HomeMy WebLinkAboutAffordable Housing Board - Minutes - 03/26/2015MINUTES
CITY OF FORT COLLINS
AFFORDABLE HOUSING BOARD
Special Meeting: Housing Project Priority Rankings
Date: Monday, March 26, 2015
Location: CIC Room, City Hall, 300 Laporte Ave.
Time: 4:00–6:00pm
For Reference
Troy Jones, Chair
Lisa Poppaw, Council Liaison 970-817-0587
Sue Beck-Ferkiss, Staff Liaison 970-221-6753
Board Members Present Board Members Absent
Troy Jones
Diane Cohn
Curt Lyons
Eloise Emery
Tatiana Martin
Terence Hoaglund
Jeffrey Johnson (arrived 4:35)
Staff Present
Sue Beck-Ferkiss, Social Sustainability Specialist
Dianne Tjalkens, Admin/Board Support
Beth Rosen, Affordable Housing Project Administrator
Councilmembers Present
Guests
Chadrick Martinez, Fort Collins Housing Authority
Call to order: Troy Jones called to order at 4:10pm.
Agenda Review: Add discussion of June meeting agenda to Other Business
Public Comment: none
AGENDA ITEM 1: Priority Ranking of Affordable Housing Proposals
HO-6 VILLAGES, INC.: Legacy Senior Residences II
Comments/Q&A
• On the surface Legacy II seems great. What am I missing?
o Just seniors. Have area and plan, but nothing else.
o Project is good, but not ready to go. But need support from City to get tax credits.
o Brought in third party group, and FCHA not having as much skin in the game.
o Also don’t like location. Other senior housing within a mile. Better to target another
site for seniors. Good location for affordable housing for all populations.
• How much money do we have?
o Approximately $1.9 million for housing combined (CDBG, HOME, AHB)
o Projects can be partially funded. Up to CDBG Commission.
• Senior housing is desperately needed, but so is all other affordable housing. There is already
senior housing. Prefer Redwood with mix of income levels including families and singles.
Good community; great place.
o Have a lot of great projects. Will have significant population increase of people over
65 in next 10 years, so need to work on this. (Check #) 75% increase by 2020.
o May get another chance at funding this project in another cycle.
o Ranked Redwood higher since contingent on getting dollars from flood relief funds;
time sensitive.
• Did presentation tell how disaster relief applies to this project?
o Disaster recovery people came to FCHA looking for shovel-ready projects.
o Does not take money from flood victims.
o Disaster relief funds separated into different pots. One is for inventory to replace lost
units, another for roads and bridges, and another for individuals affected by flood.
Must be committed and spent within a particular time frame. (July 2016)
• Like that it is building units. Creates community be being near other similar projects. Needs
local support for tax credits. Very competitive. Supportive of reserving money, even if not
shovel ready.
o 60 units is a lot, leveraging very well. Only asking small percentage of total cost of
project. However, other urgent projects and only for seniors.
o Local jurisdictions will pledge money toward tax credit project to help get it going.
Momentum.
o Funds will be available October 1. Conditional commitment. Administrator forecasts
using other monies currently have. If a project did not receive tax credits this round,
would have to find out if could hold or rescind (based on fiscal year/timeframe).
Timeliness test August 1. Agencies that have committed CDBG funds need to spend
within certain timeframe. AHF has no restrictions. HOME funds must be contracted
within a calendar year of allocation.
• CHFA may give points for senior housing.
o Permanent supportive housing is popular with CFHA now. Senior needs competing
with statewide needs. President working to end veteran homelessness by 2016. Hard
to know how Legacy will compete statewide with other statewide priorities.
o Sometimes takes more than one shot to get tax credit.
