february 17, 2009 orange county neighborhood stabilization program update
TRANSCRIPT
February 17, 2009 February 17, 2009
Orange CountyOrange CountyNeighborhood Neighborhood
Stabilization Stabilization Program Program UpdateUpdate
Presentation Outline
• Background
• Initial NSP Implementation Strategy
• Revised NSP Implementation Strategy
• Action Requested
Presentation Outline
• Background
• Initial NSP Implementation Strategy
• Revised NSP Implementation Strategy
• Action Requested
Background
• Neighborhood Stabilization Program (NSP) was created to respond to rising residential foreclosures and property abandonment.
• Orange County was allocated $27.9 million
• Board of County Commissioners approved the County’s NSP Plan on November 18, 2008.
• Expenditure deadline for NSP funding 18 months from execution of Grant Agreement with HUD
Orange County Foreclosure FilingsOrange County Foreclosure Filings
Background
5,067
11,351
26,131
0
5,000
10,000
15,000
20,000
25,000
30,000
2006 2007 2008
Orange County Foreclosure Activity
Background
Background
Selected NSP Target Areas:
• Meadow Woods
• Pine Hills
• Azalea Park
• Holden Heights/Oak Ridge
• Union Park
Background
NSP Activities:•Acquisition, rehabilitation and sale of foreclosed
homes
•Acquisition and rehabilitation of foreclosed rental properties
•Demolition of abandoned and blighted properties•Redevelopment of demolished or vacant
properties•Financial Mechanisms for homeownership
including:– Downpayment assistance– Closing cost assistance
Presentation Outline
• Background
• Initial NSP Implementation Strategy
• Revised NSP Implementation Strategy
• Action Requested
Initial NSP Implementation Strategy
• Housing and Community Development Division would coordinate with other nonprofit housing development agencies
• Non-profit agencies would acquire, repair and sell NSP homes– Hold title to properties– Issue bids– Monitor construction– Pay vendors– Sell homes
Initial NSP Implementation Strategy
Concerns:
• Title to properties
• Liability and risk
• Limited control
• Inability to ensure objective procurement process
Presentation Outline
• Background
• Initial NSP Implementation Strategy
• Revised NSP Implementation Strategy
• Action Requested
Revised NSP Implementation Strategy
• Orange County will hold title to all the properties and coordinate the following:
– Acquisition, repair and sale of NSP homes
– Work with all private companies to provide needed services
– Work with the nonprofit partners to assist us in achieving program requirements
– Create Internal NSP team
Revised NSP Implementation Strategy Create Internal NSP Team
Housing Repairs Fiscal
NSP AdministrationMitchell Glasser, Manager
Frantz Dutes, Assistant Manager
NSP AdministrationMitchell Glasser, Manager
Frantz Dutes, Assistant Manager
Acquisition
Legal
Ex-Officio
Legal
Ex-Officio
County Administration Linda Weinberg, Deputy County
Administrator
County Administration Linda Weinberg, Deputy County
Administrator
OVERSIGHT COMMITTEE
Marketing and Sales
PurchasingPurchasingReal EstateReal Estate Neighborhood
Services
Neighborhood
Services
Revised NSP Implementation Strategy
Purchasing and Contracts Division:
•Coordinate with Purchasing to secure required services such as:
– Contractors
– Survey
– Appraisal
– Title Company
– Lawn Maintenance
Revised NSP Implementation Strategy
Oversight and Accountability:
•Bi-monthly meetings with oversight committee
•Quarterly reports to BCC
•Quarterly reports to HUD
Revised NSP Implementation Strategy
Executed HUD Agreements- Issue Bids for Services
- Identify Properties, Conduct Due Diligence- Negotiate Acquisition- Close on Single Family Properties- Complete Renovations- Market Properties- Convey Properties- HUD/BCC Reporting
Efficiently Expend $28 million
18
Mon
thsNSP Critical Path
Presentation Outline
• Background
• Initial NSP Implementation Strategy
• Revised NSP Implementation Strategy
• Action Requested
Action Requested
Adoption of a Resolution authorizing the Mayor or his designee
to acquire and convey title of real properties within the
Neighborhood Stabilization Program on behalf of Orange
County.