The Delmar Tax Relief Fund Will Combat Anti-Displacement of Residents and Homeowners in Revitalizing Neighborhoods Along the Delmar Divide
FOR IMMEDIATE RELEASE: As we have seen in many urban neighborhoods around the country, a revitalizing moment of communities historically occupied by African Americans and people of color. This is also true about the Delmar Corridor. One of the key strategies to Bridging the Delmar Divide is to utilize the Strength of the Central West End as a financial and economic development anchor/bridge to increase housing values and spur revitalization in communities North of Delmar. The Delmar Corridor and the neighborhoods on its Northern side have been experiencing a resurgence in both their commercial and residential activities and as a result, there has been a large increase in private investments and developments in the past five years. With these neighborhoods under tremendous growth pressure, the conditions for displacements are present. Additionally, the looming eviction and foreclosure crises due to Covid-19 will add to the displacement pressure present. Park Central is on track to provide residents with over a half a million dollars in mortgage and rental assistance to abate displacement through evictions and foreclosures within our footprint in a 10-month period.
To mitigate the impact of displacement, and foster equitable community development, anti-displacement tools and programing must be present within the Central and Delmar Corridor. To address this need, Park Central created The Stay in Place Program (SIPP) a series of anti-displacement resources/tools to assist residents to 1.) Stay in their homes and prevent residents from being displaced by providing residents the resources needed to maintain self-sufficiency. 2.) Allow current residents to participate in the revitalization process of the community through realizing the increase of their property value in their homes without the impact of tax liability detrimental to the resident.
As a tool of the SIPP program, Park Central has developed The Delmar Tax Relief Fund. The fund’s purpose is to assist residents in the Central and Delmar corridor (owner occupied homes) from losing their homes at tax sales due to back taxes and to assist with providing relief to homeowners facing rising property tax due to gentrification and drastic increases in property value, as well as to assist residents impacted by Covid-19 from becoming delinquent in property taxes. Currently there is an estimated 315 single family homeowners in the neighborhoods directly North of Delmar delinquent in property taxes.
The Fund is scheduled to open its Pilot Funding Round of $50,000 for assistance to homeowners on June 15, 2021. The Fund was established in Partnership with technical assistance from 26th Ward Alderwoman Shameem Clark-Hubbard and funding from Park Central Development, private donors, and Carrollton Bank.
Academy/Sherman Park, Fountain Park/Lewis Place, West End, Vandeventer, and the Forest Park Southeast Neighborhoods
The program will focus on residents earning at or below 150% Area Median Income with a focus on seniors.
To partner in this endeavor or for any questions regarding the fund please contact Abdul Abdullah, Executive Director by email (email@example.com) or via phone at 314-627-1405.