This workshop will explore how organizations can utilize various federal, state, and private financing sources combined with innovative ideas to create affordable rural rental housing for veterans, seniors, and families. Participants will learn to analyze project cash flow, maximize private investment, leverage tax credits, and bridge financing gaps.
Presented at a round table of the Commission for Environmental Cooperation and its Trilateral Green Building Construction Task Force during GreenBuild in San Francisco, California, on November 13, 2012.
The Greater Pittsburgh Nonprofit Partnership hosted its 2011 Semi-Annual Membership Meeting on June 22, 2011. Ron Kramer from Schneider Downs presented on the potential changes to charitable deductions. Members Laura Maines, Bernadette Turner, and Dave Coplan provided a PA budget update, an update on our three committees' work, and an introduction to our 2012 dues changes, respectively. Thanks to all, including our Chair, Colleen Fedor and President, Diana Bucco for leading the meeting.
Presented at a round table of the Commission for Environmental Cooperation and its Trilateral Green Building Construction Task Force during GreenBuild in San Francisco, California, on November 13, 2012.
The Greater Pittsburgh Nonprofit Partnership hosted its 2011 Semi-Annual Membership Meeting on June 22, 2011. Ron Kramer from Schneider Downs presented on the potential changes to charitable deductions. Members Laura Maines, Bernadette Turner, and Dave Coplan provided a PA budget update, an update on our three committees' work, and an introduction to our 2012 dues changes, respectively. Thanks to all, including our Chair, Colleen Fedor and President, Diana Bucco for leading the meeting.
Qualitative and quantitative analysis of sustainable banks compared with global systematically important institutions.
The analysis may be not complete and only indicate a small scope of each banks qualities. All figures have been researched and retrieved from publicly available documents. The full report with details can be retrieved on request.
Fairfax County Executive Anthony Griffin presented his proposed budget to the Board of Supervisors on Feb. 22, 2011. More details at http://www.fairfaxcounty.gov/budget
SBA Eases Commercial Real Estate Refinancing RulesChristopher Hurn
Kent Hoover's article for the Orlando Business Journal goes into detail about the 504 loan program. After Hoover explains the basics of the 504 loan program, he quotes me about the upcoming 504 refinancings under the new regulations.
On June 14, 2010, Health & Medicine Policy Research group (HMPRG) hosted a forum, “The State’s Fiscal Crisis: Changing Our Collective Response.” With over 70 attendees, the forum explored the impact of the State’s budget and recent cuts on health and human services in Illinois. Participants heard from panel speakers about how we might collectively respond to the crisis and ensure responsible and adequate funding for education, health, and human services in Illinois. Materials from the forum can be found on the HMPRG website (www.hmprg.org)
Presentation slides for the SMSF Tax Planning webinar presented by Aaron Dunn of the SMSF Academy on 24 April 2013.
With the growing number of self-managed super funds, the need to appropriately plan and take advantage of the various contribution, pension, investment strategy and tax issues all lead to the value of discussing some key tax planning strategies with SMSF trustees.
If you wish to view the webinar recording, this can be purchased for $99 (incl. GST). You can visit the SMSF Academy online store to purchase this recording, https://nq129.infusionsoft.com/app/storeFront/showCategoryPage?categoryId=9
General principles of Periodic Safety Update Reports(PSUR)Psur by Julia Appel...László Árvai
The views and opinions expressed in the following PowerPoint slides are those of the individual presenter and should not be attributed to Bluefish Pharmaceuticals.
Qualitative and quantitative analysis of sustainable banks compared with global systematically important institutions.
The analysis may be not complete and only indicate a small scope of each banks qualities. All figures have been researched and retrieved from publicly available documents. The full report with details can be retrieved on request.
Fairfax County Executive Anthony Griffin presented his proposed budget to the Board of Supervisors on Feb. 22, 2011. More details at http://www.fairfaxcounty.gov/budget
SBA Eases Commercial Real Estate Refinancing RulesChristopher Hurn
Kent Hoover's article for the Orlando Business Journal goes into detail about the 504 loan program. After Hoover explains the basics of the 504 loan program, he quotes me about the upcoming 504 refinancings under the new regulations.
On June 14, 2010, Health & Medicine Policy Research group (HMPRG) hosted a forum, “The State’s Fiscal Crisis: Changing Our Collective Response.” With over 70 attendees, the forum explored the impact of the State’s budget and recent cuts on health and human services in Illinois. Participants heard from panel speakers about how we might collectively respond to the crisis and ensure responsible and adequate funding for education, health, and human services in Illinois. Materials from the forum can be found on the HMPRG website (www.hmprg.org)
Presentation slides for the SMSF Tax Planning webinar presented by Aaron Dunn of the SMSF Academy on 24 April 2013.
