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CCH – Renaissance Housing Corporation Board of the Colorado Coalition for the Homeless september 2016

September 27, 2016

REI   Wheatridge  Cyclery  w.  38TH  AVE.

 

CCH – Renaissance Housing Corporation Board of the Colorado Coalition for the Homeless september 2016

Toni Lewis <tlewis@coloradocoalition.org>
X  Alan Robinson <alan.robinson@efirstbank.com>,
X  John Pappas <jpappas37@yahoo.com>,
X  John Parvensky <jp@coloradocoalition.org>,
X  Randle Loeb <randleloeb@gmail.com>,
X  Bill Windsor <bwindsor@coloradocoalition.org>,
Jim Winston <jjwin05@yahoo.com>,
X  “darrell@aldenbrownco.com” <darrell@aldenbrownco.com>,
X  Benjamin Kuruvila <benjamin.kuruvila@usbank.com>,
X  Grant Muller <grant@yourspaces.com>,
“3035905721@vtext.com” <3035905721@vtext.com>,
X  Norman Haglund <normhaglund@comcast.net>,
X  Patience Crowder <pcrowder@law.du.edu>,
X  “lelandhansen@hotmail.com” <lelandhansen@hotmail.com>,
“7205192875@sms.mycriket.com” <7205192875@sms.mycriket.com>,
X  “futurejohn@rocketmail.com” <futurejohn@rocketmail.com>,
X   Komal Vaidya <komalpvaidya@gmail.com>
X  “don l. hartman” <dhartman@coloradocoalition.org>,
Jamila Burleson <jburleson@coloradocoalition.org>,
X  “Kuhl T. Brown” <kbrown@coloradocoalition.org>,
X  “brooke@yourspaces.com” <brooke@yourspaces.com>,
X  Pete Stoller <pstoller@coloradocoalition.org>

The next meeting of the Board of Directors of the Renaissance Housing Development Corporation will be held as follows:

 

Date:            Tuesday, September 27, 2016
Time:           4:00 p.m. – 5:30 p.m.
Location:      2111 Champa Street, upstairs conference room

 

Please call or email me by close of business Monday, September 26th to confirm your attendance.  resident 

 

JOHN  from Uptown Lofts resident

Quorum met:  

deferred minutes

  • Downtown Lofts:  

Broadway and Stout  southwest corner

relocated electricity  September 20th  accomplished

Billed 5% and that is how much has been built  foundations

 

a long alley removed foundation wall

moving along

will be shutting down water supply  shutting down adjacent buildings  Health Center and older Stout Street will be closed at NIGHT

fire watch  fire department has to be on site during the time

FEDERAL HOME LOAN BANK  $1.5 million  MOVED FORWARD

SEMI ANNUAL SURVEY COMPLETED  CARRY OVER APPLICATION FINISHED LAST FRIDAY

draw #3  HAS BEEN SUBMITTED

Grand Hyatt  took pictures from the 34th floor  cement is recyclable

 

concrete lining  –  ground breaking was held  at the beginning of September

 

Director of the Division of Housing

 

Contractor:  cost implications  last minute design requirements  finalizing the budget

fits in their requirements for the affordable housing proposed development –  proposed equity from Wells Fargo

 

$1,050,000.00

LITHC  LOW INCOME HOUSING TAX credit

 

OFFICIAL START DATE AUGUST 1,   COMPLETION AUGUST 1, 2017

 

most of these people are men.

 

Social Impact Bonds  SIB  chronically  homeless individuals  250  housed with housing vouchers.  Building department  causing some impact with the investors  –  people will be housed early in 2017.    WE WILL START housing people in later 2017  bridge housing  moving into downtown lofts.

 

some benefits  stability  lease up more without issues  – house people earlier with scattered housing

 

88  referrals  housed 55 people already  in the process of getting housed 20 more people  2 not engaged and on a pathway to being housed.

 

serve 65  people  capacity  –  hiring for the second team  

 

level of need is higher with this population and therefore these people are more able to take advantage.  

 

Housing First  program  longest history of being without a safe place  – psychological shift asking for housing  – randomly assigned these people  they did not apply for housing and a housing search

 

HOUSING DO YOU WANT THAT POSSIBILITY?  skilled out reach  successfully moved people

FINANCING RENAISSANCE NORTH COLORADO STATION  30 day due diligence end of October  move this up we get the funding for equity  –  US BANK  simplifying steps to make this process easier.  2nd capitol installment  permanent loan amounts taken down by the end of October.

 

CHFA  risk share  approval process multiple issues  no sense  of urgency  at _______. lease up was completed.    more than cash flowing  –  meeting approvals.  

 

8609  form for tracing this propwerty  focus on the next one

 

Perspective Properties  1208  Lakewood     LOCKED IN  studio _____ looking at the property more favorable financially because it is a suburb  station within a 1/4 block

 

anti  homeless area  –

NEW SITE IN JEFFERSON COUNTY  end of G line Ridge Home SITE    was a mental health  site in the 70’s  west of KIPLING  

4150  ELATI     NEW PROPERTY AT I-70  SIGN COMPANY ON THE SITE

 

PERSPECTIVE PROPERTIES  DAVID ZUCKER  AT SEKORA SQUARE 

 

YORK PROPERTY    RECEIVER HOLDING IT UP  –  MR  TABOR OUT OF JAIL

 

federal  PROJECT LAKEWOOD UNION BLVD

 

WHY UNSUITABLE FOR MCKINNEY VENTO ACT  

 

WE WERE OFFERED A CHUNK OF THE REAL ESTATE.  hud DETERMINING SUITABILITY  REQUIRED UNDER TITLE v  BECAUSE A FLAMMABLE STORAGE TANK WITHIN 500 FT  

 

ST ANTHONY’S  LEFT IT ALONE TITLE V  LITIGATION:  

 

LOCATION IN PRIME AREAS  DEVELOPED IN NEXT USE  RARE THAT THERE IS A SUITABLE PROPERTY.

