Key Takeaways:
- The Alaska Accelerator Academy is led by Enterprise Community Partners in partnership with the Association of Alaska Housing Authorities
- The Alaska Accelerator Academy supports Tribes and Tribally Designated Housing Entities in Alaska
- Alaska Accelerator Academy participants receive training content specific to Alaska to help them address housing needs in their portfolios and communities.
The Alaska Accelerator Academy builds on the Academy launch at the NAIHC Conference in Anchorage, Alaska.
The Academy supports Tribes and Tribally Designated Housing Entities (TDHEs) across Alaska as they navigate housing challenges such as overcrowding, natural disasters, and rising construction and supply chain costs. Through this program, participants engage with peers and experts, explore practical tools and strategies, and build capacity to advance housing development in their communities.
This initiative is led by Enterprise Community Partners in partnership with the Association of Alaska Housing Authorities (AAHA), which represents 14 regional housing authorities serving as TDHEs 201 federally recognized Tribes across the state. Together, we are tailoring training content for Alaska, highlighting local expertise, and sharing regional case studies to help participants address housing needs across their portfolios and communities.
Four consecutive modules provide key insights into the housing development and management process.
Development Finance and Leveraging Resources | July 22
This session explores how to structure and manage complex funding stacks, with guidance on aligning multiple funding sources and meeting associated compliance and reporting requirements.
- Watch the Development Finance and Leveraging Resources session
Read the Development Finance and Leveraging Resources Transcript
00:00:51.000 --> 00:00:56.000
Alrighty.00:00:56.000 --> 00:01:08.000
All right. Well, good morning, afternoon everybody for the Enterprise's that are on because we're in the afternoon and I know it's just coming around noontime there for you guys there in Alaska.00:01:08.000 --> 00:01:21.000
I want to thank you guys all for being part of our Alaska Accelerator Academy and we did the kickoff the first week of May in Alaska at the NIAC conference.00:01:21.000 --> 00:01:33.000
I just want to just welcome you all again here to our module two for development, finance and Leveraging Resources. And I want to just kind of.00:01:33.000 --> 00:01:44.000
We'll kick things off here with doing introductions and stuff like that for our Enterprise team that is available here for us, myself, Jeff Ackley, Director of Tribal Programs with Enterprise.00:01:44.000 --> 00:01:55.000
And I also have with us Adrienne Norwood, who is going to be in our program manager that's facilitating the deliverables for us.00:01:55.000 --> 00:02:05.000
Um, Surabhi Dhabir, which is our Vice President of Tribal and Rural Programs here within Enterprise, and also, um,00:02:05.000 --> 00:02:19.000
Tracy Dutson as well, um, real program manager with Real Housing Associate Director, I'm sorry, with, uh, Enterprise as well. Will be delivering the content for you guys as well today.00:02:19.000 --> 00:02:26.000
And with that, I want to kick it over to introduce the AAHA.00:02:26.000 --> 00:02:30.000
group that is here. So next slide, please.00:02:30.000 --> 00:02:45.000
Great. Thank you, Jeff. So good morning. Thank you for joining us. My name is Cynthia Gurisko. I am the training and technical assistance program manager for the Association of Alaska Housing Authorities. Some of you may know the association is comprised of Alaska's 14 regional housing authorities00:02:45.000 --> 00:03:02.000
and the Alaska Housing Finance Corporation. We provide unified state federal advocacy and outreach to increase the supply of safe, sanitary, and affordable housing. We also have a training and technical assistance branch that supplies training and technical assistance to Indian housing block grant recipients00:03:02.000 --> 00:03:09.000
At no cost to them. So yeah, we're really excited about this and happy to be here.00:03:09.000 --> 00:03:20.000
Hi everyone, I'm Charlene Miles, you probably recognize me as well. I'm the training and technical assistance program coordinator for the Association of Alaska Housing Authorities.00:03:20.000 --> 00:03:24.000
Where I really support capacity-building efforts.00:03:24.000 --> 00:03:28.000
I'm passionate about helping housing providers and partners.00:03:28.000 --> 00:03:35.000
really helped build effective systems, strengthen compliance, and better serve Alaskan communities.00:03:35.000 --> 00:03:37.000
Thank you.00:03:37.000 --> 00:03:54.000
Thank you, Charlene and Cynthia. And as everybody else may know, that's also on the call to Griffin Forster is the director of AAHA and unable to join us today, but, um, I'm sure he might be able to join us in one of our future modules and stuff as we move forward, so…00:03:54.000 --> 00:03:59.000
Thank you so much for the introductions, and we'll go to the next slide, Adrienne. Thank you so much.00:03:59.000 --> 00:04:00.000
Um, .00:04:00.000 --> 00:04:05.000
Um, participant introductions, like, we have… we have 13 people here on the call.00:04:05.000 --> 00:04:14.000
Um, so we want to start off with just identifying yourself, name, which community or regional housing authority you serve.00:04:14.000 --> 00:04:30.000
And move forward that in your role, your projects that you have, if you have anything on the surface or in the back burner that you're wanting to push through and that Enterprise can help out with you on that for this, for Alaska Accelerator Academy.00:04:30.000 --> 00:04:34.000
And your goal, what you want to leave with today, knowing.00:04:34.000 --> 00:04:36.000
.00:04:36.000 --> 00:04:40.000
We'll kick that over to…00:04:40.000 --> 00:04:46.000
Katrina, would you like to start?00:04:46.000 --> 00:04:47.000
Hi.00:04:47.000 --> 00:04:50.000
or Alice, or whoever, like, I just kind of round robin, so whoever would like to go.00:04:50.000 --> 00:04:51.000
That'd be great.00:04:51.000 --> 00:04:52.000
Can you hear me?00:04:52.000 --> 00:04:53.000
Yeah, we can hear you. I can hear you.00:04:53.000 --> 00:05:03.000
Okay, I'm Katrina. I work at Aleutian Housing Authority. I'm a housing services assistant00:05:03.000 --> 00:05:07.000
What else?00:05:07.000 --> 00:05:10.000
And I think that's it00:05:10.000 --> 00:05:17.000
Any particular projects that you're looking at working on, or wanting to push through to the finish line?00:05:17.000 --> 00:05:30.000
No, I'm mostly here for learning experience. I'm not quite there. I'm pretty new to the… I'm only here for a year and a half and even less in the housing department00:05:30.000 --> 00:05:33.000
So I'm just trying to learn all the things.00:05:33.000 --> 00:05:34.000
Okay, fair enough.00:05:34.000 --> 00:05:37.000
Well, thank you for sharing that with us.00:05:37.000 --> 00:05:42.000
Thank you.00:05:42.000 --> 00:05:46.000
Um… Alice?00:05:46.000 --> 00:05:47.000
Can you hear me?00:05:47.000 --> 00:05:49.000
Yeah, we can hear you.00:05:49.000 --> 00:05:55.000
Good morning. Uvangauna koyak segavan koiak.00:05:55.000 --> 00:06:04.000
My Inupiaq name is Agnuk. I come from the Negrovana and Surabhan family of Wainwright, where I grew up00:06:04.000 --> 00:06:14.000
I work for Cook Inlet Housing Authority and their business improvement coordinator, just like, you know, Katrina, if it just will be a year for me with CHA00:06:14.000 --> 00:06:20.000
Since September last year, so it'll be a couple more months, and it'll be a year for me00:06:20.000 --> 00:06:28.000
So I'm just, you know, taking it all in, learning all the, you know, wonderful programs that, you know, the00:06:28.000 --> 00:06:31.000
Community, even housing is doing00:06:31.000 --> 00:06:34.000
So I'm taking it all in.00:06:34.000 --> 00:06:43.000
And I'm just learning so much and so much information, you know, I'm still… I'm still learning, so I'm excited. Thanks.00:06:43.000 --> 00:06:44.000
That's good. Thank you.00:06:44.000 --> 00:06:45.000
Good to see everyone again.00:06:45.000 --> 00:06:51.000
Thank you. It's kind of like drinking from a fire hose pretty much sometimes, isn't it right?00:06:51.000 --> 00:06:56.000
Yeah, so much information, but really, really good.00:06:56.000 --> 00:06:58.000
Alright, well, thank you so much for sharing.00:06:58.000 --> 00:07:03.000
Okay, Leslie?00:07:03.000 --> 00:07:06.000
or Jacob?00:07:06.000 --> 00:07:07.000
Okay.00:07:07.000 --> 00:07:08.000
Hello, I'm Leslie.00:07:08.000 --> 00:07:17.000
I'm from Haines, I work for Toku Indian Association, and I'm the finance director. And we've just got we got a new grant that we're working on to rehab a building for a childcare center00:07:17.000 --> 00:07:18.000
Awesome.00:07:18.000 --> 00:07:21.000
And then we have another grant application in00:07:21.000 --> 00:07:31.000
For some fourplexes so and Aliza Tompkins, we work together and she's the housing director and she just stepped away from her desk.00:07:31.000 --> 00:07:32.000
Yep.00:07:32.000 --> 00:07:36.000
Oh, okay. I was gonna call on her next, so, like, okay, so, so this would be Jacob next coming up here. And how long have you been there with him?00:07:36.000 --> 00:07:38.000
Me, like, 12 years.00:07:38.000 --> 00:07:41.000
Oh, awesome. Congratulations, thank you for your service.00:07:41.000 --> 00:07:42.000
Thanks.00:07:42.000 --> 00:07:44.000
to the tribal communities.00:07:44.000 --> 00:07:45.000
Very cool.00:07:45.000 --> 00:07:46.000
Um, Jacob?00:07:46.000 --> 00:07:49.000
Hey, everyone. Yeah, yeah. Can you guys hear me?00:07:49.000 --> 00:07:50.000
Yep, we gotcha.00:07:50.000 --> 00:08:06.000
All right, great. Yeah, David Brenner here with Housing Authority. I just had my big boy born on July 5th, so that's why I couldn't join the eighth session. So I'm still working from home here00:08:06.000 --> 00:08:16.000
But things are gone did, and I am the real estate portfolio analyst at Griffin Housing Authority. We have a slew of initiatives and projects going on. But00:08:16.000 --> 00:08:23.000
As we walk through this, if there's any that's relevant, kind of quotas, we'll make sure to bring them up. We've got a homeownership initiative going on00:08:23.000 --> 00:08:35.000
other than some of our LIH developments, as well as ultimately trying to think about what is the next step, the phase for our overarching development00:08:35.000 --> 00:08:58.000
Maybe some disposition strategy for some where you want some to just want. So those are some of the questions we're thinking about now is some of our older light tech developments exit related.00:08:58.000 --> 00:08:59.000
Yeah.00:08:59.000 --> 00:09:09.000
Very cool. Hey, and just a random follow-up question for you. So when I was there in May for the NIAC conference, you guys had a duplex or apartments there downtown in Anchorage.00:09:09.000 --> 00:09:10.000
Yeah00:09:10.000 --> 00:09:19.000
Um, is that something that you manage and oversee as well? Um, when you… I think you bought it… I think Cook and Linen bought it from, um, the city of Anchorage or something like that to take care of it, maintain it, because, um, when I was working with Chris, he told me that, yep, they reached out to you guys to…00:09:19.000 --> 00:09:24.000
Take care of it, because they thought you guys would do a good job on that, so…00:09:24.000 --> 00:09:33.000
Yeah, we have a few downtown. I'm trying to think about the one you guys are referencing. I know that the mayor mentioned in a keynote that Elizabeth place, which was like right down the street from00:09:33.000 --> 00:09:39.000
Senator, that's ours. We also have a contouring00:09:39.000 --> 00:09:41.000
Yeah, there's a few00:09:41.000 --> 00:09:45.000
The one you're talking about, particularly with Chris00:09:45.000 --> 00:09:51.000
I'm not sure if we have 52 developments. So I'm sure I know it, but the one you're referencing.00:09:51.000 --> 00:09:58.000
Yeah, it was, it was right… it was just directly across the street from where the NIAC conference was there.00:09:58.000 --> 00:10:00.000
That's Elizabeth Place. Yep. That's a good one00:10:00.000 --> 00:10:07.000
Okay, yep, okay, that was… yeah, it was nice, that was very cool to see, like, you can see right outside of the conference room, everything looks like, too, so…00:10:07.000 --> 00:10:08.000
Very cool.00:10:08.000 --> 00:10:10.000
Yeah, yeah, that's a good one.00:10:10.000 --> 00:10:11.000
Well, thank you.00:10:11.000 --> 00:10:12.000
Um, dude.00:10:12.000 --> 00:10:20.000
Did Liza join back yet, or is she Eliza still, or she's not, she's still out of her office.00:10:20.000 --> 00:10:21.000
She's still out of her office.00:10:21.000 --> 00:10:32.000
She is still okay not a problem. All right, well let's forward then, everybody. We can go yes yep, go ahead, Surabhi.00:10:32.000 --> 00:10:33.000
Oh, sure.00:10:33.000 --> 00:10:34.000
So, Jeff, Mr. B, I just wanted a minute to say hello to everybody.00:10:34.000 --> 00:10:48.000
We're really excited to partner with AAHA, with Griffin and Cynthia and Charlene to present this training. We're excited to have you guys here, Enterprise does a whole lot of things.00:10:48.000 --> 00:11:06.000
We're with the nonprofit that works on training and technical assistance. We also provide grants. We provide on our capital side additional capital to actually help make deals move forward, including LIHTC syndication,00:11:06.000 --> 00:11:21.000
guaranteed mortgages and investments from our loan funds, so a whole slew of things that we bring together as sort of one Enterprise, and we are honored to work alongside all of you to help meet the housing needs.00:11:21.000 --> 00:11:38.000
Um, in Alaska and across tribal communities in the lower 48 as well. I just want to mention, I think, one of our strong partners that we work with in the Midwest is also on the call, Donald. If you wanted to jump on and say hello,00:11:38.000 --> 00:11:52.000
They bring a lot of expertise as well. And so feel free to jump in as we're going through slides and add from your experience as well. If you'd like to say hello, please jump on.00:11:52.000 --> 00:11:53.000
Yeah. Hi, Donald. Thank you.00:11:53.000 --> 00:11:54.000
Okay, yeah, thank you very much.00:11:54.000 --> 00:11:56.000
Hi, Jeff. Yeah? Yeah, I was able… I was at a…00:11:56.000 --> 00:11:57.000
Good. Like, long time no see, right? We saw you at the GleeHub meeting a week or so ago.00:11:57.000 --> 00:12:04.000
Yeah, I just was… saw Jeff in person just a few weeks ago here in Minnesota.00:12:04.000 --> 00:12:06.000
Um,00:12:06.000 --> 00:12:12.000
Yeah, so I just want to say hello, everybody, and it was, you know, just my first impression was it was great to hear the language spoken today.00:12:12.000 --> 00:12:17.000
Um, I really appreciate that.00:12:17.000 --> 00:12:21.000
being injected into the work that we do.00:12:21.000 --> 00:12:29.000
Um, again, my name is Donald Goggle, I am part of the community development team at MHP, and we do a lot of similar, you know, technical assistance and capacity work that00:12:29.000 --> 00:12:34.000
that Enterprise does, as well as others across the state.00:12:34.000 --> 00:12:37.000
excuse me, across the country, um…00:12:37.000 --> 00:12:40.000
Uh, and a lot of times, I mean, you know, there's…00:12:40.000 --> 00:12:47.000
there's a lot of work to be done in Indian housing, so even though what we're doing, you know, a lot of the same work through some of the same funding sources,00:12:47.000 --> 00:12:53.000
Um, I still believe there's so much work in Indian Country that there's… there's just…00:12:53.000 --> 00:13:00.000
There's just so much need there, and not enough resources. I'm really happy to be able to participate, even as a listener today.00:13:00.000 --> 00:13:06.000
Um, just to, uh, get some exposure for myself to the Alaskan Native communities.00:13:06.000 --> 00:13:17.000
Uh, as well as maybe possibly provide some feedback to, you know, any or parts of the conversation. So, thank you again for allowing me to be a participant today.00:13:17.000 --> 00:13:24.000
Thank you, Donald, so much for that.00:13:24.000 --> 00:13:30.000
Good deal. All righty. So let's go and move on to our next slide.00:13:30.000 --> 00:13:45.000
So basically everybody, like for those of us joining us here today, we're basically kind of for learning objective objectives for today. Basically, capital stacks and the layers, how they work within each other in our tribal communities.00:13:45.000 --> 00:14:03.000
