Workgroup Explores Creation of a Smart Growth Investment Fund

The Maryland Smart Growth Investment Fund Workgroup (SGIFWg) was created by Chapter 592 of the 2013 Laws of Maryland (Senate Bill 965 / House Bill 1170) which became effective on June 1, 2013.  The primary charge of the Workgroup is to design an investment fund to encourage and support smart growth projects in targeted areas such as Transit Oriented Development and Sustainable Community Areas. The workgroup’s membership was determined by legislation to include representatives from both the Maryland Senate and House of Delegates, specific state executive departments and commissions, county and municipal governments, and the private sector.  Raymond A. Skinner, Secretary of the Department of Housing and Community Development (DHCD), is the convener.  MACo’s representative on the Workgroup is David Iannucci, Assistant Deputy Chief Administrative Officer for Economic Development, Prince George’s County.

The Workgroup first convened on June 13, 2013 and has scheduled monthly meetings for the rest of the year in order to  meet the statutory deadline to report its findings by December 31, 2013. The Workgroup’s  initial focus was conducting a  comparative study of existing similar funds located in Cincinnati, Pittsburgh, San Francisco Bay Area, as well as international development fund models such as the USAID Enterprise Fund. This research is facilitated by a consulting team from the University of Maryland’s National Center for Smart Growth Research and Education and the George Washington University’s Center for Real Estate and Urban Analysis. Based on the analysis of existing funds, the Workgroup has now begun to formulate possible elements that would define a potential Maryland fund such as mission, governance, and geographic focus.

In accordance with the Maryland Open Meetings Act, the Workgroup’s meeting dates are posted on DHCD’s website and the public is welcome to attend. For further information, please contact Peter M. Dolkart at 410-514-7015 or dolkart@mdhousing.org.

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