The Inner Arbor Trust announced Wednesday that Rafia P. Siddiqui, the former chief financial officer of Columbia Association, will be the trust's treasurer and chief financial officer.
Siddiqui, a Columbia resident, retired from CA in 2011, but worked as the homeowner's association's CFO since 1995. She worked for CA for over 30 years. She helped the organization obtain a AA bond rating and was responsible for placing $90 million in bonds, according to the announcement.
The Inner Arbor Trust is the organization headed up by the Inner Arbor Plan's designer Michael McCall, which has been tasked by CA's Board with implementing the development of Symphony Woods.
The Inner Arbor Plan features a cluster of buildings including restaurants, a community center, theater, and a new CA headquarters to be built in Symphony Woods. The plan also includes features like an elevated tree top walkway and a wooded amphitheater.
CA set aside $1.6 million in funds to provide seed money for the trust. The county set aside another $4.5 million to be administered by the Department of Finance and the Department of Planning and Zoning for the Symphony Woods area. Part of that, $3.5 million, has been earmarked to fund the amphitheater, while the other $1 million is to fund planning, design and engineering for a new center for the arts.
Siddiqui is familiar with plans to build a new CA headquarters in Symphony Woods. In a 2005 memo posted online from her to members of CA's Board, Siddiqui wrote about a number of options presented by consultants for new CA office space, eventually recommending the study of the Symphony Woods 36-acre site for new office space.
The trust also announced on Wednesday that they'll be using Howard Bank, specifically its CEO Mary Ann Scully, as its established "banking relationship." The bank is headquartered in Ellicott City and has locations in Annapolis, Columbia, Ellicott City and Laurel.
The trust was formed with the intention of becoming a nonprofit entity that can accept donations to help pay for the development of the Inner Arbor Plan. It is in the process of attempting to become a 501(c)3 charitable organization. As a 501(c)3 donors would be able to write off donations to the trust as charitable contributions on tax returns.
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