Housing Quality June 16, 2016 s s e e t y Examples of this from other i o s r t t u e e L i r l i m s c e l b s o n a p a o r communities (provide links to l a s i o c t d H e e s n e r r Is this tool a policy, Summary of the program, policy, strategy. i i P r u t e o d i r o N d f r Item # Policy/Program Name What is the outcome? municipal codes and other e e d F f i r n p r A s c program, or strategy How does it operate/work? n a o o e a i i n d g d r R resources as available) List the city B s o P n n n e t a i r a n s m h t u b a s C o o and state A b c a H H u V S Public/private partnership in Program Provide financial incentives for rehabilitation of 1) Improvement of the housing stock, Banner Bank has a loan product used neighborhood revitalization single family homes and rental property in especially in the neighborhoods that ring in Portland designed for inner city targeted neighborhoods. Public funds would downtown. 2) Provide incentives rehab. The TIP Housing Committee be used to match a property owner's to bring private money into play. The has explored with them the idea of investment in rehabilitation of property. This work needed community wide can't be an interest rate buy-down using could be in done in a number of ways like done with public funds alone. public funds. ( For example taking 1 X X matching grants or by buying down the interest 3) Link public investment to private the interest rate down to 2%) They rate on a bank loan. investment were very open to the idea. Other banks may have similar programs Create a Community Land Bank This would be a new Create and fund a Community Land Bank Reduce blight. Create a better Genesee County Land Bank in program that creates a that is empowered to purchase hold and re- process for addressing foreclosures. Flint Michigan. Cuyahoga County very powerful tool to sell properties for the purpose of Can acquire properties quickly when Land bank in Cleveland Ohio are address a number of community revitalization. they are available. Allow timely two good examples. related issues action when demolition is called for. Four research articles examining Make properties available for Community Land Banks and their 2 X X X X X X commercial and residential re- impact on community development revitalization have been submitted and are available to committee members Home Rehabilitation Program Policy change 1) Allow geographically targeting of funds 2) Rehab dollars whould be used to show The TIP Housing Committee has Require façade and landscape improvements obvious visible changes in targeted areas. developed proposed Exterior Rehab for each home This is the only way to stimulate further Standards based on reasearch into investment. It is well known that when existing standsrds inPeoria, IL, San oneor two houses on a block are Bernadino, CA, New York State and 3 X X improved, other improvements follow. other jurisdictions. Investment begets further investment. This reality should inform how we spend home rehab dollars. NeighborhoodLIFT Program (In Strategy Supports sustainable homeownership and Provide funding for first time home Various partnership with Wells Fargo. advance neighborhood stability, the LIFT buyers to purchase homes. Target areas Program AKA, HomeLIFT and programs deliver down payment assistance and specific areas in Spokane, program could CityLIFT) financial education to homebuyers in specify types of housing that is eligible to collaboration with NeighborWorks America and purchase under this program as well as 4 X X X X local nonprofits. income levels of people to utilize the funding. Program would include education 1
Housing Quality June 16, 2016 s s e e t y Examples of this from other i o s r t t u e e L i r l i m s c e l b s o n a p a o r communities (provide links to l a s i o c t d H e e s n e r r Is this tool a policy, Summary of the program, policy, strategy. i i P r u t e o d i r o N d f r Item # Policy/Program Name What is the outcome? municipal codes and other e e d F f i r n p r A s c program, or strategy How does it operate/work? n a o o e a i i n d g d r R resources as available) List the city B s o P n n n e t a i r a n s m h t u b a s C o o and state A b c a H H u V S Apply for NeighborhoodWorks Strategy NeighborWorks received $122.5 million as a Eligible uses of Project Reinvest grants New grant program. Funding result of the Dept. of Justice settlement with will include those efforts designed to: 1. Bank of America. NeighborWorks will be Assist individuals in stabilizing their implementing Project Reinvest to provide finances, rebuilding credit and housing counseling, neighborhood stabilization, establishing savings. 2. Support down- & foreclosure prevention. Funding for these payment lending to low and moderate 5 X X activities will be made available through an income individuals. 3. Promote open and competitive process to nonprofits stabilization and revitalization in areas hit and qualified organizations, with an intent to hard by foreclosure. maximize benefit for communities and individuals impacted by the foreclosure crisis. Align service dollars from grants or other sources to assist people to 6 X X X X relocate into safe housing Financial institution funding Strategy 1. Partner with local financial institutions to Provide funding for home rehab, N/A pool/foundation pool funding that could be utilized by the City, demolition, funding leveraged to rebuild nonprofits, developers, landlords and/or homes property owners for home rehab. Strategy could focus on target area or housing type. 2. 7 X X X X Grants/sponsorship dollars to demolish homes. Tracking repairs and making fixes Strategy Identify repairs needed for substandard, Home rehab N/A to homes abandoned, chronic nuisance, and foreclosed 8 X X X X homes. City to make repairs and place the costs from the repairs a lien on the property Small grants to property-owners Strategy Provide grants to landlords and/or home Home rehab N/A and/or landlords. Rental Housing owners to repair/rehab. Their homes by 9 X X X X Rehab grants/loans offering small grants that address home health, safety, and curb appeal Low & Moderate income Owner 10 Occupied Housing Rehab grants/loans Rental Housing Rehab Housing Quality & 11 Grants/Loans Affordability Housing Rehab Target Investment Housing Quality 12 Areas 2
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