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The Source for Housing Solutions Using Tax Credits to Create Supportive Housing Holly Denniston-Chase Loan Officer.

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Presentation on theme: "The Source for Housing Solutions Using Tax Credits to Create Supportive Housing Holly Denniston-Chase Loan Officer."— Presentation transcript:

1 The Source for Housing Solutions Using Tax Credits to Create Supportive Housing Holly Denniston-Chase Loan Officer

2 What We Do CSH is a touchstone for new ideas and best practices, a collaborative and pragmatic community partner, and an influential advocate for supportive housing. Lines of Business Training & Education Policy Reform Consulting & Assistance Lending Research-backed tools, trainings and knowledge sharing Powerful capital funds, specialty loan products and development expertise Custom community planning and cutting-edge innovations Systems reform, policy collaboration and advocacy

3 Supportive Housing Training Center

4 Southview Villas, Hope Mills, NC Rural Integrated Supportive Housing 64 units (48 one-bedroom and 16 two- bedroom units)

5 Financial Information Capital LIHTC Equity (Investor: Raymond James)$3,945,156 State Tax Credit $1,031,407 Cumberland County Community Loan Fund Loan$ 400,000 Deferred Developers Fee$ 113,615 Bank Loan $ 564,000 Total$6,054,178 Operating (Annual) Net Rental & Other Income $ 273,335 Rental Income from Key Program$ 28,320 Services (Annual) Provided free of charge to residents by Local Lead Agency and its referral agencies, primarily funded by North Carolina Department of Health and Human Services.

6 North 17 Apartments, Phoenix, AZ Supportive Housing Using Foreclosed Property 72 apartments (36 one-bedroom and 36 two-bedroom units) and on- site offices.

7 Financial Information Capital AZ Department of Housing, NSP Grant$6,300,000 FHLB, Affordable Housing Program Grant $ 900,000 Total $7,200,000 Operating (Annual) Property operations $ 79,937 Rent collection $ 432,000 Services (Annual) VSUW Supportive Housing Grant $ 50,000 VSUW Working Poor Grant$ 27,500 Community Bridges, in-kind services$ 0 Private Donations $ 20,000 Total $ 97,500


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