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RICHARD L. WEBB Director of Development Elder Development, Inc. Richard Webb, age 40, has nineteen years of management experience with an emphasis in marketing, project development and recruitment. He has over seven years of experience in developing housing and services for the elderly. Before the establishment of Elder Develop- ment, Inc. in December of 1987, he was Director of Development for Kensington Residential Hotels. His duties included planning and directing the development process on six historic hotels, each with a budget of approximately $3.5 million. Development activities included: market and financial feasibility studies, marketing plans and implementation, hiring of project management, development of architectural plans, bidding process with contractors, supervision of the construction process, development of interior design specifi- cations/plans and investor presentations. Prior to his position with Kensington Residential Hotels, Richard was a partner in Residential Health options, Inc. As a partner in this firm, he completed strategic planning, market research, economic feasibility, site analysis and consulting on a number of senior housing projects throughout the United States. He also provided direct management and marketing of a 240-unit senior housing project. From 1980 to 1985, he served as Director of Development for Good Neighbor Care Centers. As Director of Development, responsibilities included acquisitions, capital expenditure planning, materials and property management, facility renovation, public affairs, marketing and project development. He managed elements of construction and start up for a 111-unit rental retirement project and created a successful interior design company. During his tenure, the company grew from one to twenty-five facilities with over $40 million per year in revenues.