1 Becoming a Landlord Part 1 National Alliance to End Homelessness Washington, DC July 9, 2007 July 9, 2007 Michelle Flynn The Road Home, Salt Lake City, Utah

2 Utah Overview Population 2.5 million Highly Urban/ Highly Rural (1.9 million along Wasatch Front) Conservative voters/legislators (R-76; D-28) Fair Market Rent for a 2 Bedroom is $714; a renter would need to make $14.73/hour; minimum wage is $ SL County average rent is $774, up $133 from 2005; vacancy rate is 5% Utah Homeless Count – 3,250 PIT;15,000 annual.6% of total population 86 % or 2,816 of those are in Salt Lake County

3 Overview of The Road Home 5,799 clients served in 2006: Emergency Shelter (500 / 850 per night) Central Intake and Assistance Housing (225 households daily)  Transitional (traditional and subsidy)  Permanent scattered site (S+C, PSH, other)

4 Why did we get into the housing business? Necessity Length of stay in Emergency Shelter Reason for lengthy stays in Emergency Shelter Analyze shelter stays which reflect national statistics 12 % of individuals utilize 56% of shelter nights

5 How The Road Home Got Into Housing Emergency Shelter and 12 units of TH in units of scattered site housing in 2007  Added more Transitional Housing  Began rental subsidy program in 2001  Increased partnerships in S+ C and PSH Providing on-site services at new 100 unit PSH project for chronic in 2007; new 84-unit project in early 2008 Developing our own new project with 210 apartments to open in spring/summer 2008

6 Considerations for Growth in Housing Agency Capacity  Staff  Budget  Board Experience  Property operation  Property management  Services

7 Considerations p. 2 Agency Mission and Articles of Incorporation Track record, community reputation, audit WHY? What Type of Housing? Analyze your own agency statistics Market Study to show the need Is the timing right? Do you have buy-in from your team, board, community, donors?

8 Considerations p. 3 – FUNDING!

9 Developing Our Own Project: Acquisition and Renovation of a Hotel property Private Donations $9.5 million Holiday Inn with 291 rooms in operation Made the offer end of December 2006 Due diligence crucial (Jan to May 2007)  Environmental  Structural and building system analysis  Funding  Zoning

10 The New Housing Development p. 2 Environmental Phase 1 and Phase 2 Meth/other testing Structural and Building Analysis Architectural services donated Electrical, plumbing, structural, roof, mechanical, etc.

11 The New Housing Development p. 3 Important funding questions reflect your mission and experience Should we seek tax credits? Should we seek project based vouchers? Should we seek other government funds? Acquisition and renovation/conversion funding is the easy part?!?! Yes! Operating and service funding projections are crucial

12 The New Housing Development p. 4 Zoning Political Support Design Advisory Committee  Businesses located next to and near the property  Four local churches  Principal of local elementary school and school district homeless liaison  Community Council representatives

13 The New Housing Development p. 5 Facility Development Committee meets weekly during due diligence  Key staff (Exec. Dir., CFO, Programs)  Realtor  Attorney  Banker  Construction Company  Financial investment  Environmental  Architect  Key donors

14 The New Housing Development p. 6 Plan of Action Some of the Decisions to be Made Property management in-house or contract Landscape and maintenance in-house or contract Retail or other rental space on property Management structure Separation of property management and case management

15 Creating the Program Tenant screening and selection Supportive services plan Policy and procedures manual Safety and security Maintaining the facility Tenant participation and involvement Agency partner involvement Staff job descriptions and training…

16 Next Steps Closing Date of August 30, 2007 Then the fun begins! Renovation and conversion Building partnerships Solidifying funding Planning on-site services Engaging the local community

17 The Best Places to Get Help! Local Housing Authorities Board / Volunteer Experts Partner Agencies State / County Housing Depts. On-site visits to other communities Corporation for Supportive Housing!   Toolkit for Developing/Operating Supportive Hsg

18 Contact Information: Michelle C. Flynn Associate Executive Director of Programs The Road Home 210 South Rio Grande Street Salt Lake City, Utah (801)