September 10, 2015
- Franklin Square and Mt Clare Housing Developments
- Projected Focus Areas
- Lease to Purchase Model
- Unity Properties (Bon Secour Housing)
- GIS – College Park Project
- Community Land Trusts
- Rent Near Your Work
- Old Business
- Healthy Neighborhoods Loan Fund – schedule meeting
- New Business
Minutes for September 10, 2015
Housing Committee Meeting
Jamie Pitts, Chair, opened the meeting with a round of introductions.
The major discussion was on the progress of housing developments in Franklin Square and Mt Clare. Michael Seipp presented an overview of the two proposals.
The Franklin Square project would include the vacant houses in the area bounded by Carey Street, Mulberry Street, Lexington Street and Gilmor Street. There are 47 vacants identified within this area.
The Mt Clare project would include the vacant houses on Gilmor Street from Pratt to Cole and extending one block in either direction on Ramsey, McHenry and Cole Streets. There are 67 vacants identified on these blocks.
The concept that has been discussed with the communities is a lease to purchase financial model. The houses would be completely renovated and the families occupying the properties would eventually become owner occupants. The lease to purchase model allows the development entity to raise funds using the federal Low Income Housing Tax Credit program. The funds raised through the sale of the tax credits would be used to make up the difference between the cost of renovations and the appraised post renovation value of the property.
There will be formal presentations made to the two community associations at their next meetings.
Geographic Information Systems
The University of Maryland College Park has agreed to use the Southwest Partnership neighborhoods as their laboratory for the development of a GIS. The class will meet in the community in late October. They will develop a mapping system that will be layered with key information about the community: housing, crime, education, unemployment etc.
At the end of the semester the mapping tool will be turned over to the community through the Southwest Partnership for us to use.
Community Land Trusts
Jamie raised the issue of the Committee learning more about a tool used on other areas to preserve housing affordability. This tool is a community land trust. Jamie distributed information about CLT for the committee members. He asked if there was interest in bringing more information to the committee at a later date. It was unanimous that he SWP should learn about CLTs and figure out how they might be useful in helping SWP maintain its diversity.
Rent Near Your Work
As the meeting time was running out, Michael gave a brief overview of Rent Near Your Work as a mechanism to assist employees of the anchor institutions in becoming residents of the SWP area. The topic was tabled for further discussion at a future meeting.
Topic was tabled due to time constraints
Meeting was adjourned at 9 PM.