2. Housing Authority of the City of Nacogdoches
AMP TX
Total Units: 76
2016 RAD Rents
1BR: $326
2BR: $409
3BR: $509
4BR: $547
Bedroom Mix
One: 16
Two: 14
Three: 44
Four: 2
The Nacogdoches Housing Authority operates 1101 housing choice vouchers including the 76 project based to the RAD units. NHA has been involved in several affordable housing developments prior to RAD.
The RAD Conversion used public housing funds and borrowed funds from the NHA’s non-profit.
The project is currently cash flowing and making mortgage payments with interest back to the non-profit.

3. Parkcrest 715 Summit Street, Nacogdoches, TX
AMP TX
Units: 38
Rents 2017
3BR: $519
Bedroom Mix
One:
Two:
Three: 38
Four:
Five:
First Lease Up Date: February 1994

4. Sandy Oaks 804 Jordan Street, Nacogdoches, TX
AMP TX
Units: 38
Rents 2017
1BR: $332
2BR: $417
3BR: $519
4BR: $557
Bedroom Mix
One: 16
Two: 14
Three: 6
Four: 2
First Lease Up Date: July 1986

5. Nacogdoches, TX Sources and Uses
Sources: Uses:
1st Mortgage: $400, Construction Costs: $210, Public Housing Operating Reserves: $263,273 Prof, Relo, Misc. : $15,000
Prior Year Public Housing Capital Funds: $81,615 Legal Fees: $20,000
Operating Fund: $38, Interim Fees: $6,500
ODR: $61,300
IDRR: $456,000
Developer Fees: $15,000
Total Sources: $783, Total Uses: $783,800

6. Entity Relationships
Housing Authority of the City of Nacogdoches, Texas
Sole Member and Manager of NHA Communities, LLC
PBV Contract Administrator
Capital Contributions:
Real property (Sandy Oaks)
Real Property (Parkcrest)
Cash ($383,300)
100% ownership interest
PBV Contract Administrator
$400,000 conventional loan
2% Interest per annum
360 months
Nacogdoches Housing Development Corporation, a Texas nonprofit corporation
Lender
NHA Communities, LLC a Texas limited liability company
Owner/Transferee of Project

7. Lessons Learned After Conversion
You can’t communicate with your long term public housing tenants too much. They have become used to the public housing ways so continue to inform them of the changes.
If you keep the  same maintenance staff the focus shifts somewhat. In public housing, so much focus had been placed on trying to score high on REAC inspections and PHAS.
If you are the PBV administrator and still have an ownership interest in the RAD units, it’s good to get more than one “independent entity” approved by HUD.
If you administer the HCV program, consider how to handle your RAD tenants that apply for that waitlist, including adults in a household that are splitting.