Um, like, basically with NAHASDA, LIHTC, HUD14, you know, for… and more for other tribal projects. Um, and we know there's, um, also, like, we can map out federal, state, and philanthropic and private dollars as well, because we know we've worked with, like,00:14:03.000 --> 00:14:19.000
Some tribes in the lower 48 and other places that have money available to… they want to push for the affordable housing aspect for our tribal communities and that kind of thing as well. And also underwriting, kind of like the pro forma and size.00:14:19.000 --> 00:14:37.000
Debt with confidence in a way to make a project viable, and make sure that we can service our debt when we build out a project of that kind of thing.00:14:37.000 --> 00:14:55.000
Oh, I'm sorry, like, as we just said, somebody bop in there, but that's fine. Um, and then the other thing is, uh, to leverage those braiding and layered resources to close funding gaps. You know, if it's an AHP grant, or, um, anything else like that that you work with, if in Des Moines, or, you know, any federal branch,00:14:55.000 --> 00:15:00.000
is out there to help service our debt that we need to cover on any of our projects moving forward.00:15:00.000 --> 00:15:08.000
Tracy, is there anything else that you want to interject on that, or are we good?00:15:08.000 --> 00:15:10.000
Okay.00:15:10.000 --> 00:15:11.000
Perfect.00:15:11.000 --> 00:15:14.000
All right, next slide then, please.00:15:14.000 --> 00:15:31.000
So basically how the module works, everybody, so we have kind of like case studies that are driven, so every concept is tied to a real Alaska development, um, as we researched and went through it for everybody to kind of tie into, like, yep, if you know anything about it, if you want to interject on anything as we go through them.00:15:31.000 --> 00:15:47.000
Um, please feel free to, um, ask a question or anything like that, because I want to make sure that this, um, deliverable for everybody here is interactive, engaging, and I don't want people falling asleep or anything, because we know it's, like, mid-afternoon and afternoon for you guys.00:15:47.000 --> 00:16:02.000
up on the afternoon there um and I want to make sure that we're engaged and that we have participation, discussion, all those types of things as we move forward. Um, you know, throughout our time that we have together here today.00:16:02.000 --> 00:16:14.000
By all means, like, we've all been in a lot of conferences and, you know, meetings and stuff like that, where you have somebody that's monotone, like the Ferris Bueller type guy, Bueller, Bueller, Bueller, like, and just, oh, you just get his content and content and whatever, thing like that. I like to make…00:16:14.000 --> 00:16:30.000
mine and our delivery, especially within Enterprise, engaging, interactive, and fun in a way to where like, hey, there's no questions out of the realm of possibility, so feel free to ask or interject at any time. And as we go through it.00:16:30.000 --> 00:16:43.000
throughout the day here. I'm just looking to have that conversation and open stuff like that, because we want to provide the best quality service and information for you guys, as well as we move throughout the day.00:16:43.000 --> 00:16:45.000
All right, next slide.00:16:45.000 --> 00:16:53.000
So, as we can go here, we're going to go into Part 1 of our module on Module 2, the Alaskan Housing Finance Landscape.00:16:53.000 --> 00:17:00.000
And so we next set, next slide. As you guys all know, Alaska by the numbers.00:17:00.000 --> 00:17:17.000
scale-up, you know, needs for all of our financing decisions that we come in close with. So the new home is just in Alaska needs over the next 10 years, or probably $27,500. That's kind of on the low part of it.00:17:17.000 --> 00:17:23.000
However, we know that like census data that is provided to us all the time.00:17:23.000 --> 00:17:26.000
In the lower 48, for that matter, um…00:17:26.000 --> 00:17:42.000
Tribal communities are very underrepresented on their population and data because of historical trauma, different things like that. They don't want to listen to people that come in and have to provide information like that, so tribes are, as they're sovereign in a lot of cases, they don't want to00:17:42.000 --> 00:17:49.000
Wide information or share stuff, too, so… but this is what had most recent data for that.00:17:49.000 --> 00:17:58.000
So good thing too, as well as new units that were authorized statewide, 578, close to 600 there in 2022.00:17:58.000 --> 00:18:13.000
And then overall statewide housing unit shortages around 16,000. So, I mean, there's a huge gap that we want to try to help fill and provide you guys information and content to help you guys close that gap as we move forward.00:18:13.000 --> 00:18:16.000
Okay, next slide.00:18:16.000 --> 00:18:19.000
And so why is Alaska different?00:18:19.000 --> 00:18:25.000
And myself with, you know, on top of the remoteness, climate, short seasons and thin markets.00:18:25.000 --> 00:18:33.000
Um, it really helped me out for being present and being in person in Alaska for the NIAC meeting in May. And then also.00:18:33.000 --> 00:18:45.000
When I was on not a vacation, but it was like a workcation a little bit because I wanted to check out different spots there as well when I was in Alaska um like Skagway, Juneau.00:18:45.000 --> 00:18:52.000
and Ketchikan and that kind of thing to see firsthand the different things that are going on there.00:18:52.000 --> 00:18:56.000
how the issues that you all deal with.00:18:56.000 --> 00:19:05.000
On a yearly basis, as far as different things that, you know, we need to have, um, you have certain times for getting deliverables for00:19:05.000 --> 00:19:06.000
Um…00:19:06.000 --> 00:19:23.000
materials and that kind of thing is you have barge issues and stuff like that, that you have to have certain orders in by a certain time, or you can't do it, and then you have to wait till next year, um, and those types of things, and stuff is always delivered daily by barge there in Alaska, just to make sure that00:19:23.000 --> 00:19:36.000
the needs of every everybody, not just in your tribal communities, but everybody in Alaska are met, you know, throughout, you know, throughout the day and year and months as they move forward. So00:19:36.000 --> 00:19:49.000
And then also you're dealing ever issues with the climate change, um, permafrost issues, erosion, flooding, design and siting costs, because I know you guys had a.00:19:49.000 --> 00:19:59.000
like a tsunami, I believe, that came in in the southeastern part of Alaska, like, a year or two ago. So there's a lot of different things.00:19:59.000 --> 00:20:14.000
that you guys are faced with on a daily basis, on a yearly basis, that you go throughout your programs and trying to develop and plan for future generations and stuff as, you know, just to be for future sustainability and that kind of thing, um, within your tribal00:20:14.000 --> 00:20:16.000
programs.00:20:16.000 --> 00:20:20.000
So, and the other thing, too, on top of that,00:20:20.000 --> 00:20:25.000
The lack of contractors and stuff like that that are there for you. Um…00:20:25.000 --> 00:20:34.000
As well, because, you know, a lot of… I know there's a lot of technical assistance providers and stuff that work actually primarily in California.00:20:34.000 --> 00:20:39.000
That actually can help out and have experience working in Alaska as well.00:20:39.000 --> 00:20:40.000
want to help bring00:20:40.000 --> 00:20:50.000
that gap and provide you guys information and stuff as well as we move forward in your developments and as we go throughout this, uh, throughout the content today.00:20:50.000 --> 00:20:54.000
Next slide.00:20:54.000 --> 00:21:05.000
And there's no, like, cost of building remote is a huge thing. We know that materials and inflation that we've all endured and we're actually still doing that right now with the current administration in DC, all that kind of stuff.00:21:05.000 --> 00:21:17.000
Gas prices are insane. That means that margin delivery by plane or by boat and everything else like that is expensive. And so all those things are added cost that we have.00:21:17.000 --> 00:21:23.000
Um, so, like, just like a single home can cost around close to a million dollars in your area.00:21:23.000 --> 00:21:28.000
Depending on the size and the type of materials that are used for that.00:21:28.000 --> 00:21:37.000
And you guys also have like over 23,000 square miles by one regional housing authority as well up there, which is a vast.00:21:37.000 --> 00:21:40.000
area to take care of and manage.00:21:40.000 --> 00:21:51.000
And also villages that a housing authority supports on a single in a single hub. Basically, you have over 17 of those in areas and it's like…00:21:51.000 --> 00:21:53.000
I get it, I seen it like when I was there.00:21:53.000 --> 00:22:06.000
There are literally planes flying everywhere because there's sometimes there's not infrastructure, roads and different things like that to specific communities there in Alaska. And understanding it and seeing it firsthand.00:22:06.000 --> 00:22:11.000
me a greater idea and concept of how to help combat and help, you know,00:22:11.000 --> 00:22:13.000
promote.00:22:13.000 --> 00:22:25.000
better price point for providing affordable housing in Alaska. It's all logistics, supply chain and those types of things as well.00:22:25.000 --> 00:22:28.000
Um, next slide, please.00:22:28.000 --> 00:22:33.000
So tribal lands and financing barriers.00:22:33.000 --> 00:22:49.000
grassland, but I know you guys are kind of, like, not like trust land you have corporations there um in Alaska as well um so there's a lot of land issues there that you guys have um um case in point like I got a I got a book when I was up there.00:22:49.000 --> 00:23:05.000
Um, an issue that had happened, like, I think it was, I think it was 1876 or something before gold rush and stuff that happened. There was probably total population of about 30,000, 31,000 or so in all of Alaska.00:23:05.000 --> 00:23:10.000
However, in 29,000 of those individuals were all Native.00:23:10.000 --> 00:23:19.000
I think this helps has happened and changed, so you have a wholly, totally different aspect on how things are moving forward within Alaska.00:23:19.000 --> 00:23:20.000
Um,00:23:20.000 --> 00:23:22.000
BIA approval.00:23:22.000 --> 00:23:27.000
We all know like some areas and regionally based, like specifically here in the Midwest in the lower 48.00:23:27.000 --> 00:23:39.000
It takes a long time to get approvals and liens and stuff like that done in our tribal communities because we know they're short staff and those types of things because, you know,00:23:39.000 --> 00:23:55.000
They had when they had the government shutdown and they had layoffs and stuff like that, a lot of people that left the BIA area and stuff as well. And also we know that there's also limited lending opportunities for conventional mortgages markets in Indian country, right? So that's why we have.00:23:55.000 --> 00:24:13.000
lot of native CFIs that are working throughout the country as well. So basically the fix is like kind of federal guarantees were built to bridge these gaps kind of and like we talk about like section 184, Title VI and different things like that and also USDA programs that are we talking about here in a little while.00:24:13.000 --> 00:24:14.000
Okay?00:24:14.000 --> 00:24:27.000
Anybody have any questions right now as we go through, like, feel free to drop a hand or drop a thing in a chat or something and Adrienne will, hey, we got a question in chat or whatever like that.00:24:27.000 --> 00:24:31.000
I just want to be so monotone or whatever, and…00:24:31.000 --> 00:24:38.000
kind of thing as we go through it. I just want to, you know, increase participation and stuff like that as we go through, so…00:24:38.000 --> 00:24:39.000
Um, .00:24:39.000 --> 00:24:41.000
Okay.00:24:41.000 --> 00:24:55.000
Alright, so regional housing authority system, like essentially we all know, like, TDHEs, our housing entities deliver most of our NAHASDA housing throughout not only Alaska, but also in the lower 48.00:24:55.000 --> 00:25:12.000
And our reach authorities serve clusters of villages and tribes and stuff all over, and some of them, specifically in Alaska, are so remote and out there that they have very short build windows on different things like that, so…00:25:12.000 --> 00:25:26.000
That makes it very difficult for building affordable housing in Alaska, primarily, because, you know, you have procurement issues, you have to do all a lot of different things, and availability of contractors, which makes that difficult. So.00:25:26.000 --> 00:25:31.000
And also we know that in Indian country,00:25:31.000 --> 00:25:34.000
There's issues with capacity, um…00:25:34.000 --> 00:25:43.000
And like we have some staffs, like we're working with some California tribes and they have 800 tribe members, but they have a housing.00:25:43.000 --> 00:25:45.000
Um, .00:25:45.000 --> 00:25:53.000
team of one person like they're doing everything, you know, and then they wear multiple hats. And that's very much probably the same.00:25:53.000 --> 00:25:56.000
our Alaska communities as well.00:25:56.000 --> 00:26:08.000
Um, and then also partnerships, tribes, we designate them to act on their behalf of if it's say like even AAHA or whatever, like we can work with AAHA.00:26:08.000 --> 00:26:18.000
And their partner with them within our tribal communities to help push forth initiatives and stuff like that to help create more affordable housing in our areas as well.00:26:18.000 --> 00:26:20.000
So, yeah.00:26:20.000 --> 00:26:24.000
Next slide, please.00:26:24.000 --> 00:26:30.000
So who's who in Alaska Native Housing, right? So like kind of a couple that we talk about.00:26:30.000 --> 00:26:36.000
Cook Inlet. So it's anchorage based developer in Coronado Park.00:26:36.000 --> 00:26:42.000
In the Guntali view. And I found this out.00:26:42.000 --> 00:26:47.000
Well, as I've been up to Alaska now twice.00:26:47.000 --> 00:26:48.000
.00:26:48.000 --> 00:27:02.000
To Lingott Haida looks like… it looks like Telinget Haida, but it's Tlingit Haida, correct? If I'm wrong or not, because when I was there, it was like, nope, this is Tlingit Haida. It's just a different variation of spelling and stuff, how it is in their tribal language.00:27:02.000 --> 00:27:18.000
Um, thank you for that, because I was like, how, how did they get Tlingit Haida out of something that starts with T-L-I-N-G-I-T, but looking at that and the books that I've got from up there to look at them and review them, like it's amazing. And just.00:27:18.000 --> 00:27:23.000
You cannot, you know, get enough of the information and the culture up there and stuff as well, so…00:27:23.000 --> 00:27:29.000
um, Bering Straits it's a known base with covers like 17 villages across their region as well.00:27:29.000 --> 00:27:32.000
And this is just like…00:27:32.000 --> 00:27:37.000
You know, just scratching the surface of them, and with the contents of time, and stuff like that.00:27:37.000 --> 00:27:41.000
We wanted to talk with talk about Cook Inlet.00:27:41.000 --> 00:27:44.000
Haida, Bering Straits.00:27:44.000 --> 00:27:59.000
We could honestly do, like, on every tribal organization in Alaska, we could probably talk about them for days, no nonstop, you know, so, um, so I was kind of looking at a couple of the specific ones that I hopefully00:27:59.000 --> 00:28:15.000
A lot of you that are on the call would recognize and understand who they are and stuff like that, so, um, that was kind of the stuff that we were talking about just in Alaska, because, I mean, I literally could have listed every tribal corporation and stuff there in Alaska, but that would have been a lot, so.00:28:15.000 --> 00:28:19.000
Anyway, next slide, please.00:28:19.000 --> 00:28:31.000
So, understanding for us as Enterprise and our community partners, um, what we do. So as a national nonprofit that finances affordable housing all over the country.00:28:31.000 --> 00:28:46.000
Um, technical assistance, hands-on support for tribal developers. Also providing a source of knowledge of the tribal leaders handbook on home ownership. We have that. We have an enhancing and implementing offering that we provide.00:28:46.000 --> 00:28:51.000
