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Housing Development Assistance Program (HDAP)
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Housing Development Assistance Program (HDAP)

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  • 1. The Ohio CDC Association presents Nuts & Bolts of Asset Management: Performance Standards (Intermediate Asset Management) A two (2) day workshop for CHDO staff who seek to analyze the performance of their portfolio to guide their asset and property management decisions. June 1-2, 2005 & Preparing for Year 15 – The Big Picture A one (1) day workshop for CHDO staff who want to be ready when a project in their community or in their portfolio nears Year 15 June 3, 2005 Marriott Fairfield Inn & Suites 3031 Olentangy River Road Columbus, Ohio 43202 Sponsored By: (through the CDC Grant Program of the Ohio Housing Trust Fund) The U.S. Department of Housing and Urban Development The Herbert Peterson Fund
  • 2. Nuts and Bolts of Asset Management -- Intermediate Asset Management is an intermediate level, two- (2) day workshop, targeted to CHDOs and other affordable housing developers who are currently engaged in asset management or expect to be more involved in asset management in the future. The training will be held on June 1-2, 2005 in Columbus, Ohio at the Marriott Fairfield Inn & Suites at 3031 Olentangy River Road, Columbus, Ohio, 43202. Participants will be asked to bring a copy of an internally produced 12/31/04 balance sheet and an income statement for ONE of their real estate projects. (If absolutely necessary, an audit may be substituted for the internally produced balance sheet.) In addition, participants should bring a copy of their project’s original proforma or tax credit partnership closing proforma and a calculator. (If participants are planning to attend both the Nuts and Bolts Training and the Year 15 workshop, they may bring the same documents for both classes.) Participants will be asked to complete a short assessment on the first and last days of the class to measure learning outcomes resulting from the training. Preparing for Year 15 – The Big Picture is an intermediate level, one- (1) day workshop, targeted to CHDOs and other affordable housing developers who are analyzing their anticipated role in a housing credit project that is coming to the end of their 15 year compliance period with OHFA. The training will be held on June 3, 2005 in Columbus, Ohio at the Marriott Fairfield Inn & Suites at 3031 Olentangy River Road, Columbus, Ohio, 43202. Participants should select one housing tax credit project and bring a copy of the project’s partnership agreement, restrictive covenant, tax credit partnership closing proforma and the most current audit for the project. In addition, participants should bring a calculator. (If participants are planning to attend both the Nuts and Bolts Training and the Y-15 workshop, they may use the same project for both classes.) Participants will be asked to complete a short assessment at the start of this class to measure learning outcomes resulting from the training. The Trainer Laura Junglas is the trainer for the Nuts and Bolts of Asset Management -- Intermediate Asset Management Workshop and Preparing for Y-15 – The Big Picture. Ms. Junglas has worked in the nonprofit sector for over 20 years. She has worked in local and national nonprofits, providing management and technical assistance to small business owners and CDC directors. Ms. Junglas also worked for a Cleveland-based local intermediary that provides technical assistance and grant funding to a network of 26 CDCs. She coordinated an Asset and Property Management program while there and also assisted in the development of performance standards for the Cleveland CDCs. Since 2000, Ms. Junglas has been an independent consultant providing services in the areas of interim management, training, organizational development and community revitalization. Thank you to our Generous Donors! Sponsors for Nuts and Bolts of Asset Management -- Intermediate Asset Management and for Preparing for Y-15 – the Big Picture, are The Ohio Department of Development (through the CDC Grant Program of the Ohio Housing Trust Fund), The Columbus Foundation, the U.S. Department of Housing and Urban Development and National City Bank. Their support enables the Ohio CDC Association to continue bringing quality training and technical assistance to CDCs, nonprofit housing organizations and their partners. About Us: The Ohio CDC Association is a statewide membership organization of community development corporations that engages in capacity building, advocacy and public policy development that fosters socially and economically healthy communities. For more information, see www.ohiocdc.org.
