2013 COMMUNITY REPORT HAMPTON REDEVELOPMENT AND HOUSING AUTHORITY
he quality of a neighborhood impacts almost every aspect of a City. Healthy neighborhoods are places where people want to live and invest their time, money, and energy. We invest in neighborhoods because we understand the importance of a good neighborhood image – a good image brings in families, increases homes values, and brings businesses to the area. To improve a neighborhood’s image, we focus on improving the quality of existing housing through rehabilitation and new home construction, through demolition of blighted, vacant homes, as well as vacant lots in targeted areas of the city. We also provided educational programs to
in disrepair. We targeted
potential homebuyers in order to achieve
neighborhoods where most
our goal of creating educated, well-
of the homes were rental
properties, blighted, or in
We focused on improving the quality of existing
disrepair. Once acquired, we rehabilitated the homes,
housing in Hampton’s older, established
turning them into valuable
neighborhoods by offering the following programs to qualified homeowners:
neighborhood assets. The
HOMEOWNER REHABILITATION DEFERRED LOAN PROGRAM
the open market for qualified
Funds provided through the HOME Investment
year, eight homes were
Partnership Program enabled eligible owner-
acquired and rehabbed to
occupants to correct code deficiencies and
add a potential $800,000
make non-luxury improvements to their
to the City tax base.
homes. One of the criteria was for the applicant’s total income to be at or below 80% of the area’s medium income, based on household size, as prescribed by the Department of Housing and Urban Development.
home was then placed on homebuyers. During the
WHEELCHAIR RAMP PROGRAM Funds received from the Community Development Block Grant were used to provide lumber and other materials to low-to-moderate income residents in need of wheelchair access to their
THE PRIMARY OBJECTIVE OF REHABILITATION IS
homes. In addition to providing the
TO AND CONDITION OF EXISITING AFFORDABLE HOMES.
acquired the permits, and coordinated
ENHANCE THE QUALITY
materials, we also designed ramps, volunteer labor for qualified applicants. During the year, two ramps were built totaling $4,785.
During the year, nine homes were rehabilitated totaling $207,118.
ACQUISITION AND REHABILITATION Funds provided through the HOME Investment Partnership Program allowed us to acquire vacant homes 2
EXTERIOR IMPROVEMENT PROGRAM Funds received from the Community Development Block Grant Program were used to provide exterior repairs and improvements to qualified owneroccupants. The maximum deferred loan is $10,000, FALL 2013
which is forgiven over a five year period. During the
improvement. The energy efficiency improvements that
year, one exterior improvement project was
make up weatherization services are long lived, with
completed totaling $9,137.
the savings adding up over time. During the year, six
COMMUNITY HOUSING DEVELOPMENT ORGANIZATIONS (CHDOS) CHDO funds were used to support their affordable housing activities. CHDOs are private, non-profit community based service organizations whose primary purpose is to provide and develop decent affordable
projects were completed expensing a total of $94,993.
WEATHERIZATION SERVICES ARE LONG LIVED, WITH THE SAVINGS ADDING UP OVER TIME.
housing in the community. We work with CHDOs in carrying out their mission. During the year, two programs were supported totaling $70,000.
WEATHERIZATION AND ENERGY EFFICIENCY
NEIGHBORHOOD STABILIZATION PROGRAM Funds received from the program were used to purchase and rehabilitate foreclosed and abandoned homes in
Funds received from the Community Development Block
an effort to stabilize neighborhoods. During the year,
Grant Program were used to provide up to $20,000 in
three homes were purchased, rehabilitated, a
weatherization and energy efficiency improvements
potential $300,000 to the City’s tax base.
to qualified Hampton homeowners. On average, the
The Authority provides education for homebuyers
value of the weatherization improvements to a home
through a series of seminars and workshops involving
is more than two times greater than the cost of the
banks, mortgage corporations and builders.
HAMPTON REDEVELOPMENT & HOUSING AUTHORITY PRIMARY GOVERNMENT & COMPONENT UNITS FOR YEAR ENDING DECEMBER 31, 2012 (UNAUDITED) Statement of Net Assets Cash and Cash Equivalents
Statement of Rev, Exp & Changes in Net Assets $16,991,663 2,169,864
Receivables (Short- and Long-Term)
Gov’t Operating & Capital Grants
Prepaids & Inventories
Capital Assets (Net of Accum Depr)
Total Revenue: Administrative Expenses Tenant Services Expenses
Current Liabilities Non-Current Liabilities Total Liabilities:
Unstricted Net Assets
17,285,315 Total Net Assets:
Insurance & Other Expenses Housing Assistance Payments
Restricted Net Assets
Invested in Cap Assets
Utilities, Maint & Protective Services
COMMUNITY REPORT FROM HRHA
1,416,330 Total Expenses:
Change in Net Assets
21,977,151 33,303,677 (1,197,637)
The goal of the Homebuyer Club was to educate
We created the Entrepreneur’s Club to promote business
participants in all facets of homeownership. Once the
development in Hampton for low-to-moderate income
participants have completed the 12-16 month program
Hampton residents. The program’s goal is to educate
they are eligible to receive up to $10,000 in down
participants through classes and educational activities
payment assistance on a qualified home in Hampton.
designed to promote business development. During
During the year, 14 participants completed the
the program year, one participant completed the
program; one have purchased a home.
program and was ready to start their business and
HOMEBUYER EDUCATION We partnered with banks, mortgage lenders, builders, non-profits, faith-based organizations, and commercial businesses to provide housing counseling, homebuyer schooling, and market available homeownership programs to qualified participants. Homebuyer educational programs are mandatory for potential homebuyers eligible for Virginia Housing Development Authority and federal housing assistance programs. During the year, we held eight seminars attended by 64 prospective homebuyers.
was eligible to receive up to $250 toward qualified business development expenses. The Teenpreneur Club was also formed to introduce an entrepreneurial mind-set and skills to Hampton teens. The program is designed to raise awareness of entrepreneurship as a viable career option, help students develop the attributes and skills associated with successful entrepreneurs, and to motivate students to pursue further study, exploration, and consideration of entrepreneurship. During the year, nine Hampton teens participated in the program.
HAMPTON REDEVELOPMENT AND HOUSING AUTHORITY P.O. BOX 280 HAMPTON, VA 23669