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HSCLT Development Sponsorship Presentation V2.pptx
- 1. PARTNER WITH US TO PROVIDE HOMEOWNERSHIP OPPORTUNITIES FOR OUR FRONTLINE WORKFORCE
- 2. HANNIBAL SQUARE COMMUNITY LAND TRUST SERVING ORLANDO MSA – Orange Lake Seminole Osceola WE OFFER – Affordable Homeownership Townhomes Single Family Detached Affordable Rentals Apartments Single Family Detached Retail Lease
- 3. COMMUNITY LAND TRUSTS (CLTs) NOT A LAND CONSERVATION TRUST OR REAL ESTATE TRUST NON-PROFIT COMMUNITY-BASED GOAL IS TO PRESERVE AFFORDABILITY LEASE HOLDERS ARE MEMBERS OF THE CLT
- 4. HANNIBAL SQUARE COMMUNITY LAND TRUST Founded in 2004 Historic West Winter Park neighborhood named Hannibal Square Seed money and first parcels of land from Winter Park CRA HSCLT mission: Permanent, affordable housing Economic inclusion Financial education Neighborhood stability
- 5. HOMEOWNERSHIP OPPORTUNITIES FOR MANY WHO MAY ORDINARILY BE LOCKED OUT AFFORDABLE RENTALS — WITH PATHWAY TO HOMEOWNERSHIP INCREASED HOMEOWNERSHIP = STRONGER ECONOMY + SAFER COMMUNITIES NEEDED HOMES FOR OUR WORKFORCE
- 6. BUYER PROFILE • 2 INCOMES = 1 BEDROOM • WOULD LIKE A SAFE PLACE FOR THEIR DAUGHTER HANNIBAL SQUARE COMMUNITY LAND TRUST
- 7. BUYER PROFILE • SINGLE MOM FINDING A PERMANENT PLACE FOR HER CHILDREN HANNIBAL SQUARE COMMUNITY LAND TRUST
- 8. BUYER PROFILE • ELEMENTARY SCHOOL TEACHER • BELIEVES IT TAKES A VILLAGE TO RAISE A CHILD HANNIBAL SQUARE COMMUNITY LAND TRUST
- 9. HOW IT WORKS HOME PRICE – LAND = AFFORDABLE CLT TAKES THE LAND OUT OF THE EQUATION— ALLOWS BUYER TO PURCHASE MORE HOME FOR THE MONEY MARKET MODEL: Land + House = Home Price CLT MODEL: Home Price – Land = Affordable Ex. $ 360,000 – $99,750 = $260,250 ACCESS TO HOMEOWNERSHIP INTERGRATION OF INCOMES SAME TAX BENEFITS AS STANDARD OWNERSHIP NEIGHBORHOOD STABILITY THROUGH HOMEOWNERSHIP ACCESS TO HOMEOWNERSHIP INTERGRATION OF INCOMES SAME TAX BENEFITS AS STANDARD OWNERSHIP
- 10. BENEFIT: ECONOMIC STABILITY ALLOWS FAMILY TO USE MORE OF THEIR INCOME FOR FOOD AND OTHER NECESSITIES. COMMUNITY LAND TRUSTS PROVIDE A STEPPING-STONE FOR BUILDING WEALTH
- 11. BENEFIT: COMMUNITY IMPACT CLT AS INTERMEDIARY BETWEEN HOMEBUYER, MORTGAGE HOLDER, LOCAL GOVERNMENT CLT BOARD INCLUDES HOMEOWNERS COMMUNITY EVENTS AND HOMEOWNER WORKSHOPS COMMUNITY IS THE KEY
- 12. BENEFIT: HOMEOWNER PERKS PURCHASER PAYS PROPERTY TAXES AND CAN CLAIM HOMESTEAD EXEMPTION SAME MORTGAGE INTEREST DEDUCTIONS ON FEDERAL INCOME TAXES EQUITY FROM PROPERTY VALUE APPRECIATION
- 13. AFFORDABLE HOMEOWNERSHIP 30 UNITS 3BR/2.5BA 1664 SF 2-CAR GARAGE BALCONY & FRONT PORCH ORLANDO PHASE 1: THE TOWNHOMES AT WEST LAKES
- 14. MIXED-USE RESIDENTIAL – ECONOMIC INCLUSION ORLANDO PHASE 2 – THE PROMENADE AT WEST LAKES
- 15. THE PROMENADE (MIXED USE) MIXED-USE RESIDENTIAL Meeting the needs of the neighborhood and the activities at Tinker Field and Camping World Stadium RETAIL SPACE 15,000+ SQ FT ROOF-TOP AMENITIES EATERIES MICRO-RETAIL SMALL PRODUCE GROCER OUTDOOR SEATING AND DINING
- 16. CURRENTLY DEVELOPING - APOPKA Future site for Cornerstone at Sixth Townhome Development
- 17. AFFORDABLE HOMEOWNERSHIP POCKET PARK & PAVILLION 24 UNITS 3BR/2.5BA 1667 SF APOPKA — CORNERSTONE AT SIXTH
- 18. SPONSORSHIP LEVELS $50,000 ⁻ Funds directly reduce construction costs for 2 homes ⁻ Name recognition in welcome packages $100,000 ⁻ Reduce the costs to build 4 homes ⁻ Name recognition in welcome packages, website + social media $250,000 ⁻ COMMUNITY CO-SPONSOR ⁻ Name recognition on construction banners, in welcome packages, website + social media and other promotions $500,000 ⁻ COMMUNITY CO-DEVELOPER ⁻ Name recognition on Permanent Neighborhood Signage, construction banners + welcome packages, website + social media and other promotions
Editor's Notes
- Whether we call it “affordable housing”, “attainable housing” or “workforce housing, the cost of housing has skyrocketed in the Orlando area and throughout the entire State. Hannibal Square Community Land Trust is addressing the issue by building 54 new townhomes in two central Florida communities and 5 single family homes on infill, scattered lots. These new homes will provide homeownership opportunities for low- to moderate-income working families. Our frontline workers such as teachers and firefighters.
