AVONDALE (CINCINNATI) CHOICE NEIGHBORHOOD INITIATIVE THE COMMUNITY BUILDERS, INC
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1 AVONDALE (CINCINNATI) CHOICE NEIGHBORHOOD INITIATIVE THE COMMUNITY BUILDERS, INC
2 CONTEXT NY group portfolio Housing Distress Average REAC score: 29 Significant disrepair; health/life safety hazards Press coverage of sick building syndrome and effect on resident children Neighborhood Distress Several buildings identified as crime hot spots and/or on City chronic nuisance list Severe isolation of residents from community Stress on housing market, n hood stability Resident Distress Nonexistent housekeeping Addiction/substance abuse; illegal activity Little or no furniture or supplies Children at home during school hours
3 CONTEXT about Avondale 12,500 people 90% black or African-American 7500 housing units (25% vacant) 24% of occupied units owner occupied Median household income: $18,120 No grocery store, pharmacy or laundromat
4 CONTEXT Avondale
5 CONTEXT NY group portfolio
6 CONTEXT housing investment
7 CHOICE target housing
8 CHOICE community partners
9 CHOICE neighborhood investments
10 CHOICE development impact
11
12 CHOICE objectives Housing: Rehab 140 assisted units; develop 318 total units Renovate key vacant lots and buildings Neighborhood: Reduce patterns of physical deterioration revitalize business district strengthen connection to Uptown District connect park and recreation resources improve public safety People: Increase participation in early learning expand healthy living and financial literacy programming connect residents with area jobs create arts and culture programming
13 DATA DRIVEN integration LEAD GRANTEE, HOUSING LEAD, PROPERTY MANAGER EVALUATION SERVICE PROVIDERS PEOPLE LEAD NEIGHBORHOOD & OUTREACH EDUCATION HEALTH / HEALTH BEHAVIOR
14 DATA community dashboard
15 Being poor can make you sick. Where you work, the air you breathe, the state of your housing, what you eat, your levels of stress and your vulnerability to crime, injury and discrimination all affect your health. These social determinants of health lie outside the reach of doctors and nurses. When Poverty Makes You Sick, a Lawyer Can Be the Cure, New York Times. July 17, 2014 Fannie Mae foreclosed on all 19 by the end of July. Legal Aid helped tenants to organize and have a voice in the foreclosure process among other things, they wanted to make sure that the buildings remain subsidized housing. Ultimately that pressure resulted in widespread repairs, and helped persuade Fannie Mae to sell the buildings to Community Builders, a Boston-based nonprofit that develops and operates good low-income housing (which is maintaining the subsidies). Reconstruction is about to start.
16 Near East Side/Poindexter Village PACT Neighborhood Choice Neighborhoods Implementation Grant Julie DeGraaf Velazquez Vice President, Project Manager McCormack Baron Salazar
17 The Columbus Choice Neighborhood: Near East Side
18 Built on Solid Foundations PACT A partnership of CMHA, OSU, and City of Columbus to revitalize the Near East Side neighborhood Poindexter Village A 414-unit distressed public housing site in the Near East Side neighborhood Near East Side Blueprint Detailed investment strategy developed with extensive community participation
19 Three Components of Choice Housing Redevelopment of the Poindexter Village public housing site with new, mixedincome housing; Replacement public housing 70% of Choice funds People Supportive services, education, and case management, with a focus on former and future Poindexter Village residents. 15% of Choice funds Neighborhood Investments in the Near East geography, including economic development, jobs, homeownership, infrastructure, safety, community facilities. 15% of Choice funds
20 Leads and Leverage Housing Lead: McCormack Baron Salazar-CMHA Joint Venture Choice: $21 Million Local Leverage: $64 Million People Leads: Urban Strategies; Columbus City Schools (Education) Choice: $4.5 Million Local Leverage: $60 Million Neighborhood Lead: City of Columbus Choice: $4.5 Million Local Leverage: $102 Million
21 What Choice Brings to Poindexter/Near East Side
22 Features of the Housing Strategy
23 Poindexter Village Master Plan
24 Mixed-Income, Multi-Generational Housing Senior
25 What Choice will Bring to Poindexter/Near East Side
26 What Choice will Bring to Poindexter/Near East Side
27
28 An online, searchable catalog of state and local affordable housing preservation policies 2014 Ohio Housing Conference November 5, 2014 Preservation in Ohio Tracy Kaufman Director, National Preservation Initiative National Housing Trust
29 National Housing Trust The National Housing Trust protects and improves existing affordable rental homes so that low income individuals and families can live in quality neighborhoods with access to opportunities. NHT engages in public policy development and advocacy that is informed by practice and experience through on the ground real estate development and lending. o o o o NHT-Enterprise: Partners with investors and local developers to buy and renovate affordable apartments. Preserved 5,300 affordable apartments. NHTCDF: Lends early money to developers to help them purchase and renovate affordable apartments. Helped to preserve over 6,000 apartments. Institute for Community Economics: Lends for permanently affordable homeownership with capital from socially responsible investors. Facilitated development of over 4,500 homes in 30 states. NHT Policy Team: Educates federal, state & local policymakers of the need to dedicate resources towards the revitalization of existing affordable apartments.
