P R O V I D I N G H O M E S

C R E A T I N G C O M M U N I T Y

C H A N G I N G L I V E S

BoulderHousingPartners

4800

Nor

th B

road

way

|

Bou

lder

, CO

803

04

Pho

ne: 7

20-5

64-4

610

TTY

: 1-8

00-6

59-3

656

Fax: 3

03-9

39-9

569

w

ww.

boul

derh

ousi

ng.o

rg

BoulderHousingPartners

Providing Homes, Creating Community, Changing Lives

Annual Report 2009

2

Boulder Housing Partners’Site Map

4

5

6

7

27

28

30

17

16

19

14

12

26

25

11

32

18

23

22

1 7

15

Arapahoe Court (14)951 Arapahoe

Diagonal Court (30)3265 30th Street

Iris/Hawthorne (14) 16th Street & Iris

Kalmia (55)3502 No­ingham Corut

Madison (34) 1130 35th Street

3

2

1

Canyon Pointe (82 )700 Walnut Street

Glen Willow (34)301 Pearl Street

10

Section 8 Tenant Based

Section 8 Project BasedPublic Housing

Tenant Based Vouchers (642)

Market Rate

Housing First (26)

Manha­an (44) 660 Manha­an Drive

Northport (50) 1133 Portland Place

Walnut Place (95) 1940 Walnut Street

Bridgewalk (123)602 Walden Circle

101 Pearl (6 )101 Pearl Street

Arapahoe East (11)4610 Arapahoe Avenue

Blu� Duplex (2)\2232 Blu� Street

Dakota Ridge (13)4912 10th Street

Group Home

Orchard House - 6 Bedrooms1603 Orchard Street

21 Broadway East (44)3110 Broadway Street

Hayden Place (24)3405 Hayden Place

13 Foothills Community (74)700 Silver Lake

Midtown (13)837 20th Street

Sanitas Place (12)3640 Broadway Street

Twin Pines (22)1700 22nd Street

Whi­ier (10)1946 Walnut Street

15 Holiday Neighborhood (49)1323 Yello Pine Avenue

20 Vistoso (15)4500 Baseline Road

24 Woodlands (35)2663 Mapleton

High Mar Swim Club4990 Moorhead Avenue

Holiday Neighborhood - 2.2 Acres

Development Projects

Red Oak Park (previously Boulder Mobile Manor)2637 Valmont

Broadway West (26)3100 Broadway Street

BHP O�ce

Main O�ce Boulder Housing Partners4800 BroadwayBoulder, CO 80304

A�ordable Rentals

9

Land Bank

13 Foothills Community (74)700 Silver Lake

10 Bridgewalk (123)602 Walden Circle

8

29 32

1513

27

17

1 43 01 12 1

1 02 4

1 92 3

2 5 2 2 1 89

1 6

2 0

2 8

1 0

4

23

8

1

5

6

12

3 1

29 Lee Hill HousingLee Hill and Broadway

7

31 Poplar Land Lease

3

Letter to City Council

August 2010

Dear Mayor Osborne and Members of Council,

On behalf of the members of the Boulder Housing Partners Board of Commissioners, we are pleased to submit our 2009 Annual Report.

Boulder Housing Partners plays a unique and essential role in the City’s strategy to increase its affordable housing inventory. You rely on us to be the largest developer of affordable housing in the city and in 2009 we delivered 107 new units and paved the way for 118 more. We also invest time and attention in helping our residents achieve self-sufficiency, and continuing to improve our own operations. Again, 2009 was a strong year for both.

On behalf of the residents, staff and Board we want to express our appreciation for the strong support Council provides to us as we seek to serve Boulder. Any success we achieve is the result of partnerships with the City and other organizations and individuals and makes our community rich, diverse and economically strong.

James Topping, Chair

Betsey Martens, Executive Director

Annual Report 2009Boulder Housing Partners

4800 Broadway St Boulder Co 80304 720 564 4610 www.boulderhousingpartners.org bhpinfo@bouldercolorado.gov

Letter to City Council

August 2010

Dear Mayor Osborne and Members of Council,

On behalf of the members of the Boulder Housing Partners Board of Commissioners, we are pleased to submit our 2009 Annual Report.

