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How Non Profits Can Survive Recession Murray

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How Non Profits Can Survive Recession Murray

  1. 1. Reinventing for the Long Haul
  2. 2. Mission <ul><li>Dedicated to: </li></ul><ul><li>Making homes within the financial reach of Palm Beach County’s low to moderate-income working families </li></ul><ul><li>Improving economically distressed neighborhoods through a holistic and sustainable approach </li></ul>
  3. 3. History <ul><li>Founded in 1992 as Northwood Business Development Corp. to foster job creation & small business development in the Northwood historic business district </li></ul><ul><li>Broadened our focus in 1998 to address the neighborhood’s need for affordable housing & was designated a West Palm Beach CHDO </li></ul><ul><li>Completed Palm Beach County’s 1 st Comprehensive Model Block in 2001(Miracle on 34 th St.) & became Northwood Renaissance </li></ul><ul><li>Expanded in 2006 to help revitalize distressed & underserved communities throughout Palm Beach County & became Neighborhood Renaissance </li></ul>
  4. 4. Core Principals <ul><ul><li>Community driven </li></ul></ul><ul><ul><li>Comprehensive & holistic approach to neighborhood revitalization </li></ul></ul><ul><ul><li>Guided by sound urban planning principals </li></ul></ul><ul><ul><li>Equitable solutions for redevelopment </li></ul></ul><ul><ul><li>Sustainable economic development </li></ul></ul>
  5. 5. What is a Community Development Corporation (CDC)? <ul><li>Strategically redevelops areas that are economically depressed </li></ul><ul><li>Provides for a wide range of activities that stimulate & improve their local economies </li></ul><ul><li>Develop projects that better their communities including affordable housing </li></ul><ul><li>Advocate for low-income populations </li></ul>
  6. 6. The Value of a CDC <ul><li>Positive outcomes for community residents including connections to community resources </li></ul><ul><li>Focus at the neighborhood level </li></ul><ul><li>Quick implementation of new programs – flexible, entrepreneurial & transparent </li></ul><ul><li>Knowledge of neighborhood issues, trends & local players </li></ul><ul><li>Bridge between government & the private market </li></ul><ul><li>Ability to leverage resources & lesson the burden of local government </li></ul><ul><li>Dedication to the neighborhood’s long-term & sustainable recovery </li></ul>
  7. 7. Community’s Vision for Northwood Village The Courtyard: mixed-use residential/commercial & our headquarters Village Centre – mixed-use affordable housing & anchor redevelopment project Northwood art & antique festivals Streetscape improvements to Northwood shopping district
  8. 8. and its Neighborhoods Northwood CLT Home Lease/Purchase & Family Self-Sufficiency Program Model Block (Miracle on 34 th Street)
  9. 9. Neighborhood Revitalization Strategies <ul><li>Citizen planning for land-use & zoning changes </li></ul><ul><li>Business recruitment & development </li></ul><ul><li>Mixed-use redevelopment </li></ul><ul><li>Infill single-family housing development </li></ul><ul><li>First-time homebuyer assistance </li></ul><ul><li>Community Land Trust added as a preservation tool in our business model </li></ul>
  10. 10. Key Components for a Strong CDC <ul><li>Committed & engaged board </li></ul><ul><li>Experienced professional staff </li></ul><ul><li>Strategic planning </li></ul><ul><li>Effective partnerships & collaboration </li></ul><ul><li>Good internal operating procedures </li></ul><ul><li>Annual meetings, membership development & advisory committees </li></ul>
  11. 11. The Perfect Storm <ul><li>Village Centre project politically stalled </li></ul><ul><li>Economy tanked </li></ul><ul><li>Contraction of mortgage markets </li></ul><ul><li>Foreclosures </li></ul><ul><li>Deep funding cuts </li></ul>
  12. 12. Surviving vs. Reinventing for the Long Haul <ul><li>Surviving </li></ul><ul><li>Staff lay-offs </li></ul><ul><li>Cut expenses </li></ul><ul><li>Restructure projects </li></ul><ul><li>Seek new funding such as NSP </li></ul><ul><li>Reinventing </li></ul><ul><li>Direct resources to better meet changing resident needs </li></ul><ul><li>Adopt new business models </li></ul><ul><li>Refocus existing staff core capacity </li></ul><ul><li>Develop new agency core capacity </li></ul><ul><li>Collaborate & partner </li></ul>
  13. 13. New Rules <ul><li>Neighborhood Stabilization </li></ul><ul><ul><li>decrease the inventory & upgrade the quality of vacant, foreclosed properties in key target neighborhoods </li></ul></ul><ul><ul><li>plan now for neighborhood recovery & institute needed policy changes </li></ul></ul><ul><ul><li>continue to advance strategic & catalyst redevelopment projects </li></ul></ul><ul><li>Affordable Housing Preservation – preserve & reclaim existing homes as affordable rental stock for low to very low-income households </li></ul><ul><li>Family Economic Self-Sufficiency – provide tenant counseling & case management to help lower debt, raise income & increase savings </li></ul><ul><li>Collaboration & Partnership – create long-term delivery systems </li></ul>
  14. 14. Current Strategies <ul><li>CLT lease/purchase program </li></ul><ul><ul><li>Northwood, 5 single family homes leased with option to purchase by households earning less than 50% of the AMI. Includes family self-sufficiency component. </li></ul></ul><ul><ul><li>Financing Partners: Palm Beach County, Comerica, LISC </li></ul></ul><ul><li>Neighborhood stabilization affordable rental program </li></ul><ul><ul><li>Purchase, rehab & rent vacant, foreclosed homes to households earning less that 50% of the AMI in unincorporated West Palm Beach for a minimum of 20 years. Includes family self-sufficiency component. </li></ul></ul><ul><ul><li>Financing Partner: Palm Beach County NSP 1 </li></ul></ul><ul><li>Westgate/Belvedere CRA single family infill homeownership project </li></ul><ul><ul><li>New construction of 13 hurricane replacement homes to be sold to 1 st time buyers earning less than 80% AMI. Homes are priced to sell without buyer down payment assistance. </li></ul></ul><ul><ul><li>Financing Partners: Westgate CRA, Palm Beach County, Florida Community Loan Fund </li></ul></ul>
  15. 15. <ul><li> For Additional Information Contact: </li></ul><ul><ul><ul><ul><li>Terri Murray, Executive Director </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Neighborhood Renaissance, Inc. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>510 24 th Street, Suite A </li></ul></ul></ul></ul><ul><ul><ul><ul><li>West Palm Beach, FL 33407 </li></ul></ul></ul></ul><ul><ul><ul><ul><li>561-832-6776 ext. 102 </li></ul></ul></ul></ul><ul><ul><ul><ul><li>[email_address] </li></ul></ul></ul></ul>

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