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Member Spotlight: Maggie Jones, Tarrant County, TX

Posted By Administration, Tuesday, January 21, 2020

Member Spotlight:

Maggie Jones, Tarrant County, TX

Name:  Maggie Jones

Title:  Assistant Director, Community Development

Organization:  Tarrant County, TX

Length of time in current position:  3.5 years-ish

How do you define community development?

Community development is everything! It is building infrastructure, restoring housing, expanding

transportation, addressing homelessness, promoting economic development, helping others, connecting the dots, solving problems in a creative way. Point to just about anything and you can tie it right back to community development. That’s why it is such an amazing field!

What three skills do you find most useful in your work creating community?

1.       Being kind.

2.       Being kind.

3.       Being kind.

Build genuine relationships, understanding, and empathy are essential to this work because success is not possible if you cannot better understand the needs of those you serve.

Share your proudest professional achievement or moment in your career. 

Completing Implementing Public Policy through Harvard Kennedy School’s Executive Education program while working full-time and raising a family. The work at HKS applied directly to my work at the office and positively impacted how I parent (really!) Vice versa, being a parent has made me a better community development advocate and student. It is a beautiful combination!

Describe your involvement with NACCED.

Fortunately for me, Tarrant County has a long history of being involved with NACCED. I’m proud to be part of the Membership Committee and a NACCED member. Also, did you KNOW that there’s this little conference happening in Fort Worth in October? I hear it is going to be amazing and you’re going to want to check it out. ;-)

Who is the most famous person you’ve ever met?

I didn’t meet her, but I had the honor of watching Michelle Obama and Corey Booker speak at the National Alliance to End Homelessness several years ago.

And of course – is a hot dog a sandwich?

Duh! A dear friend of mine and I would grab sandwiches nearly every Tuesday for years. We had this debate a number of times and we always put hot dogs and hamburgers in this category – tacos, too. If it is between two sides of bread, it is definitely a sandwich.

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New Year Message from Executive Director Laura DeMaria

Posted By Laura DeMaria, Thursday, January 2, 2020

Dear NACCED Members,

Happy New Year! As 2020 begins, I wanted to take the time to thank you for your continued support of NACCED, as well as preview all the events your staff, Board of Directors, Committees and conference hosts will be leading this year. One of the greatest benefits of being a NACCED member is the opportunity to meet and interact with both your fellow members, and the NACCED staff, at networking and education events throughout the year. Save the date and join us!


  • Legislative Conference: February 27-March 1, 2020 in Washington, DC. Come to Washington for the latest on legislative, regulatory and federal budgetary updates. We’re excited this year to hear from Congresswoman Rep. Suzan Delbene, the multifamily team at Fannie Mae, and Harvard Kennedy School of Government Professor Matt Andrews. Learn more and register here.
  • Community Development Week: April 13-18, 2020 (Everywhere!). Community Development Week is an opportunity for local governments to come together to celebrate the impact of the CDBG and HOME programs. We’ll share NACCED’s social media tips, advocacy toolkit, community development themed podcasts, and more resources to help your community tell your story.
  • Rental Housing Assistance Training: April 21-22, 2020 in Washington, DC. This intensive, two-day training will cover the HOME regulations for rental housing including both the development and long term compliance of affordable housing. Topics include funding decisions and eligibility requirements, underwriting, rents and income limits, and long-term compliance. This training builds on the Building HOME training basics and takes a more in-depth look at the program requirements including implementing changes for Rental under the new HOME rule. Learn more and register here.
  • Summer Meeting: July 16-18, 2020 in Orange County, FL (Orlando). NACCED joins NACo for its Annual Meeting to hold our own Committee meetings and contribute to NACO’s Community, Economic and Workforce Development Steering Committee. View a list of NACCED’s Committees and view pictures from last year’s summer meeting in Clark County, NV. No cost to attend. Learn more and register here.
  • Annual Conference: October 18-21, 2020 in Tarrant County, TX (Fort Worth). The biggest event of the year, NACCED’s Annual Educational Conference and Training brings together housing and community development professionals from across the country for three days of networking and education. This year’s theme is Howdy, Partnerships! Revitalizing Communities Together. View the program and pictures from the 2019 conference. Registration opens this spring!

