HRA reports DPA outcomes; staff propose tighter application rules and add West Side to Inheritance Fund area

HRA staff presented results and recommended guideline changes for the down-payment assistance (DPA) and homeowner rehabilitation programs.

Dean Porter Nelson told commissioners that after an initial interest list of roughly 776 households (created in March 2023) the program had processed applicants through early October and cleared the waitlist. He said 37 households have purchased homes through the DPA program (14 inheritance-fund borrowers and 23 additional borrowers) and five households were actively shopping at the time of the update. Porter Nelson reported demographic breakdowns for recipients: 51% African American, 14% Asian, 8% Hispanic, 24% white, with 15–40% identifying as female head of household. Staff reported an average purchase price just under $234,000 and average household income just under $67,000.

To improve processing, staff recommended requiring lender preapproval and income documentation at application to avoid creating long interest lists. Staff also recommended shortening the house-search window from 6 months to 90 days to match regional practice, with an exception extending to 180 days for Inheritance Fund recipients buying in Rondo or the West Side if they are eligible for the generational-wealth bonus. Porter Nelson noted the mayor’s proposal to extend the Inheritance Fund area to include a West Side planning district; staff said those guideline changes and associated program materials will return for action on December 4.