Stacy Spann, head of the Housing Opportunities Commission of Montgomery County, has received a waiver from the county’s ethics commission allowing him to become CEO of local development company MidCity.
The Montgomery County Ethics Commission granted Spann the waiver Friday with a series of conditions aimed at avoiding conflicts of interest.
Granting the waiver was necessary because while Spann led HOC, a large number of its properties are managed by MidCity’s sister companies, Edgewood Management and Vantage Management. A Bisnow review of public records last month found that a majority of HOC’s third-party management contracts are held by Edgewood, and it renewed 12 contracts with Edgewood totaling over $800K in annual payments since October.
Ethics Commission Chair Susan Beard, in a letter granting the waiver, wrote that the commission determined the county’s one-year prohibition on government employees taking a job with a business with which they participated during the previous three years does apply in Spann’s case.
Click here to read the rest of the article written by Jon Banister over at Bis Now
