Placemaking thru Rehabilitation

Size: px
Start display at page:

Download "Placemaking thru Rehabilitation"

Transcription

1 Placemaking thru Rehabilitation A DEVELOPER S PERSPECTIVE Gary Scheuren, Scheuren & Associates October 9, 2014

2 Today s Topics: Drivers to Redevelopment Success Critical Downtown Building Passionate Developer Engaged Local Municipality Public Policy Priorities Complex Financial Structuring Market Demand or Market Maker Case Studies: Kerr Block Redevelopment Fremont s Gateway Senior Apartments

3 Kerr Block Redevelopment Coldwater, MI Long vacant and underutilized DDA Ownership 16 years in the making 14 mixed-income Apartments 2 Restaurants + Commercial Lease Space Completion: Winter 2015 $5.8 Million Total Development

4 Fremont Gateway Senior Apartments High School Adaptive Reuse Vacated downtown High School Redevelopment of historic portion 38 mixed-income senior apartments Community Center for remainder of complex 2 ½ years from RFP to Construction Start Completion Spring 2015 $12 Million Total Development

5 Critical Downtown Building Kerr Block, Coldwater Corner location in heart of downtown Nearly an entire city block Immediately adjacent to rehabilitated Tibbits Opera House Real potential for catalytic impact Existing parking adjacent & across street

6 Critical Downtown Building Fremont Gateway Gateway to adjacent to downtown Across street from Library & City Hall Walkscore 92 Existing on site parking Partnership with Recreation Authority Demolition would create large void

7 Passionate Developer Kerr Block, Coldwater First time Developer Native of Coldwater Has a Vision Passionate about Coldwater Revitalization & creating a Legacy. Financial return is secondary priority. Willingness to start project before loan closing

8 Passionate Developer Fremont Gateway Home Renewal Systems, LLC Very experienced housing developer Passionate about Placemaking and Revitalization projects Understands importance of good local relationships Knows that financial return has limits

9 Engaged Local Municipality Kerr Block, Coldwater Patient! Kerr Block is a priority Building held while developer worked through multiple lenders and tenants MSHDA Rental Rehab application MEDC - CDBG Grant application DDA grant OPRA designation and application

10 Engaged Local Municipality Fremont Gateway Redevelopment was priority for School District and City Very patient while awaiting LIHTC applications & 2 investors Swift Zoning and Site Plan processes Active in promoting project Proactive and solution-seeking Created Recreation Authority for Community Center

11 Public Policy Priorities Kerr Block, Coldwater Historic Preservation Blight Elimination Affordable Housing Brownfield Redevelopment

12 Public Policy Priorities Fremont Gateway Historic Preservation Affordable Senior Housing Brownfield Redevelopment

13 Complex Financing Kerr Block, Coldwater Sources of Financing $875K - Developer Cash Contribution $125K - DDA Grant $840K - Federal Historic Tax Credits $1.5M - State Historic/Brownfield Credits $525K - Commercial Bank Loan $403K - MEDC Blight Elimination Grant (CDBG) $300K - CDBG Revolving Loan (MEDC) $409K - MSHDA Rental Rehab Grant $725K - Deferred Developer Fee Challenges Attracting Lenders / Investors (2 sets) Competing interests of financing sources Investor Patience Blending Program Requirements High legal/accounting costs

14 Complex Financing Fremont Gateway Sources of Financing Developer Cash Contribution Federal Low Income Tax Credits (LIHTC) Newaygo Co. Brownfield Grant Housing and Community Development Fund Grant (MSHDA) Reduced and Deferred Developer Fees Challenges Master Tenant Organizational Structure (doubles transaction complexity) 2 Rounds thru LIHTC application process 2 sets of Investors/Lenders Closing the final gap Urgency to meet LIHTC Deadlines

15 Market Demand or Market Maker? Kerr Block, Coldwater No formal Market Study Confidence of Lender/Investor Restaurant Relocation Start-up business Best housing option in Downtown

16 Market Demand or Market Maker? Fremont Gateway New Product for Fremont Market Focus Group effort confirmed product design Market Study 18 month lease-up 38 units 100 applicants (6 months before completion!)

17 Thank You! Questions? Contact Information: Gary Scheuren Scheuren & Associates

Placemaking & Finances. MBA Annual Convention June 19, 2015 9:35am 10:30am

Placemaking & Finances. MBA Annual Convention June 19, 2015 9:35am 10:30am Placemaking & Finances MBA Annual Convention June 19, 2015 9:35am 10:30am Welcome and Introductions Sue Mosey, Midtown Detroit MIDTOWN DETROIT PLACEMAKING June 2015 CASS CANFIELD DISTRICT Community Gardens

