A Baltimore-based attorney and Howard County resident has been elected president of the newly formed Columbia Downtown Housing Corp., which will provide affordable housing to Columbia, according to a news release.
Paul K. Casey, a partner at Ballard Spahr law firm in Baltimore, will serve as the corporation's president, and, alongside fellow Ballard Spahr partner Michael W. Skojec, was named one of the corporation's 15 directors.
“While the Corporation’s membership reflects a diversity of perspectives, everyone shares the goal of ensuring affordable housing options,” Casey said. “Our mission is challenging, but the Board’s efforts will benefit from its members extensive experience in affordable housing finance, development, and management.”
The 15 directors will administer affordable housing funds, raised primarily by building permit fees from future downtown developments, to build 5,500 additional affordable housing units in Columbia.
According to the news release, the funds are projected to be about $4.6 million in the next three years.
The corporation was created as part of the county's 30-year Downtown Redevelopment plan.