The URL can be used to link to this page

Home My WebLink About2007 - Housing Catalyst - Annual Report1 YEAR IN REVIEW 2007 AGENCY OVERVIEW In 1971, the Fort Collins Housing Authority was created to build, own and manage affordable, subsidized housing for low and moderate-income Fort Collins residents. Today, FCHA currently assists approximately 1,500 families (3,500 individuals) throughout Larimer County through various programs. These programs include federally subsidized Low Income Public Housing, Housing Choice Voucher Program (Section 8 Rental Assistance), management of the Wellington Housing Authority, management of The Villages non-subsidized affordable housing properties owned by the Fort Collins Housing Corporation, development and management of the low income housing tax credit development the Village on Elizabeth LLLP, and management of the historic Northern Hotel low income housing tax credit development Our Mission: Just as a house is built upon a solid foundation, the Fort Collins Housing Authority is built upon its mission: To promote adequate and affordable housing, economic opportunity and a safe living environment free from discrimination. Our Business Objective: To achieve this mission all FCHA functions will be operated with attention paid to a triple bottom line: • Maintaining the fiscal viability of the organization • Achieving a social goal through the provision of affordable housing and supportive services • Achieving environmental sustainability Our Core Values: Through our day to day operations as well as when striving to attain our long-term goals, FCHA staff’s Core Values are prevalent in our work in the manner in which we serve our community. “Team FCHA” Teamwork Fun Compassion Honesty Accountability 2 Situational Summary: Based upon 2005 U.S. Census estimates, the City of Fort Collins has a population of 125,461. The city witnessed strong population growth throughout the 1990s. However, in early 2000 to present, Fort Collins has registered a significant slowdown in population growth. Although the population is expected to continue to grow during this decade it is expected to be at a slower rate than in previous years. The rental market continues to be competitive with rent specials continuing to be prevalent. The market is beginning to show moderate decreases in vacancy and is projected to continue to improve over the next year. Wait lists for federally subsidized programs are very long. The public housing wait list averages six months to one year for most bedroom sizes, two years or more for one-bedroom units. The Housing Choice Voucher program waiting list currently has 116 families who can anticipate a three-year or more wait. This list has been closed since 2004. Cuts in funding for federal programs have been consistently happening over the past several years. As of June 2007, FCHA staff did not know what the Housing Choice Voucher funding amount would be for fiscal year 2007 and did not know if it could continue to serve all of the families served on that date. The instability of funding continually presents challenges for staff managing these budgets. Increasing sources of revenue other than those dependent upon congressional appropriations will be crucial to the sustainability of our current programs and future growth. FORT COLLINS PUBLIC HOUSING Fort Collins Housing Authority Public Housing Program consists of 154 units owned by the Authority. Operating subsidy allows the program to serve families earning virtually no income, but regulations authorize serving families earning up to 80% of area median income. Attachment A provides 2007 demographics. For 2007, Fort Collins Public Housing had an average vacancy rate of 1%. This program had an annual turnover rate of 21%; meaning 33 of the 154 units had a family move-out during the year. This number is down from a 32% turnover rate the previous year. Numerous factors contribute to such changes, including availability of Housing Choice Vouchers, availability of affordable housing in the market, and stability of the families served. The federal regulations for waiting list selection are quite stringent and create a challenge. There are currently 739 applicants on the Fort Collins Public Housing waiting list. At this time, the anticipated length of wait can be over 24 months depending on bedroom size needed. WELLINGTON PUBLIC HOUSING The Fort Collins Housing Authority manages the Wellington Housing Authority through an intergovernmental agreement. There is a Board of Commissioners