Implementation:

Neighborhood Revitalization – Restore SGF

Restore SGF is a local initiative that aims to encourage reinvestment and homeownership in Springfield’s northside historic neighborhoods. It provides a central resource point for all residential incentives and loan programs offered by the City of Springfield. In collaboration with real estate and banking institutions, Restore SGF also markets available programs and provides affordable financing opportunities. The City should continue to support this initiative as a major player in neighborhood revitalization, connecting residents, neighborhood associations, and other relevant stakeholders with available resources. One example of the successful implementation of a program like this is in Des Moines, Iowa. Invest DSM is a non-profit organization created in in 2018 to improve property values and quality of life in the area’s neighborhoods.

Summary of Recommendations

Chapter 7 – Housing & Neighborhoods

  • Goal 1. Support the Creation of Complete Neighborhoods
    • (1.1) Create and Expand Neighborhood Amenities
    • (1.2) Foster Walkable Neighborhoods
    • (1.3) Beautify Neighborhoods
  • Goal 2. Diversify Housing Choices
    • (2.1) Support Context-Sensitive Higher Density Development
    • (2.2) Encourage Creative Housing Solutions
    • (2.3) Create Attainable, Market-rate Housing
  • Goal 3. Revitalize Springfield’s Neighborhoods
    • (3.1) Reinvest in Existing Homes
    • (3.2) Expanding Housing Programs
    • (3.3) Target Resources Where Most Needed
    • (3.4) Provide Healthy Accessible Housing
    • (3.5) Champion Safe, Healthy, Livable Housing and Neighborhoods
  • Goal 4.  Cultivate Neighborhood Identity and Cohesion
    • (4.1) Strengthen Identity Through Neighborhood Organization
    • (4.2) Continue the Process of Proactive Neighborhood Planning
    • (4.3) Encourage Neighborhood Civic Involvement
    • (4.4) Build Strong Relationships with Neighborhood Schools and Universities
    • (4.5) Preserve Historic Resources

Chapter 8 – Economic Development

  • Goal 4.  Support Business Growth and Reinvestment in Neighborhood Commercial Hubs and Downtown
    • (4.1) Support Local Commercial Hubs
  • Goal 5.  Support Innovation, entrepreneurship, and Workforce Development
    • (5.1) Neighborhoods as Economic Engines

Status

  • Local banks and Loan companies have pledged almost $2million to help encourage homeownership among Springfield residents and enhance the quality of homes in the city.