Department of Real Estate & Housing
The mission of the Department of Real Estate and Housing is to improve the quality of life for residents in the City of Wilmington by increasing the supply of affordable housing, improving housing markets and the quality of existing housing stock, promoting self-sufficiency, and engaging in activities to stabilize and revitalize neighborhoods.
Real Estate & Housing is...
The City's 6th smallest department with a total FY 2024 General Fund budget of $2,407,652.
It accounts for 1.3% of the General Fund.
The Department also receives grant funding from the U.S. Department of Housing and Urban Development (HUD). HUD awarded the City a total of $4,066,140 in FY 2024.
About Real Estate & Housing
The Department plans, allocates, and administers Federal, State, and local resources for the benefit of persons of low- and moderate-income and the neighborhoods in which they live, involving residents to the greatest extent feasible in decisions that affect their lives. In carrying out this mission, the Department partners with other City departments, government agencies, the private sector, and other organizations that share its goals.
The Department is committed to developing inclusive programs that address the needs of the City's residential neighborhoods, so that current and future residents receive decent, safe and affordable housing opportunities that are available to current and future residents.
At left is the Village of St. John, a Low-Income Housing Tax Credit (LIHTC) project developed by the Ministry of Caring that offers affordable housing for low-income seniors (ages 62 and older). The Department helped fund the project's construction by allocating $300,000 in Federal grant money received from the Department of Housing & Urban Development's HOME Investment Partnership Program.
FY 2024 Year-to-Date Expenditures by Fund*
*Move the slider at the bottom of the graph to see budget and prior-year data.
FY 2024 Year-to-Date Expenditures by Type*
*Move the slider at the bottom of the graph to see budget and prior-year data.
How Many People Work for Real Estate & Housing?
Federal Funding Levels Over Past 10 Years
Public Service Grants Issued by the Department
Real Estate & Housing Strategic Plan
Citywide Goal: Improve Housing Quality
Objective: Increase the number of permanent housing units available for low/moderate income families/individuals through the development of new quality housing stock and the rehabilitation of existing units.
These efforts are focused on home-ownership opportunities, rental units, or a combination of both. The Department looks to partner with established developers to leverage its funding. It should be noted that given the lead time necessary to move a project from conception to occupancy, success is measured by the commitment of funds to projects.
In tandem with the development of new housing, the Department rehabilitates existing housing units that are currently occupied by low/moderate income residents. This is an effort to assure existing owners that they will be able to maintain their home and will not be pushed out by new development. It is the belief of the Department that in order for a community to grow and thrive, different and varied groups of individuals need to be part of the growth of the City.
Real Estate & Housing Fiscal Year 2024 Annual Budget
Total FY 2024 General Fund Budget: $2,407,652
Total FY 2023 General Fund Budget: $4,228,829
Total Decrease from FY 2023: ($1,821,177)
a
Major Funding Changes from Prior Year:
Personal Services, an account group that includes salaries and benefits, decreased by a net 8.3% or $25,385, largely due to a reallocation of split-funded positions from the General Fund to the Special Funds.
The Materials, Supplies & Equipment (MS&E) account group decreased by $449,865 due to the following:
- 500,000 in funding previously allocated to the Wilmington Neighborhood Conservancy Land Bank was eliminated from the Real Estate and Housing budget.
- Instead, the City will transfer $5.0 million from the Tax Stabilization Reserve to fund the newly created Neighborhood Stabilization Fund (NSF). Of the total $5.0 million, $1.0 million will be allocated to the Land Bank, which was established to acquire, manage, and maintain vacant, abandoned, and foreclosed properties to restore and re-purpose them into productive use.
The following programs are being supported at their usual level:
- $750,000 is allocated for the Clean Team program. This program, now heading into its fifth year, hires local residents to clean streets and neighborhoods, giving them an opportunity to earn money throughout the summer while providing an important benefit for the entire City.
- $50,000 is allocated to the Live Near Your Work initiative, whereby a City of Wilmington employee can earn up to $4,000 in down payment and settlement assistance toward the purchase of a home in the City.
Debt Service decreased by 64.9%, or $1,354,522, per the existing debt service schedule.