October Board Meeting Agenda

ECONOMIC DEVELOPMENT AUTHORITY Regular Meeting October 22, 2020 4:00 PM Board Meeting Agenda

I. Call to Order

II. Public Comment (Maximum of Three Minutes Per Person)

III. Minutes of the Board Meeting for: A. September 24, 2020 Regular Board Meeting

IV. Presentations A. City of Richmond Five-Year Consolidation Plan for HUD

V. Unfinished Business

VI. New Business for Board Action A. Monarch Consulting Contract Amendment B. Washington Football Team Option Agreement C. Emergency Childcare Initiative and Cooperation Agreement

VII. Old Business

VIII. Committee Reports A. Loan Committee B. Audit and Finance Committee 1. September Finance Report 2. Small Business Development Center C. Executive Committee D. Special Project Committee E. Communications Committee

IX. Report of the Officers A. Report of the Chairman B. Report of the Secretary 1. EDA Bylaws & Board Manual 2. Virginia Industrial Development Authorities Institute/Virginia Institute for Economic Development – November 16-17, 2020 (Virtual)

X. Other Business A. Department of Economic Development Update 1. DED Staffing Update 2. Grant Programs Update 3. FY20 Economic Development Annual Report/Snapshot 4. Marketing Services RFP Scope of Work

XI. Executive Session (If Needed)

XII. Adjournment Upcoming Meetings Board Meeting – November 19, 2020 @ 4:00pm (Electronic Meeting) Loan Committee Meeting – November 12, 2020 @ 3:00pm (Electronic Meeting) Finance Committee Meeting – November 12, 2020 @ 4:00pm (Electronic Meeting) PUBLIC MEETING NOTICE

WHAT: The City of Richmond’s Economic Development Authority will hold its regular monthly meeting electronically.

WHEN: Thursday, October 22, 2020 at 4:00 P.M.

WHERE: This meeting will be held through electronic communication means pursuant to and in compliance with Ordinance No. 2020-093, adopted April 9, 2020 by Richmond City Council.

This meeting will be open to participation through electronic communication means by the public and closed to in-person participation by the public. Board members and other staff will participate by teleconference/videoconference via Microsoft Teams.

Instructions on how to access the meeting are provided below.

A copy of the meeting agenda can be found at http://www.richmondeda.org/eda-meeting-schedule

Meeting Access:

To participate in the Economic Development Authority meeting on Thursday, October 22, 2020 at 4:00 P.M., you have the following options: Accessing the Meeting: 1. Access the meeting by phone You may listen to the meeting (audio only) from your phone by dialing *67-804-316-9457 and when prompted, enter Conference ID 741 947 650#. (Dialing *67 prevents your phone number from being displayed publically). Please mute your phone. 2. Access the meeting online by computer, tablet or smartphone (audio and video) To access the meeting via Microsoft Teams use the following link:

Join Microsoft Teams Meeting

How to provide public comment on agenda items prior to the meeting Citizens are encouraged to email comments in writing to [email protected] in lieu of speaking through audio or video means during the meeting. All written comments received via email prior to 12:00 P.M. on Thursday, October 22, 2020, will be provided to all members of the Economic Development Authority prior to the beginning of the meeting and will be included in the record of the meeting. When submitting your comments by email, be sure to include in your email address (i) your full legal name, (ii) any organizations you represent, and (iii) any economic or professional relationships that would be affected by the matter on which you are commenting. The person responsible for receiving written comments is George Bolos, staff to the EDA. How to provide public comment regarding items on the agenda during to the meeting If you are accessing the meeting by phone or via Microsoft Teams and you would like to speak during the meeting’s public hearing(s), you will be asked to do so during the meeting at the appropriate time, and the applicable time limits will be enforced. The meeting organizer will facilitate public comments.

MEETING MINUTES Economic Development Authority of the City of Richmond, Virginia September Board Meeting Minutes September 24, 2020 Board Meeting Minutes

Due to the closure of City offices to the public, this meeting was held through electronic communication methods pursuant to and in compliance with Ordinance No. 2020-093, adopted April 9, 2020 by Richmond City Council. This meeting was open to public participation through electronic communication means and closed to in-person participation by the public.

