Permanent Housing Development Team ¢â‚¬¢Concern for Independent Living, Inc. ¢â‚¬â€œ Developer, Property Manager,

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  • Permanent Housing

    Presented by:

    Ralph Fasano, Executive Director

    National Alliance to End Homelessness

    July 22, 2013

  • Concern

    • 290 Employees

    • 240+ sites

    • Current Capacity – over 850 residents

    • Approx 336 Units in Development

    • Over $130 million in capital raised in past 5 years

    • Licensed by OMH and OASAS

    • Annual Budget – approx $23 million

  • Mission

     To provide housing and services for

    persons challenged with psychiatric or

    other disabilities and those with very

    low incomes in a manner that enriches

    their lives and the communities we

    serve.

  • Key Values

    • Privacy

    • Safety

    • Dignity

    • Choice

    • Wellness/Recovery Oriented Attitude

    • Work is Important

    • A Healing Environment

    • A Home

    • An Asset to the Community

  • Supervised Community

    Residences

    • Typically 8-12

    residents per

    house

    • Staff supervision

    24/7

    • Transitional

    housing

    • Funding through

    OMH & Medicaid

    Shoreham West CR

  • BEFORE

    Former Family Lodge Adult Home

  • Pollack Gardens

  • Pollack Gardens

    Tax Credit Equity $ 2,824,000

    NYS OMH $ 2,100,000

    CPC $ 5,800,000

    FHLB-NY AHP $ 850,000

    Total Financing $11,574,000

  • Concern Riverhead

    Tax Credit Equity $ 4,696,000

    NYS OMH $ 9,514,000

    FHLB-NY AHP $ 850,000

    Total Development $15,060,000

  • Former South Country Adult Home

  • Concern East Patchogue

  • Concern East Patchogue

    Tax Credit Equity $ 8,652,408

    CPC $ 6,882,691

    NYS OMH $ 2,000,000

    FHLB-NY AHP $ 1,016,662

    Total Development $18,551,761

  • The MacDougal Street

    Apartments

    Tax Credit Equity 4% $ 6,325,382

    NYS OMH/ HFA Bonds $13,465,000

    FHLB-NY AHP $ 967,087

    OMH PDG $ 249,000

    Deferred Dev. Fee $ 758,050

    Total Development $21,764,519

  • The Rochester Avenue

    Apartments

    Tax Credit Equity $10,041,463

    NYS OMH $13,053,904

    FHLB-NY AHP $ 900,000

    OMH PDG $ 249,000

    DHCR/HTF IDDP $ 325,000

    Total Development $24,569,367

  • The Concern Heights Apartments

    Development Budget

    Tax Credit Equity $11,953,559

    CPC $13,000,000

    FHLB-NY AHP $ 1,000,000

    OMH PDG $ 249,000

    OTDA HHAP $ 4,572,614

    NYSERDA $ 30,000

    Total Development $30,805,173

  • The Concern Heights Apartments

    Operating Budget

    Residential Income (Rents) 443,118

    NYS OMH Subsidy & Debt Serv. 1,641,607

    Total Revenue $2,084,725

    Property 637,575

    Services 429,885

    Debt 986,026

    Total Expenses $2,053,845

  • CONCERN AMITYVILLE

  • Concern Amityville Veterans

    Housing

    • 60 Units of new construction – 48-1 BR

    and 12- 2 BR

    • Former military base and recruitment

    center - 600 Albany Avenue

    • Homeless Veterans

    • Modular Construction

    • Community Center

  • Concern Amityville

    Tax Credit Equity $13,132,665

    NYS HHAP $ 4,481,621

    FHLB-NY AHP $ 1,000,000

    OMH Capital $ 1,500,000

    Suffolk County Capital $ 1,500,000

    Total Development $21,614,286

  • Development Team

    • Concern for Independent Living, Inc. – Developer, Property Manager, Services Provider

    • Betts Housing Partners – Chris Betts • Nixon Peabody – Tax Credit Attorney • DeLaCour & Ferrara – Project Architect • Mega Contracting – General Contractor

    • Capsys Corp. – Modular Contractor

  • COMMUNITY RESOURCE CENTER

  • Community Resource Center

    • Collaborative approach to addressing veteran and other homelessness on Long Island.

