The Atlanta Development Authority last week named Ernestine Garey as interim president until a permanent replacement is found. The change came after current president Peggy McCormick submitted her resignation. She will remain at her post until Wednesday.
McCormick headed up former Mayor Shirley Franklin’s transition team in 2002 and became president of the ADA in January 2007. She told the Atlanta Journal-Constitution that it was “just time” for her to step down. Franklin was term-limited out of office earlier this year.
Garey has served as the ADA’s managing director of housing finance for more than 10 years. She has overseen the issuance of more than $1 billion in housing revenue bonds since 1986, which helped create more than 15,000 units of affordable workforce housing.
The ADA is Atlanta’s official economic development agency, which is overseeing the largely bond-financed BeltLine redevelopment project.