EDA Committee members and City staff participated in this teleconference/videoconference via Microsoft Teams. Prior to the meeting special guidelines for public access and citizen participation were available online and posted outside of the Department of Economic Development’s office located at 1500 East Main Street. There were multiple ways for the public to observe or participate in the meeting. These options are explained on the EDA’s webpage: http://www.richmondeda.org/eda- meeting-schedule

Members present: Nupa Agarwal Vice-Chair Hossein Sadid Nathan Hughes Evan Feinman Marquia Gunn Neil Millhisser

Others present: Glenn Major, General Manager, Bon Secours Training Center, ASM Global Lisa Jones, AG Reese Leonard Sledge, City of Richmond – Department of Economic Development, EDA Secretary Rick Winston, City of Richmond – Department of Economic Development Bonnie Ashley, City Of Richmond – City Attorney’s Office George Bolos, City of Richmond – Department of Economic Development

Call to Order: Ms. Agarwal, Vice-Chair of the EDA, called the meeting to order at 4:00pm and presided over the meeting. Mr. Sledge recorded the meeting using Microsoft Teams.

Public Comment: Ms. Agarwal asked if there were any members of the public who wished to make a comment. No members of the public participated.

No public comments were received via email, phone or otherwise by staff.

Mr. Sledge read a public disclaimer that was posted in the public meeting notice posted on the Economic Development website.

No comments from the public.

1 Minutes for the board meeting for June, July and August 2020 meetings passed in the affirmative with one minor change asked by Mr. Millhisser for a statement made incorrectly for the record.

Audit and Finance Committee Report - Mr. Sadid discussed the draft of the EDA’s audited financial statements for the period ending June 30, 2020 as presented to the committee by Brown-Edwards. The draft audit was provided in the Board meeting package and included the auditors opinion. On page 3, there is an analysis between FY2019 and FY2020 providing a wealth of information for the Board members to review. Following this narrative, the actual financials are on page 6 summarizing the financial activities of the past year with the main focus being placed on the Leigh Street Training Facility, the Theater and the Stone Brewing facility. No significant financial abnormalities were reported for these sites. The notes to the financial statement are presented on page 15 and the footnotes for FY2020 are similar to the footnotes for FY2019 with the exception of a couple of key footnote changes in FN #9 and FN# 13 that are clearly spelled out in the narrative focusing on the loans related to COVID-19. Ms. Jones had no interjection into the report. Mr. Sledge highlighted one item in the auditor’s footnotes on page 26 regarding the $600,000 for the Disaster Loan Payment for the CARE Program. The audit team reassured the Board that the audit was clean with an unmodified opinion to the most recent audit. There is a plan in place to regroup with the auditors of Brown-Edwards in February, 2021 to review the EDA’s performance to create policies and procedures to correct items highlighted in the audit. Mr. Sadid made a motion to adopt the FY20 EDA audit. The motion did not require a second as the EDA Audit and Finance Committee approved a motion to approve the report. There was no discussion. The motion passed unanimously.

Unfinished Business - There was no unfinished business.

New Business – There was no new business

Loan Committee – There was no report from the Loan Committee

Executive Committee – There was no report from the Executive Committee

Audit and Finance Committee – Mr. Sadid reported that Stone Brewing made their August rent payment and the Leigh Street Facility generated a positive variance of $18,500 for the month of August, a positive cash flow of $42,000. He also reported a lower anticipated profit projected at $318,000 for the year due to the cancellation of events and programs at the facility. Mr. Sadid reported that the balance sheet looks healthy with cash flow coming in from rentals at the facility.

Special Projects – There was no report on special projects

Communication Committee – There was no report from the Communications Committee

Report of the Chairman – There was not report from the Chair

Report of the Secretary – Mr. Sledge announced the hiring of two new staff members in the Department of Economic Development (Casey Gilchrist – Senior Manager and Devin Wood – Marketing Manager). Mr. Sledge discussed compiling information related to the Washington Football Team’s desire to continue using the Leigh Street Facility for training camp. Mr. Sledge also discussed how staff would be working on marketing activities for the EDA and Department of Economic Development.

2 The Board discussed training opportunities for the EDA.

Motion to adjourn and passed unanimously. Meeting adjourned at 4:39pm

Respectfully submitted

Secretary to the meeting

Approved:

John Molster, Chair

CONSOLIDATION PLAN PRESENTATION City of Richmond Five-Year Consolidated Plan

2021-2025 Consolidated Plan

Virtual Public Meeting October 22, 2020 What is the Consolidated Plan? Serves as the City of Richmond’s

 Community Development Plan  Submission for funding under HUD programs: . Community Development Block Grant (CDBG) . HOME Investment Partnerships (HOME) . Emergency Solutions Grant (ESG) . Housing Opportunities for Persons with AIDS (HOPWA) Community Development Block Grant  CDBG activities:

 Acquisition of Real Property

 Disposition of property

 Public Facilities & Improvements

 Clearance & Demolition

 Public Services (15% cap)

 Removal of Architectural Barriers

 Construction of Housing

 Direct Homeownership Assistance

 Micro Enterprise Assistance

 Rehabilitation

 Lead Based Paint Community Development Block Grant

 CDBG activities continued:

 Code Enforcement

 Historic Preservation

 Economic Development

 Administration (20% cap) HOME Investment Partnerships

 HOME activities:

 Acquisition of Real Property

 Rehabilitation

 Homeownership assistance

 New construction of housing

 Program Administration (10% cap)

 CHDO capacity building Emergency Solutions Grant

 ESG activities:

 Street Outreach

 Emergency Shelter (60% cap)

 Homeless Prevention

 Rapid Re-housing

 Homeless Management Information System (required)

 Administration (6% cap) Housing Opportunities for Persons With AIDS

 HOPWA activities:

 Housing Infor & Counseling

 Resource Identification

 Acquisition, Rehab, Conversion & repair facilities

 Lease of facilities

 New Construction of housing

 PBRA or TBRA

 STRMU

 Supportive Services

 Operation costs for housing facilities

 Administration (3% cap) Plan Components:

 Community Profile  Housing and Homeless Needs Assessment  Housing Market Analysis  Strategic Plan  Action Plan (Annual Component)  Certifications Community Profile Data source: U S Census

 Population 230,436  24.5% of area individuals below poverty level  47.8% African American, 45.4% White, 6.7% Hispanic  Median Household Income $45,117  Property Value and Homeownership rate lag behind that of Chesterfield and Henrico counties Richmond 42.2%; Chesterfield 75%; Henrico 62.7% Housing and Homeless Needs Assessment  Summary of estimated housing needs  Number and type of households in need  Homeless needs  Population segment with special needs . Elderly . Disabled . Addiction/Dependency . Persons with AIDS  Lead-based paint hazards Housing Market Analysis

 Significant characteristics of housing market  Public and assisted housing  Homeless facilities  Special need facilities and services  Barriers to affordable housing Strategic Plan

 Outlines the general priorities for allocating funds geographically, by activity and by need  Sets out rationale for establishing the allocation priorities to each category of need  Identifies obstacles to meeting underserved needs  Summarizes the priorities and specific objectives The Strategic Plan Addresses:

 Affordable  Barriers to Housing affordable  Public Housing housing  Lead-based paint  Homelessness hazards  Other special  Anti-poverty needs strategy  Non-housing community  Coordination development plan  Neighborhood revitalization Annual Action Plan

 Concise Executive Summary including: . Objectives and outcomes identified in the plan . Evaluation of past performance . Summary of citizen participation and consultation process Annual Action Plan

One-year Goals:  Summary of resources and anticipated annual  Affordable housing objectives  Homeless and other  Description of special needs activities to be undertaken  Barriers to affordable housing  Specific outcome measures  Program specific requirements  Geographic distribution Certifications The City agrees to administer the funds and programs in compliance with HUD and other federal regulations. Needs Assessment

. Housing Problems & Trends

. Housing Needs by Income Categories

. Homeless Needs for the Next Five Years

. Housing & Service Needs of Non-Homeless Populations with Special Needs

. Lead-Based Paint Hazards

. Non-Housing Community Development Needs CDBG Program Goals:

 Decent housing  A suitable living environment  Expanded economic opportunity Development of the Strategic Plan

HUD Statutory Program Goals

Council and Needs Administration Assessment Priorities Strategic Plan Goals and Strategies

Consultation Citizen with Clients and Participation Providers Existing Strategic Plan Priorities

 Priority I: Housing Needs 1. Home-Ownership . Existing Homeowners . New Homeowners 2. Decent & Affordable Rental Housing 3. Housing for Persons with Special Needs . Elderly Homeowners . Persons with Disabilities . Homeless Families & Individuals Existing Strategic Plan Priorities

 Priority II – Non-Housing Needs

(Community Development Goals)

1. Economic Development 2. Public & Human Services 3. Public Safety 4. Public Facilities 5. Planning & Administration Citizen Participation Process

 HUD requires the city to develop and follow a Citizen Participation Plan in order to provide for and encourage citizen participation in the development of the Consolidated Plan, any substantial amendments to the plan, and performance reporting. The Plan ensures:

. Access to Documents and Information . Public Notice of Pending Action . Opportunity to Comment at advertised Public Hearings Summation and Questions