which meets on a monthly basis to review activities, set policy, and prepare and authorize budgets and capital improvement plans. The 3 Wellington Housing Authority consists of 42 public housing units. As of December 2007, there were 290 applicants on the Wellington Public Housing waiting list. HOUSING CHOICE VOUCHER PROGRAM The Fort Collins Housing Authority administers approximately 828 Housing Choice Vouchers (HCV), also known as Section 8, for Fort Collins and Larimer County. The Larimer County allocation of 100 of these vouchers is administered through an intergovernmental agreement, 65 of which are targeted specifically to people with disabilities. Attachment A provides 2007 program demographics. The Fort Collins Housing Authority administered $5,996,895 in Housing Assistance Payments (HAP) to local landlords on behalf of participating families in 2007. FCHA values local landlords a great deal and continues to work on ways to improve their satisfaction with the program. HAP checks are sent in a timely manner, a landlord brochure and program information is readily available, and FCHA is an active member of the Fort Collins Apartment Owners Association where staff interacts with local landlords on a regular basis. The U.S. Department of Housing and Urban Development (HUD) grades this program through its Section 8 Management Assessment Program or SEMAP. We anticipate an “A” rating again for 2007 and utilized 99.5% of our HUD allocation. In our effort to effectively manage the budget and maximize assistance for our families we were able to get 99.5% of our allocation of HUD funds out to our families without going over-budget. Utilization of 100% of the funding is difficult to achieve because the rental assistance amounts for each family vary by each family’s income, family size, the rent and utility amounts at their particular home, and other factors. As of December 2007, there were 155 applicants for the HCV program, but this is in no way indicative of community need because this waiting list has been closed since November 1, 2004. The anticipated wait is now four years or more from the date of application. A separate waiting list is administered for people interested in the “project-based” voucher program. Twenty percent of the vouchers are “project- based” or assigned to specific rental units. There are currently 876 applicants on that list with a wait of approximately 12 months average depending on bedroom size. All units leased under the Housing Choice Voucher Program must pass a Housing Quality Standards (HQS) inspection each year in order to receive subsidy. FCHA has one full time inspector on staff. This inspector is well trained in the inspection protocol and FCHA utilizes a hand-held computer which “syncs” to our housing management software to do these inspections. Staff works toward using the most current technology whenever feasible. FIRST STEP PROGRAM In December of 2006 the First Step program, a tenant-based rental assistance program, was renewed for another two years. It is financed by a partnership between the Colorado Division of Housing, the City of Fort Collins, the Fort Collins Housing Authority and the Housing Authority of the City of Loveland. It is providing 58 families with a transitional housing subsidy for up to two years. Tied to the subsidy is a case management component. Each family has agreed to work toward economic self-sufficiency goals through the help of a case manager who they see at least monthly. 4 A few notable comments can be made about the program to date. Single parents (23) comprise the largest group being served by the program. Almost a quarter of the families served have a head of household who is disabled. About half of the “non-disabled” families are working. The remainder are on public assistance, school loans, or receiving child support payments. Twenty-seven children are being housed by the program and several of the families have three or more children. The numbers show a movement by participants toward a return to education since involvement in the program. They have also been able to secure student loans for living expenses beyond their tuition grants. The primary case management goals presented above show a familiar picture of primary needs among participants. Vocational assessment; job search and retention; training and education; financial planning and budgeting; and mental and physical health needs are the most common areas of focus. SINGLE ROOM OCCUPANCY: SUPPORTIVE HOUSING FOR HOMELESS On