Interfaith Housing Development Corporation of the Maryland Eastern Shore, Inc. 103 Gay Street Denton, Maryland Telephone: Fax: Paul J. Washo, Executive Director ihdc.biz “By wisdom a house is built, and by understanding it is established”

Interfaith Housing’s Mission “To help provide decent, safe, affordable housing and supportive services for those in need”

Who & What ? Not-for-profit, 501(c)(3) Established in 1989 Affordable Housing Development Single Family & Multi-Family Housing Rehabilitation & New Construction Development Consultant, Partner, Owner CDHO for Caroline County Administrator of CDA Special Loans Other supportive housing services

Interfaith’s Primary Roles and Achievements Affordable Housing Development Thirteen multi-dwelling projects completed 9 Maryland counties served to date 350 new or rehabilitated units $35 million in project construction to date Maryland Housing Rehabilitation and Lead Hazard Reduction Programs for qualified home owners Over $500K in Special Loans funds for 2 counties served during fiscal 2005 Several hundred families and individuals served

Workforce/Affordable Housing Hurdles, Obstacles & Solutions

Hurdles, Obstacles, Challenges Once the need for Workforce/Affordable Housing is clearly established within a community... Public opinion Fear of the unknown Local Support Land availability & cost Construction costs Funding Weather delays Marketing Operating Maintaining Sustaining

Solutions?

NIMBY Not in my back yard ! Share information early and often Offer a quality housing product that is well-planned and self-sustaining Clearly demonstrate how the community benefits... how is the project a “win-win” for everyone?

Form Partnerships & Alliances Religious Organizations Citizen’s groups Local Government State Legislators Local Businesses

The Funding Challege Ins, Outs, Ifs, Ands or... ! HOME MHRP RHPP LIHTC CDBG PILOT MAHT CITC AHP Rural Housing Development Loans Private Loans

Typical funding structure HOME + LIHTC+ Private Loan State of Maryland Community Development Administration (CDA) Multifamily Rental Housing Development Program COMPETITIVE FUNDING ROUND

Combined Resources = Leveraging CDBG Funds – Local governments CITC – Community Investment Tax Credits MAHT – Maryland Affordable Housing Trust MHTC – Maryland Historic Tax Credits AHP – The Federal Home Loan Bank of Atlanta’s Affordable Housing Program ESIC – Enterprise Social Investment Corporation Low Income Housing Tax Credit syndication. Innovative Venture Awards

Some forms of local contribution Local resolution Land Tax reduction Fee waivers In-kind Business & private donations

Making the competitive funding cut How is your affordable project unique? How affordable is “affordable”? Previously unmet or special needs? Green building design elements? Tenant services plan? Other innovations and/or meaningful partnerships that meet specific housing needs within the community?

Calvert Street Chestertown, MD New Construction 26 Units, Sale/Lease-Purchase Total Project Cost: $1,400,000

St. Martin House Ridgley, MD New Construction 12 Units, Transitional Housing Total Project Cost: $535,000

Tanyard Branch Federalsburg, MD New Construction 25 Units, Family Rental Total Project Cost: $1,600,000

Dayspring Town Homes Ridgley, MD New Construction 26 Units, Family Rental Total Project Cost: $1,600,000

Dayspring Town Homes 2 Ridgley, MD New Construction 20 Units, Family Rental Total Project Cost: $1,700,000

Henderson School House Henderson, MD Rehabilitation 4 Units, Family Rental Total Project Cost: $240,000

Southern Pines Lusby, MD New Construction 76 Units, Seniors Rental Total Project Cost: $5,300,000

East New Market East New Market, MD Rehabilitation 19 Units, Seniors Rental Total Project Cost: $1,900,000

The Maples La Plata, MD New Construction 93 Units, Seniors Rent & Own Total Project Cost: $7,800,000

Snow Hill Seniors Snow Hill, MD New Construction 30 Units, Seniors Rental Total Project Cost: $3,400,000

The Lodges at Naylor Mill Salisbury, MD New Construction 65 Units, Seniors Rental Proposed Project Cost: $8,800,000

Contacts Interfaith Housing Maryland Department of Housing & CD The Federal Home Loan Bank of Atlanta Enterprise Social Investment Corporation

Interfaith Housing Development Corporation Board and Staff – April 7, 2005

Interfaith Housing Development Corporation of the Maryland Eastern Shore, Inc. 103 Gay Street Denton, Maryland Telephone: Fax: Paul J. Washo, Executive Director ihdc.biz “By wisdom a house is built, and by understanding it is established”