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From YouTube: Housing Opportunity Fund Meeting - 9/1/22
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A
Good
afternoon
and
welcome
to
the
september
meeting
of
the
housing
opportunity
fund
of
the
ura
of
our
advisory
board
meeting,
we
are
here
in
person
for
well
at
least
partially
for
the
first
time
since
march
of
2020.
So
we're
excited
to
be
here
today
we'll
go
ahead
and
get
started
with
the
roll
call.
B
A
Okay,
so
that
was
oliver
for
the
minute
taker.
Dr
jamil
bay
joanna
deming.
Here
knowledge
bill
hudson
has
resigned
as
he
has
changed
position.
Jerome
jackson.
C
A
A
Okay,
we
are
adjusting
the
agenda
a
little
bit
as
we
have
yet
to
reach
full
quorum.
We
do
not
have
any
registered
public
commenters,
and
so
we
will
move
along
to
agenda
item
e,
which
is
discussion
of
our
four
cell
development
program.
Evan
we'd
like
to
get
us
started.
D
Oh
there
we
go
sorry,
it's
a
learning
curve.
So,
yes,
I
am
here
to
discuss
our
development
programs
overall,
both
the
for
sale
development
and
the
rental
gap
program.
There's
also
some
developers
that
have
joined
us
today
to
give
some
insight
into
how
these
programs
might
be
working
for
them
or
what
tweaks
could
could
occur.
D
So
the
way
that
I'm
thinking
of
laying
this
out
is
talking
first
about
the
for
sale
development
program,
how
it
works
and
why
it's
needed
in
a
bit
about
the
utilization
of
it
and
then
doing
something
similar
for
the
rental
gap,
program
and
kind
of
opening
up
the
floor
for
discussion.
But
if
there
are
questions,
as
this
goes
on,
please
feel
free
to
chime
in
and
and
bring
up
any
concerns
or
questions.
D
So
we've
got
the
for
sale
development
program
which
provides
construction
financing
to
development
teams
that
are
going
to
construct
a
rehab
for
sale
units
that
are
ultimately
going
to
be
sold
to
people
at
or
below
80
of
the
area
median
income-
and
this
is
typically
dispersed
as
grant
financing
that
bridges
the
cost
between
the
total
development
costs
and
what
the
affordable
sales
prices
of
that
unit.
And
then
the
rental
gap
program
is
oftentimes
gap
filler
for
multi-family
development
projects.
D
That
will
have
some
type
of
extended
affordability
component
of
the
project
overall,
and
this
is
put
out
exclusively
as
loans
that
are
typically
low
interest
or
no
interest
and
have
cash
flow
repayments.
D
So,
starting
with
the
for
sale
development
program,
as
I
mentioned,
it
benefits
households
at
or
below
80
of
the
area.
Median
income
right
now,
as
the
guidelines
are
written
up
to
70
000,
can
go
towards
a
unit
that
is
an
existing
structure,
so
a
rehab
or
up
to
a
hundred
thousand
dollars
per
unit
for
new
construction.
D
We
do
do
pre-development
loans
as
well
out
of
this
program.
We
actually
saw
one
last
month
and
that's
up
to
thirty.
Three
thousand
dollars
per
unit
or
a
hundred
thousand
dollars
per
project
of
pre-development
financing,
extended
affordability
does
come
along
with
this
program,
99
years
for
units
that
are
assisted
with
a
grant
15
years
for
units
that
are
assisted
with
a
loan,
so
to
actually
kind
of
show
why
this
program
works
or
what's
needed
or
why
it's
needed.
D
I
figured
we'd
start
with
looking
at
kind
of
a
representative
project
that
it
could
go
into
so
on
the
left
side
of
the
slide
here,
we'll
see
a
you
know:
mock
budget
for
a
five-unit
new
construction
project,
and
it
gives
you
an
idea
of
the
type
of
things
that
need
to
be
accounted
for
in
these
projects,
so
obviously
acquisition
improvements
to
the
site,
we're
also
seeing
an
increasing
utilization
of
modular
builds
off-site
to
kind
of
up
the
sometimes
energy
efficiency
of
of
these
units
and
oftentimes
lower
price.
D
But
you
know,
there's
there's
still
a
lot
of
stick
build
going
on
as
well,
and
then
various
fees
and
charges
so
overall
for
these
five
units,
we've
got
development
costs
a
little
over
two
million
dollars.
D
So,
on
the
right
side,
if
we
were
to
kind
of
play
out
what
would
happen
if
these
all
five
of
these
units
were
sold
to
a
household
at
or
below
80
percent
of
the
intermediate
income,
we
could
project
that
that
affordable
sales
price
would
be
around
155
000.
It's
basically
the
end
amount
that
we'd
want
to
probably
have
a
household
finance
through
a
traditional
first
mortgage.
It
kind
of
can
vary
based
on
the
interest
environment
like
what
the
their
end
monthly
payment
might
be.
D
So
it's
it's
not
set
in
stone,
but
on
a
kind
of
like
per
project
basis,
we're
figuring
out
what
that
affordable
sales
price
is
so
the
revenue
that
they
would
generate
from
that
155
000
times.
Five
is
775
thousand
dollars.
That
is
much
less
than
the
two
million
dollar
price
tag
of
the
project,
and
if
we
compare
that
to
a
market
rate
sales
scenario,
let's
say
those
same
homes
are
being
sold
for
450
000.
D
If
you
sell
five
of
them,
you're
going
to
generate
about
2.2
million
dollars
in
revenue,
so
right
there
from
the
sales
alone,
you've
pretty
much
covered.
What
you
need
to,
if
you're
a
market
rate
developer
and
you've
got
some
profit
built
in
as
well,
but
it's
much
more
difficult
when
we're
talking
about
doing
affordable
home
ownership.
So
if
we
go
to
the
next
slide,
it's
a
very
basic
message.
But
in
these
projects.
D
With
the
the
sources
they
always
have
to
equal
the
uses
and
we've
got
uses
of
a
little
over
two
million
dollars.
We've
got
revenue
of
775
000,
so
additional
funding
is
needed.
There's
got
to
be
some
fundraising
that
goes
on
so
on
the
next
slide.
We
take
a
look
at
sort
of
what
some
of
the
usual
suspects
are.
So
we
keep
that
budget
on
the
left
side
of
the
uses.
D
Now
the
sources
in
a
traditional
for
sale
project
that
we've
been
seeing,
there's
oftentimes
the
federal
home
loan
banks,
affordable
housing
program.
We've
got
that
penciled
in
at
around
700
thousand
a
construction
loan
from
a
traditional
lending
institution
around
570.
D
A
grant
from
a
philanthropic
source
phfa
operates
a
fair
program
that
often
is
involved
in
most
of
our
for
sale
and
rental
deals.
D
This
hypothetical
developer
is
accessing
a
line
of
credit
as
well
and
then
also
generating
some
fees
on
the
transaction,
which
can
also
show
up
as
a
source
here
so
that
cuts
to
about
1.5
million
dollars
that
they've
raised
they've
got
to
pay
that
money
that
they've
borrowed
back
to
the
bank.
So
that's
going
to
be
eaten
up
by
the
sales
cost
or
the
sales
revenue.
Maybe
a
little
bit's
left
over
to
kind
of
pay
the
developer
for
their
time,
but
still
there's
a
shortfall
about
520
000.