There’s plenty more great content coming your way this year, including a new member spotlight feature to come in future Alert emails, fresh new episodes of NACCED’s Holistic Housing Show podcast, an advocacy webinar series led by Policy Director Katelynn Harris, the opportunity to apply for NACCED’s Annual Awards of Excellence – and more!

2020 is shaping up to be another big year at NACCED, and I’m grateful you’ll be with us to continue to find connection, growth and significance among your peers in community development. If you have any questions, please do not hesitate to reach out to me directly any time via email at ldemaria@nacced.org or by phone at (202) 367-2364.

I look forward to seeing you in 2020!




Laura DeMaria
Executive Director

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NACCED 44th Annual Conference Recap

Posted By Administration, Monday, October 21, 2019
Last week, community and economic development leaders from around the nation gathered in Tucson, Arizona for NACCED’s 44th Annual Educational Conference and Training, hosted by Pima County! It was an exciting week of networking and educational sessions that allowed new and former colleagues to come together to discuss topics such as inclusive economic growth, preventing displacement in Opportunity Zones, LIHTC as a revitalization tool, and so much more!
 
Sunday saw a packed room for a day of NACCED’s Board and Committee meetings, where members and attendees discussed NACCED’s newly slated Board, projections for next year’s budget, and the business of NACCED’s Community Development, Economic Development, Housing, Membership, and Education Committees.
 
After warm welcomes from local officials and a blessing from the Tohono O’odham Nation, Monday morning kicked off a full schedule of programming, beginning with a HOME and CDBG update from retiring career staffer at HUD, Steve Johnson, Director, Entitlement Communities Division, Office of Block Grant Assistance; and a thought-provoking case study on Reducing Evictions in Pima County from the University of Arizona Innovation for Justice Project. Monday’s afternoon included several educational sessions where attendees learned about important housing, community and economic development topics such as tackling homelessness and joblessness, innovative capacity building, and neighborhood revitalization strategies.
 
Monday night attendees enjoyed an evening reception at the Arizona Historical Society Museum sponsored by Zoom Grants and participated in the annual Silent Auction for the John C. Murphy Scholarship fund, which raised over $1,750 for next year’s scholarship awardee. 
 
The conference program resumed Tuesday morning with a Washington Update from NACCED’s Policy Director, Katelynn Harris and NACO’s Associate Legislative Director, Daria Daniels, followed by a fireside chat with HUD staff and policy experts on how to prevent gentrification and displacement within Opportunity Zones. After a few more breakout sessions full of education opportunities, attendee’s heard from keynote speaker M. Yasmina McCarty, CEO of the New Growth Innovation Network, on the new roles for government in the drive for inclusive, quality growth by utilizing the resources already available to county governments in new innovative ways.
 
The conference concluded on the grounds of the Arizona-Sonora Desert Museum, where attendees enjoyed an outdoor walking tour of the grounds, including butterfly and cacti gardens, and observing desert wildlife close up. During drinks and dinner, attendees watched the sun set over the desert to the tune of a lively mariachi band.
 
Be sure to check out all the photos from the event on NACCED’s Facebook page.
 
For those who attended, we’d love your feedback. We want to know what you loved, what we could do better and any other comments that will help improve the annual meeting each year. You can take the survey here and thank you to those who have already provided feedback!
 
Join us next year in Fort Worth, Texas for the 45th Annual Educational Conference and Training hosted by Tarrant County, October 18-21, 2020! The call for content is open, so send in your ideas for next year’s conference now.
 
More details to come!

