Innovations in Community Development: Rebuilding Neglected Los Angeles Communities
Enterprise Home Ownership Partners was created in 2000 to buy FHA-foreclosed single-family properties from the Department of Housing and Urban Development, rehabilitate and sell them to low- and moderate-income first-time homebuyers in Los Angeles. The program is designed to interrupt the cycle of foreclosures resulting from "flipping" homes. This program is unique among other Asset Control Area programs in the United States, because it was designed and created by a national community development organization, because it is the largest among them and because a unique partnership allows it to bring solar energy to some of the homes. This profile is one in a series entitled Innovations in Community Development, which documents effective community revitalization programs developed by Enterprise Community Partners Foundation and others in partnership with nonprofit organizations, financial institutions, local governments and corporations. It will serve those looking to replicate large-scale programs as well as those researching the industry's leading efforts. It discusses the need, implementation, partners, financing, accomplishments and lessons learned