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Volunteers of America National Services Attainable Housing Coalition Steering Committee

Volunteers of America National Services Attainable Housing Coalition Steering Committee October 24, 2018. Background on Volunteers of America National Services. Volunteers of America, Inc. founded in 1896 31 geographic affiliates covering 46 states and Puerto Rico

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Volunteers of America National Services Attainable Housing Coalition Steering Committee

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  1. Volunteers of America National Services Attainable Housing Coalition Steering Committee October 24, 2018

  2. Background on Volunteers of America National Services Volunteers of America, Inc. founded in 1896 31 geographic affiliates covering 46 states and Puerto Rico Volunteers of America National Services (VOANS)is a separate 501( c)(3) and has a Board of 15 housing and healthcare experts Faith-based through affiliation with VOA, Inc.

  3. Program Service Locations VOA Geographic Affiliate Services

  4. VOANS Housing Portfolio Largest Not For Profit provider of affordable housing in the country 500 properties 20,200 rental homes 42 states + Puerto Rico 270 cities & towns 173 congressional districts 1,174 units in Florida

  5. Components of VOANS Housing Operations

  6. VOANS Real Estate Capacity VOANS has programs, staff and systems in place to implement and manage a variety of real estate development and finance programs. It is also uniquely positioned to provide social services and health care under several programs. Large (real estate development & construction management team) located throughout the country to effectively source and close transactions. VOANS also has national capacity to provide Asset Management and Property Management services

  7. VOANS Workforce Housing Initiatives Significant unmet need in the US for housing for families at or above 60% AMI Lack of affordable housing for working families often drives them out farther and father from the locations where they work Many states are offering incentives to developers to build workforce housing that can be used to assist employers (i.e., Massachusetts established a $100M fund to for workforce housing, Florida’s SAIL program provides gap financing for workforce housing, Minnesota has a funded a workforce housing program, etc.)

  8. Employer Assisted Workforce Housing Employer-assisted housing is any housing program-rental or homeownership – that an employer finances or assists in some way. Communities face increasing pressure to provide more housing for local employees. Employers can work in partnership with their communities to help address the affordable housing shortage. The result is a stable local workforce and a healthy local economy.

  9. The Employer’s Role • Assess Housing Needs • Evaluate and Choose Approach: • Project Development – Increase the Affordable Housing Supply • Program Creation – Help Employees Purchase or Rent Housing

  10. VOANS PartnershipsCoronado Apartments – Dallas, Texas • Built in 1985 • 264 units (50% 1BR, 50% 2BR) • CDT acquired property as limited partner investor in 2006 • Bought out partner in 2011 • 97%+ occupancy for last 5 years

  11. Coronado ApartmentsUnit/Affordability Mix

  12. VOANS Partnership – The Groves at Mile Branch – Covington, LA • Built in 2011; new construction • 94 mixed-income rental units • RNDC, a subsidiary of VOANS served as the developer • $25 million development of one, two and three bedroom apartments at various incomes • 35 single-family homes – 10 Habitat for Humanity and 25 lease purchase • Catalyst to further neighborhood improvement

  13. The Groves Income Mix & Rental Rates

  14. How can we work together? Next Steps Discussion

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