Request for Housing Proposals

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we are recording just so that we can post it on the website all right

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okay good morning everyone once again thank you for joining us for the h PRI midle

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conf and let's hop on in okay so for today's agenda we did

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introductions thank you guys and so then next we're going to have a quick hop program overview that'll Segway us into

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the eligible activities for hopwa then we're going to go into a brief overview

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of the HOA service provider application and then we're going to have a section for service provider Q&A next we're

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going to go over next steps for the RFB process after that we'll take a short break for individuals to ask questions

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and then we will transition into the H project sponsor overview and then that will lead us to our project sponsor Q&A

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and as I go through the presentation if you have questions please feel free to chime in so h a program or

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review so some in the room may ask what is HLA so hopa stands for housing opportunities for persons with AIDS it

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is the only Federal program dedicated solely to individuals living with HIV and their families to support them and

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their H support them in meeting their housing needs to decrease their chances of experiencing housing in security it

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also comes with a host of uh Supportive Services that we will cover later in the um presentation it's entitlement funds

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that are awarded to the city of Charlotte from Housing and Urban

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Development so you may ask yourself well how does this whole process look and work and flow down so the way that the H

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program works and flows down is that the entitlement dollars come from Hood Housing and Urban Development to the

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city of Charlotte which is designated as the grantee and as a grant team we work

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closely with our project sponsor that Services the agencies and um supports

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the agencies as they do good work in our community to provide H services so this is a model of our flowdown so the money

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comes from Hood to the city of Charlotte then the city of Charlotte reimburses our project sponsor the project sponsor

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reimburses our service agencies so for us to do this great work

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we have to contract so the city is Charlotte is contracted with HUD and we answer um to HUD and meet their

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Contracting requirements then in turn the city of Charlotte contracts with the project sponsor and so um in the RFP

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you'll see um a section for Contracting and then also certifications that are needed when uh Contracting with us and

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then also our project sponsor then contracts with our service providers and so in the RFP for both of those pieces

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are listed the documents that your agency would need and then all the certifications in the um end of the RP

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that will be needed to be submitted and some of those include Insurance um also

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Financial expectations so audits funding is provided on a reimbursement basis so

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your agency will spend the funding and we will cover the work that is done um project sponsor cover the work for service providers and then for our

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project sponsor the city will cover um with reimbursement and payments may take up the 60 days to process and all of

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this is listed in the contracts and we'll get to that portion later so we want to give everyone today a

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little bit of insight around what duties everyone holds to make this happen for our community so as a grantee we're

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responsible for ensuring and administrating the hopp program in accordance with hood regulations and

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those regulations sit at 24 CFR 574 so we ensure that their that the respective

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project sponsor carries out activities in compliance with these rules and regulations and also we support the

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project sponsor ensuring that the service agency carries out these same standards as well um we also ensure that

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qualified service providers make available appropriate Supportive Services um we have a pleasure of

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serving 11 counties and we are very cognizant about ensuring that all 11 counties are being touched and so one of

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the ways that that looks is going to continue care meetings and which we cover for to make sure that um the

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counties are whereare the service H Services provided and then the grantee contracts with the project sponsored to

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administer the hopper program on behalf of the grante tee

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so allows a grantee um to choose how they want to implement the program so

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some communities you will find choose to administer the program directly themselves um or you can do it with a

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project sponsor so the city of Charlotte has chosen the project sponsor um option

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um to to do so so you can do it either way um traditionally since we've

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received the Hot Dollars we've had a project sponsor in place um but they do allow the other option as

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well thank you Rebecca and grateful for project sponses let's just yes it's one of the only programs that

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we do not administer directly um and grateful for a project sponsor to do so on our behalf it is a massive program

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with 11 eligible activities I believe um and no we have we have been grateful to

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have somebody be in that role for the entire time especially with the funds going up on and on and on every year so

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and they're showing a true need for hop on the community y so grantee duties continue so Grant the grantee ensures

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program performance of the project sponsor and service providers this looks like us monitoring the program for um

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performance overseeing Grant financials and work working in partnership with hood to submit required reporting

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documents and um ensuring that we're meeting the hood

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standards of monitoring and running the H program also we we the city reimburse

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the project sponsor as outlined in the contract and then we provide technical assistance to ensure program compliance

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as needed so next in the flowdown you saw the project sponsor so the project

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sponsor as Rebecca mentioned plays a very intrical part in helping us to carry out h of services to 11 counties

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so we want to give you guys a snippet about what the project sponsor does so the project sponsor is a nonprofit or

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governmental housing agency that receives funds under a contract to from the grant te to carry out eligible HOA

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activities um also the project sponsor is responsible for tracking and Reporting HOA Services provided in the

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Le County service area also the project sponsor provides continuity of services

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in the case of Community Based agencies not being able to meet the need so as mention we service 11 counties so some

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of our counties we're still working to get community based agencies in those counties so for the current time and the

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interim time the project sponsor covers those needs and those areas also the

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project sponsor maintains Financial records to ensure the proper accounting and dispersement of H funds under each

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gr cycle project sponsor duties continue so

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also the project sponsor reimburses service providers as outlined in the contract

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the project sponsor also submits monthly um invoices to the city for reimbursement as outlined in the

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contract it also assists the grantee and comp completion of the annual Caper

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which is a Consolidated annual performance and evaluation report this is a annual report um required for our

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HOA dollars that we submit to hood so the project sponsor is very intrical and helping us to gather the data for us to

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be able to submit this report and also the project sponsor provides ongoing training on eligible activities best

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practices and building processes one of the things we're seeing right now is HUD is um pushing down the three initiative

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or three strategy renew reset recharge and so the project sponsor is very cognizant about ensuring that the

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service providers are aware of the new best practices that hood is pushing

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down all right and then we transition as you seen in our flowdown chart we transition down to the service agency

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duties I'm I like the way that my supervisor puts Rebecca puts is do good work and that's what we seeing a lot of

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agencies want to do good work with these HOA dollars so a service agency um

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provides it can be a nonprofit or governmental agency and they provide the essential hppa services so the housing

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case management the substance abuse treatment um all the various Supportive Services and the um Services eligible

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under HOA they also determine the eligibility for partic participants prior to providing HOA eligible activity

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it's really important that individuals meet the criteria in order for us to spend the funding correctly so the

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service agencies they do that for us they also ensure client files are maintained in an appropriate order for

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participants serve during the performance period that helps us with our reporting um needs also they submit

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properly complete invoices for reimbursement as outlined in their contract for the services that they propose to provide for the performance

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period

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all right so next we're going to transition and talking getting more in Weeds about client eligibility and the

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services that H provides are there any questions so far I have one yes ma'am um

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am I correct in remembering that you said that you do not currently have a

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service provider in every County yes ma'am Which counties do you not have a

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service provider in that's a great question at the moment so a direct service provider like one

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located we do not so we would have to get that back to but we do have service providers that provide services in every

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County okay so like for example I believe it's Dudley's Place who provides

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um services offer services in every County okay so every county is covered

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to serve eligible services but they they may offer them virtually versus being

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located onite onite yes so every County is covered by another agency inside out

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I believe to all 11 counties so Rebecca did thank you Rebecca so yes um we we

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have really great partnership in our Network and where uh you may be based in meinberg County but you're providing

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services to people in CIS County and andon County yes ma'am okay good that's that's great thank you and the project

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sponsor role is responsible say nobody there's not an agency that covers I'm

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just going to use because that's our far reaching one and say there's not an agency who cannot provide services there

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for whatever reason the project sponsor role is to ensure that Gap is covered or

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when let's say agencies run out of money and in in their own and can't even

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provide it let's say in their own home Community for a lack of a better work is responsible for providing that Gap as

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well either in a community or in their area where they primarily are

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Shing awesome yeah thank you thank you all right so we're going to segue in

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the client eligibility so there are three facets that makes someone or

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ensures that someone is eligible for H of services so that individual or family member part of that household has to

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have the designation of HIV also be will be at or below 80% of Ami for the county

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that they're presenting for services in so this could look 11 different ways

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well maybe 10 cuz comparison in meberg County they kind of run that connect so and then also live in our service area

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and as presented on the screen we serve as ants and Kars Gaston arale Lincoln

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meinberg Rowan and Union in North Carolina and then we also have the pleasure of assisting communities in

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Chester Lancaster and York counties in South Carolina yes ma'am okay this is going to

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be to see if I get it right yes H so housing Information Services as a

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standalone activity does not require income verification so there's one except for his yeah so one eligible

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activity hisis that does not require income however in most instances that

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activity is in combination with other which does require income but it can be done as a standalone without income

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eligibility it is a little Nuance with so that would be a training thing if

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anybody's awarded that activity but just as a as a little nugget of information

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but just to make sure we

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C all right next next going seg is eligible activities under H I'm from New

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H I like to say h is kind of like the Walmart Services you can get a lot of things done here so we have supporter

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services that truly look to wrap around the person and then we have a lot of Supportive Services that um look to

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ensure housting stability among the PO should have pleas service so our Supportive Services it's a range so

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ranges from Outreach Transportation mental health M nutrition life skills

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management legal services employment assistance employment assistance

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education child care and Child Services case management alcohol and drug abuse

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Services adult daycare and personal assistance so um a lot of agencies do a

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lot of different things so Hop was very versatile in the fashion that you can um service individuals that present to

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your organization in various ways that are eligible and

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then the the downside to hot to be completely transparent is the

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regulations are very op so unlike other programs that had

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fund where there's very a lot of details in what you can and cannot do um H was a

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little behind the curve and for the most part this is um and the activities underneath it so

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as um if somebody wants to do this elig any

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of the ones that are a little more nuanced like life skills management education uh we we are ongoingly working

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on what does that look like what type of documentation do you need um because we

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haven't done a lot of these but doesn't give us a lot of guidance and so we work through those but it is all about

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providing the service to the person not so direct client service so for example

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um meals and nutritional Services um providing cooking classes so how do you

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enhance the the self-sufficient than you um the lifestyles for the person that

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were serving not necessarily providing meals to a person but we have done a

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little bit that a food pantry we did agree I believe to a food pantry at so that if

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they came in and needed U food that that we thought that was too so we've been doing a lot of work about what does this

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look like because there's not a lot of guidance around it so some of these are

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Ono how do you define it um and we'll continue to do that as um people choose

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to um expand their services as we want them to um but it will be as needed and

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a lot requesting a lot of technical assistance around these um um for transparency that we've just

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traditionally in the community done case management drug treatment uh mental

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health um transportation so um expanding this um is great but we're having to oh

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what does this look like and what is um documentation look like and things like that so but we we're absolutely open to

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doing every one of these as needed in the community just may take conversation and look having document what does that

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mean so would Lial Services there's another really do are we talking about eviction or are we

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talking about um somebody getting their green card or we talking about criminal

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cases it is I would have to read you what it looks like because what we defer

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is we defer to some other regulations that allow it and it is about I don't

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even get we'll have to no I'm not asking a question I'm just it's a person about a

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lawyer assisting a person in to in certain cases in certain cases um but

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not but I don't but there's actually a definition so we would go to another regulation that defines it for us and we

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would go oh this we would apply this to this one because it's our best

