Additionally, the City has formed a consortium of all local mortgage lenders and has developed a homeownership initiative. Also, the City took the concept of homeownership as economic empowerment and the principles of the homeownership zone concept and put it in action at a local level with community partners through the neighborhood group, area lenders, builders, and nonprofit development and service organizations. Measures of the performance-based employment program are not yet available at this time. Construction has been started or completed on 12 new homes in the homeownership zone. The mayor was the key person in putting in place the homeownership initiative.
Emphasis begins with placement and includes extensive intervention and mentoring.
The service provider receives payments only as specific outcomes are achieved. Those outcomes include job retention time periods up to 180 days from job placement. For homeownership, a local homeownership zone has been established, with the City providing a lot to builders and downpayment assistance on behalf of homeowners. A consortium of lenders are providing mortgage financing as well as a package of other services such as credit and homeownership counseling.