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Financing Affordable and Workforce Housing<br />Partners in Innovation <br />National Symposium<br />September 27, 2010<br...
DHA Approach to Mixed-Income HousingHousing Today<br />
Financing Options/Tools<br />Low-Income Housing Tax Credits<br />New Market Tax Credits<br />Regional Transportation Distr...
Financing Options/Tools<br />Low-Income Housing Tax Credits<br />New Market Tax Credits<br />Regional Transportation Distr...
Three TowersIntegration of Capital Fund Financing Program, LIHTC, and Energy Performance Contracting<br />
Three Towers<br />
Park Avenue Redevelopment Block 5B<br />Park Avenue Phase 5 Estimates<br />90 Units<br />LEED NC<br />LEED ND<br />Green C...
Park Avenue Solar Analysis<br />100 kW System – Goal: Cover Significant Building Electrical Demand<br />Total System Value...
South Lincoln Redevelopment<br />
1099 Osage: Phase I of the South Lincoln Redevelopment<br />Funding Sources: <br />		CFRC (Stimulus)<br />		Low Income Hou...
Stormwater Approach<br />Storm Water Quality Legend<br />Storm Water Detention<br />Water Quality Gardens<br />Savings Est...
Urban Land ConservancyTransit Oriented Development Line of Credit Summary of Terms and Conditions<br />
Bringing it TogetherLivability Principles  HUD/DOT/EPA<br />Provide More Transit Choices<br />Promote Equitable, Affordabl...
Going Further What is Sustainable?<br />Sustainable =              +              +               +               +<br /> ...
Denver HDMT	<br />Elements and Objectives<br />
Grants/Foundations - Chasing It in New Ways<br />Grants<br />DOT Tiger II Planning <br />HUD Community Challenge<br />HUD ...
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Denver 9/27 Chris Parr

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Presentation from Partners in Innovation Policy Forum in Denver, CO on September 27, 2010.

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  • Needed a total of $27.5 million in PAB to meet 50% test. CFFP Bond/PAB - $14,600,000Size dictated by perm financing gapConstruction Loan/PAB - $12,750,000 Construction loan sized to fill approximately 55%EPC Lease Finance/PAB - $4,000,000Size dictated by energy savings capacityHad the option to not use Bond Cap on this, but would have then needed to increase the construction loan and thus construction interestDHA Purchase Loan - $11,150,000Needed to bridge equity installmentsHad agreed to late timing of equity before fully comprehending the structure of the purchase of the buildingsDHA Program Funds Loan - $3,600,000Indirectly linked to sale proceedsCould not use the full proceeds at sale anyway as we needed to have PAB funding for the 4% LIHTCPaul will discuss these last two more in a minute
  • Objectives under each element.The HDMT includes over 130 indicators.
  • Transcript of "Denver 9/27 Chris Parr "

