By J. K. Schmid, Special to the AFRO

Baltimore Ex-Officio Mayor Bernard “Jack” Young announced the replacement of Baltimore Development Corporation (BDC) President and CEO April 15.

Colin D. Tarbert, IV will succeed William H. Cole, IV.

Tarbert, a 13-year veteran of city government, previously served as deputy mayor to Stephanie Rawlings-Blake. His previous experience with BDC includes positions as Inner Harbor coordinator and senior economic development officer.

Baltimore Ex-Officio Mayor Bernard “Jack” Young. (Courtesy Photo)

“Colin is well prepared for this role,” Young stated in a press release. “He has been intimately involved in every major project in Baltimore over the last decade and has led several key initiatives over two different administrations. BDC is very well positioned in his capable hands.”

Cole, a former city councilman, held the BDC president and CEO position since 2014.

Young’s statement credited Cole with the creation of Business Recovery Loans and Storefront Recovery Grants, through BDC. The financial instruments were touted by BDC as a means of relief to businesses damaged during the Uprising following the death of Freddie Gray in 2015.

“Bill has been a tremendous leader, promoting the City while growing jobs and investment during his time at BDC,” Young stated.  “His energy and commitment to the city is unwavering.  Even though he is leaving BDC, I know he will continue serve the citizens of Baltimore.”

“The BDC Board is grateful to Bill for his many years of service to the City of Baltimore.  His tireless advocacy, leadership through challenging situations, and optimism for our City will be missed,” Augie Chiasera, BDC Board Chair, said of the change in leadership. “At the same time, we know that Colin is the right person to lead us forward. He has worked closely with Bill for many years and has played an integral role in every major project.  Colin simply knows how to get things done and we are very excited about the future of BDC.”

Cole is the second high-ranking official to vacate his city post while Mayor Catherine Pugh continues to take an indefinite leave of absence.

The first to step down was Jim Smith, a lender to the Pugh campaign and Chief of Strategic Alliances.

While the mayor remains out of office, the members city council (except Young) and the Greater Baltimore Committee have called for her resignation in light of revelations coming from the Healthy Holly scandal.

Tarbert is still named as a deputy in the same Strategic Alliances office as Smith, according to the the Mayor’s Office website.