More information

COMMUNITY DEVELOPMENT TOOLS AND TRENDS BRIDGING THE FINANCING GAP APRIL 2, 2015

COMMUNITY DEVELOPMENT TOOLS AND TRENDS BRIDGING THE FINANCING GAP APRIL 2, 2015 COMMUNITY DEVELOPMENT TOOLS AND TRENDS BRIDGING THE APRIL 2, 2015 FINANCING GAP Economic Development Finance Leveraging public resources through proactive approaches that solve the needs of industry, business,

More information

Washtenaw County Economic Development Incentives & Programs

Washtenaw County Economic Development Incentives & Programs Washtenaw County Economic Incentives & Programs Commercial Rehabilitation Tax Exemption (PA 210) Tax Abatements Property tax abatement for a period of 1 to 10 years for owners of certain rehabilitated

More information

G. Syracuse RESTORE III The Connective Corridor: Building Upwards (W828) June 24, 2010. General Project Plan

G. Syracuse RESTORE III The Connective Corridor: Building Upwards (W828) June 24, 2010. General Project Plan General Project Plan Grantee: City of Syracuse (the City or Syracuse ) Beneficiary Company: 215 West Fayette Street Associates, LLC ESD Investment: Project Locations: A grant of up to $1,300,000, pending

More information

KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM

KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM PURPOSE As a fundamental goal of the Downtown Development Plan and Tax Increment Financing Plan (Plan), the Kalamazoo Downtown Development

More information

Financing Options for the Ford Highland Park Project

Financing Options for the Ford Highland Park Project Financing Options for the Ford Highland Park Project Prepared for: Woodward Heritage 5401 Woodward Avenue Detroit, Michigan 48202 Prepared by: 76 East Forest Avenue Detroit, Michigan 48201 December 2005

More information

S. BLOCK 68 REDEVELOPMENT PROJECT AREA

S. BLOCK 68 REDEVELOPMENT PROJECT AREA S. BLOCK 68 REDEVELOPMENT PROJECT AREA 1. Revitalization Project Description The Block 68 Redevelopment Project Area is located on the block bounded by 10 th, 11 th, M, and N Streets, and is comprised

More information

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

Affordable Housing as a Tool for Community Development and Revitalization JENNIFER L. MILLIKEN, AICP APA-INDIANA OCTOBER 20, 2011 Affordable Housing as a Tool for Community Development and Revitalization JENNIFER L. MILLIKEN, AICP APA-INDIANA OCTOBER 20, 2011 Summary Want to make a tangible difference in your community? Wishing someone

More information

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM PARTICIPATING PARTNERS Village of Grafton First Bank Financial Centre FUNDING SOURCE Government/Bank Consortium DESCRIPTION A revolving loan

More information

ECONOMIC RECOVERY BOARD FOR CAMDEN

ECONOMIC RECOVERY BOARD FOR CAMDEN ECONOMIC RECOVERY BOARD FOR CAMDEN GUIDE TO PROGRAM FUNDS April 2012 The Economic Recovery Board for Camden ( ERB ) is a subsidiary of the New Jersey Economic Development Authority. For further information

More information

Stabilizing Rural Communities Through Housing Partnerships

Stabilizing Rural Communities Through Housing Partnerships Stabilizing Rural Communities Through Housing Partnerships SOUTHWEST MINNESOTA HOUSING PARTNERSHIP SLAYTON, MINNESOTA CASE STUDY Program Overview When municipalities in 30 southwest and southcentral Minnesota

More information

Historic Mill Financing In the South. www.urbantrustcapital.com

Historic Mill Financing In the South. www.urbantrustcapital.com Historic Mill Financing In the South www.urbantrustcapital.com Presented By Urban Trust Capital Services Tax Credit Transaction Advisory Firm Representing Owners, Developers and Nonprofits. Services Include

More information

City of Mequon Town Center

City of Mequon Town Center City of Mequon Town Center Business Development Loan Program Participating Partners: City of Mequon First Bank Financial Centre Funding Source: Public/Bank Consortium Description: A revolving loan fund

More information

Development Charge incentives. Yes in town centres. Other exemptions for affordable housing. See Affordable Housing Incentives column

Development Charge incentives. Yes in town centres. Other exemptions for affordable housing. See Affordable Housing Incentives column Municipality Central Business District Community Improvement Plan Façade Improvement Tax Increment Financing Planning Fee Rebate Development Charge Exemption Residential Incentives Brownfield Incentives

More information

SHELBY COUNTY LAND BANK

SHELBY COUNTY LAND BANK SHELBY COUNTY LAND BANK Dawn Kinard - Administrator 584 Adams Ave Memphis, TN 38103 901-222-2581 SHELBY COUNTY LAND BANK Mission Statement To return tax delinquent properties back into productive use as

More information

Government Deal Funding

Government Deal Funding $97 00 Government Deal Funding for Real Estate Investors and Developers with Sean Carpenter -- -- Program Guide to Profits The US Government Has Set Aside Literally BILLIONS For Savvy Real Estate Investors.

