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Affordable Housing Workshop

Affordable Housing Workshop. William Huang 2.7.11. Discussion Issues. 1. Funding Priorities 2. Inclusionary Housing Modifications 3. Project Housed 4. Permanent Sources . Working Principles. Affordable housing is a right

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Affordable Housing Workshop

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  1. Affordable Housing Workshop William Huang 2.7.11

  2. Discussion Issues 1. Funding Priorities 2. Inclusionary Housing Modifications 3. Project Housed 4. Permanent Sources

  3. Working Principles • Affordable housing is a right • Economic and ethnic diversity is critical to a dynamic city • Affordable housing is a Pasadena priority • Projects need to be geographically dispersed • Resources are targeted to lowest income households • Resources are highly leveraged • Solutions should be innovative and effective • Design and property management should be of the highest quality

  4. Affordable Housing Programs • Rental Assistance • Section 8 • Shelter Plus Care • Supportive Housing • Housing Production • Affordable Housing Development Assistance • Inclusionary Housing • First Time Homebuyer • Single Family Rehab • Homeless Prevention & Rapid Re-Housing • www.PasadenaHousingSearch.com

  5. #1 Funding Priorities

  6. Housing Needs

  7. Housing Production • Affordable Housing Development • Completed Units • 996 Rental, 204 Ownership • 1,003 VL/L, 197 Mod • Pipeline Units • 171 Rental, 40 Ownership • 198 VL/L, 13 Mod

  8. Housing Production • Non-City Assisted Units • 871 Rental • Inclusionary & Density Bonus Units • 308 Rental, 50 Ownership • 189 VL/L, 169 Mod • First Time Homebuyer Loans • 145 Total Loans (1999 - present)

  9. HOUSING PRODUCTIONAffordable Housing Inventory

  10. Arrival of Senior Bubble Senior Bubble • In 2008, 3.2 million boomers became eligible for Social Security • 7,000-10,000 boomers turn 65 everyday • 17 more years of boomers to come LA County Elder Index • Senior renter required income: $23,000 • 54% age 65+ (312,000 seniors) in LA Co. have less income • Insight & UCLA Ctr. for Health Policy Research

  11. Prelim Funding Priorities • 1. Permanent Supportive Housing • Chronic Homeless Individuals • Formerly Homeless Families • At-Risk of Homeless Families & Individuals • Need defined by annual homeless count • 2. Very Low and Low Income Units • Seniors • Families • Needs defined by RHNA numbers

  12. 3. Pipeline Projects Predevelopment Boadway Apts Heritage Square Nehemiah Court Herkimer Arms Douglas Oaks Lamanda Park Construction Hudson Oaks Parke Street Washington Classics Prelim Funding Priorities

  13. #2 Inclusionary Housing Modifications

  14. Inclusionary Housing • Basic Requirements • 10 units or more • Rental requires 10% low and 5% mod • Ownership requires 15% mod • Options • Build on or off site • Pay In Lieu Fee • Land Donation

  15. Inclusionary Housing • Inclusionary & Density Bonus Units • 308 Rental, 50 Ownership • 189 VL/L, 169 Mod • In Lieu Fees Paid • 9% Rental Projects • 91% Ownership Projects

  16. HOUSING PRODUCTIONInclusionary In-Lieu Fees

  17. HOUSING PRODUCTIONIn-Lieu Fees w/ Leveraging

  18. HOUSING PRODUCTIONInclusionary In-Lieu Fees

  19. Inclusionary Preliminary Ideas • Incentivize building units over in lieu fee option • Restrict in lieu fees to production of low and very low units • Adjust rental requirement to 15% low (i.e., eliminate 5% mod) • Provide larger credit for very low units • Increase inclusionary requirement in TOD’s to 20% • Follow the impacts of the Palmer Case

  20. #3 Project Housed

  21. Homeless Count • 2011 Homeless Count was conducted on 1/26/11 • 2010 point-in-time count is 1,137 persons • 20% decrease between 2005-2008, 17% increase between 2008-2010 • 57% of persons counted were homeless 1 year or more • 28% are disabled

  22. Project Housed • Chronic Homeless • Humane • Economical • Emergency Rooms • Courts • Jails • Vulnerability Index

  23. Vulnerability Index Dr. Jim O’Connell, Healthcare for the Homeless, Boston, MA: “The painfully obvious lesson for me has been the futility of solving this complex social problem solely with new approaches to medical or mental health care…I dream of writing a prescription for an apartment, a studio, an SRO, or any safe housing program, good for one month, with 12 refills.”

  24. Vulnerability Index • Identify & house the most fragile persons • More than three hospitalizations in a year • More than three emergency room visits in the previous three months • Aged 60 or older • Cirrhosis of the liver • End-stage renal disease • History of frostbite, immersion foot, or hypothermia • HIV+/AIDS • Tri-morbidity: co-occurring psychiatric, substance abuse, and chronic medical condition

  25. Vulnerability Index • Partner with Common Ground • LA Skid Row • Santa Monica • San Diego • Hollywood

  26. Project Housed Proposed Next Steps • Identify nonprofit organization with capacity and funding to be program manager • Utilize Vulnerability Index • Find scattered sites housing similar to Shelter Plus Care Program • 67 currently housed • 83% in housing after 1 year • Permanently house the top 15 - 20 persons

  27. #4 Permanent Sources

  28. Anticipated Available Funding

  29. Redevelopment Tax Increment Housing Set Aside Funds ?

  30. Documentary Transfer Tax • $744,238 in FY 2010 at $0.55 per $1,000 • $3.86M would have been raised at LA rate of $4.50 • 32 estimated units (if $3.86M allocated to affordable housing) • 2/3rd voter approval

  31. Permanent Funding Sources • Commercial Linkage Fee • $0.64 - $1.06 /SF in West Hollywood • $1.69 - $2.11/SF in Sacramento • $4.79/SF in Santa Monica • $19.00 - $20.00/SF in San Francisco • If located in Santa Monica, IDS would have generated $766,400 for affordable housing

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