Cynthia Swisher given a Baltimore "SmartCFO" award

SmartCEO Profile of Financial Excellence
April 15, 2010

East Baltimore Development Inc. (EBDI) is proud to announce that Chief Financial Officer Cynthia Swisher has been given a Baltimore “SmartCFO” award in SmartCEO Magazine’s Profiles of Financial Excellence.

Ms. Swisher is responsible for developing the financial strategic plan for EBDI, the $1.8 billion revitalization project on 88 acres north of the Johns Hopkins Medical Campus.

“I’m so pleased to see Cindy’s financial acumen recognized,” said Christopher Shea, President and CEO of EBDI. “We would never have been able to accomplish as much as we have without her credibility with investors.”

Since joining EBDI in 2007, Ms. Swisher has raised $175 million in tax increment and private placement bond financings, new markets tax credits, and conventional debt and equity transactions. In addition, Ms. Swisher has extensive experience implementing and administering internal controls and financial reporting protocols required to ensure appropriate corporate fiscal discipline.

EBDI is creating a thriving, mixed-income community for families, businesses and public institutions. When finished, the neighborhood will offer 1.1 million square feet of commercial space, new housing, parks and a world-class public elementary school.

The first renewal project to address the physical, economic and human conditions of a neighborhood in one comprehensive plan, the EBDI effort is viewed as a national model for revitalizing urban spaces.

“One of the most significant benefits has been the creation of a responsible redevelopment model that can be used in other cities to address highly distressed communities,” Ms. Swisher said of her work at the project. “EBDI’s success began with the creation of its board of directors, which included appointees from its public and private stakeholders, as well as community members. Their shared vision and commitment to the community enabled EBDI to raise $350 million of the $1.8 billion planned investment in the community. EBDI’s investment has laid the groundwork that makes the project attractive to private investors, which ultimately will ensure the sustainability of the new mixed-income community.”

EBDI’s Phase 1 master developer, Forest City Science + Technology Group, nominated Ms. Swisher for the award. The nomination was supported by Anthony Deering, Chairman of Exeter Capital and The Rouse Company Foundation; Richard Grossi, CFO of Johns Hopkins Medicine; and Tom Trubiana, Investment Officer of Allen & O’Hara Education Services, Inc., which is developing a graduate-student residence tower at EBDI. An independent panel of financial experts then evaluated the nomination.

"Cindy possesses an uncommon knack for applying strong fiscal management to the creative challenges of the redevelopment of a new community in East Baltimore,” said Scott Levitan, Sr. Vice President and Development Director for the
Forest City New East Baltimore Partnership “She is guided by a double bottom line: Do well by doing what is right."

Before joining EBDI, Ms. Swisher served as Senior Director of Finance for Struever Bros., Eccles & Rouse, a national real estate development firm based in Baltimore, and was responsible for securing $500 million in construction and permanent financing for the Baltimore and Rhode Island portfolios. Ms. Swisher has more than 20 years of experience in the real estate industry.

Ms. Swisher earned a Master’s in Business Administration with a concentration in Finance from Loyola University Maryland and a dual Bachelor of Science in Accounting/Information Systems from the University of Maryland College Park. She is a Certified Public Accountant in the State of Maryland.

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