IZ Workshop 2014: Sheila dillon lunch presentation
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Transcript of IZ Workshop 2014: Sheila dillon lunch presentation
2009 2010 2011 2012 2013$1,400
$1,600
$1,800
$2,000
$2,200
$2,400MEDIAN LISTED RENT 2009-
2013
2009
2010
2011
2012
2013
$325,000
$350,000
$375,000
$400,000
$425,000
$450,000MEDIAN HOME PRICES
2009-2013
POPULATION: 630,000TOTAL HOUSING UNITS: 275,000
AFFORDABLE HOUSING UNITS: 52,000 (19%)MEDIAN LISTED RENT: $2,300 (+23% since 2009)
MEDIAN HOME PRICE: $427,500 (+31% since 2009)
94 95 96 97 98 990
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400
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800
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557
733
474
767
947
1561
NEW HOUSING STARTS 1994-1 999
+XX%
+57%
1994:$118,000
1999: $185,000
YEAR ON SITE
RATEOFF SITE
RATERENTAL
AFFORDABILITYOWNER
AFFORDABILITYRENTAL BUY OUT
OWNER BUY OUT
Half @ $60,000 Half @ $60,000
Half @ $90,000 Half @ $90,000$52,000 $52,0002000 10% 10%
YEAR ON SITE
RATEOFF SITE
RATERENTAL
AFFORDABILITYOWNER
AFFORDABILITYRENTAL BUY OUT
OWNER BUY OUT
Half @ $60,000 Half @ $60,000
Half @ $90,000 Half @ $90,000
Half @ $60,000 Half @ $60,000
Half @ $90,000 Half @ $90,000
$52,000 $52,0002000
2004 10% 10%
10% 10%
$97,000 $97,000
YEAR ON SITE
RATEOFF SITE
RATERENTAL
AFFORDABILITYOWNER
AFFORDABILITYRENTAL BUY OUT
OWNER BUY OUT
Half @ $60,000 Half @ $60,000
Half @ $90,000 Half @ $90,000
Half @ $60,000 Half @ $60,000
Half @ $90,000 Half @ $90,000
Half @ $60,000
Half @ $75,0002007 13% 15%
$200,000 and up
50% of Price
DifferenceAll @ $52,700
$52,000 $52,0002000
2004 10% 10%
10% 10%
$97,000 $97,000
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AFFORDABLE ONSITE UNITS CREATED THROUGH IDP 2000-2014
Under $52,7005%
$52,700-$60,000 62%
$60,000-$75,000 8%
$75,000 - $90,00025%
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$0$2,000,000$4,000,000$6,000,000$8,000,000
$10,000,000$12,000,000$14,000,000$16,000,000$18,000,000$20,000,000$22,000,000
INCLUSIONARY CASH-OUT FUNDING COMMITMENTS
STATUS DUE PAID OWED
COMPLETE & IN CONSTRUCTION
$81,785,999 $58,274,593 $23,511,406
EXECUTED AGREEMENTS - NOT STARTED
$19,575,600 $0 $19,575,600
NEW AGREEMENTS IN PROGRESS
$12,384,086 $0 $12,384,086
TOTAL $113,745,685 $58,274,593 $55,471,092
STATUS OF IDP COLLECTIONS: MAY 1, 2014
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AFFORDABLE UNITS CREATED THROUGH IDP FUNDING
2000-2014
Under $52,70071%
$52,700-$60,000 20%
$60,000-$75,000 5%
$75,000 - $90,0004%
OUTCOME UNITSSubsidized Housing Energy Retrofit 446
Affordable Rental Preservation 149
First Time Homebuyer Assistance 176
REO Reclamation 23
OnSite 1,473 (19%)
CashOut853(11%)
Non-IDP 5,600 (70%)
IDP CashOut $28,678,287 (16%)
City Budget $60,584,190 (34%)
Linkage $85,206,175 (47%)
BRA Funds $5,985,031 (3%)
CITY-GENERATED FUNDS SPENT ON AFFORDABLE HOUSING PRODUCTION
2000-2014
1. Updating On Site & Cash Out Formulas
2. Cash Out Administration
3. Impact on Middle-Income Feasibility
4. IDP Fund Administration
