2016 annual report - usf florida institute of...

2016 Annual Report

Certificate in Community Real Estate Development at the University of South Florida

The Community Real Estate Development Program at USF is successful thanks to the continued support of our friends and partners including the Steering Committee,

Alumni and funders. Thank you for all you do.

CRED TAMPA BAY 2016 | 3

About the Florida Institute of GovernmentWe realize and implement big ideas for the public sector.

We transform initiatives into credible action plans using research, public opinion surveys,

specialized training and services to strengthen governments, agencies and nonprofits.

This includes training and technical assistance to code enforcement officers, city clerks,

elected and appointed local and state governmental officials, volunteers and the general

public. We partner with university professionals with organizational leaders charged with

solving specific local issues to identify, evaluate and implement effective solutions.

The Florida Institute of Government (FIOG) was established by the Legislature in 1981 as

part of a consortium of universities that share a statewide mission:

“to increase the effectiveness and quality of government in Florida through applied

research, training, and technical assistance programs and public service.”

The institute was named in honor of John Scott Dailey, its founding executive director.

At the University of South Florida, we are housed within the College of Arts and Sciences

as a cohort of the School of Public Affairs.

The John Scott DaileyFlorida Instituteof Government

College of Arts and Sciences

University of South Florida

4202 East Fowler Ave, SOC107Tampa, Florida 33620Ph: (813) 974-8423Fax: (813) 974-2819fiog.usf.eduDirector, Angela Crist

Angela Crist Director

Becky ClaytonTraining and

Support Specialist

4 | CRED TAMPA BAY 2016

ABOUT THE PROGRAM

Course SummaryThe Certificate in Real Estate Development (CRED) program at

USF offers practical training for local community professionals to

grow catalytic leadership to revitalize underserved communities.

The three module program focuses on professional development

for the local community development industry and works to

create partnerships to develop and sustain viable communities.

The program provides the tools needed to carry out successful

community based real estate development projects through

over 60 hours of classroom training, guest speakers, classroom

exercises, homework and group projects. Participants who

complete the course receive certificates of completion from USF

Continuing Education and the Florida Institute of Government,

and become CRED alumni.

PurposeThe goal of the Community Real Estate Development program

is to create effective leadership in community development for

long term benefits to the community. The purpose of CRED is

to provide professionals with opportunities to problem-solve

local market issues while providing exposure to local, seasoned

practitioners at an affordable cost with support from a steering

committee of dedicated professionals which connect the

program to the market.

Community BenefitThe CRED program targets nonprofit, government organizations

and other community development professionals to expand

the capacity of these organizations. By expanding the number

of skilled professionals who are uniquely qualified to formulate

and package dynamic real estate and economic development

projects in low income neighborhoods and communities, we can

stimulate economic development and create new partnerships

for viable community development projects.

Desired participant outcomes• Develop a personal perspective concerning community real

estate development

• Learn basic skills in real estate analysis

• Understand the language of real estate development,

underwriting & investment

• Identify a project and determine

preliminary feasibility

• Articulate a deal and package it for presentation

to partners

• Understand Tampa Bay Market DNA

• Gain exposure to local market opportunities

and possibilities

• Understand the community real estate

development process

• Gain skills for managing development including

partnerships, legal issues, project management, financial

statements, negotiating and presentation skills


The overall program outcome is to produce a well-trained

workforce that can use the skills acquired to have a

real-world impact in their local community.


INSTRUCTORS

Anthony JonesBright Community Trust

Anthony Jones is the CEO of Bright Community Trust, which aims to create healthy and sustainable neighborhoods so that hardworking families can achieve security and stability. He leads a team of nine responsible for housing finance and neighborhood redevelopment; developing plans, projects and programs; monitoring compliance; and intergovernmental coordination.

Anthony worked for Pinellas County Government, as Director for the Community Development Department and the Housing Finance Authority of Pinellas County. He was responsible for the planning, operations, management and evaluation of housing finance and community development programs.

John TalmageCommunity Development Professional

John Talmage was the President and CEO of Social Compact, a Washington, D.C.-based nonprofit focused on breaking down barriers to private investment in inner-city neighborhoods.

