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Cobblestone Terrace . Kris Clements John Lewis Community Services Davenport, Iowa. John Lewis Community Services- Developer. Housing Services Supportive Services Community Meal Site Neighborhood Advocacy Movement Supportive Youth Services Community and Housing Development Services.
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Cobblestone Terrace Kris ClementsJohn Lewis Community Services Davenport, IowaCobblestone TerraceJohn Lewis Community Services-Developer
  • Housing Services
  • Supportive Services
  • Community Meal Site
  • Neighborhood Advocacy Movement
  • Supportive Youth Services
  • Community and Housing Development Services
  • Cobblestone TerraceJohn Lewis Community Services
  • Housing Services:
  • Including shelter, transitional, permanent supportive rental units, master lease program, homeownership rehab and loan programs, multi-family rehab program and single family in-fill homes Cobblestone TerraceJohn Lewis Community Services
  • Community and Housing Development Services:
  • A service that includes housing development, construction management, property management services, financial literacy programs, grant writing and research, technology services, and facilitation of collaborative projects in support of the mission of JLCS Cobblestone TerraceCobblestone TerraceSite & Project Description
  • 10 Single Family homes 1200-1450 sq. ft.
  • 2.6 acres
  • Established neighborhood, across from an elementary school and community center
  • No new development in over 40 years
  • Zoned R-4
  • Cobblestone TerraceCobblestone TerraceCobblestone TerraceStreetscapeCobblestone TerraceROSE – Renters to Owners Savings Equity Program
  • Affordable housing targeting working families & Individuals at <40% - 50% AMI
  • $50 of rent per month placed in secured savings program towards home purchase
  • Tenants participate in individualized training towards home ownership skills, budgeting and financial literacy classes, debt and credit counseling, maintenance & repair classes, and ongoing supportive services.
  • Cobblestone TerracePurpose:
  • To create new homeownership opportunities for working, income limited families who desire to achieve the American dream of owning their own home.
  • Cobblestone TerraceMultiple Goals
  • Create Home Ownership Incubator
  • Serve 35 Families
  • Create new buyer pool for local neighborhood
  • Improve local affordable housing stock
  • Cobblestone TerraceIncomes & Unit Rents
  • 40%-4 people <$ 23,200.00
  • 50%-4 people  <$ 29,000.00
  • Actual Rents w/o Utilities
  • 40% AMI 3 Bd. = $407
  • 50% AMI 3 Bd. = $470
  • 50% AMI 4 Bd. = $541
  • (Reviewed Sept 2005)Cobblestone TerraceR.O.S.E. Unique because it brings together organizations representing a broad range of expertise and experience in fields associated with homeownership such as mortgage financing, housing development and real estate, and critical support services.Cobblestone TerracePartners
  • Local banks, mortgage companies
  • Local Community based organizations – John Lewis, United Neighbors, Interfaith Housing,
  • DREAM Program
  • Lead Alliance
  • Iowa Department of Economic Development
  • City of Davenport HOME
  • Cobblestone TerraceLending Partners
  • Mortgage counselors specially trained in affordable lending products and services
  • Down payment assistance available through local programs
  • Mortgage loans (also known as “portfolio” loans) offered as part of efforts to comply with the federal Community Reinvestment Act.
  • Cobblestone TerraceSupportive Services Partners
  • Pre-Purchase Borrower Educationand Counseling
  • Homebuyer education class
  • Consumer credit counseling
  • Homeownership plan
  • Budget preparation and mortgage financing counseling
  • Home Maintenance Skills training
  • Cobblestone TerraceDREAM Program
  • Serves 70-80 Families annually
  • Home Buyers Education Classes
  • Down Payment assistance
  • Rehabilitation/Lead remediation assistance –
  • Up to $24,999 improvements resulting in a 5 year forgivable loan for the cost of the work.Cobblestone TerraceFirst Time Home Buyers & Lead
  • Estimated 4.4% of 1-5 year olds (890,000 children)
  • living in pre-1950 housing
  • rates are highest for 1-2 year old kids
  • 11.2% of black children
  • over 50% of children screened in some inner city communities
  • Cobblestone TerraceLead-Safe Partnerships Provide:
  • Inspectors: Test for the presence of LBP using special equipment
  • Risk Assessors: Test for the presence of LBP hazards and make recommendations
  • Certified contractors: Contractors who have been state certified to perform LBP hazard control
  • Cobblestone TerraceDesired OutcomesProvide Affordable Home Ownership OptionsIncrease Housing AffordabilityIncreased equity in first homeUpgrade Existing HousingAssist 35 families toward homeownershipCobblestone TerraceRecommendations/Issues
  • NIMBY misinformation
  • Year 15 LITCH Unit sale price – to sell or not to sell
  • Rising interest rates
  • Need for Post closing education strategies
  • Cobblestone TerraceContact InformationKris Clements John Lewis Community ServicesDirector of Property Services563-823-0508kclements@jlcs.orgCobblestone Terrace
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