D
So
we
solve
for
that
with
the
for
sale
development
program
on
the
next
slide,
if
you
would
chad
and
so
among
these
five
units,
if
we
were
to
create
to
make
a
grant
for
five
hundred,
twenty
thousand
that'd
be
a
hundred
four
thousand
dollars
per
unit,
which
is
actually
four
thousand
dollars
over
our
current
program
limits.
D
But
something
we
would
you
know,
seek
a
waiver
for,
but
that
that
would
be
how
a
deal
like
this
comes
to
fruition
when
you
are
delivering
affordable
housing
for
sale,
housing
to
the
marketplace,
so
there's
kind
of
a
whole
host
of
programs
and
sources
that
have
to
be
accessed
and
utilized
in
order
to
bring
it
to
fruition
yeah.
If
we
could
now
talk
a
bit
about
the
utilization,
this
program
has
been
operational
since
june
of
2019..
D
Overall
there's
been
about
3.5
million
dollars
in
commitments
or
expenditures,
the
average
investment
from
the
hof
since
the
inception,
this
program
per
unit
is
about
seventy
thousand
dollars,
but
I
will
say,
as
far
as
like
the
ebb
and
flow
of
how
this
program
has
been
utilized
after
or
yes
after
the
coveted
pandemic
started,
there
was
kind
of
a
lull
in
getting
applications.
D
D
So
that's
more
around
like
eighty
thousand
dollars
and
up
for
the
rehabs
that
are
coming
through
the
door,
what
they're
asking
from
hof
and
then
it
can
go
well
over
a
hundred
thousand
dollars
for
new
construction
that
as
far
as
what
they're
looking
for
from
hof,
so
right
now,
we've
currently
got
around
1.3
million
dollars
like
unencumbered.
D
We
know
several
applications
and
projects
in
the
pipeline
that
are
out
there,
so
this
is
exclusive,
or
this
is
not
obviously
accounting
for
the
2023
allocation
plan,
which
will
be
you
know
up
for
discussion
in
the
next
couple
of
months.
So
it's
a
pretty
healthy
pipeline
that
we
continue
to
see
increased
interest
and,
frankly,
increase
utilization
of
as
we
move
forward
here.
D
As
far
as
some
of
the
considerations
about
how
we
might
tweak
this
program,
we
do
have
the
opportunity
you
know
at
any
point
to
alter
guidelines
and
I
think
if
we
were
to
consider
changing
the
guidelines,
we'd
probably
want
to
up
the
per-unit
funding
by
some
amount.
You
know
we
can
discuss
that
and
do
you
know
some
workshops
with
the
advisory
board
and
staff
on
what
that
would
look
like,
but
we,
as
you've
all
witnessed,
had
to
take
quite
a
few
projects
for
waivers.
D
But
then
also,
I
think
this
program
was
designed
to
do
a
lot
of
very
traditional
for
sale,
housing,
acquisition,
rehab
or
new
construction,
and
we
have
been
hearing
interest
about.
You
know
other
concepts
that
are
still
related
to
for
sale
housing,
so
that
would
include
limited
equity
co-ops
where
people
don't
necessarily
buy
houses,
but
they
buy
shares
and
live
in
a
unit
in
a
in
a
structure,
conservatorship
and
then
also
auxiliary
dwelling
units
which
allow
for
kind
of
like
a
mother-in-law
suite
if
you
will
or
a
separate
structure
altogether
on
the
property.
D
So
right
now
the
guidelines
don't
really
mesh
well
with
those
types
of
programs,
and
so
I
think
what
we
want
to
look
into
quite
soon
in
the
future
is
how
to
kind
of
carve
out
some
specific
language
in
our
guidelines.
To
be
able
to
address
those
and
make
those
projects
a
little
bit
smoother
in
working
with
hof
and,
frankly,
allowing
hof
to
to
be
a
catalytic
catalytic
investment
in
projects
like
that.
So
those
are
some
initial
thoughts
on
the
for
sale
development
program.
D
D
When
it
comes
to
hof
funded
projects,
it
can
only
be
50
and
below,
and
so
that
means
that
the
the
lease
rate,
the
on
that
unit
has
to
be
less
than
one-third
of
that
household's
monthly
income,
and
we
restrict
that
through
a
declaration
of
restrictive
covenants
for
a
certain
number
of
units.
D
As
far
as
the
funding
amount
goes,
the
maximum
funds
available
through
this
program
1.
or
1.25
million,
always
through
a
loan
we've
we've
only
done
loans
through
rental
gap,
because
it's
for
in,
although
sometimes
limited,
an
income
generating
asset
for
the
owner
developer,
1.25
million
is
the
maximum
loan
and
we're
typically
seeing
more
like
400
000
to
600
thousand
dollars
for
the
average
award
and
there's
different
carve
outs.
If
someone's
going
to
serve
households
that
are
below
30,
they
can
get
up
to
60
000
per
unit.
D
D
We
do
also
have
some
funding
available
for
services
that
has
not
often
been
used,
but
we
do
have
that
ability
in
the
program
the
unit
the
the
projects
overall
have
to
have
four
or
more
units
the
property's
got
to
be
in
the
city,
obviously,
and
developers
need
to
provide
at
least
10
percent
equity
in
these
projects,
along
with
the
ura
funding
or
the
hof
funding.
D
It
restricts
the
cash
flow
of
any
project
on
an
ongoing
basis
and
the
cash
flow
that
a
project
generates
is
directly
related
to
how
much
money
a
project
can
borrow
to
actually
bring
it
to
fruition,
and
so
the
reduced
borrowing
power
for
an
affordable
housing
project.
It
creates
gaps
and
that's
when
you
need
this
soft
patient
debt
to
fill
those
gaps
so
I'll
kind
of
run
through
an
example
of
how
that
comes
to
be
on
the
as
we
go
forward
here.
So
this
is
again
a
representative
project.
D
D
I
suppose
maybe
a
little
bit
with
like
finishes
and
like
on
what
the
counters
are
made
of
and
stuff,
but
it
doesn't
make
you
know
overall,
construction,
cheaper
or
anything
like
that
to
do
affordable,
so
that
only
kind
of
exacerbates
the
the
need
for
this
soft
financing.
So
now
to
talk
a
bit
about
the
incomes
or
the
the
operating
income
at
the
property.
D
On
the
next
slide,
we
kind
of
compare
affordable
rents
versus
market
rents,
so
for
those
in
the
room,
it's
probably
showing
up
a
little
bit
small,
but
basically
we're
imagining
that
this.
This
project
has
12
one-bedroom
units
that
are
rented
to
household
data
below
fifty
percent
of
the
intermediate
income
and
then
ten
two
bedroom
units
that
are
also
at
fifty
percent
ami
those
rent
for
six
hundred
fifty
dollars
a
month
and
eight
hundred
dollars
a
month
respectively.
D
So
we
could
project
annual
rents
collected
to
be
right
around
190
000
and
then,
if
we
compare
that
to
the
market
rate
rents,
let's
say
it's
eleven
hundred
dollars
for
the
one
bedroom
units
and
eighteen
hundred
dollars
for
the
two
bedroom
units,
they're
collecting
closer,
like
375
000
in
rent,
so
like
kind
of
around
double.
Meanwhile,
we've
got
operating
expenses
at
the
property.
D
That's
utilities
maintenance,
all
the
taxes,
insurance
that
a
property
has
to
hold
and
again
similar
to
project
costs.
That
does
not
change
whether
it's
a
market
rate
or
affordable
unit.
