Excellent Salon, Program and LAI Member writings on TIFs to Rid Vacant Housing in Baltimore City

TIFs to Rid Vacant Housing in Baltimore City
January 8, 2025 4 p.m.
Johns Hopkins Carey Business School, Harbor East hosted by Lindsay Thompson
Discussion Leaders: Joe Meyerhoff & Keenan Rice 

The City of Baltimore is grappling with the problem of ridding its neighborhoods of 13,000+ vacant buildings.  In addition to using City and State appropriations and charitable donations, on December 2nd the City Council adopted legislation that authorizes the issuance of up to $150 million of bonds secured by non-contiguous tax increment financing (TIF) and lists nearly 8,000 specific properties to be included in the TIF district.  These bonds would provide funding for a portion of the gap between the cost of acquiring and renovating vacant buildings and their appraised value.  The discussion leaders for this LAI salon are Joe Meyerhoff the concept’s initiator and leading proponent along with Keenan Rice, President of MuniCap, Inc., the City of Baltimore’s TIF advisor. 

LAI Member Joe Nathanson’s Daily Record column

LAI Member Klaus Philipsen’s blog

Upcoming LAI Program: Baltimore’s New Strategy to Tackle Vacant Houses at Scale

February 19, 2025 Presentation & Lunch
Noon – Lunch
12:30 p.m. – Presentation University of Maryland BioPark 801 West Baltimore Street 

For decades part of Baltimore’s landscape has included more than 13,000 vacant homes and thousands more vacant lots, dragging down communities that also tend to be victims of 20th century redlining. Now, through the leadership of Mayor Brandon Scott, Governor Wes Moore, and others, a new City/State public/private partnership is generating the resources and pursuing a strategy designed to eliminate the problem as we know it in 15 years. Join LAI Baltimore for an insightful panel discussion where experts will lay out and discuss this new comprehensive effort. 

Bios

Alice Kennedy, Housing Commissioner

With over a decade of experience with the City of Baltimore, Alice Kennedy has become a pivotal force at the Baltimore City Department of Housing & Community Development. After serving as the Deputy Commissioner for Homeownership and Housing Preservation, she was named Acting Commissioner in August 2020 and was appointed Commissioner in September 2021. A graduate of Goucher College, Kennedy has cultivated expertise in planning and development, project management, operations, real estate, sustainability, and strategic planning. As Commissioner, she has focused on modernizing the Agency’s internal processes to enhance customer experiences and improve the efficiency of operations. A key partner in the Mayor’s Vacancy Reduction Initiative, she has spearheaded efforts to streamline property disposition and expand the acquisition of privately held vacant properties. Kennedy consistently emphasizes the critical intersection of health and housing within community development. With a solid commitment to equity in community development, she is focused on charting a new course for the city, addressing past economic and community development challenges, and honoring legacy residents.

 Michael Mocksten, Director of Finance

As the Chief Financial Officer for the City of Baltimore, Michael Mocksten (Moiseyev) brings a wealth of financial expertise and strategic leadership to the City’s administration. Mocksten is responsible for the day-to-day management of Baltimore’s $4 billion annual financial operations, including budget, procurement, accounting & payroll, revenue collections, treasury, and risk management. He serves as the strategic financial advisor to Mayor Brandon M. Scott and is a key architect of the City’s financial success.
Mocksten’s career in public service spans nearly two decades, with a focus on supporting large local governments. Prior to joining the Scott Administration in October 2022, Mocksten spent 16 years working in New York City, most recently serving as Deputy Commissioner of Finance for the NYC Administration for Children’s Services. In this role, Mocksten was responsible for managing a $3 billion operation and a team of over 300. He previously served in the NYC Office of Management and Budget (OMB), where he played a pivotal role in overseeing a $30 billion portfolio of education-related agencies, as well as founded and led a Citywide Savings team that worked with every city agency to find efficiencies and innovations across NYC’s $100 billion budget.
Mocksten earned a Master of Public Administration degree from Baruch College, and a Bachelor of Science in Mathematics from Carnegie Mellon University. As the City of Baltimore’s Chief Financial Officer, Michael Mocksten is dedicated to steering the city toward continued financial prosperity, ensuring that the economic policies align with the needs and aspirations of our community.

Keenan Rice, President at MuniCap, Inc

Keenan Rice is the founder and president of MuniCap, a municipal advisor registered with the SEC and the Municipal Securities Rulemaking Board that specializes in public investment in real estate development. Under Mr. Rice’s direction, MuniCap has grown to become one of the ten largest municipal financial advisors in the country with experience in over thirty states and the District of Columbia. With thirty-five years of experience in the field, Mr. Rice has become a recognized national authority on tax increment financing and other forms of bonds issued to support real estate development. Mr. Rice’s certifications include being a Municipal Advisor (Series 50), Municipal Advisor Principal (Series 54), and Investment Advisor Representative (Series 65). Prior to founding MuniCap in 1997, Keenan was the director of the D.C. office of a major public finance consulting firm, a principal at one of the leading public finance consulting firms in California, a vice president at a major real estate development firm, and a real estate development loan underwriter for a financial institution.