Our Next Chapter: Strategic Plan
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Since our founding in 2012, Legacies of Success has empowered eleven North Hill families to achieve first-time homeownership. It has truly been a privilege to help provide a safe, affordable, and quality place for them to call home.
As we look forward to our next season of ministry, Legacies of Success desires to continue to fulfill our mission of showing Christ's love by improving housing in North Hill in response to the current housing needs present in our neighborhood. To deepen our impact, Legacies of Success plans to acquire 25 additional properties in our target area by the year 2035 to provide greater access to affordable homeownership and quality, affordable rental housing in North Hill. We are truly excited to see how God will use this next chapter of ministry for the well-being of our North Hill neighbors (Jeremiah 29:7) and for His glory. |
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WHY RENTAL HOUSING?
1. Growing Need in North Hill
The majority of our North Hill neighbors are renters, with many living in properties owned by absentee landlords who fail to maintain their properties while still charging high rent. This takes a toll on families.
Financially, 48% of North Hill renters are “cost burdened”, meaning they spend more than 30% of their monthly household income on rent. This reality creates stress for families about being able to make ends meet and also makes it challenging to save money towards a future down-payment. Additionally, the difficulty of living in substandard housing has many documented physical and psychological impacts, especially for children.
2. Supports North Hill Homeowners
We all know the importance of having "good neighbors".
Unfortunately, several of our homeowners have endured difficult conditions due to living next to mismanaged rental properties. They have had to deal with disputes over overgrown trees and broken property fences, frequent visits by the Akron police, and ever-changing neighbors that destabilizes their block.
3. Promotes Neighborhood Stability
64% of rentals in our target area are owned by individuals/organizations who live outside of Akron.
The disconnect between these out-of-town property owners and their tenants often leads to disputes, higher eviction rates, and more tenant turnover than with local landlords. This also leads to many families who rent feeling disconnected from our neighborhood because of the uncertainty of whether they will be able to remain in North Hill. This only contributes to neighborhood instability that affects all of our neighbors - renters and homeowners.
The majority of our North Hill neighbors are renters, with many living in properties owned by absentee landlords who fail to maintain their properties while still charging high rent. This takes a toll on families.
Financially, 48% of North Hill renters are “cost burdened”, meaning they spend more than 30% of their monthly household income on rent. This reality creates stress for families about being able to make ends meet and also makes it challenging to save money towards a future down-payment. Additionally, the difficulty of living in substandard housing has many documented physical and psychological impacts, especially for children.
2. Supports North Hill Homeowners
We all know the importance of having "good neighbors".
Unfortunately, several of our homeowners have endured difficult conditions due to living next to mismanaged rental properties. They have had to deal with disputes over overgrown trees and broken property fences, frequent visits by the Akron police, and ever-changing neighbors that destabilizes their block.
3. Promotes Neighborhood Stability
64% of rentals in our target area are owned by individuals/organizations who live outside of Akron.
The disconnect between these out-of-town property owners and their tenants often leads to disputes, higher eviction rates, and more tenant turnover than with local landlords. This also leads to many families who rent feeling disconnected from our neighborhood because of the uncertainty of whether they will be able to remain in North Hill. This only contributes to neighborhood instability that affects all of our neighbors - renters and homeowners.
HOW DID WE CHOOSE OUR TARGET AREA?
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We chose our target area based on two primary criteria: deepening LOS' historical impact and countering negative neighborhood housing trends.
1. Deepening LOS' Historical Impact
2. Countering Negative Housing Trends
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HOW CAN I GET INVOLVED?
We need YOUR HELP to make our plan a reality.
1. Financial Support
2. Increased Staff
3. Board of Directors
1. Financial Support
- To achieve our goal will require a multi-million dollar investment over the next 10 years.
- To quick off this strategic plan, we have a goal of raising $250,000 by the end of 2026.
2. Increased Staff
- We are in need of mission-driven staff with skills in administration, property management, and project management.
- Contact Brendan at [email protected] if you are interested in joining our team.
3. Board of Directors
- Legacies of Success is in need of new board members with the following backgrounds: law, real estate, and finance.
- Contact Brendan at [email protected] is you are interested in joining our board of directors.