Virginia Beach Community Development Corporation

Overview

The Virginia Beach Community Development Corporation (VBCDC) is a 501(c)3 nonprofit organization dedicated to providing affordable housing opportunities in the City of Virginia Beach. Established by the Virginia Beach City Council in 1985, it aims to enhance and expand affordable housing options as part of the city's neighborhood revitalization strategies.

Mission and Vision

The mission of VBCDC is to assist the City of Virginia Beach in offering quality affordable housing to low and moderate-income individuals and families. Its vision is to create a community where everyone has access to quality homes, fostering a supportive environment where people can thrive beyond just survival.

Activities and Achievements

VBCDC has over three decades of experience in providing affordable housing and supportive services to those in need. It has provided safe and stable housing to over 6,200 families facing housing crises and has supported more than 8,000 individuals through various services, including case management and financial assistance. A significant focus since 2013 has been on supportive services for low-income, homeless, and disabled veterans.

Operations

VBCDC owns and manages over 500 units of affordable rental housing throughout Virginia Beach, serving diverse groups such as low-to-moderate income families, elderly persons, veterans, homeless individuals, and persons with disabilities. The organization offers 24/7 property management and maintenance services for its properties.

Leadership and Structure

The Board of Directors, appointed by the Virginia Beach City Council, provides direction and oversight, while the Executive Director and staff manage the daily operations. Jessica Guglielmo serves as the President and Chief Executive Officer.

Financial and Organizational Details

As of the latest available fiscal year, VBCDC reported total assets of approximately $35 million and liabilities of about $20 million. Its revenue sources include contributions and program services, which account for a majority of its income.

Values

VBCDC operates based on values of passion for humanity, inclusivity, equal opportunity, trust, justice, courage, and respect for partners and neighbors.

Recognition

VBCDC has received awards for its contributions to affordable housing development in Virginia Beach.