  • 3. Training Overview Workshop I -- Nuts and Bolts of Asset 8:00 a.m. - Registration Management – Intermediate Level 9:00 to 4:30 p.m. - classroom, lunch provided Training June 1-2, 2005 Description: This session will assist current and prospective CHDOs and nonprofits in learning more about Asset Management and crucial Performance Standards such as those informed by vacancy rates and turn-over rates. They will explore the importance of performance standards, what they are and how to calculate them, and about “best practices” employed by other CDCs engaged in monitoring the performance of their portfolios. Participants will be asked to come to class with a copy of an internally produced 12/31/04 balance sheet and an income statement for ONE of their real estate projects. (If absolutely necessary, an audit may be substituted for the internally produced balance sheet.) In addition, participants should bring a copy of their project’s original proforma or tax credit partnership closing proforma and a calculator. Day 1 • Pretest • Critical ratios – what are they, how • Defining Asset and Property management they are used and calculated, who uses • The Asset Management Plan them and for what purpose • The Real Estate Development Process and o Examples include: Rent where performance standards fits in the collection, occupancy rate, cycle delinquency rate • Defining Performance Standards • A Case Study • Interpreting Financial Statements o What can we learn about portfolio management? Day 2 • Review of Day 1, Questions • Other Tracking and Reporting • Review of Homework Activities • A Case Study – continued o Deciding to self-manage or • Calculating Performance Standards contract out • Guest Speaker(s) or Panel -- To be o What to look for in assessing announced at training self (internal) or third-party management o Property Management Plans o Maintenance Plans o Risk review • Post Test • Evaluation
  • 4. 8:00 a.m. - Registration Workshop II – Year 15 – The Big Picture June 3, 2005 9:00 to 4:30 p.m. - classroom, lunch provided Description: This session will help participants prepare for Year 15. There are a number of considerations and timetables that affect the role and outcome of CHDOs and potential CHDOs in properties that are reaching the end of their 15-year compliance period. This course will help your organization prepare itself for owning a Year 15 property or disposing of it. Participants should bring a copy of a tax credit project’s partnership agreement, restrictive covenant, tax credit partnership closing proforma and the most current audit for the project. If attending both trainings, you can use the same project for both courses. Topics: • Pre-Test • Policy Issues – continued • Who are the stakeholders? 6. Heir issues o What are their goals, 7. Right to lease non-renewal considerations and interest in 8. Tenant readiness program this process? 9. Maintenance • Gathering and reviewing critical 10. Capital improvements documents 11. Marketing to residents o Partnership Agreement 12. Implementation of Option agreement o Closing Proforma (in house) or contract out with third o Restrictive Covenant party o Loan documents • OHFA issues o Audit o Waiver request o Tax Return o Compliance issues o 8609 • Disposition Plan • The Property Analysis o Budget o Purchasing It o Timeline o Selling o Extended compliance periods o Dealing with debt o Title Issues • Post Test o Exit Taxes • Evaluation • Policy Issues 1. Commitment to selling units to lease purchase families yet desire for maximum purchase price 2. Reflecting the cost of unit in sale price 3. Residency credit 4. Affordability – what debt and income ratios will be targeted? 5. Implementation Time Frame
  • 5. What to Bring – Nuts & Bolts of Asset Management Performance Standards (Intermediate Asset Management) and Preparing for Year 15 – The Big Picture will require the use of a calculator. All participants are asked to bring a calculator to class. In addition, participants in Nuts & Bolts should bring an internally prepared balance sheet and income statement (NOT an audit unless absolutely necessary) as of 12/31/2004 for a selected real estate project and a copy of their project’s original proforma or tax credit partnership closing proforma. Participants in Preparing for Year 15 should bring a copy of a tax credit project’s partnership agreement, restrictive covenant, tax credit partnership closing proforma and the most current audit for the project. If attending both trainings, you can use the same project for both courses. Schedule Registration will begin each day at 8:00 a.m., with the training beginning promptly at 9:00 a.m. and ending at 4:30 p.m. The instructor will be available at 8:00 a.m. to answer specific questions or help with homework. Training Site The training will take place in Columbus at the Marriott Fairfield Inn & Suites, 3031 Olentangy River Road, Columbus, Ohio 43202. A block of sleeping rooms has been reserved for the Nuts & Bolts of Asset Management Performance Standards (Intermediate Asset Management) and Preparing for Y-15 – The Big Picture workshops. Participants will receive a rate of $74.00 plus tax, per night. For reservations, please contact the hotel directly at 614-267-1111. For other accommodations in the area, contact University Plaza Hotel – 614-267-7461 or the Red Roof Inn – 614-267-9941. Registration Fees: Registration fees for the Nuts & Bolts of Asset Management Performance Standards (Intermediate Asset Management) and Preparing for Y-15 – The Big Picture workshops include continental breakfast, lunch, and afternoon snack. Registration fees vary depending on whether a participant is a member of OCDCA. Cost for Nuts & Bolts of Asset Management Performance Standards (Intermediate Asset Management) • If your organization is an Ohio CDC Association member, your course fee is $130.00. • If your organization is not an Ohio CDC Association member, your course fee is $170.00 Cost for Preparing for Y-15 – The Big Picture • If your organization is an Ohio CDC Association member, your one-day course fee is $65.00. • If your organization is not an Ohio CDC Association member, your course fee is $85.00 Special discount to attend all 3 days: • If your organization is an Ohio CDC Association member, your combined three-day course fee is $180.00. ($15 discount) • If your organization is not an Ohio CDC Association member, your combined three-day course fee is $240.00 ($15 discount) To become a member of the Ohio CDC Association, contact Celia Elkins, Director of Membership Services, at (614) 461-6392.