behalf of the Fort Collins Housing Corporation, the Fort Collins Housing Authority operates three sites with 42 total single rooms of permanent supportive housing for individuals who are homeless upon admission. Two of these projects known as The Homecoming (Myrtle House and First Street) receive direct HUD rental subsidy. The third project, Linden House, now has a total of 13 project-based vouchers at the site. Case management is available for some residents through the Larimer Center for Mental Health. This is a highly unstable population. There were 35 “move-outs” in 2007 for a turnover rate of 83%. As of December 2007, there were 111 applicants on this waiting list with an expected wait of approximately six months. Some of the applicants on the waiting list may be served in 2008 with new tenant-based rental assistance vouchers to be used in conjunction with a wonderful new community collaboration the Community Dual Disorders team. This approach is modeled after an evidence-based approach which our community has been studying for some time in an attempt to serve people with severe complex needs. VILLAGES AFFORDABLE HOUSING PROGRAM (FORT COLLINS HOUSING CORPORATION) The Fort Collins Housing Authority is the management agent for the Fort Collins Housing Corporation “Villages” affordable housing program. The Corporation owns 356 units of housing scattered throughout Fort Collins. This portfolio consists of many types of housing, from single family detached to the 95-unit Village on Plum apartment complex. The average vacancy rate for this program for 2007 was 5%. Keeping these units fully occupied has been a challenge for several years. In 2007, a total of 167 units turned over for an annual turnover rate of 47%, down from 60% the previous year. While the turnover rate is still higher than the private sector, the decrease can be attributed to more stable families in the properties. 5 Average household income for the Affordable Housing Program by family size is as follows: Family Size Average Annual Income 1 $12,490 2 $12,850 3 $11,207 4 $16,012 Total Average $12,045 Outreach and marketing have continued to evolve. A formal outreach plan was created with the help of an outside firm. The Fort Collins Housing Authority donated money for this outreach effort, which has included professional brochures, signage, City bus panel advertising, and new website design and many other types of outreach. The new image is starting to become recognized and we are seeing results from these efforts! Partnership Successes Continue: In 2007, we continued our partnership with Crossroads Safehouse providing transitional housing for 9 families coming out of the safe-house. We have also provided simplified application processes for individuals coming through Community Corrections who have solidified case management plans and are making documented progress on their goals. We have continued to provide “project-based” rental assistance vouchers to Neighbor to Neighbor and CARE Housing, as well as subsidizing the 47 units of senior housing at the Northern Hotel. NORTHERN HOTEL The Fort Collins Housing Authority is the contracted management agent for the Northern Hotel Limited Partnership. As management agent, the Authority provides all leasing functions, which include eligibility and compliance work for all of the grant and funding sources. Documentation and reporting is required by the Low Income Housing Tax Credit Program/Colorado Housing and Finance Authority, the Colorado Division of Housing HOME program, the Federal Home Loan Bank of Topeka, the Housing Choice Voucher Program, and the owner group’s own annual audit. The Authority “project-based” 47 Housing Choice Vouchers to the Northern Hotel in 2001 due to severe vacancy problems. Since that time, the program has been full and is serving people earning well below 30% of area median income. Of the 47 total households in the Northern Hotel, the average annual income is $10,321. The average tenant rent is $213. As of December 2007, there were 47 applicants for this program with an approximate waiting time of six months. Maintenance management of the Northern Hotel remains challenging. The Fort Collins Housing Authority Facilities and Maintenance Manager spends a great deal of time working on systems that also affect the commercial space of the site. Any work provided above and beyond the scope of the management agreement is billed at a separate “owner’s representative” rate to cover this expense. 