IURA Neighborhood Investment Committee

Ithaca Urban Renewal Agency 108 East Green Street Ithaca, New York 14850 (607) 274-6565 AGENDA IURA Neighborhood Investment Committee (NIC) 8:30 am, Friday, January 12, 2018 Third Floor Conference Room City Hall, 108 E. Green St., Ithaca, NY 14850 I. Call to Order II. Changes/additions to Agenda III. Public comment IV. Review of Minutes – December 8, 2017 V. New Business 1. Discussion of Request for Proposals – City of Ithaca 2018 HUD Entitlement Program 2. Resolution – Technical Correction to Promissory Note for 2015 Action Plan Project #1 – 210 Hancock Street VI. Other Business 1. IURA Grant Summary 2. Staff Report a. HUD Updates b. Program Updates 3. Next meeting date: January 9, 2018 VII. Motion to Adjourn If you have a disability and require accommodations in order to fully participate, please contact the IURA at 274‐6559 at least 48 hours prior to the meeting.  Ithaca Urban Renewal Agency 108 East Green Street Ithaca, New York 14850 (607) 274-6565 DRAFT Minutes IURA Neighborhood Investment Committee (NIC) 8:30 am, Friday, December 8, 2017 Third Floor Conference Room City Hall, 108 E. Green St., Ithaca, NY 14850 Present: Karl Graham, Chair; Fernando de Aragón; Tracy Farrell; Teresa Halpert; Paulette Manos Staff: Anisa Mendizabal Excused: None Guests: None I. Call to Order Chair Graham called the meeting to order at 8:30 a.m. II. Changes/additions to Agenda Chair Graham added to “New Business” discussion of correspondence received regarding the 402 S. Cayuga Street. III. Public comment None IV. Review of Minutes – October 13, 2017 Moved by Halpert; seconded by de Aragón. Unanimously approved as written. V. New Business 1. Review CAPER Committee Members discussed the 2016 Consolidated Annual Performance Evaluation Report (CAPER) for the City of Ithaca’s Entitlement Program. The CAPER notes delayed projects, such as GIAC Wading Pool and LKNB. Farrell asked if LKNB’s projects are now on track. Mendizabal replied, yes, and that LKNB has vouchered for two projects; staff is following up with LNKB confirm documentation of LMI status of beneficiaries. Chair Graham asked if the IURA will also review the CAPER. Mendizabal replied that the CAPER is on file and available, but since there are no major issues, the IURA would probably not review unless specifically requested to do so by NIC. Clarification: Outcomes of HOME projects are not recognized within IDIS (HUD’s Integrated Disbursement and Information System) until all phases of the project are fully completed. To provide better understanding of the progress of funded activities, Contracts Monitor Charles Pyott manually updated the HOME outcomes on the CAPER report presented to the Committee to include completed phases and give the best indication which outcomes have been achieved and which are truly incomplete. 2. Organizational Meeting for 2018 Program Year Mendizabal distributed a draft schedule for creation of the 2018 HUD Entitlement Program Action Plan, modeled on that of previous years. The release of Request for Proposals on January 9, 2018 initiates the cycle, with substantive work to be completed by the end of April to prepare for public comment, Common Council approval, and submission to HUD by the June 16, 2018 deadline. Staff has maintained a detailed list of questions that arose during the last planning cycle to use in updating materials, applications, and processes. The Committee discussed how best to facilitate the planning process and prioritize funding in light of ever-declining entitlement awards from HUD. Anticipated award amounts are estimates. The City experienced an unexpectedly large cut in the HOME funding award in 2017 (16%), a trend that may continue given the White House’s proposed budget designating $0 to both CDBG and HOME. HUD Secretary Carson has affirmed the agency’s intention to reduce its budget by $6 billion. Chair Graham noted the short timeframe available for the Committee to further prioritize potential uses of the funds and issue guidance to applicants. Committee members discussed delaying release of the RFP until after the next regular meeting of the NI Committee on January 12, 2018, and decided that in order to give applicants the maximum amount of time to prepare their applications, the RFP would be released as planned on January 9, 2018. Should the Committee develop further guidance during the January 2018 NIC meeting, staff will create an informational handout to distribute at the scheduled Public Input/Information Sessions for posting on the website. 3. Organizational Meeting for2019-2023 Consolidated Plan Mendizabal provided information on the upcoming Consolidated Planning Process. By design, the Assessment of Fair Housing is submitted 270 days prior to the Con Plan and is linked to the Con Plan with the required inclusion of the AFH Goals. She also noted that the Con Plan and Action Plan have similar public consultation requirements, so some of these activities will be completed concurrently. Mendizabal distributed a chart of Progress to Outcome to 2014-2018 Con Plan Goals, for assistance in planning. The Committee asked whether the outcomes under the Homeowner Housing Added included, for example, 210 Hancock. [Answer: Yes. See “Clarification” at V.1., above] Committee members voiced interest in reviewing the Goals and Outcomes of the  2010-2014 Con Plan as well, for greater understanding of trends and capacity for achievement of priorities identified. Chair Graham noted that the final year of the 2014-2018 Con Plan still applies to the 2018 Action Plan, and the Committee can direct its strategizing to the priorities for the next Con Plan. Farrell observed that in the years prior to the City’s designation as an Entitlement Community, Action Plan focus areas were identified on a yearly basis, which had the benefit of responding rapidly to emergent needs. De Aragón noted that tough decisions lie ahead; limited funding forces decisions about whether to provide fuller funding to fewer projects or divide available resources among a larger array of projects. [ADDENDUM TO MINUTES: Due to a calculation error by the HUD Office of Fair Housing and Equal Opportunity, the deadline assigned to the City of Ithaca for the Assessment of Fair Housing, was incorrect (365 days too early). Mendizabal has conferred with the HUD Buffalo Field Office, and confirmed that Ithaca’s AFH, which has been approved, will remain valid when the Con Plan is submitted for the actual deadline of June 16, 2019. The Con Plan will therefore not be initiated in January of 2018, as discussed in this meeting.] 