9978-09 Appropriating $2,463,435 from Community Development (Fund 212), defraying expenses of CED

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St. Joseph County Housing Consortium The foreclosure situation can be addressed for some. However there are others who have been and will be so significantly affected that they will need housing assistance for the first time. In many cases these are lower income individuals and their ability to alter their housing environment on their own is limited. In some cases, if there are no subsidies available, these people are at risk of homelessness. Add to this scenario the layoffs and unemployment based on the current economic climate, and a new group of individuals seeking assistance surfaces now and for the near future. Housing Market Analysis (91.210) *Please also refer to the Housing Market Analysis Table in the Needs.xls workbook 1. Based on information available to the jurisdiction, .describe the significant characteristics of the housing market in terms of supply, demand, condition, and the cost of housing; the housing stock available to serve persons with disabilities; and to serve persons with HIV/AIDS and their families. Data on the housing market should include, to the extent information is available, an estimate of the number of vacant or abandoned buildings and whether units in these buildings are suitable for rehabilitation. 2. Describe the number and targeting (income level and type of household served) of units currently assisted by local, state, or federally funded programs, and an assessment of whether any such units are expected to be lost from the assisted housing inventory for any reason, (i.e. expiration of Section 8 contracts). 3. Indicate how the characteristics of the housing market will influence the use of funds made available for rental assistance, production of new units, rehabilitation of old units, or acquisition of existing units. Please note, the goal of affordable housing is not met by beds in nursing homes. Median sales prices for the South Bend-Mishawaka area remain among the lowest of any metropolitan area in the country. In 2008, the median sales price for homes in St. Joseph County was about $86,000 ($79,000 within the city limits of Mishawaka and just $43,500 within the city limits of South Bend). According to 2000 Census data, approximately 63% of St. Joseph County's housing stock was built before 1970. Of that, about 54% was located in South Bend, 18% in Mishawaka, and 28% in the County Remainder. Conversely, about 13% of the housing stock was less than 10 years old. The new housing was distributed as 19% in South Bend, 23% in Mishawaka, and 58% in the County Remainder. Twenty-seven percent of the County's housing stock was rental, with 55% of it in South Bend, 31% in Mishawaka, and 14% in the County Remainder.. The majority of the lower-priced (owner occupied, with value less than $100,000) housing was located in South Bend at 52%, with 19% in Mishawaka, and 29% in the County Remainder. At the same time, only 18% of the housing valued at $100,000 or higher was in South Bend, 9% in Mishawaka and 73% in the County Remainder. 2010-2014 Housing and Community Development Plan 34