Academy builds local capacity. So…00:28:51.000 --> 00:28:54.000
But, um,00:28:54.000 --> 00:29:05.000
So, you know, that's kind of where we're at with that too. And I'm sorry, I was just like I saw Tracy drop a message in the chat. I was looking at that as I was continuing talking, but…00:29:05.000 --> 00:29:18.000
So, yeah, so that's kind of our overview of those types of things, and we do we have also have resilience academies and stuff like that. This is some of the stuff that Serbia talked about earlier when we were discussing.00:29:18.000 --> 00:29:29.000
Notice as we first kicked off everything. So, but, you know, we're just excited and happy to be part of this here with you guys too.00:29:29.000 --> 00:29:30.000
Alrighty, next slide, please.00:29:30.000 --> 00:29:32.000
No, I think I'm good. Let's just follow the slides and go through that.00:29:32.000 --> 00:29:59.000
So what is the capital stack? I'm going to kind of hand this over a little bit into definition with Tracy as well, with his expertise in a little bit of this area. If, um, he wants to go for on that, and I'll interject as we go through it.00:29:59.000 --> 00:30:00.000
No problem.00:30:00.000 --> 00:30:07.000
So capital stack is a funny definition for me. I don't know why. I'm gonna have to go on mute for one second.00:30:07.000 --> 00:30:16.000
Sorry, dog transfer. So capital stack is basically.00:30:16.000 --> 00:30:21.000
the financing package. Um…00:30:21.000 --> 00:30:28.000
As it says there, and again sources uses every dollar that match.00:30:28.000 --> 00:30:32.000
So sources have to equal uses.00:30:32.000 --> 00:30:34.000
That's just…00:30:34.000 --> 00:30:39.000
pretty basic math. And we'll get into, kind of,00:30:39.000 --> 00:30:44.000
The difficulty later, and I think that most groups on the call have00:30:44.000 --> 00:30:55.000
experience putting together a project and knowing how difficult it is to layer the financing.00:30:55.000 --> 00:30:59.000
So next slide, please.00:30:59.000 --> 00:31:07.000
This is where it gets really fun. So my fun stuff is always been math.00:31:07.000 --> 00:31:11.000
And I don't know, this is pretty small.00:31:11.000 --> 00:31:13.000
But.00:31:13.000 --> 00:31:28.000
I hope everyone can see it. This is kind of a simple pro forma development budget. This one only has one, two, three, four, five, six sources.00:31:28.000 --> 00:31:33.000
you know, at times, we may even have to…00:31:33.000 --> 00:31:35.000
Layer more of things.00:31:35.000 --> 00:31:37.000
Thank you.00:31:37.000 --> 00:31:38.000
Oh, there you go.00:31:38.000 --> 00:31:43.000
Yep, perfect. So, yeah, six sources on this one.00:31:43.000 --> 00:31:48.000
To make it square.00:31:48.000 --> 00:31:53.000
But, yeah, it's… every project is different, and…00:31:53.000 --> 00:31:59.000
And if you can scroll to the bottom of this, I don't even know. So this is a…00:31:59.000 --> 00:32:00.000
System.00:32:00.000 --> 00:32:04.000
practitional 28-unit project.00:32:04.000 --> 00:32:11.000
with 9% tax credits. So you can see at the bottom.00:32:11.000 --> 00:32:14.000
That's 767…00:32:14.000 --> 00:32:17.000
Ish per unit.00:32:17.000 --> 00:32:27.000
Which I don't even know, like, Jeff's earlier slide, if…00:32:27.000 --> 00:32:28.000
It could be.00:32:28.000 --> 00:32:29.000
That may be too slim as well. I don't know. I've not developed in…00:32:29.000 --> 00:32:31.000
Yeah, I've not developed in Alaska, but for a00:32:31.000 --> 00:32:37.000
multifamily unit that I don't know. Anyway, so this is a typical.00:32:37.000 --> 00:32:40.000
and a budget that we would.00:32:40.000 --> 00:32:43.000
Help you with.00:32:43.000 --> 00:32:45.000
And…00:32:45.000 --> 00:32:48.000
Um, yeah, so…00:32:48.000 --> 00:32:54.000
It's… it's scary stuff, seriously, and it's a moving document.00:32:54.000 --> 00:32:58.000
It's not static in any way.00:32:58.000 --> 00:33:04.000
As far as, you know, your cost change because of, you know, not00:33:04.000 --> 00:33:13.000
being able to ship things or contractor difficulties. So I think Alaska is definitely.00:33:13.000 --> 00:33:15.000
a special place.00:33:15.000 --> 00:33:17.000
As far as…00:33:17.000 --> 00:33:21.000
Just things are going to change, so…00:33:21.000 --> 00:33:27.000
I would just say, you know, from my perspective,00:33:27.000 --> 00:33:32.000
Keep the document alive and don't…00:33:32.000 --> 00:33:38.000
Yeah, don't set anything until you sign the documents.00:33:38.000 --> 00:33:44.000
Next slide, I think.00:33:44.000 --> 00:33:49.000
So, Jeff, do you want to take this back or, I mean, these are00:33:49.000 --> 00:33:54.000
Brilliant. Yeah.00:33:54.000 --> 00:33:55.000
Okay.00:33:55.000 --> 00:33:56.000
Sure, yeah, like, yeah, yeah, I mean, yeah, if you want, you can… you go ahead, you can take the next two slides if you want, and then I'll… I'll jump in as needed, if you're fine with that.00:33:56.000 --> 00:33:57.000
Yeah, so…00:33:57.000 --> 00:34:05.000
I think these are pretty basic debt we owe money to people. We have to pay that back.00:34:05.000 --> 00:34:08.000
Secured, often back…00:34:08.000 --> 00:34:17.000
by the property. You never want to personally guarantee any of the debt.00:34:17.000 --> 00:34:19.000
Um…00:34:19.000 --> 00:34:26.000
you know, that's all back to the nonprofit, or the housing authority.00:34:26.000 --> 00:34:33.000
Coverage, we'll talk about that, I think, on the next slide. So equity is the big thing.00:34:33.000 --> 00:34:38.000
If… if you recall on the prior slide, the development budget.00:34:38.000 --> 00:34:43.000
So there was 19 million in…00:34:43.000 --> 00:34:45.000
tax credits.00:34:45.000 --> 00:34:52.000
Burke.00:34:52.000 --> 00:34:53.000
total budget.00:34:53.000 --> 00:34:55.000
over the 21-ish million dollar project. So the tax credit equity is.00:34:55.000 --> 00:34:59.000
Is covering it so much of00:34:59.000 --> 00:35:09.000
these projects, and it's… it's by far the biggest resource, I think, that we have as a group.00:35:09.000 --> 00:35:13.000
help fund these projects.00:35:13.000 --> 00:35:14.000
Okay.00:35:14.000 --> 00:35:15.000
Yeah.00:35:15.000 --> 00:35:16.000
Cool.00:35:16.000 --> 00:35:35.000
Just to interject real quick to AC2 is, like, in the LIHTC development, everybody, and you guys know this, I don't know if you have… how many of you had… if you can just drop a thumbs up or whatever in the chat or something, if you have all… any of you done any LIHTC projects in the past or not?00:35:35.000 --> 00:35:36.000
Okay.00:35:36.000 --> 00:35:39.000
Um, but you know that LIHTC equity that's coming in from investors and stuff like that covers 80% of their project costs and they 20% to fill in that gap and other things else as well.00:35:39.000 --> 00:35:54.000
Um, if it's an HP or any philanthropy money or stuff like that. So yep, Alice, we can get you the slides as well.00:35:54.000 --> 00:35:55.000
Correct.00:35:55.000 --> 00:35:56.000
And thanks, Jeff. So on that point, it's, you know, it comes with income restrictions, obviously.00:35:56.000 --> 00:35:57.000
But we can talk about that.00:35:57.000 --> 00:35:59.000
At another time.00:35:59.000 --> 00:36:03.000
Next slide, I think.00:36:03.000 --> 00:36:06.000
Hey, I know nothing about this, Jeff. This is…00:36:06.000 --> 00:36:17.000
Okay, so I got, I gotcha. Um, so, and with… and everybody knows, you guys, this is your regular funding formula that you get every year, um, from the HASDA, our IHBG. Um, very same.00:36:17.000 --> 00:36:20.000
Pretty much the same thing.00:36:20.000 --> 00:36:34.000
So Native American housing and self-determination Act was enacted by Congress in 96 and fully funded into tribes in '97, where tribes started receiving a HUD formula block grant.00:36:34.000 --> 00:36:50.000
each year, and each tribe is unique in their location and everything else, too, because they have a total development cost that they have for the sole source, um, location, how much it costs to develop in every area of the country in Lower 48, and specifically,00:36:50.000 --> 00:37:00.000
or Hawaiian Islands and also in Alaska that are funded through that. And typically, a lot of our smaller tribes, there's some tribes that are very small.00:37:00.000 --> 00:37:16.000
Often the only source of money that they have for their dollars to help promote and provide affordable housing is very flexible and there's different uses for that that we could use to help support developments. Rehabs or housing services for that matter.00:37:16.000 --> 00:37:20.000
crime prevention activities, if it's.00:37:20.000 --> 00:37:36.000
final remediation, stuff like that as well help out in the community um stuff like that so um I sure that everybody that is on the call is also is a IHBG or NAHASDA recipient.00:37:36.000 --> 00:37:38.000
Um, as well, so…00:37:38.000 --> 00:37:49.000
There's our main source. And I know tribal communities working with them for the last 20 plus years, were very.00:37:49.000 --> 00:37:58.000
Conservative and making sure that we make those dollars stretch as far as possible, and leverage those resources within the other grant that we can if there's anything that matches.00:37:58.000 --> 00:38:04.000
We're leveraging resources to help create a development that we need in our communities.00:38:04.000 --> 00:38:08.000
Next slide.00:38:08.000 --> 00:38:19.000
So, again, NAHASDA in practice, and you guys probably may all know, you may… a lot of you may know this, but since I know there's some people that are on the call here, they've only been working in their tribal communities for a year or so, or whatever.00:38:19.000 --> 00:38:36.000
Um, but eligible uses for is new construction, acquisition, rehab, and infrastructure. Case in point for infrastructure, you can use you can leverage your allocation that you get for your NAHASDA and use that as a Title VI loan.00:38:36.000 --> 00:38:51.000
And you can do things with that as far as buying… you can buy land, you can use it to help create infrastructure, um, and to develop the land down the road, and also build houses now, instead of having to wait through00:38:51.000 --> 00:39:06.000
Um, regular financing sources through CDFIs or conventional banks and stuff like that. Um, that's a huge thing that helps out, um, leveraging and the possibility of working with NAHASDA and its benefits and uses. Um…00:39:06.000 --> 00:39:13.000
Then also the tribe also has local control in that to set priorities throughout their housing plan. If you get00:39:13.000 --> 00:39:28.000
A lot of tribes, like if they have 184 loans and mortgages and stuff like that, they are able to, like, if someone were to foreclose on that, and y'all may know this or not, if you don't, like, if someone were to foreclose on that, the tribe also has the right of first refusal.00:39:28.000 --> 00:39:42.000
Um, to assume that mortgage and actually continue to take that so that the tribe will continue to maintain that asset and use it for another tribal family or whatever down the road.00:39:42.000 --> 00:39:57.000
And the other thing too, there's a huge thing that we went through at the NIAC conference in May. And you all know if you're paying attention to different things like that, NAHASDA has not been reauthorized since 2013 and there's stuff.00:39:57.000 --> 00:40:06.000
That's going on, you know, trying to help increase funding for tribes, because right now, currently, there's not enough funding out there that each of our tribes receive.00:40:06.000 --> 00:40:20.000
for to do planning developments and stuff like that for infrastructure and that kind of thing because right now is all the money that is available right now through NAHASDA is essentially money that's enough to just maintaining.00:40:20.000 --> 00:40:23.000
um, upkeep the current housing stock.00:40:23.000 --> 00:40:41.000
There's not additional money in there to bring on additional staff to help future developments and those types of things and planning and those types of things. So, there's a huge need for that. So wherever you can reach out to your state representatives and stuff like that.00:40:41.000 --> 00:40:46.000
Um, in Congress and stuff like that, that's, you know, beneficial to help push that forward as well, so.00:40:46.000 --> 00:40:53.000
Next slide.00:40:53.000 --> 00:40:54.000
Old school.00:40:54.000 --> 00:40:57.000
LIHTC, Tracy, you want to talk about LIHTC a little bit? Or, I mean, I can too as well.00:40:57.000 --> 00:41:00.000
I don't think we have enough time to talk about, like,00:41:00.000 --> 00:41:03.000
tech in depth.00:41:03.000 --> 00:41:04.000
Um…00:41:04.000 --> 00:41:06.000
Correct. Right. I agree. We don't.00:41:06.000 --> 00:41:07.000
What? No.00:41:07.000 --> 00:41:08.000
So, but this slide, so…00:41:08.000 --> 00:41:12.000
I'm… I'm certain that most folks on the call00:41:12.000 --> 00:41:23.000
know about the LIHTC program. So again, 9% versus 4%. So 9% is generally competitive. I don't know.00:41:23.000 --> 00:41:26.000
how things roll in Alaska.00:41:26.000 --> 00:41:33.000
9% are competitive, 4%.00:41:33.000 --> 00:41:43.000
Generally not, but they're getting more competitive because 9% just they run out of money at the state level.00:41:43.000 --> 00:41:48.000
So, yeah, if anyone has questions about00:41:48.000 --> 00:41:51.000
of this, I'm happy to…00:41:51.000 --> 00:41:54.000
Um, offline…00:41:54.000 --> 00:42:07.000
answer questions, but yeah, the… the 9% is super difficult. It's generally one time per year.00:42:07.000 --> 00:42:08.000
Right.00:42:08.000 --> 00:42:09.000
And that allocation…00:42:09.000 --> 00:42:10.000
Thank you, Donald. We appreciate the partnership with MHP.00:42:10.000 --> 00:42:24.000
Um, yeah, it's… so it's difficult nine versus four. And I'll have to research Alaska more and I apologize that I don't know more about that.00:42:24.000 --> 00:42:26.000
But…00:42:26.000 --> 00:42:42.000
Well, and I think any other, I'll interject a little bit, too, on that, Tracy, too, is that I think AHAN, and I think if Charlene and Cynthia want to interject on this, too, is like, I think they… they receive… you guys do receive an allocation for LIHTC stuff, or actually can help.00:42:42.000 --> 00:42:50.000
Process that for your tribal corporations in Alaska, because I know it's a little different there however.00:42:50.000 --> 00:43:00.000
You know, because federal government kind of puts that out there for everybody to have in certain every state has an allocation of credits that they do receive.00:43:00.000 --> 00:43:15.000
Some states do have tribal set-asides like Arizona, New Mexico, and those types of things, but not every state does. Like, I know Wisconsin doesn't and that kind of thing too.00:43:15.000 --> 00:43:16.000
Okay.00:43:16.000 --> 00:43:43.000
Alaska does have some LAHTC programs running. I'm not sure which tribes or TDHCs are currently running those, but I do know that we have some.00:43:43.000 --> 00:43:44.000
Yeah,00:43:44.000 --> 00:43:45.000
And I'm going to add that the state gets to decide, you know, whether they set aside funds for tribal, whether they, you know, how they prioritize their 9%. Those are competitive, but not impossible to get, and also the tax credit program in general is hard to make it work for smaller properties and rural.00:43:45.000 --> 00:43:47.000
And even harder in, uh…00:43:47.000 --> 00:44:08.000
But it's like the one program there is that's still consistently funded for affordable housing. So we work with it and try to make it work by stacking the capital, which Jeff talked about earlier, and layering with flexible funds, home funds,00:44:08.000 --> 00:44:09.000
Hmm.00:44:09.000 --> 00:44:11.000
State funds, grant dollars, other things.00:44:11.000 --> 00:44:12.000
Right. Thank you, Surabhi.00:44:12.000 --> 00:44:15.000
So if anyone is really00:44:15.000 --> 00:44:17.000
will be.00:44:17.000 --> 00:44:23.000
You should look at the Alaska, I don't know what it's called, the housing crisis.00:44:23.000 --> 00:44:30.000
or something. Look at the qualified allocation plan.00:44:30.000 --> 00:44:31.000
Yep, QAP outlines a lot of that.00:44:31.000 --> 00:44:40.000
for the tax credit. It'll make you go to sleep. It's so boring, but it lays out every…00:44:40.000 --> 00:44:42.000
Yeah, yeah, yeah, every state's got a QAP. Nope.00:44:42.000 --> 00:44:43.000
Every state has, yeah.00:44:43.000 --> 00:44:45.000
Just Alaska, by the way, that is any state's QAP, just to clarify, we're not picking on Alaska, it's just the QAP document.00:44:45.000 --> 00:44:46.000
