Sample Application (2 of 2)

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Summary (Please limit response to 500 characters):
	Neighborhood Housing Services of Waco held a "Central Texas Homeownership Expo" in March 2004 to educate consumers on the home buying process.

Detailed Description (Please limit response to 3500 characters):
	Neighborhood Housing Services (NHS) of Waco, established in 1993, is a community development corporation in Waco, Texas made up of local residents, businesses, financial institutions and city officials. The organization strives to revitalize deteriorating neighborhoods and provide affordable housing opportunities to residents within its service area. NHS of Waco offers NeighborWorks® Full-Cycle Lending(SM) services including purchase and rehabilitation lending, pre- and postpurchase counseling, homebuyer education and financial literacy. NHS of Waco is also a certified Community Development Financial Institution by the U.S. Department of the Treasury. NHS of Waco is also one of the largest builders of affordable new homes in the Waco area. The goal of the Homeownership Expo is to educate first-time buyers on the homebuying process and introduce them to industry professionals. The program was meant to attract first-time homebuyers from any income level, in the Central Texas area. NHS modeled the Homeownership Expo after a typical "Home and Garden Show." The event took place over the course of a weekend at the local Fairgrounds. NHS also held a "Preview Party" on Friday evening from 6:30 p.m. until 8:30 p.m. The "Preview Party" was held for exhibitors and other key local supporters. The event provided the exhibitors with extra time to set up their displays and an opportunity to view other booths and socialize with other participants. The preview event included a catered meal and live entertainment. Exhibitors at the event included local builders, lenders, Realtors®, government agencies (including the USDA and the Texas Veterans Land Board), local social service agencies and a variety of product and service vendors. Also present at the event was a free tax preparation booth for families eligible for the Earned Income Tax Credit (EITC) or the Child Tax Credit staffed by AARP volunteers with materials from the Internal Revenue Service. Many exhibitors had registrations and drawings for prizes. Seminars were presented throughout the event on topics such as "How to Purchase a Home with Little or No Money Down" and "Home Buying Programs for Teachers". In addition, "how to" clinics were held on topics such as installing ceramic floor and wall tile. All NHS staff members and several board members participated in the event, networking and counseling with prospective customers. NHS also recruited Spanish-speaking volunteers to help those in need of translation services. NHS provided incentives to attract first-time homebuyers to the event. This included free admission, refreshments and door prizes including a brand new television, a weekend vacation for two (covering hotel and meal expenses) and a microwave oven. The city of Waco also offered a door prize; a playhouse along with installation.

Projected Annual Operating Cost (Please limit response to 1000 characters):
	The cost of hosting the exposition was approximately $25,000. The advertising campaign cost about $14,000, while food and refreshments cost approximately $3,000. The remaining costs included table, chair and space rentals, and the production of printed materials. The "Preview Party" cost about $2,000. Staff time for the event was an additional expense. A fee was charged to participants who set up booths at the exposition: nonprofit organizations were charged $100 per booth and for-profit businesses were charged $300. Businesses who wanted to purchase a second booth received a $25 discount and corner booths sold for $375. NHS also recruited sponsors to help fund the event, mainly local lenders and title companies. Sponsors received complementary tickets to the Preview Party (two tickets for every $300 they gave) and their sponsorship was acknowledged on banners, advertisements and in the newsletter. These contributions covered most of the event costs. NHS contributed $5,000 from their general operating fund for the event.

Specific Outcomes or Results in Calender Year 2003 (Please limit response to 1000 characters):
	Almost 3,000 people (over 800 families) attended the Homeownership Expo. Forty-eight exhibitors rented 60 booths at the event. Most exhibitors expressed their willingness to participate in future Homeownership Expos, because the first year was so successful. NHS of Waco used $5,000 from their operating funds to pay for the Expo, but they were able to make up for that cost with the new customers recruited from the event. Fifty people signed up for a credit profile and over 150 families have been enlisted as potential future homeowners through the organization.

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