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Washington Neighborhood Homeownership Program Status Report Copyrighted June 4, 2018 City of Dubuque Consent Items # 4. ITEM TITLE: Washington Neighborhood Homeownership Program Status Report SUMMARY: City Manager transmitting the status report for the Washington Neighborhood Homeownership Program from Community Housing Initiatives (CHI). SUGGESTED DISPOSITION: Suggested Disposition: Receive and File ATTACHMENTS: Description Type Washington Neighborhood Homeownership Program Supporting Documentation Status Report Old House Enthusiasts 31st Annual House Tour Supporting Documentation Brochure 10 April 2018 To: Mike Van Milligen, City Manager From: David Harris, Community Housing Initiatives Re: Status Report—Washington Neighborhood Homeownership Program CHI purchased its first property in March 2013. Since that time, 30 properties have been acquired, with rehabilitation completed on 21.This includes construction of a new home on a lot donated to CHI by the City. 20 homes have been sold to-date, with one currently for sale. Construction is under way on nine properties, with one scheduled for closing this month. Total CHI expenditures to-date exceed $2 200 000. Using data on homes sold through calendar year 2017, we have averaged about$30 000 in purchase costs and $84 000 in rehab costs on each home. Average sale price on our completed homes is$96 000. The City's $25 000/house subsidy—totaling $400 000 to-date—helps to reduce those losses. Adding realtor commissions,taxes, utilities, insurance and administrative costs results in a per-home deficit of about$11000. In our September 2015 report to the Council, we reported average per-home costs of$107 000 and sale prices at$91 000. Comparison up-dated figures are $124 000 and $96 000, respectively, with the significant difference being an increase in rehab costs. We continue to see high demand for CHI homes, with several having been "pre-sold" before construction was completed. This results in part from referrals from previous CHI buyers, who are recruiting their friends to live in the Washington Neighborhood. All recent (since 2015) buyers are younger people, both singles and couples. A sense of community is being established, as more people realize the benefits of home ownership in a walkable, historic urban neighborhood, close to new amenities developing in the area. These include restaurants, coffee shops, brew pubs and the "vibe" coming from the adjacent Millwork District. CHI is developing partnerships with several community-based organizations working to improve conditions in the Washington Neighborhood. The Community Foundation's new community engagement project will be providing volunteers to do landscaping improvements on CHI properties, in conjunction with ISU-Extension's master gardener program. CHI will co-sponsor, in partnership with the Old House Enthusiasts club and Heritage Works, a tour of six of our homes in the Washington Neighborhood on May 19. Our relationship with the HEART Program continues,with five homes completed to-date with student labor. And a CHI property now in construction has received an historic preservation award from the Dubuque County Preservation Commission and the County Historical Society. I again wish to express CHI's appreciation to the City Manager's office,the Housing and Community Development Department and the Council for the continued support of our efforts to promote homeownership in the Washington Neighborhood. cc: Doug LaBounty, CEO, Community Housing Initiatives �. .- - � � �{M� Take this flyer to Steeple Sauare for your free ticket to: � `� ; - + �� , �\ �. � � ����� - . }A h,I� ��, .. .. .. � . �� r ���Y� �he 31 st nnudl �'S`'.i f �. "� � � �a,h��1 i �` 1`t �',F't^^'�°° j � h. • i� i— J,y�� �'.x����' I �e����� I �/1R v �� .:� I �i :��: .- .� �� ouse nt uszczsts � P , -�`';,�� `'� ; +� '� , � ��'',�*.;:: ; � - fi��^ � � \� �� -% = ��gn� �O�ISe �O�11' � � �'-" "..xr'�K'�*'o'4�"�'lP�.. +�c�t". 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STYLE: �= STYLE: �_ STYLE: �u����.�:���� , ,� �; :��f Gothic Revival � i �1t�� � Second Em ire ��: .���_ y` � Folk Victorian - � �- ' ��� I.�, p .'��.*a.�� �'�s1�_.i'�1,e�``,` � � ;i�� I •�, 1 �?�1'�'�'��;;� -- �'% , � DATE BUILT: 1864-1867 tw�� �,,� � DATE BUILT: C 1890 ,,�.�, -,s�� � �,��� DATE BUILT: 1890 , �- ---- .� #�:��1q�: ���-�: - � - ! � ' - NOTABLE FEATURES: ����,� �����- , NOTABLE FEATURES: �� ���t� �� � � NOTABLE FEATURES: ��� � � - � �� ��� � �ri.�-�•�'�= ..•."t .._3 I , . Symetrical Plan,Spire �� -� ����- w Mansard Roof, ��� � ��; ' Vernacular Bay ;,F r Lancet Arch Windows ����°��� � ��- � � S metrical Plan, ��'- ,,�.�. � Window,Rounded � � , ;` � � �. y �.� _,� � - - � � �� s��.��� � ��� Classical Style - Arch Window Hooded - � � ' J �I+' �F � ��k: - �' / _1� - i� •� � ; . ' � Pedimented Entrance, �---- ��- Windows �� ''�- � i � . .. • yN �I•` :;'S.� ■ .�.'_,.• . . i.. . . 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DATE BUILT:1911 -- `_ °�� � . � NOTABLE FEATURES. ,■ . __ NOTABLE FEATURES. � � ,�: _ NOTABLE FEATURES. ,,;' Palladian Window, �� ���,� � ��' - Stamped Concrete __-; NOTABLE FEATURES: e - � = Flat Arch Windows, � � � g� �� � � ; - Full Pediment Gable, �.'�$�� �� ia�"�d�����_.� Claddin ,Return =-- Segmented Arch ' `���� �' Transoms Above '�' _ �� ._ � _ g ,. i���� __ � � - �� � Windows Full Width � Fish Scale Shingle �:����{';� �,�« ��-�A�� Eaves,Cross gable roof ��- , - -4��- �;,pa - Entrances - � � � � Y s'�`��� Porch.Historic - - ��� ��r � `� �# „�: � a„�. �..�_— � A.. _ . -, — ;� . � , - � '' Transom - � , - � ��� ��:4�; � KEY CITY CREATIVE CENTER ' . ___ . OPEN HOUSE _ _ -�_=( . THE CITY OF 10:00 TO 4:00 - , � � . - - � i i �� ,, , �, �. SEE WHERE RESTORATION HAPPENS AT H E R I TA G E � � � � � . Mas terpiece on the Mississippi KEY CITY CREATIVE! W O R KS Key City's mission is to provide an environment where an individual or - - �f : ; � group of individuals has a safe and s acious lace to build and !� "`�� p p _- ; collaborate on projects and/or idea's. �� �� � _�_- _ COMMUN I TY _ HOUSING . . - - I N I T I AT I V E S PRESERVE EDUCATE SERVE