 Now through October 16, 2020, the Department of Housing and Community Development will be holding a series of virtual Consultations and Public Meetings.  January, 2021 all information will be formatted into the draft 2021-2025 Consolidated Plan for review and approval by City Administration and City Council and submission to HUD by May 15, 2021. ? ? ? ? ? ? Thank you for your participation

Contact Information:

Housing and Community Development Michelle Peters 646-3975 or [email protected]

MONARCH CONSULTING CONTRACT ADDENDUM Monarch Consulting Services, LLC

April McKelvey

President 02-03-2020

President

02-03-2020

FINANCE REPORT

Glenn Major - Verbal Approval

Dolly Vogt, Verbal Approval

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

SMALL BUSINESS DEVELOPMENT CENTER

August 27, 2020

Department of Economic Development City of Richmond 1500 East Main Street Suite 400 Richmond, Virginia 23219

Dear Mr. Sledge and Ms. Foster,

Across the state, Small Business Development Centers (SBDC) are key resources to their communities. Most recently, their role supporting communities during the COVID-19 crisis was especially important. They helped guide businesses and communities through the multiple SBA resources and provided other critical support. The only region in the Commonwealth that does not have access to a dedicated center is the Greater Richmond Region (GRVA). The GRVA footprint includes the following localities and counties: the City of Richmond, the Town of Ashland, Chesterfield Co., Henrico Co., Hanover Co., Goochland Co., Powhatan Co., and New Kent Co. The GRVA SBDC stopped operating in August 2018 after the local host organization was not able to secure local matching dollars for the SBA funds. The Virginia SBDC Network and local stakeholders decided to let the center go idle at the time. During the COVID-19 crisis it became clear to the regional economic development leaders that the lack of a SBDC is leaving a significant gap in the GRVA ‘s ecosystem.

SBDCs provide one-on-one confidential counseling to small businesses and aspiring entrepreneurs. The main areas of assistance are access to capital, marketing, business planning and start-up guidance. SBDC performance measures include total clients counseled, hours of counseling and client verified impacts of new capital formation, business starts and jobs created or retained. Activities and impacts are maintained for all clients and aggregate data can be provided by county or city. Specific client details are confidential and not shared with SBA, funders or partners; however client testimonials are regularly shared with permission.

110 Peppers Ferry Road, N.W. 7814 Carousel Lane, Suite 100 207 Granby Street, Suite 201 Christiansburg, VA 24073 Richmond, VA 23294 Norfolk, VA 23510 540.260.3126 804.344.5484 757.962.1268

vacommunitycapital.org

VIRGINIA SBDC NETWORK Annual Results 2016 - 2020 (YTD) 2020 Activity and Impact 2019 2018 2017 2016 (Jan-July)

Clients Counseled 4028 4162 4067 4244 3984 Counseling Hours 13,421 20,199 20,921 18,654 17,275 Capital Formation $85.8M $84.4M $57.3M $62.1M $44.5M New Business Starts 77 260 259 218 243 Jobs Created/Retained 3759 5693 3796 3453 4207

An annual economic impact study of SBDC counseling activities in Virginia shows that Virginia SBDC clients grow faster and create more jobs than the average Virginia business. The most recent study was released in 2019 based on results from 2017 clients. (Source: Dr. James J. Chrisman, Economic Impact of SBDC Counseling Activities in Virginia: 2017-2018)

33% Virginia SBDC client 28% businesses 23% GROW faster 18%

and 13% SBDC Clients CREATE more jobs 8% VA Average than the average 3% Virginia business -2%

Sales Growth Employment Growth

Jody Keenan, State Director of the SBDC Network has asked VCC to consider becoming the host organization for an SBA funded SBDC in the Greater Richmond Region (GRVA). The request from the Network comes with a one- time $192,000 grant to start the center. An additional $132,000 in matching dollars is required to fully fund center in its first year. Once the first year of funding is distributed, the SBDC will be eligible to receive $155,000

110 Peppers Ferry Road, N.W. 7814 Carousel Lane, Suite 100 207 Granby Street, Suite 201 Christiansburg, VA 24073 Richmond, VA 23294 Norfolk, VA 23510 540.260.3126 804.344.5484 757.962.1268

vacommunitycapital.org

of SBA grant dollar but this requires a 1:1 local cash match. With this understanding, we are requesting an initial investment in the launch and a multi-year commitment from our local government stakeholders.

The proposed funding breakdown is based on a percentage share per locality of the most recent Virginia Employment Commission data of small businesses in each jurisdiction totaling $155,000. We anticipate enhancing these funds with in-kind and private sector support to help restart and operate the SBDC for the next three years. The project costs, including two full-time staff and operational costs, are approximately $325,000.