 

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NACCED Summer Meeting Recap

Posted By Administration, Monday, July 22, 2019
Updated: Monday, July 22, 2019

Earlier this month, NACCED staff and members convened in Clark County, NV for NACCED’s summer meeting and the NACo Annual Conference. Across three action-packed days, NACCED held its Board and Committee meetings, toured a housing center for low-income seniors, participated in NACo’s Community, Economic and Workforce Development (CEWD) policy steering committee, heard from nationally-recognized speakers and had the opportunity to network and socialize.

NACCED’s six standing committees met on the first day. The six committees are Resolutions, Housing, Community Development, Economic Development, Membership and Education. Highlights from the meetings include the discussion of several resolutions developed by NACCED for adoption by NACo, on topics including the New Market Tax Credits and Opportunity Zones; a presentation by Chair Karen Skepper (Anoka County, MN) during the Economic Development Committee on the economic impact of a major PGA tour hosted by Anoka County and partners, and lessons that other local governments could take away; and the Membership Committee continued discussion strategizing on how to engage with student members and universities in order to build NACCED’s leadership pipeline.

On the second day, attendees had the opportunity to tour an in-development senior center at Las Vegas’s City Impact Center. The senior center is designed to house low-income seniors, allowing them to age in place with an aid or adult child in residence, with the added benefit of in-house facilities like a medical center, gym, recreation room and classes. The Board of Directors meeting followed, where NACCED’s leadership reviewed the association’s most recent financial statement, approved the 2018 audit, heard an update from Executive Director Laura DeMaria on the success of NACCED’s podcast and other initiatives and discussed this year’s annual conference program, among other items.

Attendees also had the opportunity to attend NACo’s Community, Economic and Workforce Development (CEWD) policy steering committee, where Executive Director of the White House Council on Opportunity Zones Scott Turner spoke. NACCED President Mitchell Glasser also addressed the meeting, sharing information on how NACCED serves counties and advocates for policy at the national level. On the final day, NACCED members attended NACo’s Large Urban County Caucus meeting, where speakers from the public, private and political spheres discussed a range of issues facing urban governments across the country.

Check out more photos from the meeting in Las Vegas on Facebook. NACCED will be heading to Orange County (Orlando), FL in July 2020 for NACo’s Annual meeting.

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Member Spotlight: Four Homes in Five Days

Posted By Administration , Tuesday, April 23, 2019
Updated: Tuesday, April 23, 2019

Imagine four affordable new homes built in five days! This was made possible thanks to a “Builders’ Blitz” organized by Habitat for Humanity of Greater Orlando and Apopka Area based in Central Florida. Four local builders donated their time, talent and materials to build four homes for four new families in five days. 

Orange County government played an important role in the project by providing $1.6 million to cover land acquisition and infrastructure development. The funds were provided as a grant from local general revenue funds and from Community Development Block Grant (CDBG) funds. Orange County’s Building Division also offered on-site/on-call building inspectors to perform the numerous inspections needed to allow the completion of these homes in a very short period of time. 

Arbor Bend is one of three affordable communities that Habitat for Humanity has developed in the Greater Orlando area and a fourth one is under way. The single-family homes range from three to four bedrooms and include energy efficient appliances and landscaped yards.

For the Habitat’s homebuyers, the journey to homeownersh
ip is challenging; they must complete many homeownership classes and at least 200 work hours with the organization. However, with rents for a one-bedroom apartment reaching now $1,000 per month in theOrlando area, these families know the sacrifice is well worth it. In the near future, another 34 low income homebuyers will call Arbor Bend in South Apopka their new home thanks to this innovative public and private partnership. 

Photos and story courtesy of Orange County, Florida


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NACCED 2019 Legislative Meeting: Understanding Washington

Posted By Administration, Thursday, March 7, 2019

In early March, NACCED members came to Washington, DC for NACCED’s annual Legislative Meeting, in conjunction with the National Association of Counties (NACo) Legislative Meeting. Over the course of four days, attendees received policy and federal budget updates from White House and partner staff; made visits to Congressional offices to advocate for CDBG and HOME; held Board and Committee meetings; presented policy resolutions to NACo’s Community, Economic and Workforce Development Steering Committee; and heard directly from HUD career staff on the status of program funding and regulatory updates. At the end of the week, attendees left Washington with a wealth of knowledge on federal level policy to take back to their communities, as well as strengthened relationships with other NACCED members and partners at HUD and NACo. See below a recap of meeting highlights.

