March 25, 2014

Presentation Outline Background Program Accomplishments Community Partnerships Summary

Presentation Outline Background Program Accomplishments Community Partnerships Summary

Background Neighborhood Stabilization Program (NSP) created 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: Acquire and redevelop vacant and abandoned homes Stabilize neighborhoods impacted by foreclosures

Background Clerk of Courts Orange 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

NSP Activities Acquisition, rehabilitation, sale of foreclosed homes Acquisition, rehabilitation of foreclosed rental properties Demolition of abandoned, blighted properties Downpayment assistance for Homebuyers

Presentation Outline Background Program Accomplishments Community Partnerships Summary

Program Accomplishments Properties acquired-Orange County 225 Properties assisted-Downpayment154 Demolition of blighted properties 36 Rental units completed264 Total Units 679

Program Accomplishments Home Sales Homes sold 140 Homes available for sale 18 Homes under contract 24 Homes in rehabilitation 20 Total Homes 202

Program Accomplishments Prior Year Home Sales Average Acquisition Cost$89,000 Average Rehab Cost$48,000 Average Sales Price$134,000 Average Appraised Value$141,000 Average Household Income$43,000

Program Accomplishments NSP Clearance/Demolition Activity County Lien Placed on Properties – Code Enforcement Division Total Properties Demolished36 Azalea Park3 Holden Heights21 Meadow Woods2 Pine Hills10 Total Expended on Demolition$279,419

Emerald Villas Groundbreaking Event January 19, 2012

Emerald Villas Grand Opening – January 30, 2013

Emerald Villas Rents Average Resident Income: $20,000 Studio $446 a month One Bedroom $461 Two Bedroom $679 Three Bedroom $782

Program Accomplishments NSP 1 Performance Report 10/1/13 – 12/31/14 Counties Grant Amount NSP funding Program Income Received Total Amount Expended Orange County$27,901,773$10,496,143$34,084,949 City of Orlando$6,730,263$1,573,068$7,871,594 Hillsborough County$19,132,978$2,601,838$20,381,459 Duval County- Jacksonville $26,175,317$2,859,424$27,392,012 Seminole County$7,019,514$1,417,077$7,525,938

Program Accomplishments NSP 3 Performance Report 10/1/13 – 12/31/14 Counties Grant Amount NSP funding Program Income Total Amount Expended Orange County$11,551,158$2,917,763$12,879,185 City of Orlando$3,095,137$0$2,713,570 Hillsborough County$8,083,062$43,293$7,405,051 Duval County- Jacksonville $7,102,937$0$3,496,000 Seminole County$3,995,178$55,726$2,877, % expenditure deadline by March 2014

Presentation Outline Background Program Accomplishments Community Partnerships Summary

Community Partnerships Private Sector Title companies and appraisers assist with acquisition of NSP homes Realtors and lenders assist with sale of NSP homes Contractors provide the rehabilitation work

Community Partnerships Habitat For Humanity Assist Orange County in meeting the very low income requirement The Perfect Partner Experience in building and rehabilitating homes Program in place to prepare very low income households for home ownership Provides their own financing

Habitat For Humanity 6002 Avery Street - Before

Habitat For Humanity 6002 Avery St - Volunteers Replacing the Roof

Habitat For Humanity 6002 Avery Street - After

Habitat For Humanity 2116 San Jose Blvd - Before

Habitat For Humanity 2116 San Jose Blvd - Roll in Shower

Habitat For Humanity 2116 San Jose Blvd - After

Habitat For Humanity 5515 Oakfield St - Before

Habitat For Humanity 5515 Oakfield - Driveway

Habitat For Humanity 5515 Oakfield Street - After

Habitat For Humanity 5515 Oakfield St - Happy Children in their New Home

Habitat For Humanity Energy Efficient Features Exterior Features White roof shingles (reflects light) Energy efficient dual pane, low “e” windows Florida friendly landscaping used R 4.1 foil insulation on outside masonry wall (reflects heat) & R-30 ceiling insulation Interior Features 14 Seer air conditioning units Low volume water star toilets, shower heads, and aerators on bathroom faucets Fluorescent lighting & Energy Star appliances installed Programmable thermostats

Habitat For Humanity Program Data - Average Purchase Price$36,000 - Average Rehab Cost$49,000 - Average Appraisal Value$78,000 - Average Sales Price$75,000 - Average Monthly Payment*$477 * monthly payment includes the mortgage, taxes, insurance and termite bond Purchased 35 homes to date Sold 23 homes to very low income buyers

From our Habitat Families THANK YOU!

Presentation Outline Background Program Accomplishments Community Partnerships Summary

Pace of program is slowing Continue to redevelop distressed properties Generating program income Source of affordable housing