Urban Renewal BoardMay 16, 2022

Item3b_2022-03-21_OURSA — original pdf

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Office of Urban Redevelopment, San Antonio Urban Renewal Board Meeting 3/21/22 Office of Urban Redevelopment (OUR SA)  Established in 1957 as San Antonio Development Agency  Rebranded to OUR SA in 2010  In 1993, the mission of the Agency was redefined to focus on affordable housing efforts inside Loop 410  In 1995, San Antonio Affordable Housing, Inc. (SAAH) was established by City Ordinance as a 501 (c) (3) non-profit component of OUR SA  Board members of SAAH are either the existing Commissioners of OUR SA or may be appointed by the OUR SA board in accordance with the Corporation’s Bylaws 2 Mission  OUR SA mission: To development and implement strategies to eliminate community slums and blighted areas and also meet the revitalization, redevelopment, rehabilitation and conservation directives as identified by City management and approved by City Council.  SAAH mission: To develop affordable housing, improve the existing affordable housing stock, and combat community deterioration through housing and community development related programs and activities. 3 Projects  REnewSA Housing Program  SAAH/OUR SA Disposition Program  Infill Pilot Program (completed)  Neighborhood Stabilization Program Land Banking Program (completed) (completed)  City of San Antonio Foreclosed Properties in District 2 4 Infill Pilot Program (IPP)  In 2011, the IPP was with a budget of $1.5 million from the General Fund  Vacant lots were acquired by SAAH and sold to builders for the construction of new energy efficient, affordable homes  Construction financing, City fee waivers, grants and discounted lot pricing were provided to the builders to ensure affordability  The Program was completed and the remaining construction funds of $616,000 were reassigned to the REnewSA Affordable Housing Program 5 REnewSA Housing Program  Through SAAH, this program strategically deploys community development tools to create value from vacant through neglected and underutilized properties  Has acquired vacant infill lots to sell to builders for the construction of new energy efficient affordable homes  Similar to the Infill Pilot Program  This program is mentioned int San Antonio Tomorrow, the City’s comprehensive plan 6 SAAH/OUR SA Disposition Program  OUR SA and SAAH had an inventory of 64 vacant lots in 2009 to sell to builders/developer for economic development purposes  In 2009, the Board charged OUR SA staff to dispose of these properties according to the respective funding source restriction  To date, all have been disposed, four remaining properties are remnants or unbuildable 7 Neighborhood Stabilization Program (NSP) Land Banking Program  In 2013, NSP Land Banking was initiated with a budget of $1.25 million in federal HOME funds  SAAH acquired and rehabilitated foreclosed homes in targeted areas for sale to qualified families with incomes below 120% MFI  Properties were acquired from banks, the Department of Housing and Urban Development, FHA, and other lending institutions by SAAH  Any income from a sale wasvgiven back to the program for the acquisition and rehabilitation of additional foreclosed homes  This program has been closed out 8 City of San Antonio Foreclosed Properties in District 2  In 2016, Council approved the sale of 19 City owned foreclosed properties SAAH for the disposition to affordable housing developers  SAAH purchased the properties from the City and paid off any outstanding fees due under foreclosure  SAAH contracted with developers for construction of an affordable home to be sold at or below 120% MFI  This program has been closed out 9 Questions