Housing Authority of the City of Nacogdoches AMP TX 486000001 Total Units: 76 2016 RAD Rents 1BR: $326 2BR: $409 3BR: $509 4BR: $547 Bedroom Mix One: 16 Two: 14 Three: 44 Four: 2 The Nacogdoches Housing Authority operates 1101 housing choice vouchers including the 76 project based to the RAD units. NHA has been involved in several affordable housing developments prior to RAD. The RAD Conversion used public housing funds and borrowed funds from the NHA’s non-profit. The project is currently cash flowing and making mortgage payments with interest back to the non-profit.

Parkcrest 715 Summit Street, Nacogdoches, TX AMP TX 486000001 Units: 38 Rents 2017 3BR: $519 Bedroom Mix One: Two: Three: 38 Four: Five: First Lease Up Date: February 1994

Sandy Oaks 804 Jordan Street, Nacogdoches, TX AMP TX 486000001 Units: 38 Rents 2017 1BR: $332 2BR: $417 3BR: $519 4BR: $557 Bedroom Mix One: 16 Two: 14 Three: 6 Four: 2 First Lease Up Date: July 1986

Nacogdoches, TX Sources and Uses Sources: Uses: 1st Mortgage: $400,000 Construction Costs: $210,000 Public Housing Operating Reserves: $263,273 Prof, Relo, Misc. : $15,000 Prior Year Public Housing Capital Funds: $81,615 Legal Fees: $20,000 Operating Fund: $38,912 Interim Fees: $6,500 ODR: $61,300 IDRR: $456,000 Developer Fees: $15,000 Total Sources: $783,800 Total Uses: $783,800

Entity Relationships Housing Authority of the City of Nacogdoches, Texas Sole Member and Manager of NHA Communities, LLC PBV Contract Administrator Capital Contributions: Real property (Sandy Oaks) Real Property (Parkcrest) Cash ($383,300) 100% ownership interest PBV Contract Administrator $400,000 conventional loan 2% Interest per annum 360 months Nacogdoches Housing Development Corporation, a Texas nonprofit corporation Lender NHA Communities, LLC a Texas limited liability company Owner/Transferee of Project

Lessons Learned After Conversion You can’t communicate with your long term public housing tenants too much. They have become used to the public housing ways so continue to inform them of the changes. If you keep the  same maintenance staff the focus shifts somewhat. In public housing, so much focus had been placed on trying to score high on REAC inspections and PHAS. If you are the PBV administrator and still have an ownership interest in the RAD units, it’s good to get more than one “independent entity” approved by HUD. If you administer the HCV program, consider how to handle your RAD tenants that apply for that waitlist, including adults in a household that are splitting.