4. 402 S. Cayuga Street Project Chair Graham shared news that Habitat for Humanity of Tompkins-Cortland Counties recently contacted the Agency to inform it of its need to step away from the 402 S. Cayuga Street Project. Though the property is of great interest to Habitat, anticipated costs for new construction and particular complications associated with this site outstrip the capacity of this small, volunteer-powered agency. INHS has expressed interest revisiting a potential project at the site. INHS had been selected previously to develop for-sale housing at the site. Their analysis showed costs that made rental housing more feasible than for-sale. Since the Agency has expressed a strong interest in increasing for-sale affordable housing, the site was transferred to Habitat. The Agency can designate a preferred buyer and reprogram the funding, if needed. The Committee members revisited the issue of preferred housing-type for the site. Farrell reminded the Committee of its stated strategy for supporting bricks-and-mortar projects with HOME funding, in order to increase permanent housing affordability in our community, which has particularly low homeownership rates. De Aragón voiced that affordable housing of all types, including rental, is an urgent need. Halpert noted the strongly bi-model income distribution in the community. The middle-income distribution is narrow. There is a large proportion of working individuals with incomes in the $20-25K range. The Committee directed staff to verify that another developer for 402 S. Cayuga Street may be designated, and if so, to request a proposal from INHS with strong preference for construction of for-sale affordable housing. VI. Other Business 1. IURA Grant Summary 2. Staff Report  a. AP2 017 Project #8 - Finger Lakes ReUse Mendizabal updated the Committee on changes to Finger Lakes ReUse’s project, which may require approval. The housing originally proposed is on hold, and ReUse has moved toward creating a materials warehouse first, which would still fulfill the FTEs required. Finger Lakes ReUse has identified an individual willing to donate a metal building to be moved from another site and assembled at ReUse. Staff has advised FL ReUse of its obligations under the Davis-Bacon Act. FL ReUse is working to secure loan commitments that would allow the project to move forward. Committee members reviewed the project budget submitted by FL ReUse and directed staff to reach out for greater detail on construction costs. The Committee will review the updated budget for further determination at the January meeting. b. AP 2017 Project #6—INHS Mini-Repair Mendizabal received an inquiry from INHS Staff as they attempt to align Mini- Repair with a similar program it offers in Tompkins County, which it took over in its merger with Better Housing of Tompkins County. The Mini-Repair Program, which occurs in the City, has language referring to services given to individuals aged 62 and above, while the program INHS now operates for County residents is for those aged 60 and above. INHS asked if it would be permissible to serve people aged 60 and above and/or disabled (instead of 62 and above). Staff discussed and determined that though INHS’ proposal for Mini-Repair states the program will be available to Ithaca City residents aged 62 and older or disabled, the Agency does not require a certain age threshold—that language was pulled from INHS’ own proposal—as long as all beneficiaries in the City are documented low- to moderate-income. The Committee agreed that INHS Mini-Repair may be offered to individuals aged 60 and above and/or disabled. c. Mendizabal reported that she reached out to GIAC to suggest it may wish to take the opportunity to re-certify its Community-Based Development Organization (CBDO) status in advance of the AP Planning Cycle. 3. Next meeting date: January 12, 2018 VII. Motion to Adjourn Moved by Manos; seconded Halpert. Adjourned at 10:15 am.  ELIGIBLE PROJECTS ECONOMIC DEVELOPMENT, including: • NEED ― Documented extent and severity • Job creation and/or retention resulting of the need the project will address. CDBG & HOME PROJECTS from: • IMPACT ― Results that will be achieved to HUD regulations control the use of both CDBG - Loans to businesses address the identified need, including and HOME funds. There is a two-tier test to - Micro-enterprise programs number of persons who will benefit from determine project eligibility: - Technical assistance to businesses the project (both low- and moderate- • Brownfield remediation or blight removal income and total number) or impact of the 1. NATIONAL OBJECTIVES TEST project on neighborhood stability. All projects must either eliminate slum/blight PUBLIC SERVICES, including: • FEASIBILITY ― Reasonableness of the conditions or principally benefit low- and • Services for LMI persons, such as: proposed budget and timeline, and extent moderate-income (LMI) persons in one of the - Food, clothing, healthcare to which applicant has anticipated and following ways: - Job training & job placement proposed to manage potential obstacles to A. DIRECT BENEFIT ― at least 51% of the - Youth programs completion. households benefiting from the project are Note: Public Services funding will be limited to LMI. For housing projects, 100% of assisted approximately $90,000 (15% of the CDBG entitlement • CAPACITY ― Evidence the applicant households must be LMI. grant), for all projects. possesses sufficient resources to successfully implement the project. B. AREA BENEFIT ― project benefits all PUBLIC FACILITIES, including: residents of a particular neighborhood where • Streets; parks & playgrounds; sewer, water • LEVERAGE ― Percentage of CDBG/HOME 51% or more of the residents are LMI persons. & drainage systems; pedestrian safety funds used in comparison to funding from Low/Mod households are defined as follows: improvements; and community centers other sources. • Childcare centers Household Maximum Income • COORDINATION ― Extent to which the • Removal of architectural barriers to Size 80% of Area Median Income (AMI) facilities for elderly and disabled persons project implements or coordinates with 1 $42,350 other initiatives, plans, or proposed 2 $48,400 projects. 