Project Description/Narrative and History
FSEDP's goal is to bring about societal change and meet the needs of traditionally underserved populations by acquiring abandoned homes and providing jobs by renovating them through the skilled trades training program and renting homes to low-income, disadvantaged individuals.
FSEDP was created to help assist struggling parents and single-member families in Detroit who want to raise their children in a home but do not have the income to pay for a mortgage note and/or have the credit worthiness to obtain a loan.
A significant difference exists between raising a child in a home versus an apartment environment. Usually, in a home, you are more at peace with your children because you have more privacy than in an apartment, your children can be influenced more by peer pressure than normal.
Fresh Start Economic Development Project Inc. is a 501(c) 3 that was started in August 2017, based in Detroit, Michigan, by Founder/Owner Mark R. Stephens. The founder is a hands-on director, mentor, and trainer with over 30 years of experience in the construction industry. from aerial to underground and military installation to commercial and residential construction, and FSEDP has built both commercial and residential construction throughout the United States.
The Founder, Mark R Stephens, has 30-plus years of experience in the construction industry to help move the foundation into a successful position. The CEO/President will recruit licensed professionals dedicated to the foundation’s mission and vision.
FSEDP will provide affordable housing options for the underserved population in the greater Detroit area located at Brightmoor 48223, Poletown East 48207, Warrendale 48228, Belmont 48227, and Detroit, Michigan 48238 areas.
FSEDP will obtain abandoned/foreclosed properties through the Detroit Land Bank Authority Housing and Urban Development (HUD) and any banking institution that wants to clear their books of any unmarketable property. FSEDP will make all the necessary improvements for safe housing and livable conditions.
The newly renovated homes will be available as part of a rent-to-own program for economically diverse families, individuals, and veterans.
FSEDP will work with Providence Baptist Church, Detroit Rescue Mission, the Housing Choice Voucher Program, also known as Section 8, and the Department of Veteran’s Affairs in Detroit, Michigan, to target disadvantaged individuals to instill a sense of pride in home ownership to help support positive community growth.
In addition to the housing program, FSEDP will offer an apprenticeship program for disadvantaged, poverty-stricken youth from Wayne County Juvenile Detention Center and administer a summer work program for students between 14-18 years of age from the Detroit Local Public Schools, with this strategy FSEDP hopes to offset any potential misconduct these youth can get with.
Summer work programs are a resourceful way for students whose families are unable to take summer vacations; instead, they can work on skill trade program projects and earn an income, as well as help them learn the responsibilities of becoming an adult.
There are more than 53,000 houses abandoned in Detroit, Michigan, due to several reasons, including racial tensions, the 2008 housing crisis, factory closings, and the 2012 reduction in the fire department budget. (http://homebyfour.com/home-buying/why-are-houses-in-Detroit-abandoned/2012)
Detroit faced several challenges before this crisis, including a shrinking population still spread across a large land mass. In this market, housing supply exceeds the demand, a declining tax base for the city, older housing stock, and old infrastructure. (Author unknown)
FSEDP helping families with a fresh start to revitalize these communities and provide a sense of pride in the neighborhood where Senior Citizens can feel safe.
FSEDP has a unique concept acquire and renovate abandoned homes, thru the process of hiring 49 inner city youth who has gone thru the construction skill trade training program and received their trade accreditation to become independent contractor FSEDP.
FSEDP will help restore these abandoned, unsafe neighborhoods and create jobs over time. This program will create several hundred jobs, and the community being developed again could bring businesses back, creating additional jobs.
This proposal seeks to secure $553,855.00 in new funding to obtain 132 properties in the Detroit Metropolitan area. The funding will be used to obtain and renovate abandoned properties and make homes for disadvantaged individuals and families who desire to own a home but lack the financial resources to make their dreams a reality.
The Foundation will establish a marketing plan, obtain necessary permits, and hire a team of professional licensed electricians, plumbers, and mechanical and roofers to support the foundation’s continued growth.
FSEDP will seek grant funding continually until the Foundation has acquired 132 homes. At that point, it will become self-sufficient from rent collected. FSEDPs will provide newly renovated homes to the renters after seven years of rent payments and maintaining the home.
There will be a ceremonial signing of a Quick Claim Deed, which transfers property ownership from the grantor to the grantee. That will be registered with the City of Detroit, and a copy of the deed will be sent to the new homeowner.