Renaissance Housing Corporation Board Meeting February on the cusp of March – Leadership in Housing
Renaissance Housing Corporation Board Meeting February On the Cusp of March – Leadership in Creating Housing in Colorado
This is the edge of nowhere for many who have no chance and who will never be able to be stable safe and sound. There is simply too little housing to meet the needs of the people who struggle to survive. There are over 1,000 people daily without a safe place to lie down and stay every day. Many people remain in limbo traveling throughout the night and finmding an uneasy place to rest, change their clothing and take care in basic daily living skills.
North Colorado Station
Harvey sung from Ft. Lyon 19 in a recovery wing recovery support – Temporary certificate of occupancy – final certificate
no stairs or railings at the front of building. added additional door for handicapped access. Several doors exist. ADA compliant.
29 targeted for families. 25 social impact bond SIB, funding available at end of the week. Additional 40 housed in scattered sites. 25 VASH vouchers. Coordinating with the service staff on site.
People will move in by end of the Month of March. Completely occupied already.
Harrison 19 units on Harrison who will be housed on first floor. AA recovery peer support self-governance. STUDIOS 1 space efficiencies.
1 more closing financially after 90 days pay off construction loan replaced by private activity bond risk share loans (2) by mid-summer
3 case managers + one Veterans case manager
simpler cooling and heating system packaged units as in hotels energy efficient quieter, VRF systen traditional packaged three system for hallways. central heating system.
no packaged roof top. increased energy efficiency. next building higher R value tighter and more efficient.
cost of WIFI high side: fiber optics coming into the building extreme connection speed century Link will be a suppler of the Internet
SUN metering” Model and see whether efficiences are being caught.
chosen all units external subsidies – utility costs are in the rent everything will be included PTAC
get behind on utility bills because of 15 or 20 dollar bill then there is a burden for the property.
meeting of this board at the site. furniture will be out there.
Renaissance Downtown Lofts Federal Home Loan Bank of San Francisco – $1,000,050. Federal Home Load Bank regulatory FDIC member banks arer aligned with one of those systems affordable housing system regional entities, Menbers are a part of different regions. It has been around for over twenty years. Commercial Federal savings. Different ways that banks have treated diverse funding for affordable Housing they have more money than any other board.
MOST of these will be 1 bedroom units $8.6 million serving 25 people housed at Downtown Lofts there will be 25 units in scattered sites. completed in 18 months. DHA 50 project based vouchers and DHA another 50 vouchers.
working poor instead of chronic homeless Brooks believes 1 Lincoln Park some residents are supportive others are not.
can’t do the project without their money and always that we have the money no matter what
Application is due in March – APRIL at latest ground breaking
construct of the podium through the first floor
second application will be for the additional floors
still don’t have clarity in two phases.
WELLLS AFARGO HAS BEEN TURNED LOOSE Financing sign.
financing partners: US BANK 49% participation AND WELLS FARGO equity controlled construction without enhanced equity there will be no property to construct. significant risks separating out the equity in the construction. US BANK went back one more time
syndicate the loan: structure for both parties sell off a portion of the construction will be born by US BANK. US BANK asked to ,55 based origination points above the liability. ,01% difficult to justify to pay more procurement policy OMB
The Merchant of Venice would be in AWE for a pound of flesh
$195 a square foot pricing is similar between the Colorado Station and Downtown Lofts
financing is coming together LTHC side of this –
Garfield duplex on the market and i person is around the corner functionally obsolete HUGE LOT zoned friendly
tax credit property 1993 7 units scattered site on Glenarm and three houses on ___________.
CHFA release them from the land use from CHFA allow us to do this as a contract sale CHFA markets property for a year.
someone in the year could bid on the property. and then CHFA will allow the property to be used for something else. 2017 will be bale to invest in something else. MARCH 22 at North Colorado Station at 4 p.m. Contacting Toni to coordinate this there.