3 $54,450 SELECTION CRITERIA 4 $60,500 How Do I Apply? To be considered for funding, each proposal 5 $65,350 must satisfy following two threshold criteria: 6 $70,200 Submission requirements are described in • ELIGIBILITY NOTE: THESE LIMITS ARE EXPECTED TO BE UPDATED BY the application forms and accompanying HUD IN FEBRUARY 2018. All projects must meet the HUD threshold instructions. Application materials may be requirements. obtained as follows: 2. PROJECT ELIGIBILITY TEST • CONSISTENCY with CONSOLIDATED PLAN Eligible projects include: All projects must address a priority need • Online: www.IthacaURA.org, or AFFORDABLE HOUSING, including: identified in the 2014-2018 Consolidated • Pick-Up: IURA, City Hall, 108 E. Green • Rehabilitation of housing Plan, available at www.IthacaURA.org. St., 3rd Floor, Ithaca, NY 14850, or • Construction of new housing • Call to Request: (607) 274-6565 Proposals that satisfy these threshold criteria • Homeownership assistance will be prioritized for funding based on an • Facilities for persons with special needs APPLICATION DEADLINE: (e.g. homeless shelters, group homes) evaluation of: • Tenant-Based Rental Assistance (TBRA) NOON ― February 28, 2018 For MORE INFORMATION, please contact: FUNDING OPPORTUNITY Anisa Mendizabal, Community Development Planner amendizabal@cityofithaca.org OR Charles Pyott, Contracts Monitor cpyott@cityofithaca.org Phone: (607) 274-6565 Fax: (607) 274-6558 Ithaca Urban Renewal Agency 108 E. Green St., 3rd Floor 2018 CALL FOR Ithaca, NY 14850 Closed on January 15, 2018 for Martin Luther King, Jr. Holiday. PROPOSALS Free TECHNICAL ASSISTANCE is available to Community Development anyone preparing an application. Please Block Grant (CDBG) contact Anisa Mendizabal, (607) 274-6553, amendizabal@cityofithaca.org, to schedule Home Investment Partnership an appointment. Program (HOME) COMMUNITY INPUT MEETINGS: On behalf of the City of Ithaca, the More information will be provided on the Ithaca Urban Renewal Agency (IURA) application process for interested individuals seeks proposals for projects to be and organizations at the following two included in the City’s draft 2018 Annual meetings. Both meeting locations are fully Action Plan. Approximately $850,000 accessible ― persons needing special accommodation to participate should contact in combined CDBG and HOME funding the IURA at 274-6553, at least 72 hrs. prior to is expected to be available. the meeting. Community Input Meeting #1 Community groups, businesses, non- Wednesday, January 17, 2018 profit organizations, and individuals 12:00-1:00 PM are invited to submit proposals for BorgWarner Community Room projects to be funded through these Tompkins County Public Library 109 E. Green St., Ithaca, NY 14850 programs. Community Input Meeting #2 Thursday, January 18, 2018 APPLICATION DEADLINE: 5:00-6:00 PM NOON Common Council Chambers (Third Floor) 108 E. Green St. (City Hall), Ithaca, NY 14850 February 28, 2018 Proposed Resolution Neighborhood Investment Committee January 12, 2018 Project #1 – 210 Hancock (Action Plan 2015) – Technical Correction to Promissory Note WHEREAS, Ithaca Urban Renewal Agency (IURA) provided Ithaca Neighborhood Housing Services (INHS) with $120,000 in financial assistance in the form of a construction loan on June 30, 2016 to support Action Plan 2016 Project #1 – 210 Hancock, and WHEREAS, an error in the language of the Promissory Note between IURA and INHS results in incorrect calculation of the late fees imposed as five percent (5%) of total annual payment instead of five percent of total monthly payment, and WHEREAS, this matter has been reviewed and by the Neighborhood Investment Committee of the IURA who recommends the following; now therefore, be it RESOLVED, that the Neighborhood Investment Committee of the IURA hereby recommends the IURA approve a correction to the executed promissory note for the construction loan of Project #1 – 210 Hancock (Action Plan 2016) to establish late fees that are calculated at 5% of the total monthly payment. H:\NIC Working Folder\Resolutions\Reso NIC - AP 2015 Project #1- 210 Hancock-- Promissory Note Correction.doc  IURA Grants Summary November 2017 ON TOTAL # SCHEDULE HUD ENTITLEMENT ACTIVITIES SPONSOR BUDGET EXPENDED UNEXPENDED % SPENT 2014 CDBG Activities 5, 6 2911 ok Unallocated 2014 CDBG IURA 21,750.57 0.00 0.00 0.000% Total 21,750.57 0.00 0.00 100% 2015 CDBG Activities 2521 complete 1.0 Hancock Street INHS 250,403.50 250,403.50 0.00 100% 2522 complete 2.0 Mini repair INHS 35,000.00 35,000.00 0.00 100% 2531 complete 6.0 Temporary Ramp Loan Program 2 Finger Lakes Ind. Center 20,000.00 20,000.00 0.00 100% 3 GIAC 2532 complete 7.0 Hospitality Employment Training Program 109,372.86 109,372.86 0.00 100% 2523 complete 8.0 Work Preserve Job Training Program Historic Ithaca 87,500.00 87,500.00 0.00 100% 2524 ok 9.0 Spencer Road Sidewalks City of Ithaca 100,000.00 0.00 100,000.00 0% 2525 complete 10.0 2-1-1/I&R Service Human Services Coalition 20,000.00 20,000.00 0.00 100% 7 2526 complete 11.0 Building for the Future Southside Community Center 21,227.76 21,227.76 0.00 100% 2527 complete 12.0 Immigrant Services Catholic Charities 16,000.00 16,000.00 0.00 100% 2528 complete 13.0 A+ Tuition Assistance BJM Enrichment Program 17,410.00 17,410.00 0.00 100% 2529 complete 14.0 ReSET Job Training Expansion Finger Lakes ReUse 23,759.00 23,759.00 0.00 100% 2530 complete 15.0 CDBG Grant Administration IURA 134,329.20 134,329.20 0.00 100% 7 2912 ok Unallocated 2015 CDBG N/A 2,349.24 0.00 0.00 100% Total 837,351.56 735,002.32 100,000.00 88% 2015 HOME Activities 2511 ok 1.0 210 Hancock Street INHS 206,922.50 203,922.50 3,000.00 99% 2512 complete 3.0 Security Deposit Assistance Program (including Inspection Catholic Charities 44,000.00 44,000.00 0.00 100% 2517 complete 4.0 Housing Scholarship Program Learning Web 24,600.00 24,600.00 0.00 100% 2514 complete 5.0 Housing First 10, 13 TCAction 15,131.00 15,131.00 0.00 100% 2516 complete 16.0 HOME Grant Administration IURA 36,866.10 36,866.10 0.00 100% 4, 14 2518 complete 18.0 First Time Home Buyers-515 W Clinton INHS 15,000.00 15,000.00 0.00 100% 2806 complete Unallocated 2015 HOME4, 13, 14 N/A 71,115.40 0.00 0.00 0% Total 413,635.00 339,519.60 3,000.00 99% 2016 CDBG Activities 2541 ok 3.0 LKNB Homeowner Rehab Love Knows No Bounds 36,334.72 0.00 36,334.72 0% 2542 ok 6.0 Mini repair INHS 30,000.00 27,484.32 2,515.68 92% 2543 ok 8.0 Work Preserve Job Training & Placement 5 Historic Ithaca 67,500.00 29,862.04 37,637.96 44% 2544 ok 9.0 Hospitality Employment Training Program GIAC 100,000.00 82,121.88 17,878.12 82% 2545 ok 11.0 Heating System & Code Corrections DICC 22,489.00 18,699.00 3,790.00 83% 2546 complete 12.0 Advocacy Center Garage Renovation Advocacy Center 10,317.00 10,317.00 0.00 100% 2547 ok 13.0 Wading Pool Renovations GIAC 185,000.00 0.00 