Peoples Community Subsidiary, Inc., originally incorporated as “Fruit Of Life”, was later renamed Marrero Community Development to reflect the community in which it served at that time, was eventually changed to Peoples Community Subsidiary, Inc. The final name change was the result of our expanded mission to serve the Greater New Orleans population.
Upon conception of this organization, it was envisioned that Peoples would serve as a catalyst to assist in alleviating the conditions of poverty and dependency by providing supportive services and creating programs to address the needs within our community.
Over the past seven years, Peoples has provided community services such as, single-family housing rehabilitation, new construction, commercial property restoration, supportive assistance, feeding, clothing, counseling, educational programs, youth intervention programs as well as a senior citizen programs.
Hurricane Katrina has not influenced the organization's mission to the point that we must reorganize or revision. What hurricane Katrina has done is exposed the plight that peoples have been dealing with for years within the Greater New Orleans area, which is our general target population.
A seven-member board of directors governs peoples. The Board of Director focuses on legislative issues. The Executive Director administers and implements programs as well as manages day-to-day operations. Peoples success is attributed to the amount of support and participation from the community. Peoples have been blessed to have a very large volunteer base.
Peoples is Jefferson Parish only surviving Community Housing Development Organization, (CHDO). Over the years, Peoples has developed working relationships with government support agencies that target the same population.
Currently we are under contract with Jefferson Parish Community Development Department and the Jefferson Parish council to provide affordable housing. Dryades Saving's bank provided the interim construction loan on first phase of the 24-unit development. Peoples received $2.1 million in HOME funds to acquire land and develop 24 single-family units. Each unit was sold for $88, 000.00, with up to $50,000 in grant funds which made the purchaser fit within the low to moderate-income range.
Below is a brief narrative of our past developments and programs
MARKETING STATEGY
Peoples marketing process includes networking with local churches, civic organizations and other CBO’s and CHDO’s. In addition, we retain the services of a local Marketing firm, EBONETWORKS.
Homes developed in our projects are pre-sold from blue prints. The properties are listed with a local Realtor estate broker who also participates in pre-qualification and coordinating Home-Ownership Training, and Financial fitness training. This process is implemented as soon as construction begins. This allow for time to work with prospective buyers in resolving credit challenges.
FINANCIALS
Attached is a copy of Peoples current financial. We have not had in Audit performed since 2004. 2005 audit was schedule for September of 2005, but was prevented due to Hurricane Katrina. The organization did not resume operations until the Harvey project. We have a commissioned an audit for 2006 and 2007, which is expected to be completed by mid February, 2008 |