Boulder Housing Partners plays a unique and essential role in the City’s strategy to increase its af-fordable housing inventory. You rely on us to be the largest developer of affordable housing in the city and in 2009 we delivered 107 new units and paved the way for 118 more. These 225 homes join our existing inventory of 1,699, providing 35% of Boulder’s total affordable inventory and 43% of the Affordable Rentals. We also invest time and attention in helping our residents achieve self-sufficiency, and continuing to improve our own operations. Again, 2009 was a strong year for both.On behalf of the residents, staff and Board we want to express our appreciation for the strong sup-port Council provides to us as we seek to serve Boulder. Any success we achieve is the result of partnerships with the City and other organizations and individuals and makes our community rich, diverse and economically strong. The following 2 pages detail the highlights of our progress in 2009.

James Topping, Chair

Betsey Martens, Executive Director

4

Letter to City Council, cont...

Development

Broadway West: The 26 new affordable apartments at 3120 Broadway were completed on December 20, 2009. These apartments are targeted to families with household income at half of the area median income. They were quickly leased and fully operational by the first quarter of this year. These 26 apartments join the 44 public housing units at Broadway East to complete a diverse, mixed income neighborhood.

Red Oak Park: After a long and patient process, in October of 2009 Red Oak Park was awarded its allocation of Low Income Housing Tax Credits, which enabled the project to move forward. By the close of the year we had selected an investor and a lender and were moving quickly towards a spring 2010 ground breaking. As you read this, construction is in full swing on phase 1 and we expect to be leasing units in the spring of 2011.

High Mar: Plans for a new affordable neighborhood on the site of the former High Mar Swim Club at Table Mesa and Moorhead began in earnest in 2009. The City approved a pilot program in which Morgan Creek Ventures joined the BHP team to develop a high quality, green, affordable project.

New Vouchers

BHP applied for, and received, 81 new Housing Choice Vouchers for customers who are non-elderly and have a disability. These 81 vouchers bring our total of families assisted with vouchers to 757 and our total dollars into the Boulder rental economy to $5.62 million per year.

Energy Improvements

BHP was very successful in competing for Economic Recovery Act funds. In total we received $4.2 million in grants and low-interest financing. Half of the funds will be used to make energy improvements in our housing. The other half is dedicated to an energy performance contract at our public housing sites to make fundamental energy and water saving improvements. A total of $4.2 million in green improvements are underway, with 500kW of photo-voltaic panels already installed.

Broadway West: The 26 new affordable apartments at 3120 Broadway were completed on December 20, 2009. These apartments are targeted to families with household income at half of the area median income. They were quickly leased and fully operational by the first quarter of this year. These 26 apartments join the 44 other affordable units at Broadway East to complete a diverse, mixed income neighborhood.

5

Portfolio Strategic Plan

The BHP Board adopted a portfolio plan that will guide the growth and redevelopment of our physical inventory over the next ten years.

Major Renovation

We completed the vision plan and existing conditions assessment for Bridgewalk, our 123-unit market-rate property, which enabled us to launch substantial improvements in 2010. We also did substantial renovation on Woodlands, which is a 35-unit property with a Family Self Sufficiency program. Woodlands was the first of BHP’s six projects funded with Low Income Housing Tax Credits and we reached the end of the 15-year compliance period in 2009. Woodlands is now solely owned by BHP.

Asset Dispositions

In 2009, we sold nine scattered site condos per the recommendation of our adopted Portfolio Plan. The affordability covenants were transferred to Bridgewalk and Midtown. The proceeds of the sales supported the construction of Broadway West and the Bridgewalk rehabilitation; and began to address the operating and capital reserve needs of the organization.

Resident Services

Program Expansion

2009 was an expansion year for our Resident Services department. BHP made an investment into service coordination and community-building for our family public housing properties; and a system-wide investment in health and safety education. The BHP Foundation expanded its membership and its fund-raising capacity, providing more than $20,000 in grants and donations towards our resident activities.

Letter to City Council, cont...

6

Other Notable HighlightsNew Online Database Software - We began the change to Yardi, a new online data base software program. All customer and property information was converted to this program. Future construction and budget modules will be added at a later date.

Red Oak Park Development - Demolition of Boulder Mobile Manor makes way for Red Oak Park, a 59 unit affordable housing community.

Website Redesigned –Our primary goal with the creation of a new website was to have a user-friendly website for residents, future residents and the general public. We now have a website that is clean, crisp, colorful and easy to use.

