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Getting CDBG Back on Track

Getting CDBG Back on Track. Approved by CAC at June 10 th , 2004 – Meeting Submitted to City Commission – July 12, 2004. Staying on Track….

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Getting CDBG Back on Track

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  1. Getting CDBG Back on Track Approved by CAC at June 10th, 2004 – Meeting Submitted to City Commission – July 12, 2004

  2. Staying on Track… The open CDBG’s have the potential to get back on-track in short order! By utilizing the following ideas, the grants will stay within their initial scope of work, and can be expended very quickly allowing for future grant application and funding from ODOC. The lots that would be cleared upon completion of this project, would be available for future ventures. How better to start 2005, but with a clean program and funding slate!

  3. Proposal - Summary • Maintain the Acquisition/Rehab/Resell scope of work for Yr 5 and Yr 6 • Utilize houses being donated by OSU and the City’s rental property houses between Duncan & Duck, move them to City’s vacant lots in the target area, rehab them and resell thru the sealed bid process for owner-occupancy to low-moderate income persons, 3 houses under Year 5 & 3 more under Year 6 (see page 5 & 11) • Resell the homes at a level that would maintain affordability for the low-moderate income levels of those purchasing the homes (i.e. avg. cost of HBA homes-see page 9) • Proceeds from sale of houses would be used to address the rehab of the remaining 6 houses (see page 10/Phase II) and unfunded Yr 7 CDBG activities(which includes Splash Park-see page 4) • Amount for Yr 5 would have to be adjusted to account for overage in HBA (see pg 7) • Year 6 add in a “reasonable” admin. amount (6-9% of matching as stated from ODOC/)(see page 8)

  4. Yr. 7 – Unfunded CDBG DETAILED LINE ITEM BUDGET FY 2003 Application CDBG Small Cities Set-Aside City of Stillwater, Oklahoma

  5. Partners for a better Stillwater... & OSU has given the City the first opportunity to snatch-up the houses in the following slides. Mr. Chuck Fleischer with OSU stated they would normally bid the homes out to be purchased and moved. The lease properties on Connell, Scott, Monroe & University Circle, if not already vacant, will be within the next 60 days to a year. Continuing to build this strong partnership, OSU would donate the homes to the City!!!!! The City would then only have the cost of moving & rehab, thus assisting more Citizens of Stillwater and putting the much needed nice affordable owner occupied homes in the CDBG Target Area.

  6. Phase I: 10462CDBG02 & 10669CDBG02 – Budget Status as of 5/31/04

  7. Phase I: 10462 CDBG 02Year 5 FundingProposed Amended Budget Approximate revenues from sell of houses: $180,000 (3 x $60,000ea.) Shall be used for CDBG allowable activities

  8. Phase I: 10669 CDBG 03Year 6 FundingProposed Amended Budget Approximate revenues from sell of houses: $180,000 (3 x $60,000ea.) Shall be used for CDBG allowable activities

  9. HBA Program: Stats

  10. Phase II: CDBG Program Income Sources of Income: • $360,000 Proceeds from sell of homes(6 @ $60K CDBG Yr 5 & 6) • $10,000 HBA 2nd Mtg Rel Repayments • $135,130 Yr 7(unfunded) Matching fr/City • $120,000 Proceeds from sell of remaining 6 homes (6 @ $60K, less expenses 6@$40k) $625,130 Balance of funds/program income Balance of funds/Program Income to be used for CDBG’s Yr 7 unfunded Activities

  11. Meeting our Goals … • By utilizing the 5 homes being donated by OSU and the possible 7 homes the City leases, the initial 4 persons(2 each in CDBG Yrs 5 & 6) that would have received assistance have been tripled, which meets the goal set by the City Commission to assist more persons with the CDBG’s rehab program • Would put more owner occupied homes in the CDBG Target Area • Decrease/eliminate maintenance costs on the multiple vacant lots • Utilizing proceeds from the selling houses for the slated Yr 7 (unfunded) activities, would keep the 3 Yr CDBG Plan on schedule • The City would be back on track to apply for the next round of CDBG funds.

  12. Map of City Owned houses… All of these are City owned “rental” properties

  13. Clearing the way…… Only the homes with sound structures would be moved to the City’s vacant lots off of 10th & Washington St. and 12th & Jefferson, rehabbed and sold. This would assist in creating much needed owner occupied homes in the CDBG target area. These are some of the City’s rental properties located between Duncan & Duck off of 10th St.

  14. For Progress to happen… there must be “CHANGE” Picture to the left is of a home that has been gutted-out and is vacant. The picture below is of a small rental property that needs to be demolished.

  15. More of the City’s Lots… Although, not the City’s intention, but the rental properties within this block have become the deteriorating eye sore that most of its programs are trying to eliminate

  16. Lots continued…… The building to the left is being leased to a small church, the building is in poor shape. To the right of this is the Multi-Arts Center. The picture to the right is where a garage/shed once stood. Now it has become a magnet for the local neighborhood children to clutter with bicycle parts, etc., and for the shade-tree mechanic to repair their inoperable vehicles.

  17. Map of homes owned by OSU OSU owned- houses of interest on Connell: 917, 1001, 1017, & 1021

  18. Ours for the taking… Houses OSU owns on W. Connell St.

  19. Houses to turn into…HOMES! More houses on Connell St.

  20. Map of OSU house-19 University Cir.

  21. Oh…the potential! 19 University Circle-owned by OSU

  22. City’s Vacant Lots

  23. Vacant Lots, Get New Life! These vacant City lots are on Jefferson Street By putting homes on these vacant lots, and selling them, the City would no longer have to maintain all of these sites!

  24. Vacant Lot to Good Home! City’s vacant lots on 10th Street

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