Thursday, February 28 

The first meeting day kicked off at the Cannon House Office Building on Capitol Hill, with a federal policy and HUD budget update from Doug Rice, a Senior Policy Analyst for the Center on Budget and Policy Priorities. Doug gave attendees an overview of the Fiscal Year 2020 budget and appropriations process with specific focus on the Transportation, Housing and Urban Development and Related Agencies (THUD) appropriations spending bill. Doug shared his predictions on the FY2020 budget, including that on the President’s proposed budget, CDBG will most likely be zeroed out as in prior years; however, Congress will most likely fund the program at recent levels. He also noted that GSE (Fannie Mae, Freddie Mac) reform may be on the Congressional agenda. View Doug's presentation

Doug’s comments were followed by a presentation from NACCED Executive Director Laura DeMaria and NACCED Vice President Mary Keating (DuPage County, IL) on tips and best practices for making a successful visit to a Congressional office. NACCED joins the CDBG and HOME coalitions in requesting $3.8 and $1.5 billion for CDBG and HOME, respectively.

The last speaker of the day was Ben Hobbs, Special Assistant to the President for Domestic Policy and the White House Domestic Policy Council’s lead on Opportunity Zones. Ben gave a brief history of the genesis of Opportunity Zones, which continue to be a priority for the Trump Administration and an important new feature in the urban revitalization landscape. Ben shared that, in the next few days, the second round of regulations will head from the US Department of Treasury, to the White House, to the Federal Register. The White House and Treasury will be seeking comments. Ultimately, the two sets of rules will be condensed into one, and private investors will be able to act on this final guidance. Further, with the recent Executive Order on Opportunity Zones, HUD Secretary Ben Carson Chairs the inter-agency OZ Council, giving HUD a lead on implementation of OZs in the coming months. Hobbs also shared that he is working on a one-stop-shop Opportunity Zones website with information geared toward investors, community leaders and entrepreneurs. Cross-agency members of the Opportunity Zones Council will also be making visits into communities on the ground.

In the afternoon, attendees had the opportunity to visit with key Congressional offices, including Sen. Marco Rubio (R-FL); newly-elected Rep. Ben McAdams (D-UT), the former mayor of Salt Lake County; and Sen. Tina Smith (D-MN) to share information about the housing and community development projects in their communities. The evening ended with a networking event on the Hill for attendees to reflect on the information learned and experience gained while advocating for their programs.

Friday, March 1

On Friday, attendees gathered at the Washington Hilton, the site of NACo’s Legislative Conference, to convene Committees and hold the Board of Directors meeting. All of NACCED’s committees met: Housing, Education, Membership, Community Development, Economic Development, and Resolutions. During the Housing Committee meeting, New York City Dept. of Housing Preservation and Development VP of Government Affairs Elizabeth Strojan joined to give an overview of the LIHTC program and answer questions from members. Additional committee action items included brainstorming educational topics for this year’s NACCED Annual Educational Conference and Training; discussing upcoming HOME and related training provided to members by NACCED and partners; adopted NACCED’s 2019 Policy Priorities; and discussion and approval of proposed resolutions on HUD appropriations and guidance on Opportunity Zones. Each year, NACCED submits resolutions to the NACo Community, Economic and Workforce Development Steering Committee for adoption. 

Additionally, attendees heard program and policy updates from HUD career staff, including Claudette Fernandez, Director, HUD’s Office of Block Grant Assistance; Steve Johnson, Director, Entitlement Communities Division; and Peter Huber, Deputy Director of HUD’s Office of Affordable Housing Programs.

