STARR Housing Program - $20,000,00 budget

We extend an invitation to you to attend our town hall meeting that we will be hosting on July 8th in the Tower Club at the Thanksgiving Tower. The time will be 7pm and it is on the 48th floor. We would love to see you there along with any other people that would like to attend.

The Stabilization of Target Areas through Redevelopment and Rehabilitation Housing Program

The government has issued a NOFA (Notice of Funds Availability) for NSP2(Neighborhood Stabilization Program 2). This NOFA allows people to submit proposals and compete for funding to help rebuild blighted areas that are plagued by foreclosures and abandonment.

We are a consortium of non/for – profit entities that share a passion in the revitalization and health of our community.

Our purpose is to revitalize areas in the Dallas and Waller County regions that are blighted, abandoned or affected by foreclosure. We will locate these properties based on geographical needs per the NSP Need Map, market conditions and demand factors. Using the funds allotted to us, by NSP, we will be able to acquire, demolish, redevelop and rehabilitate homes and land in the areas selected.

Acquired homes in the designated census tracks will be targeted for remodeling or demolished based on our formula: If rehabilitation of a home cost less than %50 of the total purchase price it will be remodeled, if cost of remodeling is greater than %50 of total purchase price it will be made into a land bank and redeveloped.

Our sub-budgeting plan is as follows:
Acquisition*, Remodeling, Redevelopment***
80%
$16,000,000

Demolition**
<10%
$2,000,000

Other
10%
$2,000,000

Total
100%
$20,000,000

*Land banks and homes
** Cannot be greater than %10 per regulations
*** Redevelopment of demolished properties
We plan on refurbishing/redeveloping 125 homes.

The end product of all of our homes will be economically sustainable and energy efficient, while incorporating the newest green standards. By doing this, we will be raising the communities sprit and moral while offering the people a new outlook on their community. Our program will aid in the elimination of crime on vacant and abandoned properties and also raise property values.

If you have any questions please feel free to call me at 469-767-5260 and also you can call Mrs. Dennis at 214-566-7350.

Chase Martin

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