Pittsburgh History & Landmarks Foundation Announces New Non-profit Corporation
Mark Bibro, Chair, announced today the formation by Pittsburgh History & Landmarks Foundation (PHLF) of a new non-profit corporation to expand PHLF’s activities in neighborhood and urban revitalization. The Chief Executive Officer will be Howard B. Slaughter, Jr., and Arthur Ziegler will serve as president.
The new non-profit, Landmarks Community Capital Corporation (LCCC), will build a financial base by obtaining loans, grants, and investment capital and in turn will finance and develop projects that assist in the revitalization of urban centers, towns, and neighborhoods. The corporation may undertake the actual developments, and co-develop or lend funds to community development corporations and others that undertake such work. It will also work to support expansion of the regional employment base and energy conservation, green and sustainable goals, and assist rural and farm economic developments. LCCC will also contract with government and private agencies to define such projects and conduct feasibility studies for them.
Dr. Howard B. Slaughter, Jr., who resigned last week after eight years as the Director of the Pittsburgh Fannie Mae Community Business Center, will become one of Pittsburgh’s newest Chief Executive Officers. Dr. Slaughter will now serve as the CEO of the newly established company, Landmarks Community Capital Corporation. The company’s focus will be on providing equity, debt, short and intermediate term financing for housing and economic development activities in Western Pennsylvania, Eastern Ohio, and West Virginia markets.
Slaughter will utilize his vast experience, which includes serving as the former Vice President of Dollar Bank’s Community Development group and past Director of Preservation Services of the Pittsburgh History & Landmarks Foundation. Brian Hudson, Executive Director of the Pennsylvania Housing Finance Agency, said,
“Howard’s new role as CEO of Landmarks Community Capital Corporation will benefit the State by ensuring that more capital is deployed in this market, which will have a significant impact in Pennsylvania. We are fortunate to have someone with Howard’s skills serving at the State level and as the CEO of LCCC.”
Arthur Ziegler said of Howard, “He has been deeply involved in community development financing from every perspective and we are certain he will lead our new non-profit to excellent results. He has been deeply involved in preservation nationally as the former PA Advisor to the National Trust for Historic Preservation.”
Slaughter said, “There is an opportunity in the market to provide appropriate financing for existing and new developments independently and in collaboration with other financial intermediaries and developers. Landmarks Community Capital Corporation will be a private-sector catalyst and a participator in financing housing, mixed-use, and commercial developments. It will also focus on public sector policy initiatives and work with legislators as well as utilize tools like the New Market Tax Credits to bring additional needed capital to the region.”
Brief background of Dr. Howard B. Slaughter, Jr.: He holds five earned degrees, including a Master’s Degree from Carnegie Mellon University in Public Management and his Doctorate in Information Systems and Communications from Robert Morris University. He also attended Harvard University’s John F. Kennedy School of Government, completing the Program for Senior Executives in State and Local Government. He completed course work on Fundamentals of Real Estate Finance at Massachusetts Institute of Technology’s Center for Real Estate. Slaughter is also a Fannie Mae Foundation Fellow and serves on the Board of the Urban League of Pittsburgh, and on the Board of the Pennsylvania Housing Finance Agency, receiving a gubernatorial appointment from Governor Ed Rendell. He is also the Founder of the Financial Literacy Program of Pittsburgh at Robert Morris University. He will start his new job on October 15, 2007.