As the Executive Assistant for the City of New Orleans’ Mayor’s Office of Economic Development, John monitored the restructuring of the HUD 108 program, was the ombudsman for new real estate developments, oversaw the redevelopment of the Orleans/Jefferson Renewal Community, restructured the City’s Economic Development Fund to support redeveloping the city’s small business delivery systems and helped restructure the City’s Disadvantage Business Enterprise program.


Sylvia Alvarez Executive Director, Housing and Education

Alliance, CRED Steering

Committee Member

Phil Bacon President/CEO, Urban Philanthropies

Derrick BlueExecutive Director, Coastal Bay Properties;

Director of Energy Services, Tampa

Hillsborough Action Plan; CRED Tampa

Bay Alumnus

Reuben Boone Valley National Bank

Frank BowmanHousing Development Manager, Dept. of

Community Development, Pinellas County;

CRED Tampa Bay Alumnus

Frank CornierDirector of Real Estate Development, CDC

of Tampa, Inc.; CRED Tampa Bay Alumnus

Chloe ConeyDistrict Director for U.S. Representative

Kathy Castor; Founder, CDC of Tampa

Ryan DhookaranCredit Analyst, Neighborhood Lending

Partners; CRED Tampa Bay Alumnus

Trent Green Associate Professor, School of Architecture

and Community Design, College of the Arts,

USF; CRED Steering Committee Member

Janet HamerVice President, Community Development

Manager, North & Central Florida, TD Bank

David HollisGrants Administrator, Tampa Housing

Authority; CRED Tampa Bay Alumnus

Ed JohnsonUrban Development Manager, East Tampa

Economic and Urban Development, City

of Tampa; CRED Tampa Bay Alumnus and

Steering Committee Member

Reverend Dr. Samuel Kirkland Founder/President, Shepherds Care

Ministries SCBC; CRED Tampa Bay

Alumnus

Leroy MooreSr. Vice President/Chief Operating Officer;

Tampa Housing Authority; CRED

Steering Committee

Lisa ReevesCommercial/Residential Real Estate at

Engel & Völkers; CRED Tampa

Bay Alumnus

Cindy RossCommunity Development Loan Officer,

Florida Community Loan Fund

David SobushCEcD, Director of Research, Tampa

Bay Partnership

Dr. Elizabeth StromAssociate Professor, School of Public

Affairs, Urban and Regional Planning

Lanie WassermanSr. VP Senior Lender, Neighborhood

Lending Partners

Vicki WhiteHousing & Community Development

Manager, City of Bradenton; CRED Tampa

Bay Alumnus

Cherise WilksGrants Specialists, City of Tampa; CRED

Tampa Bay Alumnus

LUNCH AND LEARN

Ernest BarfieldExecutive Director, Plant City CDC; CRED Tampa Bay Alumnus

Frank BowmanHousing Development Manager, Dept. of

Community Development, Pinellas County;


Robyn DonaldsonRenew Property Solutions, LLC; CRED

Tampa Bay Alumnus

Samantha Fenger Councilwoman, City of Largo; CRED Tampa

Bay Alumnus

Desmond KeyCRED Tampa Bay Alumnus

Vanessa McClearyHousing and Community Development

Manager, City of Tampa; CRED Tampa

Bay Alumnus

Racquel Reddie Community Development Manager, East

Region, National Community Stabilization

Trust; CRED Tampa Bay Alumnus

Frank Wells Chief Executive, World Power & Water LLC;

Founder, Venture House; CRED Tampa

Bay Alumnus

SPEAKERS AND FACULTY

Tom ShellyBroker, Owner, Realtor, Sunshine

Commercial Brokerage, LLC; CRED

Tampa Bay Alumnus

Roxanne Amoroso Principal, Mosaic Development; Senior

Vice President, Incore Residential; CRED

Steering Committee Member


TAMPA BAY 2016 GRADUATES

Gerald Abdul-Wasi VolunteerGerald is a volunteer for a non-profit organization in Plant City and is retired as an administrator and

security professional most recently with the Florida Department of Corrections. He was a Correctional

Regional Director and Inspector General and Warden and has held other Administrative positions in the

Florida Department of Corrections across the state of Florida. Gerald has a Masters in Criminal Justice from

Rollins College and a B.A. in Criminal Justice from the University of South Florida.