    1. 1. Financing Affordable and Workforce Housing<br />Partners in Innovation <br />National Symposium<br />September 27, 2010<br />Chris Parr<br />Director of Development<br />Denver Housing Authority<br />
    2. 2. DHA Approach to Mixed-Income HousingHousing Today<br />
    3. 3. Financing Options/Tools<br />Low-Income Housing Tax Credits<br />New Market Tax Credits<br />Regional Transportation District Bond Project<br />Tax Increment Financing<br />Energy Tax-Credits<br />Improvement Districts<br />Denver Better Bonds<br />Property Tax Exemption<br />Urban Land Conservancy<br />TOD Fund<br />HUD<br />DOT<br />EPA<br />City Skyline Fund<br />HOME/CDBG (City/State)<br />Inclusionary Zoning<br />CHFA TOD Incentive Scoring<br />CFFP/EPC<br />Department of Health<br />Foundations<br />Everything<br />
    4. 4. Financing Options/Tools<br />Low-Income Housing Tax Credits<br />New Market Tax Credits<br />Regional Transportation District Bond Project<br />Tax Increment Financing<br />Energy Tax-Credits<br />Improvement Districts<br />Denver Better Bonds<br />Property Tax Exemption<br />Urban Land Conservancy<br />TOD Fund<br />HUD<br />DOT<br />EPA<br />City Skyline Fund<br />HOME/CDBG (City/State)<br />Inclusionary Zoning<br />CHFA TOD Incentive Scoring<br />CFFP/EPC<br />Department of Health<br />Foundations<br />Everything<br />-DHA Redevelopments<br />-Denver Local Innovation<br />-Livability Principles<br /> Grants<br /> Foundations<br />
    5. 5. Three TowersIntegration of Capital Fund Financing Program, LIHTC, and Energy Performance Contracting<br />
    6. 6. Three Towers<br />
    7. 7. Park Avenue Redevelopment Block 5B<br />Park Avenue Phase 5 Estimates<br />90 Units<br />LEED NC<br />LEED ND<br />Green Communities<br />Code Const Cost 15,200,000<br />Pilot Savings (620,000)<br />Bldg w/ Pilot 14,580,000 <br />Green Premiums 877,000<br />Rebates (418,520)<br />Grants (162,000)<br />Prem less Reb/Gr 296,480<br />Bldg w/ Pilot plus Green Prem<br /> 14,876,480<br />Avg Payback 7 years<br />
    8. 8. Park Avenue Solar Analysis<br />100 kW System – Goal: Cover Significant Building Electrical Demand<br />Total System Value $616,000<br /> Solar Rebate ($198,720) Considerations: - Need 12-14,000 sf mounting space<br /> Initial Capital Requirement $417,603 - Other Building Systems<br /> Federal Investment Tax Credit ($184,800)<br />Final Capital Requirement $232,803 Payback Year 7<br />
    9. 9. South Lincoln Redevelopment<br />
    10. 10.
    11. 11. 1099 Osage: Phase I of the South Lincoln Redevelopment<br />Funding Sources: <br /> CFRC (Stimulus)<br /> Low Income Housing Tax Credit Equity<br /> DHA Developer Fee<br /> Denver Better Bonds<br /> Denver Skyline Funds<br /> Denver HOME<br /> Denver CDBG<br /> Denver Land<br /> RTD Station Participation/Bike Share<br /> Xcel Rebate Program<br />“Green” Efforts/Funding<br />Tracking LEED Platinum, <br />Enterprise Green Communities, <br />Offsetting 50% of wastewater, energy, and water consumption<br />Photovoltaic/Geothermal (Energy Tax Credits) <br />EPA Study Grant<br />Greywater Pilot<br />Smoke Free Housing study<br />
    12. 12. Stormwater Approach<br />Storm Water Quality Legend<br />Storm Water Detention<br />Water Quality Gardens<br />Savings Est.: $3,000,000<br />MITHUN<br />SOUTH LINCOLN REDEVELOPMENT MASTERPLAN <br />
    13. 13. Urban Land ConservancyTransit Oriented Development Line of Credit Summary of Terms and Conditions<br />
    14. 14.
    15. 15. Bringing it TogetherLivability Principles HUD/DOT/EPA<br />Provide More Transit Choices<br />Promote Equitable, Affordable Housing<br />Enhance Economic Competitiveness<br />Support Existing Communities<br />Coordinate and Leverage Federal Policies and Investment<br />Value Communities and Neighborhoods<br />Incorporate at the Site Level<br />Interagency Collaborative<br /> EPA Grant<br />Incorporate at the Area Level<br />Incorporate at the Corridor Level<br />
    16. 16. Going Further What is Sustainable?<br />Sustainable = + + + +<br /> Green<br />The greatest way to go Green is to be SUSTAINABLE<br />
    17. 17. Denver HDMT <br />Elements and Objectives<br />
    18. 18. Grants/Foundations - Chasing It in New Ways<br />Grants<br />DOT Tiger II Planning <br />HUD Community Challenge<br />HUD HOPE VI<br />HUD Choice Neighborhoods<br />HUD Healthy Homes<br />USDA Hunger Free Com<br />EPA Design Assist<br />Governor’s Energy Office<br />Department of Health<br />Public Works Coupling<br />Geothermal/Solar/Wind/Greywater<br />Local Utility Incentives<br />Foundations<br /> Ford<br />DHA/City/ ULC/Enterprise/Non-Profits <br /> MacArthur<br />DHA/City/ULC/Enterprise/Others<br /> Local<br /> Colorado Health Foundation<br /> Health Organizations<br />
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