Orange County, Florida Neighborhood Stabilization Program (NSP) Orange County, Florida Neighborhood Stabilization Program (NSP) Housing and Community Development Division Neighborhood Stabilization Program (NSP) NSP Update Housing Trends Approval Process Staff Recommendations Neighborhood Stabilization Program (NSP) NSP Update Housing Trends Approval Process Staff Recommendations NSP UPDATE Orange County was allocated $27.9 million Board of County Commissioners approved the Countys NSP Plan on November 18, Expenditure deadline for NSP funding is September 3, 2010 NSP UPDATE Option A Houses acquired 105 Houses sold - 11 Option B Households assisted - 75 NSP UPDATE NSP Award NSP Funds Expended NSP Rental Activities Balance Remain Acquisition SFR$13,672,590$12,142,283$1,530,307 Rehabilitation SFR$1,709,534$1,089,716$619,818 Acquisition/Rehab of Rental Housing$7,000,000$0$7,000,000 Demolition$60,000$47,932$12,068 Redevelopment$0 Financing Homeownership Activities$2,610,830$2,160,830$450,000 Financing - Very Low Income$161,642$161,641$1 Administration$2,687,177 $0 Totals $27,901,773$18,289,579$7,000,000$2,612,194 Neighborhood Stabilization Program (NSP) NSP Update NSP Sales Activity Approval Process Staff Recommendations NSP Sales Activity Property Address Total Acquisition Contract Sales Price Loss (acquisition - contract) NSP Assistance Total NSP Foregone 850 Windrose Dr.$177,871$155,000-$22,871$30,689$53, Ruthie Dr.$95,071$78,000-$17,071$35,265$52, Ruthie Dr$98,276$81,000.-$17,276$33,918$51, Blue Sapphire Circle$155,704$138,500-$17,204$33,623$50, Connor Ave$136,000$115,000-$21,000$25,200$46, Meadow Pond Way$154,071$135,000-$19,071$26,100$45,171 Average$135,000$117,000-$18,000$31,000$49,000 Neighborhood Stabilization Program (NSP) NSP Update Housing Trends Approval Process Staff Recommendations NSP Approval Process Approved by the Affordable Housing Advisory Board Notified participating lenders and realtors 15 day public comment period Neighborhood Stabilization Program (NSP) NSP Update Housing Trends Approval Process Staff Recommendations Staff Recommendations Approval of the Amendments to the Neighborhood Stabilization Program. All Districts Questions & Answers Orange County, Florida Neighborhood Stabilization Program (NSP) Orange County, Florida Neighborhood Stabilization Program (NSP)