Affordable Housing as a Tool for Community Development and Revitalization JENNIFER L. MILLIKEN, AICP APA-INDIANA OCTOBER 20, 2011

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1 Affordable Housing as a Tool for Community Development and Revitalization JENNIFER L. MILLIKEN, AICP APA-INDIANA OCTOBER 20, 2011

2 Summary Want to make a tangible difference in your community? Wishing someone would fix up that old building downtown? Affordable housing can be a catalyst in community development and revitalization, and your city or town can play a role. Learn about projects funded by the State Housing Authority and proven partnerships including local units of government.

3 Learning Objectives 1. Recognize the role of the State housing authority in bringing affordable housing to Indiana communities, including the types of projects funded and the strategic funding priorities of the agency. 2. Understand the roles that cities and towns can play in affordable housing development, and different structures for partnerships between public, not-for-profit, and for-profit organizations. 3. Generate ideas for how affordable housing development can help spark community development and revitalization efforts in their communities.

4 Presentation Outline 1. Role of the State housing authority. 2. Example of projects with significant Local Government participation. 3. Benefits and Challenges 4. Next Steps

5 Part 1: Role of the State Housing Authority

6 Part 1: Overview IHCDA Overview Types of Projects Funded Strategic Investment Priorities of the Agency Available Funding Sources Eligible Costs

7 Framework: National Affordable Housing Policy Federal Role Makes programs/funding available; administers some programs (HUD). State Role Allocates funding/administers programs (IHCDA).

8 IHCDA Major Functions

9 Affordable Housing Programs for Real Estate Development Rental Housing New Construction & Rehab Home Ownership New Construction & Buy/Rehab/Resell Owner-Occupied Rehabilitation LIHTC HOME CDBG

10 Examples of Rental Housing (Attached)

11 Examples of Rental Housing (Detached)

12 Example of Ownership New Construction (Habitat)

13 Example of Owner-Occupied Rehab

14 LIHTC U.S. Dept. of Treasury gives each state authority to allocate a set amount in tax credits each year. Indiana 2012 is $14,000,000 The credit is good for 10 years, projects must be sustained for 15 years. In 2012 IHCDA will allocate the $14,000,000 among approx. 20 approx. $700,000 each. Since it s good for 10 years, it s worth $700,000 x 10 or $7,000,000. The project developers will then sell the tax credit to investors at approx. 80 cents on the dollar, thereby generating $5,600,000 in equity to construct the project.

15 LIHTC Within a project, at least 40% of the apartments or homes must be rented to households making less than 60% of the Area Median Income (AMI). Must follow established maximum rents per income level. Projects must meet the requirements of the state s Qualified Allocation Plan (QAP), including threshold requirements and competitive scoring. State s QAP is our way to set policy regarding affordability, clients served, and sustainability. Also require a market study and must pass our financial analysis.

16 IHCDA s Strategic Investment Process IHCDA allocates our other funding sources (HOME, CDBG, Development Fund) through the SIP. Types of projects include rental housing (new & rehab), home ownership (new & buy/rehab/resell) and owneroccupied rehab. Priorities are: Aging in Place Ending Homelessness Comprehensive Community Development High Performance Building Some limited ability to fund non-housing components of projects that meet our priorities.

17 Comprehensive Community Development: City of New Albany

18 Aging in Place: The Villas of Guerin Woods

19 Ending Homelessness: Middle Way House (adaptive reuse)

20 High Performance Building: 16 Park, Indianapolis

21 HOME & CDBG HOME - Home Investments Partnership Program - $ granted from HUD directly to IHCDA based on state formula allocation. Larger cities are also Participating Jurisdictions. CDBG Community Development Block grant - $ granted from HUD to states based on state formula allocation. In Indiana, CDBG $ goes to the Office of Community & Rural Affairs (OCRA), who grants a portion of it for housing to IHCDA, and keeps the rest to do infrastructure and economic development projects. Larger cities are also CDBG Entitlement Communities.

22 HOME & CDBG HOME - Can make grants or no/low-interest loans to local governments, non-profits, and for-profit developers. CDBG Local governments only, except for our disaster allocation. Amount and type of funding depends on type of organization and financial analysis. Apartments or homes must be occupied by households making less than 60% AMI for HOME or 80% AMI for CDBG (preference for lower income levels). Must follow established maximum rents per income level. IHCDA can set policy by creating additional requirements

23 Stellar Communities Program First of its kind collaboration between: Indiana Office of Community and Rural Affairs (OCRA) Indiana Housing and Community Development Authority (IHCDA) Indiana Department of Transportation (INDOT) Objectives: Stellar Communities embodies collaborative government partnerships to successfully leverage state and federal funding from multiple agencies to undertake large-scale comprehensive community revitalization projects. Through this program, Indiana is achieving more with combined resources, making an enduring impact on communities. Timeline: Year one projects are coming online Shovels will hit the ground in the Spring of 2012 Year two projects are in preliminary review A second round of Stellar Communities is planned for Winter/Spring 2012

24 Eligible Expenses Land Acquisition Demolition Rehabilitation/New Construction Administration/Program Delivery/Developer Fees

