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Posts Tagged ‘housing and urban developmen’

Residential Eyesores to be Renovated with Federal/Local Tax Dollars for Affordable Housing

August 22nd, 2014 Comments off

google-street-view-1111-cardova-lane-clearwater-fl-may-2014-posted-daily-business-news-mhpronews-com-_001Clearwater (FL) Housing Authority will begin repairs on two single family houses and a building that will be used for multi-family housing use, that should be ready next year for low-income households. Jacqueline Rivera, the housing authority’s CEO, and Deborah Woodard, chairwoman of the housing authority board, said clean up of a neglected 13-unit apartment building, known as Paradise Trail, is under way.

It’s a quaint neighborhood that has some nice homes,” Rivera said, “But the property looks like garbage, really,” the ClearwaterGazette told MHProNews.

$575,000 was the purchase price in July 2013 for the 10,960 square foot two story building at 1111 Cardova Lane in Clearwater, FL. The Google street view photo above was from May 2014.

Once finished, Rivera says that rental property will feature nine one-bedroom and four two-bedroom units.

The Gazette states that the housing authority plans to renovate two troubled public housing properties, both single-family homes purchased in 2008. The property at 1537 Palmetto St. cost $210,000, while the residence at 1541 Palmetto St. was bought for $219,000. This is pending HUD approval to convert these into public housing units for affordable ownership, according to Rivera.

For 73 years, the housing authority has overseen projects, which currently include 215 public housing units and 529 mixed income “affordable” housing units, with 45% of those properties dependent on federal tax dollars.

The homes are expected to be available once the Federal Housing and Urban Development approves a request by the housing authority to covert these public housing units into affordable home ownership, according to Rivera.

The 73-year-old housing authority oversees 215 public housing units and 529 mixed-income affordable housing units in the city, she said. About 45 percent of those properties are dependent on federal dollars.

The Clearwater Housing Authority website states that there are currently 1,340 Section 8 vouchers, beyond the housing units they oversee.

From a PDF on their website, is their mission statement, which reads as follows.

Mission. State the PHA’s Mission for serving the needs of low-income, very low-income, and extremely low income families in the PHA’s jurisdiction for the next five years:

To lead in creating housing opportunities to enhance the lives of those we serve.

We will:

– Build communities with innovative programs.

– Sustain a dignified and desirable environment.

– Create alliances to nurture self-sufficiency.

Similar to the Daily Business News’ WilCo report, the irony is there are Florida based manufactured and modular home building centers which could fill these needs faster, greener and at a lower cost than the renovation projects that are in process. ##

(Photo credit: Google street view)

MIPs Increase for Specific FHA Projects

April 10th, 2012 Comments off

InsuranceNewsNet has issued a report from Housing and Urban Development (HUD) saying the mortgage insurance premiums (MIPs) for certain FHA multifamily housing and health care facilities will increase 15 basis points FY 2013. The market-rate for new construction/substantial rehabilitation loans will rise 20 basis points (except 223(a)(7) will increase five basis points). Not included in the increase are Low Income Housing Tax Credit Loans, and “other affordable housing loans for HUD-assisted properties, or loans insured under FHA’s Risk Sharing programs.” MHProNews.com has learned this MIP raise will increase funds to the Treasury Dept. and also make the playing field between private lending and FHA move level.

(Image credit: bankrate)

 

MHI Sluggers come to Louisville, Part I

January 16th, 2012 Comments off

In speaking to a packed room at the Louisville Manufactured Housing Show Jan. 12, Joe Stegmayer, CEO of Cavco/Fleetwood and MHI Chairman told attendees about the ongoing efforts of MHI to advance the Industry’s agenda in Washington. Stegmayer spoke of the critical nature of involvement by state associations, because “all politics are local.” Stegmayer said MHI and MHARR have been working together on some issues coming out of Washington. Both organizations participated in a conference call Nov. 22, 2011 with Federal Housing Authority (FHA) Commissioner Carole Galante and Housing and Urban Development (HUD)’s program manager Henry Czauski. They discussed tight credit, a non-career administrator for the MH program, and representation on the Manufactured Housing Consensus Committee (MHCC). Stegmayer said he hopes they can work even more closely with each other in the days to come. He said MHI is carefully looking for a replacement for Thayer Long, and suggestions on a possible replacement should be sent to jboehlert@mfghome..org. Sources tell MHProNews that the goal is to have a replacement for Thayer Long in place on or before March 2012. Some of the biggest names in the Industry were in attendance for Stegmayer’s address, along with a healthy dose of ‘mom and pop’ operators who make up the majority of the players in the Manufactured Housing Industry today.

(Photo credit: MHProNews)