• Unsure of relationship between FCHA and developer.
o Existing senior development is 100% low income.
o Sales person from development firm seemed out of touch with market. Lack of
knowledge breeds skepticism.
o Presentation was not good, but don’t hold against project. Tax credit projects are well
vetted, land use restrictions, compliance, oversight, etc. Relationship not yet
negotiated is not surprising, and not bothersome. Operator has strong history. If
FCHA willing to put reputation and stamp of approval, then feel positive.
o CDBG funds cannot go to for-profit developer. Must have non-profit partner for land
acquisition. Funds would be contracted with FCHA. Cornerstone could come in for
HOME of AHF, but more difficult alignment of funds to project.
o Nonprofits and for-profits make money from affordable housing projects. Very
complicated process.
o HUD is pushing for more projects to be built this way with tax credits.
9% deals are getting more competitive. May begin seeing more complicated
deals like this one.
Tax credit pool expands as population grows, but more going for funds.
Community was used to 9% projects being completed regularly. Concerned
that supporting them, but may not get leveraging.
HO-1 CITY OF FORT COLLINS: Homebuyer Assistance Program
Comments/Q&A
• Ranked lower because there are significant funds there. Not many requests. Would like to see
it get some funds, but doesn’t look like they need that much. $290,000 in their fund already.
o Could do 19-27 loans.
o More urgent needs at the moment. This one is covered already.
HO-5 NEIGHBOR TO NEIGHBOR, INC.: Coachlight Sliding Glass Doors
Comments/Q&A
• Capital needs assessment needed. Will underwriting criteria help, or will cost of assessment
take away funds from what they need to do maintenance?
o They have reserves to pay for immediate physical needs. Have been advised to
complete a capital needs assessment. Interiors are old and getting tired. Should
identify gap between what they have and expect to accumulate and what is needed to
perform all the work necessary.
o Could you condition receipt of funds on completion of capital needs assessment?
Have not, and CDBG Commission would probably not recommend.
Applicants will get more used to underwriting criteria from this point
forward.
o N2N charter is to acquire and rehab; they will get better at more holistic view.
o Reserve funds should be used for emergencies.
HO-2 FORT COLLINS HOUSING AUTHORITY: Fort Collins Housing Authority: Tenant
Based Rental Assistance for CDDT (TBRA)
Comments/Q&A
• Would like to see N2N have more support than tenant based rental assistance, due to
longevity and number of people served.
o Tenant based rental assistance clients would be homeless, which would cost the
community more in the long run. N2N does not get people homed, but gives nicer
shelter.
• What are statistics for people using tenant based rental assistance? Requirements? Have to
live in state, or just moved here?
o Must be referred to program, dual diagnosed, working with Touchstone. Screened.
Are harder to serve population.
o Part of charter is to make sure very vulnerable populations get properly housed (with
proper services). Evidence based program that works. More prejudice in renting to
those with mental health and substance abuse than people with physical disabilities.
Can make a statement by supporting these programs.
o Oakbrook 1 has residents in this program. Clients have been stabilized by being there.
Wonderful program.
• There are other rental assistance programs not before us.
o TBRA is eligible for HOME funds. Provides permanent housing assistance. Other
programs are one-time emergency or 1st time assistance, so come under public
service. Does not qualify as public service project. HOME program mission is units
and people in units. This is alternative way to get people in units.
• What age range is served?
o Do not have age data. Single men.
o TBRA will be mostly singles. Families get assistance other ways. Largest portion of
population eligible is men. Women would not be turned away.
HO-3 FORT COLLINS HOUSING AUTHORITY: Village on Redwood
Comments/Q&A
• Really well done project; smart use of funding sources; well-designed/organized. Best project
of FCHA.
HO-4 GRID ALTERNATIVES COLORADO: Residential Solar Affordable Housing Program
Not discussed.
General
CDBG Commission will receive ranking numbers and board commentary.
Terence moved to approve the Affordable Housing Project priority rankings as listed below. Tatiana
seconded. Motion failed, 2-4-0.
(2) HO-1 CITY OF FORT COLLINS: Homebuyer Assistance Program
(3) HO-2 FORT COLLINS HOUSING AUTHORITY: Fort Collins Housing Authority: Tenant-
Based Rental Assistance for CDDT
(1) HO-3 FORT COLLINS HOUSING AUTHORITY: Village on Redwood
(6) HO-4 GRID ALTERNATIVES COLORADO: Residential Solar Affordable Housing Program
(4) HO-5 NEIGHBOR TO NEIGHBOR, INC.: Coachlight Sliding Glass Doors
(5) HO-6 VILLAGES, INC.: Legacy Senior Residences II
Further Discussion after Proposal of Motion
• Would be willing to upshift Legacy, while moving N2N lower.
