Downtown Housing Initiative 2014 Audrey Nelson Community Development Achievement Awards January 24, 2014.

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Presentation transcript:

Downtown Housing Initiative 2014 Audrey Nelson Community Development Achievement Awards January 24, 2014

Slide #2 Background Located in Downtown Jacksonville Vacant & dilapidated structures Fragile, threatened neighborhood Minority concentration Low income population High rental population

Slide #3 Statistics 90% Low to moderate income 84% Rental 99% African American 54 Average age

Slide #4 Vision Create visible impact in downtown Eliminate slum & blight conditions Increase Homeownership Opportunities

Slide #5

Slide #6

Slide #7 Strategic Plan AcquisitionDemolitionReconstructionRehabilitation Down Payment Assistance Acquisition

Slide #8 Strategic Plan AcquisitionDemolitionReconstructionRehabilitation Down Payment Assistance Demolition

Slide #9 Strategic Plan AcquisitionDemolitionReconstructionRehabilitation Down Payment Assistance Reconstruction

Slide #10 Strategic Plan AcquisitionDemolitionReconstructionRehabilitation Down Payment Assistance Rehabilitation

Slide #11 Strategic Plan AcquisitionDemolitionReconstructionRehabilitation Down Payment Assistance

Slide #12 Public & Private Partnerships Allow private sector to construct on Community Development lots North Carolina Housing Finance Agency - Down payment assistance Cross-Departmental Collaboration with Streets, Fire and Police Leveraging - 2:1

Slide #13 Homeownership Incentives Down payment assistance is available Value of lots = homebuyer equity –Own home less than 5 yrs lot value is returned to City –Own home 6-10 years owner assumes 20% lot value yearly –Own home over 10 years, owner assumes 100% lot value Program available for owner occupants only

Slide #14 Before After

Slide #15 Before After

Slide #16 Before After

Slide #17 After

Slide #18 After

Slide #19 After

City Seal Slide Slide #20

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