Staff Transitions - Cindy Brown retired as Co-Executive Director after 16 years with BHP. Our heartfelt thanks and gratitude go with her on this new journey in her life.As part of a staffing reorganization three new directors were named. Stuart Grogan as Director of Development, Willa Johnson as Director of Portfolio Operations and Penny Hannegan as Director of Administration and Business Development.

ARRA Funding - American Recovery and Reinvestment Act (ARRA) funding helped create a new outdoor common area at the Manhattan Apartments, a 44 unit public housing site for families, elderly and people with disabilities.

Betsey Martens and NAHRO - Betsey Martens, executive director of Boulder Housing Partners (BHP), has assumed a leadership position with the nation’s premiere housing and community development association, the National Association of Housing and Redevelopment Officials (NAHRO). Martens was elected as senior vice president of NAHRO and was sworn in in October in Washington, D.C. She will serve in that position for the next two years. NAHRO provides professional development and congressional liaison support to its 23,000 members.

Grants and Funding - Boulder Housing Partners (BHP) received two grants totaling $826,620 from the U.S. Department of Housing and Urban Development (HUD) for solar energy production at six public housing properties, consisting of senior and family residences.

In addition to City, State and Federal grant awards, BHP secured funding for a number of our programs from a variety of other sources including:

• Boulder County Worthy Cause Tax Funds• The Boettcher Foundation• Elevations Credit Union• US Bancorp Foundation• BHP Foundation

...and an in-kind donation of a basketball court at one of our public housing family sites by the Colorado Nuggets in partnership with Kronke Sports and Sport Court of Colorado.

7

2009 FinancialsBHP Balance Sheet Summary & Statement of Activities SummaryDecember 31, 2009 BALANCE SHEET SUMMARY ASSETS CURRENT ASSETS $4,183,187 NON CURRENT ASSETS $14,317,669 CAPITAL ASSETS AND LOAN FEES - NET $25,599,228 TOTAL ASSETS $44,100,084 LIABILITIES AND NET ASSETS CURRENT LIABILITIES $3,209,134 LONG TERM LIABILITIES $19,633,383 NET ASSETS $21,257,567 TOTAL LIABILITIES AND NET ASSETS $44,100,084 STATEMENT OF ACTIVITIES SUMMARY OPERATING REVENUE NET TENANT RENTAL INCOME $4,595,929 OTHER OPERATING REVENUE $10,705,902 TOTAL OPERATING REVENUE $15,301,831 OPERATING EXPENSES HOUSING ASSISTANCE PAYMENTS $5,256,533 SALARIES AND BENEFITS $3,619,402 OTHER OPERATING EXPENSES $3,849,941 TOTAL OPERATING EXPENSES $12,725,876 OPERATING INCOME (LOSS) $2,575,955 NON-OPERATING REVENUE (EXPENSES) CAPITAL GRANTS $1,123,639 OTHER NON-OPERATING REVENUE $1,390,258 OTHER NON-OPERATING EXPENSES $(1,093,808) TOTAL NON-OPERATING REVENUE $1,420,089 CHANGE IN NET ASSETS $3,996,044

8

Household Income Group (%)

Public HousingBHP Resident Statistics

Household Information

Distribution by Household Member's Age as a % of Total Household Members

0 - 5 6 - 17 18 - 50 51 - 61 62 - 82 83+

PercentCount Count Percent Count Percent Count Percent Count Percent Count Percent

10 13 36 27 251 543 747 265 200 41 12 2

0

5

10

15

20

25

30

35

40

12

27

36

13

10

2

0-5

6-17

18-50

51-61

62-82

83+

12

27

36

13

10 2

0-5

6-17

18-50

51-61

62-82

83+

Monday, August 10, 20098Resident Characteristics Report

Household Members by Age (%)

Average Annual Income: $16,026

Number of Family Members in Household (%)

*as of December 2009

Sites for Seniors/People with Disabilities Family Sites

Average Annual Income: $11,041

PersonPersonsPersonsPersonsPersonsPersonsPersonsPersons

PersonPersonsPersonsPersonsPersonsPersons

Sites for Seniors/People with Disabilities Family Sites

145 Senior/Disabled, 192 Family Households

9

Distribution of Family Type as a % of 50058

Elderly,

No Children,

Non-Disabled

Elderly,

with Children,

Non-Disabled

Non-Elderly,

No Children,

Non-Disabled

Non-Elderly,

with Children,

Non-Disabled

Elderly,

No Children,

Disabled

Elderly,

with Children,

Disabled

Non-Elderly,

No Children,

Disabled

Count Percent PercentCount PercentCount PercentCount PercentCount PercentCount PercentCount