6 VILLAGE ON ELIZABETH The highlight of the year is the Village on Elizabeth. This property is the Fort Collins Housing Authority’s first “Low Income Housing Tax Credit” deal. The acquisition/rehab project of 48 one and two bedroom apartments located on West Elizabeth was funded through successful competitive applications. " Colorado Housing and Finance Authority (CHFA) Low Income Housing Tax Credits leveraging an MMA Financial capital investment of $2,548,000 " Colorado Division of Housing HOME program contribution of $480,000 " Federal Home Loan Bank contribution of $192,000 " Fort Collins Housing Authority deferred loan of $1,224,312 " City of Fort Collins CDBG program contribution of $163,000 " Governor’s Office of Energy Management $123,600 FACILITIES AND MAINTENANCE DEPARTMENT The Fort Collins Housing Authority Maintenance Department major accomplishments and projects for 2007 include: + Use of the work-order system and time-standards to account for time at each project + Refined use of work-order system and time standards for proper time tracking by project/unit + Recycling program for appliances and cabinets from rehabilitation projects + Use of Energy Star-rated equipment and building components in rehabilitation + Solar energy used for domestic water heating in rehabilitation + Community Make a Difference Day playground projects with 100 local Intel volunteers + Community Make a Difference Day Gazebo project with volunteers from Vaught -Fry Architects + Spring Volunteer month landscape project with 50 Hewlett Packard Staff + Staff training and implementation of computer software upgrade Village on Elizabeth Before and After 7 Work Orders Completed 2007: • Completed 388 emergency service calls within 24 hours • Completed 4,162 routine resident-generated service calls - average completion time of 8 days • Completed 218 vacancy turn-arounds with an average time of 17 days • Total service calls completed in 2007 including vacant unit work orders is 5,493 Project management for several substantial rehabilitation grants: • Village on Plum Division of Housing grant $520,000, 100% completed • Village on Plum, Spring 2005 CDBG grant $272,000, 100% completed • 615 Cowan CDBG grant $110,358, 100% completed • 100-106 S. Bryan Apartments CDBG grant $138,850, 100% completed • 400 Impala Circle resident retention/amenities project $60,340, 100% completed • Village on Elizabeth Acquisition/Rehab $1,777,136, 98% completed • Village on Swallow, CDBG grant $324,964, 100% completed RESIDENT SERVICES The Resident Services department consists of four specific programs; Public Housing Family Self Sufficiency, Housing Choice Voucher Family Sufficiency, Homeownership Program, and First Step two-year transitional program. b The team worked with 253 total families during the calendar year and ended 2007 with 196 families actively involved at that point in time b58 of these families enrolled in school b53 families are making escrow savings contributions bThe average family escrow savings balance is $2,060 with an average of $247 added monthly bThere were eight (8) graduating families this year bEight families moved to non-subsidized housing bTen families purchased a home this year The Resident Services Committee of community volunteers was very successful this year in raising funds and support for the families. & 107 families received holiday support/holiday baskets & Over $8,400 was raised to provide “client assistance” for families actively working on goals & System created for local Realtors to donate to client assistance year-round & Soul of the City fundraising event at Avogadro’s Number was a wonderful success! 8 At the case manager’s discretion, client assistance funds were used in many ways to help families become successful: Education 31%, transportation 24%, childcare 12%, housing costs 10%, medical/dental 6%, other help maintaining employment 1%, food 1%, legal 1%, and miscellaneous other assistance 13%. This contribution to families is in areas where other community resources are not available. Client assistance contributions must be for purposes such as to help families maintain employment or eduation. In 2006, we began to successfully incorporate CSU social work interns in the self sufficiency programs. In 2007, FCHA was the internship placement for five social work interns. FINANCE 1) Financial Highlights • The assets of the Authority exceeded its liabilities at the close of the most recent fiscal year by $8,955,033 (net assets). • As of the close of the current fiscal year, the Authority’s funds