Home Maintenance and Financial Literacy: Assisting Limited Resource Families

Maintaining the old, building the new

The Old North St. Louis neighborhood has endured 40 years of population decline and increased poverty rates. The majority of its existing housing stock was built before 1939. While it has values associated with historic properties, it also carries a heavy cost burden in maintenance and repair, both for homeowners and for landlords and tenants.

The neighborhood is preparing for new housing construction. However, local residents want to ensure that this development will have a positive impact on current homeowners and tenants in the neighborhood.

Providing resources

The Gateway to Financial Fitness program teaches residents important skills that can help them reach goals like purchasing a house.

Under the leadership of the Old North St. Louis Restoration Group and the Regional Housing and Community Development Alliance, new housing construction and renovation is adding significantly to the neighborhood's housing stock over the next five years. The Old North Neighborhood Partnership has led a complementary strategy, providing resources to enable residents to improve their existing homes or to consider purchasing new homes in the neighborhood.

Where the Old North Neighborhood Partnership is focusing

• Home Maintenance Training

  HomeWorks, a curriculum developed by University of Missouri Outreach and Extension, assisted Old North residents in improving their homes and making the most of limited resources.

Under the guidance of University of Missouri Extension faculty, the following resources have been developed to assist current and potential Old North residents in home maintenance projects.

•  An Environmental Education and Resource Lending Library. Located in the offices of the Old North St. Louis Restoration Group, the library provides current and potential residents with books, videotapes and brochures, along with screening and protection equipment such as moisture meters and carbon monoxide detectors. Resources include guides for historic homes and properties, videotapes on home projects, and do-it-yourself workbooks.

• A Rehabbers Tool Kit. Educational materials related to environmental hazards found in older homes and guides on how to safely renovate or complete home repairs are available at the Old North St. Louis Restoration Group offices. Designed as a tool box, the resources allow Old North residents to improve their financial planning capabilities, keep track of expenses, improve their ability to work with contractors, and undertake home improvement projects in a more efficient and safe manner.

• Gateway to Financial Fitness

  Training in financial management has been essential component in assisting both tenants and homeowners in Old North St. Louis. The Gateway to Financial Fitness program is offered to Old North residents, as part of a collaborative partnership between University of Missouri Outreach and Extension, Catholic Commission on Housing and Neighborhood Housing Services. A limited number of neighborhood residents completing the Gateway to Financial Fitness courses were eligible for a forgivable loan program administered by Catholic Commission on Housing. In addition, residents were referred to additional programs in home ownership and individual development accounts.