324:. As such, he was responsible for negotiating land leases and overseeing construction of several hundred homes at the resort, as well as amenities such as the golf course and the beach club. Throughout his professional career, Mr. Salazar has occupied several positions in the public sector. From 1971 to 1974, he was appointed Vice President of Finance and later promoted to President and General Manager of the Puerto Rico Industrial Company, Puerto Rico's largest real estate holding company. As Head of this Agency he was responsible for the acquisition, development, construction and management of industrial buildings to accommodate investors from the Mainland and from the Island. Puerto Rico Industrial Development Company owned at the time in excess of 120 million square feet of industrial space in Puerto Rico. In 1975 he transferred to the Government Development Bank for Puerto Rico as its President until 1976 to oversee the Bank's business during one of the most difficult financial crisis in the municipal bond market in the United States. From 1990 to 1992 he was appointed Administrator of the Economic Development Administration, the agency charged with implementing economic development policies on the island. In 2005 he went back to the Government Development Bank as its Chairman and later became its President until 2007. As Head of the bank, Mr. Salazar was responsible for financing major infrastructure projects of the Central Government and its public corporations. Some of these projects include the Coliseum, the Convention Center, several hotels such as Bahia Beach, the Sheraton, and the Condado Trio. In 2008 Mr. Salazar became the candidate of the Popular Democratic Party for the elected position of Resident Commissioner in the United States Congress. After his Party lost the elections, Mr. Salazar returned to the private sector and joined Fundación Carvajal as its Executive Director until 2015. He has been advisor to the Chairman of the Finance Committee in the House of Representatives and to the Speaker of the House.
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Among his major accomplishments was the creation of a new GDB subsidiary, COFINA, in
October 2007, to place sales tax revenue bonds in the municipal bond market in the United States and refinance about half of Puerto Rico's accumulated extraconstitutional debt. On July 23, 2007, Gov. Acevedo Vilá
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297:), where he occupied several executive positions including Country Head in Puerto Rico, Argentina and Brazil from 1977 to 1988. In 1989 he was appointed President of
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made it official when he announced that
Salazar had agreed to be his running-mate in the 2008 elections. Mr. Salazar is presently the President of the
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in Ponce, Puerto Rico. Given his extensive background in public policy, Mr. Salazar consults regularly with clients over the phone and in person.
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in the United States
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As one of Puerto Rico's "senior statesmen", Mr. Salazar joined 8 other GDB presidents in supporting HR 870, filed by
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From 1993 to 1998, Mr. Salazar was based in New York as
Managing Director in Investment Banking - Latin America for
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Mr. Salazar devoted most of his professional life to commercial and investment banking. He began working with
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He died on
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and GDB president during the first administration of Gov.
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Presidents of the Puerto Rico
Government Development Bank
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Mr. Salazar had a bachelor's degree in economics from
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New York
University Stern School of Business alumni
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354:and the Advanced Management Program at the
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267:Puerto Rico Industrial Development Company
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