had an operating reserve of $3,399,737, an increase of $1,938,048 (133%) over the prior year–end balance of $1,461,689. This increase is primarily due to the ramifications of entering into a low income housing tax credit project. It is important to state that the majority of the Authority’s reserves are federally restricted in terms of their use. • The Authority’s cash balance at December 31, 2007 was $1,662,488, representing an increase of $465,066 (39%) from December 31, 2006. At the same time, net receivables from HUD decreased by $37,989, from $103,582 to $65,593. • The Authority had HUD funding of $7,238,959, internal service fees (management fees and cost allocations) of $1,159,573 and rents of $282,752 for the year. The Authority paid out $6,394,129 in housing assistance payments and $2,708,293 in operating expenses (excluding depreciation of $194,574). The Authority had capital outlays of $204,924 and paid $17,319 in principal payments on the maintenance building mortgage. 2) Financial Statements The financial statements are designed to provide readers with a broad overview of the Authority’s finances, in a manner similar to a private-sector business. The statement of net assets presents information on all of the Authority’s assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the Authority is improving or deteriorating. The statement of changes net assets presents information showing how the Authority’s net assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in past or future periods (e.g. depreciation and earned personal leave). 9 Fort Collins Housing Authority Authority-wide Net Assets as of December 31 (In thousands of dollars) 2007 2006 2005 Cash and Escrow Deposits 2,073 1,371 1,404 Receivables 55 373 163 Notes & Interest Receivable 6,202 4,555 4,753 Inventory 28 18 24 Prepaids 40 28 13 Capital Assets (Net of Depr.) 5,640 5,627 5,667 Total Assets 14,038 11,972 12,024 A/P & Accrued Liabilities 304 266 207 - - 35 Cash & Escrow Deposits 166 108 102 Deferred Revenue - 36 68 Notes & Mortgage Payable 4,613 4,557 4,772 Total Liabilities 5,083 4,967 5,184 Net Assets Invested in Capital Assets 5,555 5,543 5,567 Unrestricted 3,400 1,462 1,273 Total Net Assets 8,955 7,005 6,840 Total Liabilities & Net Assets 14,038 11,972 12,024 10 Fort Collins Housing Authority Authority-wide Change in Net Assets (In thousands of dollars) 2007 2006 2005 Operating Revenues Rental Income 282 223 360 Administrative Fees 1,158 1,150 1,091 HUD Operating Contribution 7,239 7,076 6,813 Other 1,457 45 44 Total Operating Revenue 10,136 8,494 8,308 Operating Expenses Depreciation 193 185 173 Housing Assist. Payments 6,394 5,738 5,839 Salaries and Benefits 1,345 1,122 1,135 Professional Services 39 64 58 General and Administrative 230 298 131 Capital Purchases - 1 2 Utilities 119 121 121 Maintenance 859 1,103 893 Insurance 83 66 63 Other Expenses 33 22 27 Total Expenses 9,295 8,720 8,442 Operating Income 841 (226) (134) Non-Operating Income/Exp. Interest Income 293 266 249 Interest Expense (216) (214) (223) HUD Capital Contribution 205 227 233 Sales (Net) 852 1 38 Net Non-operating Income 1,134 280 297 Net Income 1,975 54 163 Net Assets - Beginning of Year 7,005 6,840 6,678 HUD Adjustments (25) 111 (1) Net Assets - End of Year 8,955 7,005 6,840 11 INFORMATION TECHNOLOGY The Fort Collins Housing Authority strives to keep all information technology systems up-to-date to provide the best possible service to our customers. Since individual participant eligibility and statistical data must be transmitted electronically to the U.S. Department of Housing and Urban Development, it is vitally important that our systems are well maintained. In addition, from a business and fiduciary perspective it is also essential that our systems allow us to track our finances in ways that are meaningful and allow us to manage our assets properly. In 2007, after a great deal of effort and patience with our previous software vendor we had no choice but to change vendors and software. This process was very time consuming and required yet another new learning curve for staff. We hope that our new system will allow us to maximize our data and its usage for both compliance with funding sources and for having the data to make sound business decisions. More future I.T. goals: FCHA continues to refine its website and develop ways for the community to access our programs electronically. In 2008 we will continue to assess the possibility of an on-line housing assistance program application. Electronic data