Wilmington Housing Partnership

The RISE Program

The Residential Improvement & Stabilization Effort – RISE
In years past, the City of Wilmington ‘s housing and community development programs have focused on efforts to improve the most deteriorated areas of the City which required significant public funds generating little private investment interest. Little attention had been focused on other areas of the City which exhibit some symptoms of decline, but which also still have a viable housing stock and a high level of owner occupancy-these areas became known as the “At-Risk” areas of the City. The health of the City of Wilmington depends on the strengths of these neighborhoods.

In 2001, the Wilmington Housing Partnership, working with the City of Wilmington and local non-profit groups, developed a neighborhood classification system, based on neighborhood conditions. Areas were classified as “Stable”, “At-Risk”, or “Redevelopment”. In late 2005, the Wilmington Housing Partnership in conjunction with the City of Wilmington worked with the research firm of Kise, Straw and, Kolodner to re-evaluate the housing stock in the City re-defining “At Risk” boundaries. WHP has focused our attention on halting further deterioration in these “At Risk” neighborhoods by leveraging private, state, and federal funds while encouraging private market reinvestment. As a result of our focus on these communities, the Residential Improvement and Stabilization Effort (RISE) initiative was born.

RISE GOALS
Fiscal Year 2004 to 2009

Work in six designated RISE areas.
Raise $10,000,000 for work in these areas.
Create a minimum of a 210 new and renovated homes for homeownership.
Collaborate with capable, experienced local non-profit housing organizations.
Develop projects which complement/support other RISE projects and City projects.
Simulate private investment in RISE areas.
Conduct bi-annual RFP’s and other application methods, as appropriate, for the City of Wilmington's Federal CDBG and HOME funds.

RISE Results
Fiscal Year 2004 to 2009

Raised $10,009,000 in funding
Committed $9,209,016 to the 239 units.
Leveraged $28,680,100 in mortgage financing.
Awarded $2,378,000 in Federal CDBG & HOME Funds to partners for acquisition and rehab.
Continued working with private and non-profit housing partners.
Funded $874,680 to partners building in Flood Plains.
Had 239 affordable RISE units in various forms of production at the end of FY’09, up 46 from last year: 128 sold, 10 under contract, 21 on the market, 91 in production, and 20 in planning/approval stages.

RISE Goals
Fiscal Year 2010 to 2013

A fundraising goal of $7,500,000.
Create a minimum of 150 new and renovated homes for homeownership in the six RISE areas.
Collaborate with capable, experienced local non-profit housing organizations.
Conduct RFPs and other application methods, as appropriate, for funding distribution.
Develop projects which complement/support other RISE projects and City projects.
Stimulate private investment in RISE areas.