View Peter Huber's presentation

View Steve Johnson's presentation


In the evening, NACCED held its Board and Committee Chairs and Vice Chairs dinner in DuPont Circle, a great way to reconnect with attendees ahead of NACo’s Legislative Meeting. 

Saturday, March 2 & Sunday, March 3

NACCED is a proud NACo affiliate and holds a seat on NACo’s Community, Economic and Workforce Development (CEWD) Steering Committee. On Saturday, NACCED attendees joined the subcommittee meeting to discuss their sponsored resolution on Opportunity Zones. On Sunday, attendees watched the Large Urban County Caucus meeting, which featured speakers including Commissioners from across the country, and experts from the White House and private sector and HUD, discussing issues like homelessness and healthcare access.

Be sure to check out all the photos from this year’s meeting, and we hope you will join us for next year’s Legislative Conference, February 27-March 1, 2020 in Washington, DC.

 

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Guest Blog Post: Leveraging Mobile Technology for Construction Site Compliance

Posted By LCPtracker, Wednesday, February 13, 2019
Updated: Wednesday, February 13, 2019


A dollar saved is a dollar earned
– a valuable phrase for any smart organization looking to increase profitability.


When the cost of business increases, it’s only natural to look for ways to maintain margins. Often, this means investing in processes that maximize efficiency and reduce costs. And for a construction industry struggling with project delays and increased labor costs due to a labor shortage, there’s no better time to invest in one of the biggest technology trends of 2019.

Mobile/Cloud Technology and Onsite Compliance

Many experts argue that upgrading administrative processes out in the field with tablets will be necessary to remain competitive and cost-effective in the construction industry. In fact, mobile technology was among the fastest growing investments of 2018 and is expected to be an even bigger trend in 2019.

In the context of public works projects specifically, one of the hottest topics for tablet utilization is monitoring construction site compliance – most notably for ensuring that jobsite activity accurately aligns with data reported on compliance documents. 

As any general contractor and awarding government agency knows, a federally funded project means prevailing wages and, by association, certified payroll reports. And although these entities may already have a labor compliance software solution to monitor this process, they may not stop to consider that a certified payroll solution alone isn’t always enough.

The Disconnect Between the Field and Office

A certified payroll report tells a story. And it might appear as though an accurate report means a contractor is compliant, but that isn’t necessarily the case. Paperwork, unfortunately, does not always tell the whole story. There are various instances in which a contractor appears compliant on the surface but is actually still underpaying their employees.

How so, you ask? Well, while there are a few cases of deliberate falsification of documents, it’s entirely possible (and probably more likely) that a contractor is not even aware that they are violating prevailing wage law.

One of those reasons? Misclassification. Let’s say an employee that normally does carpentry work instead performs sheet metal work for a week. The contractor then forgets to change his pay rate to reflect the temporary change in the worker’s craft, and consequently, he is underpaid for that week.


Or maybe a construction worker is working on multiple jobs in multiple different counties – each with their own separate prevailing wage rates. You can begin to imagine just how possible it is that the worker’s hours get misreported on one project vs. another, and how that might affect the worker’s gross pay.

In each of these cases, it’s possible for a contractor to be non-compliant, even if it does not appear so on the certified payroll report. And as many general contractors are already aware, they are potentially liable if any subcontractor underpays.

 

Field Interviews for Compliance


One of the most common ways for this disconnect to be addressed is through field interviews conducted on the jobsite. Government agencies and general/prime contractor administrators will walk through construction sites to interview workers about their job responsibilities and compensation. They will then compare this data to the certified payroll reports to verify the information and illuminate discrepancies.


Historically, this process - just like any other onsite administrative task - has been conducted via pen and paper. Perhaps even more time-consuming, is the data verification part of this process, which consists of searching through hundreds (if not thousands) of paper certified payroll reports to confirm the data matches.

Wouldn’t it be nice if this whole process could be streamlined through electronic interviews on a tablet? Better yet, imagine how much time would be saved if those interview results were automatically cross- checked with the certified payroll data submitted through a cloud-based compliance solution?