With the growing number of self-managed super funds, the need to appropriately plan and take advantage of the various contribution, pension, investment strategy and tax issues all lead to the value of discussing some key tax planning strategies with SMSF trustees.
If you wish to view the webinar recording, this can be purchased for $99 (incl. GST). You can visit the SMSF Academy online store to purchase this recording, https://nq129.infusionsoft.com/app/storeFront/showCategoryPage?categoryId=9
General principles of Periodic Safety Update Reports(PSUR)Psur by Julia Appel...László Árvai
The views and opinions expressed in the following PowerPoint slides are those of the individual presenter and should not be attributed to Bluefish Pharmaceuticals.
Live Music Band Ltd Booking and Management Agency based in London and promoted and owned by Maurizio Della Fortuna. Roster includes: Wunmi Olaiya, Robert Mitchell and Omar Puente, Loretta Grace, Roy Ayers, Larry Graham, Light of the World, Los Amigos Invisibles, Quartaumentata, Margarida Guerreiro, 7 Sois and more...
Debt review presentation qecb-power saver, march 2012HarcourtBrownEF
Matthew H. Brown presented to the Salt Lake County Debt Review Committee about a structural option for using Qualified Energy Conservation Bonds, the proceeds of which would be used to fund energy efficiency loans supported by a Title 1 PowerSaver loan insurance project. The Debt Review Committee sent the proposal on to the County Council with a positive recommendation, subject to a review of certain alternatives.
n today's economy, it's tough for homeowners to find financing for their energy efficiency and renewable energy upgrades. This free workshop introduces a wide variety of residential clean energy financing products for energy efficiency, solar PV and solar thermal installations.
We will also cover current clean energy rebates that also help bring down project and financing costs, improve the customer's ROI and increase the chance for contractor sales. Don't miss this opportunity to ask questions and talk with representatives from financial institutions over a networking lunch. Breakfast will also be provided.
Space is limited, so register soon!
Who Should Attend?
Contractors working in the clean energy industry including:
Home Performance Contactors
Energy Advisors
HVAC Contractors
Insulation Contractors
BPI Certified Professionals
Solar Contractors
Solar Integrators
This workshop will explore how organizations can utilize various federal, state, and private financing sources combined with innovative ideas to create affordable rural rental housing for veterans, seniors, and families. Participants will learn to analyze project cash flow, maximize private investment, leverage tax credits, and bridge financing gaps.
Prepared by the students of corporate finance at the MBA program of IE Business School, this presentation provides an introduction to project finance and analyzes two case studies involving project finance.
Capitalism has a long history of boom and bust, we have to continue to learn by every crisis. Two key problems arose especial in Mega Developments in the region with the soft economy and mix use / market shift, the first being most developments are designed for continuous construction rather than phased and the second most master plans could not be phased efficiently with sustainability issues pushes to the forefront. The Presentation focuses on Developers dilemmas and lessons learned and highlight some of the solutions including cost share and cost recovery mechanisms adopted through a project case study.
Tenants in USDA-financed rentals – the majority of whom are elderly –
depend on their affordable homes, but resources and policies regarding
preservation of these developments are changing. Panelists will discuss
USDA policies as well as strategies for preservation in the current economic
climate.
Motivating commercial customers to actively and consistently apply energy efficient practices is quickly becoming central to many utility business practices. In this installment of the MEEA Technical Webinar series, Mike Presutti and John Lux from Agentis Energy outlined a variety of behavior based energy efficiency programs for commercial customers that are helping utilities accomplish their goals. Information on how utilities are using customer engagement platforms to drive behavior change at their commercial customers was detailed. Viability, process and preliminary results from in-process programs were discussed. Specifics include: The opportunity: Agentis analysis examples and information from 3rd party reports; Customer use and feedback data, plus examples from the field; Measurement methodologies and program projections. (Please note: This is a modified version of the presentation to remove confidential data. For that reason, this presentation is available in slide format only without the additional audio. Though the slides are still marked "Proprietary and Confidential," MEEA has obtained explicit permission from the presenters to post this version of the slides. If you are interested in the full version of this webinar or more information about Agentis' analytical platform, please contact the presenters using the contact information in the final slide.)
John Hartwick, Dawson Holdings, provides information about creating and preserving quality affordable rural housing for seniors using HUD and USDA programs
Heather Pritchard of The Home Depot Foundation (THDF) talks about the foundation's commitment of $80 million over five years to support veterans in need.
Retha Patton, Executive Director of Eastern Eight CDC in Tennessee, on creating affordable housing option for rural veterans. Presentation from the Housing Assistance Councils symposium "Housing Seniors & Veterans in Rural America: Preservation, Development and Services" in Council Bluffs, IA on August 28-29, 2013.
