Getting Organized for Vacant Property Reclamation

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Getting Organizedfor Vacant Property Reclamation
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jkromer_at_sas.upenn.edu www.neighborhoodrecovery.com
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The Basics

• Organize Prevention Strategies

• Housing counseling
• Down payment/
• settlement financing
• Home inspections
• Home repair grants/
• loans

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The Basics

• Prepare Property Inventory
• Real estate records
• data base
• Digitized parcel
• base map

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The Basics

• Identify cream and dogs

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The Basics

• Assess micro-development potential

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The Public-Sector Team

• Development agency question
• Whos in charge?

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The Public-Sector Team

• Operating agency question
• Whos on board?
• Key agencies law and code enforcement

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Resource Management Strategies

• Change the CDBG calendar
• Start the program year in Januarynot July or
  October

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Resource ManagementStrategies

• Lend at zero percent
• Use unspent funds through CDBG float loan
  financing

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Resource Management Strategies

• Link code enforcement and property acquisition
• Issue entry authorizations to abate code
  violations
• Then acquire on fast track to keep pace with
  rehab

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Resource Management Strategies

• Guarantee part of the appraisal gap