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Posted on: October 17, 2022

City housing study to tailor neighborhood revitalization strategy

FOR IMMEDIATE RELEASE

The City of Springfield will begin a housing-needs assessment and conditions study by the end of the year. It is anticipated that a consultant will be selected in the next month to perform the assessment.  

“This will be a data driven study which will be used to identify citywide and neighborhood focused housing priorities and provide policy alternatives and intervention strategies to guide the City in decision making for future housing needs,” said Brendan Griesemer, assistant director of Planning & Development.  

The assessment will be beneficial to Restore SGF, an initiative to increase home ownership, by providing important data needed to tailor programming to Springfield’s needs, including a detailed assessment of current housing conditions, demographics, market demands, housing gaps and strategies to mitigate these gaps. It will culminate with a written report with detailed recommendations and strategies for a neighborhood revitalization strategy/program and process to select and prioritize neighborhoods and corridors for planning work, resource allocation, plan implementation and progress measurement. 

Restore SGF recently received IRS approval as a 501(c)(3) organization. Its officers are Councilman Richard Ollis, Rusty Worley, Missouri 131st District Rep. Bill Owen and Community Foundation of the Ozarks President Brian Fogle. 

At its July 25 meeting, City Council approved Restore SGF’s $1 million request from the City’s American Rescue Plan Act (ARPA) fund.
 
The ARPA funding, along with a $300,000 allocation from the City’s 2022-2023 fiscal year budget and investments totaling $240,000 disbursed over three years from Community Foundation of the Ozarks and several banking industry partners, will allow Restore SGF to hire staff and begin programming in the second quarter of 2023 with two grant programs – the Block Challenge Program and the Homeowner Improvement Program.
 
These programs are based on proven models in Des Moines, Iowa (Invest DSM) and other cities and will help residents make needed repairs, updates and renovations and improve the curb appeal of their properties, while at the same time encouraging them to engage with their neighbors.
Community Foundation of the Ozarks has pledged $20,000 over five years ($100,000 total) in grant funding for Restore SGF, plus $500,000 for the initiative’s revolving loan fund.
 
OakStar Bank, Commerce Bank, Old Missouri Bank, Great Southern Bank and Legacy Bank have committed $10,000 over three years ($30,000 total) in grant funding, while Central Bank has committed $20,000 over three years ($60,000 total) in grant funding. Great Southern Bank, Legacy Bank and Central Bank have each committed $250,000 for the revolving loan fund.
 
In addition to these commitments, many financial institutions have agreed to commit loan and mortgage dollars to Restore SGF’s targeted neighborhoods.

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For more information, please contact Cora Scott at 417-380-3352 or [email protected]

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