February 7, 2012. Presentation Outline Background Program Implementation Program Accomplishments...

February 7, 2012

Presentation Outline

• Background

• Program Implementation

• Program Accomplishments

• Additional NSP Activity-Rental

• Summary

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

Background

5,067

11,351

26,131

31,308

17,921

10,300

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2006 2007 2008 2009 2010 2011

Clerk of CourtsOrange County, Florida

Foreclosure Filings

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

Background

Background

NSP Activities

• Acquisition, rehabilitation, sale of foreclosed homes

• Acquisition, rehabilitation of foreclosed rental properties

• Demolition of abandoned, blighted properties

• Downpayment assistance for Homebuyers


• Background




• Summary

Program ImplementationNSP 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

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

Program ImplementationDownpayment Assistance for NSP Purchases

• Realtors identify suitable properties and buyers

• Coordinate purchase of foreclosed homes for eligible buyers

• Utilize NSP downpayment assistance

• 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


• Background




• Summary

Program Accomplishments

Properties acquired-Orange County 176

Properties assisted-Downpayment 148

Demolition of blighted properties 25

Rental units under rehabilitation 264

Total Expenditures to Date:

$31 Million

Total Expenditures to Date:

$31 Million


RehabilitationOut To Bid 15Under Construction 8

Properties Completed 75

Total Homes 98

Program AccomplishmentsHome Sales

Homes available for sale 1

Homes sold 67

Homes under contract 7

Total Homes 75


NSP Clearance/Demolition Activity

County Lien Placed on Properties – Code Enforcement Division

Total Properties Demolished 25Azalea Park 3Holden Heights 12Meadow Woods 2Pine Hills 8Total Expended on Demolition $225,600


• 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

Program AccomplishmentsProgram Income Generated

Homes are Rehabilitated

Foreclosed Homes are acquired

from bank

Neighborhood Stabilization

Program Funds

Homes are sold to

qualifiedhomebuyers

Funds recycled to acquire more homes

$5 million dollars to date


• Background




• Summary

Additional NSP ActivityMulti-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


Seville Place ApartmentsChallenges:

• High vacancy rate 70%

• High crime rate

• Project needs major rehabilitation/ re-developing


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.


Seville Place Clubhouse:Before Construction / After Construction


Seville Place Partnership Team:

• Orange County

• Seville Place Preservation LLC (Joint venture)

Related Urban Development Group

Orlando Neighborhood Improvement Corp.

Seville Place ApartmentsGroundbreaking EventSeville Place ApartmentsGroundbreaking Event


• Background




• Summary

Summary

• Stabilizing neighborhoods

• Creating & retaining jobs

• Supporting green initiatives

• Redeveloping distressed properties

February 7, 2012

February 7, 2012. Presentation Outline Background Program Implementation Program Accomplishments...

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