PUBLIC NOTICE
El Paso Collaborative for Community and Economic Development, lead Applicant for a Consortium of nonprofit agencies submitted an Amendment Request to H.U.D. under a Neighborhood Stabilization Program (NSP) award to substitute Consortium Member AYUDA, Inc. for Lower Valley Housing Corporation. The Amendment was approved on August 26, 2010. The total award from H.U.D. was $10,191,000. Funds will be used for acquisition and rehabilitation of foreclosed/abandoned properties in targeted neighborhoods that will be returned to service as homeownership or rental units. The target geography includes specific 22 census tracts with highest concentration of foreclosures throughout the El Paso City/County metroplex. The Consortium will return a total of 125 single-family units to active service. El Paso Collaborative will continue to update information about the NSP on its website: www.ep-collab.org. The public is encouraged to submit comments during the next fifteen days.
5/9/09 In partnership with El Paso Community College, the El Paso Collaborative completed construction of a new Energy Star home using Structured Insulated Panels (SIPS). The home was sold to a very-low income family who received a subsidized mortgage from the U.S. Department of Agriculture-Rural Development Services.
New HUD NSP2 Award
Posted: 2010-02-03 15:41:22
The U.S. Department of Housing & Urban Development has approved a grant award of $10,191,000 to the El Paso Collaborative under the Neighborhood Stabilization Program (NSP2) funded through the American Recovery and Reinvestment Act of 2009 (Recovery Act). The Collaborative will be updating this website shortly and periodically with additional information and opportunities.
New Loan Procedures (effective immediately)
Posted: 2009-12-23 12:06:44
Effective immediately all new loans made by the El Paso Collaborative will require payment by bank draft prior to loan disbursement. If you have any questions, please call our Loan Department at 590-1211.
NSP-2 (en Espanol) Click on "News" for English version
Posted: 2009-08-03 14:46:59
NSP-2 (en Espanol)
Revised NSP 2 Summary
Posted: 2009-07-17 08:11:26
A Consortium of local nonprofit organizations is requesting funding in the amount of $10,191,000 for a Neighborhood Stabilization Program (NSP2) to stabilize neighborhoods in El Paso County, Texas whose viability has been and continues to be damaged by the economic effects of properties that have foreclosed upon and abandoned. The Consortium is comprised of the El Paso Collaborative for Community and Economic Development, Lower Valley Housing Corporation, Habitat for Humanity-El Paso and Project Vida. The Consortium has selected the El Paso Collaborative for Community and Economic Development to serve as lead applicant and fiscal agent.
The goal of the project is to acquire, rehabilitate and return to productive use a minimum of 100 single-family homes in 22 eligible census tracts located inside and outside the city limits of the City of El Paso. Eighty-five of the homes will be returned for use for homeownership and fifteen of the homes will be returned to use as rental properties. The project’s end-users will be households with incomes up to 120% AMFI with a minimum of twenty-five percent of program funds reserved for end users with incomes at or below 50% AMFI. The tenancy selected for this project are homeownership for households with incomes ranging from 51% to 120% AMFI, homeownership for Habitat for Humanity-El Paso homebuyers with incomes at 50% AMFI and rental for remaining households with incomes up to 50% AMFI.
The financing mechanisms selected for this project are: loans to developers for acquisition and rehabilitation; grants to nonprofits for rehab of rental units; grants to nonprofits for Construction Supervision; forgivable and amortizing subsidy assistance to homebuyers.
The Consortium has selected four for-profit partners who will help carry out the NSP2 program. They are Dawco Builders, LLC, Karma-JKS Properties Inc., Wright & Dalbin Architects and Senercon. Dawco and Karma-JKS will join two of the Consortium members in the role of developers that will acquire and rehabilitate the properties and sell them to income-eligible households. Wright & Dalbin will conduct construction cost analysis, provide drawings as necessary and assist with environmentals. Senercon will conduct energy assessments of the selected properties and recommended cost-effective energy and green features to install during the rehabilitation phase that will help reduce energy costs and improve long-term affordability. Another Consortium member, Project Vida will manage the rental units for the first two years and will provide property management training to the Collaborative who will manage the properties afterwards.
Long-term affordability will be built into the program design to assure that NSP2-assisted properties remain affordable for the longest feasible period.
2008 Audit
Posted: 2009-06-25 13:14:33
To assure organizational transparency, the Collaborative has posted its 2008 Audited Financial Statements on the website. Please click on the Audit link on our Home Page.