More information

Michigan State Housing Development Authority. Office of Community Development MSHDA MISSION

Michigan State Housing Development Authority. Office of Community Development MSHDA MISSION Michigan State Housing Development Authority Office of Community Development MSHDA MISSION The Michigan State Housing Development Authority (MSHDA) provides financial and technical assistance through public

More information

Historic Preservation in Housing and Community Development. Linking Historic Preservation to Community Development Block Grant Objectives

Historic Preservation in Housing and Community Development. Linking Historic Preservation to Community Development Block Grant Objectives U.S. Department of Housing and Urban Development Office of Community Planning and Development Office of Environment and Energy Historic Preservation in Housing and Community Development Linking Historic

More information

FREQUENTLY ASKED QUESTIONS & ANSWERS

FREQUENTLY ASKED QUESTIONS & ANSWERS Motor City Match FAQs Frequently Asked Questions FREQUENTLY ASKED QUESTIONS & ANSWERS Table of Contents 1. Motor City Match: The Basics 2. Eligibility 3. Application Details 4. Award Details 5. Selection

More information

Community Investment Plan (CIP) 2014-2016

Community Investment Plan (CIP) 2014-2016 Community Investment Plan (CIP) 2014-2016 SECTION 1: Community or constituency to be served by the organization The Downtown Taunton Foundation (DTF) is a place-based nonprofit Community Development Corporation

More information

BUSINESS OWNER PROGRAM GUIDELINES

BUSINESS OWNER PROGRAM GUIDELINES BUSINESS OWNER PROGRAM GUIDELINES Table of Contents 1. Executive Summary 2. How the Business Owner Track Works 3. Award Details 4. Eligibility Criteria 5. Application Process 6. Selection Process 7. Match

More information

TOWN OF NEW CASTLE BUSINESS INCENTIVE POLICY. First Draft: For discussion only

TOWN OF NEW CASTLE BUSINESS INCENTIVE POLICY. First Draft: For discussion only TOWN OF NEW CASTLE BUSINESS INCENTIVE POLICY First Draft: For discussion only Incentives may be offered to businesses and industries which meet the Town s goal of developing a long-term, sustainable economic

More information

METROPOLITAN REDEVELOPMENT PLAN II OLD ALBUQUERQUE HIGH SCHOOL

METROPOLITAN REDEVELOPMENT PLAN II OLD ALBUQUERQUE HIGH SCHOOL METROPOLITAN REDEVELOPMENT PLAN II OLD ALBUQUERQUE HIGH SCHOOL Preface This revised plan for redevelopment of the Old Albuquerque High School Metropolitan Redevelopment Area has been prepared pursuant

More information

CONSIDERATIONS FOR LOCAL GOVERNMENTS PROPOSING PROPERTY ACQUISITION UNDER GEORGIA S NEIGBHORHOOD STABILIZATION PROGRAM

CONSIDERATIONS FOR LOCAL GOVERNMENTS PROPOSING PROPERTY ACQUISITION UNDER GEORGIA S NEIGBHORHOOD STABILIZATION PROGRAM CONSIDERATIONS FOR LOCAL GOVERNMENTS PROPOSING PROPERTY ACQUISITION UNDER GEORGIA S NEIGBHORHOOD STABILIZATION PROGRAM This document provides information to assist communities that propose to demolish,

More information

2. Inventory available public property within the site area. Include publiclyheld property, tax-foreclosures, and donated property.

2. Inventory available public property within the site area. Include publiclyheld property, tax-foreclosures, and donated property. Land Assembly and Redevelopment What is it? Land is location, and location is the most valuable asset in successful real estate development. The right land transaction is crucial to each of the twin objectives

More information

PERSONS/FIRMS SPONSORING THE CONSTRUCTION AND/OR REHABILITATION OF RENTAL HOUSING FOR LOW- AND MODERATE-INCOME PERSONS/ HOUSEHOLDS

PERSONS/FIRMS SPONSORING THE CONSTRUCTION AND/OR REHABILITATION OF RENTAL HOUSING FOR LOW- AND MODERATE-INCOME PERSONS/ HOUSEHOLDS NOTICE OF CREDIT AVAILABILITY (NOCA) FEDERAL TAX CREDIT New York State Homes and Community Renewal New York State Division of Housing and Community Renewal Hampton Plaza 38-40 State Street Albany, NY 12207

More information

The Value of Historic Preservation. Colorado National Bank Building 918 17 th Street

The Value of Historic Preservation. Colorado National Bank Building 918 17 th Street The Value of Historic Preservation Colorado National Bank Building 918 17 th Street Original Building Building history Harold Kountze, then Vice President of Colorado National Bank, commissioned architect

More information

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION Created in proud partnership with BUSINESS DEVELOPMENT LOAN POOL (BDLP) Milwaukee Downtown,

More information

BUSINESS OWNER PROGRAM GUIDELINES

BUSINESS OWNER PROGRAM GUIDELINES BUSINESS OWNER PROGRAM GUIDELINES Table of Contents 1. Executive Summary 2. How the Business Owner Track Works 3. Award Details 4. Eligibility Criteria 5. Application Process 6. Selection Process 7. Match

