1. Homeless Facility Improvement and Operating Deficit Fund 2014 NCSHA Conference October 20, 2014 Carol Ventura, Deputy Director Operating Deficit Fund Program

2. Need Homeless shelters and transitional shelter housing in Rhode Island need significant upgrades to: – Meet current health and safety standards – Provide accessibility – Make capital improvements – Address physical deterioration due to wear and tear

3. Need (cont.) Organizations struggle with operating deficits Require emergency funding to ensure services are available Operate in obsolete buildings Lack funding and space Residents and the shelters are at risk

4. Response to Need Direct response to needs of shelter partners and 3,403 homeless that required shelter in 2013 Influx of difficult money to secure: – capital funds for deferred maintenance and operating funds Amount is small but critical By strengthening financial condition of homeless service providers – move more households to permanent housing

5. Purpose of the Program Ensure that individuals and families are housed in safe and decent structures Address operating deficits and provide emergency assistance to maintain provision of services Expand the provision of services for individuals and families

6. Current Program Awards $1.2 million in capital for 10 facilities Capital improvements include: – purchase of beds/mattresses – fire code upgrades/handicapped accessibility – energy improvements/hazard reductions $433,513 in operating funds for 6 agencies Total Funding: $1,687,829

7. Increasing the Provision of Services Case Study: Amos House Community Center A building that will reenergize our community, reorganize our campus and help Amos House to transition into the next phase as we continue with our mission of “helping people help themselves.”

8. Amos House Before Obsolete building with inadequate space Roof/siding needed to be replaced Major systems needing improvement

9. Amos House From Homelessness to Self Sufficiency After Expand dining hall and kitchen facilities Social Services dept. with “confidential” meeting space for guests Dedicated classroom and workshop space for education programs Meeting space for recovery based programs

10. Impact of Improvements Seat 20% more guests at each meal Accept 30-50% more students into Carpentry and Culinary Training and Entrepreneurial Programs Increase supportive housing from 175 beds to 197 beds

11. Impact of Improvements (cont.) Expanded space allows agency to accept additional candidates for ACT program, eventually doubling size of program Construction jobs employ 25 individuals (existing jobs) at peak construction create 18 new jobs; 9 of which are higher-wage jobs expand training program = 40 additional individuals annually gaining employment

12. Project Financing Uses Acquisition$ 310,000 Construction$4,973,733 All Soft & Gen. Development Costs$2,226,267 Bridge Loan Interest and Legal Fee to bridge lender$ 160,000 Total Project Cost$7,670,000 Sources Sponsor Loan* ($1 million Rhode Island Housing)$5,307,260 Net NMTC Equity$2,202,740 Bridge loan proceeds to pay loan interest and legal fee$ 160,000 Total Development Sources$7,670,000 * To bridge existing, already committed pledges

13. Thank You! Contact Information: Carol Ventura, Deputy Director Phone: 401-457-1129 Email: Cventura@rhodeislandhousing.org