Sylvia Borden Tampa Bay CDCSylvia has 18 years of sales experience in varying industries and is currently the Home Ownership Center

Manager for the Tampa Bay CDC in Clearwater. Previously she was a DAP Project Specialist /Marketing and

Business Development Specialist for Equity Trader in Tampa. Sylvia develops new business and community

growth opportunities for the CDC. B.S.F&R Economics from the University of Florida.

Amanda Conte City of Pinellas ParkAmanda has a business degree with an emphasis in marketing from the University of Wisconsin-La Crosse.

Her background is primarily in aviation management and training, advertising agencies and now with the

City of Pinellas Park. She has enjoyed all of the relationships made in networking through the various groups

and Business Networking International, where she was a Director. Amanda has a B.S. in Business with an

emphasis in Marketing.

Michael Binafegha Century21 Shaw Realty GroupMichael is currently with Century21 Shaw Realty Group as a Licensed Realtor/Sales Associate specializing

in Buyers Brokerage and Sellers Brokerage. Previously he was with Kings Corporate Enterprises as a

transactional engineer/coordinator. Michael is also a founding member and director of Eagles Wings

International Children’s Foundation Inc., a Non-Profit Organization. He has an A.A. Degree from Hillsborough

Community College and attended Strayer University for Business/Acquisition Contract Management.

Marcella Faucette Pinellas County PlanningMarcella is a Program Planner for the Pinellas County Planning Department, mostly focused on projects in

the Lealman Community Redevelopment Area. She has also worked in the Long Range Planning Section

and Local Planning Agency processing and support for the county, providing direct support to the division

administrator on annexation related assignments which requires maintaining expertise with the state

regulations governing annexation.

Kayon Henderson City of Tampa Kayon is a Community Development Specialist II with the City of Tampa where she oversees both federal

and state grants. She started her career in housing at Boley Centers as a Housing Specialist for several

voucher programs. Her certifications include Certified Occupation Specialist, Housing Quality Standards and

Uniform Physical Conditions Standard. She graduated from the University of South Florida with her B.A. in

Interpersonal and Organizational Communication.


Roderick Henderson Bealsville Community Outreach MovementRoderick is the owner and founder of Uggh Inc. in Plant City. Roderick formed the Business Incubator

Project with the Improvement League of Plant City. He is also involved with the Bealsville Community

Outreach Movement and tutors at Plant City High School and HCC. He enjoys doing freelance digital art in

his spare time. Roderick has an A.A. from Hillsborough Community college in Pre-Pharmacy and a B.S. from

the University of South Florida in Biomedical Science with a minor in Business Economics.

Clive Kofi-Hunt Movement BuilderKofi is a political and social activist who is currently is the Political Director for Fight for $15 Florida and the

Project Coordinator for Awake Pinellas and focuses his efforts in leadership development and cultivates

skills in mass communication and public administration. Kofi has also been the West Central Florida Field

Director for the Florida AFL-CIO and a Community Organizer for SEIU Florida and Organizing for Action

Florida. Kofi has an A.S. degree in Computer Animation from Full Sail University.

Joel Ilesanmi Prestige Investment PropertiesJoel was born in Nigeria, West Africa and attended Obofemi Awolowo University to study Demographics

and Social Statistics. He moved to the United States in 1990 and studied Pharmacology before opening

Jibac Gallery and Crafts in Clearwater. He also owns Sanmi Auto Express and is the President and Owner of

Prestige Investment Properties. He is a member of Tampa Bay Christian Business Association.

Cheryl Howell Community Services, Lake CountyCheryl is the Housing and Community Development Manager for the Community Services Department of

Lake County. She oversees the administration of Lake County’s SHIP and Housing and Urban Development

funding. She previously worked for Marion County Community Services and Brevard County Housing

and Human Services Department to administer their CDBG funds. She received a B.A. Degree in Public

Administration with a minor in Urban Planning from the University of Central Florida.

Cheryl Joseph Tampa Housing AuthorityCheryl is a Service Coordinator for the Tampa Housing Authority where she establishes and maintains

relationships with other agencies and organizations in the community, and connect these groups with

individuals served by THA. Real estate has always been of interest to Cheryl, and is taking online real estate

classes to become a real estate sales associate. She is originally from St. Croix, Virgin Islands and relocated

to Tampa to attend the University of Tampa, where she received a B.A. in Psychology.

Nigel Joseph USF Graduate Student, Enivornmental Science and PolicyNigel is an Assistant Project Manager with Jeffery Scott Architects, specializing in Commercial Architecture.