storage is the wave of the future. In 2007 we replaced two of our copy machines with leased machines capable of scanning multiple documents in ways which will allow for simple “E-doc” storage. We will be working on areas in which it makes sense to implement E-doc storage and developing storage protocols throughout 2008. COMMUNITY COORDINATION AND ADVOCACY In 2007, FCHA partnered numerous community entities through leadership, advocacy, coordination and support. The following list is not inclusive and is in no particular order. There are so many other informal partnerships that it is impossible to list all of the great work being accomplished! Fort Collins Apartment Owners Association Neighborhood Task Force Larimer County Affordable Housing Coalition Larimer County Workforce Investment Board: Executive Committee and Youth Council CARE Housing, Inc. Project Self Sufficiency Crossroads Safehouse Neighbor to Neighbor Social Services Family Response Team Northern Front Range Continuum of Care Interfaith Council Community Mental Health and Substance Abuse Partnership Larimer County Community Corrections - Women’s Transition Poudre School District Fort Collins Board of Realtors First United Methodist Church Eastgate Homeowners Association Stanford Homeowners Association 12 Thunderbird Neighborhood Association FirstCall ServiceNet Housing Services Day Center Steering Committee and Building Committee City Manager’s Strategic Issues Team National Association of Housing and Redevelopment Officials: State, Regional and National Housing NOW Conference Colorado Coalition for the Homeless Larimer County Home Improvement Program (LaHIP) Larimer County Homeownership Program (LaHOP) Larimer County Drug Task Force Housing Authority of the City of Loveland Front Range Community College Advisory Board Hewlett Packard City of Fort Collins Utilities Platte River Power Authority Energy Efficiency Program Larimer County Alternative Sentencing Unit Community Mediation Program Larimer County Sheriff’s Parole Board Longs Peak Weatherization 13 Attachment A Fort Collins Public Housing 2007 Demographics 2007 Fort Collins Public Housing Distribution by Average Annual Income (%) Extremely Low Income, Below 30% of Median or < $20,750 family of 4 Very Low Income, 50% of Median or $34,600 for family of 4 Low Income, 80% of Median or $55,350 for family of 4 90 9 1 2007 Fort Collins Public Housing Average Annual Income ($) Fort Collins Public Housing 9,304 Colorado Overall Average 11,394 2007 Fort Collins Public Housing Distribution by Source of Income (%) With any wages With any welfare With any SSI/SS/Pension With any other income 32 18 35 29 2007 Fort Collins Public Housing Distribution by Total Tenant Payment (%) $0 $1-$25 $26-$50 $51-$100 $101-$200 $201-$350 $351-$500 $501+ 0 0 16 18 28 20 10 7 2007 Fort Collins Public Housing Distribution by Family Type (%) Elderly, no children, non- disabled Elderly, with children, non- disabled Non- elderly, no children, non- disabled Non- elderly, with children, non- disabled Elderly, no children, disabled Elderly, with children, disabled Non- elderly, 14 Housing Choice Voucher Program 2007 Demographics 2007 Fort Collins HCV Average Annual Income ($) Fort Collins HCV 10,898 Colorado Overall Average 11,089 2007 Fort Collins HCV Distribution by Source of Income (%) With any wages With any welfare With any SSI/SS/Pension With any other income 35 11 48 27 2007 Fort Collins HCV Distribution by Total Tenant Payment (%) $0 $1-$25 $26-$50 $51-$100 $101-$200 $201-$350 $351-$500 $501+ 1 0 12 11 28 25 13 10 2007 Fort Collins HCV Distribution by Family Type (%) Elderly, no children, non- disabled Elderly, with children, non- disabled Non- elderly, no children, non- disabled Non- elderly, with children, non- disabled Elderly, no children, disabled Elderly, with children, disabled Non- elderly, no children, disabled Non- elderly, with children, disabled All female headed househld with children 8 0 6 43 7 1 26 9 48 2007 Fort Collins HCV Average Tenant Payment by Family Type ($) Elderly, no children, non- disabled Elderly, with children, non- disabled Non- elderly, no children, non- disabled Non- elderly, with children, non- disabled Elderly, no children, disabled Elderly, with children, disabled Non- elderly, no children, disabled Non- elderly, with children, disabled All female headed househld with children 255 543 287 246 237 466 210 294 254 no children, disabled Non- elderly, with children, disabled All female headed househld with children 2 0 2 56 7 0 22 11 61