More information

DOWNTOWN HOUSTON DEVELOPMENT ASSISTANCE

DOWNTOWN HOUSTON DEVELOPMENT ASSISTANCE DOWNTOWN HOUSTON DEVELOPMENT ASSISTANCE The following programs have been utilized in the past for downtown Houston developments. This list is meant to provide information that might potentially be applicable

More information

Tashman Johnson LLC Consultants in Policy, Planning & Project Management

Tashman Johnson LLC Consultants in Policy, Planning & Project Management Tashman Johnson LLC Consultants in Policy, Planning & Project Management AN OVERVIEW OF URBAN RENEWAL Tashman Johnson LLC Jeffrey Tashman 503.245.7828 Nina Johnson 503.245.7416 Fax 503.245.3171 6585 S.W.

More information

DCA s Affordable Rental Housing Program

DCA s Affordable Rental Housing Program DCA s Affordable Rental Housing Program Presented by: David Bartlett Office of Affordable Housing Program Objective Create and preserve quality,affordable rental housing where it s most needed Augusta

More information

Defining Community Development. What qualifies and a case study for practical application

Defining Community Development. What qualifies and a case study for practical application Defining Community Development What qualifies and a case study for practical application (CD) Credit needs vary among communities CD regulation concepts CD Loans Qualified Investments CD Services Affordable

More information

Frequently Asked Questions

Frequently Asked Questions Frequently Asked Questions Low Income Housing Tax Credits and Public Housing Cambridge Housing Authority How Do Low Income Housing Tax Credits Work? A corporate investor will invest money up front in an

More information

Commercial Rehabilitation Tax Abatement (PA 210) Application Guidelines October 21, 2008

Commercial Rehabilitation Tax Abatement (PA 210) Application Guidelines October 21, 2008 Commercial Rehabilitation Tax Abatement (PA 210) Application Guidelines October 21, 2008 Table of Contents Section A Commercial Rehabilitation Tax Abatement (PA 210) Application Guidelines Section B Criteria

More information

CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE

CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE The purpose of this plan is to establish policies, application forms, approval procedures, and administrative support for

More information

BUSINESS DEVELOPMENT LOAN PROGRAM

BUSINESS DEVELOPMENT LOAN PROGRAM BUSINESS DEVELOPMENT LOAN PROGRAM Overview Established in 2013, the Business Development Loan Program provides below market rates and favorable terms for new and existing businesses located in the Town

More information

Affordable Housing: LIHTC Accounting Overview. July 30, 2014

Affordable Housing: LIHTC Accounting Overview. July 30, 2014 Affordable Housing: LIHTC Accounting Overview July 30, 2014 Tax Credits 101 TOPIC Welcome and Overview Project Proforma Roles, Motivations and Responsibilities of Developer and Investor 10% Test 50% Test

More information

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDLP) VILLAGE OF MENOMONEE FALLS, WISCONSIN PARTICIPATING PARTNERS Participating

More information

Community Investments Vol. 15, Issue 2 Ginnie Mae Project Loans Maintain Affordability

Community Investments Vol. 15, Issue 2 Ginnie Mae Project Loans Maintain Affordability Community Investments Vol. 15, Issue 2 Ginnie Mae Project Loans Maintain Affordability August 2003 Introduction Multifamily mortgage-backed securities issued by Ginnie Mae offer investors the opportunity

More information

2/11/2014. How to Improve Odds of Success in Municipal Economic Development. What is Municipal Economic Development?

2/11/2014. How to Improve Odds of Success in Municipal Economic Development. What is Municipal Economic Development? How to Improve Odds of Success in Municipal Economic Development Advanced Municipal Elected Officials Institute February 4, 2014 What is Municipal Economic Development? A municipality s economic development

More information

Submittal Requirements for Development Projects

Submittal Requirements for Development Projects Submittal Requirements for Development Projects 2004 Mission Statement: The Denver Urban Renewal Authority is a full-service redevelopment agency engaged in neighborhood and downtown revitalization, economic

More information

Concept Plan. Reedsburg Downtown Business Incubator

Concept Plan. Reedsburg Downtown Business Incubator Concept Plan Reedsburg Downtown Business Incubator Prepared by: Ken Witt, City Administrator - 0 - Table of Contents Mission Statement, Vision, Key Objectives... 2 Program Concept... 2 Downtown Focus...