185,000.00 0% 2548 complete 1.0a Housing for School Success IURA 11,580.00 11,580.00 0.00 100% 2549 ok 14.0 A Place to Stay Case Management Catholic Charities 17,625.65 4,374.37 13,251.28 25% 2550 complete 8.0a Work Preserve Job Readiness Historic Ithaca 20,000.00 20,000.00 0.00 100% 2551 complete 15.0 Immigrant Services Catholic Charities 30,000.00 30,000.00 0.00 100% 2552 complete 16.0 211 Info and Referral HSC 20,000.00 20,000.00 0.00 100% 2553 ok 17.0 CDBG Admin IURA 132,274.20 127,996.12 4,278.08 97% Total 683,120.57 382,434.73 300,685.84 56% 2016 HOME Activities 2755 ok 1.0 Housing for School Success IURA 77,104.40 41,722.40 35,382.00 54% 2756 ok 2.0 Security Deposit Assistance Program (including Inspection Catholic Charities 44,026.00 41,251.00 2,775.00 94% 2757 ok 4.0 304 Hector Street INHS 100,000.00 96,380.00 3,620.00 96% 8, 9 INHS 2758 ok 5.0 202 Hancock Townhouses 314,125.00 197,946.98 116,178.02 63% 14 Habitat for Humanity 2759 ok 7.0 Morris Ave Homes 75,000.00 0.00 75,000.00 0% 2760 ok 18.0 HOME Admin IURA 32,984.10 32,205.79 778.31 98% 2807 ok Unallocated 2016 HOME 8, 11 N/A 21,545.00 0.00 21,545.00 0% Total 664,784.50 409,506.17 255,278.33 62% 2017 CDBG Activities 2561 ok 1.0 Chartwell House Tompkins Community Action 22,000.00 0.00 22,000.00 0% 2562 ok 2.0 2017 Homeowner Rehab INHS 75,000.00 0.00 75,000.00 0% 2563 ok 6.0 Mini Repair INHS 26,000.00 0.00 26,000.00 0% 2564 ok 7.0 Hospitality Employment Training Program GIAC 100,000.00 0.00 100,000.00 0% 2565 ok 8.0 Ithaca ReUse Center Expansion Finger Lakes ReUse, Inc. 50,000.00 0.00 50,000.00 0% 2566 ok 10.0 Work Preserve Job Training: Job Placements Historic Ithaca 67,500.00 0.00 67,500.00 0% 2567 ok 11.0 Food Entrepreneurship CCE of Tompkins County 36,587.00 0.00 36,587.00 0% 2568 ok 12.0 Urban Bus Stop Signage & Amenities TCAT 25,000.00 0.00 25,000.00 0% 2569 ok 13.0 DICC Heating & Roofing Replacement6, 7 DICC 35,500.00 0.00 35,500.00 0% 2570 ok 14.0 Immigrant Services Catholic Charities 30,000.00 0.00 30,000.00 0% 2571 ok 15.0 Work Preserve Job Readiness Historic Ithaca 20,000.00 0.00 20,000.00 0% 2572 ok 16.0 2-1-1 Info and Referral Human Services Coalition 20,000.00 7,976.80 12,023.20 40% 2573 ok 17.0 A Place To Stay: Supportive Services Catholic Charities 15,925.00 0.00 15,925.00 0% 2574 ok 18.0 Housing For School Success: Year #2 ICSD 13,280.00 0.00 13,280.00 0% Page 1 of 2  IURA Grants Summary November 2017 ON TOTAL # SCHEDULE HUD ENTITLEMENT ACTIVITIES SPONSOR BUDGET EXPENDED UNEXPENDED % SPENT 2575 ok 19.0 CDBG Admin IURA 128,882.00 0.00 128,882.00 0% ok 22.0 Economic Development Loan Fund IURA 56,886.24 0.00 56,886.24 0% ok 9.0 Harriet Gianellis Child Care Center Tompkins Community Action 84,200.00 0.00 84,200.00 0% Total 806,760.24 7,976.80 798,783.44 1% 2017 HOME Activities 2767 ok 3.0 402 South Cayuga Street Habitat for Humanity 80,000.00 0.00 80,000.00 0% 11 The Learning Web 2768 ok 4.0 Housing Scholarship Program 65,592.00 2,874.94 62,717.06 4% 2769 ok 5.0 Security Deposit Assistance Catholic Charities 42,750.00 10,440.00 32,310.00 24% 2770 ok 21.0 828 Hector Street (CHDO) INHS 41,378.00 0.00 41,378.00 0% 2771 ok 20.0 HOME Admin IURA 27,565.10 0.00 27,565.10 0% 12 N/A 2807 ok Unallocated 2017 HOME 19,977.80 0.00 19,977.80 0% Total 277,262.90 13,314.94 263,947.96 5% CDBG Spend Down Ratio (must be less than 1.5 by June 1st of each year (60 days prior to program year): CDBG Spend Down Ratio = total unexpended CDBG funds/most recent annual CDBG award NO Pre-2017 Method: Unexpended CDBG Grant funds on Line of Credit: 1.613 NO Current Method: Total Unexpended CDBG funds: Line of Credit + CDBG Revolving Loan Fund: 2.233 Maximum Unexpended CDBG Funds to Satisfy 1.5 CDBG Spend Down Ratio 966,615 Amount Required to be Expended by 6/1 to Meet CDBG Spend Down Ratio of 1.5: 472,306 Total Unexpended HUD Entitlement Funds CDBG Activities 1,039,469.28 CDBG Program Income 160,000.00 CDBG Revolving Loan Fund Balance 559,451.86 HOME Activities 522,226.29 HOME Program Income Activites 0.00 Total Unexpended HUD Entitlement Funds 2,281,147.43 Page 2 of 2  U.S. Department of Housing and Urban Development Buffalo Office 465 Main Street Buffalo, New York 14203-1780 (716) 551-5755 DEC 2 8 2017 Ithaca Urban Rtnwww Mr. Nels Bohn Agency " Director of Community Development City of Ithaca JAN 0 5 2018 108 East Green Street Ithaca, NY 14850-5690 RECEIVED Dear Mr. Bohn: SUBJECT: 2016 Annual Community Assessment (ACA) Reporting Period August 1, 2016 to July 31, 2017 Community Development Block Grant (CDBG) Program Home Investment Partnerships (HOME) Program Enclosed please find HUD's Annual Community Assessment (ACA) reviewing the implementation and performance of the City of Ithaca's CDBG and HOME Programs. While continuing efforts are taken into consideration, this assessment primarily focuses on the 2016 program year, which covered the period August 1, 2016 to July 31,2017. We offer you thirty (30) days to respond with any comments, changes or updates. If no response is received, this report is final and will be considered the City's Program Year Review Letter as required by HUD regulation. In accordance with the Consolidated Plan regulations, the Program Year Review Letter should be made available to the public through your established citizen participation process. HUD will also make it available to citizens upon request. If you have any questions about this report, would like to discuss the comments, or require further assistance in the administration of your community development programs, please contact Elizabeth A. McClam, CPD Representative, at 716-551-5755, extension 5410 or via email at elizabeth.a.mcclam@hud.gov. Sincerely, ~ £h W~. O'Connell r\ Director Community Planning and Development Division Enclosure www.hud.gov espanol.hud.gov  ~'\ W\ENT of:' 1 1 1 1 ~ 1 ; I 1 v ~~ . i II ' . ! ~(:- ()"0731130 ~-4~ Annual Community Assessment Report For City of Ithaca, New York ltb~a IU.rban Renewal Agency JAN 0 5 2018 CEIVED Program Year of August 1, 2016- July 31,2017  INTRODUCTION The City of Ithaca, as a recipient of HUD Community Development Block Grant (CDBG) and Home Investment Partnership (HOME) funding, is required to annually review and report on its progress in carrying out the goals and priorities of its Consolidated Plan. The Consolidated Annual Performance and Evaluation Report (CAPER) is designed to be a tool to report the activities undertaken during the previous year to both HUD and local community stakeholders and residents. Prior to submission to HUD, a grantee must make its CAPER available