They're all the same, right?00:44:46.000 --> 00:44:47.000
Yeah.00:44:47.000 --> 00:44:52.000
Right. They're very long. I don't even know 100 plus pages, but…00:44:52.000 --> 00:44:58.000
Take a look at the QAP Qualified Allocation plan.00:44:58.000 --> 00:45:10.000
for Alaska, and that lays out, kind of, how to apply, what qualifies all the… it's a super deep document, but it's.00:45:10.000 --> 00:45:29.000
helpful to understand if you want to approach doing a tax credit deal.00:45:29.000 --> 00:45:30.000
Right. Okay.00:45:30.000 --> 00:45:36.000
Right, and there's a lot of things that… a lot of other factors that come into that, too, is, um, they have the point scoring and stuff like that. Walkability scores, how close you are to grocery stores, um, schools, um, medical facilities, all that kind of stuff, that actually interprets how much… how many points you can score on an allocation for that.00:45:36.000 --> 00:45:38.000
Um, so, but yeah.00:45:38.000 --> 00:45:42.000
100% right there. There's a lot of, um…00:45:42.000 --> 00:45:49.000
in-depth information on that. Case in point, like, I know of two, um…00:45:49.000 --> 00:45:59.000
companies basically RT Hawk and Travoya are like two primarily ones that work in Indian country a lot.00:45:59.000 --> 00:46:01.000
I'm not sure how many…00:46:01.000 --> 00:46:06.000
tax credit deals that they've worked on and specifically in Alaska.00:46:06.000 --> 00:46:15.000
But yeah, there's a huge need out there for that and understanding that whole process because case in point, just real quick, and then we can go to the next slide.00:46:15.000 --> 00:46:22.000
The QAP in the section on.00:46:22.000 --> 00:46:36.000
The housing tax credit code is actually twice as thick as the regular IRS code that we have. So that's how thick it is. There's a lot of there's a ton of information in there for that.00:46:36.000 --> 00:46:37.000
.00:46:37.000 --> 00:46:38.000
Yeah.00:46:38.000 --> 00:46:43.000
So, and that goes back to my point about consultants. Just be cautious.00:46:43.000 --> 00:46:45.000
about…00:46:45.000 --> 00:46:52.000
selecting one.00:46:52.000 --> 00:46:53.000
Awesome.00:46:53.000 --> 00:47:01.000
All right. Okay, so, and the equity in the LIHTC, how it works.00:47:01.000 --> 00:47:08.000
So usually if you get… if you get… typically, if you get awarded an allocation of credits, it's based on how00:47:08.000 --> 00:47:10.000
much.00:47:10.000 --> 00:47:13.000
Uh, on the last couple LIHTC deals that I've done,00:47:13.000 --> 00:47:16.000
Um, so an investor will.00:47:16.000 --> 00:47:33.000
give an award of credit for like 85 cents on the dollar in equity towards the development of your project say you got a $10 million project and they're going to give you you know you're going to get 80% of that value for that project when you're going to fill in the gap.00:47:33.000 --> 00:47:38.000
This has an Enterprise's, you know, investors pay since on a dollar of credit.00:47:38.000 --> 00:47:43.000
And also, and, like, thank you, Surabhi, for adding another.00:47:43.000 --> 00:47:58.000
Enterprise's does the same thing as well. And we are working with our team and our tribal team in rural. If there's a deal that's out there, please shop it and let us know because we can find out our contacts, make sure that if they're able to do it, we can.00:47:58.000 --> 00:48:03.000
If that deal works for them, for you and your community, stuff like that as well.00:48:03.000 --> 00:48:15.000
And then also we know that the cache N reduces, equity reduces the debt the project must carry, right? A lot of times it's harder for LIHTC deals to be done in tribal communities because00:48:15.000 --> 00:48:28.000
Simply, like, the Housing Authority or TDHE is not able to carry and service the debt that is attached to that project. So where you see a lot of things as Weisner is so competitive, that tribal communities00:48:28.000 --> 00:48:30.000
Um… .00:48:30.000 --> 00:48:38.000
Barely get a lot of LIHTC deals. However, when you have a for-profit developer putting in00:48:38.000 --> 00:48:47.000
and LIHTC deals, they have often the means to finance and carry that debt to make sure the project is feasible.00:48:47.000 --> 00:48:54.000
And you're right, chasing the land is generally leased as well. But if I'm missing anything else in there, Tracy, that you can think of?00:48:54.000 --> 00:48:58.000
Um, yeah, big thing is, whenever00:48:58.000 --> 00:49:05.000
Whatever you're thinking as groups about doing any project, whatever it is.00:49:05.000 --> 00:49:08.000
You should involve…00:49:08.000 --> 00:49:09.000
the00:49:09.000 --> 00:49:14.000
potential investor, lender.00:49:14.000 --> 00:49:17.000
The manager, anything.00:49:17.000 --> 00:49:20.000
As soon as you possibly can.00:49:20.000 --> 00:49:21.000
Don't… don't…00:49:21.000 --> 00:49:27.000
start the process after the project is cooked.00:49:27.000 --> 00:49:34.000
Just, yeah, involve all your partners as soon as you can.00:49:34.000 --> 00:49:39.000
And typically that's as soon as you find out that you're awarded an allocation of credits, as well.00:49:39.000 --> 00:49:41.000
No, before that.00:49:41.000 --> 00:49:45.000
Well, right, yep, I'm saying, like, because sometimes then they want to shop it and get it out there. Yep, you're right, too.00:49:45.000 --> 00:49:47.000
Mm-hmm.00:49:47.000 --> 00:49:50.000
Yeah, okay, that's all I have to say.00:49:50.000 --> 00:49:52.000
Okay. Thank you, Tracy.00:49:52.000 --> 00:49:53.000
Um…00:49:53.000 --> 00:50:07.000
So have anybody on the call, if you want to drop a thumbs up in the chat or anything like that, how many of you have used or are familiar with the section, HUD section 184 Loan Guarantee program?00:50:07.000 --> 00:50:11.000
Some or no, just trying to just kind of garner a little bit of, uh,00:50:11.000 --> 00:50:15.000
Patient and engagement here for everybody.00:50:15.000 --> 00:50:19.000
If they can still hear us and that kind of thing.00:50:19.000 --> 00:50:27.000
There you go. Thank you, Alice. Appreciate it.00:50:27.000 --> 00:50:32.000
Jacob, thank you so much, appreciate it. Okay, so.00:50:32.000 --> 00:50:33.000
Um, .00:50:33.000 --> 00:50:35.000
Primarily, like, it's…00:50:35.000 --> 00:50:40.000
It's a very good program, you know, because it's a guaranteed loan.00:50:40.000 --> 00:50:48.000
Um, for a tribal member or a TDHE they want to do a 184 loan to do.00:50:48.000 --> 00:51:05.000
like a quadplex or something like that. Um, they could do those and provide housing now for that. And then homeownership basically as you know kind of primarily widely used, I believe in Alaska from what I was looking at and researching.00:51:05.000 --> 00:51:08.000
Throughout the onset of this as well.00:51:08.000 --> 00:51:25.000
And then, like, it can also partner as well with other regional and rural loan programs as well. So like you get a 184 loan and then if your TDHE or Housing Authority can provide like a down payment assistance like that.00:51:25.000 --> 00:51:26.000
Um, .00:51:26.000 --> 00:51:29.000
A lot of tribes put them in their IHPs. They will do00:51:29.000 --> 00:51:48.000
payment assistance for up to $10,000 for five families a year that helps with that as well to help them get over the hump to provide their debt to income ratio and what they're putting into a deal for a 184 loan.00:51:48.000 --> 00:51:52.000
All right, uh, next slide.00:51:52.000 --> 00:52:02.000
Title VI, loan guarantee, that's where… and I'm sure you guys are all probably… a lot of you are all probably familiar with this, but if not, um, for those of you that may be new or not.00:52:02.000 --> 00:52:03.000
Um,00:52:03.000 --> 00:52:05.000
on the call.00:52:05.000 --> 00:52:18.000
Essentially, you can leverage up to five times of your allocation for your needs portion of your IHBG allocation to grab money.00:52:18.000 --> 00:52:22.000
now to build and accelerate housing.00:52:22.000 --> 00:52:38.000
Right now, instead of having to wait a long time to try to get other grants and stuff like that. It's guaranteed HUD grant guarantees and secures a favorable terms on that. And then once you receive on rental income for those properties.00:52:38.000 --> 00:52:48.000
Like that, you can do that and pay back the loan over a period of time. Or you can actually pay it back as part of putting like $60,000 or $70,000 in your IHP to pay00:52:48.000 --> 00:53:04.000
back that on loan for forgive for the loan on top of that because you're paying out five times say if you get your niece portion is 100,000 you get $100,000 you get $500,000 upfront right now um they can help you through that process.00:53:04.000 --> 00:53:12.000
Um, to get additional funding to put forward and to a development. If you wanted to buy land, if you wanted to.00:53:12.000 --> 00:53:13.000
Um,00:53:13.000 --> 00:53:27.000
work on infrastructure, water and sewer, utility, and all those types of stuff, infrastructure, Wi-Fi, those types of things, too. So, it's a very good program. Has anybody on the call, have any of you guys used Title VI before in the past?00:53:27.000 --> 00:53:38.000
are known about their, you know, the unique intricacies inside… involved with it.00:53:38.000 --> 00:53:48.000
I wanted to put the… I wanted to put the jep… I wanted to cue the Jeopardy music in here, too, so I can have like a question that would pop up. Okay, Elio Conces, okay, thank you.00:53:48.000 --> 00:53:58.000
That's good. But it's also a very good, it's a very good way to utilize funding if you're if you're in a small if you're in a small.00:53:58.000 --> 00:54:07.000
Um, tribal area, community, and you wanted to do two houses. That's a good, great way to do that. And you can plan it out, set it up.00:54:07.000 --> 00:54:22.000
You know, work with your regional ONAP office. Tell them, hey, we want to leverage our IHBG grant and do a Title VI loan and we want to do a quadplex, we want to do one house, you wanted to buy land or if you want to do anything like that, those things.00:54:22.000 --> 00:54:31.000
available to you. And not a lot of people know about that and they haven't used them. It's a good tool to use, especially.00:54:31.000 --> 00:54:39.000
In this time right now with, you know, as far as how the market rates are and stuff like that for mortgages and stuff like that. So.00:54:39.000 --> 00:54:44.000
Okay, next slide.00:54:44.000 --> 00:54:50.000
CDBG and ICDBG, um, community block grants, very competitive.00:54:50.000 --> 00:54:52.000
As well as, you know, funds00:54:52.000 --> 00:55:01.000
For the community, overall community development, similar to that of Title VI. However, you can do on a full-on development with housing infrastructure and.00:55:01.000 --> 00:55:06.000
You know, site improvements and stuff as well funds water, sewer, site work.00:55:06.000 --> 00:55:23.000
Um, it pairs well with the NAHASDA and LIHTC because that's, that's part of a capital stacking, right? So I'm going to put in some money, I want to put in, have some LIHTC equity coming into it and also, you know, if I get a grant for 5 million for00:55:23.000 --> 00:55:29.000
I can put all those together and build one beautiful project if it's townhouses like 20 or00:55:29.000 --> 00:55:42.000
The townhouses, multifamily development, senior housing, and those types of things like that. And I think there's a lot of different uses that each tribe is specifically in need of.00:55:42.000 --> 00:55:54.000
whatever you need is you got to tailor it that's best fit for your demographics and stuff like that based on your community projections, like, you know, talk with your enrollment department.00:55:54.000 --> 00:55:59.000
Final, you know, get the demographics for your community. We have a00:55:59.000 --> 00:56:07.000
of elders, we have a younger population, you know, those types of things, so that helps out in the planning process that as you move forward too.00:56:07.000 --> 00:56:11.000
Next slide.00:56:11.000 --> 00:56:14.000
USDA Rural Development. I'm going to.00:56:14.000 --> 00:56:24.000
Introduce Serbia on this one because this is her background, this is her baby because she's got experience in USDA and those programs.00:56:24.000 --> 00:56:35.000
Well, sure. Thanks, Jeff. I just wanted to add with our USDA Rural Development programs, since Jeff asked how many of you are familiar with these programs?00:56:35.000 --> 00:56:54.000
While they're not, some of them are specifically for Alaskan tribes, but many of them are just for rural and tribal communities and are accessible to all tribal communities. So I was just wondering if anyone's used any of the USDA programs.00:56:54.000 --> 00:56:59.000
Thumbs up, or yeah, smash that like button. Thumbs up00:56:59.000 --> 00:57:00.000
Bless, yeah.00:57:00.000 --> 00:57:01.000
looking for those thumbs-ups and hearts again. Or thumbs downs, which is also fine.00:57:01.000 --> 00:57:02.000
Right.00:57:02.000 --> 00:57:06.000
That's all good because the more information we can find out.00:57:06.000 --> 00:57:10.000
Oh, there he goes, there's a thumbs down. There we go.00:57:10.000 --> 00:57:11.000
Yes, it is. It's very good.00:57:11.000 --> 00:57:18.000
Okay, so no response here. Oh yeah, thumbs down. Okay, so then this is important for me to talk about. So there's a range of programs that USDA Rural Development and there's a Rural Development Office in Alaska.00:57:18.000 --> 00:57:32.000
that folk can reach out to the World Development Mission generally serves rural communities and there's also an Office of Tribal Relations. So if you don't get a good response from the Rural Development State Office.00:57:32.000 --> 00:57:52.000
Uh, because they may not sort of understand some of your challenges, you can reach out to the Office of Tribal Relations at National USDA that will then serve as your liaison to all of Rural Development's programs. Rural Development has a slew of housing programs,00:57:52.000 --> 00:58:06.000
There's actually three agencies, so I know some of you do economic development. We also have, um, I say we because I used to work there. Rural development also has a rural business service and a slew of business lending and grant programs.00:58:06.000 --> 00:58:20.000
There's also rural utility service that does water, broadband and electric programs, and then the Rural Housing Service, which does housing programs, a range of them. So on the housing side.00:58:20.000 --> 00:58:26.000
Um, does the Section 502 direct and guaranteed? Those are the home ownership programs.00:58:26.000 --> 00:58:40.000
What is interesting about these programs is that there are zero down payment programs that fully provide the mortgage. There's construction to permanent on the guaranteed side.00:58:40.000 --> 00:58:56.000
They serve low and very low-income families. Some of the conditions there, you have to be unable to get a home at reasonable terms outside on the market rate, and then the rural development programs are accessible.00:58:56.000 --> 00:59:14.000
The direct program can also provide a subsidy to bring the payment down and help the borrower with repayment. And then there is more recently, a Native American CDFI re-lending program that allows00:59:14.000 --> 00:59:24.000
Qualified Native CDFIs to re-lend the Section 502 dollars for homeownership.00:59:24.000 --> 00:59:39.000
Because the, I would say the agency was not doing as well as they could. The working with Native CDFIs that understand conditions better and have deeper relationships has really helped move the programs more effectively to meet00:59:39.000 --> 00:59:54.000
ownership needs in Indian country. There's also a self-help and mutual housing program which allows families to come together and build each other's homes by providing some00:59:54.000 --> 01:00:11.000
lead equity, the electric and plumbing and so on is done by contractors, but families do build together, and it helps reduce the cost of the home through the contribution of sweat equity. Um, I did look up in Alaska and rural01:00:11.000 --> 01:00:22.000
The Community Action Program is a qualified self-help Housing provider and has been working to develop self-help homes in Soldotna.01:00:22.000 --> 01:00:33.000
Um, the water and wastewater grants, well, the multifamily grants which work then with LIHTC. The Section 515, which is a direct loan program.01:00:33.000 --> 01:00:40.000
Because of the portfolio of homes that Rural Development has that are expiring.01:00:40.000 --> 01:00:55.000