More information

Community Engagement for Preservation Rental Housing: Preservation and Rehabilitation

Community Engagement for Preservation Rental Housing: Preservation and Rehabilitation Rhode Island Housing Page 1 of 3 Opting Out is Not an Option The preservation of our scarce inventory of affordable apartments has always been a priority for Rhode Island Housing. Faced with record-high

More information

APPENDIX 6: FUNDING SOURCES MATRIX

APPENDIX 6: FUNDING SOURCES MATRIX APPENDIX 6: ING S MATRIX NAME FEDERAL S Assisted Living Conversion Program (ALCP) Community Development Block Grant (CDBG) Energy Efficiency and Conservation Block Grants (EECBG) Green Retrofit Program

More information

MICHIGAN ASSOCIATION of COUNTY TREASURERS. Tax Increment Financing Programs: An Interactive Overview

MICHIGAN ASSOCIATION of COUNTY TREASURERS. Tax Increment Financing Programs: An Interactive Overview MICHIGAN ASSOCIATION of COUNTY TREASURERS Tax Increment Financing Programs: An Interactive Overview August 12, 2013 Thompsonville, MI Authorities using Tax Increment Financing 1. DDAs 2. TIFAs 3. LDFAs

More information

C. Owego RESTORE III Historic Central Business Restoration (W846) August 16, 2010. General Project Plan. Village of Owego ( Owego or the Village )

C. Owego RESTORE III Historic Central Business Restoration (W846) August 16, 2010. General Project Plan. Village of Owego ( Owego or the Village ) General Project Plan Grantee: Beneficiaries: ESD Investment: Project Locations: NYS Empire Zone: Village of Owego ( Owego or the Village ) Field Afar Properties, LLC (2 Court Street) Gerald Arbes (20 Church

More information

Redevelopment. Resource Guide

Redevelopment. Resource Guide Redevelopment Resource Guide One-Stop-Shop for Assistance As your one-stop-shop for business development and redevelopment, the Greater Omaha Economic Development Partnership is here to help you navigate

More information

Lawrence Heights Revitalization Corporate Implementation Actions and Social Development Plan

Lawrence Heights Revitalization Corporate Implementation Actions and Social Development Plan STAFF REPORT ACTION REQUIRED Lawrence Heights Revitalization Corporate Implementation Actions and Social Development Plan Date: June 8, 2010 To: From: Wards: Community Development and Recreation Committee

More information

RAD Implementation - Development Team RFQ. SF Housing Authority Commission. January 30, 2014

RAD Implementation - Development Team RFQ. SF Housing Authority Commission. January 30, 2014 RAD Implementation - Development Team RFQ SF Housing Authority Commission January 30, 2014 2 Background Consistent with the findings of the San Francisco Public Housing Re-Envisioning process and July

More information

Lending is a tricky business. It s a delicate balance between helping someone and pushing them off the

Lending is a tricky business. It s a delicate balance between helping someone and pushing them off the Lending is a tricky business It s a delicate balance between helping someone and pushing them off the cliff Virginia Community Capital and the June 18, 2008 2 Lending is a dangerous business. Even though

More information

SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN

SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN Citizens Research Council of Michigan SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN 2ND EDITION June 2007 Repor ort 347 CITIZENS RESEARCH COUNCIL OF MICHIGAN MAIN OFFICE 38777 West Six Mile Road,

More information

January 1, 2015 thru March 31, 2015 Performance Report

January 1, 2015 thru March 31, 2015 Performance Report Grantee: Grant: Gary IN B-11-MN-18-0005 January 1 2015 thru March 31 2015 Performance Report 1 Grant Number: B-11-MN-18-0005 Grantee Name: Gary IN Grant Award Amount: $2717859.00 LOCCS Authorized Amount:

More information

Click here to access the applicable maps associated with the 2013 QAP. If you have any further questions, please call Delbe Spath at 860-571-3527.

Click here to access the applicable maps associated with the 2013 QAP. If you have any further questions, please call Delbe Spath at 860-571-3527. The Conservation and Development Policies Plan 2013-2018 ( C&D Plan ) issued by the Office of Policy and Management has been approved for 2013 incorporating changes to how the plan is used and the corresponding

More information

Empire State Housing Investment Fund Proposal

Empire State Housing Investment Fund Proposal Empire State Housing Investment Fund Proposal Goals: To expand the resources dedicated to addressing the affordable housing needs of low income New Yorkers; To establish a fund flexible enough to be responsive

More information

OAKLAND PARK COMMUNITY REDEVELOPMENT AGENCY. DEVELOPMENT and RELOCATION INCENTIVE PROGRAM

OAKLAND PARK COMMUNITY REDEVELOPMENT AGENCY. DEVELOPMENT and RELOCATION INCENTIVE PROGRAM OAKLAND PARK COMMUNITY REDEVELOPMENT AGENCY DEVELOPMENT and RELOCATION INCENTIVE PROGRAM DEVELOPMENT AND RELOCATION INCENTIVE PROGRAM I. Introduction The Development/Relocation Incentive program is designed

More information

Land Banks and Affordable Housing

Land Banks and Affordable Housing September 2008 Volume 7 Issue 5 Land Banks and Affordable Housing You can hardly turn on the news today without hearing a report that the number of foreclosed properties continues to rise nationwide. In

More information

10 STEPS TO HOUSING DEVELOPMENT SDHDA

10 STEPS TO HOUSING DEVELOPMENT SDHDA 1. Assess Housing Needs Methods of Assessment Yankton Area Housing Study (December, 2013) Yankton Area Progressive Growth (YAPG) partnered with the City of Yankton to hire Community Partners Research,

More information

Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD)

Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD) Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD) GOAL: To attract new businesses and investors, to provide private property owners access

More information

NDC Academy 2015 Creative Financing Small Business Entrepreneurship

NDC Academy 2015 Creative Financing Small Business Entrepreneurship Category: Creative Financing Project: Small Business Entrepreneurship at the 5th Street Arcades Project Location: 530 Euclid Avenue, Cleveland, OH 44115 Status: Complete except for one unfilled storefront

More information

Why does TBI matter?

