Development of Permanent Supportive Housing

Jack D. Humburg, M.A., C.R.C. Executive Vice President of

Housing, Development, and ADA Services

Florida Affiliate of the SE ADA Center for the past 25 years

Fair Housing Education and Outreach

Board member of the Florida Housing Coalition, Florida Supportive Housing Coalition, Disability Achievement Center, Florida Community Loan Fund, Neighborhood Lending Partners, Affordable Housing Workgroup

Broadwater Place

Boley Centers, Inc.

Provider of Services and Supports to Individuals with Mental Illness and Others Since 1970 – 46 years

750 Units of Affordable Housing in Pinellas County

Currently Administer 418 Tenant Based Vouchers

Pinellas Affordable Living, Inc. (PAL) is a Community Housing Development Organization

Private non-profit 501(c) 3

Duval Park88 units for Veterans with Disabilities and

their families.

Boley Centers Housing Continuum

Permanent Supportive Housing Units: 542*

Group Home Beds: 29 VA Beds: 13 Forensic Beds: 16 Safe Haven Beds: 45 Single Family Beds: 9 Sub-Total 654 Duval Park 88 Total 742 Duval Park - Clubhouse

88 Units for Veterans with Disabilities and their families.

Boley Centers/PAL is a partner in this 9% Low Income Housing

Tax Credit development.

*206 set aside for individuals or families who were homeless

Housing Choice Vouchers and rental subsidies

Traditional Vouchers Mainstream 176

HOPWA 145*

Shelter+Care 72

HOME TBRA 25

Total 418

Residential Subsidy** FACT 33

Supported Living 38

Total 71

Sub Total 489 Grand Total 1,231

*HOPWA budget cuts will lower this amount to 132 effective January 1.

**These subsidy numbers are a snapshot - point in time estimate.

The Mastry Apartments3636 5th Avenue NorthSt. Petersburg, FL

Owned by Boley Centers, Inc. In-fill Lot Land: $124,900

• $15,612/unit Purchased with a

Bridge Loan• Bessie Boley

Foundation• 5% Interest• December, 2013

Mastry Apartments

Mastry Apartments

Development Team Architect Civil Engineer General

Contractor Attorney

First Housing Underwriting Draws Inspections, etc.

Predevelopment Site Control

• Appraisal ($1,200)• Survey ($1,350)• Geotechnical ($3,215)• Environmental ($1,200)

Zoning• Workforce Density Bonus

6 + 2 = 8 total units Building Permits ($13,420)

Property Taxes ($1,484)

All funded up-front by Boley Centers (~$25,000)

Mastry Apartments 8 Units;

6 Two Bedroom + 2 Three Bedroom

Florida Housing Finance Corporation RFA $1,239,750*

City of St. Petersburg (HOME) $268,965

“Chronically” Homeless Veteran Families at or Below 50% AMI

*Total

Boley Centers is the Owner3636 5th Avenue North

St. Petersburg, FL 33713

Roles and Responsibilities

Boley Centers Board Approve Site Acquisition Approve Bridge Loan Commit Equity Approve Cost Overruns

(Dev. Fees)

Bessie Boley Foundation Approve Bridge Loan Approve Loan Extensions

Staff Locate and Negotiate Site

Acquisition Development Team

Coordination Secure Financing Coordinate Underwriting Project Management Coordinate Legal Issues Approve Design Ensure Accessibility Operations Coordination

• Staffing (Church vs State) • Operational Pro Forma

Draw Schedule

3636 Park Apartments

USES: Total BudgetBudget

Reallocations Revised BudgetClosing Draw;

Draw 1 Draw 2 Draw 3 Draw 4 Draw 5Land Closing Adjustment Draw 6 Draw 7 Draw 8 Draw 9 Draw 10 Draw 11 Total Remaining

Site Work 0.00 0.00 0.00 0.00 Construction 923,738.00 132,200.55 1,055,938.55 94,819.50 60,165.00 114,760.62 152,249.49 201,851.00 209,960.54 7,877.70 25,893.26 29,885.98 158,475.46 1,055,938.55 0.00 Overhead & Profits 64,447.00 (10,800.67) 53,646.33 6,029.84 3,824.99 7,301.25 9,683.18 12,837.56 10,750.73 2,682.31 536.47 53,646.33 0.00 General Conditions/Builders Fees 85,929.00 (16,364.41) 69,564.59 16,206.87 4,286.17 8,181.59 10,850.67 14,385.43 12,046.98 3,005.73 601.15 69,564.59 0.00 Total Contract 1,074,114.00 105,035.47 1,179,149.47 0.00 117,056.21 68,276.16 130,243.46 172,783.34 0.00 229,073.99 232,758.25 13,565.74 27,030.88 29,885.98 158,475.46 1,179,149.47 0.00 Hard Cost Contingency 55,000.00 (55,000.00) 0.00 0.00 0.00 Allowances 11,030.00 (11,030.00) 0.00 0.00 0.00 Total Construction Cost 1,140,144.00 39,005.47 1,179,149.47 0.00 117,056.21 68,276.16 130,243.46 172,783.34 0.00 229,073.99 232,758.25 13,565.74 27,030.88 29,885.98 158,475.46 1,179,149.47 0.00

