In Oklahoma County we have an opportunity to increase home ownership, foster urban revitalization, and directly benefit our public school systems by placing homes on vacant lots, where only dreams currently exist. Our Metropolitan inner city is the heart to our County's body, and our County must do its part to keep our heart healthy.

Through cooperation of fellow Oklahoma County Commissioners and County Officials, the County's Home Finance Authority, and other local stakeholders, Oklahoma County has an unprecedented opportunity to make a significant positive impact in our urban core. This opportunity exists at a time of declining home ownership rates within Oklahoma County (60.4%) compared to State and National home ownership rates of 68.4% and 66.2%, respectively. What's even worse, many of the Oklahoma County's inner core arrears are experiencing significantly higher declining rates of home ownership and home values. This troubling trend will only get worse unless we begin to tackle the problem head on.

Commissioner Roth, along with his other elected County Officials is committed to finding a solution to affordable quality home ownership in Oklahoma County. Currently Oklahoma County has two programs available to address these needs.

THE PROBLEM - Oklahoma County is facing many challenges in home ownership that have been years in the making. According to census data from 1980 through 2000, home ownership with Oklahoma County has dropped 5% within 20 years. Aside from fewer Oklahoma County residents realizing the American dream of home ownership, these troubling statistics also have direct consequences on inner city economic growth, which in turn, has devastating effects on many levels, including our public educational system. While most people may realize that home ownership and home activity generate property taxes, it is less known that, out of every property tax dollar, nearly $0.70 is dedicated to local education. Therefore, it would seem that declining home ownership rates and values within our County has only worsened the overall hardships that trouble our schools today. In addition, private sector development seems to have forsaken these areas for greater opportunities in the outskirts of our metro area. A public solution, with our public finance opportunities, may be the most viable alternative to turn this decline around.

THE PROGRAM - C.U.R.E., County Urban Revitalization Effort, will create affordable single family housing for 'first time home buyer' individuals and families who purchase in targeted will allow this to happen by:

1. Utilizing existing County-owned parcels of land, that have reverted to public property due to unpaid taxes, that we taxpayers currently pay to maintain.
2. Coordinating efforts with the carpenters and other skilled trade unions for use of apprentice labor and/or reduced wage agreements to lower construction cost.
3. Finding low-interest capital for construction loan proposes such as community housing development organizations (CHDOS).
4. Partnering potentially, with other public or private organization or leaders dedicated to similar housing goals and buyer demand in the needed areas.
5. Selling the new homes, to eligible, qualified buyers, using County bond mortgages, with their unique down payment and closing cost assistance, currently with of 6%.

THE POSSIBILITIES - While there are many wonderful efforts underway in our inner city areas, such as Habitat for Humanity, the CHDO's and other organizations, the declining effects in many neighborhoods are out-pacing these efforts. Through C.U.R.E., we would tackle particular areas and develop hundreds of houses over coming years, thereby creating our own 'comparables' (comps) for lending purposes. This is of particular importance as traditional home construction and mortgage lending do not seem able to make the number work, so to speak. We could attract first-time home buyers to an equity-building investment and increase the chance they will call Oklahoma County home. Through C.U.R.E., we will target neighborhoods where the vacant parcels are adjoining and/or relatively close to each other, to keep construction costs contained. We would relieve our citizens of the current costs to mow and maintain these County-owned vacant lots (currently 1800+ parcels) and turn them into investments in the tax base of this County. We would lower public construction costs through agreements with various skilled trade unions and simultaneously help them train and retain these hardworking men and women. All of these ideas are designated to help shrink the 'gap' that exists between homes would mean new hope for many areas on the decline.

As you can see, there are many moving parts to this Initiative and the problem it is designated to address. If it were to be easy to solve this problem then it would probably have been done already. However, to keep our County, and it inner city areas, moving forward, we must reinvigorate our efforts and CURE what ails our Heart. Its time our County stepped up to home plate.