Why does TBI matter? Why does TBI matter? The Troubled Buildings Initiative has opened the door to a wide range of new or previously underutilized techniques for saving at-risk buildings: buying notes and mortgages, then completing

More information

City of Madison TIF Loan Underwriting Policy

City of Madison TIF Loan Underwriting Policy City of Madison TIF Loan Underwriting Policy TIF Policy Committee: Ald. Shiva Bidar-Sielaff Ald. Mark Clear Ald. Sue Ellingson Ald. Chris Schmidt (Chair) Ald. Mike Verveer Joe Gromacki, TIF Coordinator

More information

Lawrence J. Kendzior, City Manager Economic Development Housing and Zoning Committee Interested Parties

Lawrence J. Kendzior, City Manager Economic Development Housing and Zoning Committee Interested Parties MEMORANDUM TO: FROM: RE: Lawrence J. Kendzior, City Manager Economic Development Housing and Zoning Committee Interested Parties Juliet Burdelski, Director of Economic Development Update of Economic Development

More information

Indiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements

Indiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements 2014 Indiana Affordable Housing & Community Development Fund Application Process, Underwriting Guidelines, & Compliance Requirements 30 South Meridian Street, Suite 1000 Indianapolis, Indiana 46204 317.232.7777(p)

More information

What is a Community Development Entity?

What is a Community Development Entity? Overview What are New Markets Tax Credits? > First federal tax credit program to stimulate commercial investment in low-income communities > The program is administered by the US Treasury Department through

More information

Housing Tax Credit Essentials

Housing Tax Credit Essentials Housing Tax Credit Essentials 1 Background Part of 1986 Tax Reform to encourage the construction and rehabilitation of low-income rental housing Contained in Section 42 of the tax code Emphasis on private

More information

Using Federal Tax Credits to Help Finance Rehabilitation in Downtown Miami

Using Federal Tax Credits to Help Finance Rehabilitation in Downtown Miami Using Federal Tax Credits to Help Finance Rehabilitation in Downtown Miami NTCIC: A brief history Organized as a for profit, wholly-owned subsidiary of the National Trust for Historic Preservation in August

More information

Economic Development and Housing

Economic Development and Housing Economic Development and Housing Economic Development and Housing Director Senior Staff Assistant Assistant Economic Development and Housing Director Economic Development Division Housing Division Community

More information

Tay Township. Community Strategic Plan Presentation. Lauren Millier, Vice-President Consulting

Tay Township. Community Strategic Plan Presentation. Lauren Millier, Vice-President Consulting Tay Township Community Strategic Plan Presentation Presented by Lauren Millier, Vice-President Consulting October 28, 2015 Agenda Slide The purpose of a corporate strategic plan Strategy development process

More information

APPENDIX D: HOUSING PROGRAM DIRECTORY

APPENDIX D: HOUSING PROGRAM DIRECTORY APPENDIX D: HOUSING PROGRAM DIRECTORY Table D-1 Housing Rehabilitation Programs 1. HOME MAINTENANCE AND IMPROVEMENT PROGRAM (HMIP) To provide loans to correct health and safety violations, abate code deficiencies

More information

City Planning Heritage Preservation

City Planning Heritage Preservation 1. Planning and Heritage This theme is examining the current built form, policy framework and zoning in the Study Area to help inform the larger Revitalization Initiative. Staff will bring forward recommendations

More information

Multi-family Affordable. Becky Christoffersen, Midwest Housing Development Fund, Inc.

Multi-family Affordable. Becky Christoffersen, Midwest Housing Development Fund, Inc. Multi-family Affordable Housing Capital Solutions Becky Christoffersen, Midwest Housing Development Fund, Inc. Midwest Housing Development Fund, Inc. CDFI since 2000 Revolving loan fund Affordable Housing

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

1 216 BATES, 716 WILSON, 208 BATES 2 208 Bates 3 716 Wilson 4 216 Bates Background 5 History of nuisance complaints and neglect Properties condemned and/or registered vacant for 2-4 years before HRA acquired

More information

Carteret Business Partnership, Inc. (CBP)

Carteret Business Partnership, Inc. (CBP) 1 Carteret, Middlesex County, New Jersey Overview Carteret Borough has a population of 23,367, published by the State of New Jersey - July 2008, and is located in the northern portion of Middlesex County.

