Reinventing for the Long Haul

Mission

Dedicated to:

Making homes within the financial reach of Palm Beach County’s low to moderate-income working families

Improving economically distressed neighborhoods through a holistic and sustainable approach

History Founded in 1992 as Northwood Business Development

Corp. to foster job creation & small business development in the Northwood historic business district

Broadened our focus in 1998 to address the neighborhood’s need for affordable housing & was designated a West Palm Beach CHDO

Completed Palm Beach County’s 1st Comprehensive Model Block in 2001(Miracle on 34th St.) & became Northwood Renaissance

Expanded in 2006 to help revitalize distressed & underserved communities throughout Palm Beach County & became Neighborhood Renaissance

Core Principals

Community driven

Comprehensive & holistic approach to neighborhood revitalization

Guided by sound urban planning principals

Equitable solutions for redevelopment

Sustainable economic development

What is a Community Development Corporation (CDC)? Strategically redevelops areas that are

economically depressed

Provides for a wide range of activities that stimulate & improve their local economies

Develop projects that better their communities including affordable housing

Advocate for low-income populations

The Value of a CDC Positive outcomes for community residents including

connections to community resources

Focus at the neighborhood level

Quick implementation of new programs – flexible, entrepreneurial & transparent

Knowledge of neighborhood issues, trends & local players

Bridge between government & the private market

Ability to leverage resources & lesson the burden of local government

Dedication to the neighborhood’s long-term & sustainable recovery

Community’s Vision for Northwood Village

The Courtyard: mixed-use residential/commercial& our headquarters

Village Centre – mixed-use affordable housing & anchor redevelopment project

Northwood art & antique festivals

Streetscape improvementsto Northwood shoppingdistrict

and its Neighborhoods

Northwood CLTHome

Lease/Purchase & FamilySelf-Sufficiency Program

Model Block(Miracle on 34th

Street)

Neighborhood Revitalization Strategies Citizen planning for land-use & zoning changes

Business recruitment & development

Mixed-use redevelopment

Infill single-family housing development

First-time homebuyer assistance

Community Land Trust added as a preservation tool in our business model

Key Components for a Strong CDC

Committed & engaged board

Experienced professional staff

Strategic planning

Effective partnerships & collaboration

Good internal operating procedures

Annual meetings, membership development & advisory committees

The Perfect Storm

Village Centre project politically stalled

Economy tanked

Contraction of mortgage markets

Foreclosures

Deep funding cuts

Surviving vs. Reinventing for the Long Haul

Surviving

Staff lay-offs Cut expenses Restructure projects Seek new funding

such as NSP

Reinventing

Direct resources to better meet changing resident needs

Adopt new business models

Refocus existing staff core capacity

Develop new agency core capacity

Collaborate & partner

New Rules Neighborhood Stabilization

decrease the inventory & upgrade the quality of vacant, foreclosed properties in key target neighborhoods

plan now for neighborhood recovery & institute needed policy changes

continue to advance strategic & catalyst redevelopment projects

Affordable Housing Preservation – preserve & reclaim existing homes as affordable rental stock for low to very low-income households

Family Economic Self-Sufficiency – provide tenant counseling & case management to help lower debt, raise income & increase savings

Collaboration & Partnership – create long-term delivery systems

Current Strategies CLT lease/purchase program

Northwood, 5 single family homes leased with option to purchase by households earning less than 50% of the AMI. Includes family self-sufficiency component.

Financing Partners: Palm Beach County, Comerica, LISC

Neighborhood stabilization affordable rental program Purchase, rehab & rent vacant, foreclosed homes to

households earning less that 50% of the AMI in unincorporated West Palm Beach for a minimum of 20 years. Includes family self-sufficiency component.

Financing Partner: Palm Beach County NSP 1

Westgate/Belvedere CRA single family infill homeownership project New construction of 13 hurricane replacement homes to be

sold to 1st time buyers earning less than 80% AMI. Homes are priced to sell without buyer down payment assistance.

Financing Partners: Westgate CRA, Palm Beach County, Florida Community Loan Fund

For Additional Information Contact:

Terri Murray, Executive DirectorNeighborhood Renaissance, Inc.510 24th Street, Suite AWest Palm Beach, FL 33407561-832-6776 ext. 102tmurray@neighborhoodrenaissance.org