Education Arts & Community

Number of households that bought homes with purchase assistance

On Target On Target

2

via City Programs
Result for Q4-18

On Target On Target

Education Arts & Community

Number of households that bought homes with purchase assistance

On Target On Target

2

via City Programs
Result for Q4-18

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

Housing & Community Development (HCD) is focusing on increasing homeownership in neighborhoods with very low home ownership rates. The homeownership goals for the City's purchase assistance program were exceeded for the year - with a total of 23 homes purchased citywide! This success is attributed to an increase in program marketing, an increase in the amount of down payment assistance provided to each client, the addition of CRA funding for homes in the Historic Northwest, and an expansion of the program eligibility criteria.

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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