Um, because they were constructed with public-private partnerships some 30, 50 years ago. Most of the direct loan program goes towards preserving the existing portfolio of housing, but there is a guaranteed rural rental housing program that01:00:55.000 --> 01:01:13.000
Lenders make the loans and USDA guarantees them up to 90%, so it's a really good guaranteed program. That's the Section 538, and enter organization, Bellwether Enterprise is actually a 538 lender, so if you01:01:13.000 --> 01:01:19.000
to go in that direction, we can provide the mortgage lending directly for that.01:01:19.000 --> 01:01:30.000
I added some of the water and wastewater programs because I'm familiar with the real challenges in Alaska around water and wastewater issues.01:01:30.000 --> 01:01:39.000
There are programs that are run directly by Rural Development. That's the Water Waste Facility Loans and grants.01:01:39.000 --> 01:01:55.000
to alleviate health risks on tribal lands and those are available to all Indian country. They have to be federally recognized tribes, unfortunately state and local governments and also nonprofits are eligible.01:01:55.000 --> 01:02:11.000
The population has to be 10,000 and under, so it's available to really rural communities and at least 50% of who's served have to be tribal members, so it's really trying to direct it to serve the needs of01:02:11.000 --> 01:02:22.000
tribal communities. Uh, funds can build basic drinking water and waste disposal systems, as well as systems to handle stormwater drainage.01:02:22.000 --> 01:02:24.000
And, um…01:02:24.000 --> 01:02:37.000
There's also some programs that are directly for drinking water. There's grants and usually the grants only cover 75% of costs.01:02:37.000 --> 01:02:55.000
USDA usually requires 25% match, but they have a partnership with the state of Alaska and also EPA, so it's through the states capital improvement program, and between the contribution they make and USDA makes, it's possible to01:02:55.000 --> 01:03:15.000
cover 100% of the cost. I know we're about halfway through our presentation, and I don't want to take up too much time, but if folk are interested in rural development programs, including there's a distance learning and telemedicine program and so on, we're happy to follow up and provide01:03:15.000 --> 01:03:33.000
Both information and technical assistance around those. I know we may have to speed up through some of our slides because we're so excited about providing a lot of information to you guys.01:03:33.000 --> 01:03:50.000
Thank you, Serbi. I appreciate that. Like Surabhi was saying that there's so much content that we can provide and deliver for you guys that, you know, we just want to make sure that we can cover as much as we possibly can. And we want to be cognizant of your guys' time and stuff like that as well.01:03:50.000 --> 01:04:06.000
Um, so our next slide here, we're going into, uh, FHLB, Affordable Housing Program, which is another option that financing tool that a lot of people can use. And if you can, just real quick, just drop a thumbs up, thumbs down if you've ever used them or not, or anything like that, um, as I believe, I think…01:04:06.000 --> 01:04:17.000
Um, your Federal Home Loan Bank branch is gonna be San Francisco branch, I believe, out of California, which helps provide funding. An example here.01:04:17.000 --> 01:04:35.000
like a $650,000 AHP grant supported Coronado Park 2 development there. And some of them, some people, like, in, I think FHLB Bank in Des Moines right now has increased their HP award to like $3 million, which is really cool.01:04:35.000 --> 01:04:46.000
FHLB Chicago also has theirs that is about one and a half million, which is good because I've utilized both of those in programs and developing LIHTC deals in the past.01:04:46.000 --> 01:05:00.000
So that's a very good option to use and look into that. If you have any questions or anything like that, please reach out to us and we can help you and guide you into the process of what you want to do that for that. And Enterprise as well.01:05:00.000 --> 01:05:16.000
Um, so we just dropped that in the chat for everybody to look at. So, um, as well, we look at state and philanthropic sources. Alaska Housing Finance Corporation grants programs, uh, I don't know how many of you guys are utilizing01:05:16.000 --> 01:05:30.000
resource as well, but that's an option for you as well. And then the real professional housing invested over 112 million in the last 20 years for providing funding for affordable housing.01:05:30.000 --> 01:05:45.000
And also there's a lot of foundations all over the country that sees development and gap needs and stuff like that. What is specific to your region, your area and stuff like that. I just urge you to reach out to look into those different resources that are available.01:05:45.000 --> 01:05:59.000
out there to you. Just look out there for philanthropy and housing funding for affordable housing and stuff like that. There's a myriad of them out there um stuff like that that can help out with any of your development needs that are possibly out there.01:05:59.000 --> 01:06:04.000
And also, you know, Alaska Native corporations can be capital partners as well.01:06:04.000 --> 01:06:12.000
Um, and, you know, for the last, you know, like, should be dropping in there, Alaska rural development as well, um, in the chat.01:06:12.000 --> 01:06:16.000
Next slide, please.01:06:16.000 --> 01:06:22.000
Okay, so part two, we'll get into our leveraging and our braiding our resources together.01:06:22.000 --> 01:06:31.000
braiding and layering, so what do we do what we talk about when we're doing braiding and layering? Basically, you're just coordinating multiple sources of funding over one project together.01:06:31.000 --> 01:06:47.000
And they have separate strands. It keeps its own rules and reporting regulations so you have to kind of keep them separate right and you pay out certain aspects of it so you're going to have you made have say if you had USDA funding for infrastructure, water and sewer, you're doing that.01:06:47.000 --> 01:07:04.000
keeping that reporting and that stuff separate. And then com, you know, that's kind of a pretty much a norm a lot for Alaska deals and then layering your stacking those sources applied to sequence or by the use of soft costs, hard cost,01:07:04.000 --> 01:07:09.000
Um, and those types of things, legal fees and stuff like that prior to construction and those types of things.01:07:09.000 --> 01:07:22.000
layer those in different areas throughout your project and your development. And then the other thing too is you want to make sure that you avoid duplicate funding of the same cost as you go throughout that as you kind of watch and monitor that as well. So.01:07:22.000 --> 01:07:26.000
Next slide.01:07:26.000 --> 01:07:38.000
Principles of leveraging. Essentially, you want to match your terms and align repayment and timing across all your sources. Like if I'm going to have someone I have an AHP award that we got that perfect.01:07:38.000 --> 01:07:53.000
No repayment on that you're just requirements and obligations for reporting on that. Or if I did, if I did a Title VI, then I'm going to have repayment options on that. It's going to come out of our Indian Housing Block Grant or RHP that we have in our plan every year.01:07:53.000 --> 01:08:09.000
So that way we make sure that they're all sequenced and lined up, so that way none of them expires and they're waiting for anything to complete or whatever. So you're not going to be in default or anything like that as you move forward throughout your development.01:08:09.000 --> 01:08:10.000
Um, and also01:08:10.000 --> 01:08:26.000
So we all know that within the federal government or state governments and stuff like that as well, we have to make sure that we're cognizant in requirement for all rules and stuff like that throughout the compliance process. A lot of tribes might have a comptroller.01:08:26.000 --> 01:08:35.000
That makes sure that, you know, hey, make sure we have this reported, we have this done and all those things that are in alignment for that as we go through the whole process.01:08:35.000 --> 01:08:50.000
Make sure that everything that we want to do throughout the whole process from the beginning, from concept, from vision to concept, community planning and meetings and stuff like that, document everything that we have so you have a good trail of everything as we move throughout our whole development.01:08:50.000 --> 01:08:53.000
All right, next slide.01:08:53.000 --> 01:09:09.000
And then also in the sequencing of your funding, I was kind of alluding to this a little bit in the last slide a little bit, like pre-development costs, you know, soft costs for early studies, um, you make sure you have your environmentals done, you have… involve your, um, tribal.01:09:09.000 --> 01:09:14.000
Tippo. You guys all have travel historic preservation officers on staff I do.01:09:14.000 --> 01:09:24.000
You could just drop a thumbs up, yes, and that kind of thing. Some tribes do have them, some tribes don't have them. But as stewards of.01:09:24.000 --> 01:09:41.000
Protecting Mother Earth as myself as a tribal member with my tribal community here in Wisconsin. That's the first and foremost important thing. I know that holds true for all of our tribes all across the country that we make sure that we try to be, um,01:09:41.000 --> 01:09:46.000
disdain her for future generations. And then I'll01:09:46.000 --> 01:09:58.000
So you have permanent and long-term debt that you have, sometimes you have to take it, you get a grant out or get a loan, conventional loan to help pull in different costs.01:09:58.000 --> 01:10:17.000
close that funding gap that we need to make our… push our project over to over the finish line. And you guys know this better than I do, and this is one thing I was finding out as I was researching and looking at this, there are barge schedules that dictate, you know, when, you know, cash must be ready, because if you don't have it paid and set up, then your stuff's not getting delivered.01:10:17.000 --> 01:10:23.000
a barge or wherever it is that you may be in Alaska at that time.01:10:23.000 --> 01:10:29.000
Uh, next slide.01:10:29.000 --> 01:10:42.000
So, for example, in the stacking in action, as we talk about Coronado part two, real Eagle River deal that braided several resources. What they did there, they did affordable.01:10:42.000 --> 01:10:53.000
housing developments, 31 of them, in their phase two development they had a AHP application and a grant that helped in their capital stack of 650,000.01:10:53.000 --> 01:11:04.000
the other like 80% of it, basically roughly was LIHTC, 9% deal that kind of anchored that equity for that project. So you can see kind of how they.01:11:04.000 --> 01:11:08.000
kind of working.01:11:08.000 --> 01:11:22.000
Um, with layering these types of stacking options here for an AHP application that coincides with LIHTC development to help bring your development over the finish line.01:11:22.000 --> 01:11:25.000
Next slide, please.01:11:25.000 --> 01:11:29.000
Managing multiple funders, this is a huge thing.01:11:29.000 --> 01:11:34.000
that I know that from my experience in working in housing.01:11:34.000 --> 01:11:37.000
in tribal housing for a number of years I have.01:11:37.000 --> 01:11:52.000
We're oftentimes managing multiple funders, right? There are tribal organizations out there that do grants and provide capital for tribes and specific developments, but then you also have reporting out for that.01:11:52.000 --> 01:11:53.000
Um, and every01:11:53.000 --> 01:12:08.000
Everybody has a different reporting calendar and a different period when those are going to be done. Make sure you have a good project manager on top of every reporting requirement for those and also you're basically a comptroller.01:12:08.000 --> 01:12:12.000
Um, for your finances and stuff as well.01:12:12.000 --> 01:12:14.000
And then also,01:12:14.000 --> 01:12:25.000
Never be afraid to reach out to a funder or just talk about something. Keep those lines of communications open with them. Be open and transparent with them all the time, as much as possible.01:12:25.000 --> 01:12:40.000
Because you just… what you're doing is building, even though we're building housing and affordable housing in our tribal communities, we also want to build those relationships with those funders that are helping us get these projects across, right? That's huge. I think relationships and developing those goes way.01:12:40.000 --> 01:12:52.000
way farther than, you know, just not having a relationship with them at all because when you can show them that you're doing stuff and doing it right and being open and communicate communicative with that.01:12:52.000 --> 01:13:00.000
That just kind of opens the door up with you for doing future developments because they're like, yep, our experience with this tribe, they, they're.01:13:00.000 --> 01:13:11.000
Right on top of it, and that kind of thing. So relationships are very important. And then building your network as well. The more people that you can grow in contact with, like with all of us on a call here.01:13:11.000 --> 01:13:16.000
With my experience with Tracy's experience, with Surabhi's experience.01:13:16.000 --> 01:13:32.000
Adrienne, all the people that we know on our Enterprise team, you guys can use us as a resource to reach out to us and say, hey, do you have anybody that can do A, B, or C for whatever specific development that you're working on? And we'll try to figure something out and help you out with that.01:13:32.000 --> 01:13:37.000
All right, next slide.01:13:37.000 --> 01:13:51.000
All right, and common leveraging pitfalls sometimes, and we know this, like, sometimes there's mismatch terms, a short note, uh, charting out long-term viability. Basically, making sure that,01:13:51.000 --> 01:13:58.000
Um, the note that we have to cover gaps in timing, like, we have the funding available to pay those.01:13:58.000 --> 01:14:06.000
And sometimes the commitment does close or lapse before others close on top of those things as well.01:14:06.000 --> 01:14:16.000
And there's also like hidden gaps, being optimistic on budgets that mask a real shortfall that could be a possible issue that we don't see coming.01:14:16.000 --> 01:14:24.000
And so, like, basically kind of like a compliance conflict of two sources with incompatible requirements, right? So we have.01:14:24.000 --> 01:14:37.000
one grant, or that we have is going to be the notes comes due in year one of it, but it doesn't happen until.01:14:37.000 --> 01:14:52.000
Like the construction is closed out and signed off on, so, like, there could be some issues on there, so you make sure that those things are compatible with each other, that they work out for your funding stack, so you can make sure that you have people paid off and everything's taken care of as you move forward with your development.01:14:52.000 --> 01:14:54.000
Um…01:14:54.000 --> 01:14:58.000
Is there anything else that you want to interject on that, Tracy, that you can think of that you've seen?01:14:58.000 --> 01:15:03.000
So again, I think it's just…01:15:03.000 --> 01:15:08.000
Being aware of gaps and…01:15:08.000 --> 01:15:09.000
how to…01:15:09.000 --> 01:15:12.000
talk to partners, and…01:15:12.000 --> 01:15:17.000
Commute…01:15:17.000 --> 01:15:18.000
Yep.01:15:18.000 --> 01:15:19.000
communicating with them early and often.01:15:19.000 --> 01:15:21.000
Right.01:15:21.000 --> 01:15:26.000
Yeah, and I agree, and I think… and it has been, like I said, like, just building that relationship,01:15:26.000 --> 01:15:40.000
Talking with them, making sure that, hey, this is, you know, this is an issue that we have. You're opening up front with them, they're more likely willing to help you out because they want to make sure that they're helping you out as well, and providing a service that you're looking for as well. So, um.01:15:40.000 --> 01:15:52.000
You think is like, oh man, there's no way in heck that these guys are going to help us out on this, but you never know until you find out and, you know, just openly communicate the issues that you're having and dealing with at that time.01:15:52.000 --> 01:15:56.000
All right, next slide.01:15:56.000 --> 01:15:59.000
All right, um, part four, development and budgeting.01:15:59.000 --> 01:16:04.000
