• Property List as of 07/09/09 ****Appraised values*****    

• Current Map of Phase 2 Properties as of 6/26/09

• Individual Acquisition Offer Form ***New***

• NORA-LCIA Memo of Understanding Phase 2.pdf
  
   noracommittee@lakeviewcivic.org

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Information on Buying NORA Road Home Properties in Lakeview Under Phase Two

Phase Two: NORA (Road Home) Property Sales in
Lakeview
Beyond the Lot Next Door Program
 

Pursuant to a Partnership between
Lakeview Civic Improvement Association and
the New Orleans Redevelopment Authority

For more information on this Phase Two Program:
Email: noracommittee@lakeviewcivic.org
Call and leave a detailed message at: (504) 324-2270

NORA is very appreciative to have the LCIA volunteers assist with answering phone
calls. (NORA is also available for questions 504-658-4400)

     For those interested in purchasing a NORA (Road Home) property in the
Lakeview area currently owned by the State of Louisiana but who may not be eligible
under the City’s Lot Next Door (LND) program, LCIA and NORA are extremely pleased
to announce the start of the Phase Two program. On April 13, 2009, NORA’s Executive
Board approved a Memorandum of Understanding proposed jointly by LCIA and NORA.
This vital agreement between LCIA and NORA paves the way for the sale of NORA
(Road Home) properties outside of the LND program and will serve as the guidelines for
this second phase of property disposition. LCIA’s NORA Committee will host town hall
meetings and a neighborhood fair in the coming months so that we can update interested
purchasers on how the process will work and provide an opportunity for realtors, banks,
builders, architects, etc. to assist potential buyers. This informational handout is designed
to educate citizens as quickly as possible on the Phase Two program. Please review the
following Phase Two requirements to assess your ability to purchase one of these
Lakeview properties at this time:

THIS PROGRAM IS OPEN TO ALL PEOPLE, NOT JUST CURRENT RESIDENTS OF
LAKEVIEW

Purchase Price
• The minimum purchase price for a Phase Two property will be the appraised fair
market value of the property as determined by local independent certified
appraisers hired by NORA.
• The appraised market value of all properties available for sale will be made
publically available on LCIA’s web site as soon as NORA completes the appraisal
process (currently ongoing).
• All structures on properties that are more than 50% damaged and below base
flood elevation will be demolished by the State at their expense. Any remaining
slabs on properties will be removed and all lots will also be filled to grade .
• A limited number of structures that are deemed structurally sound and above base
flood elevation will not be demolished and will be available for purchase and
rehabilitation.
• Appraisals will be based on land value only, if the structure on the property is to
be demolished.
• Demolitions and slab removals will occur prior to closing on that property.
 

Timing
• Offers to purchase will be due late summer as LCIA and NORA will highly
publicize the final offer date deadline once it is established. It is anticipated that
bids will be due around August 1, 2009. Keep in mind that the purchase price
will be the appraised fair market value of the property unless more than one
person is interested in the same property.
• If more than one person is interested in the same property, both parties will be
provided notice and given the opportunity (of at least two weeks) to submit a bid.
The highest bid will prevail except that any purchaser who owns property
adjacent to the NORA (Road Home) property will be given the highest priority.
 

Eligibility Requirements
• If a landowner is eligible under the Lot Next Door Program, that purchaser
maintains priority over any Phase Two interested purchasers in accordance with
the City’s Ordinance. Once such landowner declines the right to acquire the lot
next door through the Lot Next Door Program, it becomes available under Phase
Two.
• A Phase Two purchaser must be willing to begin construction on the property
within twelve (12) months from the date of acquisition of the property, unless the
property purchased is adjacent to a property owned by the purchaser, which is
occupied by purchaser or under construction.
• Purchased property must be used for: (1) owner-occupancy; (2) owner-occupancy
by an immediate family member defined as siblings, parents, and children; or (3)
expansion of neighboring/adjacent property.
• Purchaser must agree to not re-sell the property within three (3) years of
acquisition. If he/she does, the purchaser must pay NORA 25% of the purchase
price of the Phase Two vacant lot unless the purchaser demonstrates exigent
circumstances, such as foreclosure, succession, donation or transfer to immediate
family, or other involuntary transfer.
• Purchaser must maintain the property in accordance with all laws, codes, and
regulations while owning the property.
 

Other Guidelines
• Adjacent property owners (to the left or right) who intend to expand their property
or business will be given the highest priority.
• Purchaser can only buy one NORA (Road Home) property in Lakeview during
this Phase except that a purchaser may purchase two such properties if the NORA
(Road Home) properties are adjacent to one another for the purposes of
combining properties and building a single home.
 

      Additional information will be made readily available at future meetings. For
now, all interested buyers are encouraged to review the current list of NORA (Road
Home) properties in the Lakeview area by visiting www.lakeviewcivic.org and/or
www.noraworks.org. This information will be updated in the coming weeks.
 

If you are interested in a particular property and believe that you can comply with the
above guidelines, please complete the form below and fax it to (504) 799-1954.
Representatives from LCIA and/or NORA will contact you to discuss the process. If you
have previously faxed or emailed LCIA this information, there is no need to resend this
data as such information has been carefully tracked. Feel free to email the form or any
other questions to noracommittee@lakeviewcivic.org . LCIA looks forward to providing
all interested buyers with additional information on this exciting development as soon as
possible so that we can further rebuild our neighborhood.
 

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http://www.wwltv.com/topstories/stories/wwl061009cblotnextdoor.6b284725.html

New program helps homebuyers land Lakeview properties

07:35 AM CDT on Thursday, June 11, 2009

Susan Edwards / Eyewitness News sedwards@wwltv.com

NEW ORLEANS – There is a new program designed to rid Lakeview of blighted properties and help fast track their recovery.

Ask residents in Lakeview, and they will tell you they are on the road to recovery, but still have a few minor bumps to overcome along the way.

"When people ride by and see vacant lots, it's natural to be skeptical about a community," said Todd Wallace, NORA property committee chairman for the Lakeview Civic Association.

There are about 500 state-owned, Road Home properties in Lakeview, meaning hundreds of abandoned homes and empty lots. And while some of that land is being sold through the Lot Next Door program, about half of it sits stagnant.

Now, a new project, the Phase Two program, gives more people an opportunity to buy in Lakeview, regardless of where they live.

"For someone who doesn't have homestead exemptions, who didn't qualify for the Lot Next Door program, this is the program designed to bring families back who are ready to build, or expand yards, and it's open to anyone," said Wallace.

About 250 properties are identified as qualifying for the Phase Two program, with the express purpose of moving vacant properties fast to help Lakeview come back. Residents, like Janet Phillpott, who, until now, has not had the ability or the opportunity to come home.

"This will permit people to come back. Not developers. It'll permit people to buy a lot," she said. "It will permit the people that need a little help because they have been wiped out financially."

There are some criteria that must be met for the Phase Two Program:

-- The program is strictly for single-lot purchases.

-- The owner must start building within one year of buying the property.

-- The buyer, or an immediate family member must live there themselves.

-- The Phase Two property can also be purchased for expansion of neighboring or adjacent property.

-- The buyer must agree not to re-sell the property within three years.

"We want pepole to drive through Lakeview and see that these lots and houses are no longer there, that these are now beautiful new homes, or beautiful landscaped yards with adjacent land," said Wallace.

All of the properties will be independently appraised at fair market value by the end of June. Interested buyers must submit bids by Aug. 1.

Click here for a list of the properties that qualify for the Phase Two program, and for more information on how to bid, and all of the criteria that must be met.

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Previous Nora Committee Updates