    • Owned and operated by a subsidiary of the Long Island Coalition for the Homeless.

    • Will bring together veterans organizations, mental health and substance abuse providers, The Veterans Administration, legal services, outreach and case management all under one roof.

  • Community Resource Center

    Metlife Foundation $ 40,000

    LISC/ Citi $ 30,000

    Home Depot Foundation $200,000

    United Way of Long Island $ 3,000

    Bank of America $100,000

    Centrino Foundation $25,000

    Total Funds Raised to Date $398,000

  • Concern Ronkonkoma Veterans

    Housing

    • 59 Units of new construction – 40 1-

    bedroom, 16 2-bedroom, 3 3-bedroom.

    • Thirty units for homeless veterans with

    psychiatric disabilities

    • Thirty units for low income veterans and

    their families

    • On-site services and supports.

  • Concern Ronkonkoma

    Tax Credit Equity $11,968,804

    NYS HHAP $ 1,725,000

    FHLB-NY AHP $ 1,150,000

    OMH Capital $ 7,604,460

    Suffolk County Capital $ 750,000

    Sponsor Funds/Deferred Dev Fee $ 347,810

    Total Development $23,546,074

  • Development Team

    • Concern for Independent Living, Inc. – Developer, Property Manager, Services Provider

    • Betts Housing Partners – Chris Betts • Nixon Peabody – Tax Credit Attorney • DeLaCour & Ferrara – Project Architect

    • Contractor-to be determined

  • HUD-VASH Case Management

    • Rapid re-housing and stabilization services

    • Long Island veterans with HUD-VASH Vouchers.

    • Utilizes a Housing First approach.

    • Assist in expedited placement into permanent housing and provide ongoing supportive services.

    • Work with the VA and CDC of Long Island

  • HUD-VASH Case Management

    Empire National Bank - Loan $232,500

    Home Depot Foundation – Grant $100,000

    Total Development $332,500

  • Norwood Terrace

    • 115 Units of new construction

    • Webster Avenue (off of Gun Hill Rd.)

    • 58 Supportive Housing units for homeless persons with MI. (High Medicaid Users)

    • 57 units of affordable housing

    • Rooftop garden, fitness room, computer/library room, lounge

    • Joint Venture with B&B Supportive Housing

  • Norwood Terrace

    Sources HCR MRT $ 7,250,000

    HFA First & Second Mortgage 3,732,340

    OTDA HHAP $ 5,684,000

    Tax Credit Equity $13,516,747

    NYC HPD $ 1,500,000

    FHLB-NY AHP $ 1,000,000

    NYSERDA $ 138,000

    OMH PDG $ 487,603

    Brownfield Program $ 1,453,368

    Total Development $34,761,058

  • Norwood Terrace Uses

    Acquisition 3,008,910 Soft Costs 5,657,996 Hard Costs 21,525,284 Developers fee 4,568,918 Total Uses $34,761,058

  • Norwood Terrace

    Operating Budget

    Residential Income (Rents) $ 886,965

    NYS OMH Subsidy $ 928,493

    Total Revenue $1,815,458

    Property $ 843,413

    Services $ 688,315

    Debt $ 193,492

    Total Expenses $1,725,220

  • Development Team

    • Concern for Independent Living, Inc. – Co- Developer/Non-Profit Partner, Property Manager, Services Provider

    • B&B Supportive LLC – Co-Developer/For-Profit Partner • Betts Housing Partners – Chris Betts • Hirschen, Singer & Epstein – Tax Credit Attorney • MHG Architects – Project Architect • HLS Builders – General Contractor

  • Why Joint Venture?

    • Capacity Issues

    – Predevelopment costs

    – Community relations

    – Experience with mixed use projects

    – Knowledge and exp. with Funding Sources

    • Access to Sites

  • What Does Joint Venture Partner

    bring to the Deal?

    • The Site

    • Reputation and Track Record

    • Financial Resources

    • Influential Contacts

  • What do We Bring to the Deal?

    • Access to funds not available to the for-

    profit entity

    • Reputation, Image and Track Record

    • Mission Based Attitude

    • Supportive Housing Experience