community housing development organizations …...needed-learning curve is steep • constant grant...
TRANSCRIPT
![Page 1: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/1.jpg)
slide 1
Community Housing Development Organizations
(CHDOs)
A Briefing to the Housing Committee
Housing DepartmentJanuary 22, 2008
![Page 2: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/2.jpg)
slide 2
Key Focus Area: Economic Vibrancy
PURPOSETo provide information with regard to Community Housing Development Organizations (CHDOs) that work with the City of Dallas
![Page 3: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/3.jpg)
slide 3
Community Housing Development Organizations (CHDOs)
A CHDO is a private, nonprofit, community-based organization with the mission, experience, and capacity to develop affordable housingCHDO is a designation created by the Department of Housing and Urban Development for cities and states to recognize and certify nonprofit development partners
![Page 4: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/4.jpg)
slide 4
CHDO Certification Criteria
In order for nonprofits to be certified, they must meet certain requirements:
Legal StatusOrganizational structureCapacity and experienceFinancial Statements Business Plan
![Page 5: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/5.jpg)
slide 5
Legal Status
To be eligible, organization must:Be organized under state and local law (Incorporation through the State of Texas)Have as its purpose to provide decent and affordable housing to low/mod income persons (evidenced in by-laws)Have an IRS non-profit status 501(c)3
![Page 6: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/6.jpg)
slide 6
Organizational Structure
CHDO board of directors must:Be made up of at least one-third low-income Dallas community representativesNot have more than one-third public sector representatives
![Page 7: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/7.jpg)
slide 7
Capacity and ExperienceOrganizations must:
Have at least two years of experience developing housingDemonstrate staff knowledge and experience to carry out housing developmentHave financial capacity- CHDOs’ financial statements are reviewed for assets, liabilities, revenues, and expensesPresent a two-year business plan including a community outreach plan
![Page 8: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/8.jpg)
slide 8
Special Opportunities for Certified CHDOs
The Department of Housing and Urban Development requires cities and states receiving HOME Investment Partnership Program funds to set-aside a minimum of 15% of its annual allocation specifically for CHDO development projects
This averages $1.5 million per year for the City of Dallas
The HOME Program requires specific project contracting within 2 years and expenditure of funds within 5 years
![Page 9: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/9.jpg)
slide 9
Special Opportunities for CHDOs (continued)
CHDOs for the City of Dallas may apply for Operating Assistance Grants up to $50,000
There is a 5% cap on the City’s annual allocation for these funds
The total allocation is funded at the cap or about $400,000
These funds are typically spent in one year
CHDOs may access other CDBG project funds
These funds must be committed within one year and spent within two years
![Page 10: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/10.jpg)
slide 10
Special Opportunities for CHDOs(continued)
CHDOs may access general obligation bond funds
CHDOs have a set-aside under the Mortgage Assistance Program (MAP) for subsidizing homebuyers for their projects
CHDOs have first right of refusal for Land Bank properties
CHDOs may acquire tax foreclosed & surplus property under the Land Transfer Program
![Page 11: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/11.jpg)
slide 11
CHDO ActivitiesThe City of Dallas currently has sixteen certified CHDOs
Seven CHDOs are active and represent 95% of production
The number of active CHDOs has not increased in the last five years but loans & commitments from the City of Dallas have increased from $3.5 million to $11.7 million
The majority of CHDOs are engaged in single family development (new construction)
A few CHDOs are engaged in special needs housing and multifamily rehabilitation
![Page 12: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/12.jpg)
slide 12
Challenge Increase production of active CHDOs and assist low producing and newly formed CHDOs
Capacity is an issue• Staffing is minimal and groups often need financial and
development professionals for housing development• Training and resources to learn about development are
needed-learning curve is steep• Constant grant writing to get financial support• Reporting and Administration for compliance• Difficult to attain self-sufficiency
![Page 13: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/13.jpg)
slide 13
Challenge (continued)Areas being developed are the most economically challenged
• Take more time• Crime is an issue• Infrastructure needs• Transportation needs• Need neighborhood and marketing plans• Need more subsidy layering
Clients • Buyers/renters need a lot more counseling and
more subsidies
![Page 14: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/14.jpg)
slide 14
SolutionsCreation of Additional Programs & Funding Sources to address challenges (including set-asides)
Allowing CHDOs to bring proposed developments forward at any time
Encouraging Partnerships between nonprofits and with for-profit entities
Neighborhood Investment Program to assist with neighborhood planning, infrastructure, and transportation coordination
Regular CHDO Meetings
Providing access to relevant trainings and technical assistance
![Page 15: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/15.jpg)
slide 15
New SolutionsHousing Services Program
January 23, 2008 preliminary adoption of $100,000 from Community Development Block Grant Funds to provide assistance to CHDOs for housing counseling, loan processing, and other services related to assisting potential homebuyers participating or seeking to participate in HOME funded projects
If fully utilized, an additional $100,000 will be sought from reprogramming funds this fiscal year
On an ongoing basis, Housing Department will recommend that funding be included in the annual CDBG Budget
![Page 16: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/16.jpg)
slide 16
New SolutionsHousing Trust Fund- creation of an umbrella program for all affordable housing efforts and funding with CHDO set-aside
Public Hearings to be held for citizen inputCreation of Program Statement with all input providedCity Council adoption of Program Statement
Technical Assistance-partnership formed with Texas Real Estate Council (TREC) to provide needed development services
Services such as legal, accounting, title work, architectural, engineering, construction management Provided both pro-bono and fee based, funded by City of Dallas
![Page 17: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/17.jpg)
slide 17
New SolutionsTraining will be provided throughout the year for CHDO staff and CHDO board members by the City of Dallas, Enterprise Community Partners, and Professional Trainers
Financing & Putting Development Deals TogetherMulti-family DevelopmentMarketingBusiness Planning & Citizen InvolvementCompliance with applicable funding sources
![Page 18: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/18.jpg)
slide 18
Next StepsJanuary 23, 2008-City Council preliminary adoption of CDBG Budget Amendment and calling of public hearing
February 27, 2008-City Council final adoption of CDBG Budget Amendment and creation of Housing Services Program
January/February 2008 – City Council public hearings for input on Housing Trust Fund
February/March 2008 – Housing Committee briefing on Housing Trust Fund recommended program
April 2008 – City Council approval of Housing Trust Fund Program
![Page 19: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/19.jpg)
slide 19
AttachmentsA. List of Currently Certified CHDOsB. Operating Assistance Grant Awards 2003-2007C. Current CHDO Development Awards and
CommitmentsD. List of Housing Department Programs with
Descriptions
![Page 20: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/20.jpg)
![Page 21: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/21.jpg)
![Page 22: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/22.jpg)
![Page 23: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/23.jpg)
![Page 24: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/24.jpg)
![Page 25: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/25.jpg)
![Page 26: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/26.jpg)
![Page 27: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/27.jpg)
![Page 28: Community Housing Development Organizations …...needed-learning curve is steep • Constant grant writing to get financial support • Reporting and Administration for compliance](https://reader036.vdocuments.net/reader036/viewer/2022070916/5fb6cd9dd1544a36fc7a1878/html5/thumbnails/28.jpg)