December 18, 2014
“The Economic Development Finance Professional Certification that I received in December 1994, the Housing Development Finance Professional Certification received in May 1999 as well as my attendance and participation in the biennial NDC Academies have proven to be invaluable to my professional development and PCCEO’s economic development.
The rigorous training required to complete the certifications is invaluable. Our development team of seven (all trained and certified by NDC), is responsible for the construction of 168 single family residences, using a combination of Low Income Housing Tax Credits and other affordable financing techniques, in several of Peoria’s most impoverished neighborhoods. The first project of 80 homes was funded at $6,812,600; the second project of 60 homes was funded at $5,966,654. We are currently initiating Year 16 activities for the OKPARA I project wherein we will begin to sell the homes to the residents that are prepared to purchase.
Through the relationships developed with Academy attendees, PCCEO’s development team was able to “pick the brains” of experts which enabled us to craft and execute a development agreement (The Spring Grove Subdivision) with the City of Peoria to complete a market rate project in an area that had been the victim of a stalled Urban Renewal Initiative which was dormant for a considerable period of time! The Spring Grove Development produced 28 “affordable” market rate homes which sold for an aggregate total of $3,883,185!!
I look at the National Development Council’s certification process and attendance at the NDC Academy as a knowledge and skill development investment which when used correctly, can produce has a tremendous return on investment for economically challenged areas of many communities!”
McFarland A. Bragg II, CCAP