  • 6. To Register for the Workshop(s): Step 1: Fax your registration form to 614-461-1011. Step 2: Mail your registration form and payment to our postbox: Ohio CDC Association, C/o Asset Management and Year 15 workshops, Dept. 22, P.O. Box 182039, Columbus, OH 43218-2039. Deadline for Registration: May 26, 2005. A late fee of $20 will be assessed for registrations received after the deadline. No refunds will be given for registrations canceled within five business days prior to the start of each series. No-shows will be billed for the full registration fee. Scholarships For Columbus CHDOs and CDCs: Full tuition scholarships for the two workshops are available through the generous support of The Columbus Foundation. For tuition scholarship information, contact Celia Elkins, Director of Member Services, at (614) 461-6392 ext. 201 or email her at celkins@ohiocdc.org. Be sure to note your request for a scholarship on the registration form. For all other CHDOs and CDCS: Partial tuition scholarships are available, thanks to National City Bank. Contact Celia Elkins, Director of Member Services, at (614) 461-6392 ext. 201 or email her at celkins@ohiocdc.org. Be sure to note your request for a scholarhip on the registration form. Be sure to note your request for a scholarship on the registration form. For More Information: Please contact Celia Elkins, Director of Member Services, at 614-461-6392 ext. 201 or via email at celkins@ohiocdc.org. Questions about the agenda or readiness assessment should be directed to Mary Rogers, Director of Programs, at 614-461-6392 ext. 204 or via email at mrogers@ohiocdc.org. You may also visit us online at www.ohiocdc.org. 2005 OCDCA Training and Events Calendar Visit our website at http://www.ohiocdc.org/training.htm for any changes, updates and information about times, location, registration or for info about CED, AFIA, IDA and Microenterprise Training. Class Title Class Dates Housing Development Assistance Program (HDAP) June 27-28 (Cincinnati) July 12-13 (Cleveland) CHDO Operating Standards July 27-28 Beyond Basic Skills: Project Development Sept. 7, 8 & 9, Oct. 18-19, Nov 15-16 Introduction to Asset Management September 20-21 OCDCA Annual Conference November 2-4
  • 7. The Ohio CDC Association REGISTRATION FORM 2005 Nuts & Bolts of Asset Management Performance Standards and Preparing for Y-15 – The Big Picture Complete one registration form for each person registering. You may reproduce this form as needed. Name _______________________ Organization ___________________________ Title: _________________________ Address ____________________________________________________ City, State, Zip__________________________ Phone______________________________ Fax___________________________ Email___________________________ Are you a CHDO? Y or N Any dietary, mobility or training issues? __________________________________ WORKSHOP FEES AND PAYMENT INFORMATION (Select 1)  Register me for Nuts & Bolts of Asset Management Performance Standards (Intermediate Asset Management) (June 1-2, 2005) (Circle one) Member of OCDCA $ 130 Nonmember of OCDCA $ 170  Register me for Preparing for Y-15 – The Big Picture (June 3, 2005) (Circle one) Member of OCDCA $ 65 Nonmember of OCDCA $ 85  Register me for BOTH Nuts & Bolts of Asset Management Performance Standards (Intermediate Asset Management) and Preparing for Y-15 – The Big Picture (June 1-3, 2005) $15 discount (Circle one) Member of OCDCA $ 180 ($15 off) Nonmember of OCDCA $ 240 ($15 off) To become a member of the Ohio CDC Association, contact Celia Elkins, Director of Member Services, at (614) 461-6392, or email her at celkins@ohiocdc.org. Total amount enclosed ______________ Check number ____________ Deadline for Registration: May 26, 2005. A late fee of $20 will be assessed for registrations received after the deadline. No refunds will be given for registrations canceled within five business days prior to the start of the program. Please sign the photographic release below, complete this page and fax this page to 614-461-1011, then mail your signed registration and payments to: Ohio CDC Association, Asset Management and Y-15 Training. No refunds will be given for registrations canceled within five business days prior to the start of the program. Photographic Release: I hereby grant the Ohio CDC Association permission to use my likeness in a photograph in any and all of its publications, including website entries without payment or other consideration. I authorize Ohio CDC Association to edit, alter, copy, exhibit, publish or distribute this photo for purposes of publicizing Ohio CDC Association programs or for any other lawful purpose related to conducting Ohio CDC’s business. In addition, I waive the right to inspect or approve the finished product, including written or electronic copy, wherein my likeness appears and I waive any rights to royalties or other compensation arising or related to the use of the photograph. I am 21 years of age and am competent to contract in my own name. Signature: _______________________________________________________________Date: ______________________
  • 8. Nuts & Bolts of Asset Management Performance Standards (Intermediate Asset Management) June 1-2, 2005 Preparing for Year15 – The Big Picture – June 3, 2005 Columbus, Ohio 43202 Sponsored By: (through the CDC Grant Program of the Ohio Housing Trust Fund) The U.S. Department of Housing and Urban Development The Herbert Peterson Fund