GRVA SBDC Small Businesses (250 & Locality % of Share of Localities under) region Contribution Ashland 500 1.20% $1,858.60 Chesterfield 10,636 25.51% $39,536.19 Goochland 859 2.06% $3,193.08 Hanover 4,423 10.61% $16,441.20 Henrico 12,796 30.69% $47,565.35 New Kent 545 1.31% $2,025.88 Powhatan 840 2.01% $3,122.45 Richmond City 11,099 26.62% $41,257.25 41,698 100.00% $155,000.00

Based on VEC small business data and an equitable agreement by the localities we are requesting $41,257 from the City of Richmond in the first year and $41,257 of matching funds in year two and three to help relaunch and operate the Greater Richmond Region’s SBDC. We understand this request is outside of a typical budget cycle, but we believe that regional SBDC is needed more than ever due to the current pandemic and the need to support local start-ups and existing businesses.

Sincerely,

Leah Fremouw Vice President, Director of Community Innovation & Marketing

110 Peppers Ferry Road, N.W. 7814 Carousel Lane, Suite 100 207 Granby Street, Suite 201 Christiansburg, VA 24073 Richmond, VA 23294 Norfolk, VA 23510 540.260.3126 804.344.5484 757.962.1268

vacommunitycapital.org

GREATER RICHMOND REGION SMALL BUSINESS DEVELOPMENT CENTER June 19th, 2020

Description of the organization including organization’s structure, existing service offerings, experience in assessing small business needs and designing programs that respond to those needs. Describe the success of any such programs.

Virginia Community Capital (VCC) is a statewide non-profit, Community Development Financial Institution (CDFI) whose mission is to offer innovative, flexible financial products and technical assistance designed to support housing and community development ventures, increase jobs and build sustainable communities. As a state-chartered CDFI and banking entity, VCC, with assets of over $275 million providing innovative loan and investment solutions for affordable housing and economic development projects in Virginia. VCC has offices in Christiansburg, Richmond, and Norfolk, Virginia. We lend approximately $100million per year and offer loan capital that is broader than bank lending to projects that have a positive community impact for low- to moderate-income communities in underserved geographies and markets. Starting with $15 million in 2006, VCC has originated $636 million in loans, leveraged an additional $1.1 billion for total community impact of over $1.7 billion, and created over 7,900 jobs. Additionally, over 70% of our lending and advisory services have been to projects that benefit a low-moderate income targeted population in Virginia.

VCC's financial products and services are designed to address community economic development needs in Virginia by increasing the availability of affordable financing and services to help businesses, community organizations, and nonprofits expand and grow. VCC accomplishes this by: • Longer terms than traditional financial institutions and loan • funds 20-25 years vs 15-20 years • Interest-only payments for construction periods • Higher loan to value limits than traditional financial institutions • 85% vs 80% • Providing small businesses with loan products combined with Technical Assistance (TA) to assist business owners & build the knowledge and skills for continued profitability and sustainability

As a certified CDFI, VCC is required to provide development services in conjunction with its financing. As of December 31, 2019, VCC has provided over 28,000 hours in free advisory services which include 1:1 technical assistance, board service focused in economic development and/or affordable housing, tax credit workshops, and financial/savings education. More than 75% of these services are provided to LMI individuals or organizations that serve LMI individuals.

Experience providing small business counseling and/or training programs on a region-wide basis

Virginia Community Capital is dedicated to assisting small business owners access to capital to ultimately grow and sustain their business. In addition to offering financing to small business, VCC offers technical assistance to develop sustainable and financially stronger business enterprises. This leads to job creation and investment in communities while also attracting and retaining goods and services for the community.

Many of VCC's small business lending target entrepreneurs in challenged markets. The financial products are used in combination with Small Business Advisory Services to assist low-income, minority, and rural firm's borrowers with strategic planning, financial analysis and projections, capitalization strategies, operational deficiencies, human resources and marketing. VCC offers development services, at no charge, to our clients. Over the past five years, VCC has successfully implemented several regionally and place-focused models designed to spur economic growth and build off of existing initiatives. In concert with strategic partners, VCC has successfully launched and executed the following small business development programs over the last five years:

• Jeff Davis Corridor Small Business Development and Loan Fund Program – Richmond, VA • Brookland Park Boulevard Small Business Development Program – Richmond, VA

