Richard Benbow
Advisor, Civic Engagement
Former Head of City of Los Angeles
Community Redevelopment Agency
Co-founder, USC Ross Minority Program in
Real Estate Finance and Development
Mr. Benbow has spent more than three decades in executive management of the former Community Redevelopment Agency (CRA) and the former Community Development Department (CDD) of the City of Los Angeles. As a member of the CRA executive management team he was charged with developing and implementing plans to revitalize blighted neighborhoods throughout the City. By leveraging tax increment revenues, government grants, public financing tools and private sector investments, through public/private partnerships, a number of signature commercial, housing and mixed use projects were developed. These projects produced tens of thousands of affordable housing units, thousands of jobs and business opportunities to residents of the City, in addition to transforming blighted neighborhoods into viable communities. CRA’s work with nonprofits in the production of affordable housing is recognized as a national model.
As General Manager of CDD Mr. Benbow and his management team distributed and monitored the use of millions of dollars of federal and local funds awarded annually to CDD to achieve its mission of creating jobs and strengthening families. Workforce development and human services programs are implemented by a network of non-profit organizations throughout the City. In addition, CDD administers a government financed loan program which increased its portfolio by more than 500% during Mr. Benbow’s tenure. Concurrently serving as Chair of the Los Angeles Development Fund beginning in 2007, under Mr. Benbow’s leadership the Fund obtained $125 million dollars in new market tax credits for investment in commercial projects designed to produce jobs and business opportunities for local residents.
Among Mr. Benbow’s most significant achievements is co-founding the Minority Program in Real Estate Finance and Development in 1993 with USC following the civil unrest in 1992. The Program is now endowed as the Ross Minority Program in Real Estate Finance and Development as it completes its 25th year of operation.
Following his career in public service Mr. Benbow has focused his consulting on assisting clients in the areas of strategic planning, capacity building and real estate development.