He has previously worked for Gritton & Associates Architects as project principal and project manager for

commercial and residential projects. He is a Ph. D. student in Enivornmental Science and Policy at USF. He

also holds a M.Arch. from Lawrence Technical University College and a B.Des.Arch. from the University of

Florida.


TAMPA BAY 2015 GRADUATES

Mara Latorre USF Graduate Student, Urban and Regional PlanningMara’s first exposure to affordable housing was through the University Area Community Development

Corporation (UACDC) where she, through Prodigy Cultural Arts, connect parents and community members

to affordable housing programming. She is the facilitator of an organic community-based space which helps

to connect people through collaborative arts projects. She received a B.A. in Sociology, and is pursuing her

Master’s in Urban and Regional Planning, at the University of South Florida.

Geraldine “Geri” Campos Lopez City of ClearwaterGeri is the Director of Economic Development and Housing for the City of Clearwater and has been a

Certified Economic Developer for over 20 years. She is responsible for improving/expanding the city’s

economic base through development efforts, including incentives for the Clearwater CRA as well as

economic development and affordable housing programs. She received a B.A. in Architecture from Yale

University and her Master’s degree in City Planning from the Massachusetts Institute of Technology.

Katina McClinton Fresh Start DevelopmentKatina is the owner of Fresh Start Development, Inc. She is a licensed General Contractor and is responsible

for providing all of the material, labor, and services necessary for the construction of a project. Katina

graduated from Hillsborough Community College with an A.A. degree and also has her Mortgage Broker

license. She has bought, rehabilitated and sold over 100 houses in the last 10 years. She is LEED, SBE,

and W/MBE certified with Hillsborough County School Board, City of Tampa, and Florida Minority Supplier

Bomin Koh USF Graduate Student, School of Geosciences Bomin Koh is a University of South Florida student working towards her Ph.D. in Environmental Science and

Policy in the School of Geoscience. She has a M.S. in Civil and Environmental Engineering from Seol National

University, Seoul, North Korea. She has been a researcher with several organizations including; The Seoul

Institute, The Engineering Research Institute, The Urban Planner Laboratory in Seoul, Korea.

Belix Parks City of TampaBelix is the Housing Counseling Coordinator for the City of Tampa’s Housing & Community Development

Division, where she supervises the Mortgage Assistance Program, Homeownership and the Foreclosure

Prevention Counseling Program. She has a strong commitment to helping clients achieve financial stability

and future ownership. She is also a member of the Hispanic Professional Women Association. Belix obtained

her B.S. and M.S. from Springfield College in Organization Management and Leadership.

Pedro Parra Hillsborough County Planning CommissionPedro Parra is a Principal Planner at the Hillsborough County City-County Planning Commision working on

the Strategic Planning Initative team. He works as a community planner and project manager analyzing,

monitoring and amending Hillsborugh County’s Comprehensive Plan. He has managed the development

and adoption of six community plans in Hillsborough County. Currently, he develops and assists with special

projects within the agency. He earned his B.A. from the University of Nebraska at Lincoln.


Heather Rayford Tampa Housing AuthorityHeather is a Housing Counselor with the Tampa Housing Authority (THA), where she works with previously

homeless veterans and serves as a liaison between the THA and the Department of Veteran Affairs. She

has previously served as a Public Housing Specialist at the Coca Housing Authority and in New York at the

Newburgh Housing Authority. She also volunteers as a basketball coach at the Boys & Girls Club. Heather

received her B.A. in Psychology from The State University of New York College at Old Westbury.

Kristine Socall Gifted Dreamers Development, IncKristine is the Executive Director and Founder of Gifted Dreamers Development, Inc, a community and

economic development nonprofit organization. Kristine also provides residential real estate expertise as a

real estate agent under Charles Rutenburg Realty. She earned an MBA International Economic Development

from Eastern University, and will receive a Certificate in Counseling from Seattle School of Psychology in

April 2016. Her Bachelor’s of Science is in Organizational Relations.

Tina Swain Habitat for Humanity of Hillsborough County (HFHHC)Tina has worked to lead the strategic growth planning at HFHHC as a board member, Finance Director and

most recently, as Executive Director. A CPA by training, Tina has served as CFO of GulfShore Bank, CFO

and Vice President of Pilot Bank, Auditor with Andersen and Due Diligence Specialist with Carter Validus

Advisors. She maintains a passion for improving her community as well as contributing to the realization and

growth of the HFHHC’s culture. She received her B.A. in Accounting from the University of South Florida.