• New Economy Small Business Development and Loan Fund Program –nine counties in the Southwest Virginia Region • Thompson Foundation Small Business Development Program – Tazewell and Buchanan Counties in Southwest Virginia • Resilient Communities Small Business Development and Loan Fund Program – State-wide • Virginia Fresh Food Loan Fund and Development Services – State-wide

Strategy for providing one-on-one counseling and training to existing and aspiring new small businesses;

Technical assistance is an effective and necessary tool that small businesses depend on for responsible growth and access to capital. Many small business owners are unaware of how to track their businesses’ financial strengths and are unable to demonstrate the ability to generate the income needed to secure growth financing. VCC’s current technical assistance focuses on helping these small business owners understand and identify their financial strengths and weaknesses, develop a plan to address operating inefficiencies to capitalize on sales opportunities and analyze their ability to manage cash flow and debt capital. Through the Greater Richmond Small Business Development Center (GRVA SBDC), VCC will enhance its technical assistance offerings further through the deployment of business challenges and workshops, with 1:1 technical assistance for those in the greater Richmond region.

The GRVA SBDC hosted at VCC will use a standardized process for prioritizing and referring the businesses to its suite of resources. VCC has developed a custom small business technical assistance scorecard to assess eligibility, community need, and organizational and management capacity. This assessment will be used to determine what in-house services or resources are a match for the client and which business need(s) needs to be referred to a partner.

In addition to one-on-one support, the GRVA SBDC will scale up to deliver the following strategies to support its regional business community.

1. Business development workshops

The GRVA SBDC will organize and host small business workshops on varying topics. These workshops are intended to guide entrepreneurs to training programs, developing outdoor recreation business, marketing, business management, launch aids, and capital sources. Each session would be video streamed on Facebook and archived on YouTube providing an OnDemand professional development experience for new and expanding businesses within the service area. This initial outreach and education will generate more requests for 1:1 counseling and support. Additionally, VCC, as the hosting organization, has embedded expertise in clean energy, food enterprises, real estate development, and other unique sectors that can drive some of the content development.

2. Community business challenge program

VCC has developed a business challenge program consisting of a six-session course with a business pitch competition. This program provides individuals starting or growing business with resources, mentoring, and investment. Participants learn about business formation, creditworthiness, federal, state and local resources, financing, marketing, management, developing a business plan, and pitching a business idea. They get expert advice in payroll, law, accounting, insurance and taxes. At the end of the training, participants pitch their business idea in a competition and earn prizes. The awards consist of prize money from local government, entrepreneurs and banks, and in-kind services from CPA and law firms. The program is a powerful means to catalyze and connect the community. Using this model, the GRVA SBDC would convene and coordinate with localities and economic development authorities to pool resources and efforts for greater program reach.

3. Online and digital resources

Small Business Digital Toolbox - develop new or curate existing templates, guides and videos to be offered on a special section of the GRVA SBDC website, including the business development videos and business competition materials mentioned above.

In addition to the listed strategies, the GRVA SBDC will regularly work with the regional leaders to develop new and innovative programming based on real-time feedback and needs cited by an advisory group. This advisory group will be established in parallel with the center’s launch and supported by the center’s staff.

Strategy for covering the greatest extent of geographical coverage of the specified region;

VCC will partner with the local government, chambers, and other business support organizations to coordinate office hours, workshop development and delivery, and other support services. The GRVA SBDC already has commitments from Chamber RVA, the Chesterfield Chamber, Henrico EDA, Chesterfield EDA, Powhatan, Goochland, Hanover, New Kent, and the Town of Ashland to either provide financial support, help raise the required matching funds, and/or in-kind support of space and marketing services. The GRVA SBDC staff will develop a schedule to be a consistent presence in these areas. Additionally, the SBDC will use technology and virtual events when in-person travel is limited or the least effective way to deliver the content and support.

Description of linkages with host organization’s other economic development efforts and other related business assistance providers (public and private);

VCC has relationships throughout the region. The list below is just a sample of the network. VCC: • Has relationships with most of the local government entities in the Richmond region. • Sits on a regional collaborative that currently meets three times a week to discuss small business and community needs. • Has a working relationship with BizWorks. • Participates in the Dominion Energy Innovation Center’s upcoming accelerator program i n Ashland. • Participates in Activation Capital’s Community Advisory Committee. • Sits on the City of Richmond’s MicroEnterprise Loan Fund committee. • Is a member of ChamberRVA and is sitting on their small business grant program committee.

Description of the organization’s experience and success in securing contributed financial contributions and other resources as appropriate.

