City of Winter Park City of Winter Park Community Redevelopment Agency Community Redevelopment Agency

Florida Housing Coalition Florida Housing Coalition ConferenceConference

9/22/099/22/09

Presentation AgendaPresentation Agenda

What is a CRA?What is a CRA? Characteristics of Characteristics of

the Winter Park the Winter Park CRACRA

Affordable Housing Affordable Housing History and Issues History and Issues Going ForwardGoing Forward

CRA EstablishmentCRA Establishment

Authorized under FL Statute 163 Part IIIAuthorized under FL Statute 163 Part III Established by local resolutionEstablished by local resolution Based upon an adopted finding of “blight” Based upon an adopted finding of “blight” Planned remedy through an agreed upon CRA Planned remedy through an agreed upon CRA

Plan by the Municipality and the County. Plan by the Municipality and the County.

Tax Increment FinancingTax Increment Financing

CRA’s leverage the marginal increase in tax CRA’s leverage the marginal increase in tax revenues from both the City and County to revenues from both the City and County to perform its mission. perform its mission.

The City and County contribute the majority of The City and County contribute the majority of the taxes from the tax base revenue collected in the taxes from the tax base revenue collected in excess of the base year to the CRA for a set excess of the base year to the CRA for a set period of time.period of time.

The CRA uses the revenue to issue debt to The CRA uses the revenue to issue debt to finance projects and programs. finance projects and programs.

OversightOversight

The The CRA AgencyCRA Agency is made up of the City Commission is made up of the City Commission plus a representative from Orange County to make plus a representative from Orange County to make all final decisions.all final decisions.

The The CRA Advisory BoardCRA Advisory Board is made up of Community is made up of Community Volunteers who meet and make recommendations to Volunteers who meet and make recommendations to the Agency.the Agency.

County Board of Commissioners County Board of Commissioners has oversight to has oversight to approve or disapprove of projects funded by debt approve or disapprove of projects funded by debt financing. financing.

How can the CRA Expend How can the CRA Expend Funds Funds –FS 163–FS 163

Each CRA, by virtue of its unique issues and Each CRA, by virtue of its unique issues and solutions as presented in the CRA Plan, has solutions as presented in the CRA Plan, has latitude in interpreting justifiable CRA latitude in interpreting justifiable CRA expenditures.expenditures.

Generally, as long as the activity is part of the Generally, as long as the activity is part of the adopted Plan, advances the CRA's stated adopted Plan, advances the CRA's stated redevelopment goals and objectives and is clearly redevelopment goals and objectives and is clearly for a public purpose, it is appropriate to use CRA for a public purpose, it is appropriate to use CRA money.money.

And yes, And yes, Affordable Housing Affordable Housing is specifically is specifically mentioned as a valid expenditure. mentioned as a valid expenditure.

What is not a CRA Qualified What is not a CRA Qualified Expense Expense –FS 163–FS 163

CRA Funds may not supplement General Fund CRA Funds may not supplement General Fund dollars. In other words, if it is something the City dollars. In other words, if it is something the City has customarily paid for by itself, or if the City has customarily paid for by itself, or if the City was planning to pay for the activity by itself, then was planning to pay for the activity by itself, then it's probably not an appropriate expenditure for it's probably not an appropriate expenditure for Trust Fund dollars. Examples are: CRA Funds are Trust Fund dollars. Examples are: CRA Funds are NOT to be used for construction or expansion of NOT to be used for construction or expansion of administrative buildings.administrative buildings.

CRA does not stand for Cash Right Away!CRA does not stand for Cash Right Away!

CRA Funds may not be used for installation CRA Funds may not be used for installation construction, reconstruction, repair or alteration construction, reconstruction, repair or alteration of any publicly owned capital improvements of any publicly owned capital improvements unless they are an integral part of a unless they are an integral part of a redevelopment project as outlined in the CRA redevelopment project as outlined in the CRA Plan. Plan.

CRA Funds may not be spent on general CRA Funds may not be spent on general operating expenses unrelated to planning or operating expenses unrelated to planning or carrying out community redevelopment. carrying out community redevelopment.

What is not a CRA Qualified What is not a CRA Qualified Expense Cont. Expense Cont. –FS 163–FS 163

Bottom Line: Bottom Line:

If it’s not in your Plan, don’t do it.If it’s not in your Plan, don’t do it.

The Winter Park CRAThe Winter Park CRA Plan adopted in 1994Plan adopted in 1994 CRA area expanded in 1999CRA area expanded in 1999 CRA Strategic Plan approved in 2007CRA Strategic Plan approved in 2007

• Outlined goals for next four yearsOutlined goals for next four years CRA sunsets in 2027CRA sunsets in 2027 A slightly different CRAA slightly different CRA

• Social MandateSocial Mandate

Map of the CRAMap of the CRA

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DemographicsDemographics2006 Data CRA City of Winter Park

Total Population 2,884

27,868

Owner Occupied Housing Units 39% 62%

Renter Occupied Housing Units 50% 31%

Vacant Housing Units 12% 7%Median Household Income $ 34,730 $ 60,495

Total Businesses 1,531 2,748

Summary:Summary:Central Business District w/Half of all BusinessesCentral Business District w/Half of all Businesses

Low Income Residential Area w/ 10% of City’s PopulationLow Income Residential Area w/ 10% of City’s PopulationLow HomeownershipLow Homeownership

Higher Vacancy RatesHigher Vacancy Rates

Why Affordable Housing?Why Affordable Housing?