Shawnda Roberts Florida National GuardShawnda joined the military in 2004 as a Supply Specialistand part-time soldier (National Guard), and now

serves as a full-time Guardsmen (Active Guard) as a Recruiter. She will use CRED to support her volunteer

efforts with the National Association Black Women in Construction, where she currently is working on

a project to address the needs of homeless veterans in the community. Shawnda received her B.S. in

Criminology from Florida State University and her MPA from Valdosta State University.

Carolyn Michelle Wagner USF Graduate Student, School of Public AffairsMichelle is pursuing opportunities to contribute to community building and development projects in the

Tampa Bay region. Michelle combines progressive education with 20+ years of extensive work experience

in both the private and public sectors to identify and solve problems and produce desirable outcomes.

She earned a B.A. in International Studies/Political Science from the University of South Florida and is now

completing the Graduate Certificate in Community Development within USF’s School of Public Affairs.

Tom Wodrich Polk County Growth Management DepartmentTom is currently a Principal Planner with the Office of Planning and Development in Polk County, he is the

project manager for large scale, multi-jurisdictional projects including Developments of Regional Impact

(DRIs). Tom is a certified planner through the American Institute of Certified Planners (AICP) and stays

active with the local chapter of the American Planning Association. He earned a Bachelor of Urban Planning

from the University of Cincinnati and an MPA at Troy University.


CULMINATIONGroup Projects and the Culmination Event

Each CRED class ends with a culmination event where each

student demonstrates what they have learned using real-life case

studies. This process is integral to the success of the program by

providing a platform upon which participants’ achievements in

the course can be measured. The Culmination Event also gives

participants experience in pitching a possible development

project based on their own creativity and analysis of feasibility

and funding.

Members of the 2016 class developed project concept papers

based on an identified problem or opportunity, and presented

their concepts to the class at the beginning of the course.

Class members voted to determine which of the concepts best

represented their areas of interest, areas of learning, and market-

relevance, then divided into teams around the selected projects.

The five projects chosen this year encompass a range of issues

in the Tampa Bay region. Project teams developed their project

including parameters set by the instructor. As the Culmination

Event approached, participants finalized their presentations

making sure all parameters were met. Presentations were

reviewed by a select group of community development

practitioners, including members of the CRED Steering

Committee, at the Culmination Event. Each group was asked

follow-up questions and given beneficial feedback by the panel.

Projects were reviewed based on their relevance to today’s

market, quality of presentation, quality of substantive information

and the ability to address and deal with questions.

This year’s judges were;

• Philippe Beau, PhD, President, B.E.A.U. Institute, Asset

Management, Acquisitions and Development Director, Klein

and Heuchan, American Land Planning & Management

• Samantha Fenger, Commissioner, City of Largo

• Trent Green, Associate Professor of Architecture and Urban

Design, USF School of Architecture

• Ed Johnson, Urban Development Manager, East Tampa

Economic and Urban Development Department,

City of Tampa

• Rev. Dr. Samuel Kirkland, President, Shepherds Care

Ministries, Inc., Retired

• Leroy Moore, Senior Vice-President/Chief Operating Officer,

Tampa Housing Authority

• Joe Goldstein, Senior Vice President/Chief Credit Officer,

Neighborhood Lending Partners

The projects presented by this year’s class are detailed in the

following pages.


INCREDIBLE SULPHUR SPRINGSTina Swain, Heather Rayford, Michelle Wagner, Katina McClinton & Cheryl Howell

Development ConceptDilapidated, uninhabitable dwellings will be replaced with new, energy-efficient,

single-family homes on scattered lots within Sulphur Springs. Community members will

see increases in overall property values, more engaged neighbors and beautification.

The City of Tampa will realize the goal of increased homeownership in the area and see

increases in economic and civic participation by new long-term neighborhood residents.

Development Scheme and Site PlanTwenty single-family homes will be constructed upon scattered lots zoned (RSF low-

density, detached) within Sulphur Springs. The ENERGY STAR certified new homes will

be approximately 1,390 sq. ft. Homeowners may choose between a furnished home or a

credit at Habitat ReStore. Surrounding properties will be assessed for beautification.