VCC has an excellent history of securing funding from federal, state, and local entities through formal grant opportunities and custom programs. The GRVA SBDC will be able to leverage VCC’s experience in fundraising in order to establish consistent matching resources for the center beyond the launch.

Describe the proposed reporting relationship of the SBDC Director, where the SBDC is planned to be placed within host organization.

The GRVA SBDC will be placed in the Community Innovation and Marketing Department. This area is aligned with the lending team and is already providing technical assistance across the state. Leah Fremouw, VP & Director of Community Innovations will oversee the center launch and overall management.

For the initial launch, the GRVA SBDC would be staffed with two full-time business advisors who report to the Director of Community Innovation & Marketing. VCC will also support the GRVA SBDC’s community with limited time from the small business lending team to provide business counseling.

Annual Budget:

Total Budget $325,000 Expense Amount 20% Admin (overhead, marketing, and tech) $65,000 Travel (2.5 ppl) $1500 Training and Conference (2.5 ppl) $1300 Programming Expenses (consultants, events, materials, misc) $18,000 Director Salary + Benefit (1.3x Salary) $103,700 ($85k) Business Advisor + Benefit (1.3xSalary) $91,000($70k) PTE Business Advisor $30,000 Existing VCC Team salary (Manager) $14,500

Describe the recruitment plan and timeline to ensure launch within 45 days of contract award.

VCC’s team will work with the SBDC Network’s State Director and local partners to recruit, interview, and hire a senior- level SBDC Director and staff-level business advisor. These positions will be posted on all of VCC digital recruiting resources and shared with all of the region’s localities, chambers, and other business networks to ensure a diverse pool of candidates.

The first two employees will need the skills to provide both technical assistance to the business community and help build the internal infrastructure for the GRVA SBDC. A sample job description is included in Appendix II.

Launch plan

Describe how the SBDC would be launched to the small business and economic development community. Include the proposed timeline, events, press release outlet, etc. VCC will fully launch the SBDC within 45 days of confirming the funding for the center. The COVID-19 environment and the summer months may cause some adjustments. The following timeline is a general guide for the activities:

Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Recruit and Hire SBDC Staff Recruit and Confirm Network Partners Develop Strategies & Priorities Develop Marketing Plan Public Announcement

VIRGINIA INDUSTRIAL DEVELOPMENT AUTHORITIES INSTITUTE / VIRGINIA INSTITUTE FOR ECONOMIC DEVELOPMENT DIVIDER

Combined Virtual - Virginia Industrial Development Authorities Institute (VIDA) and Virginia Institute for Economic Development - November 16 - 17, 2020

November 16 - 17, 2020 - VIRTUAL Virtual combined training for economic development practitioners, EDA/IDA members and staff.

GENERAL INFORMATION AGENDA REGISTRATION

General Information

As learning and meetings continue to Benefits of Attending "go virtual" the Virginia Tech Office of Economic Development is pleased to Learn from leading industry present a combined learning experience professionals for economic development professionals Update your knowledge of the latest as well as EDA/IDA members and staff. programs/techniques On Monday, November 16th participants Learn new ways to package and will have access to general sessions on market your community’s assets economic development. The following Interact virtually with economic day, Tuesday, November 17th will offer development leaders from across the two concurrent learning tracks. One for Commonwealth the economic development practitioner Learn about the fundamentals of and one for EDA/IDA members and economic development staff. The group will come back together Learn how Virginia’s history and public for a closing general session. policy impact the Commonwealth’s economic development programs at a General session topics will include: local, regional, and state level. Learn the role that partners plan in the Four Fundamentals of Economic economic development process

https://www.cpe.vt.edu/va.econdev/index.html[10/20/2020 11:42:45 PM] Combined Virtual - Virginia Industrial Development Authorities Institute (VIDA) and Virginia Institute for Economic Development - November 16 - 17, 2020

Development: An Overview Business Recruitment Business Retention and Expansion Tourism as an Economic Engine Growing Your Own—The Role of Entrepreneurism in Economic Development Economic Development in Virginia: A Public Policy View

Economic Development Practitioner Track topics will include:

Economic Development and Higher Education Workforce and Economic Development Asset Based Development: Using the Unique Features of Your Community

EDA/IDA Members and Staff Track will include:

IDAs/EDAs: The Basics Financing Tools Available to Localities to Facilitate Economic Development and Redevelopment Utilizing IDAs/EDAs—Beyond the Basics

For More Information For further information about the Institute, please contact Connie Long at e-mail [email protected].

For more information regarding registration procedures, contact the conference registrar at (540) 231-5182.