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interpretation we serve a lot of people that are are made of Spanish papers and they're not documented so establishing

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documentation might be a service that would be so there's someing of what be

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allowed right so it's the lawyer Fe connected to it that case exact but we

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that's how we tend to go other that one was on the list yeah we go to other regulations to try to help us

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interpret and then our activity is shortterm rent mortgage and utility P

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commonly refer to a strum strum is a really great El activity in the fashion

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that it allows us to pay individuals p through Grant p through mortgage and

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pass through utility and it found de necessary ongoing until they're able to stabilize so that they're securely hous

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and stabiliz the hous so that's a really great that um yeah I just want to add

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something you were doing in the commun um is the Charlotte meber Continuum of Care

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so our local continu of care now has a homelessness prevention work group is

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work group so um we have now been an

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Al I'm sorry toana uh has been plugging into that work gr because we've

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identified that from you is as like homelessness prevention dollars um that

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you would look at through other funding sour so identify that strum U very much looks

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like that so whoever is funded under strum U we will be um um asking them to

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participate in that ongoing work group as well to how does that look in

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Charlotte meinberg and how do you plug into that so that's something new we started a couple months ago maybe um for

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meberg County and we've also um at other continuums we've started promoting

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iction it looks like although it's

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not what activities continue so as Rebecca mentioned earlier housing Information Services is a eligible

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activity that doesn't require the C out of a person who providing your income and this is where we provide individuals

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with list of housing see how we can support them and located housing next we have operational expenses for facility

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based housing so we have organizations that um serve their community in the fashion of having uh Community facility

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based housing that is in their Community it's a step below hospice care it's um a setting that individuals can have

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wraparound support to ensure that they're adhering to that medical regimen and then also supports to ensure uh

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self-sufficiency uh to the most um most extent that they're able to accomplish and so we have organizations that take

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part in that and so with operational expenses we're able to cover things uh such as uh the cars and maintenance for

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the facility itself also meals and nutrition and we're going to later in this presentation cover budget and it

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have highlight some of the things that we to cover operational expenses like utility and things that are and next we

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have one caveat to facility medical expenses are

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not so nothing related to Medical um is the one C up with to of dollars it not

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anything related to Medical um because the city of Charlotte has not opted for

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that in our um Consolidated plan so we cannot cover

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any medical so you would have to have other dollars if you were doing medical services so you can request other FS but

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not in next we have permanent housing

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placing this is also a really great local activity permanent housing placement allows agencies the ability to

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help individuals their first month rent and security deposit one of the things that we find is individuals may be able

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to um afford the ongoing rent payment but it is a burden when you have to come up with tce the rent for to move into a

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place so permanent housing placing is a really great loal activity and Rebecca's work um really hard to formulate our uh

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perit hous placement in B that we can possibly let hold on to that so for the

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next we so really excited those um the

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evolution of our Perman hous plac and then next is Administration so

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this is one of the things that are that Bo for us as well so um initially our agencies were not eligible for

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administrative cost um last year we implemented admin call so these are the things of running the ho program for

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your agency overseeing the ho program for your agency and so allowing those individuals to beated um for their

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efforts that they put those the program

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and next we have additional eligible activities and these are what we more so look for for project sponsor to oversee

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for so the tenant based rental rental assistance program so under Hopper we

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have the ability to provide individuals in our 11 County service area with vouchers and um case management support

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under our Senate based rental assistance program so we assist those individuals that our eligible for the program with a

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subsidy also they receive that wraparound supports to ensure um their

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they moving forward to self-sufficiency so how to provide us as well and next is

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resource identification um one of the things that we see in our community is a lot of great things are happening and

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sometimes they happen in various corners and Pock of the community or silos and so one of the things we like for our

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project SP to do is keep everyone bre of all the awesome things that are happening and see how we can work

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together so resources in the community that can prolong our h of dollar so you know maybe we use ho for this portion as

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Rebecca mention ho can't cover medical costs but can we use ran white dollars uh to help those individual so resource

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identification to ensure that we're able to people htic

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approach and now we're going to transition to the H service provide RFP overview and this SE we going to go over

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a few pieces of a request for proposal and take questions about the request for proposal for

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service so before sprs we have the service provider Staffing form this is a really intricate part of the form of the

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application due to the fact that it'll let us know who are the proposed individuals at the agency that will be

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carrying out the H Services their role in the project their availability how much of their time will be actually

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charged to the ho program and then also um what what what education and

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experience do they bring do they have you know 10 plus years work with individuals in this community um we'd

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like to know that so that when we're um when we're supporting the agencies we know who we're working with um their

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levels of uh competency around working with population so this is a really in part and this is this will be found in

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your H RP is form number

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three next we have a proposed service budget so with our proposed service

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budget you know agencies um need to kind of have like a guideline of how much it will cost in order to service how many

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individuals that will present at their Agency for the uh year and so we created

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this proposed service budget in a fashion that we've listed every eligible activity that HOA um that HOA provides

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and so then we have a section for how much do you propose that it will cost your agency to provide this service for

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a household that comes and presents at your agency and then beyond that how many households do you plan to serve for

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that year and so after you come up with those two numbers then you can place in

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the third column the request that hop up under the amount so for instance we at

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the top there's an example here and it says it's going to cost us $400 to provide for um for example purposes

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we'll use hous information services so it's going to cost us $400 to provide

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housing information services to 10 households so essentially 400 times SP that's $4,000 so that's how much you'll

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be requesting for that he activity to provide that and so one of the things um

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this may be into the week but we'll kind of get there is that you have actual cost so the actual cost of what it would

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cost your agency to provide this service and how many household do you plan to

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provide the service to and that can help you to get to your propos

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okay for for your budget for your budget when you're looking at some of these these

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categories so some of it straightforward right for stru is number people you're going to provide rental assistance to so

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the average rent right you think the average rental assistance is $700 per person it's it's that when you're

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getting down to Supportive Services and it's staff say you're going to have a staff person doing um case management it

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is actual cost of the person salary plus benefits um that you're putting in that

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spot so what is the average salary say you have a full-time case manager you're going to have to hire for the case

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manager it's staff Plus benefits it's not the right word benefit

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fringe benefits thank you um for that times the number you know so if it's

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fullo time if it's just a part-time worker that's what you're doing you're also including in this case management

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line item when you're looking at it is it's not just the time that you're face

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to face with the client right it's the time that you're doing um case notes you're doing your

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time sheet so it's um it's those other things that we're allowing you to put in

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those hours so I I know some programs don't allow you only allow to charge the

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when you have the client in front of you when you have the client in your car that one we're allowing you to capture

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the hours that are when you're doing things that also benefits the

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client um that these hours are not admin so the direct the things that benefit

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the client direct and indirect are under your Supportive Service Case Management

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Mental Health that those are those outwards your admin hours are going to

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be the admin hours that are doing your um invoicing um to submit to the project

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sponsor to if you have to collect data to submit to the project sponsor so it's

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a very limited activities as defined in the RS so just being really clear what

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can go and the Staffing in that it's time salary plus fringe benefits

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don't forget the Fring benefits that you get to capture those as well and actual

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expenses it doesn't have to be um the unit cost like we used to have

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a few years ago and time that that benefits the client not just when the

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client sitting in front of you or in your car or any of those things we want you to

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capture the whole whole cost to serve the

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next expence we have a program application and this is a program application for service providers so it

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is form four in the request for proposal and so um in this part of the

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application we ask for your experience working with individuals and vulnerable populations um we ask for how do you

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plan or plan to administer certain parts of the program at your organization and

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then we also give a highlight of the El activity and and um where you can find

29:59

details and reference to those as

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well now we're at a question and answer portion for service

30:14

providers does anyone on have any questions emergency service provid can want y can come off of mute

30:23

and stay off on mute um if you want to yeah I have a

30:29

question okay so um if if you're and I I

30:34

apologize because this kind of goes with the project sponsor side and I know you haven't gotten there yet but um would a

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project sponsor who is also providing Direct Services have to complete this uh

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program service section as well yes so and we will talk about that

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a little bit in a in a few minutes so so because the project sponsor will be

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responsible for filling all gaps in the community um you will be need to

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complete the service provider application as well and for and

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additionally like for tbra there's case management you'll need to include the case management under the service

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provider as well as your Admin falls under the service provider um no the

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admin's all there's a I'm sorry don't take that part out the ad you have an admin line in the project sponsor but

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yes any services that you provide as Gap um need to go in the service provider

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and case management for tbra falls under that service provid so you're going to do a project sponsor will do both

31:48

applications you thank

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you any more questions about the Serv provider

32:01

application thank you so next we're going to transition to what's next service provider and project sponsors

32:08

the alike so um let's hop in so next

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you'll submit the applications well we'll have a period for you to submit questions to us and so

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we'll respond back to those questions and all questions help everyone so we're going to post those on the website so

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that if you know one agency had a question that they didn't get posed but this agency posed it it'll benefit

32:33

everyone so we'll post all questions um and I want to say that the deadline for questions is June 7th um by midnight so

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and we'll have those posted for everyone you this is by noon um I want to say

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this says by noon it says by noon okay justy yeah because I would be the one that would like hit toid

32:53

5:00 yeah so um we have it by noon so if you would please get those to by noon and that'll give us some um time to go

33:00

ahead and get everything typed up so we can share with everyone thank you for that it'll be posted though we won't be

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circulating it'll be posted to the website where the RFP we'll respond to individual

33:11

questions and then post so if you submit one and Ryan we will answer your question directly and then post

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everybody's great and so then after that period of time the H RFP Cod is going June

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or 19 19 17 1 today

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I at midnight 1158 midnight give me the whole day the whole day for that one so

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the uh po RFP will close June the 17th at midnight and so at that point in time we

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will be reaching we will convene with our Review Committee and we'll review the applications and um me with them to

33:57

see the best approach to move forward and so one of the things that we're going to be looking for is the qualifications and experience as far as

34:03

individuals providing the services the proposed approach to meeting the needs of the community that we have a pleasure

34:09

of serving um the cost Effectiveness how can we make a h dollar stand um and be

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the most impactful um availability to complete program work in a timely manner um just that the processes are sure and

34:23

consistent um half RP application scorecards and the service provided scorecard can give you the insight to

34:31

how we're going to score each um question that is posed in both parts of the application and those are provided

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on the city website as

34:43

well all right and I'm throwing out the wrong date but here's the timeline for you to know for

34:50

sure and so the timeline is we covered uh May the 29th um is today the PRI

34:56

middle Conference next deadline or next big event is June the 7th the deadline for the questions and then June the 17th

35:03

please ask that you have your request for proposing submitted by

35:10

1159 and if you're doing a project sponsor and a service provider please

35:16

submit them as two separate

35:22

documents next ladies and gentlemen we're going to transition to the H project spons

35:29

going to give everyone a minute to take a break take a to order and then we'll transition back to the

35:36

presentation move into the project sponsor section um and I'm G to take over so

35:44

this is my my section and so the project sponsor so

35:49

this is new to our RFP this year um so the reason why the there's a project

35:56

sponsor part of the application RP this year is as required by um PUD and many

36:03

different funding sources uh under procurement every so many years usually

36:08

five sometimes three um the U you're required to do a procurement process to

36:14

just to determine if you know that are you using the federal funds um wisely

36:21

are you getting the best you know bang for your buck it's not the it's not the hudway you would say procurement

