Contract Allows City of Rochester to Address Community Development Strategies to Reflect Local Housing Needs
Washington, DC, October 24, 2007 – Senator Hillary Rodham Clinton today called on the U.S. Department of Housing and Urban Development (HUD) to renew the Asset Control Area Agreement (ACA) for Rochester, New York for an additional two years. In a letter, Senator Clinton urged HUD Office of Single Family Asset Management Director Vance Morris, to renew the City’s ACA contract citing the critical role it plays their efforts to implement community development strategies that reflect local housing needs, including an increase in homeownership.
“We all want to do our part to help our cities and neighborhoods thrive, and the ACA program has been a vital part of Rochester’s efforts to continue the city’s redevelopment and growth,” said Senator Clinton. “In addition to assisting in the stabilization of neighborhoods, these houses are great investments for working families who are first time homeowners. This is why it is important that HUD extend the City of Rochester’s ACA contract for an additional two years.”
The City of Rochester and its non-profit partner, the Rochester Housing Development Fund Corporation, have successfully operated an ACA contract since HUD created the program, with their current contract set to expire at the end of 2007. Under the program, Rochester has made the purchase and renovation of ACA properties a cornerstone of its efforts to address the devastating effect of foreclosures and vacant properties. ACA properties in Rochester are renovated, affordable, and lead safe homes for low income first time homebuyers. The renovated houses not only make terrific investments for Rochester’s new homeowners, they serve to stabilize neighborhoods.
The ACA program is a powerful tool for HUD to quickly move assets from its inventory, while empowering local governments to implement community development strategies that reflect local housing needs including an increase in homeownership.
A copy of the letter to Director Morris is attached –
October 24, 2007
Mr. Vance Morris
Director
Office of Single Family Asset Management
U.S. Department of Housing and Urban Development
Room 9184
451 7th Street, SW
Washington, D.C. 20410
Dear Director Morris:
I am writing to request your assistance in extending the Asset Control Area Agreement (ACA) for Rochester, New York. The City of Rochester and its non-profit partner, the Rochester Housing Development Fund Corporation, have successfully operated an ACA contract since HUD created the program. The current contract will expire at the end of 2007. I fully support the work being done in Rochester through ACA and ask that the contract be extended for two additional years.
Rochester has made the purchase and renovation of ACA properties a cornerstone of its efforts to address the devastating effect of foreclosures and vacant properties. ACA properties in Rochester are renovated, affordable, lead safe homes for low-income, first time homebuyers. The renovated houses not only make terrific investments for Rochester’s new homeowners, they serve to stabilize neighborhoods. Rochester has operated the ACA program for a number of years in designated neighborhoods, making the impact of renovations and sales strong and visible. Through this program and other initiatives, 345 homes have been sold through Home Rochester since 2001.
As you know, HUD has audited the ACA contract in Rochester on an annual basis since it was created. The audits have always demonstrated that the Rochester ACA program is well managed and fiscally sound. The City of Rochester is prepared to continue to provide the project oversight and subsidy required to operate the ACA program. The Rochester Housing Development Fund Corporation has obtained private sector financing for the program in the form of construction financing ($41,000,000 committed since 2000) and mortgages (over $21,000,000).
The ACA program is a powerful tool for HUD to quickly move assets from its inventory, while empowering local governments to implement community development strategies that reflect local housing needs including an increase in homeownership. I urge you to continue the success of this innovative partnership in Rochester, New York by extending the ACA agreement for two additional years.
Thank you for your consideration.
Sincerely yours,
Hillary Rodham Clinton
cc: The Honorable Robert Duffy, Mayor, City of Rochester
Jean A. Lowe, President, Greater Rochester Housing Partnership
