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March 25, 2014

March 25, 2014. Presentation Outline. Background Program Accomplishments Community Partnerships Summary. Presentation Outline. Background Program Accomplishments Community Partnerships Summary.

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March 25, 2014

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  1. March 25, 2014

  2. Presentation Outline • Background • Program Accomplishments • Community Partnerships • Summary

  3. Presentation Outline • Background • Program Accomplishments • Community Partnerships • Summary

  4. Neighborhood Stabilization Program (NSP) created to respond to rising residential foreclosures Orange County awarded $27.9 million for NSP 1 in 2009 $11.5 million for NSP 3 in 2011 Primary goals were: Acquire and redevelop vacant and abandoned homes Stabilize neighborhoods impacted by foreclosures Background

  5. Background Foreclosure Filings Clerk of Courts Orange County, Florida

  6. Background NSP Program Requirements • Program must serve low to moderate income families • 25% of program funds must serve very low income families • Selection of target areas with greatest need

  7. Background

  8. Background NSP Activities • Acquisition, rehabilitation, sale of foreclosed homes • Acquisition, rehabilitation of foreclosed rental properties • Demolition of abandoned, blighted properties • Downpayment assistance for Homebuyers

  9. Presentation Outline • Background • Program Accomplishments • Community Partnerships • Summary

  10. Program Accomplishments Total Units 679

  11. Program AccomplishmentsHome Sales

  12. Program AccomplishmentsPrior Year Home Sales

  13. Program Accomplishments NSP Clearance/Demolition Activity County Lien Placed on Properties – Code Enforcement Division

  14. Emerald VillasGroundbreaking EventJanuary 19, 2012

  15. Emerald VillasGrand Opening – January 30, 2013

  16. Emerald Villas Rents Average Resident Income: $20,000

  17. Program Accomplishments

  18. Program Accomplishments 100% expenditure deadline by March 2014

  19. Presentation Outline • Background • Program Accomplishments • Community Partnerships • Summary

  20. Community PartnershipsPrivate Sector • Title companies and appraisers assist with acquisition of NSP homes • Realtors and lenders assist with sale of NSP homes • Contractors provide the rehabilitation work

  21. Community PartnershipsHabitat For Humanity • Assist Orange County in meeting the very low income requirement • The Perfect Partner • Experience in building and rehabilitating homes • Program in place to prepare very low income households for home ownership • Provides their own financing

  22. Habitat For Humanity6002 Avery Street - Before

  23. Habitat For Humanity6002 Avery St -Volunteers Replacing the Roof

  24. Habitat For Humanity6002 Avery Street - After

  25. Habitat For Humanity2116 San Jose Blvd - Before

  26. Habitat For Humanity2116 San Jose Blvd -Roll in Shower

  27. Habitat For Humanity2116 San Jose Blvd - After

  28. Habitat For Humanity5515 Oakfield St - Before

  29. Habitat For Humanity5515 Oakfield - Driveway

  30. Habitat For Humanity5515 Oakfield Street - After

  31. Habitat For Humanity5515 Oakfield St - Happy Children in their New Home

  32. Habitat For HumanityEnergy Efficient Features • Exterior Features • White roof shingles (reflects light) • Energy efficient dual pane, low “e” windows • Florida friendly landscaping used • R 4.1 foil insulation on outside masonry wall (reflects heat) & R-30 ceiling insulation • Interior Features • 14 Seer air conditioning units • Low volume water star toilets, shower heads, and aerators on bathroom faucets • Fluorescent lighting & Energy Star appliances installed • Programmable thermostats

  33. Habitat For HumanityProgram Data • Purchased 35 homes to date • Sold 23 homes to very low income buyers

  34. From our Habitat Families THANK YOU!

  35. Presentation Outline • Background • Program Accomplishments • Community Partnerships • Summary

  36. Summary • Pace of program is slowing • Continue to redevelop distressed properties • Generating program income • Source of affordable housing

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