MINORITY DEVELOPER PROGRAM (MDP)

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Minority Developer Program

PHDC Minority Developer Program (MDP) has been developed to:

  • Address the lack of diversity in the Philadelphia development and construction industry
  • Aggressively expand opportunities for small developers and contractors in Philadelphia
  • Create sustainable construction jobs
  • Develop a more inclusive construction workforce through training and hands on experience

What is the MDP?

  • MDP is a hands-on, business technical assistance program for small developers and contractors in Philadelphia to promote wealth creation and business growth
  • Specific efforts will be made to market firms that are owned and controlled at least 51% by minority developers and contractors doing business in Philadelphia as these firms are currently underrepresented in the marketplace
  • MDP leverages public land and funding to create opportunities for small developers and contractors to obtain contracts for development projects, gain experience, and improve their balance sheets.

What are the benefits of the MDP?

  • Gain access to development projects consisting of publicly owned land to meet the housing production goals set by the Philadelphia Land Bank Strategic Plan, which is supported by local legislators, and leverage vacant land to support affordable housing development opportunities to produce new affordable homes
  • Receive training on applying for publicly owned and available vacant properties
  • Review PHDC-specific agreements and requirements including regulatory requirements and other City entitlements
  • Provide pro forma training including financial modeling and step-by-step instructions for building the components of a financial model, including uses and sources of funds, mortgage amortization, cash flow projections, and property reversion based on accurate, supportable cost, and revenue inputs
  • Receive back-office support through third-party professional accounting, legal, finance, and administrative service providers
  • Gain access to financing opportunities
  • Receive mentoring from established developers
  • Seek to achieve 50% Economic Opportunity Plan (EOP) goals for all program participants. Businesses that are certified or undertaking the certification process shall count towards EOP goals.

Goals of the MDP

  • Give Philadelphia based small developers and contractors, particularly minority firms, the framework to grow into established firms that support and fuel Philadelphia’s local economy.

Who should apply to participate in the MDP?

  • Minority developers looking to expand their business and increase their bottom line
  • An established business entity, minimum 2 years
  • Local development and construction businesses
  • Firms that have proven development experience, minimum project size $150,000
  • Developers that have minimum annual gross revenue $100,000

First Prequalify

To prequalify as a Minority Developer Participant please complete this Request for Qualifications (RFQ)

Submission Deadline For Cohort 2
Respondents must submit applications by June 23, 2023 by 5:00 PM; absolutely no applications will be accepted after that time.

Fill out the form below to receive information on opportunities.
For more information contact Todd Hestand at todd.hestand@phdc.phila.gov

Download the Minority-Developer-Program-Brochure 2023

E M P O W E R ⇒ B U I L D ⇒ S U C C E E D

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