News Release

MARTINEZ NAMES SEVEN TO NEW ADVISORY COUNCIL ON COMMUNITY RENEWAL
Diverse group will help local communities tap into billions of dollars in tax incentives

WASHINGTON - Housing and Urban Development Secretary Mel Martinez today announced the seven members who will serve on a new advisory council to help local communities to take advantage of billions of dollars in tax incentives to stimulate job growth and economic development. The advisory council is part of a wider effort to promote tax benefits to businesses located in 70 Empowerment Zones and Renewal Communities across the country.

The members of the new Advisory Council on Community Renewal are: Robert L. Woodson, Sr., founder and president of the National Center for Neighborhood Enterprise; Irwin L. Davis, executive vice president of the Metropolitan Development Association of Syracuse and Central New York, Inc.; Jon D. Fox, former Pennsylvania Congressman and law associate at Jaffe Friedman the Philadelphia area; Maurice L. Barksdale, president of Harrington, Moran, Barksdale and Day of Fort Worth, Texas; John D. Rood, chairman of The Vestcor Companies, Inc. of Jacksonville, Florida; Karen Juarez Boyd, president and founder of Lumen Financial of Pasadena, California; and, Lillian Kawasaki, general manager of the Los Angeles Community Development Department (see attached bios).

"Today we assemble a team from various walks of life for a common purpose - to help breathe new life into communities in desperate need of revitalization," said Martinez. "Using their wealth of experience, this new advisory council will help these communities to realize the promise of renewal through job growth and business development."

HUD's new Advisory Council on Community Renewal will assist local units of government, chambers of commerce and small businesses to learn about the benefits of billions of dollars in tax incentives to stimulate job growth, promote economic development and create affordable housing. Authorized by the 2000 Community Renewal Tax Relief Act, the new advisory council will help encourage public-private collaboration to generate economic development in these distressed communities.

Last year, Martinez announced eight new Empowerment Zones and 40 Renewal Communities as part of HUD's initiative to generate business activity and job growth in these distressed neighborhoods. Businesses that locate or remain in these designated areas are eligible to share in a wide variety of tax incentives - from wage credits, accelerated tax deductions, partial or total capital gains exclusions and increased bond financing to bring jobs and restore economic vitality to these distressed areas. To learn more about HUD's Community Renewal Initiative, visit it online.

To further promote tax incentives as an engine of economic development, HUD plans three regional workshops around the country in the next two months. These regional workshops will be an important opportunity for thousands of small businesses to save billions of dollars should they relocate or remain in these Renewal Communities and Empowerment Zones. The workshops will be held in the following locations:

• Jacksonville, Florida         April 28-29, 2003
• Memphis, Tennessee        May 6-7, 2003
• Tucson, Arizona              May 13-14, 2003

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities, creating affordable housing opportunities for low-income Americans, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet.

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