36:28

uh also our internal audit looks at our procurement process um surprisingly

36:34

people may not know this every time that we send up contracts uh every time Joey sends up contract sorry not me uh he

36:41

actually has to submit the procurement process we did for every application um even if there's lowest

36:49

$10,000 um for higher ones if it goes to city council or anything like that you have to prove that you've done

36:54

procurement we have not done procurement for our project sponsor and um in that

37:00

5e span and so that's why we're doing it this year to to be able to support um

37:06

the um selecting our um project sponsor um so that's why we're doing

37:13

that um we decided to do it at the same time so that you we could also do those

37:20

U service provide uh service activities at the same time to make it an easier

37:26

process we went through um all the activities and everything so that we don't have to duplicate um that but

37:33

wanted to just go through the application um some because there are a little bit of um nuances with the

37:41

project sponsor application um one thing that um very

37:47

specific to the project sponsor is the three activities that are

37:53

Standalone um for a project sponsor one is the administrative expense um thank

38:01

you um toana I think it was the email that came from you um finding our typo

38:07

in the RFP um the um administrative expense to

38:13

a project sponsor can be up to uh 7% of the award we estimate it to be around

38:22

$250,000 not $750,000 um so we will be that um in the

38:29

RFP and reposting the correction in the budget sheet it is correct um so there

38:35

was a typo so I appreciate you catching that um so we will correct that so that

38:41

amount is set by Hud um it cannot go over that 7% so we will allow the

38:48

project sponsor to request up to that 7% and then um divide how you want to do

38:56

that in the budget she and the eligible activities the budget sheet gives you all the activities to separate that um

39:04

we also then are asking like a team mentioned that the project sponsor oversees the tenant based rental

39:11

assistance activities on behalf of the 11 communities uh we like that stationed

39:16

at the project sponsor level um right now instead of at the individual um

39:22

agencies um so we're requesting that the project sponsor continues to do that as well as provide the Supportive Services

39:30

connected to that tbra um um household so doing all of that on behalf of the 11

39:38

counties as well as the resource ID so in your project sponsor act uh

39:43

application you will be providing um a budget for those three activities with

39:50

the exception of the case management which it goes in the service provider um

39:56

application but when you're completing your project sponsor activity you're going to see the

40:02

questions are worded most of them are worded as as the project sponsor so what

40:09

we're looking for in a project sponsor is not an agency when you're when we

40:15

look at um service providers we're looking at service providers as how

40:20

does ABC agency serve a client right they provide case management they

40:27

provide strum you but from a project sponsor we're looking for a project sponsor is how does the project sponsor

40:34

serve 11 counties um how do they serve every the

40:42

agencies and then also how do they serve um households when an agency is not in

40:49

that room so doing all of those things as if they were in the city of

40:55

Charlotte um administrating ly reporting also so the project sponsor we're asking

41:01

them to um Step Up an additional level than a Ser uh service provider and just

41:08

looking at all the services and ser uh everything they do with a different

41:14

lens um not as an agency so they're almost taking um themselves out of an

41:20

agency out of their agency role and putting themselves as um

41:28

just um an um as an umbrella we'll say this we want this project sponsor to be

41:34

an umbrella over the all the agencies and all the 11 counties um so every

41:41

everything that is done as a project sponsor and administering the H program with that lens so when you're looking at

41:48

the questions in the application for the project sponsor every question unless it

41:54

says differently like for tbra and um resource ID is to be answered with that

42:02

lens um so we tried to specify that in the questions so that you would uh keep

42:09

that lens of how we want to see how you would be doing that um and in the budget

42:15

sheet then then we also um made sure that only the budget sheet is addressed to the eligible activities that we will

42:22

be asking the project sponsor to be doing on behalf of the city of Charlotte

42:27

um and I think I think that's it about the application

42:34

we okay so I already went over but here's the budget we gave we made sure

42:39

to put the 7% up there so you would see the 250 and the eligible activities um for U resource ID we've

42:47

listed the eligible activities um tenant Bas rental assistance once again it's um

42:53

their security deposit you will see here because under tenant Bas r assistance you can do it under um tenant basal

43:00

assistance although I think um it may be doing you can do it under PHP as well so

43:06

depending on how you want to do that and then um and then um we talked about um toan I

43:15

believe you asked the question about facility based housing because that's currently

43:21

activities um you have about how that would need to go on that other application as well

43:28

okay I think what's the next one oh questions and I went through that really

43:35

fast sorry I talk way faster than a u I have a question yeah is there a list

43:41

somewhere of all of the service providers that are currently getting hular funding for all the 11 counties is

43:48

it on your website that's something I can find it is not but it can be provided okay I would just since I'm new

43:55

to the game be curious to see who who being provided what agencies are

44:00

getting money um and what counties they're serving just do you have that list the

44:08

resource we can send you the res great thank you do you want me to send you

44:13

any okay thank you

44:20

questions yes I have a question okay so so um you said earlier that if you are a

44:30

project sponsor also doing program Services you have to submit basically

44:35

two separate applications you want um so there's never a place where you would

44:40

like to see the full budget of all services together you you want everything kept

44:46

separate yes because they're going to be viewed as two separate applications um because we're

44:53

asking um the only overlap is the case management for

44:58

tbra um for the project sponsor everything else because you're providing

45:04

Gap services like um maybe Case Management Mental Health Services um

45:11

shumu shumu would be a gap service his is a gap service um PHT may be a gap

45:19

Services that's why we want it as a separate um and then all the questions

45:24

are as a provider not as project sponsor so we'll put the budgets together with

45:30

with the Review Committee um or as a city when we're putting these together for a Review Committee okay thank

45:38

you and if we have questions we'll come back before the Review

45:47

Committee so also in Rebecca and this was one of the questions that I sent so

45:53

this particular um award is only going to be for one year for the project sponsors is that correct so this

45:59

application will be something that we would now need to submit

46:05

yearly for this year it's going to be one year we'll determine um next year if

46:10

it's going to just be um renewal that the

46:16

right Ren a renewal contract or if it'll be done yearly um that will be done

46:22

outside um of this that may be part of procurement making that decision

46:27

um or how I don't know for next year how it will look okay thank

46:39

you other

46:46

questions that means you did good that means you did good work we will be

46:53

posting um the PowerPoint online we will be posting the um recording

47:01

thank you U recording online and then we will answer some of these um questions

47:08

that we had we will include them in the question Q&A um if and send out um what

47:15

we already got asked today um and so these are to be submitted to AEM as a PDF right so it's

47:24

not going through any kind of electronic system okay

47:36

right anything

47:42

else all right well um um submit questions online or not to a um and we

47:49

will answer them and thank you for wow we did great on time too

47:58

thank you thank you thank you all thank you have a nice day

0:02 And we're going to talk through it.

0:04 There is not a lot of changes for this round.

0:08 So it's going to be very similar, almost exactly identical to the to the summer round.

0:19 So we we will go through that information.

0:23 We'll give you a just a few minutes to answer questions at the end and then Michael will talk about you know opportunities to ask other questions as you go through the the process.

0:35 So let me introduce who is on the call.

0:41 Many of you have already met Michael Englehart.

0:45 Michael is our new Housing Trust fund manager.

0:49 It's been fantastic having him on the team and you know now with this being his second RFP, we're gonna call him a seasoned Housing Trust fund manager at this point.

1:03 Also on the call and if you have any technical issues, is Janine Simmons.

1:09 She's our housing administrative support person and she's fantastic.

1:14 So if if something's going wrong and you you can't figure it out, you can please either chat with her through teams or you can call her.

1:24 And Janine's number is 704336 5860, so 704-336-5860 and she'll try to help you out with your technical issues.

1:38 If you are unable to connect or hear very well or ask a question, this is being recorded.

1:45 It will be posted at the end of the week and you'll be able to directly ask questions.

1:51 So that's, that is Michael and that is Janine who will also I believe have Brent Wilkinson with Planning joining us.

2:04 I don't see him on the call yet, but if he does, if he is able to join us, he's going to talk to you a little bit about the work from the planning perspective and not speaking today, but joining us and you may receive emails or phone calls from her later on.

2:20 We're very excited that Ruth Apolito has joined our team as a Housing Projects Manager working with Michael and I in the Houses Services group trying to provide you enhanced customer service.

2:37 As our load of projects that we are working on seems to continue to increase.

2:44 I think that that's all of my announcements.

2:46 So I'm going to go on mute and go off camera and let Michael walk through the RFP, take it away, Michael.

2:55 Thanks Warren, and thanks everybody for being here today.

2:57 I know several of you are traveling for conferences and are probably tired of hearing people speak.

3:01 So I'll try to keep this pretty pretty short and brief so we can spend most of our time with questions and answers if there are any.

3:08 But just a little background about the Housing Trust Fund.

3:11 The Housing Trust Fund is guided by the Housing Charlotte framework, which is built on 3 pillars, The first being to create new affordable housing, second to preserve existing affordable housing and three, creating family self-sufficiency.

3:23 And the Housing Trust Fund is probably our most powerful vehicle for accomplishing those three goals outlined in the Housing Charlotte framework.

3:32 So as many of you are probably familiar with by now especially if you've if you've gone through this process is the review process of of what that looks like.

3:40 So first we announced the RFP post that online which has been done today and we have this kick off meeting to to chat with you folks from there.

3:50 A few weeks later we will be announcing or I'm sorry not a few weeks later.

3:53 Once applications are submitted in January we will notify City Council of all applications and begin our review from their proposal.

4:02 Summaries are sent to City Council with our recommendations as well as which is then followed by the City Council action review meeting and then followed by that is the actual vote on approving those funds.

4:16 That's phase one.

4:17 Phase two is the investment review where we review the, the, the offers at hand.

4:22 Phase three, as we go through the funding piece which is typically contingent on Li Tech award if applicable, especially for those 9% awards.

4:31 And then phase four, construction and monitoring.

4:33 Once those projects are you know breaking ground.

4:40 You can see here the schedule for this winter RFP cycle.

4:44 RFP was posted this morning, November 16th.

4:47 If it hasn't shown up on your end yet just give it a few hours.

4:50 Our team is working on getting that posted.

4:53 There's going to be a new component to this cycle which we'll we'll go into but there will be a pre pre submittal meeting with the planning department and then the deadline everyone is is is interested in is the January 26th deadline for applications.

5:07 I believe that is a week after the preliminary applications are due to NCHFA.

5:13 From there our planning review period begins as well as staff review in the housing department reviewing those applications.

5:21 The City Council action review meeting where we'll be presenting proposals to step to City Council will be on April 8th and then projects will be formally approved on April 22nd.

5:33 I'm giving you a few weeks before the NCHFA final application deadline for those 9% projects and we'll come back to that schedule as well here momentarily.

5:46 But just to dive into the to the to the substance of the presentation here.

5:53 So the Housing Trust Fund was established in 2001.

5:56 As as many of you know this is funded through voter approved general obligation bonds that are done on a biannual basis.

