A3 successful rural affordable housing development billie heath

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The goal of any affordable housing developer is to provide housing opportunities for families, seniors, and veterans at the bottom of the economic ladder. This session will provide an overview from experienced developers, including how to nail down the concept, inspect feasibility, assemble the money, cement construction, and deliver qualified renters or homebuyers.

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A3 successful rural affordable housing development billie heath

  1. 1. Affordable Housing Development Housing Rehabilitation National Rural Housing Conference 2012
  2. 2. Types of RehabilitationOwner Occupied Contractor Self-HelpAcquisition Rehab Sawyer Street Project
  3. 3. Before Rehab…
  4. 4. After Rehab…
  5. 5. Case Studies Self-Help Home Improvement Project (SHHIP) Campesinos Sin Fronteras Northern Rocky Mountain RC & D Homes First!
  6. 6. SHHIP Location- Redding , California TA Costs - $8,250 Equivalent Unit Calculation  Paid on draw system determined with RD based on progress  TA per unit is averaged over total # of units  Some jobs will be $7,500 jobs and others $40K jobs Construction Funding – Need based  Leveraging multi-funding sources including Pacific Gas & Electric, Weatherization program, CDBG, RD-HPG 533, Dept of Energy, LIHEAP, RD 504 Loans & Grants Sweat Equity  65% of the labor done by families Comparable Cost Savings  Computer software, “National Home Improvement Estimator” uses union carpenter wages to determine comparable contractor costs
  7. 7. Campesinos Sin Fronteras Location- Somerton, Arizona TA Costs $6,818.18 per unit Equivalent Unit Calculation  Negotiated price with RD, less than new construction per unit cost Construction Funding  CDBG, HOME, RD 306c loans and grants (Colonias areas), 504 loans and grants (mostly grants), & RD 533 Housing Preservation Grant (HPG) funds. Sweat Equity  Focused on the COST savings not the labor % Comparable cost savings  Contractor quote or rehab specialist estimate  Compare to contractor’s bids excluding family labor
  8. 8. Campesinos rehab BEFORE
  9. 9. Campesinos rehab AFTER
  10. 10. Northern Rocky Mountain RC&D Location- Bozeman, Montana TA Costs - $5,246.10  Paid as .10 Loan Application, .30 Home Audit, .10 Loan Closing & .50 Job Completion Equivalent Unit Calculation  Based on other Rehab program model using average costs Construction Funding  RD 533 Housing Preservation Grant, HOME funds, RD 504 Grants (minimal 504 loans) Sweat Equity  Family contribution & volunteer time calculated at $10 per hour/ Professional fee $50 per hour Comparable cost savings  Actual contractor bids and Rehab specialist estimates
  11. 11. Northern Rocky Mountain RC&D BEFORE
  12. 12. Northern Rocky Mountain RC&D AFTER
  13. 13. BEFORE…
  14. 14. AFTER…
  15. 15. Homes First! Community Housing Development Organization (CHDO) 26 Structures and 46 Units Sawyer Street  Partnership with Kokua  HUD home  Funding  Pro Forma  Volunteers
  16. 16. Before
  17. 17. After
  18. 18. For more informationContact: Billie Heath Rural Community Assistance Corporation bheath@rcac.org (360) 493-2260 or (360) 970-4093

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