GENERAL DEVELOPMENT COSTS Total BudgetBudget

Reallocations Revised BudgetClosing Draw

Draw 1 Draw 2 Draw 3 Draw 4 Draw 5Land Closing Adjustment Draw 6 Draw 7 Draw 8 Draw 9 Draw 10 Draw 11 Total Remaining

Accounting Fees 0.00 0.00 0.00 0.00 Appraisal 0.00 0.00 0.00 0.00 Architect's Fee - Design 36,428.00 3,463.08 39,891.08 36,258.45 10.79 3,621.84 39,891.08 0.00 Buidling Permits 20,856.00 (7,435.96) 13,420.04 2,025.96 9,959.06 600.00 835.02 13,420.04 0.00 Builders Risk Ins. 6,000.00 170.63 6,170.63 6,170.63 6,170.63 0.00 Engineering Fee 10,000.00 (435.00) 9,565.00 8,715.00 500.00 350.00 9,565.00 0.00 Construction Management 8,832.00 (3,535.32) 5,296.68 1,699.24 1,236.00 1,678.08 683.36 5,296.68 0.00 FHFC Application Fee 500.00 500.00 500.00 500.00 0.00 FHFC Compliance Monitoring Fee 10,000.00 10,000.00 10,000.00 10,000.00 0.00 FHDC Credit Underwriting Fee 6,000.00 6,000.00 6,000.00 6,000.00 0.00 FHDC Construction Inspection 2,520.00 2,240.00 4,760.00 595.00 595.00 1,785.00 1,190.00 595.00 4,760.00 0.00 FHDC Draw Review/Approval 4,609.00 676.00 5,285.00 2,074.00 422.50 760.50 1,183.00 845.00 5,285.00 0.00 Insurance 5,520.00 (5,520.00) 0.00 0.00 0.00 Impact Fees 11,000.00 3,985.00 14,985.00 14,985.00 14,985.00 0.00 Legal Fees 12,500.00 12,500.00 12,500.00 12,500.00 0.00 Market Study 0.00 0.00 0.00 0.00 Marketing and Advertising 0.00 0.00 0.00 0.00 Plan/Cost Review 1,325.00 1,325.00 1,325.00 1,325.00 0.00 Property Taxes 1,522.95 1,522.95 1,522.95 1,522.95 0.00 Soil Test 0.00 0.00 0.00 0.00 Survey 5,000.00 (3,900.00) 1,100.00 1,100.00 1,100.00 0.00 Title and Recording Insurance 15,535.50 15,535.50 15,535.50 15,535.50 0.00 Utility Connection Fees 0.00 26,069.27 26,069.27 25,915.00 154.27 26,069.27 0.00 Other - Local Gov't Fees 0.00 0.00 0.00 0.00 Other - Water-Sewer Fees 0.00 168.70 168.70 168.70 168.70 0.00 Other - Post CO 0.00 0.00 0.00 0.00 Other - Building Permit 0.00 315.28 315.28 315.28 315.28 0.00 Soft Cost Contingency 10,000.00 (3,185.25) 6,814.75 1,819.42 300.00 3,226.78 623.64 75.00 612.80 157.11 6,814.75 0.00

0.00 0.00 Total General Development Costs $168,148.45 $13,076.43 $181,224.88 $99,376.28 $16,940.48 $0.00 $2,716.74 $5,057.78 $0.00 $0.00 $6,767.34 $30,589.72 $17,162.99 $1,611.44 $1,002.11 $181,224.88 $0.00

Total BudgetBudget

Reallocations Revised BudgetClosing Draw;

Draw 1 Draw 2 Draw 3 Draw 4 Draw 5Land Closing Adjustment Draw 6 Draw 7 Draw 8 Draw 9 Draw 10 Draw 11 Total Remaining

Commitment Fee - Grant 2,000.00 $2,000.00 $2,000.00 $2,000.00 $0.00 Other - Closing Costs/City Loan 0.00 $5,982.78 $5,982.78 $5,982.78 $5,982.78 $0.00 Permanent Loan Origination Fee 0.00 $0.00 $0.00 $0.00 Operating Reserves 52,000.00 $52,000.00 $0.00 $52,000.00 $52,000.00 $0.00 Total Financial Costs $54,000.00 $5,982.78 $59,982.78 $2,000.00 $0.00 $0.00 $0.00 $0.00 $5,982.78 $0.00 $0.00 $0.00 $0.00 $0.00 $52,000.00 $59,982.78 $0.00

Developer Fee/Overhead $125,000.00 ($58,064.68) $66,935.32 $66,935.32 $66,935.32 $0.00 $0.00 $0.00 $0.00 $0.00

