Causes:
Homeless & Housing,
Homeowners & Tenants Associations,
Housing Development, Construction & Management
Mission: Utilizing the community land trust model of permanent affordability, expand homeownership opportunities for low- and moderate-income families so they can live or remain in the community of their choice. Serve as a leading strategic partner to improve affordability region-wide, with a focus on areas affected by displacement.
Since 1999 Proud Ground has made lasting investments in the financial stability and assets of low-income families by addressing the critical need for more affordable homeownership opportunities–-opening the door to the long-term wealth building, stability, and pride of owning a home.
Proud Ground leverages community investment in every transaction, buying down the purchase price of a home. In exchange for an affordable home, Proud Ground homeowners agree, should they sell, to shared-appreciation resale provisions that provide for a fair return on their investment while ensuring the home remains affordable for the next low-income, first-time homebuyer. The home remains in Proud Ground’s portfolio of affordable homes, and the original subsidy grows as the home appreciates in value.
An ongoing priority is our role in Portland’s campaign to close the minority homeownership gap. Deliberate research and dialogue resulted in an outreach strategy that has increased our service to communities of color.
We are committed to healthy and efficient buildings supporting healthy families. Our materials and systems are carefully chosen to provide durability and support a healthy indoor environment. Projects use Oregon High Performance Homes, Earth Advantage, and LEED for Homes certification processes and guidelines.
Proud Ground serves the entire Portland, OR Metropolitan Region of Clackamas, Multnomah and Washington Counties, OR and Clark County, WA.
Results: As of 12/31/2014:
* 290 new home buyers served
* 230+ permanently affordable homes in portfolio; 20+ homes in housing development pipeline
* $141,000: median sales price in 2014, vs. $285,000 median sales price for a market-rate home in service area
* $127,500: Median resale price of a Proud Ground home
* $34,000/61% MFI: median income of all families served
* 60% of homeowners served in 2014 are households of color
* 352 households on home buyer wait list
* 64% of wait list households from communities of color
** 0 homes lost to foreclosure
Target demographics: Low/moderate-income first-time homebuyers.
Programs: Homebuyer, homeowner & outreach servicescommunity outreach deliberate research and dialogue resulted in an outreach strategy that has increased the organizations service to communities of color and strengthened its role in helping to close the minority homeownership gap. The organization uses a combination of grass roots activities, partnerships, and public relations and marketing strategies in english and spanish to reach underserved communities with information about the organizations homeownership program and home buying opportunities. All outreach activities incorporate culturally-competent materials and methods. Home buyer education and counseling a key component of the organizations programs and services is the intensive, one-on-one education and counseling provided to prospective and active home buyers. Neighborworks certified staff assist households with all aspects of getting ready in pursuit of homeownership; individual coaching and referral topics include debt reduction; improving credit scores; budgeting; and creating a savings plan. Homebuyer criteria all of the organizations homebuyers are required to attend:(1) the organizations free homeownership orientation class;(2) homebuying 101 class, an 8-hour education class provided by a separate, approved organization. These education requirements are in addition to the requirements that homebuyers meet income and other funder-required criteria (e. G. , first-time homebuyer status). Post-purchase, homeowner support to promote homeowner stability and success, the organizations homeowners have access to a variety of resources. Post-support services include the offer of home inspections by project management staff, toward home maintenance recommendations; ida matching grants for approved home repair and maintenance projects and for energy efficiency upgrades; homeowner newsletters and workshops throughout the year; assistance with home loan refinancing and other lender-relation issues. Membership the organization is a membership organization. Membership is open to anyone who lives or works in the greater portland area and donates at least $25 a year; all the organizations homeowners are automatically members. The organization issues three newsletters per year and one annual report to all members, friends, donors, and other supporters. The organization also holds an annual meeting each fall at which members and others in attendance receive an organizational update and elect the board of directors, unless the election is conducted by mail. Resale of homes the organization facilitates the resale of homes on land held in trust to new eligible homeowners. From 1999 to 2014, there have been forty-three (43) such sales (excluding cclt resales, for which adequate records are not available).
acquisition & project developmentnew construction the organization has partnered with commercial and nonprofit developers to design, finance, and construct homes to sell to income-qualified buyers. The organization either owns the land or will receive the title to the land when the improvements are sold to a new homeowner. In 2010, condominiums first entered the organizations portfolio. With condominiums, the organization holds a deed covenant. From 1999 through the end of 2014, proud ground and its partners built 38 single-family residences and 68 residences in multi-family settings that are now occupied by new owners, in addition to rosemont court senior housing (100 rental apartments for seniors with low income), and the rosemont townhomes (18 family rentals). Proud ground does not prioritize pursuing the role of lead developer in new construction projects due to the limited, estimated return on investment. Opportunities for proud ground to serve as lead developer in new construction projects will be thoroughly examined as available to determine project feasibility. Offer home buyers grants with which to go shopping on the open market; the amount of the grant buys down the purchase price of the home. Often the grants come with geographic restrictions and/or require that a portion of the grant be used toward necessary repairs and/or energy efficiency upgrades. All homes purchased with such grants become part of the organizations portfolio of permanently affordable homes, with proud ground receiving title to the land. From 1999 to december 31, 2014, 72 buyer-initiated grants have been administered (including cclt). Acquisition rehab often funds are provided to the llc to purchase and renovate distressed homes. After full renovation, the homes are offered for sale to income-qualified buyers. Since 1999, forty-seven (47) homes have been acquired, renovated and sold through this program.
