community economic development philosophy and processes nascsp mid-winter conference march 1, 2012...
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Community Economic DevelopmentPhilosophy and Processes
NASCSP Mid-Winter ConferenceMarch 1, 2012Washington D.C.
Bryan PhippsVice President for DevelopmentPeople Incorporated of Virginia
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Agency Overview• Chartered in 1964 as the first
rural Community Action Agency in the U.S.
• Serve 10 jurisdictions in Southwest Virginia and Northern Shenandoah Valley region of Virginia
• Operate 30+ programs in Child & Family Development, Housing, Community Services, Workforce Development, and Community Economic Development
• 275 employees, $18 million budget
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Philosophy • Community Development is crucial to
providing low-income people with opportunities to move into the economic mainstream
• View Community Development as an integral part of mission
• Repositioned agency as a development group, rather than a social service agency
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Organizational Development
• Began business lending and affordable housing development in early 1990's
• Established affiliate corporations in the early 2000's to access additional funding streams
• Built internal staff capacity to promote
growth and sustainability
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CED Roles• Sponsor
• Developer
• General Contractor
• Owner
• Manager
• Service Provider
• Investor
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CED Processes
• Pre-Development
• Legal Documentation
• Construction
• Implementation
• Ongoing monitoring and compliance
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Pre-Development• CSBG can be an important resource
• Determine project feasibility
• Capital intensive
• Develop strategic relationships
• Define roles and responsibilities
• Financial structuring
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Considerations• Community Needs
• Local support
• Consistency with mission
• Jobs creation potential
• Long term benefits for low-income people and communities
• Project readiness
• Return on Investment
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Heartwood Artisans Center, Abingdon, Virginia
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Grundy Town Center, Grundy, Virginia
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Patrick Henry Hotel, Roanoke, Virginia
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People Incorporated's Accomplishments FY2011
•47 businesses financed
•364 full time jobs created
•535 construction jobs created
•205 jobs retained
•17 first time homeowners
•219 apartments purchased/rehabilitated
•221 homes rehabilitated
•$1,064,054 in Developer's fees
•$873,563 in financing fees
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THANK YOU
Bryan PhippsVice President for DevelopmentPeople Incorporated of Virginia
1173 West Main StreetAbingdon, VA 24210