Norfolk, VA (PRWEB) September 13, 2013
At the September 11 NRHA Board of Commissioners meeting, Chairman, W. Sheppard Miller III announced his resignation. Miller has served with distinction for almost 12 years, including some 11 years as Chairman. His departure will be effective October 31, 2013.
During Miller’s tenure, NRHA has been a transformative force in Norfolk through numerous projects including redevelopment of East Beach, redevelopment of Broad Creek, revitalization of Grandy Village and Mission College Apartments as well as repositioning of Waterside in downtown Norfolk, to name just a few. Broad Creek and East Beach are the largest redevelopment projects in Norfolk’s history.
Currently, NRHA is rated as a ”High Performer” for both its public housing and housing choice voucher programs, by the U.S. Department of Housing and Urban Development, the highest rating possible. Together these programs provide housing for over 17,000 residents. NRHA has also built or rehabilitated thousands of homes throughout the city.
During Miller’s term, NRHA has worked and spent over $200 million in over 20 conservation and redevelopment neighborhoods across the city including Park Place, Ocean View, Ballentine, Lamberts Point, Wards Corner, Church Street/Huntersville Berkley and other locations. NRHA was instrumental in development of Old Dominion University Village, helping transform ODU into one of Norfolk’s greatest assets.
NRHA recently received an A+ credit rating from Standard and Poor’s, which cited its fiscal strength and strong management. This is among the very highest rating attained by any housing authority in the country.
Just last year, an economic impact analysis performed by the College of William and Mary Mason School of Business found the agency creates $121.5 million annually for the city’s economy, in addition to 1,148 jobs, with an average wage of $46,434, at a time when the region is in the middle of an historically severe recession. NRHA enables over 7,000 Norfolk households to live in better quality housing than they otherwise can afford. These households included a total of 17,600 people, or 7.25% of Norfolk’s total population.
Along with his work on the NRHA board, Miller also is the founding and current Chairman of the Board of Hampton Roads Ventures, a for-profit entity owned by NRHA. HRV has been a force for change and a generator of economic growth in the Eastern United States. It pursues a business strategy that employs the innovative use of local, state and federal community development incentive and financing programs, such as Tax Exempt Bond Financing, state and federal Historic Tax Credits and state and federal New Market Tax Credits (NMTC).
Through this entity, NRHA has or is currently deploying over $205 million in tax credits, resulting in creation of thousands of jobs and millions of feet of retail, office and industrial space. Projects include the Crispus Attucks Theater, the Fort Norfolk Plaza Medical Complex, and the SpringHill Suites at ODU University Village, They also include over 20 other projects including a grocery store, hotels, medical and cultural facilities and industrial and energy plants. They are scattered from East St Louis, to Jackson, Mississippi, to Roanoke, to Washington D.C.
Vice Chairman Barbara Hamm Lee credited Miller for his highly effective leadership skills and abundant advocacy for NRHA and Norfolk citizens.
“While it has been a difficult decision to leave a role I am so passionate about, NRHA has incredible momentum and couldn't be in better hands. We have top-notch leadership on our board and on our executive team, and we have excellent community partners" Miller said. “I believe it is time to turn over the leadership to others, who will continue the legacy of excellence left to me. It has been an incredible privilege for me to serve this great city for over 20 years. Sixteen of those years were spent as NRHA Chairman and prior to that as Chairman of the Economic Development Authority.”
Miller also serves as one of Governor Bob McDonnell’s appointees to the Commonwealth Transportation Board and serves as the Chairman of HRBizPAC, the Hampton Roads Chamber's Political Action Committee.
He also serves on the Mayor’s Downtown Task Force, and the boards of the Hampton Roads Economic Development Alliance, Hampton Roads Chamber of Commerce and Monarch Bank’s Norfolk Division.
In addition, he was President of the Rotary Club of Norfolk for 2008-2009 and Chairman of the Better Business Bureau of Hampton Roads. He served on the Mayor’s Commission to End Homelessness and the Blue Ribbon Commission to Study the Direct Election of the Mayor. He was a member of the Norfolk Economic Development Authority for nine years, serving as chairman for five of those years before joining the NRHA Board.
Miller is the Chairman of KITCO Fiber Optics and President and CEO of Light Tech Inc.
Norfolk City Council will decide on appointments of three commissioners whose terms expire in October. Following that action, the NRHA Board of Commissioners will elect new officers this fall.
Founded in 1940, NRHA is a national leader in community revitalization and fostering sustainable mixed-income communities. As the largest redevelopment and housing authority in Virginia, NRHA plays a key role in making Norfolk the city of choice to build, work, play and live.
Read the full story at http://www.prweb.com/releases/2013/9/prweb11120049.htm.
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