We Build Strong and Healthy Neighborhoods
CDC Capacity Building Scholarship Program
Click here to download an Application for the CDC Capacity Building Scholarship
Program Description
RHCDA, in collaboration with Bank of America, Citigroup, Commerce Bank, First Bank, National City Bank, Southwest Bank, and UMB, is offering scholarships to St. Louis area community development specialists to attend the Real Estate and Community Development Program (RECD), at Saint Louis University's School of Professional Studies.
RHCDA has established the CDC Capacity Building Scholarship Program as a professional development opportunity for key staff members at St. Louis area CDCs. A CDC's success in carrying out its neighborhood revitalization mission is directly linked to the professional capacity of its staff. Certification from the RECD Program will demonstrate an increased level of education and skill in professional real estate development and management.
The certificate in Real Estate and Community Development will be awarded to students completing an intensive, 6-course program. Classes run for nine weeks, with two sessions per semester. Classes meet one evening per week on the Saint Louis University campus from 5:30 pm – 9:30 pm. A student taking 2 classes per semester will complete the program in two years or less.
The RECD Program courses are:
1. Real Estate Roles and the Public Sector—an overview of the real estate industry, which serves as an introductory course for a Certificate in Real Estate. This course provides a survey of all topics which will be covered in the real estate program, with future courses building on this base.
2. Real Estate Law—this course includes the study of the legal principles governing real estate transactions with an emphasis on executed contracts or the documents involved in a real estate transaction. Topics addressed are: contract law, estates in land, types of ownership, deeds, mortgages, title insurance agency, surveys, land descriptions and leases. This course is not designed to teach the practice of law but will assist students in avoiding legal pitfalls and working effectively with an attorney.
3. Real Estate Finance (Prerequisites: Accounting Concepts for Professionals)—designed to provide practical working knowledge and capabilities in the methods and techniques used in the financial analysis of real estate development projects. A majority of the course is spent understanding, practicing and applying present value mathematics, the concept of return, discounted cash flow analysis, project costs and benefits, and a complete financial analysis of a real estate development project.
4. Real Estate Appraisal, Market Research and Feasibility—provides an in depth description of the consulting fields of real estate appraisal, real estate market research and real estate feasibility analysis. Upon completion, the student should be a good consumer of these services.
5. Introduction to GIS for Real Estate—designed to provide an overview of the conceptual, technical and procedural aspects of Geographic Information Systems (GIS). It provides an introduction to the three major types of GIS, data models and their application. Hands on creation of GIS products and projects stressing the conceptual context of the technical and mechanical activities are a major component of the lab activities. Emphasis is placed on the application of GIS technology as a tool, and its importance in GIS project operations and product development and real estate applications.
6. Real Estate Capstone (Prerequisites: completion of the 5 courses listed above)—a seminar in which students, with the guidance of a faculty instructor, produce a project incorporating the knowledge and skills learned in the real estate courses. The finished product is a research paper, reviewed by the faculty instructor.
Scholarships are limited to individuals currently employed full-time at St. Louis area community development corporations. Full-time students at Saint Louis University are not eligible.
To build program partnerships within the community development profession, RHCDA strongly encourages applicants to seek financial support from their CDC employers in the form of employer-funded tuition assistance.
RHCDA's 2008 CDC Capacity Building Scholarships are for a maximum amount of $8,100 per student based on 2008–2009 tuition of $10,800 for the six classes ($1,800 per class). RHCDA will pay a maximum of $1,350 per class directly to Saint Louis University upon receipt of a tuition invoice for each class the RHCDA Scholar enrolls in.
Scholarship recipients are required to document the source of payment for the remaining portion of their tuition expense. Preference will be given to applicants whose employers pay a portion of the tuition cost. Saint Louis University tuition is subject to increase in future school years.
Book fees, parking, and other fees are not included. Text books are estimated to cost approximately $100 per course.
2008 Deadline: Applications will be accepted until July 31, 2008, with awards announced August 18, 2008.
Upon successful completion of the program, students are awarded a Certificate in Real Estate and Community Development. This certificate together with two additional courses can be used for 15 credit hours toward a Masters Degree in Urban Planning and Real Estate Development (UPRED) at the Public Policy program at Saint Louis University.
Eligibility Requirements
Candidates must be currently employed full-time at a St. Louis area (Missouri or Illinois) community development corporation.
Admission Requirements– Scholarship candidates must be approved for enrollment at Saint Louis University or their scholarship shall become null and void.
Applicants to SLU's School of Professional Studies must be at least 22 years old, with at least 3 years (or equivalent) work experience. They must have their high school diploma or composite GED score of at least 225, and a minimum transfer cumulative GPA of 2.0 (unless qualified for provisional admittance).
The full application to SLU’s School of Professional Studies is available at http://www.slu.edu/x10981.xml.
Prerequisites – As described above. The accounting prerequisite for the Real Estate Finance class may be waived upon approval of the course instructor. Please provide a letter documenting your previous accounting education and experience to the School of Professional Studies at Saint Louis University.
Program Restrictions
- RHCDA Scholars must remain continuously enrolled in the program or forfeit their scholarship.
- RHCDA Scholars are required to maintain a "B" or "3.0" grade point average for all course classes or forfeit their scholarship.
- RHCDA Scholars must remain continuously employed at a St. Louis area CDC or forfeit their scholarship.
- Upon completion, RHCDA scholars must remain employed at a St. Louis area community development corporation for a period of five years following the date of their award, or face recapture of a pro-rata share of their scholarship. Forgiveness will accrue at a rate of 20% per year.
- RHCDA CDC Capacity Building Scholarship awards are final and are subject to the sole discretion of RHCDA and its selection committee.
- RHCDA's CDC Capacity Building Scholarship program is subject to the availability of program funding and may be terminated at any time.
- RHCDA's CDC Capacity Building Scholarship program is an equal educational opportunity awarded to individuals on the basis of merit, without regard to race, color, religion, disability, gender, country of origin, or sexual orientation.
For more information or an application, please contact Rick Bonasch, Director of Technical Assistance for RHCDA, at (314) 333–7007 or rick@rhcda.com.
For information about admission into SLU's School of Professional Studies, please contact Mary Walker, SLU Admissions Counselor, at (314) 977-3431 or walkermc@slu.edu.