for review by interested citizens and stakeholders. HUD has a responsibility to review the CAPER and the community's performance on an annual basis. HUD relies on the CAPER, financial data and audits, program records, on-site monitoring and other resources to evaluate a grantee's overall performance and effectiveness. This review is an on-going process; however, this report summarizes a community's performance and its continuing capacity to administer HUD funds. This report is prepared to provide feedback on your community's performance in the delivery of programs and services using HUD Community Development funds. This report consists of four sections: o Section I provides a general overview regarding compliance and reporting accuracy o Section II evaluates grantee performance in key crosscutting functions o Section III evaluates the progress and performance of each specific HUD program o Section N provides recommendations and/or areas for improvement Programs Administered and 2016 Funding Amounts: CDBG $661,371.00 HOME $329,841.00 Assessment Period: August 1, 2016- July 31, 2017 3rd Year of a 5-Year Consolidated Plan Section I - Summary of Consistency with ConPlan & Annual Action Plans HUD' s review of the CAPER determined that the City of Ithaca followed the BUD-approved Consolidated Plan and Annual Action Plan during the 2016 program year (PY). The activities undertaken during the year are consistent with the Town's 2014- 2018 Consolidated Plan goals, objectives and priority needs. The actual2016 Program Year expenditures recorded in IDIS reflect that the City did expend HUD funds within the requirements of HUD funding regulations. Performance Reports I CAPER Completeness A Consolidated Annual Performance and Evaluation Report (CAPER) is due 90 days after the City completes its program year, which would be October 31, 2017. Ithaca's 2016 CAPER was received on October 30, 2017. The report was determined to be substantially complete. This 1  report included an adequate description of the Ithaca's progress and performance throughout the program year. More detailed information and an assessment of accomplishments can be found in Section III of this report. Comments, notes and any requests for supplemental information will also be noted below. Section II - Cross Cutting Areas and General Overview FHEO Ithaca's 2016 CAPER was evaluated by HUD's FHEO Division on November 16,2017 and the determination was made that the City of Ithaca's performance was adequate. The FHEO Division noted that Ithaca conducted its most recent Analysis of Impediments (AI) to Fair Housing in 2015. Ithaca also adopted a Fair Housing Action Plan on October 8, 2015 and has continued to implement this plan as stated. This Plan included: • The distribution offair housing brochures to landlords and real estate agents • Addressing ongoing concerns with landlords regarding the refusal of Housing Choice Vouchers • Informing all sub-recipients of the newly expanded AFFH goals and priorities The City of Ithaca did successfully submit its AFH to HUDon November 4, 2017 and this plan was deemed "acceptable" on December 13, 2017. The upcoming Consolidation Plan must incorporate the goals and strategies identified in the AFH. · Management The City of Ithaca's entitlement grants are managed by Ithaca Urban Renewal Agency (IURA). This experienced staff continues to demonstrate the capacity to administer and oversee both CDBG and HOME HUD-funded programs. Financial The financial information reported by the City of Ithaca appears to be complete, accurate, and sufficiently detailed to document the overall condition of HUD programs. A Single Audit must be submitted each year, 9 months from the end oflthaca's fiscal year. Ithaca's single audit was submitted to F AC on 9/29/2017 keeping the City in compliance with Single Audit requirements. Citizen Participation The City of Ithaca has conducted the required hearings and public notifications to comply with citizen participation requirements. On October 6, 2017, the City of Ithaca published its CAPER in the local newspaper, The Ithaca Journal. A comment and review period of 15 days ran from October 12-27, 2017. No comments were received. The City always maintains a hard copy at the offices of the Ithaca Urban Renewal Agency (IURA) in City Hall and an electronic copy is posted on the IURA website. Sub Recipient Oversight & Compliance Monitoring The City of Ithaca's sub recipients are monitored by Ithaca Urban Renewal Agency (IURA) through Quarterly Reports, Annual Reports, Final Reports, Program Income Reports, and financial statements, as well as ongoing communication, informal contacts, and site visits. The frequency of monitoring activity depends on the complexity of a given project and/or a sub-recipient's 2 performance history or organizational capacity. Each project is assigned a risk level, with riskier projects receiving technical assistance, site visits, and greater monitoring attention. Ongoing monitoring for HUD compliance is conducted annually through desk monitoring, review of submitted documents, telephonic follow-ups, and documentation of expenses submitted with each voucher request for payment of project expenses. The City's loan portfolio is also reviewed annually, with loan payments monitored monthly. This CAPER indicates that sub recipients are on track and meeting goals and standards. Section III - Specific Program Progress and Performance Community Development Block Grant (CDBG) National Objective Compliance: The CDBG program was designed to principally benefit low- moderate income persons. During the reporting period, it was determined that the City spent 96.36% of their funds on activities that principally benefitted low-moderate income persons. Program Activities: These activities were adequately described in this CAPER for PY 2016. CDBG funds were spent on activities eligible under CDBG regulations. Ithaca has reported on the 3rd year of a 5-year strategic plan. The CAPER and IDIS indicate that good progress has been made towards meeting stated numeric goals for specific activities. Some of the completed activities have been highlighted below: • Housing rehabilitation & mini-repair assistance to LMI homeowners (50 units in PY 2016) • 3 Tenant-Based Rental Assistance (TBRA) programs (57 households assisted in PY 2016) • 3 job-training/skill-building &job-placement programs ( 12 jobs created or retained and 20 beneficiaries were assisted with job training readiness in PY 2016) • Programs to help meet the basic needs of low-income