Financial FeasibilityThe total development budget of $2.8 million includes acquisition, site improvements,

construction, professional fees, contingency and developer fees with initial funding

from equity and a Neighborhood Lending Partners line of credit. Phase I of the project

includes six homes built in six months with those remaining within 24 months. Homes will

sell for $95,000 with $1.9 million in projected net revenue. Habitat will act as lender with

loans sold to their banking partner at a 15% discount. In addition, Habitat has secured

six Community Contribution Tax Credit Program (CCTCP) donors that will generate

an additional $255,000 in cash. Loan sales, CCTCP donations and the City of Tampa

reimbursement of $1,000,000 results in the needed cash flow and a $67,000 profit.

CollaborationsNeighborhood Lending Partners will provide a line of credit for construction. Habitat will

work in coordination with governmental, non-profit and private partners collaborating

under the Sulphur Springs Neighborhood of Promise umbrella. Potential partners include

Tampa Innovation Alliance members, Johnson Controls, Yuengling and Pepsi Co.

Threats and ChallengesThe volatility of Tampa’s real estate market will be a threat to the project. The presence

and perception of criminal activity in Sulphur Springs is a significant challenge, and close

collaboration with the Tampa Police Dept. will be necessary. Neighborhood marketing

campaigns and partnership opportunities will counter negative media coverage.

MarketIn response to a City of Tampa RFP, this

project will fulfill their goal to increase

homeownership to coincide with the

Sulphur Springs Neighborhood of

Promise Initiative. Of the 2,585 housing

units, approximately a third are owner-

occupied and nearly a quarter vacant.

The annual median income is $28,000.

The location is within seven miles of

downtown Tampa, USF and five of

Hillsborough County’s major employers.

Community ImpactHomeowners and community

frameworks will contribute to the

neighborhood’s revitalization. New turn-

key, energy-efficient homes surrounded

by homes improved through the Habitat

“A Brush With Kindness” program, will

improve neighborhood values. As long-

term homeowners populate community

initiatives such as the Health & Nutrition

and Economic Stability Work Groups,

neighborhood stabilization will improve.

ManagementHabitat for Humanity of Hillsborough

County will oversee the project

management from homeowner

recruitment through single family home

sale. The InCREDible Sulphur Springs

partnership will manage homeowner

integration into Sulphur Springs

Neighborhood of Promise.


LAURA ESTATESPedro Parra, Roderick Henderson, Kayon Henderson, Cheryl Joseph & Nigel Joseph

Development ConceptThe project team is representing the Community Development Corporation of Plant City

in seeking a partnership with the City of Plant City to acquire 10 of a possible 30+ vacant

city owned infill residential lots in the historic Lincoln Park neighborhood outside of the

downtown business district for phased development of affordable single family homes.

The development will include ten newly constructed affordable single family homes

completed in three separate phases within one year.

Financial FeasibilityTotal development costs of $1,405,000 include cost of construction, developer

fee, acquisition of properties, and contingency fees. Funding will be provided via a

continuing partnership between the Plant City CDC and the local lending partner

Suncoast Credit Union, Plant City CDC, CRA, and also Hillsborough County HOME and

SHIP funds. Total development equity stands at $1,405,000. The new homes can be sold

starting at $110,000.

CollaborationsPartners for the Laura Estates Development includes but is not limited to: The residents

of Lincoln Park, City of Plant City, Plant City CDC, CDC of Tampa, Suncoast Credit Union,

Sheriff’s Department, Financial institutions, Neighborhoods of Promise, CDC of Tampa,

Local churches, and Solita’s House.

Threats and ChallengesThreats that could delay this development would include lack of financials, loss or

reduced commitment from partners. In addition, neighborhood opposition, low sales, and

construction delays are all threats and challenges that we have taken into consideration

and budgeted for.

MarketLincoln Park suffers from both a high

number of vacancies and investor-owned

properties. As a result, it is becoming

extremely difficult for an area native to

purchase a home due to competition

with cash sales by investors. The average

household income is $32,000. The project

will be restricted to individuals who earn

no more than 120% of the area median

income based on family size.

Community ImpactThe Laura Estates project will help to

promote home ownership in the area

offering residents’ homeownership

classes (pre and post), down payment

assistance, and community based support.