LCPtracker just released a new mobile application for this purpose. For more information about OnSite, our new tablet-based application for field interviews, check out: https://www.lcptracker.com/solutions/onsite

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NACCED Executive Board Meets with White House, HUD Officials

Posted By Administration, Tuesday, November 27, 2018
Updated: Monday, November 26, 2018

This month, the NACCED Executive Board met in Washington, DC for their annual end of year meeting. The NACCED Executive Board consists of President, Mitchell Glasser (Orange County, FL), Vice President, Mary Keating (DuPage County, IL), Secretary/Treasurer, Cheryl Markham (King County, WA-joined telephonically), NACCED Rep. to NACo, Patricia Ward (Tarrant County, TX) and Immediate Past President, Karen Wiley (Salt Lake County, UT-not present). Also in attendance for the meeting was former President, Chuck Robbins (Clackamas County, OR). During their time in Washington, the group also met with officials from the White House and the U.S. Department of Housing and Urban Development Community Planning and Development Division.

The group first met with Benjamin Hobbs, a White House Policy Advisor for domestic policy. Hobbs is a former Special Policy Advisor for the Department of Housing and Urban Development’s Office of Public and Indian Housing. The conversation with Hobbs focused around Opportunity Zones and how the Administration can make access to this new resource more accessible for communities across the country. The NACCED Executive Board had some pertinent suggestions for the Opportunity Zones rollout, and also relayed some of the issues happening at the local level with the tax benefit. The discussion also centered around making HUD resources more efficient and easier to use. At a time when housing costs continue to rise, it is important for the federal dollars to get a big return on investment. NACCED shared some ideas on how to make it easier for local governments to utilize HUD funds for important housing and community development projects.

Following the White House meeting, the group went to HUD headquarters where they met with Virginia Sardone, Director of the Office of Affordable Housing Programs, Peter Huber, Deputy Director of the Office of Affordable Housing Programs, Claudette Fernandez, the new Director of the Office of Block Grant Assistance, Steve Johnson, Director of the Entitlement Communities Division of the Office of Block Grant Assistance, Stan Gimont, Deputy Assistant Secretary for Grant Programs, and Norman Suchar, Director of the Office of Special Needs Assistance Programs. The discussion focused on what HUD grantees can expect regarding FY 2019 HUD appropriations, the future of the Neighborhood Stabilization Program (NSP), Continuum of Care program issues, the HOME Investments Partnership Community Housing Development Organization (CHDO) set-aside, and more.  These meetings provide NACCED with the opportunity ask questions of HUD’s decision makers, while also relaying information about what’s happening at the local level for grantees executing HUD programs. 

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NACCED Attends White House Housing Affordability Roundtable

Posted By Administration, Tuesday, November 27, 2018
Updated: Monday, November 26, 2018

NACCED recently had the opportunity to attend the first Housing Affordability Roundtable at the White House. This event brought mayors and county commissioners to Washington to speak with the Administration’s top housing officials about the affordability challenges and solutions happening in communities across the country.

HUD Secretary Ben Carson kicked off the event by outlining some of the affordable housing issues HUD is working to address including the issuance of new condo rules, increasing housing density, incentivizing the private sector to build affordable housing, and working with landlords to get vouchers accepted in more housing developments. Following the Secretary’s remarks, the discussion opened up to the local government leaders who shared some of the issues happening in their communities. Representatives from a wide range of communities were in attendance, including county commissioners from NACCED members El Paso County, CO and King County, WA.

The discussion centered on issues including the gap in resources to help complete affordable housing developments, the lack of resources to allow seniors to age in place, the need for more affordable housing infrastructure, the costs of affordable housing including labor, materials, and zoning regulations, and impact that Opportunity Zones will have on the affordable housing stock.

The meeting ended on a positive note, as Secretary Carson noted solutions to these issues cannot be found without open discussion. HUD and White House staff said the roundtable was just the first in a series of discussions with local government leaders on affordable housing issues. NACCED looks forward to continuing these conversations with the top affordable housing decision makers and building on relationships that will help NACCED members do more for their communities. 

