ANNAPOLIS, MD – Governor Wes Moore announced today the inaugural meeting of Maryland Community Investment Corporation Board, marking a significant milestone in the state’s commitment to community development and economic revitalization. The board will draw crucial federal financial resources to galvanize development investment in underserved communities, fostering growth and opportunity across the state.
“In partnership with the Maryland General Assembly, we passed the most comprehensive housing package of any Maryland administration in recent history. A cornerstone of our housing package is the creation of a new board charged with securing additional federal investment for community development,” said Gov. Moore. “Today, we lay the foundation for sustainable growth and prosperity, ensuring that every community in Maryland has the resources to thrive.”
Established under House Bill 599, proposed and signed into law by Governor Moore, the Maryland Community Investment Corporation represents Maryland’s first state sponsored Community Development Entity. The board of directors comprises seven members, two who will be appointed by the governor and five enumerated in the legislation: Comptroller Brooke Lierman; Maryland Department of Housing and Community Development Secretary Jake Day; Maryland Department of Planning Secretary Rebecca Flora; Maryland Department of Commerce Secretary Kevin Anderson; and Maryland Department of General Services Secretary Atif Chaudhry.
The inaugural meeting will review the framework to establish the Maryland Community Investment Corporation, including the approval of processes to hire a chief executive officer and elect a board chair. The board will also discuss the approval articles of incorporation and pursuit of a federal Employer Identification Number.
The creation of Maryland Community Investment Corporation comes at a pivotal time for Maryland, as the state addresses housing affordability and community investment through comprehensive legislative measures championed by Governor Moore during the 2024 legislative session. The efforts, supported by a $361 million capital budget allocation, underscore Maryland’s commitment to equitable growth and sustainable development.
The meeting is scheduled for Wednesday, July 3, at 1 p.m., will be conducted via teleconference and is open to the public to view.
For details on the Maryland Community Investment Corporation and other implementation steps from housing and community development legislation, visit dhcd.maryland.gov/