More information

Sharswood/Blumberg Choice Neighborhoods HOUSING TASK FORCE WORK SESSION #3

Sharswood/Blumberg Choice Neighborhoods HOUSING TASK FORCE WORK SESSION #3 Sharswood/Blumberg Choice Neighborhoods HOUSING TASK FORCE WORK SESSION #3 TUESDAY, AUGUST 26,2014 HAVEN PENIEL UNITED METHODIST 2301 W OXFORD STREET PHILADELPHIA, PA 19121 1 Welcome SHARSWOOD/BLUMBERG

More information

RESIDENTIAL PROPERTY TAX INCENTIVE PROGRAMS in New York City

RESIDENTIAL PROPERTY TAX INCENTIVE PROGRAMS in New York City RESIDENTIAL PROPERTY TAX INCENTIVE PROGRAMS in New York City A Guide to Basic Program Rules and Eligibility FEBRUARY 2011 ABOUT ENTERPRISE Enterprise is a leading provider of the development capital and

More information

REQUEST FOR PUBLIC COMMENT CITY OF EVANSTON SUBSTANTIAL AMENDMENT NEIGHBORHOOD STABILIZATION PROGRAM 2

REQUEST FOR PUBLIC COMMENT CITY OF EVANSTON SUBSTANTIAL AMENDMENT NEIGHBORHOOD STABILIZATION PROGRAM 2 REQUEST FOR PUBLIC COMMENT CITY OF EVANSTON SUBSTANTIAL AMENDMENT NEIGHBORHOOD STABILIZATION PROGRAM 2 The City of Evanston plans to submit a Substantial Amendment to its Neighborhood Stabilization Program

More information

This is the type so far

This is the type so far This is the type so far This is the type so far Dan Kildee Genesee County Treasurer Chairman/CEO of the Genesee Land Bank President, Genesee Institute This is the type so far What is a Land Bank? A land

More information

Elite Invest, LLC. press kit 2015 INVESTMENT PROPERTY CONSTRUCTION PROPERTY MANAGEMENT C O N T A C T. Leah Kuharevicz Marketing Director

Elite Invest, LLC. press kit 2015 INVESTMENT PROPERTY CONSTRUCTION PROPERTY MANAGEMENT C O N T A C T. Leah Kuharevicz Marketing Director Elite Invest, LLC press kit 2015 INESTMENT PROPERTY CONSTRUCTION PROPERTY MANAGEMENT C O N T A C T Leah Kuharevicz Marketing Director T: 312-690-7711 F: 312-690-7712 www.eliteinvest.com info@eliteinvest.com

More information

PRESERVATION OF AFFORDABLE HOUSING. Housing Affordability, Human Services, and Economic Resiliency Committee Seattle City Council, July 16, 2014

PRESERVATION OF AFFORDABLE HOUSING. Housing Affordability, Human Services, and Economic Resiliency Committee Seattle City Council, July 16, 2014 1 PRESERVATION OF AFFORDABLE HOUSING Housing Affordability, Human Services, and Economic Resiliency Committee Seattle City Council, July 16, 2014 Topics to be covered 2 Affordability and preservation trends

More information

Gustav/Ike Hurricane Recovery

Gustav/Ike Hurricane Recovery Gustav/Ike Hurricane Recovery COMPETITIVE AFFORDABLE RENTAL PROGRAM Program Made Possible By Louisiana Recovery Authority, The Office Of Community Development s Disaster Recovery Unit And U.S. Department

More information

City of Elkhart Neighborhood Revitalization Strategy Area Plan

City of Elkhart Neighborhood Revitalization Strategy Area Plan City of Elkhart Neighborhood Revitalization Strategy Area Plan 2015-2020 NRSA This plan provides information regarding the establishment and amendments to the City of Elkhart s Neighborhood Revitalization

More information

CITY OF FLORENCE NEIGHBORHOOD REVITALIZATION STRATEGY SECOND PUBLIC MEETING

CITY OF FLORENCE NEIGHBORHOOD REVITALIZATION STRATEGY SECOND PUBLIC MEETING CITY OF FLORENCE NEIGHBORHOOD REVITALIZATION STRATEGY SECOND PUBLIC MEETING Prepared for: City of Florence July 7th, 2014 AGENDA Review Feedback from First Community Meeting Present Catalytic Project Areas

More information

COMBINING RESOURCES FOR DOWNTOWN REVITALIZATION

COMBINING RESOURCES FOR DOWNTOWN REVITALIZATION COMBINING RESOURCES FOR DOWNTOWN REVITALIZATION Who We Are... Thoma Development Consultants Bernie Thoma, Senior Consultant Rich Cunningham,CMSM, Program Manager 34 Tompkins St. Cortland, NY 13045 (607)

