south carolina housing trust fund an introduction for new participants january, 2006
TRANSCRIPT
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 [email protected]
Delores EdwardsProject Coordinator
(803) 896-9345 (803) 551-4891 [email protected]
Linda Hough-Hicks Project Coordinator
(803) 896-9338 (803) 551-4896 [email protected]
Charles McCulloughProject Coordinator
(803) 896-9511 (803) 551-4918 [email protected]
Dorothy SuttonProject Coordinator
(803) 896-9360 (803) 551-4948 [email protected]
www.SCHousing.com