So
we'll
see
that
that
stays
the
same.
It's
projected
in
this
project
around
131
000
a
year,
so
the
operating
income
of
each
project
is
vastly
different.
The
affordable
one
is
around
fifty
eight
thousand
dollars.
So
that's
money
left
over
after
you
know
all
of
your
operating
expenses
and
that's
money
that
could
go
towards
servicing
debt.
D
Meanwhile,
on
the
market
rate
side,
they've
got
about
242
000
left
over
on
an
annual
basis,
so
the
banks
are
going
to
size
the
loan
that
they
would
give
to
a
project
based
on
debt
coverage
ratio
often
times.
This
is
how
they
do
it,
and
so
we'll
call
that
dcr-
and
this
is
a
measure
of
a
property's
income
compared
to
the
debt
obligations.
So
a
property
with
a
dcr,
that's
greater
than
one
percent
is
considered
profitable.
D
So,
for
instance,
property
with
1.15
dcr
is
generating
15
more
income
than
the
debt
that's
owed
on
any
annual
basis,
and
banks
often
look
for
a
higher
dcr
to
kind
of
give
cushion
to
their
the
money
that
they're
putting
out
there
so
a
lot
of
times
1.15
is
the
starting
figure
for
where
the
minimum
dcr
that
they
want
to
see,
and
just
that
was
a
lot
of
language
about
it,
but
put
simply
it's
the
operating
income
over
the
debt
obligations
for
a
given
year.
D
So
if
a
property,
let's
say
in
this
case,
had
a
million
dollars
of
operating
income,
but
they
owed
eight
hundred
twenty
five
thousand
dollars
in
debt.
They
would
have
a
debt
coverage
ratio
of
one
point,
two
one
so
they've
they've
got
some
cushion
there,
they're
they're,
bringing
in
more
money
than
they
need
to
pay
out
and
that's
something
a
bank
would
want
to
see.
D
So
when
we
do
it
for
this
representative
project,
you
know
we
could
assume
a
lender
requires
a
minimum
dcr
of
1.15
percent.
Also,
for
the
sake
of
you
know,
this
example
we'll
will
estimate
that
they're
offering
a
30-year
loan
term
at
6.5
interest
so
to
calculate
the
maximum
annual
debt
service.
D
That's
where
the
operating
income
is
very
important
here
we
would
take
the
operating
income
and
divide
it
by
the
lender's
dcr.
So
we
calculate
that
on
the
left
and
the
right
sides
here
for
affordable
versus
market.
So
on
the
affordable
side,
we've
got
that
58
000
of
operating
income,
dividing
it
by
this
required
debt
coverage
ratio.
D
We
find
that
they
can
pay
about
50
000
a
year
in
debt
service
when
you
factor
in
the
loan
term
the
interest
rate
that's
coming
from
the
bank.
That
would
mean
that
the
total
loan
available
to
this
project
is
around
five
hundred
fifty
seven
thousand
dollars
when
you
do
that
same
calculation
for
the
market
rate
units
that's
closer
to
like
2.5
million
dollars,
so
there's
a
huge
difference
there
and
we
kind
of
show
that
on
the
next
slide,
because
if
we'll
remember,
the
total
project
costs
here
are
close
to
3
million
dollars.
D
So
in
the
lower
parts
of
the
slide
solving
for
the
gap
on
the
affordable
side,
we
take
the
total
project,
costs
minus
the
loan,
that's
available
to
them
and
there's
a
two
point:
five
four
million
dollar
gap.
Meanwhile,
for
the
market
rate
units,
there's
like
close
to
400
000
in
a
gap,
so
a
big
difference
between
the
two
and
then
we'll
talk
about
how
those
gaps
get
filled
on
the
next
slide
and
at
the
top
for
market
rate,
I
mean
this
developer.
D
They
could
they
don't
have
to
do
a
ton
to
fill
this
gap.
They
could
put
in
their
own
cash
or
equity
up
front
to
close
the
gap.
They
could
defer
some
of
their
developer
fee
or
they
could
bring
in
a
partner.
They've
got
four
hundred
thousand
dollars
to
fill
and
they
have
some
options
in
how
to
do
it
with
the
affordable
developer
they're.
In
a
much
more
tenuous
position,
they've
got
a
much
larger
gap
and
they've
got
very
little
cash
flow
to
work
with.
D
So
that's
where
again,
this,
this
kind
of
toolbox
honestly
comes
in
of
all
these
different
programs
that
can
be
accessed
and
are
accessed
when
it
comes
to
affordable
housing,
so
that
could
include
low-income
housing,
tax
credits,
other
tax
credits
like
historic
and
new
markets,
tax
credits,
phfa
has
several
programs
beyond
their
lie.
Tech
some
are
called
fair
and
crfp.
D
The
full
meaning
of
those
acronyms
is
escaping
at
this
moment,
deferred
developer
fee.
They
could
also
seek
some
local
tax
abatements
that
are
related
to
affordability,
oftentimes.
They
go
to
philanthropies
for
support
and
then
again,
federal
home
loan
banks
affording
affordable
housing
program
is
a
huge
part
of
this
program
of
of
many
rental
projects
that
we
see
and
the
housing
authority
as
well
has
similar
like
gap,
filling
programs
and,
lastly,
highlighted
in
a
different
shade
of
blue.
Is
the
hof
rental
gap
program
often
needed
for
a
lot
of
these
projects?
D
So
just
for
the
sake
of
solving
it,
we
close
this
developer's
gap
by
accounting
for
the
bank
loan
that's
available.
Let's
say
they
also
got
an
interest-only
loan
from
a
cdfi.
D
They
received
a
fair
award,
the
developer
loans,
two
hundred
thousand
dollars
of
their
developer
fee
into
the
project,
so
that
would
be
what
we
consider
deferred
developer
fee.
They
get
a
cash
flow
loan
from
the
hof
and
then
a
grant
from
a
foundation
and
potentially
some
tax
credits.
Maybe
it's
historic
tax
credits
for
the
type
of
building
or
it
could
be
low-income
housing,
tax
credits.
It
might
be
somewhat
of
a
small
project
to
do
that
type
of
thing
on,
but
there
are
ways
to
solve
for
this
gap.
D
D
So
the
utilization
of
this
program,
I
would
say,
starts
around
november
2018..
Typically,
we
see
non-profit
developers,
cdcs
and
for-profit
developers
that
have
non-profit
partners
that
are
undertaking
li
tech
projects
that
the
language
there
might
be
a
little
unclear
that
we
see
for-profit
developers
almost
exclusively
with
la
tech
projects.
Otherwise,
when
we're
talking
about
nonprofits
and
cdcs
a
lot
of
times,
that's
preservation,
sometimes
they're
acquiring
and
rehabbing
buildings,
but
it's
with
we're
only
really
seeing
for-profit
developers
when
it
comes
to
latex.
D
D
That
number
is
a
little
skewed,
because
a
few
of
the
projects
had
a
ton
of
units
because
they
were
like
single
room
occupancy
or
something,
but
I
did
want
to
put
that
in
there
and
then
we
have
about
five
million
dollars
currently
unencumbered,
but
we
have
a
pretty
extensive
pipeline
of
projects
that
you
know
at
any
point,
are
probably
ready
to
or
could
be
ready
to
come
in
and
request
funding
from
hof.
D
As
far
as
tweaks
that
this
program
could
undergo,
we
have
some
developers
here
who
could
speak
to
it.