households (894 persons in PY 2016) • New business - Liquid State Brewing Company expected to create at least 2.5 FTE positions • Alex Haley Municipal Pool Renovation Project (expected to completion July 2018) The City of Ithaca places great priority on Homeless Prevention and non-housing Services. CDBG Grant funds were utilized for the following programs: • A Place To Stay Case Management Program • Housing for School Success Program • Tenant-Based Rental Assistance • Security Deposit Assistance Program • The Learning Web Scholarship Program • The Garage Renovation Project • 2-1-1 Referral Services 3 Fair Housing and Equal Opportunity: Our review did not reveal any significant issues related to compliance. HUD Monitoring: The Buffalo Field Office conducted an on-site monitoring of the CDBG program in PY 2014. Planning and Administration: The CDBG program rules allow the City to obligate up to 20% of their grant funds plus program income on eligible planning and administrative costs. According to the IDIS PR26 CDBG Financial Summary Report submitted with the CAPER, this amount was 15.59%. Public Service: The CDBG program rules allow the City to obligate up to 15% of their grant funds plus program income on eligible public services related activities. According to the IDIS PR26 Financial Summary Report submitted with the CAPER, this amount was 11.31%. Program Progress and Timeliness: The CDBG program requires that the City's unexpended CDBG funds be no more than 1.5 times their annual grant 60-days before the end of the program year. The City was warned in March 2017 that it might be out of compliance with this test. On June 14, 2017, Ithaca was formally notified that it failed the timeliness test and has 12 months to reach the 1.5 timeliness standard. The Community Development Representative is working closely with the IDRA staff to assure compliance within 12 months or provide TA with the required written Workout Plan to avoid sanctions for grant reductions. A review of the IDIS PR09 Report confirms regular voucher draws and receipts have been on-going from the RL fund. !DIS Data: The City is required to use the Integrated Disbursement and Information System (IDIS) to report on program activities and accomplishments. A review ofthe IDIS reporting system confirms accuracy of this data. Home Investment Partnerships (HOME) Program Beneficiary Compliance: The HOME program was designed to principally benefit low-moderate income persons. During the PY2016 reporting period, it was determined that the City spent 100% of their funds on activities that principally benefitted low- to moderate-income persons. Program Activities: The activities were adequately described for this CAPER. HOME funds were spent on activities that were eligible under program rules. The funded programs and accomplishments reported are on track, compared to the stated goals. Some of the funded activities include the following programs: • Security Deposit Assistance Program • Construction of new affordable housing (7 owner-occupied single-family homes) • Community Housing Development Fund Awards ($100,000 in PY 2016) All HOME-assisted units were inspected in PY 2016 based on the schedule 96.504(d). Any issues identified during these inspections have all been corrected. 4 Commitments/Reservations/Disbursements: A review of this CAPER and IDIS data confirms that Ithaca is committing funds , making CHDO reservations, and making disbursements for activities within the required timeframes, including commitments and disbursements for administration. Program progress was determined to be satisfactory. Fair Housing and Equal Opportunity: Our review did not reveal any significant issues related to compliance. Performance was satisfactory. HUD Monitoring: The Buffalo Field Office conducted an on-site monitoring review of the City's HOME program during the PY 2009. Section IV - Summary and Recommendations The City of Ithaca's current CDBG and HOME performance have been satisfactory. Some projects are ahead of schedule. There are a few recommendations: o The required AFH has been accepted by HUD. Please assure that all goals identified in the AFH be integrated into the upcoming Consolidated Plan. o Please ensure that program income recorded in the Federal Cash Transactions Reports is receipted into IDIS in a timely manner. o Please continue to monitor IDIS reports at least quarterly, to ensure that activities that are completed, but not yet closed and activities that have been listed as in final draw status for more than 120 days, are reviewed and appropriate action is taken. This report was prepared by: Elizabeth McClam, CPD Representative 716-551-5755 ext. 5410 Elizabeth.A.McClam@ hud.gov HUD is providing you the opportunity to review this assessment and comment. Based on the information available at the time of this review, HUD has determined that at this time, the City of Ithaca has the continuing capacity to carry out HUD programs identified in this report. If you have any questions or would like to discuss the Assessment Report, please contact, Elizabeth McClam CPD Representative. Ms. McClam can be reached at 716-551-5755 extension 5410. If you disagree with this assessment, please respond, in writing to HUD- Director of the Office of Community Planning & Development, 465 Main Street, Buffalo, NY 14203. Your response should identify any areas of disagreement and corrections or any additional comments you would like HUD to consider. If no response is received, this report is final and should be considered your community's Program Year Letter as required by HUD regulation. Consistent with the Consolidated Plan regulations, this assessment should be made available to the public. This can be accomplished by making it available through your established citizen participation process. HUD will also make it available to citizens upon request. 