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 help achieve the following
Applicable Geographic Scales
Countywide
Municipalities
Key Issues Addressed
Sustainability Considerations
Sub-geographies (Census tracts that are at 80% or below of Area Median Income)
Equity Considerations
Working in Low - to moderate income areas provide opportunities for homeownership creates racial and economic diversity.
Expanding pathways to homeownership in Low - to moderate areas can lead to sustained community improvements.
Related Planning Topic Areas
Inclusive
Economies
Complete Communities
Responsible Growth
Low
(Less than $1 mil)
Medium
($1-5 mil)
Partnership
Implementation
Lead Partner(s)
St. Louis County Department of Human Services - Office of Community Development
Timeline
Ongoing
Near-term
(Within 5 Years)
Supporting Partner(s)
St. Louis CDFI Coalition
Affordable Housing Trust Fund
Home Repair Network
Beyond Housing
Project
Cost
High
($10+ mil)
Project, Partnership, or Policy
Policy
Medium-term
(5-10 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
Keep going and publish the success.
Tracking Success
Percentage of St. Louis Port Authority Community Reinvestment Fund targeted to rehabilitation of for-sale housing.
If overperforming, what should we do?
Assess what barriers may exist such as a lack of awareness of funding source, neighborhood challenges, etc.
If underperforming, what should we do?