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Ensuring Affordable Housing  Moore
 

Ensuring Affordable Housing Moore

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  • Our purpose is to create a quality environment by identifying opportunities to improve our community
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?
  • This goal shows that residents and businesses in the CRA are willing to try new ideas and solve pressing problems such as the need for affordable housing Only 44% of the occupied housing units in the CRA are owner-occupied compared with 67% citywide Many people do not earn enough money to save for a down payment on a home-they may also have credit problems With a rent to own program a portion of rent payments is set aside for down payment while counselors provide credit and financial counseling This could apply to new homes as well as homes that need repair Although used in other states, this idea is found in only a few areas of Florida Time and effort is needed to make it work So what did the survey say?

Ensuring Affordable Housing  Moore Ensuring Affordable Housing Moore Presentation Transcript

  • City of Winter Park Community Redevelopment Agency Florida Housing Coalition Conference 9/22/09
  • Presentation Agenda
    • What is a CRA?
    • Characteristics of the Winter Park CRA
    • Affordable Housing History and Issues Going Forward
  • CRA Establishment
    • Authorized under FL Statute 163 Part III
    • Established by local resolution
    • Based upon an adopted finding of “blight”
    • Planned remedy through an agreed upon CRA Plan by the Municipality and the County.
  • Tax Increment Financing
    • CRA’s leverage the marginal increase in tax revenues from both the City and County to perform its mission.
    • The City and County contribute the majority of the taxes from the tax base revenue collected in excess of the base year to the CRA for a set period of time.
    • The CRA uses the revenue to issue debt to finance projects and programs.
  • Oversight
    • The CRA Agency is made up of the City Commission plus a representative from Orange County to make all final decisions.
    • The CRA Advisory Board is made up of Community Volunteers who meet and make recommendations to the Agency.
    • County Board of Commissioners has oversight to approve or disapprove of projects funded by debt financing.
  • How can the CRA Expend Funds –FS 163
    • Each CRA, by virtue of its unique issues and solutions as presented in the CRA Plan, has latitude in interpreting justifiable CRA expenditures.
    • Generally, as long as the activity is part of the adopted Plan, advances the CRA's stated redevelopment goals and objectives and is clearly for a public purpose, it is appropriate to use CRA money.
    • And yes, Affordable Housing is specifically mentioned as a valid expenditure.
  • What is not a CRA Qualified Expense –FS 163
    • CRA Funds may not supplement General Fund dollars. In other words, if it is something the City has customarily paid for by itself, or if the City was planning to pay for the activity by itself, then it's probably not an appropriate expenditure for Trust Fund dollars. Examples are: CRA Funds are NOT to be used for construction or expansion of administrative buildings.
    CRA does not stand for Cash Right Away!
    • CRA Funds may not be used for installation construction, reconstruction, repair or alteration of any publicly owned capital improvements unless they are an integral part of a redevelopment project as outlined in the CRA Plan.
    • CRA Funds may not be spent on general operating expenses unrelated to planning or carrying out community redevelopment.
    What is not a CRA Qualified Expense Cont. –FS 163 Bottom Line: If it’s not in your Plan, don’t do it.
  • The Winter Park CRA
    • Plan adopted in 1994
    • CRA area expanded in 1999
    • CRA Strategic Plan approved in 2007
        • Outlined goals for next four years
    • CRA sunsets in 2027
    • A slightly different CRA
        • Social Mandate
  •  
  • Map of the CRA C R A M A P
  • Demographics
    • Summary:
    • Central Business District w/Half of all Businesses
    • Low Income Residential Area w/ 10% of City’s Population
    • Low Homeownership
    • Higher Vacancy Rates
    2006 Data CRA City of Winter Park Total Population 2,884 27,868 Owner Occupied Housing Units 39% 62% Renter Occupied Housing Units 50% 31% Vacant Housing Units 12% 7% Median Household Income $ 34,730 $ 60,495 Total Businesses 1,531 2,748
  • Why Affordable Housing?
    • Demonstrated need
      • Median home price above $400K
      • Lower ownership rate w/in CRA
    • Sustainability of businesses
      • Commute times and gas prices
      • Competitiveness of town centers
    • Preservation of character
      • Historic neighborhoods and styles
    • Maintenance of the tax base
    • 2007 CRA Strategic Plan
      • Identified affordable/workforce housing as one of its 6 goals
  • Affordable Housing Initiatives
    • Affordable Housing Linkage Fee
      • Established in 1990
      • 50 cents per square foot of all new construction and major renovations
      • Funding is placed in the Affordable Housing Trust Fund and can be used for any expenditure that promotes affordable housing.
      • Approximately $2.7 million in funds collected since inception.
  • Affordable Housing Initiatives
    • Habitat for Humanity
      • Funded by the Affordable Housing Fund
      • City has donated close to 40 lots.
      • Habitat worked with City to develop a local model that fit with the surrounding neighborhood.
  • Affordable Housing Initiatives
    • Railroad Ave Apartments
      • Funded by the Affordable Housing Fund and other community partners
      • 2004 project that replaced 29 dilapidated residences with 30 new apartments
      • 9 of the original homeowners moved back into the new development and the City subsidized their temporary housing during the transition
      • Winter Park Housing Authority Manages the Property
      • City contributed $1 million of the $2.7 million cost
  • Affordable Housing Initiatives
    • Winter Park Housing Authority
      • Manages approximately 700 affordable housing units in the City
      • City provided $1 million from the Affordable Housing Trust Fund to be paid over 10 years to help preserve the affordability of 196 senior apartments.
      • Manages the City’s Railroad Ave Apartments
  • Affordable Housing Initiatives
    • Housing Rehabilitation Program
      • CRA funded program
      • Established in 2002
      • Performed over 130 rehabilitations of low income housing within the CRA
      • Provides up to $20,000 for qualified improvements to reduce displacement of low income families, promote health and safety, and beautify neighborhoods.
      • Almost $1.4 million spent or allocated through FY 2010
  • Affordable Housing Initiatives
    • Hannibal Square Community Land Trust
      • CRA/City funded program
      • Established in 2004
      • Completed 14 houses to-date
      • Mission to provide perpetually affordable/workforce housing in Central Florida.
      • Programs include educational components for homeowners, rent-to-own, and subsidy assistance.
      • City contributed lots for existing housing and has a memorandum of understanding for additional land grants.
      • CRA contributed $1 million in capital to build projects.
  • Canton Park West Comstock
  • Promotion and Funding
    • How do you promote the cause of Affordable Housing in the current economic environment?
      • Less pressure on gov’t agencies to fund affordable housing
        • No one wants to build new construction
        • Federal programs for housing
        • Prevalence of foreclosures
        • Collapse of condo market
  • Promotion and Funding
    • How do you promote the cause of Affordable Housing in the current economic environment?
      • Shift Focus
        • From New to Pre-Owned
          • Not interested in new developments
        • Reuse & Renovation
          • Housing rehab
        • Innovative Concepts
          • CLTs: Perpetual affordability
        • Plan for the future
          • Buy assets now
        • Be the Best
  • Questions? Peter Moore Assistant Director Community Redevelopment Dept. 407-599-3567 [email_address]