Agenda - 10-13-2009 - Joint Meeting with Housing

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Item III Process outcomes are summarized in the table below: Activity Number of People or Hours Outreach 426 people Initial Contact 248 people Applications Mailed 54 Applications Received 33 Intake Sessions 25 people Enrolled 8 Group Financial Literacy 13 classes; 26 hours Individual Credit Reporting and Counseling 25 people Group Homeownership Education 9 classes; 72 hours Individual Housing Counseling 25 people # Homes Purchased 4 # Enrollees Withdrawn 4 Those individuals who came in for an intake session or who were screened via telephone, but were found to be ineligible to participate in the program were referred to The Women's Center's financial counseling program or to Triangle Family Services for debt management plans or bankruptcy counseling. Prospective clients were informed that they would be able to resubmit their application if they later met the criteria for enrollment. Upon being accepted into the program, enrollees were required to: • open a restricted savings account with $100 • commit to a minimum monthly savings of $50 • save $1,000 over 6 to 18 months • complete 8 hours of homebuyer education classes and 10 hours of financial literacy classes • complete individual and housing counseling sessions A total of 4 participants purchased homes for the grant cycle 2006 to 2009. The total amount of assets purchased was $592,500 and $8,000 in matching funds were provided. Two homes were purchased through Orange County Habitat for Humanity, one through the Community Home Trust, and one through EmPOWERment, Inc. The four homes were purchased throughout Orange County, with one purchase each in Chapel Hill, Hillsborough, Carrboro and Mebane. Toward the end of the grant, the remaining 4 participants withdrew from the program for the following reasons: • Decreased income due to marital separation • Decreased income due to medical disability 4