Showing 2 ideas for tag "housing; affordability; community development"

Housing & Affordability

Community Scholars in Affordable Housing

Miami consistently tops lists of the most expensive cities in the nation due to the high costs of housing and transportation. Nearly half of the households in the region are cost-burdened—that is, they spend more than 30% of their income on housing. Adequate provision of affordable housing has been linked with enhanced opportunities for educational success in children, improved health outcomes, and local economic stimulus,... more »
Who are you?

The University of Miami’s Office of Civic and Community Engagement fosters university-community collaboration by engaging the university’s academic resources in the enrichment of civic and community life in our local, national and global communities.

How does this project impact the issue you selected?

The Community Scholars in Affordable Housing Program addresses affordable housing by building connections among housing and community development professionals, creating a strong network of engaged leaders who address this issue from multiple perspectives. The challenging field of affordable housing requires strong organizations with well-developed staff and a network of practitioners who collaborate on initiatives and programs to advocate more effectively for housing affordability.

What data points from The Our Miami Report does your project address?

Miami’s median household income is well below other major metropolitan areas, making housing affordability one of our key issues. Over 20% of Miami’s population lives in poverty, defined at an income of $23,850 for a family of four. With the average rent at $2,049 per month, many Miamians are cost-burdened or extremely cost-burdened, making it essential that our local community organizations effectively address this issue and create more affordable housing to attract and retain residents.

Please give examples of your project's success.

The Community Scholars in Affordable Housing program was piloted in 2014, and has been a resounding success thus far. We received a strong pool of applications and selected a highly talented and diverse group of emerging leaders for our first cohort. Assessment results were very positive, with an overwhelming majority agreeing that they learned new information and skills, developed new personal or organizational connections, and will be able to apply the knowledge learned to their work.

Organization Name (or individuals name) University of Miami

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Housing & Affordability

TEC: Educating & Counseling about Mortgage Subsidies

Housing affordability is a major factor in where people choose to live and how well they live. When housing isn’t affordable, people can’t afford to buy a home or must choose housing far from their job. The affordability of housing in Miami-Dade County remains as an obstacle to ownership and affordable rentals. Another major obstacle to our low-moderate residents is the lack of knowledge about subsidy programs that help... more »
Who are you?

Trinity Empowerment Consortium(TEC) provides counseling and education to families by helping them to identify affordable housing solutions and maximizing their potential by focusing on the limiting factors that preclude them from achievement.

How does this project impact the issue you selected?

The lack of awareness within the low-moderate income communities for which the subsidy programs were developed continues to be a problem. The subsidy programs help make home ownership more affordable, but require stricter guidelines than FHA or conventional programs. By Increasing PR and marketing about the programs coupled with counseling and support to help prepare the potential home owners will result in greater utilization of the funds to make housing more affordable.

What data points from The Our Miami Report does your project address?

The data in the Our Miami Report indicated that over 65% of renters in Miami are spending 30% or more on housing and that there was a decline in ownership rates from 2011 to 2013 are a part of the impetus behind our proposal. When the increase of 36% in the median sales price is added into the mix, the severity of the problem becomes more significant.

Please give examples of your project's success.

Ms L contacted us about the availability of subsidies to help her purchase her 1st home. It was determined that she was not eligible for subsidies due to a low credit score. Fast forward 8 months, after counseling, not only does she have an excellent credit score (765+), but a pre-approval for a mortgage utilizing subsidy programs. This is just one example of the success received when we are able to provide the combination of intense credit empowerment counseling and homebuyer education.

Organization Name (or individuals name) Trinity Empowerment Consortium, Inc.

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