PRG INC
2017 EAST 38TH STREET, MINNEAPOLIS, MN 55407 www.prginc.org

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Organizations Filed Purposes: PRG COMBINES COMMUNITY-BASED AFFORDABLE HOUSING DEVELOPMENT WITH EDUCATION AND ADVISING TO HELP ALL PEOPLE AND NEIGHBORHOODS THRIVE. WE ACCOMPLISH OUR MISSION BOTH BY DEVELOPING AFFORDABLE HOUSING IN PARTNERSHIP WITH NEIGHBORHOODS AND OTHER GROUPS, AND BY EDUCATING AND ADVISING FIRST-TIME HOMEBUYERS AND HOUSEHOLDS AT RISK OF FORECLOSURE.

REAL ESTATE DEVELOPMENTPRG DEVELOPS AFFORDABLE SINGLE-FAMILY AND MULTI-FAMILY HOUSING IN RESPONSE TO REQUESTS FROM NEIGHBORHOODS, COMMUNITY ORGANIZATIONS, AND SOCIAL SERVICE PROVIDERS. INSTEAD OF TAKING A ONE-SIZE-FITS-ALL APPROACH, WE PLACE A PRIORITY ON SENSITIVITY TO WHAT OUR PARTNER GROUPS WANT AND NEED, AND WE ENGAGE WITH THE COMMUNITY THROUGHOUT THE DEVELOPMENT PROCESS. HISTORICALLY, THIS HAS MEANT CREATING SINGLE-FAMILY HOMES FOR OWNERSHIP AS WELL AS A RANGE OF TYPES OF MULTI-FAMILY AND SUPPORTIVE HOUSING. IN 2019, WE CONTINUED TO ALLOT MOST OF OUR DEVELOPMENT CAPACITY TO REHABBING SINGLE-FAMILY, FORECLOSED HOMES AND CONSTRUCTING NEW SINGLE-FAMILY HOMES.SINGLE FAMILY DEVELOPMENTACQUIRED ONE LENDER- OR CITY-OWNED, SINGLE FAMILY HOME FOR RENOVATION AND RESALE TO LOW- AND MODERATE-INCOME HOUSEHOLDS, BRINGING OUT 10-YEAR TOTAL TO 87. ACQUIRED 6 CITY-OWNED VACANT LOTS FOR NEW CONSTRUCTION, BRINGING OUR 10-YEAR TOTAL NEW CONSTRUCTION TO 28 NEW HOMES. 100% OF SINGLE-FAMILY CONSTRUCTION CONTRACTS AWARDED IN 2019 WENT TO MINORITY-OWNED BUSINESSES. OVER THE PAST 10 YEARS, PRG HAS AWARDED OVER $15.5 MILLION IN SINGLE FAMILY CONSTRUCTION CONTRACTS WITH 97% GOING TO SMALL, MINORITY- AND/OR WOMEN-OWNED BUSINESSES. SOLD 6 HOMES, ALL BUT ONE PURCHASED BY HOUSEHOLDS OF COLOR, AND BRINGING THE 10-YEAR TOTAL TO 105. OF 2019 SALES, 83% WERE HOUSEHOLDS OF COLOR ALL BUYERS HAD INCOMES UNDER 80% AMI WITH THE AVERAGE MEDIAN INCOME AT 55% AMI, INCLUDING ONE HOUSEHOLD OF 10 FROM MINNEAPOLIS PUBLIC HOUSING. MULTI-FAMILY DEVELOPMENTTHERE WAS NO NEW MULTI-FAMILY DEVELOPMENTS IN 2019, HOWEVER 88 VERY LOW-INCOME HOUSEHOLD OCCUPY OUR PREVIOUS DEVELOPMENTS.

HOMEBUYER EDUCATION/COUNSELING AND FINANCIAL COACHINGHELD 18 FIRST-TIME HOME BUYER EDUCATION WORKSHOPS IN NORTH AND SOUTH MINNEAPOLIS, PROVIDING EDUCATION TO 478 HOUSEHOLDS. OF THE 2018 WORKSHOP ATTENDEES, 65% HAD INCOMES UNDER 80% AMI, 39% HAD INCOMES UNDER 50% AMI, AND 75% WERE HOUSEHOLDS OF COLOR. PROVIDED FREE, ONE-ON-ONE, PRE-PURCHASE HOME BUYER ADVISING TO 318 FAMILIES.OF 2019 PARTICIPANTS, 82% HAD INCOMES UNDER 80% AMI, 44% HAD INCOMES UNDER 50% AMI, AND 78% WERE HOUSEHOLDS OF COLOR. OF HOUSEHOLDS OF COLOR PARTICIPATING IN OUR PRE-PURCHASES SERVICES, 47% GO ON TO PURCHASE A HOME WITHIN THREE YEARS. THIS TRANSLATES TO APPROXIMATELY 250 NEW HOMEOWNERS OF COLOR ANNUALLY. NARROWED THE GAP BETWEEN WHITE CLIENTS AND CLIENTS OF COLOR WHO GO ON TO BUY FROM 30% IN 2016 TO 21% IN 2019. ACTIVELY WORKED WITH 24 HOUSEHOLDS FROM MINNEAPOLIS PUBLIC HOUSING TO TRANSITION TO HOME OWNERSHIP, WITH TWO SUCCESSFULLY BECOMING HOMEOWNERS. FORECLOSURE ADVISINGPROVIDED FREE, ONE-ON-ONE, FORECLOSURE PREVENTION ASSISTANCE TO 43 FAMILIES. OF THE CASES RESOLVED IN 2019, 70% AVOIDED FORECLOSURE. OF FORECLOSURE ADVISING CLIENTS, 81% HAD INCOMES UNDER 80% AMI, 65% HAD INCOMES UNDER 50% AMI, AND 40% WERE HOUSEHOLDS OF COLOR.SINCE 2009, PRG HAS PLAYED A CRITICAL ROLE IN AVERTING 665 FORECLOSURES, SAVING NEARLY $52 MILLION IN COSTS TO HOMEOWNERS, LENDERS AND LOCAL GOVERNMENT (SEE HTTP://HOCMN.BLOGSPOT.COM/2013/03/FORECLOSURE-ADVISING-HAS-SAVED.HTML). ADVISED 22 FAMILIES CONSIDERING THEIR REFINANCING OPTIONS.

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