1. ABC’ S AND A T ALE Allison Ladd District of Columbia Housing Finance Agency April 5, 2013

2. P RESENTATION O VERVIEW ABC’s of Preservation in DC DC Housing Finance Agency’s Role A Tale of Two Samuels Samuel J. Simmons Samuel Kelsey Quiz…New Orleans’ Style 2

3. ABC’ S OF P RESERVATION I N DC A dvocacy DC Preservation Catalog 35,000 units Main Goals 1. Increase awareness of projects at-risk 2. Contribute to the preservation of affordable housing 3. Serve as accurate accounting of the total affordable housing stock DC Preservation Network Co-Leaders - Coalition for Nonprofit Housing and Economic Development and Urban Institute 12-15 stakeholders met monthly Advocates, agency representatives (federal and local), developers, owners www.neighborhoodinfodc.org/dcpreservationcatalog 3

4. B uild a Strategy ABC’ S OF P RESERVATION I N DC 2006 2013 4

5. ABC’ S OF P RESERVATION I N DC B uild a Strategy 2012 Task Force and 2013 Report 3 Strategic Goals 1. Preserve approximately 8,000 existing affordable housing units with subsidies that will expire by the year 2020 2. Produce and preserve 10,000 net new affordable housing units by 2020 (10x20) 3. Support the production of 3,000 market rate housing units annually through 2020 24 Action Items Increase Supply Decrease Demand 5 www.taskforce2012.org

6. C ommit Funding FY2013 - Combined DC Funding - $936.5 Million Proposed FY2014 – Mayor proposing $100 million of new funds for affordable housing ABC’ S OF P RESERVATION I N DC 6

7. DC H OUSING F INANCE A GENCY ’ S R OLE Invested $600 million in tax exempt bond proceeds $330 million in 4% Low Income Housing Tax Credit Equity 41 residential developments 24 rehabilitation 17 new construction 7

8. A T ALE OF T WO S AMUELS … …C OLUMBIA H EIGHTS 8 Retail Monthly Rents – 1 BR - $1500 2 BR – $1700-2700 $500K Median Sales New Homes

9. S AMUEL J. S IMMONS - BEFORE 9 175 Units of Senior Housing Built in 1981 - HUD 202 KEY: 100% HAP Contract – 30% of Income for Rent

10. S AMUEL J. S IMMONS - A FTER 10 $55.7 Million Total Development Cost $318K per unit Rent – 1 bedroom $1480 Tenant Services New Everything! Kitchens, Baths, Floors, Common Area and Design

11. S AMUEL K ELSEY - B EFORE 11 150 units (mostly seniors) First floor retail (locally owned small businesses) Built circa 1920 National Register of Historic Places Key - 100% HAP Contract

12. S AMUEL K ELSEY - A FTER 12 $33 million – Total Development Cost $225K per unit Rents – 1 Bedroom - $1,726 Tenant Services

13. Q UIZ … N EW O RLEANS ’ S TYLE ! 13 ABC’s A dvocate B uild a Strategy C ommit Funding Tale of Two Samuels Key - Section 8 HAP Contract

14. T HANK YOU 14