Executive Summary Goals for the Highlands County Champion Community were: 1) to create a fully serviced industrial park with a building or buildings and market it to industries that will create better than average wage jobs with good benefits. 2) Create safe, affordable housing for low to moderate income families 3) Renovate substandard housing to provide safe, affordable housing for low to moderate income families in Highlands County. 4) Increase the job training programs that are community based, so that they are easily accessible to low income unskilled residents. Industrial Park The Highlands County Industrial Development Authority/Economic Development Commission (IDA/EDC), retained the firm of Gee & Jenson to develop a feasibility study for creation of an industrial park. Once the study was completed, it was presented to the Highlands County Board of County Commissioners with a request that the $100,000 per year for 10 years set aside in the CIP be appropriated for development. Commissioners asked for additional information and a site specific plan before they would consider an appropriation. The IDA/EDC then retained Gee & Jenson to complete site specific feasibility studies for three sites that were selected on the basis of road access, rail access, proximity to sewer and water and low impact to residential areas. The studies will include land and development costs. That work will be completed in 2002. In the meantime, the downturn in the economy and the devastating impact on tourism from the September 11, terrorist act with its concomitant budget shortfalls has made it very unlikely that public dollars will be spent on the development of an industrial park in Highlands County. The completed plans will be held in reserve for better economic times, and the partners in this project will look to other means to accomplish their goals. Housing for low to moderate income families Park Crest Terrace is a 100 unit duplex community designed to meet the needs of large families. Developed on 14.13 acres in the city of Sebring the new duplex community consists of two bedroom, two bath units; three bedroom, two bath units; and four bedroom, two bath units. Attractively placed in one or two story duplex buildings, each unit will have a large refrigerator, range, dishwasher, garbage disposal, pantry and dining room. Each unit will have central air and washer/dryer hookups. The units are spacious with approximately 900 - 1,200 square feet of living space. All of the units will be offered for rental to low and very low income tenants under the Low Income housing Tax Credit and SAIL Programs. Family incomes will range from approximately $10,760 to $30,420 per household, depending on households sizes which will range from 1 to 8 persons, based on HUD Income Limits. Tenants will pay all utilities. Amenities will include a clubhouse, laundry facility, playground/tot lot, half basketball court, picnic area, pool and car care area. The owner of the project is Park Crest, Ltd., a Florida limited partnership. Funding for the development came in the form of 1) Tax Credit of Approximately $760,500 over 10 years, providing an equity of approximately $5.7 million; 2) State Apartment Incentive Loan (SAIL), a 3% interest of $800,000; and 3) conventional construction and permanent loans and deferred fees. Total project costs were approximately $7.5 million. A second development, Park Crest Terrace (Phase II), is a 44 unit duplex community with the same design parameters and income requirements. Project cost for the second phase are 1) Tax Credits of approximately $330,904 over 10 years providing equity of approximately $2.5 million: 2) low interest HOME Loan of $380,000; and 3) conventional construction and permanent loans and deferred fees. Total project costs were approximately $3.4 million. Renovate Substandard Housing Total deposits into the Highlands County Affordable Housing Trust Fund from the State Housing Finance Corporation under the State Housing Improvement Program (SHIP), for 2000-2001 were $893,984. Part of the funds ($534,838), were used for down payment and closing costs for rehabilitation of 68 units and emergency home repair for 20 units. Encumbered funds of $84,366 will cover rehabilitation for an additional 9 units. Unencumbered funds of $230,225 are earmarked for rehabilitation, emergency and non-emergency home repair, and other housing related issues for 24 units. The remainder of the funds are used for administration, foreclosure prevention and down payment and closing costs. Increase Job Training The location of Cross Country Automotive Services to Highlands County brought a new kind of industry to the area. A business services company, Cross Country assists motorists to get back on the road after a break down or accident. The company’s clients include BMW and Chrysler. Working with South Florida Community College a curriculum for customer service representatives was developed and implemented. Training began in July at the college and was subsequently moved to the business location. Cross Country will create approximately 400 jobs. Many of the jobs are entry level, but require certain computer and telephone skills. Such training is available at the One Stop Career Centers. Training continues on a daily basis at the business location.