David K. Elam
In April of 1994, David K. Elam, a 1972 graduate of Andrew Lewis High School in Salem, Virginia, was named to administer a $750-million investment plan to help low and moderate income families buy homes in the City of Baltimore. Moving from being Development Director of the Baltimore Department of Housing and Community Development, which he had held since 1989, he took on the directorship of the newly established Fannie Mae office, a federally chartered agency that is the nation’s largest source of home mortgage funds. From 1994-1999, David’s office is expected to make over 10,000 loans.
After high School, where he played freshmen football, David received a Bachelor of Arts degree from Hampton University in 1979. In 1980, he received a Masters of Urban and Regional Planning at the University of Pittsburgh. David then began an 18-month internship involving all operations of HUD’s (U.S. Department of Housing & Urban Development) Baltimore Office which included property management/ valuation/ disposition and skills to assist local governments and developers in obtaining funding for projects entailing approximately $32 million.
In 1985, he became Treasurer of the Market Center Development Corporation of Baltimore, moving to Vice President of Finance and Administration in 1987, whose corporation arranged over $5 million worth of project financing.
As Chief Development Officer of the Baltimore Department of Housing and Community Development, David directed a 70-person staff which delivered over $300 million in both business and residential housing development financing from 1989 to 1994 when he went with Fannie Mae’s Baltimore Partnership Office.
David is married to Carol Boston Elam; their children are David the II, Kari, Alex, and Nicole. And of course, they live in Baltimore, Maryland, where he is a member of the Associated Catholic Charities and St. Joseph’s Medical Center Foundation Board of Directors.
David holds the following awards: The City of Baltimore Mayor’s Citation for Public Service, the Baltimore Marketing Association Award of Appreciation for Leadership, and the Development Credit Fund Award of Appreciation for Dedicated Service. Additionally, he served as panelist and presenter at the International Urban Fellows Conference on “Privatization and Habitat in Rumania” held in Bucharest, Rumania; and, among other commitments, was Chairman of the Board of the Development Credit Fund, a non-profit lender created by six banks to lend to small and minority-owned businesses throughout Maryland, already to the tune of over $20 million.
In recognition of his outstanding career achievements, David K. Elam was among the charter members inducted into the Salem Alumni Hall of Fame established by the Salem Educational Foundation and Alumni Association in 1996.