Does anybody have any questions as we go through this at all, or everybody good?01:16:04.000 --> 01:16:06.000
Okay?01:16:06.000 --> 01:16:11.000
So, anatomy of a development budget, how many people want… can they smash?01:16:11.000 --> 01:16:16.000
up or thumbs down if they've done these or not in the past. If they haven't, totally cool.01:16:16.000 --> 01:16:29.000
Not a problem. Every one of them is different. Like, it kind of like Tracy alluded to before. Every grant and loan and equity dollar coming in is all of our sources and our revenue is coming in to help support the project.01:16:29.000 --> 01:16:38.000
And then use is basically every cost the project has to pay, and what we're, you know, all of soft costs, hard cost, contractors, all those types of things.01:16:38.000 --> 01:16:40.000
Um, our balances.01:16:40.000 --> 01:16:46.000
These sources gotta must equal to their uses to the dollar. Like, so everything balances out.01:16:46.000 --> 01:16:53.000
And also it's a living document. So it changes as the deal evolves a little bit.01:16:53.000 --> 01:16:57.000
And that way, I mean kind of like if we're having, you know,01:16:57.000 --> 01:17:05.000
Like in certain LIHTC deals, if we have a developer fee that I can receive, I get a developer fee at, you know,01:17:05.000 --> 01:17:08.000
I get 30% of my developer fee.01:17:08.000 --> 01:17:14.000
After half the houses are done. I know when half of the houses are done six months into the build, I know01:17:14.000 --> 01:17:25.000
a note that's come and do and I'm going to be able to pay off that note, whatever for moving forward on that so that we those are kind of all in alignment there.01:17:25.000 --> 01:17:26.000
Um…01:17:26.000 --> 01:17:30.000
All right, next slide.01:17:30.000 --> 01:17:33.000
Hard costs and remote Alaska.01:17:33.000 --> 01:17:45.000
And I don't want to really preach to the choir here on this one for all of you guys that know that materials is one of your guys' hardest things that you got. I know there's01:17:45.000 --> 01:17:52.000
But specific materials that you're looking for, whatever you do on a development, you might have to get them from the lower 48 or you might not have enough.01:17:52.000 --> 01:17:55.000
and Alaska itself.01:17:55.000 --> 01:18:05.000
And you know that they're shipped by barge or air. And I know this all too much from being out there now twice in the last couple months.01:18:05.000 --> 01:18:16.000
And that's really took me, that's what this providing these modules for you guys has really taken me to heart to figure out a way to help best.01:18:16.000 --> 01:18:21.000
divide the you know most affordable housing ways and you know.01:18:21.000 --> 01:18:26.000
Um, find out different avenues to help reduce those costs for you.01:18:26.000 --> 01:18:37.000
You know, and then you have mobilization, crews and equipment that have to move to remote sites. They have to do their stuff by barge too. Their heavy equipment, all that stuff. And sometimes they'll have to set up.01:18:37.000 --> 01:18:38.000
Um…01:18:38.000 --> 01:18:50.000
concrete mixing plant there on site or whatever, and take it down site work foundations are engineered for the permafrost we all know too that how that works right did you know the thawing of the01:18:50.000 --> 01:18:55.000
and you have the adjustable piers and footings and stuff like that for, um,01:18:55.000 --> 01:19:03.000
your homes and that kind of thing that's a that's a battle in itself. That's totally different that we don't deal with here in the lower 48.01:19:03.000 --> 01:19:13.000
and Hawaii, or for that matter. And then basically the remote hard costs can far exceed our like our urban norms for sure because.01:19:13.000 --> 01:19:17.000
I might have 20 contractors available to me here, and01:19:17.000 --> 01:19:26.000
local community where you're going to have maybe three in your area you know and so they're all.01:19:26.000 --> 01:19:29.000
be just fighting for like, hey, the best price, and…01:19:29.000 --> 01:19:39.000
We're limited on our resources, so that is a huge area for increasing those hard costs in Alaska for sure. And Alaska is like.01:19:39.000 --> 01:19:53.000
I mean, it's huge. Like really, you put Texas in the middle of, you know, they say everything is bigger in Texas, you actually put like three Texas in Alaska or whatever, so people don't really notice that. So, but that's a huge that huge thing too.01:19:53.000 --> 01:19:56.000
All right, next slide.01:19:56.000 --> 01:19:59.000
Soft costs. We know01:19:59.000 --> 01:20:05.000
that, you know, we have legal fees, permitting, travel, design and engineering.01:20:05.000 --> 01:20:14.000
I know there are a lot of great firms in Alaska, but I'm sure that everybody's competing for, you know, non-tribal and tribal.01:20:14.000 --> 01:20:15.000
Bible are…01:20:15.000 --> 01:20:26.000
All utilizing the same service, right? So, those costs might be inflated a little bit, too, just because they don't have enough capacity to carry out the work for, um, all the demand that is out there right now.01:20:26.000 --> 01:20:30.000
But those are also costs that, um…01:20:30.000 --> 01:20:45.000
You can look into finding a technical assistance provider and stuff like that to help you out with that. You know, utilizing AIC to get those free resources to do… have somebody come on site to your housing authority to provide technical assistance or training.01:20:45.000 --> 01:20:53.000
whatever area that is for design, engineering, stuff like that, because they can provide some of that for you as well.01:20:53.000 --> 01:20:57.000
Alright, next slide.01:20:57.000 --> 01:21:02.000
Contingency and escalation, everybody know what contingency is for?01:21:02.000 --> 01:21:03.000
Thumbs up or thumbs down.01:21:03.000 --> 01:21:07.000
It's for bad things that happen.01:21:07.000 --> 01:21:08.000
Right. Correct.01:21:08.000 --> 01:21:22.000
Like, hey, we have to have a contingency plan. Like, I don't know if anybody watched that movie Armageddon, right? Like with Bruce Willis, there was a number of years ago I'm dating myself now, but it was like 90 came out in the late 90s.01:21:22.000 --> 01:21:27.000
Say, we just did these guys are the ones that we're going to drill our01:21:27.000 --> 01:21:30.000
in this rock that dense asteroids come through and they didn't01:21:30.000 --> 01:21:39.000
I have a contingency plan. Nope, that was it. You know, so contingencies, reserves back up for the unexpected. Thank you, Tracy, for that.01:21:39.000 --> 01:21:50.000
So, and then also escalation, account for prices rising before you build that happens, like inflation, shortage of materials and stuff like that. So prior to.01:21:50.000 --> 01:21:53.000
COVID in the pandemic.01:21:53.000 --> 01:22:00.000
A sheet good of a 4x8 sheet of OSB in the lower 48 was $6 a sheet.01:22:00.000 --> 01:22:02.000
After…01:22:02.000 --> 01:22:14.000
COVID started and there was a shortage of supply materials, that same sheet of a 4x8 sheet of plywood was now we were selling them here at a local Home Depot for like $40 a sheet.01:22:14.000 --> 01:22:22.000
So, you never know what the world market and things might happen out there that can change those escalation and cost.01:22:22.000 --> 01:22:38.000
and why they're higher here? Do you know you got weather and supply chains and volatility, which makes it super difficult for you guys. And I commend you guys and for all the hard work that you're doing to help provide affordable housing in those communities because after being there, like I said, it's.01:22:38.000 --> 01:22:44.000
amazing, and all the stuff that you have to work through to get the projects done that you guys are all working on, so…01:22:44.000 --> 01:22:51.000
And also funder expectation. Underwriters look for etiquette reserves. Make sure that you have enough money to make sure that you can.01:22:51.000 --> 01:22:57.000
cover any other costs or things that are unforeseen as you go throughout your process.01:22:57.000 --> 01:23:01.000
Next slide.01:23:01.000 --> 01:23:10.000
Operating pro forma basics. I'm going to kick this over to Tracy.01:23:10.000 --> 01:23:12.000
We see, okay.01:23:12.000 --> 01:23:13.000
Oh, there he is.01:23:13.000 --> 01:23:18.000
Oh, there you go.01:23:18.000 --> 01:23:21.000
Oh, you're on mute.01:23:21.000 --> 01:23:23.000
Thank you.01:23:23.000 --> 01:23:25.000
Yep, no problem.01:23:25.000 --> 01:23:28.000
So… I don't know…01:23:28.000 --> 01:23:39.000
We don't have a sample here, but again, income, so pro forma is basically01:23:39.000 --> 01:23:42.000
We have to cover…01:23:42.000 --> 01:23:44.000
all of the…01:23:44.000 --> 01:23:48.000
that. And expenses.01:23:48.000 --> 01:23:51.000
Um…01:23:51.000 --> 01:23:57.000
Yeah, income, so we get rents and then operating expenses.01:23:57.000 --> 01:24:06.000
And then NOI and sustainability. And I think it comes on the next slide.01:24:06.000 --> 01:24:07.000
Yep, go for it.01:24:07.000 --> 01:24:11.000
The debt cover. Yeah.01:24:11.000 --> 01:24:19.000
Operating reserve, um…01:24:19.000 --> 01:24:22.000
Okay.01:24:22.000 --> 01:24:25.000
So yeah, within…01:24:25.000 --> 01:24:32.000
the budget. We have to certainly plan on.01:24:32.000 --> 01:24:35.000
you know, a 15-year…01:24:35.000 --> 01:24:46.000
operating budget?01:24:46.000 --> 01:24:47.000
Right.01:24:47.000 --> 01:24:55.000
And that's specifically common with a lot of LIHTC deals too. I see that because a lot of people need to make sure that the project is feasible, that the project can sustain and service the debt, and make sure that they have enough revenues generating from rents received.01:24:55.000 --> 01:25:02.000
Um, to cover any capital expenses, as it's something as they move forward, and also have enough for replacement reserves.01:25:02.000 --> 01:25:15.000
And those type of things. So it's like planning early and getting it moving and get ahead of it. That's why a lot of these a lot of these things are more prominent like with LIHTC deals in tribal communities are so much harder to service the debt.01:25:15.000 --> 01:25:37.000
compared to non-tribal communities because like a developer can like, hey, we got a loan, we can get this and we'll cover the debt and make sure that we have they have different rules that are not in tribal communities like they can, you know.01:25:37.000 --> 01:25:38.000
Mm-hmm. Okay.01:25:38.000 --> 01:25:41.000
So, you know, depending on if it's light tech deal and you have mixed income for that project, you can have some fair market rents, you can have 30, 50, 60% AMI rents for each that. So as you go through that, that's.01:25:41.000 --> 01:25:54.000
One of the things that is good to have reserves and replacement planning on this. So when they underwrite the deal, they want to make sure that they have resources available to help service the shortfalls and down times and, you know.01:25:54.000 --> 01:26:00.000
when you might not be 100% leased up.01:26:00.000 --> 01:26:01.000
All right.01:26:01.000 --> 01:26:03.000
Yeah, very true.01:26:03.000 --> 01:26:09.000
And it's kind of a good segue right here into underwriting and financial feasibility. So, okay, um, so the next slide.01:26:09.000 --> 01:26:16.000
what underwriters look for coverage. Can income safely cover that debt and is kind of like insane, alluding off in the last slide.01:26:16.000 --> 01:26:19.000
I'm gonna make sure that if I have 10 units,01:26:19.000 --> 01:26:30.000
And I want to make sure that they're all leased up, that I have enough money and income to cover our expenses for that, for our project overall. As being a manager for a.01:26:30.000 --> 01:26:43.000
entity or whatever, you want to make sure those costs are covered. And these are things that you'll go through in the development tool, which we'll share with you at the end of here today, and that'll be like a kind of homework assignment kind of segue for everybody.01:26:43.000 --> 01:26:59.000
Um, and we want to make sure that the loan to value is reasonable against the project value of the cost. So when I have a $10 million project, I want to make sure that my loan to value is set at the industry norm for that whole deal for the project to be.01:26:59.000 --> 01:27:10.000
feasible and that you have, we have also reserves and cushions that are adequate for like a remote asset basically being, you know, out, you know, in small or.01:27:10.000 --> 01:27:13.000
hard to get to areas and stuff like that as well.01:27:13.000 --> 01:27:29.000
Um, the sponsor strength too. Um, does team have capacity to deliver it? Sometimes that's where you bring in a third party consultant or whatever, or TA provider, if it enter if it's a Trevoy or whoever it may be.01:27:29.000 --> 01:27:44.000
Um, to help out fill those gaps to do asset management reporting, all these different types of things. You want to be sure you have to have the capacity to deliver, because you have to have expectations to finish the project, make sure it's closed, those types of things before, um, you can get, you know, other01:27:44.000 --> 01:27:52.000
final payments from your equity investor something like a like a developer fee or whatever that may be.01:27:52.000 --> 01:27:56.000
Next slide.01:27:56.000 --> 01:28:09.000
Debt service coverage ratio, essentially kind of like just what I was talking about earlier, the net operating income divided by our annual debt service. Like, if I have $500,000 in debt, I know I need to have at least that.01:28:09.000 --> 01:28:18.000
and operating income to make sure that my project is feasible, and that I can still continue operating a project without any issues.01:28:18.000 --> 01:28:25.000
And basically the basically ratio of one means that income exceeds the payments. So like we01:28:25.000 --> 01:28:41.000
We have enough operating income to pay our debt service to the project if it's a loan or if it's anything else on project that we have to cover. That way it means that it's sustainable, it's feasible for us for the project to move forward. And a lot of.01:28:41.000 --> 01:28:51.000
Banks are going to look at that and stuff like that as prior before they approve a loan or anything like that. They just make sure how feasible is your project going to be long term.01:28:51.000 --> 01:28:53.000
Okay.01:28:53.000 --> 01:28:55.000
All right, next slide.01:28:55.000 --> 01:28:58.000
And then sizing the mortgage.01:28:58.000 --> 01:29:03.000
Start with the net operating income. Begin for sustainable net operating income basically.01:29:03.000 --> 01:29:08.000
Um, you know, apply the coverage, divide available income by the target ratio.01:29:08.000 --> 01:29:21.000
And then trying to solve them for the debt that yields the supportable annual payment. So we want to make sure that we have enough operating income that's going to cover our annual payments that covers our debt as we move forward.01:29:21.000 --> 01:29:30.000
Um, and then the gap, everything else must come from the grants and equity, right, that we're going to receive, that we have within that project and that capital stack.01:29:30.000 --> 01:29:31.000
Or deferred development.01:29:31.000 --> 01:29:35.000
Um, I think, yeah, yeah, yeah, or divert, divert developers. Yep, go ahead, JC. I was just going to say, go ahead.01:29:35.000 --> 01:29:39.000
Which is awful, but…01:29:39.000 --> 01:29:40.000
Yep.01:29:40.000 --> 01:29:43.000
At the same time, that's the gap filler at the end.01:29:43.000 --> 01:29:44.000
Correct. Right.01:29:44.000 --> 01:29:47.000
Next slide.01:29:47.000 --> 01:30:01.000
And here we're talking about it here is, again, the gap filler, gap financing. What is it? Is it shortfall after debt and the base equity, right? So we have, um, so much in debt, and we only have so much in equity, so there's a gap finance, we have to fill that gap.01:30:01.000 --> 01:30:11.000
Um, why is it large? There's a lot of high costs, um, that widen the gap in Alaska, right? We know that. Um, and I understand that from just.01:30:11.000 --> 01:30:21.000
It's like, I'm so glad I was able to be there like twice in the last couple months to understand that and how that, how different that is and how real it is and how like the01:30:21.000 --> 01:30:30.000
type of logistical nightmares that you guys all face in your tribal communities, bring stuff in by barge, and when you have to order stuff, and those types of things.01:30:30.000 --> 01:30:33.000
And in some ways and how to close it.01:30:33.000 --> 01:30:43.000
