Schmoke names CDFC vice president

MARYLAND WATCH

October 13, 1995

Mayor Kurt L. Schmoke yesterday announced the appointment of Wayne Frazier Sr. as executive vice president of the Community Development Financing Corp., a quasi-government agency that finances the renovation of dilapidated and vacant properties.

Mr. Frazier, who is vice president and chief loan officer at Harbor Bank of Maryland, will be paid $75,000 a year in the new post, which has been vacant for more than seven months. He replaces Frank B. Coakley, who was appointed assistant secretary of the state Community Development Administration in February.

Mr. Frazier, a graduate of Morgan State University, did not return repeated telephone calls yesterday.

The corporation is one of the city agencies that has heavily relied on the services of Shapiro and Olander, the Baltimore law firm with close political ties to Mayor Schmoke. Of the $2.43 million paid to the law firm in the last 4 1/2 years, $211,581 came from fees and expenses by borrowers in CDFC loans.

The mayor, who created the CDFC in 1989, said at a press conference yesterday that there are no plans to change the corporation's legal counsel.

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