south carolina housing trust fund an introduction for new participants january, 2006

South Carolina Housing Trust Fund

An Introduction for New Participants

January, 2006

Presentation Overview

Trust Fund Activities Emergency Repair Owner-Occupied

Rehabilitation Homeownership Acquisition

Trials and Tribulations What Now?

Trust Fund Activities Emergency Repair Owner-Occupied

Rehabilitation Homeownership

Acquisition Rental Supportive Housing Land Acquisition Group Homes

Emergency Repair

Emergency Repair

Be the result of a recent event, such as a fire or flood; Not be the result of accumulated deferred maintenance (see Owner-Occupied

Rehabilitation activity); Not be covered by existing insurance.

DefinitionEmergency Repair means required repairs to owner-occupied units that are necessary to eliminate clear and present danger(s) to the occupant(s). In order to be classified as an emergency, the deficiency(s) to the unit must:

Other conditions that will be considered in determining qualification as an emergency for purposes of this program include:

Units occupied by children under the age of 12; Units occupied by disabled individuals of any age; Conditions that, if not repaired immediately, would cause further or irreparable damage; Units where the heating, cooling, electrical, or plumbing systems are not functioning or do not exist.

Emergency Repair

Basic Information

Can be applied for at any time NOT available as a block grant Cannot have more than one

Emergency Repair on a property

Emergency Repair

Eligibility… Owner-Occupied units ONLY Fall within income limits Clear and present danger to

occupants NOT the result of deferred

maintenance NOT covered by existing insurance

Emergency Repair

Special consideration for… Units occupied by the disabled Units occupied by children under 12 Problems with major systems (i.e.

plumbing, HVAC, electrical, etc.) Repairs to prevent future or ongoing

damage

Emergency Repair Workflow

Identify andpre-qualify household

CompleteEmergency

Repair Application

Gather all items listed in

Emergency Repair

Checklist

Submit Application and exhibits

to HTF

HTF Reviews & Approves –

Inspection Ordered

Emergency Repair

Agreement Executed –

Work Begins

Work Completed – Inspection &

Draw Requested

Inspection Performed

Draw Paid

Emergency Repair Workflow

Helpful Hints… Submit a COMPLETE application Begin work within 30 days of application –

Finish within 90 days Make sure you have proof of income Check your deed, recheck your deed, and

then recheck your deed again Mobile homes CANNOT be more than 28

years old – Owners must have title to both the land and the home

Emergency Repair Workflow

Application Checklist Application form Site map & directions from the Authority Deed (Check it!!) Photographs (Front/back & area to be

rehabilitated Work write-up Contractor’s license & Liability Insurance –

Both current and valid

Emergency Repair Workflow

Application Checklist Continued

Income Certification, verification, documentation

Documentation of the emergency… tell us a good story, and provide any backup

Documentation of uninsured loss Financial commitments, if any

Owner-Occupied Rehabilitation

Owner-Occupied Rehabilitation

Basic Information Can be applied for during open

application cycles ONLY available as a block grant Cannot have more than one

Rehabilitation on a property Owner-Occupied units ONLY Fall within income limits

Owner-Occupied Rehabilitation

Two pieces to the process… Block Grant Application

“Reserves” funds Apply during open cycle

Owner-Occupied Beneficiary Request Can be submitted at any time with an

open Block Grant Must contain all beneficiary information

and work write-ups

Owner-Occupied Rehabilitation Workflow

Block Grant Application Completed

and Submitted

HTF Reviews and Authority

Board Approves

Technical Assistance –

Funding Agreement

Signed

Beneficiary Request

Prepared – With Exhibits

HTF Reviews & Approves –

Inspection Ordered

Restrictive Covenants

Signed – Work Begins

Draw Requests

Final Inspection Performed

Draw Paid – File Closed

Block Grant Process Beneficiary Process

Owner-Occupied Rehabilitation Workflow

Helpful Hints… Don’t submit Beneficiary Requests

until you’re ready to begin work Begin work within 30 days Make sure you have proof of income Check your deed, recheck your deed,

and then recheck your deed again Take your time on the work write-up –

the homeowner has to live with it

Owner-Occupied RehabilitationWorkflow

Beneficiary Request Checklist Beneficiary Request form Site map & directions from the Authority Deed (Check it!!) Photographs (Front/back) Work write-up Contractor’s license Income Certification, verification,

documentation Financial commitments, if any

Homeownership Acquisition

Homeownership Acquisition

Basic Information

Can be applied for during open application cycles

ONLY available as a block grant Used for down payment and closing

costs Fall within income limits

Homeownership Acquisition

Two pieces to the process… Block Grant Application

“Reserves” funds Apply during open cycle

Homeownership Beneficiary Request Can be submitted at any time with an

open Block Grant Must contain all beneficiary and property

information

Homeownership Acquisition Workflow

Block Grant Application Completed

and Submitted

HTF Reviews and Authority

Board Approves

Technical Assistance –

Funding Agreement

Signed

Beneficiary Request

Prepared – With Exhibits

HTF Reviews & Approves

Closing Documents & Check sent to

Closing Attorney

Closing Documents Retuned to

HTF

Block Grant Process Beneficiary Process

Homeownership Acquisition Workflow

Helpful Hints… Don’t submit Beneficiary Requests

until the closing date is set Allow three (3) weeks for processing Make sure you have proof of income Use an experienced closing attorney

Homeownership Acquisition Workflow

Beneficiary Request Checklist Beneficiary Request form Site map & directions from the Authority Copy of full appraisal Photographs (Front/back) Homebuyer’s Counseling certificate Closing attorney information Income Certification, verification,

documentation Financial commitments

Trials and Tribulations

Trials and Tribulations

It’s the little things…. Submit COMPLETE documentation –

Incomplete submissions will be returned Deeds – Learn to read and understand

them Work write-ups are NOT estimates – You

and the homeowner have to live with them Don’t order inspections that you’re not

ready for We don’t print checks, the State Treasurer

does, so allow at least two weeks

Trials and Tribulations

Even MORE little things…. Don’t submit Beneficiary Requests until

you’re ready to do the deal Don’t request more money in a Block Grant

than you can realistically use in a year My ears are ringing, and so is the phone –

Email us! Get a written response! Check that income, verify that income,

document that income

What Now?

What Now?

Getting Started Become an approved HTF non-profit

organization Identify needs in your community – Start

small Get organized FIRST and then arrange for

some one-on-one training Visit our website:

www.SCHousing.com

HTF Contact Information

SC State Housing Finance & Development Authority

Housing Trust Program300 C Outlet Pointe Blvd.Columbia, SC 29210

803/896-9001

www.SCHousing.com

HTF Contact InformationStaff Phone Fax Email

Matt RiversDirector – HTF

(803) 896-8774 (803) 551-4934 matt.rivers@schousing.com

Delores EdwardsProject Coordinator

(803) 896-9345 (803) 551-4891 delores.edwards@schousing.com

Linda Hough-Hicks Project Coordinator

(803) 896-9338 (803) 551-4896 linda.hough-hicks@schousing.com

Charles McCulloughProject Coordinator

(803) 896-9511 (803) 551-4918 charles.mccullough@schousing.com

Dorothy SuttonProject Coordinator

(803) 896-9360 (803) 551-4948 dorothy.sutton@schousing.com

www.SCHousing.com