1. Implementing NSP-1 in Boston A presentation for the 2009 NCDA Annual Conference San Antonio, Texas

2. Before NSP Hendry Street Foreclosure Intervention Team (FIT) designated by Mayor Menino City of Boston acquisition and disposition of foreclosed properties in Hendry Street FIT area Designation of additional FIT areas in Dacia Street & Langdon St.

3. HENDRY STREET – SPRING 2008

5. City REO Acquisitions 15 HENDRY, PURCHASED & SOLD FOR $69,000 17 HENDRY, PURCHASED FOR $100,000 & SOLD FOR $69,900 19 HENDRY, PURCHASED FOR $69,000 (3 condos @ $23,000) & SOLD AS 3-FAM FOR $87,050 21 HENDRY, PURCHASED FOR $69,000 (3 condos @ $23,000) & SOLD AS 3-FAM FOR $87,050 11 COLEMAN, NEGOGIATED PURCHASE PRICE OF $95,000 FOR DEVELOPER

6. HENDRY STREET – SPRING 2009

8. NSP-1 Allocation Boston received a direct allocation from HUD of $4,230,191 Boston is one of only 4 communities in New England that received direct allocations (all 4 in MA) Boston also received a matching grant from the state’s NSP allocation

9. NSP-1 Activities ProgramsCITY NSPSTATE NSP Total% REO Reclamation Fund: Turnkey Ownership $1,000,000 $2,000,00024.2% REO Reclamation Fund: Rental $500,000 $1,000,00012.1% REO Reclamation Fund: Permanent Supportive Housing $1,057,548 $2,115,09625.6% Land Bank Acquisition Program $125,000 $250,0003.0% REO Buyer Incentive $250,000 $500,0006.1% REO Buyer Development/TA $146,500 $293,0003.5% REO Purchase/Rehab $750,000 $1,500,00018.2% NSP Program Cost Subtotal $3,829,048 $7,658,09692.7% Grantee Administration & Planning$401,143$201,529$602,6727.3% Subtotal - NSP Funded Programs$4,230,191$4,030,577$8,260,768100.0%

10. TURNKEY OWNERSHIP 1 MARION PLACE PURCHASE PRICE: $67,000 APPRAISED VALUE: $75,000 SELL PRICE: $67,000 *Not in NSP Target Area 22 ROCKWELL STREET PURCHASE PRICE: $192,000 APPRAISED VALUE: $170,000 SELL PRICE: $170,000

11. REO PURCHASE/REHAB & SUPPORTIVE HOUSING 302 FULLER STREET PURCHASE PRICE: $176,000 50 BRADSHAW STREET PURCHASE PRICE: 5 CONDOS @ APPROX. $50,000 EACH

12. DOWNPAYMENT ASSISTANCE 71 WEST COTTAGE $25,000 – NSP/DACIA FIT 2999 WASHINGTON ST $15,000 – NSP

13. Change in Median Price, 2007-2008

15. 42-44 WOODBINE STREET NEGOGIATED PURCHASE PRICE FOR LOCAL CDC: $89,000 42-44 WOODBINE STREET NEGOGIATED PURCHASE PRICE FOR LOCAL CDC: $89,000 WILL BE FEATURED ON THIS OLD HOUSE 21 DACIA STREET PURCHASED BY LOCAL CDC

16. DRGR – Projects & Activities All 8 budget programs (projects) set up in DRGR Only 2 activities set up so far: $9,999 for appraisals $26,450 for 8-hour homebuyer education courses Using City funds first, reimburse with NSP

17. For More Information: Robert Gehret, Deputy Director City of Boston Department of Neighborhood Development 26 Court Street, 8thfloor Boston, MA 02018 Phone: 617-635-0242 E-mail: bgehret.dnd@cityofboston.gov