2008 Objectives

• Leverage the Authority’s current asset base by pledging net assets as collateral for short-term debt, as needed, to fund new acquisitions and investments.

• Create a revolving loan fund program for small businesses that move into newly redeveloped commercial areas such as the commercial storefronts in the Gateway Arts District, and the commercial space that will be developed on the Suitland Manor site.

• Assist the City of Mount Rainier in planning and financing a structured parking facility for small businesses and cafes.

• Provide gap-financing for the Brentwood Arts Center and help to promote the new Maryland National Park & Planning Commission facility that will be located there.

• Assist the Housing Authority with managing the demolition of McGuire House and sell the site for development of affordable senior housing.

• Sell the recently-purchased property at 6412 Central Avenue, across from the Addison Road Metro station (a partially completed Dunkin Donuts store), to an entity that will complete the project; or demolish the improvements and hold the site for future development opportunities.

• Assist DHCD in providing HOME financing for demolition of the vacant Chapel Woods Apartments, an extreme blight on the surrounding community in Capitol Heights; and help clear the way for development of high-quality, for-sale and rental housing.

• Provide funding to the Town of Bladensburg for its landscape and streetscape improvement project at the intersection of Route 450 and 57th Street (one of the major “Gateways” into Bladensburg).

• Work with the Towns of Seat Pleasant and Bladensburg to continue planning and begin assembling land for mixed-use “Town Center” projects.

• Work with the Maryland National Capital Park & Planning Commission to research current economic conditions and demographic trends in key revitalization districts, and create an evaluation model that tracks changes in key economic indicators over time.

• Negotiate and execute a final Development Agreement for Suitland Manor, and work with the selected developer to clear any contingencies that need to be resolved prior to closing on the sale of the property.

• Oversee issuance of $40 million in tax-exempt land financing for the acquisition and renovation of at least 600 units of distressed multi-family rental housing.

• Assist DHCD in underwriting and processing $2 million in HOME gap financing for affordable rental housing projects.