But
frankly,
the
experience
that
I've
had
is
that
hof
rental
gap
program
is
pretty
flexible
and
developers
are
appreciative
of
that
and
I'm
not
hearing
a
lot
about
uses
that
we're
not
currently
able
to
cover
with
the
program.
D
So
I
would
not
suggest
any
changes
to
the
eligible
uses
or
the
funding
limits
right
now.
I
think
the
biggest
challenge
with
this
program
is
timing
up
the
commitments
to
be
as
close
to
closing
as
possible.
Right
now
we
don't
have
all
of
the
funds
encumbered,
so
we're
not
in
a
spot
where
we
need
to
start
kind
of
evaluating
outstanding
commitments
that
have
not
yet
closed,
but
should
we
get
to
that
point
where
maybe
we
have
to
shut
down
our
rfp?
D
That's
currently
rolling
for
this
program.
I
think
we
would
have
to
take
a
pretty
hard
look
at
that
and
figure
out
if
we
need
to
you
know,
revoke
any
old
commitments
or
something
like
that
in
order
to
kind
of
give
everyone
a
fair
shot
at
this
program.
So
I
think
that's.
The
biggest
challenge
we
have
with
this
program
is
just
figuring
out
when
to
get
a
project
before
the
board
for
approval.
D
You
know
we
don't
want
to
do
it
too
early,
where
it's
just
going
to
take
forever
to
close,
because
they're
still
fundraising,
but
also
it's
oftentimes,
very
important
to
have
a
commitment
like
the
hof
rental
gap
program,
to
help
to
fundraise
for
other
sources
as
well.
So
a
delicate
balance
there
for
sure.
D
So
today
with
us,
we
have
ed
nesser
from
the
city
of
bridges,
community
land
trust
who
is
focused
on
for
sale.
Housing.
Liam
robinson,
I
believe,
is
joining
us
via
zoom
from
salas
development.
They
have
worked
with
hof
for
the
sheptitsky
arms
project
in
brighton
heights
and
then
stefan
johnson,
from
our
kendall
development
group,
who's
undertaking
a
21
rows.
Project
with
hof
is
a
partner
in
that
and
then
on
the
advisory
board.
D
We
have
development
representatives,
so
derek
tillman
who's
here
in
person
from
bridging
the
gap,
development
and
then
lena
andrews
from
action
housing
as
a
non-profit
developer
representative.
I
do
also
think
rick
sports
is
on
the
line
for
something
else,
but
he
is
very
involved
in
these
types
of
programs
as
well,
so
I'm
going
to
wrap
it
up
there.
D
E
Thank
you
so
much.
I
know
a
lot
of
work
went
into
putting
this
together
and
it's
got
a
lot
of
great
information.
I
received
a
question
from
one
of
our
community
members
and
I
think
it's
a
great
one.
Does
it
make
sense
for
the
hof
to
look
at
requiring
developers
who
are
using
the
rental
gap
program
to
accept
housing,
choice
vouchers?
It's.
F
E
Part
of
the
expectations
or
requirements
now,
but
is
that
something
that
would
make
sense
going
forward.
G
This
is
liam
paul
robinson,
with
status
development.
The
chatinski
arms
project
has
a
100.
H
G
G
We
either
have
a
hap
contract
or
do
pursue
the
addition
of
housing,
choice,
vouchers,
typically
through
the
project-based
voucher
program
and
working
with
the
local
housing
authority,
and
we
have
had
a
couple
consultant
jobs
recently,
where
we
have
advised
our
clients
to
who
are
typically
like
cdc's
or
other
non-profits,
to
pursue
adding
a
housing
choice
voucher
through
the
project-based
voucher
program
through
the
local
housing
authority.
G
So
it
typically
is
a
you
know,
betterment
to
the
building
and
the
tenants
as
well-
and
you
know,
on
top
of
being,
I
think,
looked
at
in
the
community
as
something
that
was.
You
know,
stabilizes
the
building
and
therefore
the
neighborhood.
So
we
are
definitely
all
for
you
know
trying
to
pursue
those
types
of
funds,
and
I
guess
in
our
experience
you
know
so.
Salesforce
is
located
in
cleveland
ohio
and
we
do
most
of
our
work
in
ohio,
working
with
the.
G
Agency
and
they
do
not
have
any
other
similar
requirements,
though,
like
for
this
example
with
ura,
like
their
ofa,
doesn't
have
any
requirements
to
have
housing
choice,
voucher
to
be
included
in
their
applications,
but
they
do
often
have
incentives
to
have
that
where
you
can
get
more
funding
or
or
you
can
have
to
be
apply
for
different
types
of
funding
depending
on.
If
you
have
rental
subsidy
programs.
I
Yeah,
I
want
to
reiterate
that
I
agree
with
everything
that
he
just
said
and
action
housing
we're
a
non-profit.
It's
our
policy
to
accept
housing.
C
I
For
you
know,
housing
people
at
60
of
ami
below
almost
all
of
our
portfolio
is
affordable
and
it's.
I
So
we
also
try
to
pursue
a
kind
of
project
label
subsidy
whenever
we
can-
and
we
always
accept
vouchers-
and
I
I
don't
know
how
other
developers
would
react
to
that
being
a
requirement.
But
I
can't
imagine
that
they
wouldn't
want
to
accept
them
because
they
help
they
help
the
functioning
of
the
building,
and
then
they
also
help
the
tenant,
particularly
in
supportive
housing
buildings
where
we
have
supportive
housing.
It's
especially
important
there.
J
I
I
would
just
add
to
that,
as
in
lina
said,
most
li-tech
projects
have
or
include
housing
choice
vouchers,
so
it's
kind
of
thought
to
be
a
component
of
it.
However,
there
are
times
where
there's
still
non-li-tech
units
you
know
rented
to
folks
who
who
don't
have
a
housing
choice
voucher.
However,
the
rent
is
still
restricted,
so
I
don't
want
to
create
an
unintended
consequence
in
that
case.
The
other
thing
is
so
I
think
it's
a
good
idea
to
encourage
the
use
of,
but
not
necessarily
a
restriction.
J
The
other
thing
is,
I
know
this
past
round.
We
really
focused
on
doing
more
preservation
deals
and
in
those
preservation
deals
you
have
a
lot
of
noaa
noaa
units
naturally
occurring
affordable
housing
in
these
units.
Definitely,
I
think
a
lot
of
folks
use
housing
choice,
vouchers,
project-based
vouchers,
but
again
the
rents
are
restricted
and
can
just
go
to
folks
who
may
not
make
as
much
but
still
don't
have
a
voucher.
So
there's
there's
still
a
a
good
part
of
the
population
that
kind
of
fit
into
that
arena.
J
So
I
think
we
have
to
think
about.
How
can
we
encourage
the
use
which,
again,
in
a
lot
of
cases,
that
the
voucher
rents
may
even
be
higher
or
health
projects
like
latex,
but
then
there's
other
situations
where
it
could
actually
hurt
some
individuals
who
don't
do
not
have
a
voucher,
but
also
don't
make
enough
to
afford
a
market
rate?
So
so
I
would
because
of
all
of
those
nuances.
E
A
Joanna,
can
you
repeat
your
question
you
broke
up
for
most
of
it.
K
Just
that,
I
think
some
requirement
could
be
good.
You
know
not.
C
K
Single
unit,
but
you
know
having
that
requirement-
is
good
because
otherwise
people
may
choose
none.