Continuing & Professional Education @ Virginia Tech Virginia Tech's Equal Opportunity/Affirmative Action Statement: www.vt.edu/about/equal-opportunity.html

https://www.cpe.vt.edu/va.econdev/index.html[10/20/2020 11:42:45 PM] Monday, November 16 – Tuesday, November 17, 2020

VIRTUAL COMBINED TRAINING FOR ECONOMIC DEVELOPMENT PRACTITIONERS EDA/IDA MEMBERS AND STAFF

PROGRAM AGENDA Monday, November 16, 2020

General Sessions:

12:45 pm–1:00 pm: Welcome and Opening Remarks 1:00 pm–1:30 pm: Four Fundamentals of Economic Development: An Overview 1:30 pm–2:15 pm: Business Recruitment 2:15 pm–2:30 pm: Break 2:30 pm–3:15 pm: Business Retention and Expansion 3:15 pm–4:00 pm: Tourism as an Economic Engine 4:00 pm–4:15 pm: Break 4:15 pm–5:00 pm: Growing Your Own-The Role of Entrepreneurism in Economic Development

Tuesday, November 17, 2020

Select from one of two concurrent learning tracks

Economic Development Practitioner Track:

8:30 am–9:15 am: Economic Development and Higher Ed 9:15 am–10:00 am: Workforce and Economic Development 10:00 am–10:15 am: Break 10:15 am–11:00 am: Asset Based Development: Using the Unique Features of Your Community

EDA/IDA Members and Staff Track:

8:30 am–9:15 am: IDAs/EDAs: The Basics 9:15 am–10:00 am: Financing Tools Available to Localities to Facilitate Economic Development and Redevelopment 10:00 am–10:15 am: Break 10:15 am–11:00 am: Utilizing IDAs/EDAs – Beyond the Basics

General Session 11:00 am–11:45 am: Economic Development in Virginia: A Public Policy View 11:45 am: Closing Remarks and Adjournment Combined Virtual - Virginia Industrial Development Authorities Institute (VIDA) and Virginia Institute for Economic Development - November 16 - 17, 2020

November 16 - 17, 2020 - VIRTUAL Virtual combined training for economic development practitioners, EDA/IDA members and staff.

GENERAL INFORMATION AGENDA REGISTRATION

Registration

Your registration includes access to the virtual combined VIED/VIDA training and specific Economic Development Practitioner and EDA/IDA Members and Staff tracks.

(Please note: group registration is not available for virtual events)

Registration Fee: $50

Registration deadline is Monday, November 9, 2020

* We accept MasterCard, Visa, American Express and Discover. Please note: charges will appear on your statement as "VT CONTINUING AND PROF EDUCATION".

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https://www.cpe.vt.edu/va.econdev/registration.html[10/20/2020 11:43:50 PM] Combined Virtual - Virginia Industrial Development Authorities Institute (VIDA) and Virginia Institute for Economic Development - November 16 - 17, 2020

The information you provide is subject to the Freedom of Information Act guidelines.

Refund and Cancellation Policy: Refund requests must be received 14 calendar days prior to the program start date. A $35 administrative fee will be deducted from all refunds. Requests should be sent by email or by initiating a drop request through the student portal in our online registration system. As an alternative to a refund, you may send a substitute at no additional cost. Please contact us at 540-231-5182 or e-mail [email protected] to request a substitution. Please note: refunds will not be issued for no-shows or for cancellations received on or after the program start date.

In the unlikely event that this program is cancelled or postponed due to insufficient enrollments or unforeseen circumstances, the university will fully refund registration fees but cannot be held responsible for any other expenses, including cancellation or change charges assessed by airlines, hotels, travel agencies, or other organizations.

For weather or disaster-related program cancellation or postponement information, please call (540) 231-9489.

If you need assistance, please call Virginia Tech Continuing and Professional Education at (540) 231-5182.

If you are an individual with a disability and desire an accommodation, please contact Sarah Lyon at 540-231-6120 or email [email protected] or TDD 1-800-828-1120 during regular business hours at least 10 business days prior to the first day of the program. Requests received less than 10 business days prior to the start date of the program may not be able to be accommodated.

Virginia Tech's Equal Opportunity/Affirmative Action Statement: www.vt.edu/about/equal-opportunity.html

Continuing & Professional Education @ Virginia Tech Virginia Tech's Equal Opportunity/Affirmative Action Statement: www.vt.edu/about/equal-opportunity.html

https://www.cpe.vt.edu/va.econdev/registration.html[10/20/2020 11:43:50 PM]