Norfolk, VA (August 17, 2011) – Hampton Roads Ventures, LLC (HRV), an industry leader in community development 
financing today announced the appointment of Donald Phoenix as Chair of its Board of Advisors. As a nationally recognized community development leader, Phoenix will round out HRV’s Board of Advisors with his government and private industry security expertise to further the company’s leadership in creating viable, sustainable communities.
Phoenix has served on the HRV Board of Advisors for nearly five years where his support of various projects throughout the nation and expansive knowledge on building strategic partnerships to create project success has been invaluable. He is known as an advocate for and high producer of much-needed affordable housing. He pioneered a revitalization strategy through which the Neighborhood Housing Services of Savannah (NHS) successfully partnered with the City of Savannah to purchase vacant and abandoned properties, rehabilitate them, and auction them to the neighborhood residents.
“I look forward to continuing my work with HRV as the company continues to lead and advance the financing methods for communities to provide solutions for economic and residential needs, while addressing the evolving financial and partnership needs of local community entities and government organizations,” said Phoenix.
Phoenix is also well-known and highly respected in the field holding over 30 years of community development experience. He currently serves as NeighborWorks® America’s Southern District Director. Previously, he was executive director of the Neighborhood Housing Services (NHS) of Savannah, and has served as housing director for the City of Savannah, vice president of Carver State Bank of Savannah and assistant vice president of Great Southern Federal Savings Bank. He is also a member and board member of the Georgia Community Development Association, Atlanta’s Alliance for Community Investment, Georgia State Trade Association of Nonprofit Developers and the Wachovia Bank Advisory Council. Phoenix is the past chairman of the Advisory Council of the Federal Home Loan Bank, and he is a member of several other community development organizations.
“We are honored to continue working with Donald Phoenix in this new capacity,” said John Kownack, CEO of HRV. “Donald’s esteemed reputation throughout the field and his breadth of knowledge in working with both large and emerging community development organizations will continue to be a great asset to HRV.”
About HRV
Hampton Roads Ventures, LLC, a subsidiary of the Norfolk Redevelopment and Housing Authority, is a community development investment firm specializing in attracting private-sector investment capital into innovative economic community development projects in under-served communities, particularly lower income urban and rural communities. HRV works closely with local business, governmental and civic leaders to identify investment opportunities that will be a catalyst for additional private sector investment and development.
About the New Markets Tax Credit Program
The NMTC Program, established by Congress in December 2000, provides individual and corporate taxpayers with a credit against federal income taxes for making qualified equity investments in investment vehicles known as Community Development Entities (CDEs). Substantially, the CDE must use all of the taxpayer’s investment to make qualified investments supporting certain business activities in low-income communities. More information on the NMTC program: www.cdfifund.gov.
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