Non-Elderly,

with Children,

Disabled

Female

Head of Household, with

Children

Count Percent Count Percent

109 3 44 355 102 4 347

24 280

11 0 4 36 10 0 35

2 28

0

5

10

15

20

25

30

35

40

11

0

4

36

10

0

35

2

28

Elderly No Chi ldren

Non-Disabled

Elderly With Chi ldren

Non-Disabled

Non-Elderly No Chi ldren

Non-Disabled

Non Elderly With

Chi ldren Non -Disabled

Elderly No Chi ldren

Disabled

Elderly wi th Chi ldren

Disabled

Non-Elderly No Chi ldren

Disabled

Non-Elderly wi th

Chi ldren Disabled

Female Head of

Household wi th Chi ldren

114

36

1035

2

28

Elderly No Chi ldren

Non-Disabled

Elderly With Chi ldren

Non-Disabled

Non-Elderly No Chi ldren

Non-Disabled

Non Elderly With

Chi ldren Non -Disabled

Elderly No Chi ldren

Disabled

Elderly wi th Chi ldren

Disabled

Non-Elderly No Chi ldren

Disabled

Non-Elderly wi th

Chi ldren Disabled

Female Head of

Household wi th Chi ldren

Average TTP by Family Type ($)

Elderly,

No Children,

Non-Disabled

Elderly,

with Children,

Non-Disabled

Non-Elderly,

No Children,

Non-Disabled

Non-Elderly,

with Children,

Non-Disabled

Elderly,

No Children,

Disabled

Elderly,

with Children,

Disabled

Non-Elderly,

No Children,

Disabled

Non-Elderly,

with Children,

Disabled

Female Head of

Household, with

Children

273 440 253 345 274 323 219 363 325

Monday, August 10, 20095Resident Characteristics Report

Family Type (%)Public Housing, continued

BHP Resident Statistics

Length of Stay in Public Housing (%)

Sites for Seniors/People with Disabilities

Family Sites

10

Boulder Affordable Rentals - 243 HouseholdsDistribution of Household’s Gross Income (%)

Average Annual Income: $22,777

Summary of Household Member’s Age (%)

BHP Resident Statistics

Summary of Household Size (%)

*as of July 2010

0

2

4

6

8

10

12

14

16

18

Under5000

5000-9999

10000-14999

15000-19999

20000-24999

25000-29999

30000-34999

35000-40000

Over40000

7

9

15 15

18

14

8

3

12

02468

101214161820

0- 5 6- 12 13-17

18-21

21-29

30-39

40-49

50-54

55-61

62-69

70-79

80-89

13 14

7

4

12

19

12

6 7

2 1 1

Family Members Age Group

05

101520253035404550

1 2 3 4 5 6 7

46

22

14 10

6 1 0.5

Number of People in Household

11

• Total Number of Section 8 Housing Choice Vouchers managed: 757

• Total Number of Households on waiting list: 1,222

• Average days on waiting list regardless of household size: 305 days (including 81 new young/disabled vouchers)

• Households on BHP’s waiting list: 1. Living or working in the City of Boulder - elderly, disabled, family: 670

2. Living or working in the City of Boulder - single: 54

3. Living or working in Boulder County - elderly, disabled, family: 325

4. Living or working in Boulder County - single: 13

5. Living or working outside the County - elderly, disabled, family: 156

6. Living or working outside the County - single: 4

BHP Waiting List

Section 8 Waiting List Information

Public Housing Waiting List (Family Sites + Senior)• Total Number of Households on waiting list: 675

• Average days on waiting list regardless of household size: 663 days

• Households by preference: 1. Living or working in the City of Boulder - elderly, disabled, family: 155

2. Living or working in the City of Boulder - single: 12

3. Living or working in Boulder County - elderly, disabled, family: 232

4. Living or working in Boulder County - single: 53

5. Living or working outside the County - elderly, disabled, family: 217

6. Living or working outside the County - single: 6