Neighborhood Stabilization Program DOORWAYS TO COMMUNITY IMPROVEMENT City of Indio, CA Neighborhood Stabilization Program National Development Council 2011 Academy

Introduction DOORWAYS TO COMMUNITY IMPROVEMENT Overview – Economic Rollercoaster PROBLEM - Rapid economic decline following the housing bubble burst Potential for crime, blight and further depression of property values Possible out migration of residents SOLUTION - create a synergistic program that leverages local resources to benefit the community 2

Core Program INDIO’S INTERVENTION Proactively addressed vacant and abandoned Bank Owned Properties Recognized by U.S. Dept. of Justice Housing Resource Center Foreclosure Prevention Initiated HUD’s Neighborhood Stabilization Program (NSP) Aggressive effort to acquire REO properties

Core Program TARGETING & ACQUISITION Focus on interior mature neighborhoods: Target health, safety, & code violations Improvements range from light to substantial remodels Primary partners - Fannie Mae & National Community Stabilization Trust Over 40 properties in inventory GOAL – extend useful life of homes with sustainable elements

Core Program QUALIFYING FAMILIES Recruitment efforts range from grassroots to social media Broad range of income levels Assistance includes credit counseling and rent to own opportunities Comprehensive marketing outreach - churches, social services, housing fairs, MLS, signage, Facebook, and targeted mailing to renters

Using Local Resources FINANCING & USE OF FUNDS Amount Neighborhood Stabilization Program (revolves 3 times) $12,202,000 City of Indio RDA (also interim purchases) $725,000 Riverside County FTHB $571,000 Federal Home Loan Bank (AHP) $390,000 Indio Water Authority Conservation Rebates $82,000 Total $13,970,000 HUD Best Practices Award - Expedient use of funds Model forms, fees and oversight

Using Local Resources PROJECT PARTNERS Department of Housing and Urban Development Indio - Code Enforcement, RDA & Water Agency Family Development Rancho Housing Alliance: AAY Realty - Realty agent Lawyers Title Co. - Title escrow Capital Realty Analyst – Appraiser Good Neighbor Services- Housing Counseling Sheltering Wings - Property maintenance Desert ARC - Property maintenance Martha’s Village- House-sitters Home Depot WIN Center - Youth Training Habitat for Humanity Riverside County EDA

Using Local Resources LEVERAGING RESOURCES GOAL: Reinvestment in the community Local hiring preference Local suppliers for services and materials House sitter program Localized networks for outreach Increase in Market Values

Project Benefits INNOVATIVE PROJECT Simple model expanded beyond expectations Maximizing leveraged resources to generate greatest social and economic impact Creating partnerships with non-profit and for-profit agencies Local job creation preference Job training opportunities for at-risk adults

Project Benefits BENEFITS TO FAMILIES Homeownership opportunities for below poverty to moderate income levels Rent to own options Family stability & Financial education Increased community pride Sustainable & energy efficient features Healthy home environment

Program Benefits BENEFITS TO THE COMMUNITY Stabilization of blighted neighboring properties Infusion of funding back into the City Retail taxes paid $250,000 Local workforce hiring - Over 1,250 jobs- $2.5 million in wages Reduction in local crime. Support for local businesses - $2.5 mil. in purchases Energy and Water Conservation Increased property values - estimated at 15%

DOORWAYS TO COMMUNITY IMPROVEMENT CONCLUSIONS DOORWAYS TO COMMUNITY IMPROVEMENT Project Success & Replication Realized opportunities never expected Easily replicated in any community Grown beyond expectations Integrated local partnerships/resources Complements other community programs Systemic investment in families and neighborhoods