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Cobb County NEIGHBORHOOD STABILIZATION PROGRAM Performance Review January 2009 – September 2010

Cobb County NEIGHBORHOOD STABILIZATION PROGRAM Performance Review January 2009 – September 2010. www . b uy c obb . com. NSP Overview. HUD – Approx. $6.9 Million DCA – Approx. $1.9 Million. Total of $8.8 Million. Asset Management Firm (AMF) Certified Appraiser Home Inspector

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Cobb County NEIGHBORHOOD STABILIZATION PROGRAM Performance Review January 2009 – September 2010

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  1. Cobb County NEIGHBORHOOD STABILIZATION PROGRAM Performance Review January 2009 – September 2010 www.buycobb.com

  2. NSP Overview HUD –Approx. $6.9 Million DCA –Approx. $1.9 Million Total of $8.8 Million • Asset Management • Firm (AMF) • Certified Appraiser • Home Inspector • Attorney • Realtors & Lenders • Cobb County • Economic Development Department • Communications & IT Department Synergy Partners Financial Data “Helping workforce individuals and families realize the dream of homeownership”

  3. Residential Real Estate Model “Helping workforce individuals and families realize the dream of homeownership”

  4. Total Dollars Expended $6,265,625 “Helping workforce individuals and families realize the dream of homeownership”

  5. Total Acquisition $3,918,862 Average Discount 23% “Helping workforce individuals and families realize the dream of homeownership”

  6. Number of Houses Acquired 5 8 4 4 4 17 Acworth Austell Kennesaw Mableton Marietta Powder Springs 42 Houses Acquired by Jurisdiction “Helping workforce individuals and families realize the dream of homeownership”

  7. Number of Houses Sold 3 6 2 3 3 9 Acworth Austell Kennesaw Mableton Marietta Powder Springs 26 Houses Sold by Jurisdiction “Helping workforce individuals and families realize the dream of homeownership”

  8. Average Sales Price To Buyer $132,692 “Helping workforce individuals and families realize the dream of homeownership”

  9. Occupational breakdown 4 2 3 4 13 Cobb County Employee Public Safety Healthcare Board of Education General Public “Helping workforce individuals and families realize the dream of homeownership”

  10. Program Income Generated $3,021,004 “Helping workforce individuals and families realize the dream of homeownership”

  11. Strategy For25% LH Set Aside Acquisition of Orchard Mills 238 Unit Apartment Complex 1800 Mulkey Rd. Austell, GA 30106 Funds Used: HUD NSP: $1,625,454 DCA NSP: $1,797,108 Currently in 60 day due diligence phase of negotiations “Helping workforce individuals and families realize the dream of homeownership”

  12. NSP 3 Award $2,415,784 “Helping workforce individuals and families realize the dream of homeownership”

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