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Troy Community Works

Why Create A New Non-Profit for Troy? . Troy

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Troy Community Works

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    1. Troy Community Works! Why a CDC for Troy? What is a CDC? What Is Our Focus? How Can We Be Successful: Strategic Planning? Opening: MarthaOpening: Martha

    2. Why Create A New Non-Profit for Troy? Troy & Miami County: 40% Renter Occupied Housing Units Over 6% Vacant Housing Units 6.4% of Individuals & 8.2% of Families are living below the Federal Poverty Level 26% of Households make less than $25,000/year In 2007, the downtown “historic district” received over 100 citations for property maintenance 521 Foreclosed properties in 2006 compared to 81 in 1995 in Miami County Sources: City of Troy Comprehensive Plan, Troy Daily News (3/23/2007), and US Census. AllisonAllison

    3. Median Household Income in 1999: 2000 Troy city, Ohio by Block Group

    6. Why a Community Development Corporation for Troy? Symptoms of disinvestment: Property maintenance High rates of rental occupancy High concentrations of LMI households High rates of police calls Underutilized buildings (2nd & 3rd Floors) Aging housing stock Why Troy Community Works: A partner with existing organizations & npo’s A “grass roots” effort in an underserved market.   The area of focus would be: Downtown Building Rehab Education & Awareness Neighborhood Revitalization Strengthen Downtown Housing Stock

    7. What Is A CDC? Community Development Corporation (CDC) is a broad term referring to not-for-profit organizations incorporated to provide programs, offer services and engage in other activities that promote and support a community. CDCs usually serve a geographic location such as a neighborhood or a town. They often focus on serving lower-income residents or struggling neighborhoods. They can be involved in a variety of activities including economic development, education, and real estate development. These organizations are often associated with the development of affordable housing. From Wikipedia; accessed on November 5, 2007 MarthaMartha

    8. Representative Funding Sources Conventional lenders. State of Ohio. historic tax credit financing. HUD financing. Federal Home Loan Bank Board. NeighborWorksŽ America financing/ LISC HOME funds, CDBG funding, CHDO funding, County Corp, CityWide Development. Local governments & municipalities (financial and in-kind services)

    9. Why Consider A CDC? Governments are great facilitators, lousy developers. Service to families, entrepreneurs, and seniors. Community involvement, empowerment. Community improvement and stabilization. Maximize partnership opportunities. Access to tax credit and other non-conventional lending facilities. Unique leveraging opportunities.

    10. Impediments To Creating A CDC Resistance to change and diversity. Securing adequate capitalization. Site acquisition. Existing building and zoning regulations. Sufficient staffing. Supportive services and/or lack of partnerships.

    11. What Is Our Focus? 4 Pillars of Community Development Strengthening Downtown Housing Stock Downtown Building Rehabilitation Neighborhood Revitalization Grassroots Organizing & Education MikeMike

    12. Neighborhood Revitalization Remediation (Mold, Lead, Asbestos) Property Tax Abatement Neighborhood Stabilization Promote Home Ownership Historic Preservation MikeMike

    13. Downtown Building Rehab Adaptive Reuse Historic Preservation (Federal Tax Credits) Brownfield Redevelopment Promote 2nd & 3rd Floor Occupancy Cultivate Investment Relationships Mixed Use Opportunities MikeMike

    14. Strengthen Downtown Housing Stock Increase Home Ownership Reduce Foreclosures Increase Accountability for Rental Property Owners Reduce LMI Concentrations AllisonAllison

    15. Grassroots Organizing & Education Resource Advocate Historic Preservation Historic Tax Credits Sustainability Issues (Infill Housing, Walkability, Green Design) Neighborhood Planning Credit Counseling AllisonAllison

    16. Who Is Troy Community Works! Meeting Since March 2007 Incorporated 9/10/2007 Martha Harris Mike Twiss Allison DeHart New Website www.troycommunityworks.com Informational Brochure One-on-One Meetings YOU!

    17. Next Steps: Strategic Planning Strategic Planning Process 3 Meetings to create a community based vision. Guided by a Community Planner Held Feb. 4, 18 and Mar 10 Particular Skill Sets Needed: Builders, Realtors, Bankers, Architects, Appraisers, Attorneys, CPA’s, Developers, Investors & …… General Community Enthusiasts! Allison/BeckyAllison/Becky

    18. Creating A CDC: Wonderful Opportunity Every individual or family, regardless of income, deserves safe and affordable, high-quality housing. CDCs inform and empower the community. CDCs access sources of funds not available to the private sector. CDCs create new expertise in the community.

    19. Questions Troy Community Works www.troycommunityworks.com Contact: Martha Harris marthaharris@troycommunityworks.com MarthaMartha

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