1. Winston-Salem Regional Association of Realtors & Community Partners
A Partnership for Affordable Housing
Washington DC
NAR Conference
May 18,2006
George Munford
Dan Kornelis

2. Promoting & Supporting Affordable Home Ownership Opportunities
Identification of Partners:
Forging Relationships:
Defining Roles & Responsibilities:
Implementation of Program:
Evaluation of Effort:

3. Community Programs Center for Homeownership
Individual Development Account Program (IDA)
New Homes Program/Forsyth County Housing/ NC Housing Finance Agency
City of Winston-Salem Housing (HOME)
Community Development Block Grants
Partnership for Housing
Community Development Corporations
Habitat for Humanity

4. Center for Homeownership (CHO)
Created by City and County
A subsidy of Consumer Credit
Affordable Housing Umbrella for County
10 hours Homeownership Training
One on One Counseling
Preferred Realtor Certification Programs
Public/Private Funds of $285,000 annually
Serves over 1,000 clients per year
Over 400 Homeowners since 2002

5. Individual Development Accounts
Matched Savings Program
4 to 1 match = $5,000 Down Payment
Economic Literacy
Save $50.00 Month
Credit Repair
Debt Reduction
IDA Home Purchases = 200
Average Sales Price $112,500
Total IDA Investment = $22,612,000

6. New Homes Program County Use NCHFA funds
Provide up to $20,000 Soft 2nd Mortgage
Must be used for New Home
Can be located anywhere in Forsyth Co.
Target Families Below 80% Median HHI
County has served 300 buyers
Used $3,500,400 New Homes Funds
More Home Funds spent in Forsyth Co. than the combined total of the other 99 NC Counties

7. Partnership for Housing Habitat for Humanity Community Development Corporations
Affordable = $95,000 - $130,000
Increase supply of Affordable Homes
Partnership for Housing = 30 units per year
Habitat for Humanity = 20 units per year
CDCs = 10 units per year
Private Builders = units per year
City-County Uses funds to develop neighborhoods
Community Development Block Grant
HOME Funds