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SUMMARY - Perley Park Target Area Status Report August 14, 1999 <br />Goals for Target Area - 1.4 blocks <br />including Chalfant, Bissell, Sorin Streets from Ede to Twyckenham <br />1.- Create 70% home ownership -- <br />2. Create an appearance of physical revitalization <br />3. Create a community standard for property upkeep above minimum code enforcement <br />standards <br />4. Involve neighborhood residents in resolving problem property and other neighborhood issues <br />Where are we at? <br />Of the 217 properties in the area - 22 (10%) are still problems, either vacant homes (16) or need <br />code and/or police attention (5). <br />How has the NHS intervened? <br />We have facilitated investment by others in 26 properties (12%). These include 1 I home owners <br />assisted to buy homes, 12 home owner rehab loans, 3 other nonprofit renovated or new <br />construction homes. <br />We have directly invested in 28 properties (13 %). These include I I we have <br />acquired/rehabilitated/sold, 5 new homes we have constructed/are in construction now, 5 lots <br />purchased and given to Habitat for Humanity, and 7 other vacant lots we have purchased. <br />How have the home ownership and vacant property rates changed since 1994? <br />In 1994 there were 112 owner occupied properties (52%). Today there are estimated to be 146 <br />owner occupied properties (67%) - this includes 6 properties we are currently working on or <br />have on the market. In order to get to 70% home ownership, we would need to convert 6 more <br />rental or vacant properties to owner occupied, not including those we are currently working on. <br />It would also mean that no additional properties would be converted from owner occupied to <br />rental properties in the area. <br />,in 1994 there were 24 vacant homes (1 I%) and today there are estimated to be 16 vacant homes <br />(7%). There were 16 vacant lots not connected to homes (7%) and today there are 7 (3%). <br />What additional development do we have "in the works" today? <br />In the rest of 1999 we should complete 2 more acqusition/rehab projects; 2 demolitions, 2 new <br />homes, and 1 special demolition. Of these, 3 new owner occupied homes and 2 demolitions <br />would occur in the original target area. The others are projected for Campeau Street, adjacent to <br />the original target area. <br />In the I st half of 2000, we should complete I acquisition rental/rehab; 1 new home; and 1 <br />acqusition rehab for a total of 2 more owner occupied homes. <br />Five more owner occupied homes could be funded and developed in the next year with available <br />funds. <br />