Tracey A. Nichols

Director of Financial Services

Overview

Tracey recently joined Project Management Consultants after serving nearly nine years as director of economic development for Mayor Frank G. Jackson of the city of Cleveland. During her tenure, Tracey led her team to complete almost 900 projects, representing nearly $3 billion in investment in the city of Cleveland and creating and retaining more than 27,000 jobs. Tracey’s team also secured nearly $100 million in grants and pass-through funding.

Tracey is known for creating innovative programs such as the Vacant Property Initiative, which has resulted in the development of nearly 4 million square feet in vacant buildings and more than 100 acres of vacant land, creating and retaining over 7,500 jobs. She worked diligently to move the city of Cleveland forward by undertaking some of the most complicated financing projects, including the Flats East Bank, nuCLEus and Health Tech Corridor, as well as other projects large and small that have helped the city gain recognition for its economic resurgence.

Tracey has a degree in Business Management from Case Western Reserve University and is a certified Economic Development Finance Professional. Her work has been nationally recognized and she has been invited to speak at numerous conferences and events by organizations such as the Clinton Global Initiative, National League of Cities, National Brownfields Conference and the International Economic Development Council on topics including economic development finance, economic inclusion, transit-oriented development and redevelopment. Tracey has received the Cleveland Foundation’s Homer Wadsworth Award and was honored as Public Executive of the Year by Novogradac Journal of Tax Credits. She is a board member of the International Economic Development Council.

Experience
  • Stark Enterprises, nuCLEus Development Project: Developed public incentives for $500 million redevelopment.
  • 925 Euclid Avenue Redevelopment: Developed public incentives for $280 million historic redevelopment. Worked with State Historic Tax Credit Office to help bring Catalytic Credit to project.
  • Geis Companies, Ameritrust Redevelopment: Developed public incentives for the $180 million redevelopment of the Ameritrust complex including seeking and receiving HUD 108 financing.
  • Midwest Development Partners: Developed public incentives for $200 million development project in University Circle.
  • Applied Industrial Technologies: Developed public financing and incentive package for headquarters acquisition.
  • Flats East Bank: Developed public financing incentives for $700 million mixed-use redevelopment with 32 different sources of financing over four major asset classes. Negotiated collateral changes and re-financing.
  • Dealer Tire: Developed public incentives for headquarters project, keeping the company in Cleveland. Project included a TIF and HUD 108 financing.
  • First Interstate: Developed public incentives for the $112 million One University project.
Additional Experience
  • Developed the Vacant Property Initiative, which provided incentives that led to the redevelopment of over 4 million square feet of vacant space and more than 100 acres of vacant land.
  • Worked with public and private partners to develop the Health Tech Corridor, harnessing the business attraction capacity of the “Eds and Meds” in the area to attract over 100 companies and millions of dollars of investment to this transit-oriented development strategy.
  • Substantive experience using HUD grants and HUD 108 loan financing.
Distinctions
  • Robert W. Davenport Community Development Leadership Award Recipient, 2017
  • Named a Woman of Note by Crain’s Cleveland Business, 2015
  • Named Public Executive of the Year by Novogradac Journal of Tax Credits, 2015
  • Received the Excellence Award for Leadership from the Council of Development Finance Agencies, 2015
  • Received the North Coast Minority Media & Diversity Chamber’s MBE/Urban Professional Award for Government, 2015
  • Recognized by the Cleveland Foundation with the Homer C. Wadsworth Award for extraordinary accomplishment in the public or not-for-profit sector, 2010

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