Recommendation CC.16
Recommendation Status: Expand
Allocate new public funding sources to help residents purchase and rehabilitate formerly vacant homes. Provide tax incentives to assist current homeowners with residential property upgrades.
This recommendation helps achieve the following
Complete
Communities
Inclusive
Economies
Responsible
Growth
Key Issues Addressed
Related Planning Topic Areas
Applicable Geographic Scales
Countywide
Municipalities
Sub-geographies
Equity Considerations
Working in Low - to moderate income areas provide opportunities for homeownership creates racial and economic diversity.
Sustainability Considerations
Expanding pathways to homeownership in Low - to moderate areas can lead to sustained community improvements.
Implementation
Lead Partner(s)
St. Louis County Department of Human Services - Office of Community Development
Supporting Partner(s)
Cost
Low
(Less than $1 mil)
Medium
($1-5 mil)
High
($10+ mil)
Project, Partnership, or Policy
Project
Partnership
Policy
Timeline
St. Louis CDFI Coalition
Affordable Housing Trust Fund
Home Repair Network
Beyond Housing
Medium-term
(5-10 Years)
Ongoing
Near-term
(Within 5 Years)
Long-term
(10+ Years)
Potential Funding Sources
Community Development Block Grants
HOME Investment Partnership funds
St. Louis County Port Authority Community Investment Fund
Federal Home Loan Bank
Missouri Department of Revenue
Missouri Housing Development Commission
Christian Hospital Foundation
Tracking Implementation
Tracking Success
Percentage of St. Louis Port Authority Community Reinvestment Fund targeted to rehabilitation of for-sale housing.
If overperforming, what should we do?
Keep going and publish the success.
If underperforming, what should we do?
Assess what barriers may exist such as a lack of awareness of funding source, neighborhood challenges, etc.