DCD Neighborhood Stabilization Program

Document Sample
DCD Neighborhood Stabilization Program Powered By Docstoc
					DCD Neighborhood
Stabilization Program
    Overview of Program
County Investments to NSP-
eligible communities 2002-present

   Coatesville: $3,058,707.87
   Downingtown: $1,726,900
   South Coatesville: $1,022,869.74
   Modena: $546,140.50

   Total Investments: $6,354,618.11
    *Includes County Community Revitalization Program and Federal
    Community Development Block Grant funding*
Neighborhood Stabilization
Program (NSP)

   Created by the Housing and Economic
    Recovery Act of 2008
   To stabilize towns, cities and
    neighborhoods affected by high rates
    of foreclosure and sub-prime lending
   Funds have been allocated to the PA
    Department of Community and
    Economic Development
NSP Highlights (I)
   18 month expenditure/“firm”
    obligation requirement
   25% of funds must assist individuals
    at or below 50% AMI (25/50 rule)
   Prohibition of foreclosure “prevention”
    activities (see handouts for
    foreclosure prevention resources)
NSP Highlights (I)

   Most Federal guidelines for
    Community Development Block Grants
    (CDBG) will be imposed – CDBG
    experience is a significant factor
   Income generated by NSP funds must
    be reused or returned – No Profits
   Geographic & Statistic-based need for
    NSP funding – see maps next slides
     Statewide Risk

1.   Allegheny County $5.5 million   4. Pittsburgh $2 million
2.   Allentown $2.1 million          5. York County $2 million
3.   Philadelphia $16.8 million      6. Pennsylvania State $59.6 million
County Risk

• Also all of Modena (7) and South Coatesville (9) Boroughs
NSP Eligible Activities
   Establishing Financing Mechanisms
    (foreclosed and abandoned properties)
   Acquisition, Rehab, Resale (foreclosed
    and abandoned properties)
   Land Banks (foreclosed properties)
   Demolition (blighted properties)
   Redevelopment – includes new
    construction and housing counseling
    (vacant or demolished properties)
DCED (State Agency) Guidelines

   Applications must be postmarked by
    February 6, 2009
   Applications based on a 100 point scoring
   Eligible Areas
     Qualified Need Area – HUD risk score of
       6 or higher
     Priority Need Area – Risk score of 8 or
Key Factors and Strategies (I)

   Partnership with PA DCED – the State
    has its own set of priorities and
   Focus on residential neighborhoods
   Address foreclosure recovery and
    stabilization in the short term
Key Factors and Strategies (II)
   Understanding opportunities and
    circumstances in Chester County
   Realistic approach to funding request
    – performance driven contracts
   Site control and acquisition challenges
   Funding must be tempered by the
    reality of the market and ability for
   NSP is not a profit-making program
County Partners in NSP (I)

   PA Dept. of Community and
    Economic Development
   City of Coatesville
   Borough of South Coatesville
   Borough of Modena
   Chester County Sheriff and
County Partners in NSP (II)
   Habitat for Humanity
   Community, Youth and Women’s
   Consumer Credit Counseling Service
    of Delaware County (Coatesville
   Housing Partnership of Chester
   Community Impact Legal Services
NSP Public Comment

   Please send comments to the Dept. of
    Community Development by February
    2, 2009:
     Attention: Patrick Bokovitz, Director

     Phone: 610-344-6900

     E-mail:

     601 Westtown Road, suite 365
       West Chester, PA 19380
    NSP Activities
$2.5 million proposal, with the potential for
   additional federal funds being released:
 Targeted Acquisition, Rehabilitation,
 Redevelopment & New Construction
       Cambria Terrace
   Demolition
       Consideration for assistance to homes affected by
       Other blighted, vacant properties
NSP Target Area


                                 Third Ave
                  River          Streetscape
                          Main Street
         Historic Dist.