D
Yeah,
I
think
it's
something
that
we
can
cert,
certainly
incentivize,
but
maybe
not
requiring
again,
because
this
program
is
very
flexible.
It's
worked
in
projects
as
small
as
like
four
units
and
as
big
as
like
over
200,
so
I
think
it's
it's
probably
best
to
not
have
it
be.
You
know
absolutely
definite
that
people
have
to
accept
choice
vouchers,
but
we
can,
on
a
case-by-case
basis,
understand
why
the
choice
would
be
made
that
they
wouldn't
be
incorporating
that
in
their
project.
L
As
lena
said,
we're
getting
to
the
point
now
where
the
so-called
affordable
rental
rates
are
exceeding
the
capacity
of
people
to
pay
when
they're
working
at
hourly
wages
of
15
an
hour
or
less.
So
I
don't
always
think
that
the
housing
authority
does
a
terrific
job.
With
the
voucher
program,
we've
had
a
few
businesses
where
tenants
have
lost
where
their
paperwork
has
been
lost
by
the
housing
authority
and
they
were
ejected
from
the
voucher
program
wrongly,
and
we
had
to
go
back
and
correct.
All
of
that
and
that's
a
tremendous
hassle.
L
I
can
tell
you
so
to
make
it
mandatory.
I
think
would
overlook
the
fact
that
the
housing
authority
itself
has
to
be
able
to
perform
on
a
consistently
high
basis,
and-
and
I
think
again,
we
accept
vouchers
merely
because
we
know
that
the
tenants
that
we're
looking
at
could
not
afford
the
units.
Otherwise,
even
though
they're
classified
as
affordable.
K
I
guess
we
wouldn't
necessarily
be
requiring
them
of
the
developer,
just
that
if
someone
applied
with
a
voucher
that
they
would
accept
them.
L
A
Well,
I
guess
I
have
a
concern
that
blends,
ricks
and
and
derricks
together,
which
is
due
to
administration
and
just
the
scarcity
of
vouchers
that
we
could
cut
out
a
large
quantity
of
the
people
that
we're
trying
to
help,
because
every
time
the
voucher
program
is
up.
You
know
every
time
the
application
window
opens.
A
It's
flooded
and
there's
always
countless
people
that
didn't
make
the
list
and
then
didn't
get
vouchers,
and
if
we're
requiring
that,
on
top
of
affordability,
that
it
is
also
voucher
based,
where
are
those
individuals
to
go?
A
If
it's
already
going
to
be
a
naturally
occurring,
affordable
or
it's
already
gonna
be
affordable,
because
they're
participating
in
our
program
anyway,
the
rents
would
then
be
within
reach
more
or
less,
maybe
not,
but
compared
to
a
market
rate
unit
that
they
would
have
to
find
elsewhere
or
leave
the
city
that
this
is
part
of
the
problem
with
our
descending
minority
and
low-income
numbers
in
the
city
of
pittsburgh
is
that
folks
are
moving
outside
the
city
when
the
rents
get
too
high.
A
So
I
just
want
us
to
be
to
be
mindful
of
unintended
impact
on
the
folks
that
we're
trying
to
help.
I
think
that,
oh
sorry,
I'm
gonna
say
maybe
something
to
think
about
as
part
of
our
rfp
committee
when
we're
looking
at
ways
to
modify
the
application
where
it's
a
bonus
but
not
required.
A
I
don't
know,
but
just
just
that
I
just
want
to
put
that
out
there,
because
I
think
we
could
easily
cut
out
a
large
number
of
people
that
need
these
units
if
we
require
vouchers
and
folks
can't
get
them.
I
M
In
the
work
that
we
had
done
in
the
run-up
in
the
studies
to
form
the
hmf,
that
almost
50
percent
of
the
vouchers
were
being
returned
to
the
house
of
authority
because
landlords
wouldn't
take
it
for
a
variety
of
reasons,
yet
it's
an
additional
bunch
of
tasks
which
have
to
do
with
the
housing
authority,
which
might
not
always
be
easy,
but
it
was
also
the
market.
Rents
were
going
up
so
much
it.
M
J
So
so
I
think
the
question
becomes:
how
do
we
respond
to
that
issue?
Do
we
respond
by
having
a
requirement
or
do
we
respond
by
incentivizing,
the
use
of
so
I
think,
there's
there's
other
ways
to
respond
to
that
issue
than
than
the
requirement,
because
we
can
create
other
consequences
or
impacts
that
don't
don't
move
us
forward
either
keep
us
where
we
are
or
or
even
have
a
negative
impact.
So
just
something
for
us
that
you
want.
D
J
I
would
just
say
thank
you
evan
for
that
thorough
overview.
J
I
think
it
was
helpful
for
for
everyone
and
probably
answer
questions
that
folks
didn't
even
know
they
had,
but
I
saw
on
there
a
potential
recommendation
or
or
something
to
think
about
for
creating
a
use
was
like
conservatorship
and
some
other
things
has
that's
been
something
that
has
been
brought
forth
where
folks
are
requesting
this
type
of
use.
I
just
was
curious
where
that
came
from.
D
Yes,
it's.
It
is
because
we've
we've
received
interest
from
cdcs
and
nonprofit
developers
that
are
trying
to
you
utilize
those
strategies,
and
we,
you
know
generally,
our
goal
is
to
create
and
preserve,
affordable
housing
and
at
times
our
guidelines
might
pigeonhole
us
to
very
particular
ways
of
doing
that.
So
we
we
would
like
to
have
the
ability
to
kind
of
expand
the
breadth
of
what
we
would
consider
to
be.
D
M
I
was
stuck
in
derek's
comment
that
did
a
really
great
job
of
taking
some
complex
numbers
and
and
and
concepts
and
and
putting
them
into
a
way
that
was
it's
pretty
simple.
I've
been
involved
in
real
estate
for
a
long
time,
and
you
know
I
think
that
that
was
sort
of
the
best
crash
course
I've
heard
in
years
funded.
You
know,
I
guess
I
think
what
I
hear
at
least
on
the
for
sale
side
is
the
recommendations
of
the
program
limits
just
because
of
costs
and.
D
Do
you
have
a
sense
of
what
the
pipeline
is
out
there
right
now
and
is
the
demand
for
this
program?
Picking
up
for
the
for
sale,
sign.
D
It
yes,
it
is,
I
mean
we
edit,
I
don't
know
if
you
want
to
talk
about
sort
of
what
city
bridges
is
up
to.
H
Yeah
sure
so
hey
this
is
ed
neuser
from
city
of
bridges,
community
land
trust.
I
think
evan
you
mentioned
in
your
presentation
that
there
was
a
lull
right
after
the
pandemic
and
nothing's
kind
of
picked
back
up.
We
felt
that
as
an
organization,
absolutely
that
you
know
our
work
in
the
next
12
to
18
months
is
definitely
going
to
increase
over
the
sort
of,
as
we
kind
of
come
out
of
the
slowdown.
That
happened
immediately
out
of
20
and
21.,
but
yeah
costs
are
astronomical
right.
H
Now
it's
yeah,
I
kind
of
laughed
when
you
had
five
units
at
under
2.5,
I
mean
if,
if
we're
coming
in
on
a
new
construction
deal
and
it's
less
than
500
000
a
house,
it's
a
good
deal
in
terms
of
where
costs
are
right
now
and
on
the
renovation
side.
