1. Community Economic Development Philosophy and Processes NASCSP Mid-Winter Conference March 1, 2012 Washington D.C. Bryan Phipps Vice President for Development People Incorporated of Virginia

2. 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

3. 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

4. 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

5. CED Roles Sponsor Developer General Contractor Owner Manager Service Provider Investor

6. CED Processes Pre-Development Legal Documentation Construction Implementation Ongoing monitoring and compliance

7. Pre-Development CSBG can be an important resource Determine project feasibility Capital intensive Develop strategic relationships Define roles and responsibilities Financial structuring

8. 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

9. Heartwood Artisans Center, Abingdon, Virginia

10. Grundy Town Center, Grundy, Virginia

11. Patrick Henry Hotel, Roanoke, Virginia

12. 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

13. THANK YOU Bryan Phipps Vice President for Development People Incorporated of Virginia 1173 West Main Street Abingdon, VA 24210 PH: 276.623.9000 bphipps@peopleinc.net