5 r Project Underwriting and Subsidy Layering Analysis Project Name: 828 Hector Street Project Type: Single Family For-Sale Home Address: 828 Hector St., Ithaca, NY 14850 Name of developer: Ithaca Neighborhood Housing Service (INHS) Form of subsidy: development subsidy Date analysis completed: December 29, 2017 Description of Project The project consists of purchase and renovation of a vacant, 3-bedroom home located at 828 Hector Street to be sold to a homebuyer making 80% or less of Area Median Income (AMI). According to tax records, the ranch home was originally constructed in 1955. The home is in good structural condition, but requires renovation to bring it up to housing quality standard to provide at least 15 years of useful life for all systems and major building components. The property went into foreclosure with a local commercial lender and was acquired by INHS in lieu of foreclosure with the understanding that INHS would sell it to a first-time homebuyer using INHS’s Community Housing Trust (CHT) model. The CHT model enables low- and moderate-income households to attain homeownership and also ensures that these homes remain permanently affordable to future generations of low-income buyers. This is accomplished through the use of developer subsidy coupled with a ground lease restricting the resale price. INHS will retain ownership of the land and maintain long-term stewardship of the property. Upon completion, the 3-bedroom, 1,560 square foot home will be sold to a first-time eligible homebuyer with household income at or below 80% of area median income. 828 Hector Street is projected to sell for $144,163, making the unit affordable to a two-person household earning 70% of AMI. The Affordability Period is 15 years, which will be enforced by a recorded ground lease and resale provisions requiring any resale during that period to be at a price affordable to a household whose income is at or below 80% of area median income. The project is part of the Community Housing Land Trust; the purchaser will hold title to their home, while the developer (INHS) will continue to hold title to the underlying land for the purposes of ensuring continued affordability. Analysis of Developer and Project Teams’ Capacity • The experience of the development team with projects of a similar size, type, and complexity, based upon submitted resumes and/or portfolios and project lists. The development organization and responsible staff have extensive successful experience with projects of a similar size, type, and complexity, as well as with significantly more complex projects. Most recently, INHS has completed construction and sale of 4 townhouses to homebuyers at 202 Hancock St., construction and sale of a single-family home at 203 Third Street and is just completing construction of a single-family home at 304 Page 1 of 5  Hector Street. Each of these completed projects were constructed within budget and sold at projected sales prices to low-income buyers. INHS was established in 1976 and has developed into a full-service, Neighborworks America-member, non-profit affordable housing agency. INHS lines of business include new housing construction, housing renovation, rental property management, lending, and homebuyer training and purchase assistance. INHS manages over 200 affordable rental housing units. INHS employs 35 people, including professionals with expertise in housing development, construction, finance, and lending. Since the inception of the Community Housing Trust program, INHS has successfully completed 40 homes. All INHS new construction projects are built to Energy Star and LEED standards. The LEED program requires a comprehensive approach to design and construction that promotes long-term sustainability in building and community design. Principal staff members assigned to this project are Senior Real Estate Developer, Lynn Truame, and Christine Carreiro, Director of Construction Services. Each have deep experience in successfully completing similar projects, as verified by their resumés contained in the INHS funding application. • The financial strength of the developer, including its liquidity and level of unrestricted assets or net worth, based upon the two most recent years of audited financial statements. A review of the most recent available audits (2016) shows that INHS is financially sound with good liquidity. Total net assets in 2016 were $19.5 million up from $19.11 million in 2015. Cash equivalents in 2016 are reported at $4.8 million. The unrestricted checking account balance was $690,000 on 12/31/16, verifying access to committed equity and an ability to cover any unanticipated cost overruns. There were no findings or identified material weaknesses. • Whether the developer has had prior performance concerns on IURA-funded projects. INHS has had no prior performance concerns on IURA-funded projects and has successfully completed numerous projects. Analysis of Market Conditions Ithaca is experiencing a critical shortage of affordable housing across the full range of low- and moderate-income levels for all household types, including first-time homebuyers. According to the 2008-2012 American Community Survey 5-year estimates, median home value is now $184,400; a 91.5% increase since the year 2000. In 2013, only fourteen homes were sold in Ithaca at prices of less than $150,000, the effective limit for affordability. INHS built seven of those homes. Ithaca's homeownership rate is very low, at only 27%, and the homeowner Page 2 of 5 vacancy rate is extremely low, at only 2.4%, reflecting a market where supply struggles to meet demand across the board. The City of Ithaca enjoys moderate population and employment growth, in contrast to the majority of the Southern Tier region of New York. The 2017 Tompkins County Housing Strategy reports a need for 300 single-family homes per year through 2025 to meet existing and future needs. Of this amount, 90 homes/year are needed in the $150,000-$199,000 price range. Home builders struggle to construct new homes for under $200,000, so this detached unit priced below $150,000 will enjoy a price advantage over all other comparable new housing units. FINANCIAL FEASIBILITY AND REASONABLE COST ANALYSIS Development Budget • Sources: $238,041 o Copies of all commitment letters or letters of interest from funders, lenders, and equity investors. Received. o Certification of federal assistance concerning governmental assistance provided, or to be provided, to the project. None proposed. o Notes: Permanent sources include INHS equity in the amount of $37,000 (16% of TPC) and $15,000 in INHS down payment homebuyer assistance. • Uses: $238,041 o Acquisition: third party appraisal. Waived – INHS acquired the house from the lender in lieu of foreclosure for $152,000. The property is assessed at $190,000. o Construction: Construction cost is projected at $65,000 based on a detailed intemized cost estimate prepared by INHS in-house housing construction personnel, in line with a 3rd party cost estimate prepared by local contractor Rick May, who has constructed similar houses for INHS. A construction contingency of 8% is included. Received. o Overall per square foot cost of construction: $44/sq. ft. o