H
You
know,
I
think
it's
cool
to
hear
about
conservatorship
and
how
that
you
know
might
be
able
to
source
properties,
because
you
know
we're
also
on
the
renovation
side,
we're
subject
to
the
market
price,
for
those
renovation
candidates
and
across
the
city
the
way
the
real
estate
market's
picking
up
that
impacts.
What
you
know,
shells
of
houses
cost,
and
so
if
a
renovation
candidate
was
thirty
thousand
dollars,
but
now
it's
fifty
thousand.
H
You
had
that
twenty
thousand
new
new
gap
plus
additional
construction
costs-
you
know
renovations-
are
getting
incredibly
expensive
too.
H
J
Yeah,
I
I
don't
really
have
too
much
to
add.
I
just
want
a
second
that
comment
and
just
say
that
it
also
applies
on
the
rental
gap.
Side
costs
are
exorbitant,
it's
something
we've
never
seen
before
ever
in
the
industry.
J
At
this
you
know
rate
so
the
the
limits
we
really
have
to
increase
the
limits
for
the
program
to
be
more
effective,
definitely
on
the
for
sale,
development
side,
but
also
on
the
on
the
rental
as
well.
N
So
that's
actually
one
of
the
questions
I
have
was
for
you
derek
and
for
lena
so
evan
you
talked
about
not
having
any
recommendations
as
far
as
tweaking
it,
you
said
you
wouldn't
tweak
the
program
and
that's
your
recommendation,
I'm
wondering
if,
if
the
folks
that
are
on
the
board,
or
even
the
developers
that
are
in
the
community,
would
would
you
offer
any
tweaks?
Is
the
program
too
broad,
or
is
it
like
what?
What
are
your
thoughts
in
that
space
around
that
question?.
J
I
didn't
know
if
lena
wanted
to
start,
so
it
looks
like
I'm
I'm
up.
First,
I
I
would
I
understand
the
these
projects
are
very,
very
complex
and
you
know,
even
when
we
think
about
something.
Like
a
few
moments
ago,
we
were
talking
about
a
requirement
for
project-based
voucher.
J
Evan
walked
through
an
example
of
the
extra
challenges
for
an
affordable
project
versus
a
market
rate
project,
and
it
can
all
those
additional
sources
require
additional
applications,
and
each
application
has
a
different
set
of
requirements
and
different
types,
different
hoops
that
you
essentially
have
to
grow
jump
through
adding
one
more
I
mean
is
the
brain
damage
for
any
of
these
projects
for
an
affordable
is
crazy.
That's
why
that's
why
most
developers
do
market
rate,
because
it's
just
it's
more
profitable.
You
don't
have
to
go
through
all
this
and
the
brain
damage.
J
I
mean
you
know
you,
can
you
live
longer
in
a
sense,
but
but
I
understand,
as
as
we
think
about
even
this
program.
That's
why
it's
flexibility
is
very,
very
important
because
it
it
it
helps
in
so
many
ways
the
further
we
kind
of
define
limit
it.
We
end
up.
You
know
making
it
harder
essentially
to
create
affordable
housing,
which
is
what
we're
really
trying
to
do,
but
the
cost
is
it's
just
no
getting
around
it.
Every
project
is
going
to
need
a
waiver.
Every
project
is
going
to.
C
J
A
waiver:
every
project
is
going
to
need
a
waiver,
so
does
it
make
more
sense
to
just
go
ahead
and
tweak
the
limits?
I
would
say
yes,.
I
Yeah,
I
I
agree
with
derrick
costs
are
definitely
going
up.
I
I
don't
know
I
I
do
think
they're
going
to
be
more
projects
that
need
waivers.
At
the
same
time,
we
do
have
to
think
about
the
fact
that
we
have
limited
resources
and
we
do
have
a
number
of
projects
in
our
pipeline
that
we
want
to
fund,
and
we
are
one
piece
of
a
larger
you
know.
Funding
environment
evan
had
a
really
good
slide
of
all
the
other
sources.
I
And
you
know
we
do
have
large
gaps,
they
are
getting
bigger,
but
that's
not
all
on
the
housing
opportunity
fund.
So
I'm
a
little
hesitant
to
raise
the
cap
now
and
you
know,
have
everyone
come
to
the
housing
opportunity
fund
with
bigger
requests
and
we
can
fund
fewer
projects
when
this
is
really
one
of
the
best
and
most
flexible
sources
that
we
can
use.
I
mean
there
are
a
lot
of
new
funds
that
were
created
through
the
arp,
the
american
recovery.
C
I
I
Have
about
four
million
dollars
a
year
for
the
rental
gap
program
and
if
we
give
two
million
dollars
to
one
project,
that's
two
projects
that
we
can
fund.
So
there's
so
much
demand
and
also
we've
approved.
C
I
H
I
Evan
did
a
great
job
and
I
I
do
want
to
say
as
a
developer.
We
really
appreciate
the
flexibility
of
the
ura
and
we
see
them
as
a
partner
and
if
these
projects
are
so
hard,
the
center
avenue
y
had
23
different
funding
sources
in
it,
because
it
wasn't
a
lot
of
tech
projects
and
it
is
very,
very
affordable.
I
But
that
means
23
applications,
23
sets
of
compliance
requirements,
23
reporting
requirements,
and
I
I
would
definitely
say
to
this
board:
let's
not
put
more
requirements
attached
to
this
funding,
because
we're
already
held
to
a
really
really
high
bar
by
many
many
funders,
and
this
is
a
really
successful
program.
In
my
opinion,.
J
If
I
could
just
add
even
the
nuance
of
what
everything
lena
said,
because
I
agree
with
every
everything
she
said
is
true
and
everything
I
said
is
true
and
there's
nuance
even
in
that
just
to
clarify,
I
wasn't
saying:
increase
per
limit
like
the
per
limit
cop
per
project.
I
I
think
it's
like
30
000
per
unit.
So
if
a
project
only
has
3
4
units,
then
that's
120.,
maybe
if
it
was
50
000
a
unit,
then
that
project
could
get
200
000
as
opposed
to
you
know
120..
J
H
H
You
know
our
first
application
on
a
project
is
typically
goes
into
fair,
a
phfa
that
goes
in
in
november.
It's
awarded,
if
we're
lucky
in
april,
probably
in
june,
but
that's
going
to
be
the
first
small
piece
and
then
that
june
letter
sets
up
a
federal
home
loan
bank
award
in
august,
so
we're
now
10
months
after
our
first
application
went
in
we're
submitting
our
second
application-
that's
not
awarded
until
december.
H
H
So
that's
almost
three
years
in
a
best-case
scenario,
from
the
time
that
we
submit
our
first
application
for
a
project
to
the
time
that
that
project
is
breaking
ground
and
that's
an
absolute
light,
speed
best
case
scenario
for
for
sale
development.
I
think
the
leanest
point
we're
really
excited
about
the
potential
of
arpa.
I
think
that's
going
to
be
a
huge
source,
I
just
kind
of
wanted
to
say,
like
as
you
look
at
like
the
encumbered
funds,
the
unencumbered
phones
and
think
about
future
allocations.
H
There
is
this
built-in
delay,
not
as
in
you
know
not
as
intense
as
the
lytec
application
process
in
that
timeline,
but
the
for
sale,
world
kind
of
lives
by
its
own
pattern,
and
it
can
take
two
to
four
years
for
a
project
to
go
from.
We
have
community
consensus
on
what
we
want
to
build
to
actually
getting
it
built.
