The LOREDC Housing Study Is Underway
As we discussed in our December blog, the Lake of the Ozarks Regional Economic Development Council (LOREDC) is conducting a Lake of the Ozarks Area Housing Study. It is our hope and desire than an effective housing study would assist local government, builders, developers, lending institutions and other interested parties solve the housing concerns of the Lake of the Ozarks region.
The following scene is all too familiar for local business owners: an employee lives in a community 30 miles or more away from the Lake because they can't find quality and affordable housing near their job. Eventually that person finds a job closer to their home, leaves the Lake area and thereby forces that small-business owner to raise additional capital to retrain a new employee only to see this chain of events repeat over and over. Small business owners, as well as many people who work in these businesses could see this housing issue become a distant memory if LOREDC achieves its goal of an effective and useful housing study.
LOREDC has initially committed $10,000 towards the overall cost of this housing study (preliminary estimate under $40,000). They are hoping that area businesses, such as real estate, banks, developers and other concerned parties also see the need and assist in funding a portion of the study that exceeds the LOREDC earmarked amount. Once the study is completed, it is hoped that the housing study will provide a roadmap for local governments, developers, builders, real estate companies and local lending institutions to aid in the development of needed housing projects that will enhance the Lake region.
Come participate in the Lake Regional Housing Assessment! Join the planning team at one of five open sessions that will be held around the region in April. At these sessions, you will be invited to share your ideas, concerns and issues regarding housing in the region.
You can also help with the study by taking this short survey:
https://www.surveymonkey.com/r/LOREDC
Here's a little more information on housing plans:
What is a housing plan? A housing study or plan is a document focused on the LOREDC region's housing supply. It addresses historic trends, the current condition of housing changes in the real estate market, indexes how affordable housing is in the region and projects demand for future housing across a range of types and price points. After analyzing this data, the plan makes specific policy and program recommendations that the cities and counties can implement to address issues and challenges facing the housing market.
Why is a plan needed? Communities across Missouri are experiencing change. Increasing growth and development pressure can strain local resources, inconvenience residents and present a challenge to housing affordability. No growth or slow growth in a housing market can also bring problems, including stagnant or declining tax revenues and deteriorating and substandard housing. A housing plan is intended to give policy makers and housing developers a guidebook and a tool kit to ensure a healthy and functioning housing market that offers opportunities for safe affordable housing to all residents.
How is the plan implemented? Once completed, housing plans can be implemented through several interlocking means. Of course, the cities and counties have a role in guiding land use and ensuring safe construction and habitable residential structures. Frequently, a local housing authority or non-profit organization will contribute their knowledge and skills in developing housing for those of the most modest means. Finally, in almost all cases, the policies and recommendations in a housing study will be designed to create a private market response to housing need as well. The document, by taking a holistic look at the regional housing market, invited a broad-based response to improving the overall housing quality and market health.
For more information on the housing study, check out the Housing Study Prospectus on our website.
The Lake of the Ozarks Regional Economic Development Council (LOREDC) was formed to promote a regional approach to marketing the Lake Area to those interested in relocating their business to the area. LOREDC consists of communities and businesses within Camden, Miller and Morgan counties. It is the non-government and private organization for the Lake's economic development and recruitment efforts. It provides services that include site and facility tours, research, financing, customized proposals to new lake businesses, regulatory agency assistance, government liaison services, workforce training and business advocacy.
Business Owners' Issues
The following scene is all too familiar for local business owners: an employee lives in a community 30 miles or more away from the Lake because they can't find quality and affordable housing near their job. Eventually that person finds a job closer to their home, leaves the Lake area and thereby forces that small-business owner to raise additional capital to retrain a new employee only to see this chain of events repeat over and over. Small business owners, as well as many people who work in these businesses could see this housing issue become a distant memory if LOREDC achieves its goal of an effective and useful housing study.
Funding the Housing Study
LOREDC has initially committed $10,000 towards the overall cost of this housing study (preliminary estimate under $40,000). They are hoping that area businesses, such as real estate, banks, developers and other concerned parties also see the need and assist in funding a portion of the study that exceeds the LOREDC earmarked amount. Once the study is completed, it is hoped that the housing study will provide a roadmap for local governments, developers, builders, real estate companies and local lending institutions to aid in the development of needed housing projects that will enhance the Lake region.
Lake Regional Housing Assessment Public Meetings
Come participate in the Lake Regional Housing Assessment! Join the planning team at one of five open sessions that will be held around the region in April. At these sessions, you will be invited to share your ideas, concerns and issues regarding housing in the region.
- April 5 at 8:00 AM - Versailles Court House Sims Room
- April 5 at Noon - Eldon Community Center
- April 5 at 5:30 PM - Camdenton City Hall
- April 6 at 8:00 AM - Lake Ozark City Hall
- April 6 at Noon - Osage Beach City Hall
You can also help with the study by taking this short survey:
https://www.surveymonkey.com/r/LOREDC
The Housing Plan
Here's a little more information on housing plans:
What is a housing plan? A housing study or plan is a document focused on the LOREDC region's housing supply. It addresses historic trends, the current condition of housing changes in the real estate market, indexes how affordable housing is in the region and projects demand for future housing across a range of types and price points. After analyzing this data, the plan makes specific policy and program recommendations that the cities and counties can implement to address issues and challenges facing the housing market.
Why is a plan needed? Communities across Missouri are experiencing change. Increasing growth and development pressure can strain local resources, inconvenience residents and present a challenge to housing affordability. No growth or slow growth in a housing market can also bring problems, including stagnant or declining tax revenues and deteriorating and substandard housing. A housing plan is intended to give policy makers and housing developers a guidebook and a tool kit to ensure a healthy and functioning housing market that offers opportunities for safe affordable housing to all residents.How is the plan implemented? Once completed, housing plans can be implemented through several interlocking means. Of course, the cities and counties have a role in guiding land use and ensuring safe construction and habitable residential structures. Frequently, a local housing authority or non-profit organization will contribute their knowledge and skills in developing housing for those of the most modest means. Finally, in almost all cases, the policies and recommendations in a housing study will be designed to create a private market response to housing need as well. The document, by taking a holistic look at the regional housing market, invited a broad-based response to improving the overall housing quality and market health.
For more information on the housing study, check out the Housing Study Prospectus on our website.
About LOREDC
The Lake of the Ozarks Regional Economic Development Council (LOREDC) was formed to promote a regional approach to marketing the Lake Area to those interested in relocating their business to the area. LOREDC consists of communities and businesses within Camden, Miller and Morgan counties. It is the non-government and private organization for the Lake's economic development and recruitment efforts. It provides services that include site and facility tours, research, financing, customized proposals to new lake businesses, regulatory agency assistance, government liaison services, workforce training and business advocacy.
Please subscribe to our blog and enjoy!
1000 City Parkway
Osage Beach, MO 65065
573-569-7420
Comments
Post a Comment