MAYOR NUTTER ANNOUNCES NEW APPOINTEES TO PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT

Philadelphia, March 24, 2010 – Mayor Michael A. Nutter announced today the appointment of Thomas Queenan, Evelyn Smalls, David Hyman and Dr. Harold Yaffe to the Philadelphia Authority for Industrial Development. The newly appointed Board members will assume the positions formerly held by William Harvey, Cheryl McKissack, and Alan Nochumson. James McManus will continue to serve as Chair of the Board, Tom Queenan was elected Vice-Chair and Ms. Smalls was elected Treasurer.rnrn“I’m confident that Thomas, Evelyn, David and Harold will apply their diverse professional backgrounds to contribute innovative ideas to Philadelphia’s commercial development process,” said Mayor Nutter. “I look forward to continuing the collaboration with the current and new Board members who will assist with expanding on Philadelphia’s economic development.” Peter Longstreth said, “The Mayor’s appointments to the PAID Board brings a valuable mix of business experience and professional expertise that will guide the Authority’s real estate and financial activities while supporting the City’s economic development priorities.”rnrnThomas Queenan currently serves as the Associate Vice-President for Treasury Services at Temple University Health Systems. Evelyn Smalls is President & CEO of the United Bank of Philadelphia. David Hyman is a Managing Partner at Kleinbard Bell & Brecker and Dr. Yaffe is a practicing partner at the Dental Spa in Philadelphia. The Philadelphia Authority for Industrial Development, a five member Board appointed by the Mayor of Philadelphia, has the power to issue tax-exempt bonds to finance the capital needs of nonprofit organizations and eligible commercial and industrial businesses. In addition, PAID can finance other economic development projects permitted by the Internal Revenue Code and Economic Development Financing Law.