A
Okay
hearing
none,
I
want
to
thank
all
of
the
developers
for
coming
and
participating
and
again
evan
reiterate
that
that
was
a
really
useful
presentation
very
informative.
Thank
you
for
your
efforts.
As
always,
and
do
we
have
we
reached
quorum?
Chad,
do
you
know
okay,
so
I
want
to
jump
back
up
to
the
review
and
approval
of
our
minutes
from
august
4th.
Has
everyone
had
the
opportunity
to
review
those.
A
A
C
F
J
A
Okay,
thank
you
and
now
we'll
move
on
to
jad,
with
our
annual
allocation
plan
update.
O
Sorry
I
had
to
walk
over
here,
so
we
decided
to
keep
the
annual
allocation
plan
survey
open
until
friday
september
9th.
So
this
is
an
additional
week
beyond
what
we
had
extended
already.
O
We're
going
to
try
to
send
a
doodle
out
to
see
what
time
would
work
best
for
people,
but
that
is
so
that
for
in
october,
at
our
next
advisory
board
meeting,
we
can
approve
the
draft
annual
allocation
plan
and
leave
open
for
comment
so
that
then
the
following
month.
We
can
make
any
final
changes
and
approve
that
final
annual
allocation
plan,
and
we
did
have
a
lot
of
events
last
week
that
they
went
well.
A
So
just
make
sure
to
answer
your
doodle
and
fill
in
your
excel
spreadsheet
when
those
come
around,
because
we
are
giving
everybody
and
giving
the
community
more
time
to
give
this
their
feedback,
which
means
we
need
to
move
expeditiously
through
our
steps,
because
it
does
need
to
get
robust
public
comment
in
october
and
then
get
voted
on
in
november
to
go
to
the
big
board,
which
is
technically
smaller
at
the
ura
and
then
city
council
for
final
approval.
A
Okay,
thanks
chad,
let's
see
so
now,
we
are
sorry
throwing
my
phone
around,
so
the
downside
of
being
in
person
is
that
you're
can
see
when
I
fumble
my
technology
will
be
an
update
on
from
derek
on
the
housing
stabilization
program.
P
Good
afternoon,
everyone
derek
kendall
morris
manager
of
consumer
lending
for
the
ura
want
to
present
some
proposed
guideline
changes
for
the
housing
stabilization
program
to
you
this
afternoon
for
your
consideration,
and
these
changes
are
in
response
to
feedback
that
we've
been
getting
from
tenant
advocates
and
some
of
the
providers
that
are
active
within
the
program
and,
within
the
you
know,
eviction
prevention,
space
and
also
just
in
anticipation
of
what
we're
already
seeing,
which
is
a
growing
need
for
the
housing
stabilization
program.
P
As
some
of
the
other
eviction
prevention
funding
sources
that
were
available
from
the
federal
government
are
now
gone
so
I'll
run
quickly
through
the
changes
that
we'd
like
to
make
and
then
want
to
open
it
up
to
your
feedback
into
to
a
vote.
P
P
P
We
also
would
like
to
increase
the
number
of
consecutive
months
that
someone
can
apply
for.
Currently
we
can
only
cover
three
months
of
back
rent
or
three
months
of
upcoming
rent
we'd
like
to
expand
that
to
six
months
of
back
renters
or
six
months
of
of
upcoming
rent
and
finally
we'd
like
to
decrease
the
time
frame
between
which
someone
could
apply.
Currently,
you
have
to
wait
five
years,
if
you've
already
applied
to
hsp,
to
apply
again
and
we'd
like
to
decrease
that
to
three
years
this,
because
the
pandemic
continues
to
be
a
force.
P
That
is,
you
know,
impacting
people
in
in
pretty
dire
ways
and
so
we're
seeing
some
people
come
back.
P
But
I'd
like
to
open
that
up
to
to
you
all
for
any
comments,
and
then
I
think
we
would
like
a
vote
on
this
today.
If
possible,
so
that
we
could
take
this
to
the
uri
board
next
week
and
implement
those
changes
as
soon
as
possible.
If
you
know,
if
you
all
support
that
idea,.
N
Thanks
for
the
derek,
what's
the
percentage
of
folks
that
are
in
that
that
are
coming
back
so
that
last
bullet
point
says:
decreases
the
level
time
frame
between
applications.
Are
there
a
lot
of
people
that
are
doing
that,
like
that's,
that
need
that
sort
of
to
come
back
into
that
space?.
P
P
They
seem
to
be
folks
who
you
know
applied
at
the
very
beginning
of
the
pandemic,
and
then
you
know,
maybe
they
still
don't
have
a
job
or
they
don't
have
the
same
income
that
they
had
pre-pandemic
they're
still
struggling,
but
it
hasn't
been
five
years.
You
know
so
they're
trying
to
figure
out
a
way
to
make
ends
meet
and
we're
just
not
able
to
assist
them.
I
could
get
you
an
actual
percentage,
but
I
I
don't.
P
A
Derek
I
had
a
question
I
guess
about
the
I
I
I
completely
agree
and
understand
why
each
of
these
is
a
recommendation.
My
concern,
I
guess,
would
just
be
in
terms
of
the
number
of
people
that
were
able
to
help
and
whether
or
not
we
would
be
say
halfway
through
the
year
completely
oversubscribed.
If
we
increase
these
numbers,
if
we
could
speak
to
to
that
a
little
bit.
P
Before
yeah
I
mean,
I
think,
the
the
other
thing
about
the
housing
stabilization
program
currently
is
that
we
do
have
you
know
a
substantial
amount
of
funding.
That
is,
you
know
it
hasn't
been
committed
at
this
point
and
that's
again,
because
we
had
these
federal
programs
that
have
been
assisting
people
in
ways
that
our
program
could
not
for
the
past
several
years.
A
P
We
don't
know
is
how
bad
things
are
going
to
get.
You
know,
and
I
just
want
to
be
honest
about
that.
I
think
you
know
we
are
seeing
a
growing
eviction
crisis
now
that
all
of
the
federal
protections
and
things
are
are
disappearing.
P
So
you
know
we
have
a
surplus
right
now
and
we
you
know,
especially
if
we
make
these
changes.
I
think
you
know
we
could
help
a
significant
amount
of
people
with
their
issues
right
now,
but
as
the
rest
of
this
year
goes
on,
we
just
don't
know
how
many
evictions
are
going
to
be
filed
and
what
kind
of
a
what
kind
of
a
world
we're
going
to
be
in.
E
So
to
both
of
those
points,
I
think
it's
important
to.
We
have
moments
in
time
and
then
we
have
long-term
planning.
So
I
think
it's
important
if
we
are
making
changes
in
the
program,
especially
with
something
like
this
amount
of
assistance
per
household,
which
we
know
everything
has
gotten
more
expensive
so
each
year.
We
should
also
be
thinking
about
that.
E
Surplus
right
now
can
get
gobbled
up
incredibly
quickly,
so
I
do
think
we
want
to
be
always
being
as
transparent
as
humanly
possible
about
those
facts
and
also
being
careful
as
to
how
we're
we're
calculating
per
household
the
amount
of
funds
that
are
that
are
being
given,
so
that
we
can,
you
know,
do
the
maximum
amount
of
good
for
as
many
families
as
we
can
at
the
level
that
actually
is
going
to
be
transformative
for
them.
J
I
would
just
add
that
what
I've
seen
is
consistent
with
these
recommendations.
You
know,
folks
that
need
assistance
far
extend
goes
beyond
three
months.
