Director Of Community Development
Established $25 million commercial revolving loan fund for non-profit, community-based development organization. Fund Initially capitalized by succesfully investing federal CDBG funds through the use of a portion of the City of Seattle's annual allocation. Investment area limited to the Rainier Valley, a 4.5 sq. mile federally designated Neighborhood Revitalization Strategy Area. Worked closely with City of Seatle staff, Sound Transit personnel, and various community groups to meet the goals of investing in transit oriented development as defined in the Operating Plan, which was established by the community based founding board.Personally responsible for originating and servicing 34 investments, totaling over $30 million in CDBG and revolved loan ifunds. All investments either were paid in full prior to maturity or are currently performing. Loans were primarily acquisition and pre-development of commercial land for affordable housing projects, community centers for immigrants or non-profit organizations. Product types included 500 units of affordable housing rental or home ownership units, 130,000 sf. of commercial, retail, office. community centers and day care space leveraging approximately $200 million in total real estate investments. Additional investments included private commercial developments and small business loans.Additional community activities included developing the concept and supporting the implemention of the September 2008 MLK Safety Street Fair with Sound Transit and the City of Seattle, with over 3,000 attendees, to celebrate the completion of construction of the first phase of the light rail system in Seattle and the commencement of service in 2009. Also worked with Cityof Seattle SDOT staff to modify the RPZ ordinance to enable employees of businesses at the light rail stations to obtain street parking passes in the restricted on-street parking zones.
