|Dear Restore SGF partner,
We have a lot of great news to share with you.
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 with two grant programs – the Block Challenge Program and the Homeowner Improvement Program.
As you know, 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.We're official! Restore SGF recently received IRS approval as a 501(c)(3) organization. Officers are Councilman Richard Ollis, Rusty Worley, Missouri 131st District Rep. Bill Owen and Community Foundation of the Ozarks President Brian Fogle.Housing studyA City-led housing study, which is anticipated to begin by the end of the year and conclude in 2023, will provide Restore SGF with important data needed to tailor programming to Springfield’s needs.
APD Urban Planning + Management has been selected to perform the housing study. They specialize in neighborhood planning/revitalization with an emphasis on housing. Their services are built around identifying existing strengths and assets and creating a vision and road map for improving the existing housing market and making permanent, high-quality housing achievable for residents.
APD-U’s work in this field includes housing studies, equitable development plans, and community retention strategies. They have numerous clients across the southeast and Midwest, including the City of Chicago, City of Kansas City, City of Oklahoma City and City of Chattanooga, to name a few.
Funding commitmentsCommunity 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, Guaranty Bank, Arvest 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.We want to sincerely thank our partners for their commitments!Pledging support to Restore SGF is a concrete way for financial institutions to show their commitment to Springfield’s low-to-moderate income neighborhoods and help improve the community.
We are making progress, shored up by your support!
Sincerely,The Restore SGF Team