Jane Erickson of the Iowa Department of Aging discusses providing services for seniors in rural communities. Presentation from the Housing Assistance Councils symposium "Housing Seniors & Veterans in Rural America: Preservation, Development and Services" in Council Bluffs, IA on August 28-29, 2013
Nebraska HUD Field Office Director Earl Redrick details HUD programs that can be used to assist veterans and seniors. Presentation from the Housing Assistance Councils symposium "Housing Seniors & Veterans in Rural America: Preservation, Development and Services" in Council Bluffs, IA on August 28-29, 2013
Demographics of Senior and Veteran Housing in Rural America - Housing Assista...Housing Assistance Council
Keith Wiley of HAC presents demographic data on rural seniors and veterans and their housing. Presentation from the Housing Assistance Councils symposium "Housing Seniors & Veterans in Rural America: Preservation, Development and Services" in Council Bluffs, IA on August 28-29, 2013
Jerry Floyd of the Iowa Finance Authority on multifamily housing resources. Presentation from the Housing Assistance Councils symposium "Housing Seniors & Veterans in Rural America: Preservation, Development and Services" in Council Bluffs, IA on August 28-29, 2013
Multifamily Housing Resources for Rural Veterans and Seniors - Jerry Floyd
C8 financing affordable rental projects p pt - russ huxtable
1. 11/20/2012
Milford Housing Development Corporation
Russell Huxtable
Vice President
302-422-8255
rhuxtable@milfordhousing.com
A sample Senior Rental Housing Project
A project is conceptualized
Market study conducted
Plans and specs are drawn
Developer gets financing to pay for
construction and permanent debt
Developer builds apartments
Developer hires a property
management company or self-
manages
Project is operational
1
2. 11/20/2012
Principle Interest Rate
1%
100% 2%
Principle 3%
Operating Costs 4%
5%
Operating
Costs
Gross Rents-Operating Expenses =Net Operating Income
Net Operating Income determines how much is available for
Debt Service (also appraisal)
Debt Service / NOI = DCR
DCR must be greater than 1.0
60% and below median
income for the area, with an
emphasis on those making
less than 50%, 40% and 30%
Our apartments:
Quality construction,
emphasis on energy
efficiency (QAP)
Costs are the costs
2
3. 11/20/2012
PRINCIPLE
Principle Reduction: Principle
• LIHTC
• Equity!
• Federal Home Loan
Bank
• HOME Principle
• DSHA Housing Subsidy
Development Fund
• Fee Waivers
• Other Sources
INTEREST
• HOME
• Interest Deferred
Interest Rates
Loan
• Federal Home Loan
Bank
• 0% forgivable loan Project
USDA
• DSHA Housing
USDA
Development Fund
USDA
• 0-3%, can be
USDA
deferred
• Local CDFI
• Regional CDFI
• USDA 515
OPERATING
Operating Costs Operating Expenses
Reductions:
• PILOT
• Tax deferment
Operating
Revenue Increase: Expense
Tax
• Higher rent Deferment
USDA Rental Assistance
HUD Housing Assistance
Payment
3
4. 11/20/2012
62 years and older (also disabled)
o 36 units
o 30 1 bedroom
o 2 2-bedroom
o Energy Star Construction
o 1,400 square foot community room with
kitchenette, computer, TV and etc.
o Life Trails – age appropriate exercise stations
o Walking trails, gazebos, picnic tables and benches
Principle &
Interest
$5,300,000 Total Development Costs(2007)
LIHTCequity: $2,800,000
DSHA; $1,500,000
o HDF: 3% deferred
o HOME
USDA 515: $1,000,000 (1%, 50 yr. amm)
4
5. 11/20/2012
Operating
Revenue
o How much rent do we charge
o $461 1 bedroom
USDA Rental
o $547 2 bedroom Assistance
o Not a tiered rent situation
Expenses
o 8% management fee, standard
o No other considerations because of LIHTC
• Nonprofit tax exemption not in place
Hurd’s Crossing is a success story for Rural Seniors.
Low Income Housing Tax Credit
o Equity for deals
Follows the Qualified Allocation Plan for the
State
o State makes its rules
o Emphasizes the State’s needs through category
point allocations
o Standards of construction
o Sets the table
• Example: NO developments within ¼ mile of Railroad
tracks (point deduction)
5
6. 11/20/2012
2012 LIHTC Project for Seniors
o 36 units of new construction, 28 units of rehab
o $9.4 million in TDC
o Awarded $660,000 in LIHTC
o The only missing piece, USDA 515
• Strong application with 90% of other funds committed
o QAP issues
• In DE for senior complexes at least 50% of the units
must have rental assistance, if not, the project does
not meet threshold
What happens now
Sunk costs
o Market study
o Appraisal
o Application fees
o Architect fees
o $30-$40,000 investment
A 2013 LIHTC prospective applicant
Thank you!
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