1. Cobblestone Terrace Kris Clements John Lewis Community Services Davenport, Iowa

2. Cobblestone Terrace John Lewis Community Services- Developer Housing Services Supportive Services Community Meal Site Neighborhood Advocacy Movement Supportive Youth Services Community and Housing Development Services

3. Cobblestone Terrace John Lewis Community Services Housing Services: Including shelter, transitional, permanent supportive rental units, master lease program, homeownership rehab and loan programs, multi-family rehab program and single family in-fill homes

4. Cobblestone Terrace John Lewis Community Services Community and Housing Development Services: A service that includes housing development, construction management, property management services, financial literacy programs, grant writing and research, technology services, and facilitation of collaborative projects in support of the mission of JLCS

5. Cobblestone Terrace Cobblestone Terrace Site & Project Description 10 Single Family homes 1200-1450 sq. ft. 2.6 acres Established neighborhood, across from an elementary school and community center No new development in over 40 years Zoned R-4

6. Cobblestone Terrace

8. Streetscape

9. Cobblestone Terrace ROSE – Renters to Owners Savings Equity Program Affordable housing targeting working families & Individuals at <40% - 50% AMI $50 of rent per month placed in secured savings program towards home purchase Tenants participate in individualized training towards home ownership skills, budgeting and financial literacy classes, debt and credit counseling, maintenance & repair classes, and ongoing supportive services.

10. Cobblestone Terrace Purpose: To create new homeownership opportunities for working, income limited families who desire to achieve the American dream of owning their own home.

11. Cobblestone Terrace Multiple Goals Create Home Ownership Incubator Serve 35 Families Create new buyer pool for local neighborhood Improve local affordable housing stock

12. Cobblestone Terrace Incomes & Unit Rents 40%-4 people <$ 23,200.00 50%-4 people <$ 29,000.00 Actual Rents w/o Utilities 40% AMI 3 Bd. = $407 50% AMI3 Bd.= $470 50% AMI 4 Bd.= $541 (Reviewed Sept 2005)

13. Cobblestone Terrace R.O.S.E. Unique because it brings together organizations representing a broad range of expertise and experience in fields associated with homeownership such as mortgage financing, housing development and real estate, and critical support services.

14. Cobblestone Terrace Partners Local banks, mortgage companies Local Community based organizations – John Lewis, United Neighbors, Interfaith Housing, DREAM Program Lead Alliance Iowa Department of Economic Development City of Davenport HOME

15. Cobblestone Terrace Lending Partners Mortgage counselors specially trained in affordable lending products and services Down payment assistance available through local programs Mortgage loans (also known as “portfolio” loans) offered as part of efforts to comply with the federal Community Reinvestment Act.

16. Cobblestone Terrace Supportive Services Partners Pre-Purchase Borrower Education and Counseling Homebuyer education class Consumer credit counseling Homeownership plan Budget preparation and mortgage financing counseling Home Maintenance Skills training

17. Cobblestone Terrace DREAM Program Serves 70-80 Families annually Home Buyers Education Classes Down Payment assistance Rehabilitation/Lead remediation assistance – Up to $24,999 improvements resulting in a 5 year forgivable loan for the cost of the work.

18. Cobblestone Terrace First Time Home Buyers & Lead Estimated 4.4% of 1-5 year olds (890,000 children) living in pre-1950 housing rates are highest for 1-2 year old kids 11.2% of black children over 50% of children screened in some inner city communities

19. Cobblestone Terrace Lead-Safe Partnerships Provide: Inspectors: Test for the presence of LBP using special equipment Risk Assessors: Test for the presence of LBP hazards and make recommendations Certified contractors: Contractors who have been state certified to perform LBP hazard control

20. Cobblestone Terrace Desired Outcomes Provide Affordable Home Ownership Options Increase Housing Affordability Increased equity in first home Upgrade Existing Housing Assist 35 families toward homeownership

21. Cobblestone Terrace Recommendations/Issues NIMBY misinformation Year 15 LITCH Unit sale price – to sell or not to sell Rising interest rates Need for Post closing education strategies

22. Cobblestone Terrace Contact Information Kris Clements John Lewis Community Services Director of Property Services 563-823-0508 kclements@jlcs.org