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Housing is affordable
and sustainable when households that are renting or purchasing are
able to pay their housing costs and still have sufficient income to
meet other basic needs such as food, clothing, transport, medical
care and education.  Formulas are
sometimes used to describe housing affordability. For example, it is
often stated that housing is affordable if it costs no more than 30%
of a household’s gross income. But while this figure provides a
useful benchmark of housing stress, the reality is that the
definition of affordability varies according to a household’s
individual circumstances. The demands on the same gross income may differ significantly - childcare may be provided free of charge by family members, a household may be dealing with health problems which require significant financial outlay, a household member may have significant work-related travel costs - all these factors affect how much a household can afford to pay towards rent or mortgage. At Help Inc. Foundation, efforts in developing affordable and sustainable housing have mainly targeted low-moderate income households that are earning less than the median income for the area where they live and are paying a significant proportion of their income toward housing costs. Individuals working in key services on low-to-moderate incomes such as those working in childcare and aged care, police, ambulance personnel, nurses, community development workers and transport workers, are finding it increasingly difficult to find affordable housing close to their work places. Help Inc. Foundation manages its housing projects through the “Welcome H.O.M.E.” program by using real estate transactions and developer contributions under the foundation’s planning system. This allows the program to assist a diverse group of low to moderate income earners. The various models used in developing and managing affordable housing projects have been successful in operating on a financially sustainable basis, effectively generating new affordable housing supply, providing benefits to local communities and achieving positive outcomes for program participants. The Welcome H.O.M.E. program is a community action initiative that changes people's lives, embodies the spirit of hope, improves communities, and makes the world a better place to live. Help Inc. Foundation is committed to the entire community, and is dedicated to helping people help themselves and each other. Help Inc. Foundation Current Housing Projects
Down Payment Assistance Project The WELCOME H.O.M.E. PROGRAM administers the Down Payment Assistance Project (1) to promote homeownership among low-income and moderate-income families, (2) to promote job opportunities through economic growth, (3) empower low-income people to become more self-sufficient and (4) education low-income people how to own a stake in their community. The Down Payment Assistance Project was established as a unique Public-Private Partnership in response to the relationship between economic growth and affordable housing. Loans are available through the Help Inc. Foundation for purchase of an existing house or for new construction. Families may apply for assistance according to a needs based formula. To establish need, liquid assets of less than $10,000 are exempted. If liquid assets exceed $10,000 the borrower must use their funds (the amount in excess of $10,000) toward the down payment and closing costs first. Down payment deferred loans are then provided in an amount up to 5% of purchase price (generally not exceeding $4,000) and a down payment low-interest loan up to 5% (generally not exceeding $4,000).
The Down Payment Assistance Project is funded through a private, along with local government and business support. Cash or land donations are provided by the local community sponsors. Businesses generally provide an amount equal to 50% of the low-interest loan (up to $2,000) and this is matched by the jurisdiction where the house is being bought or built. Families receive a grant through the State funds and a deferred loan through the local funds. Families are required to participate in a Homebuyer Education program before they can become eligible for assistance. Two four-hour sessions are provided covering topics related to purchasing and owning a home. An Advisory Board is involved with the program to review staff recommendations concerning families to be assisted. Members of the Advisory Board include representatives of local businesses, program participants and community leaders. Housing Rehabilitation Project The WELCOME H.O.M.E. PROGRAM administers the Housing Rehabilitation Project to (1) assists low- and moderate-income homeowners obtain resources for housing rehabilitation and (2) provide construction vocational training projects for the Help Inc. Foundation’s YouthBuild Program. The Housing Rehabilitation Project helps eligible homeowner’s access program and financing resources to address housing rehabilitation needs. The scope of rehab is based on a housing inspection to determine health and safety needs according to HUD’s Quality Housing Standards. The type of financial assistance available to homeowners is based on income and other factors:
A Contractor was hired to drill a well & installed a pump. Help Inc. Foundation finished installing windows, installing siding, flooring, roofing, plumbing, insulation, sheetrock and paint.  General Contractor hired to coordinate installation of a complete foundation under the existing home, plumbing repair, and replace the heating system. Help Inc. Foundation replaced the roof, completed window & door repair, siding repair and paint, interior paint and replaced part of the flooring.  Contactors hired to completely tear off and replace roofing, exterior paint, repaired existing foundation, insulated, electrical repair and installed gutters. Help Inc. Foundation replaced the damaged siding.  Lease-To-Own Housing Project The WELCOME H.O.M.E. PROGRAM administers the Lease-to-Own Housing Project which enables families to rent a new home with the option to purchase after a compliance period outlined in the individual service plan of the participant. The Help Inc. Foundation has 3 projects located in 3 states. Single-family homes were constructed that range from 1,110-1,200 square feet each. Each home has 1½ baths each. This project helps complete the case management continuum of care process by taking homeless individuals and families into permanent housing and eventually to homeownership. Help Inc. Foundation has struggled to move families from a rental situation to homeownership. Families are referred to the Lease-to Own Housing Project as a stepping-stone to homeownership. An agreement is signed by the participant indicating the areas of compliance to qualify for purchase of the unit. Customers are required to attend support classes concerning maintenance, budgeting and numerous other topics. A portion of each customer’s rent is placed in escrow to provide down payment assistance to either purchase a different home or purchase the existing unit after the compliance period. Participants in the Lease-to-Own Housing Project also qualify for down payment assistance. Applicant must be first-time homebuyers who have not had an ownership interest in their principal residence at anytime during the last there years. Potential homebuyers may purchase existing properties owned by Help Inc. Foundation, which meet the Uniform Housing Codes to insure all health and safety standards are met. This project will provide up to 20% of the purchase price of their home with a maximum of $10,000. Families wishing to participate in this project must be in the 80% income category for their respective county and must be able to secure a first mortgage provided by Help Inc. Foundation. Applicants are required to complete the Homeownership Opportunity Education program that includes the following areas:
148 single-family homes have been constructed and Help Inc. Foundation current housing portfolio consists of 20,000 single-family homes and 5,000 multi-family units throughout the United States. Neighbourhood Revitalization Project The WELCOME H.O.M.E. PROGRAM administers the Neighbourhood Revitalization Project to acquire and rehabilitate older housing stock to rebuild distressed neighbourhoods and expand the availability of safe, decent, affordable and sustainable housing. The Help Inc. Foundation established the Neighbourhood Revitalization Project to rebuild distressed neighbourhoods by acquiring and rehabilitating deteriorated housing. The strategy for the Neighbourhood Revitalization Project is to purchase as many homes as possible on a block-by-block basis to overhaul dilapidated housing conditions and create a positive environment for homeowners and their families. In some instances, condemned properties have been acquired and homes beyond repair have been demolished to enable construction of new homes. Once properties are acquired, Help Inc. Foundation serves as the developer through its YouthBuild Program for rehabilitation and new construction. Lead abatement is a part of renovation work that involves particular attention. The agency adds a 15% developer’s fee to each project to support operational costs. One-on-one pre-purchase counseling occurs to assess the needs of participants through a review of their credit history, debt to income ratio, adequacy and stability of income, and down payment/closing cost resources. Long-term pre-purchase counseling is provided through case management services for those individuals whose housing problems and needs cannot be resolved in 30 days. Low- to moderate-income families are able to purchase the finished homes following completion of six 3-hour session Homebuyer Education workshops. Nine out of ten persons served are under 50% of the median area income. Many have poor credit and/or excessive long-term debt, so three 2-hour session Credit Enhancement workshops are also provided. Residential and Commercial loans are distributed directly from Help Inc. Foundation. This resource assists homebuyers with up to $4,000 toward down payment and closing costs. Help Inc. Foundation started this project by acquiring rehabilitating 25 contiguous homes in a 2-block area of the City of College Park in the State of Georgia. This previously was an area with high crime and drug activity requiring an excessive police presence. Incidents have been dramatically reduced since the renovation work has been completed. Since September 2004, 563 participants in the Homebuyer Workshops have become homeowners.  |
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