CONSOLIDATED PLAN & STRATEGY 5-YEAR ... - City of Lakeland

With a limited amount of funding available, the City has identified a limited number
of priorities that are attainable with the funds provided in the next five years.
Basis for Determination
The City’s housing stock is older and not well-maintained in the central
neighborhoods where property owners do not have the financial ability to perform
regular maintenance and upkeep. The rates of housing problems among
homeowners with incomes below 80% of AMI were significantly high. Among
extremely low income and very low income owners for elderly, small and large
families, the housing problems ranged from 33% to 75% of that population. The
City has determined that these rates of housing problems would be the focus of its
limited financial resources available to provide affordable housing rehabilitation
assistance to home owners.
A high priority is placed on down payment assist because it affects those households
in the 50% to 120% of AMI range who currently rent, but with some assistance,
could possibly purchase homes and stabilize their housing situations. With the
decreasing purchase price of homes, affordability increases for first time
homebuyers.
Basis for Assigning Priority
The housing priorities were developed by:
• Analyzing the relative needs of LMI families;
• Analyzing the current social, housing, and economic conditions;
• Assessing the resources likely to be available over the next five years, and
• Evaluating input from focus group sessions, service providers, City
Community Development departmental staff, public hearings, and the online
resident survey.
Obstacles to Meeting Underserved Needs
The Neighborhood Services has identified several obstacles that will impede its ability
to address the identified needs in the five-year Plan. These include the following:
• The primary obstacle to meeting underserved needs is the limited financial
resources available to address identified priorities.
• Escalating the impact of limited available funding is the current increase in home
foreclosures in Polk County, increased unemployment, increased homelessness
and risk of homelessness, and need for increased supportive services for the
growing population that is negatively affected by the economy and finds itself
with fewer resources. The City, along with most communities, has even fewer
resources available to address these issues as municipalities themselves face
revenue reductions.
• The condition of the homes continues to deteriorate while waiting to be brought
forward on the list, requiring more funds to be used to bring these homes up to
code.
• New home construction in areas that are considered affordable may be difficult
because of title problems for homeowners; cost of homeowners’ insurance and
taxes. Clients experience the cost of insurance and taxes as an additional
expense for housing and they are unable to afford.
3-5 Year Strategic Plan 29