1. February 7, 2012

2. Presentation Outline Background Program Implementation Program Accomplishments Additional NSP Activity-Rental Summary

3. Presentation Outline Background Program Implementation Program Accomplishments Additional NSP Activity-Rental Summary

4. Background Neighborhood Stabilization Program (NSP) created by Congress to respond to rising residential foreclosures Orange County awarded $27.9 million for NSP 1 in 2009 $11.5 million for NSP 3 in 2011 Primary goals were: Rapidly reduce vacant and abandoned homes in target areas Stabilize neighborhoods impacted by foreclosures

5. Background Clerk of Courts Orange County, Florida Foreclosure Filings

6. Background NSP Program Requirements Program must serve low to moderate income families 25% of program funds must serve very low income families Selection of target areas with greatest need

7. Background

8. NSP Activities Acquisition, rehabilitation, sale of foreclosed homes Acquisition, rehabilitation of foreclosed rental properties Demolition of abandoned, blighted properties Downpayment assistance for Homebuyers

9. Presentation Outline Background Program Implementation Program Accomplishments Additional NSP Activity-Rental Summary

10. Program Implementation NSP Partners Housing and Community Development Division Real Estate Division Purchasing Division Code Enforcement Division Habitat for Humanity Orlando Realtors Mortgage Brokers and Financial Institutions Contractors Appraisers

11. Program Implementation County Initiated Acquisition Orange County coordinates the acquisition, repair and sale of NSP homes Realtors assist with acquisition and sales Rehabilitation work conducted by private companies

12. Program Implementation Downpayment Assistance for NSP Purchases Realtors identify suitable properties and buyers Coordinate purchase of foreclosed homes for eligible buyers Utilize NSP downpayment assistance

13. Conducted workshop trainings for realtors and lenders Issued request for qualifications for contractors Use of the media: Print media Multiple Listing Service (MLS) County web site Program Implementation NSP Marketing

14. Presentation Outline Background Program Implementation Program Accomplishments Additional NSP Activity-Rental Summary

15. Program Accomplishments Properties acquired-Orange County 176 Properties assisted-Downpayment 148 Demolition of blighted properties25 Rental units under rehabilitation264 Total Expenditures to Date: $31 Million Total Expenditures to Date: $31 Million

16. Program Accomplishments Rehabilitation Out To Bid15 Under Construction 8 Properties Completed 75 Total Homes98

17. Program Accomplishments Home Sales Homes available for sale 1 Homes sold 67 Homes under contract 7 Total Homes 75

18. Program Accomplishments NSP Clearance/Demolition Activity County Lien Placed on Properties – Code Enforcement Division Total Properties Demolished25 Azalea Park3 Holden Heights12 Meadow Woods2 Pine Hills8 Total Expended on Demolition$225,600

19. Program Accomplishments Successful partnership with Habitat for Humanity Orlando Awarded $1.6 million to Habitat Single family acquisition, rehabilitation, and sale to low income families Pine Hills targeted area Acquired 11 homes Sold 5 homes 5 under construction

20. Program Accomplishments Program Income Generated Homes are Rehabilitated Foreclosed Homes are acquired from bank Neighborhood Stabilization Program Funds Homes are sold to qualified homebuyers Funds recycled to acquire more homes $5 million dollars to date

21. Presentation Outline Background Program Implementation Program Accomplishments Additional NSP Activity-Rental Summary

22. Additional NSP Activity Multi-Family Re-development Project Seville Place Apartments: RFP award for Seville Place approved by the Board on June 8, 2010 Property located at 3124 Pine Hills Rd Across the street from new Evans High School Contained 444 units housed in 46 apartment buildings Property was in foreclosure since March 2009

23. Additional NSP Activity Multi-Family Re-development Project Seville Place Apartments Challenges: High vacancy rate 70% High crime rate Project needs major rehabilitation/ re-developing

24. Additional NSP Activity Multi-Family Re-development Project Seville Place Apartments Scope of Work: Reduction in density with demolition of 180 units, bringing complex to 264 units New roof, plumbing, windows, cabinets, flooring and appliances HVAC systems and landscaping Construction of new club house as major focal point for the complex.

25. Additional NSP Activity Multi-Family Re-development Project Seville Place Clubhouse: Before Construction / After Construction

26. Additional NSP Activity Multi-Family Re-development Project Seville Place Partnership Team: Orange County Seville Place Preservation LLC (Joint venture) Related Urban Development Group Orlando Neighborhood Improvement Corp.

27. Seville Place Apartments Groundbreaking Event

28. Presentation Outline Background Program Implementation Program Accomplishments Additional NSP Activity-Rental Summary

29. Stabilizing neighborhoods Creating & retaining jobs Supporting green initiatives Redeveloping distressed properties

30. February 7, 2012

31. Program Implementation Buyer Incentives: $10,000 Moderate $15,000 Low $20,000 Very Low Closing cost assistance 15 year non-amortized note at 0% interest

32. Program Implementation Buyer Incentives Orange County Second Mortgage History 1994-1997 5 year, 0% interest, monthly amortizing note 1998-2002 10 year, 0% interest, monthly amortizing note 2003-2006 20 year, 0% interest, monthly amortizing note 2007-Present 15 year, 0% interest, non-amortizing note