Volunteers of America National Services Attainable Housing Coalition Steering Committee October 24, 2018

Volunteers of America, Inc. founded in 1896 Background on Volunteers of America National Services Volunteers of America, Inc. founded in 1896 31 geographic affiliates covering 46 states and Puerto Rico Volunteers of America National Services (VOANS)is a separate 501( c)(3) and has a Board of 15 housing and healthcare experts Faith-based through affiliation with VOA, Inc.

VOA Geographic Affiliate Services Program Service Locations

VOANS Housing Portfolio Largest Not For Profit provider of affordable housing in the country 500 42 173 properties rental homes states + Puerto Rico congressional districts 20,200 270 cities & towns 1,174 units in Florida

Components of VOANS Housing Operations Asset Management Affordable Housing Development, Construction & Finance Property Management - National Housing Corporation Resident Services Housing Quality & Training Workforce Housing

VOANS Real Estate Capacity VOANS has programs, staff and systems in place to implement and manage a variety of real estate development and finance programs. It is also uniquely positioned to provide social services and health care under several programs. Large (real estate development & construction management team) located throughout the country to effectively source and close transactions. VOANS also has national capacity to provide Asset Management and Property Management services

VOANS Workforce Housing Initiatives Significant unmet need in the US for housing for families at or above 60% AMI Lack of affordable housing for working families often drives them out farther and father from the locations where they work Many states are offering incentives to developers to build workforce housing that can be used to assist employers (i.e., Massachusetts established a $100M fund to for workforce housing, Florida’s SAIL program provides gap financing for workforce housing, Minnesota has a funded a workforce housing program, etc.)

Employer Assisted Workforce Housing Employer-assisted housing is any housing program-rental or homeownership – that an employer finances or assists in some way. Communities face increasing pressure to provide more housing for local employees. Employers can work in partnership with their communities to help address the affordable housing shortage. The result is a stable local workforce and a healthy local economy.

The Employer’s Role Assess Housing Needs Evaluate and Choose Approach: Project Development – Increase the Affordable Housing Supply Program Creation – Help Employees Purchase or Rent Housing

VOANS Partnerships Coronado Apartments – Dallas, Texas Built in 1985 264 units (50% 1BR, 50% 2BR) CDT acquired property as limited partner investor in 2006 Bought out partner in 2011 97%+ occupancy for last 5 years

Coronado Apartments Unit/Affordability Mix

VOANS Partnership – The Groves at Mile Branch – Covington, LA Built in 2011; new construction 94 mixed-income rental units RNDC, a subsidiary of VOANS served as the developer $25 million development of one, two and three bedroom apartments at various incomes 35 single-family homes – 10 Habitat for Humanity and 25 lease purchase Catalyst to further neighborhood improvement

The Groves Income Mix & Rental Rates One Bed Two Bed Three Bed % of all Units Permanent Supportive Housing $130 5% 40% AMI $355 $434 $506 15% 60% AMI $523 $623 $739 48% Market Rate $700 $800 $900 31% 100% # of Units 24 46 94

How can we work together? Next Steps Discussion