1. NY/NY III Status Report Presentation to the Network Board By Nicole Branca Supportive Housing Network of New York November 18, 2009 Updated 1.11.10

2. NY/NY III Capital Commitment NYC HPD:3,125 Units NYS DHCR:1,000 Units NYS OTDA:1,000 Units NYS OMH:1,125 Units 6,250 Units + 2,750 Scattered Site Units 9,000 Total Units

3. Capital Development at only 35% of Target Methodology: Units are weighted by percentage of funding from each agency. Units include projects in construction and expected to open by end of NYC FY’11 Agency Total Units at Year 5 5-Year Target% Complete 10-Year Commitment% Complete HPD5951,39942%3,12519% DHCR15350430%1,00015% OTDA14150428%1,00014% OMH14956726%1,12513% Total1,0382,97435%6,25017%

4. Assumptions for Following Analysis Per Unit Rate = $275,000 Inflation Factor = 3% Avg. price of tax credits FY11-15 = $.84 All funding needs to be expended by FY15 to open by the end of FY16. HPD allocates 60% of its funding for supportive housing units, 40% for low-income. Budget projections include CTL, HOME and LIHTC equity. FY11 & FY12 include remaining High Service Need units. OTDA allocates 55% of their supportive housing funding for NY/NY III, DHCR allocates 50%, and OMH has it’s own NY/NY III budget. DHCR funding allocation based on 2008 supportive housing allocation (subsidy, HOME and LIHTC equity). HPD, OTDA and OMH funding levels taken from OMB and DOB capital plan documents.

5. HPD is 57% Behind Schedule

6. HPD needs $200 million/year to meet their commitment HPD will open 595 units by end of FY11. HPD will have funded an estimated 938 units by end of FY10. At their current budget level ($98.5 million) it would take HPD an additional 6 years (16 years in total) to complete their remaining 2,187 units. To meet their 10-Year commitment (using the 60/40 model) HPD SHLP needs a total budget of $200 million/year.* * Excluding funding needed for any prior City/State agreements.

7. OTDA is 72% Behind Schedule

8. OTDA needs $90 million/year to meet their commitment OTDA will open 141 units by end of FY11. OTDA will have funded an estimated 188 units by end of FY10. At their current budget level ($30 million) it would take OTDA an additional 12 years (22 years in total) to complete their remaining 812 units. To meet their 10-Year commitment (and not at the expense of statewide needs) OTDA needs $90 million/year.

9. DHCR is 70% Behind Schedule

10. DHCR needs $92 million/year to meet their commitment DHCR will open 153 units by end of FY11. DHCR will have funded 243 units by end of FY10. At their current budget level ($43.1 million) it would take DHCR an additional 6 years (16 years in total) to complete their remaining 757 units. To meet their 10-Year commitment (and not at the expense of statewide needs) DHCR needs to allocate $92 million/year from their Unified Funding.

11. OMH is 74% Behind Schedule

12. By the end of FY10, OMH will have approximately 334 funded NY/NYIII units open or in construction but the agency has dozens of buildings in the pipeline. To meet their 10-Year commitment OMH needs to start construction on 158 NY/NY III units per year starting in FY11. This will cost the state an estimated $47.5 million/year. OMH has sufficient funding but needs to increase construction starts from an average of 67 units/year to 158 units/year* * OMH is the only state agency that was allocated additional capital funding for NY/NY III. The agency had $194 million in the FY’10 budget, enough funding for most of the remaining units.