6:03 Since 2002 we've invested over $270 million to fund over 12,000 units and shelter beds.

6:13 So eligible project projects, those are the ones that you're you're most, most of you are familiar with are these multi family new construction renovation, single family new construction as well as supportive housing renovation and new construction projects that are ineligible are basically anything not outlined in the RFP If we do not have it explicitly listed listed likely it is not eligible.

6:37 So that includes projects that are under construction, acquisitions.

6:40 If you are interested in acquisitions, please see our open NOAA RFP which is rolling and continuously accepting applications as funds are available.

6:49 And then again any project that's outside the scope of the RFP.

6:56 So what does the fund do?

6:56 It provides GAAP financing to both nonprofit and for profit developers for affordable housing throughout the city.

7:02 We offer flexible structuring to make sure that these, you know terms are are friendly to our developer partners to make sure that we're bringing this much needed project products to market.

7:13 Most critically, at least 20% of the units must be targeted to 30% Area median income households.

7:23 So the typical financing structure as most of you know this is soft financing, it's flexible subordinate loans.

7:29 We do require however a minimum of a 40 year affordability.

7:33 If you didn't participate in the most recent summer cycle that has increased by 10 years.

7:37 The previous requirement was 30 years, but I can tell you that 40 years is the new baseline and we're really excited that that the projects that we're that we're seeing recently with even extended affordability periods.

7:54 We also require a minimum debt coverage ratio of 1.15 and that service is cash flow contingent typically.

8:03 So our funding is typically for single family development, our funding is provided as a construction subsidy or down payment assistance.

8:09 The units must be deed restricted and remain affordable for no less than 15 years.

8:13 Of course we're always interested in projects that go beyond the minimum affordability periods, but for single family it is the 15 year.

8:22 We do support Land Trust or shared equity models and encourage those applications.

8:27 And we're also very supportive of developments and locations of high opportunity and or offering AD US.

8:33 There's a big initiative at the city to move forward AD US, especially in light of the UDL but in supportive housing.

8:44 So this must meet a continuum of care, recognized supportive housing need in the community whether that's homelessness, mental health justice involvement or some other form of supportive housing that you can identify.

8:55 This provides both housing and sufficient services to stabilize residents and it must be nonprofit owned and operated.

9:03 The leverage ratio is considerably lower than what's required for our other projects and that minimum ratio is going to be one to two.

9:14 So funding sources for the cycles, Housing Development Fund, as you may have noticed, we go back and forth between the Housing Trust Fund and the Housing Development Fund.

9:22 So the Housing Trust Fund is really just one component of this housing Development Fund.

9:26 And this application cycle is for the full housing Development Fund, which includes Housing Trust Fund as well as our federal sources such as CDBG funds, Home Funds or HOPWA.

9:36 We've had a few partners in the most recent cycle who were awarded HOPWA funding and we're working with them to bring those funds to fruition.

9:45 And then also I don't think we have any of our friends from the county here today, but we're also interested in piloting this local rental subsidy program and we can chat a little bit more about that perhaps at the end.

10:01 So program updates, these are current as of the most recent summer cycle.

10:06 So new construction multi family review, multi family developments will be reviewed in two tiers, right.

10:12 So there's tier one projects which are projects that meet the Tier 1 funding limit limits, which I believe are currently 38,000 per unit.

10:20 They also agree to accept or they agree to accept some or all they're awarded federal funding if they're eligible for the NCHFARPP funding, rental production program funding.

10:29 They are applying for that or developments that are located in District Six or seven.

10:34 So that's Tier 1.

10:35 Tier 2 is going to be every other project.

10:37 There's a multi family project that does not meet those tier one requirements.

10:42 Importantly, all of our project types are going to be reviewed separately.

10:45 So if you're submitting A supportive housing application that is going to be reviewed in comparison to other supportive housing applications, if you're presenting or proposing a single family development, we're going to be comparing that with other single family development projects.

11:03 So what's new in the most recent cycle as of this summer, so the new RFP and submittal structure, Warren did a great job of streamlining that application form some of you applied in the most recent summer cycle.

11:15

You have seen that it's very intuitive to use compared to our our previous format and it really walks you through step by step.

11:23 And then also there's this housing data sheet which allows you to input, you know, basic project information as well as ownership information into it.

11:31 For our ease of use, there's going to be a multi family version as well as a single family version and you'll see that clearly indicated in the RFP documents.

11:41 We also have increased CBI requirements which is going to be reflected in Section 3 point 6.7.

11:48 There are also additional city preferences.

11:49 So team forced housing, perpetual affordability and then updated geographies.

11:55 One of the things since we are able to use home funding outside of city limits, we've been partnering with the county to identify projects outside of Charlotte city limits to address this regional problem that we're we're having right.

12:08 It's recognizing that the housing price isn't just focused in the city of Charlotte.

12:12 This is a county wide and region wide challenge and we've been working successfully with some of our partners to address that through those funds that is for the home fund specifically Housing Trust funds, CDBG funds, those have to be used within city limits And then oh I'm sorry jumped ahead and then I'm not sure Warren, do you see if Brent is here.

12:37 He is so, so Brent, Brent and or NAN can come off mute.

12:42 Yeah.

12:43 And there he is and I'll, I'll I'll introduce Brent here.

12:46 So Brent is is our our planning project manager and he is going to chat through the most recent requirement which is this planning pre submittal meeting along with Nan.

12:56 We're really excited about this.

12:57 We think it'll do a, it'll do, it'll go a long way in terms of clarifying some processes.

13:02 So with that I will kick it over to Brent and Nan.

13:06 Nan, thanks for joining.

13:07 Thank you.

13:09 Oh, Brent, we can't hear you.

13:22 All right.

13:26 It shows you're still on mute.

13:28 Can you hear me now, Nan?

13:29 Now we can.

13:30 OK, great.

13:31 Sorry about that.

13:32 Yes, Thank you, Michael and Warren for the opportunity to speak.

13:37 Yeah, Nan Peterson and myself, we're part of the land development team here in planning.

13:43 Just wanted to highlight a new piece of the schedule this year that we have we think is going to be extremely helpful, which is the planning pre submittal meeting.

13:55 This meeting will be held prior to the actual HTF submittal.

14:02 We have found that with the implementation of the UDO in the last round of Housing Trust fund applications that we had a lot of questions related to the UDO.

14:15 So we feel that this process is going to help maybe answer some of those questions at a very high level.

14:20 We are still kind of working through the final details of what the meeting, how the meeting is going to function, but Nan Peterson is going to be the point of contact for those meetings to help us get those scheduled.

14:33 And then as you can see here on the schedule, the deadline to contact NAN is December the 15th and then we will hold all the meetings on Friday, January the 12th.

14:42 That's our goal depending on how many applications that we do get in.

14:48 This information is in the the packet of information that Michael has sent out.

14:54 So if you have any questions about that, feel free to reach out to Nan and myself and we'll be happy to help you with those.

15:01 But other than that, the remainder of the schedule is pretty straightforward as it has been in the past.

15:06 So that's, that's all I've got.

15:08 Nan, I don't know if you want to jump in and say anything or not, but that's all I have at this time.

15:14 No, I think, Frank, you covered it beautifully.

15:16 Thank you.

15:16 Great, thank you.

15:19 Well, thanks.

15:19 We really appreciate you guys joining us today and that is actually going to segue us into the questions and answers.

15:25 And so if any folks want to come offline, ask any questions regarding the RFP or the the new planning requirements, I'll kick it over to Warren.

15:35 It looks like, Warren, you may have something to to add.

15:38 Yeah, I'm just gonna answer 3 questions that I know are gonna be asked.

15:41 So I'm just gonna go ahead and answer them.

15:44 You know the someone's going to ask how much money is available.

15:47 Currently, the trust fund has a balance around $9 million in it.

15:53 I would, I would be surprised that if we don't that we don't if we don't exhaust that amount this round which would mean that we would most likely not have a summer FY25 round and then our next round of the trust fund would be if the voters approved bonds would be winter this time next year, so our winter FY25.

16:17 So that's one question that I I figured you'd ask so I go ahead and answer it for you.

16:22 The next one I I know you're going to ask questions about the around the rental subsidy.

16:26 You can refer to the RFP and see how it's written in there.

16:30

Again, all we're asking you for in the RFP is would you be interested slash willing and participating in a rental subsidy pilot similar to the rental subsidy pilot that we've been doing with the NOAA project.

16:46 This would be over and above the rental subsidy limits that you would put in the application.

16:54 So if you submitted 20% of your units at 30%, we would pilot this money being used to further subsidized other units to that low of a of an AMI, again as a pilot so that we can see how it works when we're doing new construction and to do the work of showing our city county leadership kind of a an innovative way to use future tax subsidies.

17:29 So that's as far as we are with it.

17:31 Again, I can't provide you any more information because we're still working on that, but it's just a check box in the actual application where you would say yes or no.

17:41 And then I just wanted to give a shout out to our planning group.

17:45 They always come off cool, calm and collected, but they are extremely busy trying to provide good customer service to all of our development partners in the city of Charlotte that are that are building under the new UDO.

17:59 And for them to take a day to reserve for our affordable housing developers is a a big hit in their time and their schedule and they're doing it because they want you to be successful.

18:09 So I didn't want to leave the call without sharing my appreciation with them in this schedule that Michael and Brent have worked out to hopefully make your processes moving projects forward even even more streamlined.

18:24 So with that, you may either chat a question or submit them into the OR or come off mute.

18:35 And I already saw a a question over in the chat, so let me take a look at that.

18:44 So I think that this is going to be a question to Brent and or NAN.

18:50

The question is do we need to have a fully designed site plan for the pre submittal Q&A meeting with planning staff or is it more of a conceptual draft site plan?

19:03 Yeah, Thanks Warren.

19:04 Yeah.

19:04 So our thought is it's going to be a sketch plan level, site plan.

19:12 Don't need to have all the details worked out, but the more information you can provide to us, the better.

19:18 But we will ask for that sketch plan when the meeting is scheduled.

19:23 So there will need to be something that we need that we can respond to.

19:27 So great, I hope that answers the question.

19:29 But yeah, sketch plan level is what we're looking for.

19:32 Good question.

19:33 If you need more specifics, just e-mail Michael and we'll get you information.

19:40 Another question was I'm on the City of Charlotte's trust fund site.

19:44 I can't find the application.

19:46 Michael and or Janine, would you just go out to the website and drop the RFP into the chat and we'll get that to you?

19:54 The next question is will you be looking at 4% development applications?

19:59 But, you know, we had this conversation.

20:02 Internally it's we're we're leaving it open to all all comers.

20:07 We've seen some very competitive 4% applications recently.

20:11 So yes, we will, we will.

20:15 We we used to do it where only 9% would come in the winter.

20:19 We are going to allow anyone who has a project that they'd like to be reviewed to go ahead and submit it.

20:28 Great questions.

20:37 The question is, the next question is, so if the development is applying for RPP then they would automatically be considered into a into for a Tier 1 review.

20:46 Michael, I believe that our answer to that is yes, that that is one of the qualifiers that moves us up into tier one.

20:53 That's right.

20:53 Yeah.

