Initial Themes Power Point presentation from I2 CDC

Report
RUTLAND NORTHWEST
NEIGHBORHOOD
REVITALIZATION STUDY
Preliminary
Themes
KEY THEMES FROM EARLIER MARKET
STUDY
 The City of Rutland is losing population not just because of a
regional economic decline, but also because it is not
competing well against other towns when households decide
where to live
 Rutland has an under-valued housing market
 Affordability is excellent compared to most markets nationally
 Excellent time to buy
 But people need to have confidence in the neighborhood they’re
buying in
 2-4 unit stock is not desired by the market; severely under invested
 Key neighborhoods are seeing concentrated poverty, blight,
disinvestment
GOALS FOR THE REVITALIZATION STUDY
 Focuses on the Northwest neighborhood of Rutland
 Recommend a detailed, property -by-property strategy for
addressing blighted properties in the neighborhood
 Recommend revitalization strategies:
 Neighborhood market-building strategies to reposition the
neighborhood and positively influence decisions by homeowners and
homebuyers to invest in the neighborhood
 Strategies to engage with /support grassroots stakeholders seeking
to better manage day -to-day neighborhood issues
 Other strategies to promote revitalization within the neighborhood
 “Healthy Neighborhoods” = places where it makes sense for
people to invest their time, money and energy
PROJECT TASKS FOR THE
REVITALIZATION STUDY
 Met with City staff and toured the Northwest
neighborhood
 Interviewed local neighborhood and housing
market stakeholders
 Compiled, analyzed and mapped data about
the neighborhood housing market
LAND USE AND FLOOD ZONES
POLICE CALLS
PROPERT Y DISINVESTMENT
TENURE AND DISINVESTMENT
OVERALL BLOCK ATTRACTIVENESS
TARGET AREA NUMBERS
396 Total Parcels/845 Total Housing Units
32% Owner Occupied
68% Investor Owned
21 Vacant Structures
34 Properties with Tax Delinquencies greater
than $1,000
 10 Owner Occupied
 18 Investor Owned
 6 Non-Residential Uses
18 Properties with Foreclosure Filings
16 Properties For Sale
HEALTHY NEIGHBORHOOD OUTCOMES
Outcomes are a way to describe how a
neighborhood looks and behaves when it is
healthy. Revitalization strategies for healthy
neighborhoods are focused on achieving some
important outcomes in four areas.
1: NEIGHBORHOOD IMAGE
 Healthy neighborhoods have a positive image that
makes people want to stay there, and others want to
move there.
 It makes business and government want to invest
there.
 In healthy neighborhoods, people are confident in
the future.
2: REAL ESTATE MARKET
 In healthy neighborhoods, home values are strong
enough to “get back” your investment in
maintenance and improvements – and strong enough
that homebuyers think buying a home there is a
good investment.
 Healthy neighborhoods attract good neighbors
whether they are renters, landlords or owner occupants, and they attract a variety of income
groups.
3: PHYSICAL CONDITIONS
 Homes, businesses, streets and parks look like
people are proud to be there – people take care of
their property and do their part to keep the
neighborhood looking great.
STANDARD SETTERS
PRELIMINARY STRATEGY
RECOMMENDATIONS
BUILD CONFIDENCE, SAFET Y AND IDENTIT Y
1
2
3
Build community, organization and skills among
neighbors, including renters and landlords, to
manage day-to-day issues.
Implement safety initiatives with neighbors, but
avoid making crime-fighting the image of the
neighborhood.
Build neighborhood identity around closeness to
downtown and other recreational amenities,
friendly neighbors and a great value for
homeownership.
MOVE TO HIGHER OWNER-OCCUPANCY
1
2
3
4
5
Protect, support and retain strong owner -occupants and
landlords by proactively addressing problem properties
around them, and designing “whole block” approaches.
Put a “circuit breaker” into tax delinquent dispositions –
avoid auction in favor of transfer to a responsible
(nonprofit) developer who will rehab to an owner -occupant
standard and find an owner -occupant buyer.
Reach out to owner-occupants in danger of tax or mortgage
foreclosure to help resolve or achieve smooth transition.
Work with existing renters interested in buying a home via
homebuyer education.
Rezone to SFR.
HELP LANDLORDS BECOME AN ASSET
1
2
3
4
5
Of fer training to landlords on tenant screening, dealing with
criminal activity, property maintenance, leases, evictions,
compliance with c/o requirements, etc.
Create a regular social networking group of landlords from
this neighborhood to share best techniques.
Low -cost loans to landlords to improve exterior conditions to
pride standard, and grants to reduce density where possible.
Engage landlords in all community building activities.
Avoid scenarios in which undercapitalized, unskilled
landlords can buy poor quality homes, make minimal
investments and are set up for failure.
GET RECALCITRANT OR OVERWHELMED
LANDLORDS OUT OF THE NEIGHBORHOOD
1
2
3
4
Be aggressive about code enforcement.
Work on receivership or other ordinances that will
allow faster action on terrible properties.
Buy out landlords with tax or mortgage delinquent
properties for rehab and flip to owner -occupant.
Find outstanding landlord(s) to buy out the
recalcitrant or overwhelmed landlord(s).
IMPROVE MORE PHYSICAL CONDITIONS TO
PRIDE STANDARD
1
2
3
4
Systematically improve property values and building
conditions by lending for rehab over appraised value,
acquiring and rehabbing over appraised value, etc – bring
values to a point where it makes sense for a private
developer to acquire and rehab for flip to an owner occupant.
Set standards for exterior improvement that must be met in
exchange for low -cost rehab – in line with existing “pride”
standards in neighborhood.
Support beautification ef forts by neighbors with mini -grants,
group buying, etc.
Target street, sidewalk, curb, tree improvements by city.
IMPROVE MARKET CONDITIONS VIA
DEDENSIFICATION
1
2
3
De-densify thru demolition of very poor vacant properties
with assignment of lots to adjacent homeowners and
incentives to improve lots.
De-densify with subsidy to reduce units in a building – either
via loans/grants to existing landlords and homebuyers, or
via acquisition-rehab-resale.
De-densify by changing zoning to SFR.
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IMPLEMENTATION
 “Whole block” approach where the highest and best use for
each property is identified
 Coordinated team approach to look at and review
opportunities along each block quarterly




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
Rutland Redevelopment Authority
NeighborWorks Western Vermont
Building Department
Tax Assessor
Treasurer
Realtor
 Collect and use updated data on Foreclosures, MLS Listings,
Vacant Properties, Tax Delinquency, Neighborhood input to
make decisions
 Acquire properties when opportunities arise even when
strategy is buy and hold
WHERE TO START?

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