Comments Made at Clearwater Neighborhood Housing Services NeighborWorks® Week Event

Ellen Lazar
Executive Director, Neighborhood Reinvestment Corporation

June 12, 2003

Thank you, Don, for that kind introduction.

I am very honored to be here with you today, in sunny Florida, to celebrate the redevelopment of Greenwood Apartments. We are celebrating today as a part of National NeighborWorks Week. Throughout this week, hundreds of NeighborWorks organizations across the country are working with volunteers to plant trees, paint houses, and celebrate their achievements. This partnership project of Clearwater Neighborhood Housing Services exemplifies the value of NeighborWorks organizations across the country.

What strikes me most about this project is the rich diversity of partners involved. As you could tell from all the partners’ remarks speakers this morning, many levels of government were involved: from Pinellas county to the city of Clearwater. And I especially want to mention the significant role of Bank of America, which partnered with CNHS to jump-start this project. It is really remarkable what can happen when we all cooperate and collaborate, and when the appropriate resources and expertise are available. We also want to thank our U.S. Senate, Fannie Mae Foundation and HUD representatives for their remarks in support of this event.

This type of partnership among public entities, private companies and community residents is the foundation on which the NeighborWorks system was built. We call it the “three-legged stool” –- without one of the legs, you’ll fall over. Each partner in this project was crucial to its success.

Let me briefly list ALL those partners:

• Pinellas County Housing Finance Agency Tax Exempt Bonds
  
• Bank of America Housing Fund IIIB Tax Credits
  
• SHIP Loans from the City of Clearwater and Pinellas County
  
• Neighborhood Reinvestment Corp. Grant/Loan
  
• City of Clearwater Brownfields Grant
  
• Bank of America/CNHS Deferred Developer Fee
  
• Bank of America Community Development Corporation Loan

Let's give another round of applause of all of the committed partners for Greenwood Apartments.

As executive director of Neighborhood Reinvestment, the parent of the NeighborWorks system, I am proud to be supporting these partnership efforts.

Created by Congress 25 years ago in 1978, Neighborhood Reinvestment Corporation supports grassroots organizations all across the country struggling to:Build decent, affordable housing;revitalize devastated communities, and
enhance economic opportunities.

Today, the NeighborWorks Network encompasses 225 community development organizations serving more than 2,300 urban, suburban and rural communities. We support these organizations by providing grants, technical assistance, training, organizational oversight, access to a specialized secondary market and peer learning opportunities.

Over these past 25 years, the NeighborWorks system has been in the vanguard of the community development field. We have pioneered advances in developing multifamily housing units, Greenwood Apartments is a wonderful example of this important work.

We have created cutting-edge training programs.

We broke new ground 10 years ago in opening homeownership opportunities to minorities and families of modest means with our Campaign for Home Ownership, of which Clearwater NHS is a member.

In short, the NeighborWorks system has served as a laboratory. We have created and tested many innovative models to meet the often daunting challenges confronting our communities. Through it all -- at the heart of all of our programs and projects -- are resident leaders.

Clearwater NHS is a member of this highly-selective network, and we are proud to support their work. The leadership role of NHS in this project has truly helped this community. It is evidenced by this 14.3-million-dollar partnership investment that has served as a catalyst for the rebirth of this community. Such an investment has also enhanced the overall health of the city of Clearwater and the county. It has increased the tax base and created a desirable community and an improved living environment for the residents.

The redevelopment of Greenwood Apartments is a crowning achievement and a testament to the commitment of Clearwater NHS and Bank of America and other partners. Let me paint a picture for you of this development neighborhood prior to this redevelopment ten years ago.

Built in 1949 by investment in Florida’s robust tourism industry, Greenwood Apartments was run by absentee landlords. Tenants had to rent such standard features as refrigerators, stoves, ceiling fans and air conditioners. (Can you imagine this heat with no air conditioner?) Although the concrete block walls and foundation were solid, Greenwood Apartments had seen virtually no maintenance in 40 years. Therefore, when Clearwater NHS acquired the property, it was riddled with code violations and safety hazards.

Now, take a look at that property! What a long way Greenwood Apartments has come!

Thanks to the dedicated work of the Clearwater NHS and their partners, Greenwood Apartments has filled a critical need in the community. Decent, safe affordable housing in an area where 63% of residents have low to moderate incomes. Now, the property consists of 192 two- and three- bedroom apartments with modern amenities for families with incomes from 35% or less, up to 150% of median income.

The Clearwater NHS is providing an array of services to the residents. Across the street, stands a Make a Difference Center – thanks to Bank of America for this concept. This center will includes a playground, computer lab, library, kitchen, restrooms, and laundry and leasing office. Some of the services available to the residents will include: financial literary education, homebuyer counseling, home maintenance workshops, after-school care for children, plus more…

Projects like Greenwood Apartments serve as catalysts for revitalization. All across the country, I have seen neighborhoods in turmoil and decline. From East St. Louis to Native American reservations, blighted communities are in grave need of investment. Often small-scale efforts are introduced, but do not stimulate the important ripple effect of investment. A substantial multifamily development, like Greenwood Apartments, fuels a wave of positive change.

It is visible that the Clearwater NHS has sparked a fire of activity in the neighborhood through the development of new construction and economic development assistance, along with this partnership project.

Take a look at the multi-million dollar library and recreation center across the street. In addition, the re-paved and enhanced streets show that many dollars have been spent in capital improvements, all thanks to the City of Clearwater. And, most recently, the NHS has acquired a property next-door to Greenwood Apartments, which they will plan to redevelop from a bar to a Head Start center and ice cream parlor, and other commercial space! Truly, the redevelopment of GreenwoodApartments has created a whole that is greater than the sum of its parts.

This project is a very deserving recipient of the prestigious recognition, given by the Fannie Mae Foundation through its Maxwell Award of Excellence. Congratulations, Peter, on an excellent choice!

The Greenwood neighborhood is a much brighter, healthier community, thanks to the work of Clearwater NHS and its partners. I would like single out one special person in these efforts. That person is Isay Gulley, the executive director of the NHS. Isay, your perseverance, insight and relationships made this development blossom. You have made such a tangible difference to so many families. I’d like to thank you for all the good work you’ve done and continue to do.

I am proud that Neighborhood Reinvestment supported this project, through grants and technical assistance of our Southern District. A special thanks to Don Phoenix, the Southern district director, and Mandala Jones, Clearwater NHS’s liaison.

Again, thank you for inviting me to join you in this celebration.