 

INAPPROPRIATELY FOR MARKET HOUSING  –  59 ACRES  JUST RELEASED. 

 

BUILT THE FEDERAL  CENTER  ONLY A PORTION NEEDS REMEDIAL REMEDIATION   NO PART OF THE FEDERAL DEVELOPMENT THE FEDERAL LAND  CLOCK TICKING ON RESPONSE TIME 

 

lakewood  WORKS FOR OUR FINANCING  4%  AND 9%  $100.00 A SQUARE FOOT.  AURORA  SILENT FOR A WHILE

 

MOVEMENT INCREASING LOCAL FUNDING IN denver  $15 MILLION DOLLARS NEXT YEAR FOR AFFORDABLE HOUSING 

 

LOOKING FOR housing trust fund  to meet these gaps  1 TIME MARIJUANA FUNDING 

 

HOUSING OVER BUILT AT high end  BANKS ARE STEPPING AWAY  –  TIME AND TIME AND MORE TIME

 

strategic plan EXPANSION OF HOUSING HOMELESS FAMILIES AND AT RISK PEOPLE GENERALLY  100 UNITS FOR NEXT 5 YEARS  UP FRONT CAPITOL  THAT CAN BE INVESTED  LAND THAT WE CAN GET UNDER CONTRACT  LAND BANKING GETTING AHEAD OF THE CURVE SECOND OR THIRD PROPERTY ACQUIRED  GET NECESSARY TAX CREDITS 

 

NORTHERN TRUST BANK  HELPING WITH PREDEVELOPMENT   cdfi  5 0R 6%    FUND RAISIING partners to 5 million dollars  presentation to wells fargo community institutions leveraging housing tieing up property around the region

 

ANYTHING AGAIN UP NORTH?

 

2 – 5 million dollars  unsecured loan  

CHASE

hospitals  

foundations

health care for people who are without a safe place to live

DENVER HEALTH ST> <joe’s>  <DENVER HEALTH are on the list

underwriters  more skittish  prices may LOWER OVER TIME

 

always there are risks  parcel of land that was otherwise developable  spend couple $100,000 more

 

not too advanced in land prices  searching for price to  be listed before they list

 

Transit Oriented Development SITES 

 

MAY NOT BE ZONED RIGHT NOW  INEVITABLE  THAT WILL GO THAT WAY

 

filings for change of zoning but the changes have not yet been made.

 

pipeline not for gas or oil

 

some possible investors  community reinvestment banks  because of their required community 

 

CENTRAL CITY CONCERN IN PORTLAND OREGON  –   traditional and non-traditional investors

 

4 profit market stalled  affordable housing  will be looked at as an option

 

1 bed room leasing for $1,200.00   a month for a rental  instead of $1,800.00

 

some development opportunities  commitment of dollars for this  free land free equity  we can only do this with housing vouchers  $600.00 a month for their housing  they cannot afford this level of rent which is half the norn at the point we are at.

 

Jefferson County Housing Director  – Ridge Home Housing Property  AURORA HAS A DIFFERENT LANDSCAPE

URBAN PEAK  development  partner with them with their real estate.

 

greater than 1 project by 1 project  approach

 

parking lot next to the MERCURY CAFE  –  at this point we need it for parking  NIMBY response concentration of efforts in this area. CALIFORNIA parking lot 4 years commercial loan first bank of Santa Fe  Midland Trust  loan comes due in DECEMBER  will they give them an extension.  

950,000  850,000  paid down to 750,000  balloon payment date  – we lose potential leverage

 

continue to work with the bank that continues to have the loan 4.69 %  lock that in in next 5 years.

 

value at this time  85.00 a sq foot,  2000  block 7 million dollars 150 dollars a square foot.  marked up  100%

 

owned by housing authority.  low loan to value at the moment. 

 

roll it over     –  too small a foot print 100 x 125 foot.  not a corner site.  additional housing NIMBY  concentration  expansion as a health center  MERCURY unhappy with CCH  –   sleeping behind the health center.  

 

we should be carrying all of the costs of security.   

 

adjoining lot owner for expanding  not motivated to sell.     TiMING IS EVERYTHING  abutted southwest to Mercury Cafe.

 

Padilla owns   a lot of parking lots around the way that they are willing to sell.

 

nearing retirement constantly looking for the right opportunity.  used for people who work there  

 

contributing to the work on this  proof that we are grounding required  located proof  cave on that come to settlement on this  draw they are asking for   STOUT STREET  Keiwit end of these issues  same issue doors and facility costs that need to be addressed.

 

integrated health services  expand dental services expanded services reclaim space for additional programming  convert one room into dental care suite

 

MEASUREABLE OUTCOMES  # of outcome measures  presentation to the CCH BOARD  11 bench marks for expansion health services

 

He is talking about the measurements of readmissions  children and families included in this was a mistake  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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