The development will also regenerate

affordable housing opportunities and help

boost economic development in a historic

neighborhood which is adjacent to the

Plant City central business district. Lastly

the project will help raise property values,

while promoting home ownership to low

income families.

ManagementThis project will be developed by Plant

City CDC and CDC of Tampa. Home

owners manage their properties and

maintain a safe and healthy home.


MARION OAKSKristine Socall, Belix Parks, Tom Wodrich, & Geri Campos Lopez

Development ConceptA five-acre shopping center will be developed in rural Marion

County, FL to provide additional grocery options for the growing

Latino community and help incubate small foot print retail under

local ownership.

Development Scheme and Site PlanThe site, a five-acre parcel along SR-484, is part of a 900-acre

former farm and sand quarry. The site would be architecturally

distinctive while integrating a community gathering space,

designed to support a 75,000 sq. ft. retail complex with six 2,500

sq. ft. store fronts anchored by a 20,000 sq. ft. grocery mart.

Financial FeasibilityAfter exploring all financing options, it is the opinion of our

analytics group that this project is not feasible under current

market conditions. Marion County and the State of Florida offer

grant and loan programs that target economic development

projects throughout Marion County. While programs such as the

Florida Small Cities Community Development Block Grant, the

Community Enrichment Foundation and the Marion Chamber of

Economic Partnership provide funding for development programs

such as the one being proposed, Marion County would not

support recommending resources for this site. There is a general

feeling from the County and other agencies that were consulted,

that until additional residential development occurs, commercial

development at or near this parcel is not a priority. In addition,

the project includes a development budget of $3,974,294 and

an operating budget of $2,000,000. This would require a rent

subsidy for all tenants of $7 sq. ft. rending this project financial

unfeasible.

CollaborationsWhile the primary collaboration would be with the Bethesda

Worship Center, their congregation and network alone cannot

provide a potential customer base.

Threats and ChallengesThe project is mostly defined by threats and challenges. The site is

adjacent to a working sand quarry and located in the middle of an

extensive agricultural tract. There is not sufficient vehicular traffic,

to support spontaneous retail and the residential development

in the area is not built out and there are no new residential

developments proposed.

MarketAs mentioned above, there is insufficient market demand to

support a commercial development at this site at this time.

Kristine Socall, Geri Campos Lopez, Tom Wodrich, & Belix Parks


PATH TO AFFORDABILITY: AN INFILL HOUSING STRATEGY FOR EAST TAMPA

Kristine Socall, Geri Campos Lopez, Tom Wodrich, & Belix Parks

Development ConceptThe Path to Affordability program is a comprehensive approach to sustainable

affordable home ownership. It coordinates new home construction for pre-approved

recipients of down payment assistance funds on city-owned vacant lots. Beginning

in East Tampa, ten new homes will be constructed for low- to moderate-income

buyers with long-term affordability in mind. Infrastructure improvements and overall

beautification will help stabilize and enhance the entire neighborhood.

Development Scheme and Site PlanSituated in the East Tampa Overlay District, ten RM-16 City-owned lots slated for new

construction are scattered throughout the neighborhood on parcels formerly developed

with single-family detached homes. In these lots, 1,200 square foot, two and three

bedroom, two bathroom homes with one car garages will be constructed. Dynamic,

energy-efficient and innovative home design will ensure long-term affordability.

Financial FeasibilityThe project will cost $1,615,000 with project equity in the amount of $323,000 from land

donations, development subsidies and a CRA grant. The City of Tampa currently owns

the ten lots with an estimated value at $50,000 that will be developed using the Path to

Affordability program and a SHIP Construction Loan with 0% interest for no more than

24 months utilizing a revolving loan fund. The project will require a $14,500/lot subsidy.

CollaborationsPotential Collaborators include: The University of South Florida School of Architecture,

East Tampa Community Redevelopment Agency, East Tampa Neighborhood

Associations, CDC of Tampa, East Tampa Revitalization Partnership, City of Tampa Dept.

of Housing, and the City of Tampa Dept. of Planning and Development.

Threats and ChallengesCity staff will conduct surveys and door-to-door visitations, and work with neighborhood

associations to ensure a smooth process for buyers and existing residents. City staff

will monitor the quality of construction and on-time performance of builders to ensure

that cost overruns are avoided. With an anticipated average gap of $14,500 per home,

managing construction costs will be critical to successful implementation.

