PACDC’s activities have culminated in more than $140 million in new resources for affordable housing and neighborhood economic development efforts.
PACDC Meets with New RDA Director
On November 18th, PACDC had a productive meeting with Ed Covington, the new Executive Director of the Redevelopment Authority of the City of Philadelphia. Mr. Covington previously served as a Senior Vice-President at Wells Fargo/Wachovia where he was a marketing manager for community lending and investment for Wachovia’s mid-Atlantic region. Mr. Covington replaces Terry Gillen, who has taken a new role in the Nutter Administration as Director of Federal Legislation, where she will manage the City’s relationships in Washington, D.C. and lobby on behalf of the City.
PACDC Fact
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The Philadelphia Housing Trust Fund has raised more than $67 million in revenue since September 2005 to expand housing opportunities for Philadelphia families.
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The CDC Tax Credit Program has fostered 30 partnerships between businesses and CDCs that is providing $30 million in new funding to support neighborhood economic development.
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PACDC’s Member Services programming builds the capacity of CDCs through technical assistance and training, the sharing of ideas, best practices, and promotion of the local CDC industry.
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