30 Background History Goals Audience Programs & Policies Flexibility Future growth
31 Demonstration
32 Next Steps Ongoing update & expansion of programs & policies Expansion of pre-set categories Development of my catalog Incorporation of additional infographics Additional national trends, state charts, etc. Widget & RSS Feed
33 Contact Us To suggest material for PrezCat, submit to: Join the conversation! #prezcat Tracy Kaufman Director, National Preservation Initiative National Housing Trust , ext. 129
34 Rental Assistance Demonstration David Burg, PIRHL Developers
35 Preservation via RAD Policy Goals for RAD RAD Program Mechanics Pros & Cons for Housing Authorities Case Study: Coopermill Manor Current Status of RAD... What is RAD?
36 Policy Goals for RAD Address $24K/unit average capital needs backlog Stem loss of 10,000 15,000 hard units / year Maintain affordability of federally assisted rental properties Improve physical and financial position of these properties Bring private market discipline to public housing Paradigm shift: Attempted permanent removal of ACC-funded units
37 RAD Program Mechanics Swap Public Housing subsidies for long-term project-based Section 8 contract Lever new contract to raise private equity, debt and other public funds today De-federalize public housing properties PBV vs. PBRA decision impacts CHAP rents Right of Return; Choice Mobility
38 Source: HUD
39 Pros: Pros and Cons for PHAs Stabilize funding streams Address an increasingly suffocating backlog of capital needs Preserve affordable units vs. demo and vouchering out Serve community with greater operational flexibility for PHAs Cons: RAD is not a panacea; doesn t work for all PHAs Paradigm shift perceived loss of operational control Significant investment of time and resources to convert Political pressures; impact to staff & organization
40 Case Study: Coopermill Manor
41 Case Study: Coopermill Manor 342-unit property of Zanesville MHA, built in Represents 48% of ZMHA s 674-unit public housing portfolio 59 residential buildings on a 32-acre campus; 0 to 3-bedroom units Brick on block, 2-story construction; well maintained by ZMHA Housing of last resort for down-on-luck working class Historically 99%+ occupied Safe community; ZMHA pays all utilities
42 Coopermill Manor: Site Plan
43
44 Coopermill Manor: Photos
45 Coopermill Manor: Photos
46 Coopermill Manor: Photos
47 Coopermill Manor: Photos
48 Coopermill Manor: Photos
49 SOURCES amount per unit % FHA 221(d)4 Loan 9,165,041 28,287 26% ZMHA Seller Note 10,700,000 33,025 31% Tax Credit Equity - 4% Equity 7,668,979 23,670 22% Tax Credit Equity - 4% Acquisition 2,741,464 8,461 8% OHFA Bond Gap Financing 750,000 2,315 2% ZMHA Contribution 450,000 1,389 1% Deferred Development Fee 2,739,902 8,456 8% Interim Income 531,789 1,641 2% Total: 34,747, , % USES amount per unit % Construction Costs 14,227,801 43,913 41% Soft Costs 719,541 2,221 2% Construction Financing & Charges 1,108,620 3,422 3% Permanent Financing Fees 644,378 1,989 2% Land & Building Acquistion 10,700,000 33,025 31% Project Reserves 1,952,534 6,026 6% Developers Fee 5,394,300 16,649 16% Total: 34,747, , %
50 299 moderate scope of rehab Bathrooms, kitchens, lighting, plumbing, painting, storm windows, storm doors, floor repair, plugs and switches, radon removal systems Exterior lighting, roof cleaning, lintels, tuck-pointing, sanitary main lines, sanitary and water lateral repairs, concrete repair, boiler replacement 25 gut-rehabbed to create 17 ADA units HC accessible parking Accessible routes and new site work Recapitalization $1 million ops reserve; $190K average R4R in Years 1 20; $450K transformation rsv; tax abatement in perpetuity; actual cash flow; etc. Management fees; developer fees
51 Current Status of RAD Communities are wondering how they can preserve their public housing in this tough fiscal climate. The answer for many of them is HUD s Rental Assistance Demonstration initiative We ve received applications to convert over 180,000 units of public housing. But we re in danger of losing momentum because our current authority is limited to 60,000 units. We ve asked Congress to lift the cap in our FY2015 budget request. The affordable housing crisis is growing. RAD is part of the solution. - HUD Secretary Julian Castro 9/16/14 at BPC s Housing Summit
52 Rental Assistance Demonstration David Burg, PIRHL Developers
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