Demonstrated needDemonstrated need Median home price above $400KMedian home price above $400K Lower ownership rate w/in CRALower ownership rate w/in CRA

Sustainability of businessesSustainability of businesses Commute times and gas pricesCommute times and gas prices Competitiveness of town centersCompetitiveness of town centers

Preservation of characterPreservation of character Historic neighborhoods and stylesHistoric neighborhoods and styles

Maintenance of the tax baseMaintenance of the tax base 2007 CRA Strategic Plan2007 CRA Strategic Plan

Identified affordable/workforce housing as one Identified affordable/workforce housing as one of its 6 goalsof its 6 goals

Affordable Housing InitiativesAffordable Housing Initiatives Affordable Housing Linkage FeeAffordable Housing Linkage Fee

Established in 1990Established in 1990 50 cents per square foot of all new 50 cents per square foot of all new

construction and major renovationsconstruction and major renovations Funding is placed in the Affordable Housing Funding is placed in the Affordable Housing

Trust Fund and can be used for any Trust Fund and can be used for any expenditure that promotes affordable housing.expenditure that promotes affordable housing.

Approximately $2.7 million in funds collected Approximately $2.7 million in funds collected since inception.since inception.

Affordable Housing InitiativesAffordable Housing Initiatives Habitat for HumanityHabitat for Humanity

Funded by the Affordable Housing FundFunded by the Affordable Housing Fund City has donated close to 40 lots.City has donated close to 40 lots. Habitat worked with City to develop a local Habitat worked with City to develop a local

model that fit with the surrounding model that fit with the surrounding neighborhood.neighborhood.

Affordable Housing InitiativesAffordable Housing Initiatives Railroad Ave ApartmentsRailroad Ave Apartments

Funded by the Affordable Funded by the Affordable Housing Fund and other Housing Fund and other community partnerscommunity partners

2004 project that replaced 29 2004 project that replaced 29 dilapidated residences with 30 dilapidated residences with 30 new apartmentsnew apartments

9 of the original homeowners 9 of the original homeowners moved back into the new moved back into the new development and the City development and the City subsidized their temporary subsidized their temporary housing during the transitionhousing during the transition

Winter Park Housing Authority Winter Park Housing Authority Manages the PropertyManages the Property

City contributed $1 million of City contributed $1 million of the $2.7 million costthe $2.7 million cost

Affordable Housing InitiativesAffordable Housing Initiatives Winter Park Housing AuthorityWinter Park Housing Authority

Manages approximately 700 affordable Manages approximately 700 affordable housing units in the Cityhousing units in the City

City provided $1 million from the Affordable City provided $1 million from the Affordable Housing Trust Fund to be paid over 10 years to Housing Trust Fund to be paid over 10 years to help preserve the affordability of 196 senior help preserve the affordability of 196 senior apartments.apartments.

Manages the City’s Railroad Ave Apartments Manages the City’s Railroad Ave Apartments

Affordable Housing InitiativesAffordable Housing Initiatives Housing Rehabilitation ProgramHousing Rehabilitation Program

CRA funded programCRA funded program Established in 2002Established in 2002 Performed over 130 rehabilitations of low Performed over 130 rehabilitations of low

income housing within the CRAincome housing within the CRA Provides up to $20,000 for qualified Provides up to $20,000 for qualified

improvements to reduce displacement of low improvements to reduce displacement of low income families, promote health and safety, income families, promote health and safety, and beautify neighborhoods.and beautify neighborhoods.

Almost $1.4 million spent or allocated through Almost $1.4 million spent or allocated through FY 2010FY 2010

Affordable Housing InitiativesAffordable Housing Initiatives Hannibal Square Community Land TrustHannibal Square Community Land Trust

CRA/City funded programCRA/City funded program Established in 2004Established in 2004 Completed 14 houses to-dateCompleted 14 houses to-date Mission to provide perpetually Mission to provide perpetually

affordable/workforce housing in Central Florida. affordable/workforce housing in Central Florida. Programs include educational components for Programs include educational components for

homeowners, rent-to-own, and subsidy homeowners, rent-to-own, and subsidy assistance.assistance.

City contributed lots for existing housing and City contributed lots for existing housing and has a memorandum of understanding for has a memorandum of understanding for additional land grants.additional land grants.

CRA contributed $1 million in capital to build CRA contributed $1 million in capital to build projects.projects.

Canton ParkCanton Park

West West ComstockComstock

Promotion and FundingPromotion and Funding How do you promote the cause of Affordable How do you promote the cause of Affordable

Housing in the current economic environment?Housing in the current economic environment?

Less pressure on gov’t agencies to fund Less pressure on gov’t agencies to fund affordable housingaffordable housing No one wants to build new constructionNo one wants to build new construction Federal programs for housingFederal programs for housing Prevalence of foreclosuresPrevalence of foreclosures Collapse of condo marketCollapse of condo market

Promotion and FundingPromotion and Funding How do you promote the cause of Affordable How do you promote the cause of Affordable

Housing in the current economic environment?Housing in the current economic environment? Shift FocusShift Focus

From New to Pre-OwnedFrom New to Pre-Owned Not interested in new developmentsNot interested in new developments

Reuse & RenovationReuse & Renovation Housing rehabHousing rehab

Innovative ConceptsInnovative Concepts CLTs: Perpetual affordabilityCLTs: Perpetual affordability

Plan for the futurePlan for the future Buy assets nowBuy assets now

Be the BestBe the Best

Questions?Questions?

Peter MoorePeter Moore

Assistant Director Community Assistant Director Community Redevelopment Dept.Redevelopment Dept.

407-599-3567407-599-3567

pmoore@cityofwinterpark.compmoore@cityofwinterpark.com