FY 20 AHSP APPLICATIONS & ALLOCATIONS Housing...*Manufactured Home Removal Program is supported...
Transcript of FY 20 AHSP APPLICATIONS & ALLOCATIONS Housing...*Manufactured Home Removal Program is supported...
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Presented by
FY 20 AHSP APPLICATIONS & ALLOCATIONSMatthew Cable & Jennifer Barnette
Planning & Budget
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August 25 Notice of a request for project proposals advertised
August 26 – September 13Application submittal window (Eight (8) applications submitted)
September 16 – September 24Buncombe County Staff review, evaluate and score proposals (Six (6) applications deemed complete and fully evaluated/scored)
October 1Affordable Housing Committee begins considering proposals and allocationsBoard of Commission Pre-Meeting Presentation
November 5Affordable Housing Committee makes funding allocation recommendation
FY 20 AHSP PROCESS TO DATE
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FY 20 AHSP FUNDS AVAILABLE
FY 2020 Budget: $ 631,045FY 2019 Program Income: $ 258,119FY 2019 Permit Fee Rebate Reallocation: $ 18,835FY 2019 Construction Loans Reallocation: $ 125,000FY 2014 Construction Loans Reallocation: $ 66,542
$ 1,099,541
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Low-Interest Construction Loan Program (Rental),
$1,000,000
Low-Interest Construction Loan
Program (Sale), 100,000
Emergency Repair Program, $450,000
Tenant-Based Rental Assistance Program, $60,000
Permit Fee Rebate Program, $60,000
Manufactured Home Removal
Program, $49,250
TOTAL ACCEPTED FUNDING REQUESTS: $1,719,250*
*Manufactured Home Removal Program is supported through the annual budget of funds for AHSP, but is not a program category.
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FY 20 AHC FUNDING RECOMMENDATION
Jasper (Multifamily Construction Loan) $ 496,2562 Restaurant Court (Multifamily Construction Loan) $ 296,334Emergency Home Repair (MHO, Inc.) $ 154,356Emergency Home Repair (Habitat) $ 77,177Tenant Based Rental Assistance (Eblen Charities) $ 29,835Manufactured Home Removal Program (BC) $ 45,584
$ 1,099,542
This allocation of funding would support 218 units. A total of $792,590 (82%) are loan funds which would return for future year use.
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JASPER
Project Applicant: Jasper Homestead, LLC Units Supported: Multifamily for Rent Total Units: 84 Location: Buncombe County (outside City of Asheville limits)
Total Project Cost: $14,160,226 Committed Funds: $8,997,980 ($8,910,072 LIHTC + $87,908 BC HOME Match)
AHSP Funding Request: $600,000
AHC Funding Recommendation: $496,256
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2 RESTAURANT COURT
Project Applicant: Beaucatcher Commons, LLC Units Supported: Multifamily for Rent Total Units: 40 Location: Buncombe County (inside City of Asheville limits)
Total Project Cost: $3,645,000 Committed Funds: $475,000 (Equity in Property)
AHSP Funding Request: $400,000
AHC Funding Recommendation: $296,334
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EMERGENCY HOME REPAIR (MHO)
Project Applicant: Mountain Housing Opportunities, Inc. Units AHC Funding Recommendation Would Support: 25 Individuals on Waiting List: 66
AHSP Funding Request: $300,0000
AHC Funding Recommendation: $154,356
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EMERGENCY HOME REPAIR (AAHH)
Project Applicant: Asheville Area Habitat for Humanity Units AHC Funding Recommendation Would Support: 13 Individuals on Waiting List: 25
AHSP Funding Request: $150,000
AHC Funding Recommendation: $77,177
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TENANT-BASED RENTAL ASSISTANCE
Project Applicant: Eblen Charities Units AHC Funding Recommendation Would Support: 38
AHSP Funding Request: $60,000
AHC Funding Recommendation: $29,835
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MANUFACTURED HOME REMOVAL PROGRAM
Project Applicant: Buncombe County Units AHC Funding Recommendation Would Support : 18 (est.)
AHSP Funding Request: $49,250
AHC Funding Recommendation: $45,584
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FY 20 AHC FUNDING RECOMMENDATION
Jasper (Multifamily Construction Loan) $ 496,2562 Restaurant Court (Multifamily Construction Loan) $ 296,334Emergency Home Repair (MHO, Inc.) $ 154,356Emergency Home Repair (Habitat) $ 77,177Tenant Based Rental Assistance (Eblen Charities) $ 29,835Manufactured Home Removal Program (BC) $ 45,584
$ 1,099,542
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FY 20 AHSP FUNDS AVAILABLE
FY 2020 Budget: $ 631,045FY 2019 Program Income: $ 258,119FY 2019 Permit Fee Rebate Reallocation: $ 18,835FY 2019 Construction Loans Reallocation: $ 125,000FY 2014 Construction Loans Reallocation: $ 66,542
$ 1,099,541