HACS RAD RESIDENT MEETING BARTON DRIVE MANOR AND BRIARWOOD VILLAGE

Transcription

1 HACS RAD RESIDENT MEETING BARTON DRIVE MANOR AND BRIARWOOD VILLAGE Housing Authority of the City of Shreveport June 13 th, 2017

2 AGENDA 1. What is RAD? 2. Rehab of Barton and Briarwood 3. Resident Rights and Relocation 4. Schedule 5. Questions

3 I. WHAT IS RAD?

4 What is RAD? The Rental Assistance Demonstration program is a program that enables Public Housing Authorities (PHAs) to convert existing Public Housing to Section 8 Authorized by Congress through Public Law FY2012 Appropriations Act in 2011 A central part of HUD s rental housing preservation strategy Allows PHAs to expand funding options beyond what is provided by HUD Aimed at preserving long-term affordability and the upkeep of public housing The RAD program is cost-neutral and does not increase HUD s budget

5 Why RAD? In recent times, Congress has diminished budgetary support for the construction and maintenance of public housing Public housing cannot access private capital (loans) Because of high capital needs (repairs) and decreased funding opportunities, the national public housing stock decreases by an estimated total of 10,000-15,000 units per year RAD helps preserve affordable housing by moving units to the more stable Section 8 program and allowing the injection of private investment.

6 What RAD Involves Converting conventional public housing assistance into longterm Section 8 rental assistance contracts HACS can finance improvements to the properties to a level that may be sustained for 15 to 20 years Improves residents lives by preserving units, making needed upgrades, and creating more choices

7 Conversion Process Application approved and CHAP Issued RAD Capital Needs Assessment Fair Housing Reviews and Site Approvals Financing Plan Submission HUD Credit Committee Review and Approval RCC Issuance Closing Package Submission Closing and Conversion

8 II. REHAB AT BARTON DRIVE AND BRIARWOOD VILLAGE

9 Improvements Following closing, both Barton Drive Manor and Briarwood Village will undergo extensive physical improvements through the comprehensive rehabilitation of units Rehab to be financed using a mix of sources, including 4% Low Income Housing Tax Credits, HOME funds, and private debt Temporary relocation will likely be necessary to facilitate relocation Work to be completed in phases (the number and composition of which are to be decided at a later date) HACS will host additional meetings as the process moves forward, to further explain the physical improvements and plans for any required temporary relocation.

10 Improvements Kitchen upgrades, including new cabinets and new Energy Star appliances Bathroom updates, including new plumbing systems, mirrors, and fixtures Upgrades to building systems including heating/cooling, electrical, and plumbing Installation of 100% recycled wood plank vinyl flooring Rehabilitation of clubhouse/office, including new furniture, fixtures, and equipment Updated landscaping

11 III. RESIDENT RIGHTS AND RELOCATION

12 Resident Protections No rescreening of tenants Pursuant to the RAD statute, at conversion, current households are not subject to rescreening, income eligibility, or income targeting provisions Right to return Any residents that may need to be temporarily relocated to facilitate rehabilitation or construction will have a right to return to the development once rehabilitation or construction is completed Renewal of leases Under RAD, the PHA must renew all leases upon lease expiration, unless cause exists Phase-in on tenant increases Resident rents post-conversion still based on 30% of adjusted income. If a tenant s monthly rent increases by more than the greater of 10 percent or $25 purely as a result of conversion, the rent increase will be phased in over 3 years

13 Resident Protections cont d. Resident participation and funding Residents of covered projects converting assistance to PBVs will have the right to establish and operate a resident organization for the purpose of addressing issues related to their living environment and be eligible for resident participation funding Relocation Any relocation necessary to facilitate rehab must meet Uniform Relocation Act (URA), as well as additional RAD requirements, for the following: Choice mobility Resident notification Relocation timelines and units Relocation payments After one year, residents may request to not renew their lease and instead request a Section 8 Housing Choice Voucher

14 IV. PROJECT SCHEDULE

15 Proposed Timeline- Before Closing Tasks May 17 June 17 July 17 August 17 Sept. 17 Oct. 17 Nov. 17 Dec Financing Plan Submission 2 HUD Review October Final Financing Plan Submission 4 RAD Credit Committee 5 HUD Approval for Closing 6 Financial Closing

16 Proposed Timeline-Rehab Tasks 1 Reloc. (Ph. 1) 2 Rehab (Ph. 1) Jan. 18 Feb. 18 March 18 April 18 May 18 June 18 July 18 Aug. 18 Sept. 18 Oct. 18 Nov. 18 Dec Reloc. (Ph. 2) 4 Rehab (Ph. 2) 5 Reloc. (Ph. 3) 6 Rehab (Ph.3) 7 Reloc. (Ph. 4) 8 Rehab (Ph. 4) 9 Reloc. (Ph. 5) 10 Rehab (Ph. 5) 11 Reloc. (Ph. 6) 12 Rehab (Ph. 6) 13 Reloc. (Ph. 7) 14 Rehab (Ph. 7) 15 Reloc. (Ph. 8) 16 Rehab (Ph. 8) 17 Reloc. (Ph. 9) 18 Rehab (Ph. 9) 19 Reloc. (Ph. 10) 20 Rehab (Ph. 10) October 2017

17 V. QUESTIONS/COMMENTS

18 Questions/Comments Questions Comments Forms Responses