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Recently at a town hall meeting, I learned that little ole New Albany has the third highest number of public housing units in the state. Yep, that's right, a town of around 40,000 has more public housing than Evansville or Fort Wayne. Only Indianapolis and Gary have greater quantities of public housing. Now I am all for helping people find shelter if they really need help. But, if New Albany wants to build on the revitalization that has started downtown, public housing is not the answer. Home ownership is the number one key to building great neighborhoods. These places must have residents that are here to stay, not renting month to month. A vested interest by long time home owners will turn these streets around and save the schools that are on the chopping block.
I propose that the city set aside a percentage of the funds received from the government to be used for down payments, rehab expenses or mortgage fees to those that will commit to living in these homes for an extended period of time. The landlords don't care about Silver Street, the tenants don't care if their kids move to another school. This cycle repeats itself over and over and the blocks get neglected by those that don't have a long term interest. If you own a car, you will take care of it. If you rent a car, chances are you won't treat it the same. There have been no solutions put forward in this area that I have heard and my suggestions may not work. The conversation needs to be started now before we lose valuable time and schools. With folks looking to move closer in because of energy costs, now is the perfect time to act.
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I propose that the city set aside a percentage of the funds received from the government to be used for down payments, rehab expenses or mortgage fees to those that will commit to living in these homes for an extended period of time.
You're on the right track here.
Just as an FYI, there are people in the community who've proposed such measures and some that are already using them. CHDO, for instance, utilizes a soft second mortgage to help people move from renting to homeownership.
Essentially, CHDO holds a 20% mortgage, require no payments on it, and then forgives it if the new homeowner lives in the house for a specified number of years. It allows new homeowners to buy a house at 80% of its market value and build equity quickly in return for their committment while not artificially depressing property values as subsidizing purchase prices would. It's a common strategy around the country but has been mostly aimed at low-income folks.
While that's a worthwhile endeavor, a shift in thinking has to occur from a focus on low-income housing to neighborhood revitalization. They're very different goals but have incorrectly come to be viewed as one because of available funding streams and the compliance rules associated with them.
Low-income housing initiatives can and should be a part of revitalization strategy but are just that- a small part of a much larger puzzle.
What needs to happen, as you mention, is incentive based on geographic location rather than income levels. It's a tougher sell, no doubt, as many will complain the second someone of means is subsidized.
Our historic neighborhoods, though, were designed to function as economically diverse areas. We need people of all income levels to maintain the varied housing stock. That means attracting and retaining them, including the more financially well off among us.
The consultants in town last week for the housing study made that point pretty clearly when they were here and when I've dealt with them in the past. I'd be surprised if doing something similar to what you're saying isn't included in their final analysis.
Jeff, I have tried to help in this area by talking to the mayor at the town hall meeting. I asked for specifics on the houses that will be torn down and offered to build on these sites very affordable homes. The mayor seemed enthused at the time, mainly for getting them back on the tax rolls, but repeated calls to his office have only produced vague locations. I have obtained plans for shot-gun style, such as was highlighted on your blog many months ago, as well as traditional style homes that can be built fairly inexpensive. I am ready to get started, but right now I am waiting for more information.
Please email me at the address in my profile. Perhaps this an area where we can work together.
Really excellent points. I think that it was obvious from the consultations that took place last week that it is imperative that we have more home ownership downtown. One dilemma we do have is that many of the homeowners who are renting are not doing the upkeep to maintain good, and attractive housing. It's important that the owners and the renters all work together to maintain nice housing.
Interesting note about Silver Street School is that it actually is a school that has some strong, home ownership near it. Much of what is around it is something we are all seeking and something that the consultants stressed to be important. Losing a neighborhood school like that would be beyond awful.
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