Pennsylvania Avenue Development Corporation Law and Legal Definition

The Pennsylvania Avenue Development Corporation (“Corporation”) is an instrumentality of the U.S. carrying out a development plan for certain areas near the White House. The corporation was established by the Pennsylvania Avenue Development Corporation Act of 1972. However, the Corporation is subject to the Government Corporation Control Act (31 U.S.C. 841).

The business, property and affairs of the Corporation are managed and controlled by the Board of Directors. The Board may, at its discretion, delegate authority to officers and staff of the Corporation in order to carry on the ordinary operations of the Corporation. The Corporation provides a development program insuring that minority businesses, investors, and workers have an opportunity to share in the benefits that will occur as a result of redevelopment. It is also the policy of the Corporation to foster a progressive Affirmative Action Program providing minorities, women, handicapped persons, and Vietnam era veterans, a fair and meaningful share in the opportunities generated by the development activities of the Corporation. [36 CFR 906.1].