MarketThis project is located in the East Tampa

CRA where efforts are being made to

revitalize neighborhoods. The number one

need identified during the CRA community

needs assessment was affordable housing,

as 81 percent of households earn less

than $50,000 per year. Blight and decay

have impacted existing housing stock and

resulted in the demolition of hundreds

of homes, severely reducing the stock of

move-in ready affordable homes.

Community ImpactThe Path to Affordability program

implements the community revitalization

goals of the East Tampa CRA as well

as the mission of the City’s Housing

Department to assist eligible low and

moderate-income residents purchase

housing within the City of Tampa limits.

Assisting qualified buyers to purchase

new homes reduces the demand for the

City’s rental housing and encourages new

investment that will stabilize and enhance

the community overall.

ManagementThe City of Tampa Dept. of Housing will

manage the Path program, awarding

contracts to builders who can provide

home designs for qualifying home buyers

on available City lots throughout

the neighborhood.


UNIVERSITY ENRICHMENT TOWNCENTER Gerald Abdul-Wasi, Michael Binafegha, Kofi Hunt, Joell Ilesanmi & Bomin Koh

Development ConceptThe University Enrichment TownCenter will provide a

contemporary mixed-used development serving the University

of South Florida student housing market while offering the larger

community access to convenience grocery and other small foot

print retail.

Development Scheme and Site PlanThe University Enrichment TownCenter is located at 8612 N

40th St., a heaving trafficked thoroughfare two miles from the

University of South Florida campus. The area is currently zoned

for commercial use and has existing commercial uses on it. The

site is a 45,000 sq ft single lot that can be developed for three

stores,1,500 sq. ft. each, and one larger store that will be built at

2,000 sq. ft. The retail and the apartment units will be developed

over a covered parking lot to maximize the developed footprint.

CollaborationsUniversity Enrichment TownCenter Group is proud and pleased

to have TampaBayLending as part of the funding team. We

congratulate and welcome their commitment to our vision as we

press onto new experiences and horizons.

MarketThe University TownCenter Development team has analyzed the

market using two methodologies. With regards to the residential

development, we assessed the number of new rentals being built

in the area. Based on our demand assessment and the projected

growth of the student body at the University of South Florida,

we have concluded their remains significant unmet demand.

Further, we conducted a retail leakage analysis and determined

that while there are aggregated retail grocery sales in excess of

$108 millions, there are comparable expenditures exceeding $230

million. The net impact is retail grocery leakage in excess of $124

million.

Community ImpactWhile this is not considered a food dessert, there are a shortage

of fresh food option in the immediate vicinity of the property.

A well run market with co-located ancillary services, including

such retail categories as a coin operated laundry facility or a cell

phone developed alongside appropriate student oriented housing

will make this an idea site for the serious student who wants

to succeed academically, while enjoying an affordable urban

lifestyle.

ManagementUniversity Enrichment TownCenter Development group

is prepared to develop the property as well as to manage

the finished product. Team members have the necessary

development, construction and property management experience

to see this process through for the short and long term.


Congratulations, CRED Tampa Bay Class of 2016!

OUR SUPPORTERS

CRED TAMPA BAY STEERING COMMITTEE THANKS TO OUR SPONSORS

Sylvia AlvarezHousing and Education Alliance, CRED Alumnus

Roxanne AmorosoIncore Residential

Ernest Barefield Plant City CDC, CRED Tampa Bay Alumnus

Kathryn DriverHousing Finance Authority of Pinellas County

Jack GarrettHomeless Coalition, CRED Tampa Bay Alumnus

Trent GreenUSF School of Architecture and Community Design

Harry HedgesTampa Housing Partnerships

Ed JohnsonEast Tampa Community Redevelopment Area,


Leroy MooreTampa Housing Authority

Lisa ReevesRealtor, CRED Alumna

Debra ReyesNeighborhood Lending Partners

Tom ShellySand Development, LLC., CRED Tampa Bay Alumnus

Dr. Elizabeth StromUSF School of Public Affairs, Urban and Regional Planning

VISIT FIOG.USF.EDU/CREDFor more information, please contact:

Becky Clayton, Training Support Specialist

[email protected] | (813) 974-9627

With special thanks to the Greater Tampa Association of Realtors

2016 annual report - usf florida institute of...

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