization (MHCDO), which provides housing, Business and commercial development, human resource development, organizational development and institutional development services to the Ward 7 community in Washington, D.C. Under his leadership, MHCDO facilitated construction of three new bank branches, created a small business micro-loan program and a community development fund, and developed various commercial and industrial properties in the area. He is currently a Director for the Community Partnership for the Prevention of Homelessness, the D.C. Building Industry Association, and the Mayor's Health Policy Council.

Before 1980, Mr. Smith spent 27 years in District Government, serving as Deputy Director for the Community Services and Plan Development Divisions, and in Budget and Resource Development. He was a member of the D.C. Zoning Commission, and a Director of the Strategies Committee to Reduce Chronic Poverty. Among other awards, in 1993 he received the Local Minority Business Advocate Award from Howard University's Salute to Blacks in Business. He has taught Urban Policy at The George Washington University, and is a Director of the D.C. Building Industry Association.

National Capital Revitalization Corporation Questions and Answers

Question 1. What is the NCRC?

The National Capital Revitalization Corporation (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 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. NCRC will use tax exempt financing, real estate development, capital improvements, and other initiatives. Under the auspices of Mayor Anthony Williams, NCRC is currently assembling the organizational infrastructure required to fulfill its mission.

Question 2. What will the NCRC do?

As a publicly chartered real estate company, NCRC will have two major roles, that of an initiator and of a service provider.

  • Initiator: The Corporation will assemble public-private partnerships to implement large-scale real estate projects that strengthen the District's economic base. These will be among the largest and most complex transactions in the District for which substantial public private collaboration will be required.
  • Service Provider: At the request of the District government, NCRC will provide high quality transactional and asset management services for development parcels owned, leased, or financed by the District. The services required will vary from project to project, but may include assistance with lease administration, land disposition, developer selection and negotiations. The NCRC will provide services throughout the District to enhance the quality of life in a diverse array of neighborhoods.

Question 3. What will the NCRC do to benefit the District's neighborhoods?

The NCRC will be actively involved m the revitalization of District neighborhoods m two ways - as an initiator of large-scale real estate development and as a real estate service provider to other District Agencies. In its role as an initiator, the NCRC could be the lead agency in charge of projects such as St. Elizabeth's and the Navy Yard which will bring new housing, businesses, and jobs to the District's neighborhoods in addition to downtown. As a service provider, the NCRC will assist other District Agencies and community development organizations to facilitate projects that benefit District neighborhoods.

Question 4. Who will run the NCRC?

The NCRC will be run by a President/CEO who reports to a nine member Board of Directors. The Board will consist of the Mayor, the Chief Financial Officer of the District, three appointees of the U.S. President, and four Mayoral appointees. The DC Council will have authority to approve the Mayor's nominees for the Board. In addition, the DC Council will have ongoing oversight and approval powers for many of the Corporation's policies and procedures, including the NCRC's exercise of eminent domain and bond issuance authority.

Question 5. How will the NCRC relate to the Deputy Mayor for Planning and Economic Development?

The NCRC will work closely with the Office of the Deputy Mayor for Planning and Economic Development. The Deputy Mayor assists the Mayor to formulate the District's economic development policies, such as business attraction and retention, and the NCRC will execute these policies as they relate to large-scale real estate development in the District.

The NCRC President will also be a member of the Economic Development Cluster Group, a group headed by the Deputy Mayor to coordinate the activities of District Agencies responsible for economic activities.

Question 6. How will the NCRC relate to the Department of Housing and Community Development?

The NCRC and DHCD will work together to foster economic development in the District. The NCRC will be responsible for management of large real estate development projects, potentially including housing development.

DHCD will remain responsible for District-wide housing production and preservation programs, and will provide policy input for NCRC managed projects as they related to housing and community development.

In addition, the NCRC will provide real estate services, as needed, for some DHCD-managed projects, including assistance with sales and lease negotiation for District-owned property.

Question 7. How will the NCRC be financed?

The initial financing for the NCRC is a $25 million economic development grant from the Federal Government. In addition, Fannie Mae has committed to invest $75 million in NCRC projects over a period of several years. The NCRC will also eventually absorb the Redevelopment Land Authority (RLA) and handle the disposition of the RLA's real estate assets, which are currently valued at approximately $130 million.

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