20:53 So it's one of the, you know, I can go back to the the tier listings here.

20:58 So yes, any that are eligible and apply for NCHFARPP funding, Correct, Right.

21:09 Going to give it just another few minutes for questions.

21:12 Again, Michael, go ahead and bring your contact information up.

21:19 Yeah, absolutely.

21:23 So there's Michael's information.

21:27 Again, this is, this is your first opportunity and not nearly your last opportunity to ask questions.

21:33 So go ahead and take down Michael's information and and shoot him an e-mail.

21:38 As you're looking at the application, I'm sure you'll have additional questions.

21:44 And you know, we're also happy to schedule a 30 minute call or teams with any development partner to talk through their project to make sure that you have the information that you need to provide a very competitive proposal.

22:01 So I think with that I'm gonna go ahead and conclude this one.

22:06 One more second, did someone come off, you didn't wanna ask another question?

22:11 OK.

22:11 I just want to conclude this by saying affordable housing continues to be a top priority for our city leadership and the only way that happens is with you.

22:23 It is our goal to make your process working with us as as streamlined and easy as possible so that you can continue doing the great work that you do and that we're really appreciative of all of our development partners.

22:38 So we're going to end it with the webinar now.

22:41

Thank you for your time and again, we're really excited about seeing what proposals you submit for the winter Talk to you soon.

22:50 Thanks everybody.

0:00

all right well good morning everyone um thanks for joining us I apologize the

0:06

um meeting notification came out uh last minute um it's been a it's been a world wood

0:13

summer with uh with zelica retiring and so it was good to see so many of you at zelica's retirement party

0:20

um so please please bear with me and offer me some Grace as we transition uh

0:27

the Housing Trust Fund program it's a great program I think that we have a great future

0:33

um and uh you all are a big part of that so I appreciate um all of the the warm wishes that

0:39

zelica received and I received and um yeah it's been a it's been an exciting

0:45

time and and uh I don't know about you I I will I will miss zelica being at the helm of this

0:51

um but we have some uh some great new uh talent that I'm getting ready to introduce you uh too

0:59

um so just uh housekeeping um on the line I have Kate Caton in my

1:06

office she's helping with technical stuff this morning um her email is catherine.katon at

1:13

charlatansi.gov you can also message her if your messaging is working um on here if you have anything

1:19

technical it's a do you need help with she will try to help you we are also

1:25

recording this entire webinar and we will have it formatted and I hopefully posted no later than tomorrow back out

1:32

where the application um is I will be doing uh taking questions and

1:39

hopefully providing answers at the end of this we have video turned off for the

1:44

participants just to have a cleaner webinar experience but audio and chat

1:51

both work we're just going to keep you muted until the end of the presentation

1:56

if you can hold your questions till the end of the presentation that will just

2:01

allow us to have again a cleaner webinar experience for people who view it once we post it so if you have a question and

2:09

you don't want to forget it go ahead and enter into the chat while I'm talking and Kate's going to help me

2:15

um take care of those so our agenda for tomorrow for this

2:23

morning is uh just some brief introductions we're going to talk about

2:28

the the process for applying for Housing Development funds and the schedule

2:36

um then we're going to go into the funds that are available the eligible activities and go over some of the items

2:44

that have changed some of that is from is is holdovers from last RFP and

2:50

there's a couple of new things in this RFP um that all should be short and we

2:56

should have plenty of times for plenty of time for questions at the end of uh

3:01

the presentation so let's just go ahead and get started

3:08

so so background the trust fund has been operating in Charlotte for 20 years in 2021 we

3:16

celebrated our 20-year anniversary with funding over 11 000 units so again I see

3:23

lots of long-time Partners on the call this morning and just want you to know

3:29

that the city city staff and elective officials recognize that we couldn't do any of this without your partnership so

3:36

we really appreciate you partnering with us to develop affordable housing for this community

3:42

um all of our activity around housing is based on a framework that was passed by

3:47

Council in 2018 that includes creating new affordable housing preserving existing affordable housing

3:55

and working with families to create self-sufficiency so you'll see that those guiding principles are all

4:01

throughout the work that we do and this RFP so this process hasn't changed I'm going

4:09

to go through it quickly because a lot of you know it better than I do but our process for providing Gap

4:17

financing for affordable housing development starts with the issue of the RFP that was done a week ago

4:24

um the next thing that will happen and this is something that you don't see but once

4:30

we the application period closes we send a notification to Council of what we've

4:36

received the staff then reviews it and then we send a summary that Council

4:42

receives shortly before the first action review the council will then review and ask

4:49

questions about the proposals and staff recommendations at the action review and

4:54

then typically at the following business meeting they will vote to approve

4:59

the funding that they they choose to approve once that approval takes place

5:08

we will go through an investment review and assign work out to our Council and

5:14

then work with your Council and our Council to close that and then finally we will

5:20

um um monitor the construction of the process

5:26

through Co and then your project is transferred over to our asset management part department for ongoing uh

5:36

monitoring of the affordability requirements here's the schedule for this RFP this is

5:43

basically a cut and paste directly from the RFP document um

5:49

gotten a lot of comments that this was a very quick turnaround on this one and I

5:54

I do recognize that it is and I apologize for that due to the workload

6:00

going on in planning right now and especially with the updates to the Udo

6:05

um they they ask for additional time to review projects so that is largely

6:11

related to this schedule so we can talk about that if you have

6:16

questions about that I've received a lot of questions via email related to schedule and when we have to have things

6:22

done so well we've transitioned the name of this

6:28

from the Housing Trust Fund to Housing Development funding because the Housing Trust Fund is just one funding source

6:35

that we are attempting to use to leverage to create affordable housing in

6:41

um the community however it is the largest source of funds and as I stated earlier it was established in 2001.

6:49

um we've we've got a little bit more than uh 260 million dollars of Investments out on the street and we're

6:55

over 12 000 units I stated that wrong earlier but but at this point we're over 12 000 units in shelter beds that we've

7:01

created um in the last 20 plus years

7:06

in this RFP um uh what you can apply for from our in

7:12

rfps changes from RFP to RFP um we are we're hoping to have a winter

7:17

round but in that winter round we're anticipating that only nine percent tax credit projects will be eligible for Gap

7:24

funding this is a much wider RFP so you can apply for multi-family new

7:29

construction or renovation a single family new construction and Supportive Housing renovation and new construction

7:37

um not eligible under this RFP are projects under that are currently under

7:43

construction and this was something that came out of council conversations over the last RFP

7:49

an acquisition or an acquisition renovation we have an open NOAA RFP that

7:55

addresses these so if you have a NOAA project that you're interested in please take a look at the no RFP and please

8:03

email me any questions you have about that and then um just as a catch-all any

8:08

project outside the scope of the RFP so if it's not specifically listed in the RFP it's probably not eligible but if

8:15

you have something that you think is eligible but you don't see it in the RFP would you please email me and let me

8:21

know so I can give you an answer on that and you don't do a lot of work uh to submit a proposal that will end up

8:28

deeming ineligible so multi-family Housing Development many

8:35

of you on this call are multi-family housing developers this is probably what you're interested in

8:40

not a lot on this slide has changed we work with the for-profit and non-profit developers we have offer flexible

8:47

funding structures the council does require that 20 percent of the units be targeted at 30 percent

8:53

or below Ami that is an um a a long-term item that we've had for

9:00

several years and has not changed typical financing structure it's soft

9:06

financing um one change is is that we're requiring

9:12

a minimum level 40-year affordability uh most of you are already meeting this

9:18

requirement and it was a it was a preference in past rfps but because so many people are able

9:25

to bring a 40-year commitment to the table we just moved it into a requirement for this RF uh for this

9:32

request for proposals minimum debt coverage ratio hasn't

9:37

changed it's a 1.15 and then these loans are going to be cash flow contingent

9:42

loans single family the funding can be provided as a

9:49

construction subsidy or down or down payment assistance it must have an affordability period of

9:55

no longer or or no shorter than 15 years but we're looking for longer periods of

10:01

our of affordability we encourage land trust and shared Equity models that can

10:07

extend affordability and there's a lot of interest around seeing if our single family developers

10:14

can provide any type of Adu programming it's something that the city has been looking at for some time and it's also

10:21

something that you'll notice in the Udo the restrictions on UD on Adu development were brought in so that it

10:29

will be easier for developers to provide adus as part of their development in the

10:35

future Supportive Housing is also an eligible

10:40

activity under this RFP uh we're looking for projects that meet

10:48

the need of a COC recognized housing need those include homelessness mental

10:54

health Justice involvement that's not the entire list if you're looking to do a Supportive Housing project and you

11:01

have a question around eligibility please let me know when we underwrite

11:08

these projects we're looking at both the housing and the services to make sure that they're sufficient to stabilize the

11:15

targeted population these projects do need to be owned and

11:20

operated by non-profit organizations and a minimum leverage requirement for

11:26

receiving funding in this category is one to two and we do look for higher leverage ratios here

11:35

funding sources you all are very familiar with the

11:40

Housing Trust Fund also included in this RFP is the possibility of receiving cdbg

11:46

funding home funding and Hospital funding and you can see more about that

11:52

in the RFP if you're able to receive

11:58

this type of funding and want to request it you can check that in the application it is one of the preferences and so it

12:05

will reflect in the ranking of your application and then I've had questions about well

12:10

if I check that then what what funding will I receive well we

12:16

will work with you we will not assign funding to you that that we haven't discussed with you and you understand

12:21

the implications of receiving that that funding uh but because each of your development is unique in each of these

12:28

funding types is unique um that'll be a conversation that we have um once we receive those applications

12:34

and if you have any questions about these funding types and what their implications are you can please reach out to me directly and we can have a

12:41

conversation about that something new that I've received several questions about is this local rental subsidy pilot

12:48

program the city and the county are continuing to look in uh for ways that

12:53

we can better partner together on projects and so this is a first stab at

12:58

extending uh the rental subsidy that we do with NOAA projects to see if it may

13:04

work in other types of situations here we're really looking at the multi-family

13:10

new construction projects this will be over and above commitments

13:16

that you uh commit to in your in your

13:22

proposal I've had several requests about well I need to know more about this

13:27

um because I need to know how to underwrite it that's not what we're looking for here we want you to

13:33

underwrite the projects that you're proposing based on the funding sources that you see eligible above not on a

13:40

rental subsidy pilot if you check that you're interested in this what it would do is perhaps create an opportunity for

13:48

for the further subsidizing the development so say you have 20 units of 30 percent we

13:56

may come to you and work with you on this subsidy to see if we can create 10 more units at 30 percent over above what

14:02

you're already committing we're doing it this way because we've never tried this before and so we really need to get both

14:11

the city and county on the same page and come up with with projects that are interested in pursuing this so that we

14:18

can pilot this approach here with the goal of in the future having it as a as

14:24

an underwritable funding option for you moving forward we're not there yet this

14:30

is just our first uh dip in our toe in the pool to see if we can do it so if you if you're interested in that you

14:35

have more questions you can reach out um reach out to me but we're not going to

14:40

be able to give you lots of answers because we're basically going to build this bike as we're riding it so we're just looking for people who may be

14:46

interested in in uh being a guinea pig with us uh to see if we could bring something to council that's you that's