You
know
we
just
think
about
the
impact
of
covit.
J
I
mean
it's
closer
to
two
years
at
least
12
months,
so
three
thousand
dollars
three
months
doesn't
go
very
far
and
I
think
we
also
could
have
people
who
are
before
us
that
have
a
need
that
say
we
can
help
you
with
this,
but
then
that's
not
enough,
so
they're
still
kind
of
not
sure
how
to
move
forward,
because
you
know
the
funds
that
were
available
could
help,
but
but
still
the
landlord
could
have
to
take
the
same
action
essentially.
J
B
J
B
I
agree
with
you
derek
tillman
and
derek
kendall
morris.
What
is
the
likelihood
of
being
oversubscribed,
because
everything
that
they're
telling
just
stated
is
absolutely
true,
and
to
add
on
to
that,
I
don't
believe
interest
rates
will
be
going
down
anytime
in
the
near
future.
So
while
we
have
the
ability
to
provide
the
assistance,
I
think
we
should
but
again
dear
kindergarten.
B
What
is
the?
What
is
your
estimation
that
we
are
that
that
we
could
become
over
subscribed
early?
You
just
look
at
all
the
figures.
P
Well,
thank
you
for
that.
I
think
you
know
to
to
estimate
and
that's
estimating
is
also
predicting
the
future,
so
I
hesitate
to
do
that,
but
I
think
you
know
given
what
we're
seeing
right
now.
I
think
you
know
we
should
be
able.
Even
you
know,
making
these
changes.
You
know
we
should
be
able
to.
You
know,
keep
the
program
open
and
assist
folks.
P
You
know
through
the
end
of
the
year
you
know,
and
hopefully
until
we
get,
you
know
next
year's
allocation,
which
you
know
we're
currently
working
through
and
trying
to
figure
out.
You
know
how
much
pro
you
know
how
much
hof
funding
we
would
want
to
to
allocate
to
this
program
for
next
year,
and
I
think
you
know
we
want
to
pay
close
attention
to.
P
N
Mike
my
question
before
we
make
a
motion
is
really
are
we
making
a
motion
for
this
to
be
just
for
this
year,
or
is
this
a
permanent
recommendation
that
that
will
carry
over
to
next
year?.
N
N
Is
that,
would
you
recommend
that
or
would
you
suggest
something
different.
P
No,
I
tend
to
agree
with
that.
I
think
you
know
that's
the
good
thing
about
these
programs,
and
you
know
our
collaboration
with
you
all
is.
We
can
always
come
back
and
revise,
and
you
know,
take
things
back
to
previous
levels
or
change
them
again
to
something
else.
That
makes
sense
so
yeah.
I
think
you
know
evaluating
it
again
next
year
and
seeing
what
makes
sense
is
probably
the
right
course
of
action.
N
Okay
and
then
I
make
a
motion
to
accept
the
the
three
recommendations
to
increase
the
amount
of
assistance
available
for
household
from
three
thousand
six
thousand
increase
the
number
of
consecutive
months.
An
applicant
can
receive
assistance
from
three
months
to
six
months
and
decrease
the
allowable
time
frame
between
applicants,
applications
from
the
same
household
from
five
years
to
three
years
and
that
we
are
reconsidering
doing
this
again
in
a
year.
E
C
K
J
P
Yeah
yeah,
just
a
short
administrative
update
that
we
will
be
extending
the
contract
within
the
hou
homeowner
assistance
program
for
the
hilltop
alliance.
They've
been
a
strong
partner
of
ours
through
this
program
for
the
last
three
years
and
they've
almost
spent
down
their
current
contract
amount
so
we'll
be
extending
their
contract
by
another
500
000
so
that
they
can
continue
to
provide
services
to
to
the
homeowners
that
are
that
are
looking
for
assistance
through
that
program.
P
F
Yeah
all
right
afternoon,
everyone,
my
name,
is
bailey
knapp.
I
am
one
of
the
program
coordinators
for
the
homeowner
assistance
program,
just
a
quick
update,
similar
to
derek's.
In
august,
we
signed
with
the
bloomfield
garfield
corporation
for
them
to
become
a
new
program
administrator
for
the
homeowner
assistance
program,
so
they
agreed
to
complete
six
home
repair
projects
in
that
area.
So
and
obviously
the
advantage
to
that
is,
you
know
this
builds
program
capacity
for
the
ura
and
also
helps
us
better
serve
those
neighborhoods
more
closely.
So
we're
excited
to
work
with
them.
F
Rip
swords
was
here
at
the
beginning
of
the
call,
but
I
had
to
jump
off
to
give
an
introduction,
but
I
gave
the
impression
that
you
all
already
know
him.
So
that's
all
I
love.
A
A
Obviously,
we
are
transitioned
to
our
new
format,
which
is
hybrid
on
thursday
afternoons
and
we're
working
out
some
of
the
kinks
of
that,
but
I
think
so
far
so
good
and
you
know
again
stay
tuned
for
the
doodles
and
everything
as
outlined
for
the
allocation
plan
process,
and
now
we
have
jab
back
for
program,
expenditures
and
updates.
A
O
My
name
is
chad
burns,
I'm
with
the
urban
redevelopment
authority.
I
realize
I
did
not
say
that
before
so
I
apologize
so
for
our
expenditures.
So
far
with
the
small
landlord
fund,
we
have
a
couple
in
the
pipeline,
but
that's
at
the
same
place
as
it
was
last
month.
Most
of
these
have
gone
up
a
little
bit
as
you
can
see
with
the
housing
stabilization
program.
Since
derrick
was
just
mentioning.
You
know
we
had
uncommitted
funds
here.
O
O
For
the
legal
assistance
program,
here's
some
data
with
the
city
council
districts,
how
that
has
been
implemented
percent
by
ami
level,
as
you
can
see,
most
of
it's
going
to
30
below
and
then
percent
by
use,
whether
that's
full
representation,
limited
legal.
Most
of
that
is
going
to
limited
legal
at
this
time
for
down
payment,
closing
cost
assistance.
O
O
On
the
first
page
of
the
program
expenditures
I
did
indicate,
you
know
that
the
happen
hat
plus
was
about
50
committed.
However,
if
you
look
at
the
total
money
that's
been
set
aside
for
projects,
it
is
99
of
what
money
is
allocated.
So
we
are,
you
know
that
is
pretty
much
all
used
up,
not
used.
We
have
148
000
out
of
the
11
or
yeah
148
000
out
of
the
11
million
that
we
had
altogether
and
some
people
had
asked
about
some
of
the
other
types
of
funding
as
well,
so
non-hoff
money.
O
A
Okay,
any
other
announcements
for
the
good
of
the
order
from
anyone.
A
No
all
right,
then.
Our
next
announcement
is
that
october,
6th
at
2
p.m.
Right
here
in
person
will
be
our
next
housing
opportunity,
fun
advisory
board,
meeting,
we'll
be
taking
public
comment
in
person
as
well.
If
you
are,
you
can
do
it
virtually
through
the
way
that
you've
been
able
to
sign
up
for
the
past
two
years
or
you
can
show
up
in
person
in
half
your
three
minutes
at
the
podium.
N
A
All
right
we
did
not,
we
do
not
need
to
vote
on
that,
and
so
we
will
go
ahead
and
move
forward
and
thanks
everybody
for
attending.
However,
you
have-
and
I
look
forward
to
seeing
you
next
month.
Thank
you.