TITLE
1) Recommendation to respectfully request The Long Beach Housing Development Company to consider the following:
a. To allow the funds already allocated for homeowners assistance to include low income applicants.
b. To change the requirements of Long Beach residents only to preferred Long Beach residents. The owner would demonstrate good faith best efforts to attract Long Beach residents.
2) All City resources, with zero net general fund cost, should be utilized to attract new home ownership opportunities in Long Beach which would include but not limited to:
Email Blasts Port Newsletters
Neighborhood Newsletters Heart of the City Program Segment
Community Meetings Weed and Seed Outreach
Section 8 Housing Materials Workforce Development Outreach
Utility Bills and Public Mailers Community Health Worker Outreach
Printed Materials at City Facilities City Website
On Hold Messages City Council Meeting "Crawlers"
Electronic Message Boards Printed Materials at City Facilities
DISCUSSION
Olive Court property requires bold action to bring this development to a successful conclusion. The new ownership has taken aggressive steps to make this project a winwin for the existing homeowners, the City of Long Beach, and new purchasers.
At the request of the LBHDC the new developer has improved the unit finish, enhanced project security, reinitiated full-time sales activity, conducted a marketing campaign, joined the Chamber of Commerce and conducted extensive community outreach. All the while promoting the city's Second Mortgage Assistance Program (SMAP). The developer has spent over $638,000 on making it possible to sell the remaining properties.
Over $252,000 has been spent on upgrading the floor, bath and security of the property. This was done to make the property more attractive to purchase. Over $150,000 has been spent on marketing and promotion.
The Long Beach Development Company has approved a SMAP program for this proper...
Click here for full text