Orange County, Florida Neighborhood Stabilization Program (NSP) Orange County, Florida Neighborhood Stabilization Program (NSP) Housing and Community Development Division

Neighborhood Stabilization Program (NSP)  NSP Update  Housing Trends  Approval Process  Staff Recommendations

Neighborhood Stabilization Program (NSP)  NSP Update  Housing Trends  Approval Process  Staff Recommendations

NSP UPDATE  Orange County was allocated $27.9 million  Board of County Commissioners approved the County’s NSP Plan on November 18,  Expenditure deadline for NSP funding is September 3, 2010

NSP UPDATE  Option A  Houses acquired – 105  Houses sold - 11  Option B  Households assisted - 75

NSP UPDATE NSP Award NSP Funds Expended NSP Rental Activities Balance Remain Acquisition SFR$13,672,590$12,142,283$1,530,307 Rehabilitation SFR$1,709,534$1,089,716$619,818 Acquisition/Rehab of Rental Housing$7,000,000$0$7,000,000 Demolition$60,000$47,932$12,068 Redevelopment$0 Financing Homeownership Activities$2,610,830$2,160,830$450,000 Financing - Very Low Income$161,642$161,641$1 Administration$2,687,177 $0 Totals $27,901,773$18,289,579$7,000,000$2,612,194

Neighborhood Stabilization Program (NSP)  NSP Update  NSP Sales Activity  Approval Process  Staff Recommendations

NSP Sales Activity Property Address Total Acquisition Contract Sales Price Loss (acquisition - contract) NSP Assistance Total NSP Foregone 850 Windrose Dr.$177,871$155,000-$22,871$30,689$53, Ruthie Dr.$95,071$78,000-$17,071$35,265$52, Ruthie Dr$98,276$81,000.-$17,276$33,918$51, Blue Sapphire Circle$155,704$138,500-$17,204$33,623$50, Connor Ave$136,000$115,000-$21,000$25,200$46, Meadow Pond Way$154,071$135,000-$19,071$26,100$45,171 Average$135,000$117,000-$18,000$31,000$49,000

Neighborhood Stabilization Program (NSP)  NSP Update  Housing Trends  Approval Process  Staff Recommendations

NSP Approval Process  Approved by the Affordable Housing Advisory Board  Notified participating lenders and realtors  15 day public comment period

Neighborhood Stabilization Program (NSP)  NSP Update  Housing Trends  Approval Process  Staff Recommendations

Staff Recommendations Approval of the Amendments to the Neighborhood Stabilization Program. All Districts

Questions & Answers Orange County, Florida Neighborhood Stabilization Program (NSP) Orange County, Florida Neighborhood Stabilization Program (NSP)