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Public-Private Partnerships: Developing Quality Affordable Housing with Tax Credits

Posted By Administration, Monday, October 29, 2018
Updated: Thursday, October 25, 2018
By Crystal LaTier, El Paso County, Colorado Economic Development Department 

When examining the production of affordable housing within the United States, it is clear that driving forces behind development include the complex financial tools known as Low Income Housing Tax Credits (LIHTC) and Private Activity Bonds (PABs). Both of these tools are federal subsidies that incentivize affordable rental housing. In the current housing market, subsidiaries from multiple sources are crucial to making properties financially feasible.

The LIHTC program was established as part of the Tax Reform Act of 1986. It provides tax incentives which encourage investments in the development, acquisition, and rehabilitation of affordable rental housing. Investors are able to claim tax credits on their federal income tax returns. The equity raised with the investments can then be used for newly constructed or substantially rehabilitated affordable housing properties for low-income households. LIHTCs provide equity equal to the present value of either 30 percent (referred to in this report as the 4 percent credit) or 70 percent (referred to as the 9 percent credit) of the eligible costs of a low-income housing project, depending in part on whether tax-exempt bonds are used to finance the project.

There are requirements that must be met to ensure the project qualifies for the credits. Those requirements include minimum unit set-asides and rent restrictions. There are a variety of ways a project can ensure they are meeting the requirements:

  • Either through the 40/60 test: meaning 40 percent of the units are set aside for renters earning no more than 60 percent of the area’s median income;
  • Or the 20/50 test: meaning 20 percent of the units are set aside for renters earning no more than 50 percent of the area’s median income;
  • Or the income averaging test: meaning that 40 percent of the units are set for anyone earning up to 80 percent of the area’s median income, provided the average income/rent limit in the property is 60 percent or less of the area’s median income

In El Paso County, Colorado, Inland Group (an experienced affordable housing developer based in Washington) was able to not only effectively use LIHTC and PABs, but layer in a third subsidy: 4% state tax credits. This third subsidy was especially significant, as it was not only very competitive, but the first development ever to receive state tax credits in the region.  The feat was likely gained due to Inland Group’s ability to recognize the need for senior housing in El Paso County, execute thorough and thoughtful development plans, clearly demonstrate their capacity through successful past performance with tax credit developments, and their ability to secure robust local financial and political support for the project.

So how did tax credits really impact the finances of the development? Total development costs for this 180 unit senior complex were just over $31M. $21M in PAB were issued, which allowed for nearly $10M in tax credit equity with another $1.7M in state tax credit equity. Additionally, the project was able to leverage nearly $2M in local soft funds—those funds came from federal entitlement programs and a local housing trust fund. Legal costs, initial operating costs and developer fees were also factored in.

So what does this complex financial deal actually mean for a community? Well, on October 24, 2018, Inland Group held a ribbon cutting event to show local civic leaders and residents what benefit tax credits can bring to a community. El Paso County, Colorado, like many other areas in the nation, is facing an affordable housing crisis. And with a rising senior population priced out of the current market, many of our long-standing citizens are left with very few affordable housing choices. Inland developed a beautiful complex with state of the art amenities including: a theater room, library, and internet café, raised garden beds and welcoming gathering and common areas. But most importantly, the development contains 180 units of housing eligible to those over the age of 55 making less than 60% of the area’s median income.

This new and affordable housing, not only offers on-site amenities, but is also walking distance to a grocery store and several other shopping options, less than 3 miles from a major hospital and medical provider complex, and right on the public transit bus route. The development has given 180+ seniors in our region access to housing choice within an area that offers all the services and amenities they may need. Every day brings new choices, and today in El Paso County, low-income seniors now have one more housing choice thanks in part to Low Income Housing Tax Credits.

For more information on Traditions at Colorado Springs visit: https://www.traditionsatcoloradosprings.com/

 

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