Education Arts & Community

Number of new owner occupied homes

On Target On Target

23

via City Programs
Result for Q4-17

On Target On Target

Education Arts & Community

Number of new owner occupied homes

On Target On Target

23

via City Programs
Result for Q4-17

Measure Description

This metric measures the sales of housing units to owner-occupants that resulted from financial assistance provided through one of the City's down payment or purchase assistance programs. The annual goal in FY 2017 was to assist 10 households attain homeownership.

Measure Importance

Homeownership rates are a key indicator of neighborhood stability. Statistics and numerous studies show that homeowners, on average, have greater wealth accumulation and income, higher educational attainment and better health indicators than non-homeowners. Neighborhoods with higher homeownership rates have less crime and higher housing values. Therefore, the promotion of homeownership is of vast importance to neighborhood and City stability efforts.

Measure Chart

Explanation of Performance

In FY17, a total of 23 households attained homeownership via assistance from the City's Department of Housing and Community Development (HCD).  HCD administers the Home Purchase Assistance Program, designed to provide down payment and closing cost assistance to eligible applicants to purchase eligible housing units located within the corporate limits of the City of West Palm Beach. In FY17, this program assisted 10 low-income households attain homeownership. Additionally, in 2017, the Department oversaw and facilitated the sale of 13 workforce townhouse units in the Oakton Preserve residential community, which included providing down payment assistance to eligible buyers under a workforce housing initiative.


Status Indicator Definitions
On Target: Meets or exceeds expected performance
Watch: Falls close to expected performance
Below Target: Does not meet expectation; being monitored for improvement
Other Data: Data gathering only, no target

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