Total Other Development Costs $125,000.00 ($58,064.68) $66,935.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $66,935.32 $66,935.32 $0.00

Land $124,900.00 $124,900.00 $124,900.00 $124,900.00 $0.00 Existing Building $0.00 $0.00 $0.00 $0.00 Total Acquisition Costs $124,900.00 $0.00 $124,900.00 $124,900.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $124,900.00 $0.00

TOTAL USES 1,612,192.45 0.00 1,612,192.45 226,276.28 133,996.69 68,276.16 132,960.20 177,841.12 5,982.78 229,073.99 239,525.59 44,155.46 44,193.87 31,497.42 278,412.89 1,612,192.45 0.00

CONSTRUCTION SOURCES: Total BudgetBudget

Reallocations Revised BudgetClosing Draw;

Draw 1 Draw 2 Draw 3 Draw 4 Draw 5Land Closing Adjustment Draw 6 Draw 7 Draw 8 Draw 9 Draw 10 Draw 11 Total Remaining

ELI - FHFC 140,000.00 140,000.00 140,000.00 140,000.00 0.00 Grant - FHFC 1,099,750.00 1,099,750.00 49,898.83 133,996.69 68,276.16 132,960.20 177,841.12 229,073.99 197,196.53 18,240.46 29,208.87 1,611.44 61,445.71 1,099,750.00 0.00 Operating Deficit Reserve 52,000.00 52,000.00 0.00 52,000.00 52,000.00 0.00 City of St. Pete - Land Loan 268,965.00 268,965.00 124,900.00 5,982.78 42,329.06 25,915.00 14,985.00 29,885.98 24,967.18 268,965.00 0.00 Equity - Boley 51,477.45 51,477.45 51,477.45 51,477.45 0.00 TOTAL SOURCES 1,612,192.45 0.00 1,612,192.45 226,276.28 133,996.69 68,276.16 132,960.20 177,841.12 5,982.78 229,073.99 239,525.59 44,155.46 44,193.87 31,497.42 278,412.89 1,612,192.45 0.00

Sources and Uses Summary

Sources Uses FHFC Grant $1,099,750 Hard and Soft

ELI Grant 140,000 Hard

ODR 52,000 Operating Reserves

St. Petersburg 268,965 Land + Hard Costs

Equity 51,477 Soft

Deferred DF 58,064 Cost Overruns

Total $1,612,192

Operational Pro Forma

IncomeRent/Unit/Month 2 BR ELI $515 3 BR ELI $596 2 BR 50% $646 3 BR 50% $746 Other $ 80 UA 2 BR -$104 UA 3 BR -$134

Total Annual 47,196

Expenses Mgt. Fee $320 Legal & Audit $ 80 Utilities $440 Supplies $120 Payroll $320 Insurance $667 Pest Control $ 80 Maint./Repair $800 R. Reserves $240 Admin $200

Total Annual $39,200 Net Op. Income $7,996

Operational Issues

Homeless COC Permanent

Supportive Housing Family Support

St. Petersburg Housing Authority Homeless Veterans Project Based

Vouchers Typical Kitchen

An Accessible Kitchen

Time Lines

Land Purchased December, 2013

FHFC RFA 2014-101 May 1, 2014 Closed on April 30, 2015

Building Permits April 14, 2015

Cert of Occupancy February 29, 2016

Expect the Unexpected

Difficulties $25,000 Change Order

for 4” Main and Fire Line Site Elevations

• Civil Engineer vs Surveyor• 2 Month Extension

Change in Project Manager (G. Contractor)

Paving the Alley Originally $125,000 DF

Eventually $66,935

The Sally Poynter Preserves4100 34th Avenue South

Closed in October, Land Cost of $250,000

Construction has begun on 16 units in two buildings

Funding by the City of St. Petersburg and Pinellas County

$160,000 Home Depot Foundation Grant (8 Units for Veterans)

Occupancy in March ?

Sally Poynter PreservesPhase One: 8 Veteran Units

October 25, 2017

Sally Poynter PreservesPhase Two: 8 Chronically Homeless Units

Sources and Uses Summary

Sources Uses Pinellas County $1,175,000 Hard Phase 2

St. Petersburg 965,790 Hard & Soft Phase 1

Home Depot Fd 160,000 Hard Phase 1

Bessie Boley Fd 140,000 Hard Costs

PAL 88,000 Hard & Soft

Total $2,528,790 What’s missing?

Pinellas County Land Assembly Fund

Appraised Value of $250,000

99 Year Lease Term, with Option

First Three Years Lease Fee Abated

Jack Humburg

Executive Vice PresidentHousing, Development,

& ADA ServicesBoley Centers, IncPinellas Affordable Living, Inc.445 31st Street NorthSt. Petersburg, FL 33713(727) 821-4819 x 5717jackhumburg@boleycenters.org