14:53

new and Innovative and increases affordability in the community so I've got two slides here about things

15:02

that have changed through the RFP process the first one is really some that came

15:08

from the last RFP so if you this is really a slide that I pulled from the last RFP and the next one is some some

15:14

more new stuff but in case you were you weren't on the last caller you didn't participate in the last round we've

15:20

moved to a two-tier review process you'll see under uh review and this is

15:26

really focused on the multi-family new construction and renovation projects that to get reviewed in the first round

15:33

you've got to meet a a tier one requirement so there's some funding

15:38

limit limits and there's been have been slightly increased in this round um if you if you have to request more

15:45

than those funding a minute uh limits but you're willing to accept some role the award in one of the federal funding

15:51

sources uh if you select that that would get you into tier one um if you're plot applying for RPP

15:58

funding that will also get you into tier one or if you're proposing a project that's in District six or seven that

16:04

will also get you into tier one so those projects will be reviewed first um and uh then projects that don't meet

16:11

any of those requirements would then be reviewed in a second round of reviews uh and then the project types again are

16:18

reviewed separately so we separate out the applications for multi-family new

16:24

construction for Supportive Housing and for single family and those are those are reviewed in in recommended

16:30

independently from one another uh so what's new um there are some new things and uh

16:37

again I appreciate not only are we transitioning staff but I basically rewrote a lot of the sections of the RFP

16:44

to try to bring it in line with rfps that are put out by the rest of the city the city uh to make it kind of look like

16:52

other things that we do so many of you have pointed out some discrepancies in

16:59

the in the document that I'm working on and fixing and will a lot of it is minor

17:05

so so if you have any questions about uh the RP itself please send those to me

17:10

but also know that an updated copy correcting a lot of the some of those inconsistencies is in development and

17:17

I'll have it posted um so I'm going to show you two two new

17:24

documents and again um some of this goes to our commitment to try to streamline the process

17:30

hopefully uh some of the work that we're doing you'll find helpful in terms of lowering lowering the amount of time

17:37

that you have to put into preparing a submittal for us so I'm going to show you those two doc

17:43

new documents here in a second um there are increased CBI requirements so

17:49

this is a council directive and they want to see more minority and

17:55

disadvantaged business participation so please take a look at that it's not much higher than it's been in the in the past

18:02

um but several of our Council people are very serious about the inclusion of

18:08

disadvantaged businesses in the development of affordable housing so please note that section there's some

18:15

additional City preferences that we're rolling out one is this concept of Team Force housing and then we're also asking

18:23

for um looking at longer affordability periods into Perpetual affordability

18:30

those aren't requirements but your application will fare well the longer of

18:35

affordability period that you can propose and we've also updated the geographies you'll you'll notice that

18:41

one thing that's much different about this RFP is that you can actually apply for funding outside to the city limits

18:48

if you do so that will most likely be home funds so so be aware of that

18:53

funding sources such as cdbg and the Housing Trust Fund are legally required

18:59

to be spent with inside the city limits but home funds are actually County Wide so this is another way that the city and

19:05

the county are trying to partner together and recognize that affordable housing is not a city of Charlotte issue

19:11

but it's actually a regional issue that we need Regional solutions for um

19:17

and then there's also some preferences for using the udl the Udo was passed

19:22

this uh this last Council session and was uh went active in in June

19:31

um so there are some benefits there if you have questions about that you can reach out to me I can provide you a

19:38

draft manual I don't know if that manual is yet posted to the website but there's address draft manual on how you request

19:44

the Udo bonuses what you have to provide and the benefits that you receive some

19:51

of that is is much more focused towards um market rate developers asking them to

19:58

add a little affordable to their projects but there are several Provisions in there that are actually specifically targeted towards affordable

20:05

housing developers and that we hope that provides some benefit to you going forward

20:12

um so the two of the bigger changes and you'll see in the RFP I took a a clip

20:17

from our website are these two documents um

20:23

one called the application which is a Word document and the other one that is called a data sheet which is an Excel

20:29

document and we're asking that you return the Excel document to us and in

20:35

Excel format and uh you can return uh the uh the word document to us in a Word

20:42

document or a PDF I think that the RFP says to go ahead and convert it over into a PDF I am going to try to show you

20:51

these documents so please bear with me if um if this works and then Kate would you

21:00

just give me a thumbs up that I got stuff to come up on the on the screen so hopefully now you can see

21:07

um yeah a Word document thank you Kate um and uh

21:13

what we're asking you to do and what you'll find in this word document is a lot of the questions that we've always

21:18

asked you and we're just asking you to fill in the highlighted blue areas with

21:25

your responses you can type as much as you want you can answer a question uh

21:31

10. it looks like we have two questions in so I'll fix that you can you can answer question 10 in a paragraph or you

21:39

can take three pages just allow the document to continue to scroll down hopefully this will help you because

21:45

we're going to try to make as little changes to this document in the future so our hope is that you'll be able to

21:52

pull it from one document to another and if you answer it one time and nothing changes that you can just cut and paste

21:57

your answer and and we'll receive it again you will also see in the future

22:03

that if you apply for a project in one funding round and we ask you for documents that don't change going into

22:10

the next funding round will allow you to tell us that those documents didn't change and we can pull it from your

22:16

previous application so you don't have to submit it again so hopefully that will help in terms of streamlining our

22:22

application process so all we're doing here is asking you to answer these

22:27

questions don't change the formatting just answer right in these boxes and

22:32

that'll just allow us to answer these questions or answer respond to you more

22:38

quickly and hopefully get our staff more quickly reviewing your your projects

22:46

same with the Excel document and then as you're doing this if you find errors

22:52

please I know there's errors in these documents um uh so please let me know and if you

22:58

have any questions on how you should answer some of these questions you can also reach out as well one of the

23:03

challenges that we're working through is um we think it's very beneficial to do a very broad RF piece because so that very

23:10

various types of projects can all apply and come at the same time and Council can review them all at the same time but

23:17

we also know that applying for a Supportive Housing project is very different than applying for for a

23:23

multi-family housing project is very different than applying for a single family housing project

23:29

so please please offer me any feedback that you have on these documents it will

23:35

always be appreciated and we'll do our best to make updates and get them back to you so the documents work even better

23:42

than next time that you receive them um I think that that's all that we have

23:48

here this booklet is just for Supportive Housing and for

23:54

multi-family housing there's another booklet Excel workbook for single family

23:59

housing so if you're proposing a single family housing project you won't be proposing what I have using what I have

24:05

up on the screen right now you'll be using uh the document called single family uh workbook for the

24:12

summer of 24. so I'm going to stop sharing this and try to get back over to our presentation

24:20

so before I uh open it up um for

24:26

um for questions and you can enter those questions in the chat or you can come

24:33

off mute um I I actually rearranged and I saved

24:39

introductions till the end I think everyone knows me my name is Warren Wooten I'm the assistant director for affordable housing for the city of

24:45

Charlotte I've been with the city for about 10 years my information is up on

24:53

the website some of you have commented that I stopped answering the phone

24:58

that's because we have been displaced out of our offices for several months I now have that fixed so I now have this

25:05

phone number with me when I'm at work and you can reach me at this this number and my email address has not changed but

25:14

I'm I am very uh elated and relieved to introduce Michael ingleheart

25:21

Michael is on day three as our new Housing Trust fund manager so I very

25:30

thankfully have also put his name and contact information up on the site

25:36

Michael and I will be tag teaming this round but when it comes to the next

25:41

round and also uh closing uh Michael will be your point of contact with the

25:49

city Michael comes to us um from uh Oblivion when where he was one of his

25:54

their senior development managers uh and before that he has both experience in

26:01

the non-profit development space and also in higher education so we're very

26:06

excited I think no one more than me to have Michael with us and I don't know that we've even gotten

26:14

him a headset yet so Michael if you can come off mute and say hello please do so and if not don't worry about it uh

26:21

because I know that we were looking for a headset for you yesterday no no I appreciate that Warren and uh thanks for

26:27

um thanks for being here today everybody uh it's really it's a real honor to step into this role and and take over for

26:33

someone as uh Monumental as zelica so I'm well aware of how big the shoes are that I have to fill but yeah really

26:40

excited to work with all of you and I apologize that my camera is not working I will figure that out on day four I

26:45

hope thanks Michael I appreciate it all right um I know that there's questions because

26:52

I have received lots of emails um so I've answered some of your questions but

26:58

um this is now the time where you're able to either come off mute or put a

27:04

question into the chat and I will do my best to answer it or uh tell you that I

27:10

don't know and I'll get you an answer and post that to the website so if you if you have a question please come off

27:18

mute I'll give folks a minute or two to start doing that and then if no one has

27:23

any questions we will we will end the webinar so

27:28

um shoot what questions do you have hey Warren this is Robin haddock I have

27:34

a follow-up question to something I emailed you earlier but um the Outreach and marketing plan I know that's a

27:41

separate plan about how you're going to reach out to potential residents and applicants once the property is built

27:47

but is that a separate document or is that just responding to that question under the property management section in

27:54

the um the word application form um we would when you get monitored

28:01

um after it's built um our um our our team will ask you for an

28:09

Outreach and marketing plan so it could be the same information but we're going to want you to attach that as a separate

28:16

document and I do ER and I'll just I'll expand on that a little bit

28:22

um I I recognized that in the RFP um there is some confusion

28:28

um because I made it confusing between um your Outreach efforts for

28:34

communicating to the community that you're proposing to the development and then your Outreach efforts for

28:40

um um for renting out or um utilizing the development that you

28:47

build those are two separate and distinct uh documents that require two

28:52

separate and distinct um responses and uh in a in an effort to

28:58

be um as as brief as possible I think I conflated that in one area of the RFP so

29:04

we are expecting two things one for you to respond to the Outreach efforts which

29:09

is one community meeting with some advertising requirements

29:15

um using some City resources that you can you can access online and then your

29:21

standard Outreach and marketing plan and I believe that if you're a pro uh proposing uh um a tax credit related

29:28

project that's a requirement that you're going to pull over from there anyways but thank you Robin that's a good

29:33

clarification a good question any other questions all right well that means I either did

29:40

an excellent job or a terrible job and I'm going to be positive this morning and say that

29:45

um that the the new RFP has been well received and everyone is is working through it

29:51

um as well as as they can um both Michael and I are available you

29:56

have our email addresses and our phone numbers um up on the website so please go ahead and take

30:03

a picture of that and then again this webinar will be posted

30:08

um if not later on today tomorrow and we will circulate it once it's um

30:14

once it's posted so um again I thank everyone for attending I do realize it was a short notice on

30:21

this one and we are going to post it to the website and with Michael on board we're going to have

30:28

some some really well planned uh rounds in the future

30:33

and I'm really looking forward to it I believe that we have a lot of potential in this city and that with your help

30:39

we're going to have some great affordable housing assets coming off the ground due to the work that we're doing today

30:46

so thanks again for everyone attending um appreciate your time and look forward

30:51

to hearing from you and receiving your proposals

0:03

great well welcome everyone um appreciate everyone taking a few minutes out of the out of the day for uh