- Our housing mix includes: SFD, TOWNHOMES, APARTMENTS– we are also expanding into retail leases
- Member-based, non-profit established to preserve land for a community goal (i.e. community farmland, community retail/commercial space, affordable housing, etc.). Community is the key. Stewardship: maintains community access for the long-term. Governed by a volunteer board that includes CLT lease holders and like-minded members of the community. 250-300 CLTs throughout the United States—typically in places where land value outpaces income.
- FOUNDED as an ANTI-DISPLACEMENT vehicle to CREATE Permanent affordability for low- to moderate-income working families (i.e. , teachers, police officers, GOVERNMENT EMPLOYEES; grocery store employees, hospital staff). TO CARVE OUT A NICHE IN AN AREA THAT WAS BECOMING INCREASING LESS AFFORDABLE HSCLT was formed in 2004 after residents of the west side of Winter Park organized to voice their concerns to members of the City Council about the PREDATORY land grab that had been taking place in Hannibal Square since the late 1990’s. City Council agreed that there was a problem and, with the residents, formed the Westside Housing Task Force to determine the best way to address the issue. Seed Money and LAND: A street was carved through the parcels and named “Israel Simpson Court” after Frank R. Israel and Walter B. Simpson—Winter Park’s only elected African-American councilmen who served between 1887 and 1893.
- Our primary focus is HOMEOWNERSHIP – The lowest hanging fruit for narrowing the wealth gap. Homeownership stabilizes NEIGHBORHOODS—BUILDS COMMUNITY WAGES HAVE NOT KEPT UP WITH the COST OF LIVING Only 50% of people born in 1980 were able to earn more money than their parents did when they entered the workforce. Stagnant wages, increased wage disparity, and the steady increase in cost of living and housing expenses have helped to create a perfect storm. Between 2005 and 2015, the number of homes renting for $2,000 or more increased by 97 percent—Harvard Joint Center for Housing 90 percent of people born in 1940 were able to earn more money than their parents when they entered the workforce.
- Setting Roots for Their Daughter - YouTube
- Mom of 2 Leaving Something for Her Kids - YouTube
- Elementary School Teacher - YouTube
- IDEALLY, LAND IS DONATED TO THE CLT Land Value is deducted from the full market value after construction as the first subsidy to the buyer Mixed-income neighborhoods are more sustainable than strictly low-income, etc. Key is having no visible distinction between low-, moderate-, and market-rate houses. GENTRIFICATION HAPPENS IN NEIGHBORHOODS WITH LOW (owner-occupied) HOMEOWNERSHIP RATES.
- Homeownership is an opportunity to build wealth. LOWER MONTHLY HOUSING PAYMENTS; CONSISTENT MONTHLY PAYMENTS (vs-RENTS that INCREASE) EQUITY FROM PAYING DOWN MORTGAGE; EQUITY FROM APPRECIATION IN PROPERTY VALUE
- The relationship doesn’t end after the house is purchased HOMEOWNERS HAVE A SAY IN WHAT THE CLT DOES
- EQUITY FROM APPRECIATION IN PROPERTY VALUE AS WELL AS DOWN MORTGAGE
- The new townhomes will increase the homeownership rate in this Census tract by 5%. Because of our community land trust model, these homes will be permanently affordable—meaning that the first buyers are required to sell to another family needing an affordable home, should they choose to sell in the future.