05-29-2007 Luecke plans to reduce abandoned houses by 72%

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o�sou Tx F dx :J b W eFacE � � y� a 1, a2 1865 Office of the Mayor NEWS RELEASE May 29, 2007 10 a.m. Luecke plans to reduce abandoned houses by 72% Contact: Mikki Dobski, Director of Communications&Special Projects, 235-5855 or 876- 1564, Jeff Gibney,Interim Director of Community and Economic Development, 235-9375, or Catherine Toppel, Director of Code Enforcement, 235-5914 Mayor Stephen J. Luecke today introduced a three-year, $6.825 million strategy to reduce South Bend's vacant houses by more than one-fifth, with most of the focus aimed at reducing abandoned houses by 72 percent. The comprehensive strategy includes the demolition of 400 derelict houses and the revitalization of 45 distinctive properties in targeted neighborhoods. It builds on the city's existing work in code enforcement, on public-private homebuilding partnerships with successful track records and on a national trend of homebuyers returning to urban neighborhoods. The centerpiece of the strategy is a public-private effort to attract all income levels of homebuyers to targeted city neighborhoods, initially concentrated on the city's west and northwest sides. Over three years, the city would make available 45 homes to nonprofit community development corporations. The nonprofits would market and sell the properties for $1 apiece to owner occupants or developers who would refurbish them. The eventual owner occupant must reside in the home for five years. Total cost of the strategy is almost evenly divided as a$3.45 million outlay by the city is used to leverage an anticipated $3.375 million private investment. "With this comprehensive strategy, today marks aturning point for troubled properties in South Bend and a significant step toward returning them to productive and active use," Luecke said. "Prospective homeowners will be drawn to these $1 homes because of the city's heritage and the quality of life afforded by the front-porch neighborhoods in which they are located. They are indeed diamonds in the rough, waiting for an inspired and committed homeowner to make them shine."