We can have NAHASDA, you can write it in your IHP and or do an AHP application from a Federal Home Loan Bank.01:30:43.000 --> 01:30:50.000
CDBG and or philanthropy money that's there too to help fill that gap financing.01:30:50.000 --> 01:30:58.000
And basically, just basically your… the skill in the whole thing is matching those gaps sources to the eligible costs that can figure it out.01:30:58.000 --> 01:31:12.000
didn't cover my soft costs and the construction costs and get things going through till I get equity payments and stuff for my investor to make payments for the deal as we move through the construction process as well.01:31:12.000 --> 01:31:16.000
All right, next slide.01:31:16.000 --> 01:31:21.000
Feasibility and red flags, then coverage that servers.01:31:21.000 --> 01:31:23.000
And, uh…01:31:23.000 --> 01:31:33.000
ratio basically is barely clears 1 1%. It's a fragile stack, a deal that fails if one source slips basically kind of01:31:33.000 --> 01:31:36.000
Like, make sure that you01:31:36.000 --> 01:31:46.000
have enough net operating income to cover those your debt service as well as you go through the whole stack.01:31:46.000 --> 01:31:47.000
And…01:31:47.000 --> 01:31:57.000
Understated costs, like budgets that ignore remote premiums, specifically in Alaska, you're going to deal with a lot of different things that may be inflated factors that you're going to deal with on costs.01:31:57.000 --> 01:32:06.000
Barge costs, shipping, all those different things that are happening, lack of logistical providers that are delivering materials to sites and those types of things.01:32:06.000 --> 01:32:16.000
And there's also like on top of that, there are no reserves like cushions are too small for a remote asset and those types of things. Those are kind of01:32:16.000 --> 01:32:23.000
um, like, red flags for that feasibility issue, too, that, um, some underwriters and stuff like that might have.01:32:23.000 --> 01:32:30.000
for concern on providing, you know, financing or something to a deal that may be happening there.01:32:30.000 --> 01:32:31.000
Anything else I'm wanting01:32:31.000 --> 01:32:33.000
include on that, Tracy, or kind of…01:32:33.000 --> 01:32:38.000
Yeah, I think another red flag is just for me,01:32:38.000 --> 01:32:41.000
capacity of the…01:32:41.000 --> 01:32:46.000
The staff.01:32:46.000 --> 01:32:49.000
Right. Okay.01:32:49.000 --> 01:32:53.000
Alrighty, next slide.01:32:53.000 --> 01:32:58.000
Risk analysis and sensitivity. So again,01:32:58.000 --> 01:33:03.000
You know, love in Alaska, but here he goes, fuel and utilities has high01:33:03.000 --> 01:33:19.000
energy costs against net operating income, vacancy. The model is a softer cost occupancy. It's in small markets cost overruns that happens. Availability of contracts or construction processes and surprises that might happen.01:33:19.000 --> 01:33:32.000
Our products and materials weren't delivered that happens. Mitigation reserves and flexible sources to absorb those shocks and stuff like that. Want to make sure that we have enough of that.01:33:32.000 --> 01:33:33.000
Um, yeah.01:33:33.000 --> 01:33:40.000
to move forward, so we don't have to cover those costs and sometimes those delays.01:33:40.000 --> 01:33:43.000
Oh, and I see we got a message in the chat there.01:33:43.000 --> 01:33:49.000
A lot of the villages bring in construction workers, and you have, yeah, right.01:33:49.000 --> 01:33:52.000
100%, that's… that's a huge issue too.01:33:52.000 --> 01:33:57.000
Okay, next slide.01:33:57.000 --> 01:34:05.000
From feasibility to closing, um, commitments, essentially are converting interest into binding letters of agreement.01:34:05.000 --> 01:34:06.000
or…01:34:06.000 --> 01:34:19.000
Saying that our project is now feasible, we have the funding gaps and we have those gaps closed to make the whole project feasible. And then we also have within our due diligence, our funders are going to verify those costs.01:34:19.000 --> 01:34:23.000
at site, and for the overall team that we're working on.01:34:23.000 --> 01:34:33.000
Um, we have an aligned timing. Sequence is closing. Um, so nothing lapses, essentially. So we can keep moving on, especially in Alaska when you have.01:34:33.000 --> 01:34:48.000
specific build times and deliverables that you have, and it has to be all on point, it has to be aligned perfectly to make sure that those deliverables are met. So timing can go and construction and something is coordinated at the same time.01:34:48.000 --> 01:35:00.000
And then at the closing, all sources, fund and construction begins, and then we can get everything going there. How are the costs factored in? Are they part of the project costs?01:35:00.000 --> 01:35:04.000
Oh, see, hold on a second, let's pull that up.01:35:04.000 --> 01:35:05.000
Oh, no.01:35:05.000 --> 01:35:06.000
Well, I'm sorry, Jeff, I was just trying to shoot a question over to Alice.01:35:06.000 --> 01:35:07.000
about…01:35:07.000 --> 01:35:09.000
Oh, okay, no problem. Oh, that's fine.01:35:09.000 --> 01:35:11.000
Okay.01:35:11.000 --> 01:35:15.000
All right, next slide.01:35:15.000 --> 01:35:18.000
So, Alaska case studies.01:35:18.000 --> 01:35:30.000
talk about these here. So cook inlet for those of you that are on for Cook Inlet, Coronada Park, Eagle River within the Anchorage Municipality.01:35:30.000 --> 01:35:37.000
It was a mixed income, multi-generational neighborhood with a mix of senior apartments and family rental and home ownership.01:35:37.000 --> 01:35:49.000
Um, which is awesome. Um, they have, um, got recognition from winning a 2021 Edison Tax Credit Excellence Award.01:35:49.000 --> 01:35:51.000
Which is very cool.01:35:51.000 --> 01:35:56.000
Um, next slide.01:35:56.000 --> 01:35:59.000
So the capital stack on Coronado Park.01:35:59.000 --> 01:36:08.000
Um, how they braided their resources to make the deal pencil out. So they received 9% equity over overall developments, which is going to cover 80% of the cost.01:36:08.000 --> 01:36:23.000
And then received a $650,000 affordable HP grant. And then they have AHP assisted units in phase two of 31 of the units as well.01:36:23.000 --> 01:36:26.000
Okay, next slide.01:36:26.000 --> 01:36:30.000
So in the lessons learned here in Coronado Park.01:36:30.000 --> 01:36:31.000
Um, .01:36:31.000 --> 01:36:38.000
We have, you know, how the phasing worked out, building in phases, manage risk and the capital.01:36:38.000 --> 01:36:41.000
Because it was staged out where everything was set up and aligned perfectly.01:36:41.000 --> 01:36:46.000
for everything, the blended incomes brought in the funding toolkit as well.01:36:46.000 --> 01:36:49.000
And then the bank partners.01:36:49.000 --> 01:36:52.000
I was able to unlock the HP Grant for them.01:36:52.000 --> 01:37:01.000
And then also on top of that, they provided on-site engagement supports, long-term success for the whole project overall.01:37:01.000 --> 01:37:05.000
And next slide.01:37:05.000 --> 01:37:13.000
Tlingit Haida Housing Authority, or this was that this was Juneau based serving southeast Alaska.01:37:13.000 --> 01:37:14.000
Um,01:37:14.000 --> 01:37:23.000
It manages 540 plus units across 70 communities and the tribe serves, acts as THE for 12 southeastern tribes.01:37:23.000 --> 01:37:27.000
The focus on it is both rental housing and home ownership.01:37:27.000 --> 01:37:32.000
Okay, next slide.01:37:32.000 --> 01:37:40.000
And the homeownership financing on this particular project, success starts with basically me, right? A program helping citizens become homeowners.01:37:40.000 --> 01:37:51.000
$2 billion that they provided in grant funding to support down payments and qualifying. Um, so like I said, like, you can do that in, um, your IHPs and stuff like that, and provide that to homeowners.01:37:51.000 --> 01:37:59.000
And then HUD 184 loan guarantee makes lending possible on address lands or in the corporation areas in Alaska.01:37:59.000 --> 01:38:02.000
And see, oh.01:38:02.000 --> 01:38:09.000
Oh yeah, okay, and, uh, Surabhi just dropped us in the chat, too, for everybody, the RD office, and last may be able to help our number units, as well.01:38:09.000 --> 01:38:10.000
For preservation.01:38:10.000 --> 01:38:11.000
Thank you for the opportunity to share.01:38:11.000 --> 01:38:19.000
The Rural Loan Program, local.01:38:19.000 --> 01:38:24.000
That's all right.01:38:24.000 --> 01:38:31.000
Alright. So in the real loan program, local finance remote southeast homes, too, as well. So that's.01:38:31.000 --> 01:38:40.000
option for them for that whole Tlingit Haida homeownership financing aspect there as well. Next slide.01:38:40.000 --> 01:38:44.000
Um, so in the lesson learned here.01:38:44.000 --> 01:38:57.000
And I truly believe this. I think that homeownership in our tribal communities actually makes our communities better and more thriving because everybody takes pride in the home ownership of their unit.01:38:57.000 --> 01:39:11.000
And when we have people that are, you know, taking pride in their home ownership of their homes, that helps generational wealth for them and provides sustainability for future generations and stuff like that.01:39:11.000 --> 01:39:14.000
It's overall just, you know, lessons learned for being…01:39:14.000 --> 01:39:16.000
Um, .01:39:16.000 --> 01:39:18.000
for, you know,01:39:18.000 --> 01:39:21.000
Just, I'm gonna go back just a second is that…01:39:21.000 --> 01:39:24.000
Ever since I've been in tribal housing.01:39:24.000 --> 01:39:30.000
working with the tribal communities they've had worked in, then nobody's ever really pushed home ownership and tried to promote that.01:39:30.000 --> 01:39:35.000
always been commonplace, so there has to be a paradigm shift in saying, hey,01:39:35.000 --> 01:39:42.000
We can give you a roadmap to help you become a homeowner and provide that to you and your families. You don't have to always have a rental.01:39:42.000 --> 01:39:50.000
it or whatever, be a homeowner um and create that long-term sustainability for your family and your future generations.01:39:50.000 --> 01:39:51.000
So, um…01:39:51.000 --> 01:39:56.000
And also, they also provided counseling and down payment.01:39:56.000 --> 01:40:00.000
Aid white… to widen access for the whole program.01:40:00.000 --> 01:40:08.000
And then guarantees matter. Section 184 is essential on tribal trust land or and on fee land. So it works both sides.01:40:08.000 --> 01:40:14.000
In a regional scale, one authority can serve many small communities as well.01:40:14.000 --> 01:40:19.000
Um, in, in a lot of areas, like especially specifically in Alaska.01:40:19.000 --> 01:40:22.000
And next slide.01:40:22.000 --> 01:40:25.000
Bering Straits Housing Authority.01:40:25.000 --> 01:40:29.000
Headquartered in Nome on the Bering Coast over01:40:29.000 --> 01:40:35.000
17 villages roughly across 23,000 square miles, which is huge.01:40:35.000 --> 01:40:39.000
And over 400 units that were built and maintained.01:40:39.000 --> 01:40:47.000
home going to cost around a million dollars there just because of the location and stuff on that case in point,01:40:47.000 --> 01:40:54.000
I'm a member of this cognitive blog community in Northern Wisconsin, and our tribal community is only01:40:54.000 --> 01:41:05.000
Um, like, 3 square miles total. That's how big ours is. We're your smallest tribe in Wisconsin, so having 23,000 square miles in that area, that is.01:41:05.000 --> 01:41:14.000
Very good. And very cool. Makes me jealous. So next slide please.01:41:14.000 --> 01:41:24.000
And so, and, like, in the Bering Straits, financing remote construction, like, this is the biggest thing right here, like, you guys have barge windows, and I don't know all of this 100% yet,01:41:24.000 --> 01:41:36.000
I know you guys are… you guys all probably know it all too well. Like there's a sea lift cutoffs and you have to have barge windows that you can align with everything. And when you know and you have to have.01:41:36.000 --> 01:41:42.000
Um, orders in and stuff to get stuff in before wintertime, or once and stuff like that happen. Um…01:41:42.000 --> 01:41:46.000
That's a huge thing on, um…01:41:46.000 --> 01:41:49.000
The construction aspect of it.01:41:49.000 --> 01:41:59.000
And then on top of braiding your grant stuff together with NAHASDA with federal and state funds, those are different things that happen at different, you know, different times.01:41:59.000 --> 01:42:10.000
the ISP, that's due. I think that the ISPs were due for all the tribes were due like July 17th, like, just last week um and then you might have another state agency that's there.01:42:10.000 --> 01:42:15.000
programs and their grants are opening, but they're not due until you know01:42:15.000 --> 01:42:22.000
like November or whatever. So figuring all those things out, that's a huge thing to juggle as well.01:42:22.000 --> 01:42:34.000
On top of weatherization, modernization, and rehab extended scarce units, like 100% because there's a huge thing out there to make sure that.01:42:34.000 --> 01:42:40.000
proper weatherization in current modes of construction are provided.01:42:40.000 --> 01:42:45.000
to make sure that our units last as long as they possibly can.01:42:45.000 --> 01:42:49.000
Huge thing, another thumbs up or thumbs down for everybody if they can.01:42:49.000 --> 01:42:57.000
How hard is it for you guys to figure out on local workforce and hiring local hiring people to build capacity alongside your housing?01:42:57.000 --> 01:43:01.000
hard to get it or are you looking for housing?01:43:01.000 --> 01:43:08.000
and help support those people that are over income that typically are in the housing units cannot house.01:43:08.000 --> 01:43:22.000
Because that's a big thing I know here in the Midwest, they want to try to provide and promote more workforce housing and that availability of that as well, because in a remote areas.01:43:22.000 --> 01:43:24.000
Oh, okay. Thank you.01:43:24.000 --> 01:43:26.000
Thank you for that, Alice. Thank you for that.01:43:26.000 --> 01:43:31.000
Update on that.01:43:31.000 --> 01:43:35.000
Coronado Park. Okay.01:43:35.000 --> 01:43:40.000
All right, uh, next slide, please.01:43:40.000 --> 01:43:47.000
And then some of the cross case takeaways on this, so, like, there's no one single source.01:43:47.000 --> 01:43:57.000
Um, every case can braid several different funding streams 100%. Sometimes you might be, if you're a small enough community, you can just do, you can have one source. It could just be my HPG.01:43:57.000 --> 01:44:05.000
Or I could just use an AHP grant to do something or update stuff in my community.01:44:05.000 --> 01:44:06.000
Um… .01:44:06.000 --> 01:44:17.000
The guarantees unlock lending in 184, Title VI Bridge Trust Land Gaps in some areas because they can be used on both on and off tribal or fee or trust land.01:44:17.000 --> 01:44:18.000
Um, .01:44:18.000 --> 01:44:23.000
Local capacity actually helps out a lot because strong authorities deliver complex deals.01:44:23.000 --> 01:44:25.000
Um, .01:44:25.000 --> 01:44:40.000
Case in point, like, if you have say like the I'm saying to say the power of aha and they're pulled that they may have politically or help can help convince a funder to help out with a different deal that they would never.01:44:40.000 --> 01:44:46.000
normally work on and those types of things. So that's kind of a good thing to have.01:44:46.000 --> 01:44:57.000
capacity and being in partnership with your local housing authorities and housing associations in those particular situations when something might need to be helped out with.01:44:57.000 --> 01:45:04.000
And then also planning your own logistics. And Alaska's geography shapes every budget.01:45:04.000 --> 01:45:09.000
I'd been there it's like unbelievable um and01:45:09.000 --> 01:45:14.000
It's, you know, that's going to take a lot of stuff out of, you know,01:45:14.000 --> 01:45:28.000
regular norms for the lower 48 as far as deliverables of materials, content, everything else for anybody that needs help with. If it's a TA provider, if it's you got to get a.01:45:28.000 --> 01:45:33.000
cost survey or cost benefit analysis on a lot of different things for any type of your deals.01:45:33.000 --> 01:45:36.000
But there's a lot of, um…01:45:36.000 --> 01:45:43.000
providers observe like say Enterprise, and a lot of people that we've partnered with in the past that can help out with those things as well.01:45:43.000 --> 01:45:50.000