0:09

this developer meeting kicking off uh the city's winter Housing Trust Fund around

0:15

um so I'm going to introduce um the panelists that are in the room

0:21

um from the city side and then I'm going to kick it over to Rusty Mills to enter to

0:26

introduce the staff from Lisk that are joining us today

0:31

um Harold Thompson is one of our senior Communications people his email address

0:36

is in the chat so if you have any technical issues please reach out to Harold and he's going to help us with

0:43

that and then uh we are going to do a written q a at the end of the presentation so there's a q a box in the

0:51

screen and you can submit those questions you

0:56

can also email your questions because I see a lot of people have called in you can email your questions to Harold's

1:02

email address and he will give us those questions when we get to the end of the

1:08

presentation so um again thank you for being here and my name is Warren Wooten I'm the assistant

1:14

director for affordable housing for the city and I'll be doing the presentation of the development funds from the city

1:21

Side in this presentation I want to introduce I already introduced Harold Thompson who is one of our senior

1:27

Communications people and is going to be helping us with communication and Technical uh any kind of technical

1:32

issues during the the presentation uh Pam Alexander is on the line Pam

1:40

Alexander is in our compliance group and uh just wanted her to be on uh because

1:45

we will do have some discussions about federal funds today if you have any questions around

1:51

um environmental or federal compliance we have Pam on the line with us today and of course everyone knows uh Miss

1:58

zelica Biermann who is our Housing Trust fund manager she's on to help with questions today and

2:05

um lastly but definitely not least Sean Heath who is our director of Housing and

2:13

Neighborhood Services is online to assist with any questions that we might have today

2:19

um Rusty I'll I'll kick it to you to introduce your team

2:25

thanks Warren from the risk side we have

2:31

uh Tiffany Durr who's our director and our funds team

2:36

as well as I see Ralph being this in and out ralphian Caldwell's executive director for our local list Charlotte

2:41

office here so she will be uh joining us as well and I think that's it from our

2:47

side great uh well let's let's get started then

2:56

so our agenda today uh we've just completed item one uh welcome in uh

3:02

introductions uh I'm gonna run through the housing development side from the city in terms of our funding opportunity

3:09

becoming available um our RFP documents will all post on Friday on our website and zelica will

3:16

send out a notification when that is posted in the link that you can get at all of the documents

3:22

um and Rusty will be presenting from lisk's side uh we'll go through the

3:27

schedule and then again we'll be taking questions um via email or or chat during this

3:35

webinar we will also be taking questions for the first week that the RFP is open

3:42

and um we will be posting all of the answers to

3:48

those those questions back onto the website so that everyone has the same information so if you don't get your

3:54

question answered today um don't don't worry about that um we're hopeful that lots of those

3:59

questions will be answered by the RFP and if not you can send a question in through the 20th and we'll have that

4:05

scheduled for you um let's let's keep going here so

4:11

um many of you know that we operate following the city's adopted housing

4:16

framework which um which emphasizes creating new affordable housing

4:23

preserving existing affordable housing and creating opportunities for family

4:29

self-sufficiency here in the queen setting

4:35

so the Housing Development Fund that funds the Housing Trust Fund as many of you know was established in 2001

4:43

it is funded by annually through Geo bonds that the voters approved since

4:49

2002 uh the city has made over 260 million

4:54

dollars of Investments which have resulted in over 12 000 units of

5:00

affordable housing here in the city oh

5:05

our funding is a flexible fund and can be applied to by both for-profit and non-profit developers we offer very

5:13

flexible structuring and there is the requirement that at

5:18

least 20 percent of the units develop through the trust fund funding uh be targeted to households at 30 percent of

5:25

Ami or below the typical structure is a soft a soft

5:33

financing with a 20-year cash flow contingent loan with a minimum debt coverage of 1.15

5:42

and um service payment that accrue through your cash flow contingent and it's a

5:49

subordinate and subordinate debt uh to your primary debt stack

5:55

I'm not going to read through all of this we're often asked well how do you evaluate the proposals

6:02

will evaluate them from these categories all of this goes into our review we see

6:10

how closely your proposal aligns with Council priorities and policies what is

6:16

the specific strength of the development and what is the strength of the developer

6:23

um as as funding gets tighter um how well your funding or your

6:29

requested funding from the city Leverage is other funding that you're bringing to the table is becoming increasingly

6:35

important um and then we we look at the proposed site

6:41

um on here it says that you must convene at least two meetings that's a change that you're going to see in the RFP

6:49

um we've heard you and we're going to take that down to one meeting if you're not already required to do a meeting for

6:55

rezoning so if you're bringing a site that's buy right you only need to hold one community meeting if you're rezoning

7:03

the rezoning meetings that you're already required to hold are sufficient for the hcf purposes

7:12

here's the um here's the kind of the review process

7:18

um city the city and lisp will issue their rfps um and then we will receive uh those

7:26

notifications that you've been uh that you've received those we will have a portal set up this time so you'll you

7:32

will not be emailing any documents and you will be posting your documents through a portal that we've established

7:39

um we will then review your responses the staff will review them and we will

7:44

put those summaries and make a recommendation to council the council will have two opportunities

7:51

to review your proposals first in an action review meeting and then at a

7:57

final vote within approved funding none of that's changed in previous rounds

8:03

um once once it's approved uh then we'll have an investment review period

8:09

which will result in a commitment letter we'll then go through loan closing with you and then our final phase will be

8:16

monitoring the construction of your development

8:22

um here's all of the information that you'll most likely uh by most interesting

8:30

um as with the last round a homeownership component has been

8:35

included in this round in response to council's desire to see more homeownership opportunities in the city

8:43

um as legal fees have gone up we're asking the developers to absorb up to 25

8:49

000 in legal fees on the city's side so that we can continue to have a sustainable program

8:55

we're continuing with an asset management fee of 50 a unit per year

9:00

that will escalate it three percent um at at least 10 percent of the 20

9:08

percent of the units um targeted to 30 percent must be run into the voucher holders we're

9:14

continuing to have a short supply of units that we have lots of vouchers available for in Charlotte and we need

9:20

to find units to get those folks into uh knew this round uh this

9:26

this last July Council passed source of income protections we have a website set

9:32

up now um for source of income protections and showing you what you need to comply with

9:38

but any development that comes to the trust fund or really receives any City

9:43

assistance and development now must comply with the source of income protection policy that passed by city

9:50

council you must use the Acela planning software to submit your sketch plans we'll have

9:57

planning staff that can assist you with that um

10:03

the one of the the new changes is that Federal home and cdbg funds will be also

10:10

will also be available along with the show funds during this investment round and there'll you'll see a new question

10:16

in your application that asks if you're able to accept federal funds as part or

10:23

all of your um of your requests for funding through

10:28

this RFP uh we received some some really good

10:35

feedback from our home ownership developers our last RP RFP was not very

10:42

conducive for those types of developments so you'll see that we've made some changes in this RFP a new

10:49

checklist list or documents middle that's much more closely aligned with

10:54

homeownership projects than our regular checklist and then a new workbook that

11:00

will replace the rental pro forma for you to fill out that gives us the information that we need to make

11:07

decisions but again as much more conducive to your project

11:13

um the funding commitments will also be quite a bit more firm than they have

11:19

been in the past this is because we need to move hcf funds out to projects as

11:26

expeditiously as possible uh so that we don't have a lot of funding sitting on

11:32

the city Side we want to move our hdf to projects quickly so your ability to

11:37

bring those projects to a shovel ready State and close on your financing will be a big piece of our review as we move

11:45

forward and those commitment letters those dates and those commitment letters will be much more confirmed than they've

11:51

been in the past we have two whole pages of what's new uh

11:56

this is probably the biggest change and uh we are expecting questions on this and so we will we will respond to those

12:02

questions we're going to Institute or uh this round and this is uh this is solely

12:09

focused on uh multi-family new construction a tiered approach

12:15

there will be two tiers of review for new construction multi-family projects

12:22

the first tier to to receive review in the first tier uh your project must meet

12:30

the tier one funding limits um you're going to ask me what those funding limits are we're working on

12:35

those and you'll see those on Friday in the RFP submittal um uh release

12:42

there will be a per unit limits and a per development yet limit so to get into

12:48

first the first tier your development request must be under that uh those

12:54

funding Levels by unit and by development or

12:59

you can agree to accept some or all of your award uh in federal funding does

13:07

that mean that you'll necessarily get Federal funding no it just means that you are able to accept Federal funding

13:13

if we need to switch out some are all of your requests with federal funds rather than all the bond funds coming through

13:21

the trust fund so the next one is that your project is

13:26

eligible and that you apply for nchfa RPP funding or your development is in

13:33

district 6 or 7. so this is an Or List not an and list you need to meet one of

13:40

these um one of these requirements to get into tier one review what's in tier 2 review

13:49

all other requests so if your request is above the funding requirements listed in

13:55

the RFP you can't take federal funds you can't apply for our RPP or your

14:02

development is not located in District six or seven you can still apply the

14:07

review of your project will just come after that tier one review so we will

14:14

run down the list with the funding that we have if all that funding is taken up by tier one projects then there will be

14:22

no funding in tier two if there's money left over we'll move down into tier two the next question that you have for me

14:29

is going to be well how much money is going to be available we don't have a set number that really is determined by

14:36

by Council but the the voters approved

14:41

uh 50 million dollars we have four funding grounds that we are required to

14:46

fund with that funding so just to give you an idea of how we're looking at it

14:52

and then finally all Noah Supportive Housing and single family developments

14:59

they will all be reviewed in their own separate categories

15:08

so here's the schedule the RFP will be posted sometime tomorrow

15:14

and zelica will submit we'll send out another notification letting you all know that that it's been posted and

15:22

we'll also probably put a good bit of information out from a social media just to make sure everybody has opportunity

15:29

to to access the funds so you'll see all of that happen tomorrow

15:34

uh if there are questions and you have questions we will be answering those

15:41

questions up through the 20th so um take some time to review the RFP and

15:48

then please submit those questions you can submit those questions to zelica in

15:54

writing and then we will answer all those questions in one document and we will post it at the same location that

16:00

the RFP is going to be located and we will also notify you that those questions have been

16:06

um have been answered and are posted to the website

16:11

your proposal deadline uh back to us is February 10th but you have till March

16:18

17th to submit for your sketch plan review and your Market studies need to

16:23

be in by March 13th your final planning support letter needs to be into us by April 5th and we have

16:31

tentatively scheduled the council's final review on this and approval for

16:36

the April 24th council meeting again all of these are subjects to change based on

16:43

Council schedule but you will be notified if there is a change in this schedule

16:50

and that is the end of my piece of the presentation um Rusty I'm going to go ahead and kick

16:56

this over to you and I will control slides for you so just let me know when you're ready for your next slide

17:02

okay thanks Warren and again I have Tiffany dare with me and we're going to share in this presentation and in terms

17:09

of moving through it um so hopefully we'll address most of the questions that folks may have uh

17:15

next slide Warren that's just a disclaimer you can explode

17:21

that past that next flat one just a little bit about Lisk

17:27

started in 1979 um and that Charlotte office actually started in May of 2019 I'm Excuse me

