Working Your Way HOME.

rental-preservation

Rental Preservation

To help provide low and moderate-income families access to quality rental homes within their financial reach, Neighborhood Renaissance, Inc. developed the Working Your Way Home Program.  This program was launched primarily through a partnership with Palm Beach County’s Dept. of Economic Sustainability who provided a $12 million NSP 2 grant for the purchase and substantial rehabilitation of seventy homes in foreclosure. On average, the cost to rehabilitate each home was about $78,000. The single and multi-family properties are located throughout central Palm Beach County (east of Jog Rd., west of the I-95 corridor, north to West Palm Beach city limits and south to the Lake Worth canal).

Property improvements include: roof replacement; impact glass windows and hurricane rated doors throughout; new kitchens and baths; ceramic tile floors; central air conditioning; energy star appliances including washer and dryer; new irrigation system and Florida Friendly landscaping.  All renovations and reconstruction work meets local building codes, HUD standards and includes energy efficiency and hurricane hardening improvements. Upon completion the homes are leased to low and moderate-income working families.

CarolineRibbonCutting

Neighborhood Renaissance president Carl A. Flick and executive director Terri Murray accept a $50,000 donation from Larry Wagner, Community Development Services Third Federal Savings & Loan at the May 7, 2013 ribbon cutting for the Caroline Apartments.

Approximately half of the homes are reserved for occupancy by very low-income families who earn up to 50% of the area median income (AMI), which is $34,350 for a household of four.  The remaining homes are being leased to workingfamilies earning up to 120% AMI, which is $82,440 for a family of four.   Monthly rent cannotexceed 30% of the household’s gross monthly income minus a utility allowance.  Depending upon home size, amenities and household income, rents range from $450 to $1,600 per month.  The program is expected to benefit between 415 to 550 low and moderate-income persons.  An extensive screening process is conducted to ensure that all residents are good neighbors and committed to maintaining their homes and to achieving economic self-sufficiency.  During the screening process a criminal background check is conducted for all adults in the household, rental references are procured from the applicant’s current and immediate past landlords, credit is reviewed, and lastly a site visit the applicant’s existing home is conducted to determine if they have maintained their current residence..