• According to prioritized goals, preserving existing housing is higher up.
o Special demographics and new units for senior housing (Legacy).
o Not clear that preserving is maintaining so much as not losing units.
One way to not lose property is to maintain it.
• Would rather build new than TBRA. What will community save in emergency room visits,
etc.? The return is great. Opportunity to put another special needs project in the same area as
another one, and the synergies and benefits, willing to gamble. Doubt FCHA will let TBRA
go unfunded.
• Feel strongly about helping home ownership as piece of affordability.
o Put HBA lower because chunk of money likely to last until the next cycle. Has good
funding already. Not good funding for others.
o Chunk of that is tied to switch in funding cycles. Inflated. Real estate is cyclical.
Artificially low interest rates and investors. No demand because people can’t buy
homes.
• Redwood ranked high as sticks and bricks; TBRA is to diversify portfolio.
• Call to vote. Motion Failed (see above).
Re-Ranking Discussion
• Members agreed to re-rank. Sue noted on chart in green.
• TBRA falls into HOME category and is long-term. Analogy to long-term land lease.
o Potential expense to community is great if fall to homelessness.
o Human dignity.
o Helping fellow humans improve lives.
• Need to show support for Legacy for tax credits.
o Expand support for senior population.
o Demonstration of previous partnership and product is great.
o Leverage sense of community, administrative efficiencies with proximity to other
senior housing.
• Why is N2N lower?
o Tough choices. Competition.
o Reminiscent of rehab of Cunningham Corners. Rehabbing is nice, but have greater
goals.
o Does not add units.
o Would like N2N to look more holistically; what are real needs over next 10 years?
o Capital needs assessment will show gap between needs and available funds. Nickel
and diming feeling would be lessened if had whole plan for next 10 years.
• Grid?
o Cool program, but helps few people and doesn’t meet goals.
o Helps sustainability.
o Not good fit for these grants. Can find better funding source.
o When have solar gardens in, what statistics come out? Energy savings, etc.? More
track record/bigger picture.
o Other projects in better alignment with goals.
Tatiana moved to approve the Affordable Housing Project priority rankings as listed below. Terence
seconded. Motion passed unanimously, 7-0-0.
(2) HO-1 CITY OF FORT COLLINS: Homebuyer Assistance Program
(4) HO-2 FORT COLLINS HOUSING AUTHORITY: Fort Collins Housing Authority: Tenant-
Based Rental Assistance for CDDT
(1) HO-3 FORT COLLINS HOUSING AUTHORITY: Village on Redwood
(6) HO-4 GRID ALTERNATIVES COLORADO: Residential Solar Affordable Housing Program
(5) HO-5 NEIGHBOR TO NEIGHBOR, INC.: Coachlight Sliding Glass Doors
(3) HO-6 VILLAGES, INC.: Legacy Senior Residences II
AGENDA ITEM 2: Other Business
Future Meetings Agenda
• April 2: Will be held in Conference Room 1A
• May 7: Murphy Center tour and meeting
• June 4: Redtail Ponds tour and meeting
Staff Updates
• Pete Wray will allow board to give data to help development of Old Town Plan.
• Social Sustainability staff on Old Town Plan and Downtown Plan technical teams.
• Goals: Projects prioritized by how leveraging City money with other money. Would like to
articulate within goals.
o Read chapter 3 Affordable Housing Strategic Plan.
o Showing of community support.
o CDBG looks at leveraging, impact, who serving, etc.
• Affordable Housing Strategic Plan will invite HAPS stakeholders, technical team, and board
to meeting.
• Strategic Goals: Are we sticks and bricks or partly social services?
o New goal about special populations speaks to services.
o Would like more clarification.
• Next agenda: Discuss draft goals for strategic plan.
Meeting Adjourned: 6:00pm
Next Meeting: April 2