Okay, next slide.01:45:50.000 --> 01:45:53.000
All right, we're coming up to our end here. Then we're gonna…01:45:53.000 --> 01:45:54.000
Um, Jason, do you want to kind of walk through this a little bit here with them? Or, I mean, we can both do it. We can both tag team it if you want. That's fine.01:45:54.000 --> 01:46:01.000
Yet Donald was asking about that, so I was trying to figure out how to respond just to him, but I couldn't. So, yeah, there's a database, the RD office.01:46:01.000 --> 01:46:05.000
Um, so I think…01:46:05.000 --> 01:46:07.000
that, um…01:46:07.000 --> 01:46:16.000
Adrienne's gonna share again what you shared earlier, but it's kind of buried maybe in the chat.01:46:16.000 --> 01:46:17.000
Yep, she just dropped it in the chat.01:46:17.000 --> 01:46:22.000
Yep. So, I believe… let's just work on…01:46:22.000 --> 01:46:29.000
Each group work on this exercise, and then we'll pick that up at the next.01:46:29.000 --> 01:46:31.000
before the next well.01:46:31.000 --> 01:46:33.000
Before the next one, yeah.01:46:33.000 --> 01:46:44.000
get out an email to, or everybody, and maybe we can set up a separate time, maybe, like, the middle of next month, everybody, because our next module deliverable is going to be September 28th.01:46:44.000 --> 01:46:52.000
Um, but we want to give you a scenario here. And then Adrienne so graciously drop that in the chat for us. Our native toolkit.01:46:52.000 --> 01:47:02.000
So your scenario and your little homework assignment for everybody is you have a project, a 12 unit elder housing building in a hub community.01:47:02.000 --> 01:47:18.000
And you have your total cost on here, assume a remote inflated development budget. So, like, you know, you have barge costs, deliverables, and stuff like that that are hard to get, inflated cost for contractors because limited contractors, so you can have inflated costs.01:47:18.000 --> 01:47:25.000
Um, the community is kind of off-the-road system, kind of like in this picture here a little bit, you can see it. Um, like, there's not a lot out there.01:47:25.000 --> 01:47:29.000
Um, and everything's only it's servedly by barge.01:47:29.000 --> 01:47:35.000
Um, so your role is your development finance team. Uh, next slide.01:47:35.000 --> 01:47:41.000
And then your task is basically to assemble all your sources that you can, like, the ones that we talked about.01:47:41.000 --> 01:47:53.000
Um, and then size out the debt. Say we have with the size of the housing that we wanted to do and figured out how to supportable financing is.01:47:53.000 --> 01:47:57.000
Find the gap that you have in your… in that area,01:47:57.000 --> 01:48:14.000
calculate what soft money must cover, right? So in the tool that we have provided to you in the chat, if you click on that and bookmark it and you have it, you'll have a guide that'll pull up for you as a pro forma so you can go through and enter some funding scenarios and gaps and stuff inside.01:48:14.000 --> 01:48:16.000
of the toolkit.01:48:16.000 --> 01:48:19.000
And you can find out like, hey,01:48:19.000 --> 01:48:23.000
We say it's 12 houses that we wanted to do in this homework scenario, but hey.01:48:23.000 --> 01:48:30.000
area and our location, we can only do 10, you know what I mean? So you can figure out how much, um…01:48:30.000 --> 01:48:34.000
you build out their funding gap with that if it's AHP.01:48:34.000 --> 01:48:40.000
Um, any philanthropy money and stuff like that as you move forward throughout this task.01:48:40.000 --> 01:48:44.000
Next slide.01:48:44.000 --> 01:48:57.000
Um, so the sources and uses, like, and you'll see it in the development guide, in the development toolkit, um, it provided by, um, Enterprise, and it's free to use for anything, Enterprise, any development you guys want to do.01:48:57.000 --> 01:49:03.000
Um, so you have uses, acquisition site, land site prep, hard costs.01:49:03.000 --> 01:49:14.000
Um, soft costs, design, legal, travel, and fees, so you're gonna add all these up, say, hey, we're gonna have design, legal, we have surveys, all those types of things that need to be done.01:49:14.000 --> 01:49:27.000
reserves operating and replacement costs, like we talked about earlier. We want to make sure that we have enough operating reserves and stuff to replace capital expenditures that we need to as we move throughout the process. And then also in the sources.01:49:27.000 --> 01:49:37.000
We have our debt, our size from our supportable net operating income, and then our LIHTC equity. If it's LIHTC equity project, right?01:49:37.000 --> 01:49:54.000
syndicated credits and there are grants if we're going to use those if it's NAHASDA, HP, CDBG, and I should have actually put another one on there if there's any philanthropy money that's available or donors, you know, there's a lot of other communities in specific areas of the country that would provide, you know, hey, a $10,000 grant for01:49:54.000 --> 01:49:59.000
helping you out with soft costs or designs and stuff like that.01:49:59.000 --> 01:50:05.000
And what you have is, at the end, your gap is what still must be found, right?01:50:05.000 --> 01:50:06.000
Okay.01:50:06.000 --> 01:50:07.000
So just remember all…01:50:07.000 --> 01:50:11.000
It has to equal zero.01:50:11.000 --> 01:50:31.000
Correct.01:50:31.000 --> 01:50:32.000
Yeah.01:50:32.000 --> 01:50:33.000
Um, I just want to add, since many of the groups are non-housing, I think we have a couple housing program staff on the training. If people want to share it with their housing folk, they can then reach out to us.01:50:33.000 --> 01:50:45.000
And we can work with them on the exercise if they want to do it. If they don't, that's fine. This is not mandatory. It's an optional thing. Um, especially if you have an existing project, it's something you can start to plug in and then01:50:45.000 --> 01:50:55.000
The Enterprise team is available to help with technical assistance on your specific project as well.01:50:55.000 --> 01:50:56.000
Correct. Thank you for that, Surabhi.01:50:56.000 --> 01:51:02.000
And Tracy, if you want to add your email, too, in the chat.01:51:02.000 --> 01:51:03.000
Yeah.01:51:03.000 --> 01:51:11.000
Yeah, drop mine in there so anybody can get that and reach out to myself or Tracy at any time and you have questions going on anything on this.01:51:11.000 --> 01:51:16.000
I'd love to chat with you about it and kind of go out go through what the whole scenario.01:51:16.000 --> 01:51:18.000
Um, yeah.01:51:18.000 --> 01:51:22.000
So next slide.01:51:22.000 --> 01:51:26.000
So, action planning, um, near the term project, name one01:51:26.000 --> 01:51:39.000
deal to advance this quarter like so on top of your little exercise there, like, if you guys have a project or something like they have, um, something that you want to do moving forward, figure out what your funding priorities are.01:51:39.000 --> 01:51:52.000
And we can sequence, like, applications to submit first, like, say, I know we have an RD grant has got to go out. IHP, ICDBG, Community Development Block Grant sources, get those all out there.01:51:52.000 --> 01:52:00.000
Partners to call and identify those banks in your area, um, that you may be working with you, um, native CDFIs for that matter.01:52:00.000 --> 01:52:06.000
Um, and funders to engage with and also technical assistance.01:52:06.000 --> 01:52:14.000
You can also let us know and flag out where Enterprise support is needed throughout that whole process as you actually plan out what you want to have for development as you move01:52:14.000 --> 01:52:16.000
Move forward, um…01:52:16.000 --> 01:52:27.000
what the exercises and stuff. And your own you know you have something on the back burner that you want to do a training or not a training but you want to do development you have something that's been on01:52:27.000 --> 01:52:32.000
want to do let us know and we can help you get across the finish line if we need to.01:52:32.000 --> 01:52:38.000
Next slide.01:52:38.000 --> 01:52:39.000
All right, um…01:52:39.000 --> 01:52:48.000
resources that are next steps. A tribe leaders handbook, home ownership guides for Tribal Leaders. We do have.01:52:48.000 --> 01:52:57.000
I'll provide an enhancing and implementing training and stuff like that we do for tribal communities and stuff like that. We did our most recent one in Oklahoma.01:52:57.000 --> 01:53:13.000
Enterprise TA, direct technical assistance for some of your deals that may be out there. Our funder contacts, HUD, ONAP, FHLB, USDA, reach out to us as a resource because myself, Surabhi, Tracy.01:53:13.000 --> 01:53:22.000
Uh, our Enterprise team know a lot of resources and contacts throughout the country that can help out with something that you may be in particular, um, looking at, wanting to work on.01:53:22.000 --> 01:53:43.000
Also, just basically being a peer network and staying connected with this cohort. And that's what the whole beauty of this Alaska Accelerated Academy is to help develop and provide affordable housing and especially in the remote region of Alaska and those types of things.01:53:43.000 --> 01:53:44.000
Yes.01:53:44.000 --> 01:53:45.000
Yep.01:53:45.000 --> 01:53:49.000
Jeff, that's a great point. I think, you know, just sharing contacts and information is so important.01:53:49.000 --> 01:53:53.000
I agree. Next slide.01:53:53.000 --> 01:53:55.000
So01:53:55.000 --> 01:54:04.000
Prior to, just so you know, before we wrap up, we're going to have our next module is going to be on project development and construction management on September 28th.01:54:04.000 --> 01:54:12.000
Um, at the same time and everything else, same format, might have a couple different speakers and stuff with us at that time.01:54:12.000 --> 01:54:22.000
Um, whether or not I want to open it up for a little Q&A. We have a couple minutes left. If anybody has any questions or anything that they… any takeaways that they had or anything that they…01:54:22.000 --> 01:54:33.000
Um, want to see added to anything else or anything moving forward. Appreciate the time.01:54:33.000 --> 01:54:36.000
People are very quiet.01:54:36.000 --> 01:54:40.000
Well, obviously, I always… I wanted to embed…01:54:40.000 --> 01:54:48.000
Like, the Jeopardy music on there, you know, when you have a question… like, so people would…01:54:48.000 --> 01:54:52.000
Yep, that's true.01:54:52.000 --> 01:54:59.000
Yep, 28.01:54:59.000 --> 01:55:00.000
Yeah, we had a coalition gathering, and yeah.01:55:00.000 --> 01:55:04.000
Oh, yes, it's changed to the 28th, yes, thank you for catching that, Katrina. Yes, it has changed to the 28th. Yeah, we had a conflict ourselves with the 22nd. We're doing a gathering, yeah, of tribal housing coalitions.01:55:04.000 --> 01:55:05.000
In Utah.01:55:05.000 --> 01:55:16.000
Um, as Jeff was mentioning in Utah, so that's on the 22nd and 23rd. They're statewide and some are regional tribal housing coalitions.01:55:16.000 --> 01:55:19.000
Hopefully you see some of you guys from Alaska there.01:55:19.000 --> 01:55:21.000
Yeah.01:55:21.000 --> 01:55:22.000
Come on down to the warmer lower 48.01:55:22.000 --> 01:55:36.000
Um, anybody have any… yeah, come on down to the… yes, come to the lower 48, come see us in person, we'd love to see you. Um, and all that kind of stuff. If nobody has any other questions, I just want to thank you guys all for the time.01:55:36.000 --> 01:55:48.000
And thank you for being a partner with us and Enterprise and our team, Surabhi, Tracy, Adrienne, everybody else that's on the call. You guys are awesome and thank you so much for.01:55:48.000 --> 01:55:53.000
your time and nobody has any other questions.01:55:53.000 --> 01:55:54.000
Yep, go ahead, Surabhi.01:55:54.000 --> 01:55:57.000
We just want to ask Charlene and Cynthia if they want to say anything.01:55:57.000 --> 01:56:01.000
Sure. Yep, go ahead, Charlene and Cynthia. Thank you, Surabhi, for bringing that up.01:56:01.000 --> 01:56:09.000
No, I think that's good. I think, yeah, just thank you guys for being here, and we appreciate Enterprise putting on this presentation and01:56:09.000 --> 01:56:12.000
We appreciate everybody for01:56:12.000 --> 01:56:14.000
Hangout for this, this session01:56:14.000 --> 01:56:26.000
Thank you guys so much. Enjoy the rest of your day.01:56:26.000 --> 01:56:27.000
The QAP.01:56:27.000 --> 01:56:29.000
Yes. I also enjoyed it very much and I really, I went to go look for the LIHTC qualified document that Tracy mentioned01:56:29.000 --> 01:56:31.000
Yeah, I found it. It looks great. I'll save it for some light reading, so I appreciate it01:56:31.000 --> 01:56:32.000
It's… it's… it's…01:56:32.000 --> 01:56:36.000
Pray.01:56:36.000 --> 01:56:37.000
Yeah.01:56:37.000 --> 01:56:38.000
If you want, if you want, if you need to go to sleep at night, Charlene, that's what you read.01:56:38.000 --> 01:56:39.000
Okay.01:56:39.000 --> 01:56:51.000
It's seriously not… yeah, it's not for daytime. It's if you want to go to sleep and read that thing. It's so boring, but informational.01:56:51.000 --> 01:56:52.000
Yes, I agree.01:56:52.000 --> 01:56:54.000
Important, yes.01:56:54.000 --> 01:56:55.000
Yep, that's true.01:56:55.000 --> 01:56:57.000
Absolutely, absolutely.01:56:57.000 --> 01:56:58.000
All right.01:56:58.000 --> 01:56:59.000
Thank you all.01:56:59.000 --> 01:57:00.000
Great. Well, thank you, everyone.01:57:00.000 --> 01:57:08.000
Thank you, Jeff.01:57:08.000 --> 01:57:14.000
Yeah? Yes.01:57:14.000 --> 01:57:15.000
Yeah.01:57:15.000 --> 01:57:16.000
Thank you all so much for all the things you've done and your participation and everything. I'm looking forward to seeing you guys at the next one and also during a time in Q&A, if you need help with the exercise stuff, feel free to reach out to myself or Tracy and definitely go from there.01:57:16.000 --> 01:57:17.000
Thank you so much.01:57:17.000 --> 01:57:25.000
Yeah, and I see Alice asking for the slides. We'll send you a survey link, and when you do the survey, we'll send you the slides.01:57:25.000 --> 01:57:26.000
There you go, Surabhi.01:57:26.000 --> 01:57:27.000
Wonderful.01:57:27.000 --> 01:57:29.000
It's quid pro quo!01:57:29.000 --> 01:57:30.000
Yep.01:57:30.000 --> 01:57:33.000
Yep. Thank you, Jeff.01:57:33.000 --> 01:57:34.000
Thank you.01:57:34.000 --> 01:57:42.000
Yeah, no problem, thank you, Tracy, thank you, Surabhi, Adrienne, Cynthia, Charlene, everything for, um… it went really well today, and I appreciate all you guys' time, and, um…01:57:42.000 --> 01:57:43.000
assistance throughout the whole day.01:57:43.000 --> 01:57:44.000
Okay, great.01:57:44.000 --> 01:57:45.000
Greatly appreciated.01:57:45.000 --> 01:57:47.000
Have a wonderful rest of your day. Thank you.01:57:47.000 --> 01:57:48.000
Bye!01:57:48.000 --> 01:57:49.000
Thank you guys.01:57:49.000 --> 01:57:50.000
All right.
- Download the Development Finance and Leveraging Resources presentation
Project Development and Construction Management | September 28
This session provides an overview of the key steps involved in moving affordable housing projects from early concept through construction. Participants explore the pre-development phase, including feasibility assessments and early planning needed to determine whether projects are viable.
Property Management and Asset Management | October 22
Participants explore key aspects of property management, including operational policies, rent collection, and maintenance systems that support stable housing operations. The session also addresses capital needs assessments and long-term asset planning to help organizations maintain and preserve their housing portfolios.
Community Engagement and Resident Services | November 17
The Learning Center’s resources and all data and information provided therein (collectively, “Content”) are for general informational purposes only. All Content is provided “as is” and may no longer be current or up to date. Enterprise Community Partners, Inc., its subsidiaries and affiliated entities (collectively referred to as “Enterprise”) as well as any co-authors of any Content disclaim all liability for any errors or omissions and make no warranties or representations of any kind, either express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any Content presented. All Content should be independently verified by you before relying on it. The Content does not constitute professional advice or services (including but not limited to legal, financial, tax, or investment advice).
- Training