More information

Jim Provenzale Associate Regional Counsel for Housing Finance and Programs James.V.ProvenzaleIII@hud.gov

Jim Provenzale Associate Regional Counsel for Housing Finance and Programs James.V.ProvenzaleIII@hud.gov Jim Provenzale Associate Regional Counsel for Housing Finance and Programs James.V.ProvenzaleIII@hud.gov Background information on HUD multifamily housing programs Modifications to HUD programs geared

More information

Housing Resource Panel SWOT Analysis Allegheny Places The Allegheny County Comprehensive Plan

Housing Resource Panel SWOT Analysis Allegheny Places The Allegheny County Comprehensive Plan Housing Resource Panel SWOT Analysis Allegheny Places The Allegheny County Comprehensive Plan University Center for Social and Urban Research University of Pittsburgh October 2005 Introduction As part

More information

Tax Advantaged Financing For Historic Buildings. www.urbantrustcapital.com

Tax Advantaged Financing For Historic Buildings. www.urbantrustcapital.com Tax Advantaged Financing For Historic Buildings www.urbantrustcapital.com Presented By Urban Trust Capital Services Tax Credit Equity Capital Advisory Firm Representing Owners, Developers and Nonprofits.

More information

TIF For Affordable Housing

TIF For Affordable Housing TIF For Affordable Housing Presented to Governor s Conference on Affordable Housing Stephen B. Friedman, President How TIF Works 1 Eligibility Basics Blight, Conservation, or Vacant Land Factors 13 Factors

More information

Homeowner Rehab Set Up and Completion Form HOME Program (For single and multi-address activities)

Homeowner Rehab Set Up and Completion Form HOME Program (For single and multi-address activities) U.S. Department of Housing and Urban Development Office of Community Planning and Development Homeowner Rehab Set Up and Completion Form HOME Program (For single and multi-address activities) Check the

More information

2013 Real Estate Report Portland, OR

2013 Real Estate Report Portland, OR Nick krautter, pc Principal Broker 2013 Real Estate Report Portland, OR Market Trends Unique Benefits Distressed Properties Positive Leverage Your real estate team Current Opportunities SellPDX.com Market

More information

III. Focused Issues. 1. Economic Development C I T Y OF P E T E R S B U R G, V I R G I N I A - C O M P R E H E N S I V E P L A N 2 011

III. Focused Issues. 1. Economic Development C I T Y OF P E T E R S B U R G, V I R G I N I A - C O M P R E H E N S I V E P L A N 2 011 III. Focused Issues 1. Economic Development Economic development efforts require a multi-faceted approach to best serve the current workforce, train the next generation, and position the City to adapt

More information

TOD Affordable Housing Preservation Policy Forum. Aaron Miripol, Urban Land Conservancy April 30, 2012

TOD Affordable Housing Preservation Policy Forum. Aaron Miripol, Urban Land Conservancy April 30, 2012 TOD Affordable Housing Preservation Policy Forum Aaron Miripol, Urban Land Conservancy April 30, 2012 Urban Land Conservancy (ULC) was established to acquire, develop and preserve real estate assets in

More information

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 CITY OF NEWARK SECTION 108 LOAN PROGRAM DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 A Program Financed Under the U.S. Department of Housing & Urban Development Section

More information

City of New York Community Development Block Grant Disaster Recovery (CDBG DR) Proposed Amendments to Action Plan

City of New York Community Development Block Grant Disaster Recovery (CDBG DR) Proposed Amendments to Action Plan City of New York Community Development Block Grant Disaster Recovery (CDBG DR) Proposed Amendments to Action Plan Action Plan Amendment 5A On December 27, 2013, the City released a proposed Amendment 5

More information

Low-Income Housing Tax Credits and Planning for Year 15 Presenter Shawn Harrigan, CPA. real estate

Low-Income Housing Tax Credits and Planning for Year 15 Presenter Shawn Harrigan, CPA. real estate Low-Income Housing Tax Credits and Planning for Year 15 Presenter Shawn Harrigan, CPA 1 Virginia Housing Coalition s Virginia Housing Credit Conference Year 15, Ready or Not, here it comes! 2 Overview

More information

How To Fund A Project

How To Fund A Project Real Estate Financing Part Two Filling Gaps / Completing Projects IDA Institute New Orleans, LA February 1, 2009 Gary Ferguson Downtown Ithaca Ithaca, New York Dan Carmody Eastern Market Corporation Detroit,

More information

CLIENTS AND PROJECTS MHCD

CLIENTS AND PROJECTS MHCD Cherie Kirschbaum, President/Founder of City Projects, Inc., is passionate about leveraging real estate for community benefit. City Projects, Inc. provides real estate development advisory services to

More information

Private Proposal. This Private Proposal responds to our Private RFP.

Private Proposal. This Private Proposal responds to our Private RFP. Private Proposal This Private Proposal responds to our Private RFP. This is a sample proposal. Our sample is a proposal from a community-based non-profit organization seeking private foundation funding

More information