17:35

March of 2019 uh with one of 38 officers around the country that hopefully um

17:40

will leverage a lot of the opportunities out in different cities uh you can see some facts about list there with double

17:46

A minus rated uh the number of units that we've produced uh for the housing is what we what we're known for

17:52

primarily across the country but as you can also see we do a lot of other things on the economic development side uh we

17:59

have a we have an NFL footballs teams uh field that we do healthy food projects

18:05

place-based initiatives so as you can see we're not just housing we believe in the whole comprehensive approach to

18:10

Community Development which includes housing as well as all the other services and needs that any individual

18:17

may have uh next to that one the local list Charlotte team as I noted

18:24

before Ralph and Caldwell is our executive director Robin is on the call if you want to say hello ralphine

18:33

hello uh hi everyone hope everyone's doing well thank you thank you again we started in

18:40

March of 9th 2019 uh with this team of two Ralphie and I and we quickly went

18:47

into the first RFP so glad to be at this point uh four years removed from that

18:53

and have a much smoother process as we all see as we move through this particular round

18:58

the next slide warrant uh I'm gonna turn it to Tiffany to kind

19:04

of go through the national list funds management team and the staff that gives us great

19:10

support we're proud and lucky to have them all as they help us with a relationship team on the ground here but

19:16

then we have a team a national team that helps us through the other pages of development and underwriting and

19:22

modeling and all those things so Tiffany if you would please thanks Rusty hello good morning everyone

19:29

um so Rusty mentioned um Lisk strategic Investments we're a national team we're a wholly owned

19:36

subsidiary of list can support many of the Community Development activities through lists through our private

19:41

investment funds so I I put this we wanted to put the slide in here so that

19:46

we could show the local team and the support you have there and the faces you and people you know locally as well as

19:53

the folks behind the scene on the national list fund management team that support

19:59

um George Ashton is the president and managing director of list strategic Investments I am a senior director who

20:06

manages our investment team which includes underwriting originations and

20:11

closing Ben gillispy is one of the members on our team some of you may know

20:16

him he's working with a long Rusty to help structure the deals and then Emily

20:22

Hardin is our director of credit and underwriting who supports the underwriting of the deals that are

20:28

considered for Choice funding we have a lot of other members some of that you may interact with from a

20:34

marketing side with Catherine klostet we have business development side so the rest of our members are on our website

20:40

that's listed here below at liststrategicinvestments.org thank you

20:47

and next slide this is a little bit about what we do at

20:52

Lisk fund management we are a registered investment advisory arm of Lisk we do

20:57

everything from designing investment funds through development deployment and management some of our funds are place-based which

21:05

we like to consider our Charlotte team as well as other cities around the office around the country that we

21:10

support where we work on local initiatives and some of our funds are broader in scope with the national

21:16

presence and we can lend nationally to different initiatives we're in this light blue the third arrow for

21:24

deployment which includes originations underwriting approval investment decisioning

21:29

and then marketing for our funds so that's uh the team that I represent and

21:34

how we support uh ralphine and Rusty with this initiative

21:40

next slide please uh so Rusty I'll kick it back to you I know we do a little bit of back and

21:45

forth here and I'll go over the uh the products once we get to that

21:51

thanks Tiffany as you mentioned uh the trophies is the private investment fund

21:56

to address the issues that that arose with the 50 out of 50 study years ago uh

22:02

we brought it to Market in 2019 uh with funds that were raised by the private sector

22:07

um to raise a total of 50 of which 43 was actually raised towards the housing fund uh we get those dollars out through

22:16

a debt and equity and we'll go into those products in a second here but it's

22:21

really been a tool that that the market called for and the market has responded to with using it uh

22:27

with with the intent as as was presented so thank you for all the developers who

22:32

are on the line for for your help in making this a successful uh first run

22:38

and um looking forward to doing more next slide one

22:45

this is a little bit about this show because I mentioned 53 million was was was totally committed uh of that 43 was

22:52

actually um uh raised towards towards Judas that we've done uh you can see some some

22:59

information here about how that how that was it was fully allocated within two years um and you can see that the the Ami

23:06

targets are similar uh we've actually hit 25 of our units right at 30 Ami level and we've just uh done about 1400

23:15

units or so with a few more to actually close on that particular first round of

23:20

43 million actually that we had to uh had available to use so I'm looking

23:25

forward to to moving forward again with that uh next slide

23:32

this gets into the the deals and the impacts and metrics because you can see

23:39

um Capital deployment um in terms of the the number of deals

23:44

that we've closed uh we talked about the affordability measures of the 30 Ami

23:50

units 20 of those have to be at 30 Ami we look at the proximity of jobs

23:57

um the the the the actual Community instability

24:02

um we look at leverage as well uh similar about the city's uh metrics are so we definitely do a a

24:10

customizing array if you will no deals are exactly the same so we take that into account accountability but we do

24:16

use these four or five factors that we have listed here in terms of what guides Us in in our decisioning to make sure we

24:22

get to the best deals possible and those that have to have the greatest impact so uh that's a little bit on our goals and

24:29

metrics right there next slide one

24:35

a little bit on our products um in terms of the debt and Equity that we have to offer sure thanks Rusty uh so

24:43

Troy has essentially two products debt and Equity uh most of our deployment has

24:48

been on the debt side that is both senior and subordinate um with our with our light tech projects

24:54

as well as NOAA projects that we funded we've mostly been in a subordinate position

24:59

um and so similar to the city we've refined our process we find our products a little bit more so that we can provide

25:06

Clarity to to the development community on how we want to deploy choice we have

25:13

a three million dollar Max per project we're going to hold firm there for three

25:18

million dollars a maximum all in LTV of 95 including all of the including

25:25

um all of the senior debt uh 3.75 rate that is hard pay uh this is

25:33

not cash flow contingent um and an ammonization period this is a

25:39

little different from prior years we do have built-in amortization of 35 35 years after the interest only period uh

25:47

so just adding Clarity there up to 18 years term and then we have all in 110

25:53

stabilized amortizing deck cover it's a little below what the city has so we'll use the lesser the the greater of so the

26:00

city has uh 1.15 I saw in the prior presentation so we want to make sure all

26:07

forms are dead are compliant with the debt cover minimum uh if you're only using Choice

26:13

um then it's a 110. uh the we have full recourse to the borrower and sponsor

26:18

until stabilization and we have certain conversion requirements to re to have that burn off of recourse

26:26

for Equity we just want to point out can be preferred or common three million dollar Max as well five

26:31

percent irr and the minimum Equity requirements whether it's preferred or common that are listed here and we'll

26:38

have more details in the RFP for those specific products next slide please

26:45

learn to writing guidelines here um they can see exit analysis we do a

26:52

reversion analysis at 70 LTV and a six percent cap rate

26:57

um developer fee uh the noi spread as long as there's a one percent spread between income and expenses on a pro

27:04

forma basis that's great that's what we'll be looking for five percent

27:09

um management fee based on NRI uh contingency requirements there and

27:15

affordability requirements as well none of these are significantly different from prior years

27:24

next slide please we have the rfe RFP process in here

27:31

um I think I'm supposed to kick it back to you Rusty but I think this was also covered in the prior presentation

27:39

um just about when the RFP will be issued and that process for City approval our process will closely align

27:46

to the city's process we'll be reviewing separately uh so um which brings me to the next

27:52

slide so maybe we can jump right into that so a few important notes that we want to

27:59

emphasize here um choice is is a separate private investment fund from the Housing Trust

28:05

Fund we work in conjunction with the city to um to leverage those funds

28:11

um so but the key distinction here is it's must pay and hard debt it's not soft money it's not cash flow contingent

28:18

even though we are doing a joint RFP uh we we review the deals independently

28:24

based on those factors that Rusty highlighted there we have a matrix for how we review our deals

28:31

um as far as timing uh after initial review um and we decide to move forward on a

28:37

deal we can provide a support letter with similarly we've um we've put on uh commitment expiration

28:44

so when we have an application letter um for light tech projects that's fine

28:49

but a full letter of intent with the full terms detailing out how choice will

28:55

structure its debt that will be issued after tax credits committed and it'll be time constrained this is so we can best

29:02

deploy our funds um the Lois are issued after we do a full

29:08

underwriting and presentation to our initial intake committee which is separate from our investment committee

29:14

intake is a group of members within the list team that reviews the deal and has

29:20

comfort with the terms of the deal and we also have legal review of our Loi at

29:27

that point we will issue a letter of intent that's signed countersigned and

29:32

time constrained prior to that we as I mentioned we can issue a support letter that's softer

29:39

shorter so that can be submitted with tax credit packages

29:44

and as mentioned we will Echo here that our Lois are subject to funding

29:49

availability within Choice that's written in all of our Lois and is nothing new but something that we wanted

29:55

to emphasize here um and Rusty okay get back to you for our final slide

30:05

next slide again

30:11

um we welcome any comments and then put as Warren has said at the top of the meeting that you know we'll take into

30:16

consideration any uh questions in the chat as well as any emails that come in but uh definitely look forward to

30:22

working this next round and meeting developers that who I haven't met if

30:28

there are any and um again I'll come to local point of contact for the for the

30:34

show uh I'm I'm the person that actually coordinates the local underground efforts and work with Tiffany's team to

30:40

help hopefully get these deals into the right queue so uh please feel free to reach out to me directly if you have any

30:46

comments or thoughts my contact information is at the bottom or the end of this presentation I think for all of

30:52

us so again thank you for your time and look forward to uh working with you great thank you Rusty

30:59

um I appreciate everyone being on the call today um I haven't seen any questions come in through chat Harold have you received

31:06

any questions you know what we have not

31:12

um that's fine um and it looks like a lot of people are

31:17

called in so it's probably difficult for you to um send the questions and so I'm

31:22

going to put up this next slide um this is all of our contact information so questions that uh that

31:29

you have um that you would like answered um please send either zelica or myself

31:36

um we will compile those questions if you have questions for a list you can

31:42

send those to Rusty just make sure you copy me and zelica on those questions so that we can ensure that we get an answer

31:48

onto the answer document before it's released and we don't we don't miss a question we want to make sure that you

31:53

all get the information that you need um and we do that in a really timely way so go ahead and take a a snapshot of

32:01

this get get your our information and again this presentation will be posted

32:07

tomorrow along with all of the documentation so I'm going to stop right here and just ask Sean if he has Disney

32:15

final comments and if not we will go ahead and end the webinar

32:22

I'll keep it brief Warren I'd just like to thank the team including our list partners for your work getting prepped

32:30

for for the RFP and for all of our development Partners on the call today thanks for your continuing efforts I

32:36

know these have been extraordinary times and challenging times for affordable housing development but we're you know

32:42

thrilled that voters step forward once again and endorse the housing bonds and we're ready to put the money to good

32:47

work so thanks for your time today great I just wanted to make to say

32:54

Warren sure uh I uh thank you for everyone for joining in uh via the

33:00

telephone I think we had uh probably a problem with the WebEx and I got a lot of text and calls but like Warren said

33:08

you will be able to to listen to the presentation and get all the presentation online tomorrow

33:14

great uh thank you all uh this concludes this webinar and uh we look forward to

33:19

your questions and working with you through this RFP around take care