25 Part 2: Example of Projects with Significant Local Government Participation

26 Town of Walkerton Orchard Park (Walkterton Sr. Hsg.)/HOME/2008 Subgrantee Flaherty & Collins Consultant Housing Assistance Office Homebuyer Rehab/HOME/2009 Subgrantee HAO West York Redevelopment/LIHTC/2010 Grantee Town of Walkerton Owner - West York Redevelopment LP Consultant Neighborhood Development Associates NSP Projects

27 Walkerton NSP Example

28 Town of Paoli OOR/CDBG/2009 College Hill Apts./NSP & HOME/2009 Homebuyer Rehab/NSP & HOME/2009 Comprehensive Revitalization Project/Multiple Funding Sources/Pending Private LIHTC Projects

29 Collage Hill Apartments, Paoli For more info see:

30 City of Washington Rental Rehab/CDBG/2005 OOR/CDBG/2011 NSP Private LIHTC Projects For more info see:

31 Other Linton OOR/CDBG & HOME/2003, 2007, 2009 NORC Project Crothersville OOR/CDBG/2001, 2011 New Albany OOR/CDBG & HOME/2000, 2003, 2011 NSP Projects NAHA Projects

32 North Vernon North Vernon Sr. Citizen Housing/Rental Rehab/CDBG/2002 OOR/CDBG/2008 & 2009 Stellar Communities/multiple projects & funding sources/2011 For more info:

33 City of North Vernon Stellar Communities Project Arvin Redevelopment site Acre Brownfield site, clearing the way for private investment Carnegie Library Restoration Depot Events Center Renovation Downtown Streetscapes Historic Uptown Streetscape improvements near Irish Hill neighborhood Close Short Street to construct pedestrianfriendly plaza space Main Street Development - mixed use for both commercial and residential development

34 City of Greencastle Stellar Communities Project Revitalize courthouse square and central business district Create pedestrian friendly residential areas Enhance housing options - second story loft housing in commercial district and new construction in South Court neighborhood Community health initiatives, including new community health center and new trail linking community to recreational area Partnership with Indianapolis Symphony Orchestra Technology hub/wi-fi bubble in commercial district

35 Greencastle Stellar Communities Project

36 Part 3: Benefits & Challenges

37 Framework: Housing Demand National Housing Policy: Rent/Mortgage burden should equal approximately 30% of your gross household income. More or less for certain household circumstances. Lack of housing available at those levels for some low- income households. Elderly Disabled Homeless Other (Note: SSI income $600/mo.)

38 Framework: Housing Supply I see lots of vacant homes, so why isn t there affordable housing available? Who owns/controls? Housing characteristics Housing conditions Obsolesence Accessibility Location Cost to develop and operate

39 Challenge: Future of Affordable Housing Programs? How sustainable are the current programs in light of the government budget concerns and political sentiment in Congress? Some Congressmen don t believe there should be any National Housing Policy. If we are to be sustainable as a nation & as communities, what housing needs must we ensure are met?

40 Future of Affordable Housing Programs? Likely to maintain programs that leverage private funds. LIHTC benefit to higher income individuals in terms of tax savings; strong leverage; creates jobs. Likely to maintain programs that assist our most vulnerable citizens. Disabled Veterans Elderly Homeless (many have mental/substance abuse issues)

41 Benefit: Providing quality, affordable housing for low income persons Disabled home modifications & new development Elderly home modifications & new development Homeless/Permanent Supportive Housing/Housing First Veterans (5-year plan through 2013) Substance Abuse Issues Severe Mental Illness LIHTC Apartments for general low income families most important for these groups to have access to jobs/education/training/resources which will improve their income over time.

42 Challenge: Need for Partnership

43 Partnership Structures Local Unit of Government can be owner, developer or sponsor of a development project. Local Unit of Government as grantee can also have: Sub-grantee: Non-profit Grant Administrator/Consultant: Non-profit or For-profit (procured) Grantee can be an LP or LLC with various member partners, For-profit and Non-profit. Local Unit of Government can show its sponsorship through matching grants, land donations, etc.

44 Challenge: Design for Affordable Housing

45 Design for Individual Needs: Noblesville Senior Apartments

46 Design for Community Needs: Central School, Anderson

47 Benefit: Subsidizing the preservation/revitalization of structures important to the community

48 Benefit: Subsidizing the preservation/revitalization of structures important to the community

49 Benefit: Bringing people back into downtowns and urban neighborhoods.

50 Part 4: Next Steps

51 Next Steps Access this presentation when it s available on-line. Follow the links to learn more about some of the projects. Contact some of the cities and towns mentioned, and ask them about their experiences. Get together the people in your community who would be interested in such a project. Check out IHCDA s website and learn more about what s required to submit an application. Contact the IHCDA Production Analyst for your region, to discuss potential projects. Contact IACED for project development assistance. Check out OCRA s website for CDBG grant administrators.

52 About the speaker Jennifer Milliken earned her BUPD from Ball State in 1994, and a Master of Public Administration from Florida Atlantic University in She has worked as a local government planner and as a planning consultant, and has taught courses at Ball State s Department of Urban Planning as an Adjunct Instructor. But the majority of her career (12 years+) has been specialized in housing. She currently works for the Indiana Housing and Community Development Authority and has certifications in the CDBG, HOME and LIHTC housing programs. Jennifer has belonged to APA since 1990 and is a member of AICP. She is an experienced speaker at APA and other events. She also is a member of the Urban Land Institute and is board member of ULI-Indiana, and manages that organization s annual Real Estate Trends in Indiana project.

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