Construction costs of note: all uses are HOME-eligible and appear reasonable. o Soft costs: “reasonable and necessary” soft costs include such costs as title and escrow, financing fees, development period interest, real estate taxes during construction, legal fees, permits, appraisals, environmental studies, architectural and other related professional services, audit costs, relocation costs, affirmative marketing expenses, and capitalized reserves. A soft cost contingency of up to 5% may be included. Soft costs total $8,141 (3% of TPC), which is reasonable and necessary. o Developer fee: maximum allowed = 15% of TPC. Budgeted developer fee = $0 (0% TPC). INHS is waiving their development fee to complete this project that advances their mission. Total Development Cost $238,041/1 = $238,041 per unit $/1,560 sq ft = $153/sq ft Page 3 of 5 Construction Cost $65,000/1 = $65,000 per unit $/ 1,560 sq ft = $44/sq ft Maximum HOME Subsidy Maximum allowed (3 Bedrooms): $252,500 This project: $41,378 per unit Maximum HOME Sales Price New Home: 1-unit maximum allowed: $199,000 This project: $144,163 Underwriting Findings Sources of committed funds equal uses of funds indicating there will be no financial gap if HOME assistance is made available. All project costs are eligible, customary and reasonable. Firm financial commitments are in place for major funding sources. Market demand in the project area is strong for affordably priced homes. The proposed sales price at $144,163 is 78% of the median sales price and is priced to be affordable to a homebuyer earning as little as $39,300, 60% of Area Median Income for a household of three persons. The developer has both the technical experience and financial capacity to complete the project. Findings: Project costs and the homebuyer purchase price are reasonable to provide quality affordable housing to an income-eligible household throughout the 15-year affordability period. Summary Subsidy Layering Analysis: Federal Funds HOME: $41,378 CDBG: $0 State Funds Affordable Housing Corporation $0 Energy Star rebates $0 Local Funds CHDF $0 Private Funds Sponsor equity $37,500 INHS downpayment deferred loan $15,000 Unit sale $144,163 $238,041 = Total Project Cost Homebuyer Sales Plan: Sales price: $144,163 Income required: $39,318 (60% of AMI for a 3-person household) Page 4 of 5 The proposed sales price is well below the maximum sales price allowed by HOME regulations and is affordable to households earning 60%-80% of Area Median Income. INHS has successfully sold over 30 affordable homes in the last five years and operates a homebuyer division that provides homebuyer education, technical assistance and financing. Developer Fee Analysis Developer fee requested: $0 % of TPC: 0% At 0% of Total Project Cost (TPC), the developer fee does not exceed the maximum allowed rate of 15% of TPC. Subsidy Layering Findings The project has maximized its use of available funds, will not provide the developer with an unreasonable return, meets HOME maximum subsidy limit and purchase price, and does require the amount of allocated HOME funds to close the funding gap to make the project financially feasible. Please see accompanying Financial Underwriting Analysis. Attachments: • IURA financial underwriting analysis • Project uses and sources of funds statement • Project itemized cost estimate • Homebuyer affordability worksheet • IURA homebuyer income eligibility analysis • Funding commitment letter • Developer resumes Page 5 of 5 IURA Financial Underwriting Analysis Fiscal Year 2017 HUD Entitlement Program 828 Hector Street Rehabilitation and sale of one (1) affordable home Total Square Footage: 1,560 Pe Square Foot Construction Cost: $44 USES OF FUNDS $ % Documentation Reasonableness Acquisition ‐ land and buildings $152,000 64% yes yes Acquisition - closing costs $8,000 3% no yes Construction $60,000 25% yes yes Constructon contingency $5,000 2% yes yes Developer fee $0 0% na na Financing costs $0 0% na na Soft costs $8,141 3% na yes Sales costs $4,900 2% na yes TOTAL DEVELOPMENT COST $238,041 100% Projected Sales Price to Homeowner # Price Totals 2- Bedroom: 0 $0 $0 3-Bedroom: 1 $144,163 $144,163 Total Sales Proceeds: $144,163 SOURCES OF FUNDS Documentation Reasonableness FUNDING SOURCE TITLE AMOUNT AMOUNT % of total SECURED UNSECURED budget 1. FY 2017 CDBG/HOME $41,378 17% yes yes 2. INHS Loan Fund $15,000 6% yes yes 3. INHS Equity ‐ Land $37,500 16% yes yes 4. Proceeds from Sale $144,163 61% na yes Subtotal Secured & Unsecured Funding $93,878 $144,163 TOTAL FUNDING SOURCES $238,041 100% Note: INHS audited 2016 financial statements show INHS has sufficient unrestricted cash to cover unforeseen expenses. total cost: $238,041 homebuyer sale proceeds: $144,163 gap B/4 equity, grants, loans, HOME: $93,878 minus: INHS equity & loan: $52,500 gap B/4 grants & HOME: $41,378 minus: Non-HOME grants & incentives: $0 gap B/4 HOME: $41,378 Requested HOME: $41,378 Subsidy Layering Analysis: - Project has a funding gap without HOME assistance - Requested HOME subsidy is necessary and reasonable - Developer fee does not exceed IURA standard Underwriting Analysis: - Development budget costs are eligible, customary and reasonable - Uses of funds are verified, including itemized construction cost estimate - Funding sources are firmly committed - Uses and Sources of Funds match up Prepared by N. Bohn  HOUSING PROJECT DEVELOPMENT BUDGET SOURCES - PERMANENT AMOUNT AMOUNT % OF TOTAL FUNDING SOURCE TITLE SECURED* UNSECURED BUDGET 1. FY 2017 CDBG/HOME $41,378.00 17.38% 2. Proceeds from sale $144,163.00 60.56% 3. INHS loan fund $15,000.00 6.30% 4. INHS equity $37,500.00 15.75% 5. 0.00% 6. 0.00% 7. 0.00% 8. 0.00% TOTAL SECURED & UNSECURED FUNDING $0.00 $238,041.00 100.00% TOTAL PROJECT BUDGET $238,041.00 100% LEVERAGE OF SECURED FUNDING PERCENTAGE 0.00% * Supporting documentation is required for amounts listed as secured. USES PROPOSED PROPOSED PERSONNEL EXPENSES: POSITION TITLES TOTAL CDBG/HOME OTHER $0.00 $0.00 $0.00 A-TOTAL PROPOSED PERSONNEL BUDGET $0.00 $0.00 $0.00 PROPOSED PROPOSED NON-PERSONNEL EXPENSES: LINE ITEM/TYPE TOTAL CDBG/HOME OTHER Acquisition - Land & Buildings $152,000.00 $152,000.00 Acquisition - All Other $8,000.00 $8,000.00 Construction $60,000.00 $60,000.00 Construction Contingency $5,000.00 $5,000.00 Hazmat Abatement $0.00 Architectural & Engineering Fees $0.00 Other Professional Fees $0.00 Construction Financing Costs $0.00 Permanent Financing Costs $0.00 Developer Fee $0.00 Capitalized Operating Reserve $0.00 Capitalized Replacement Reserve $0.00 Soft Cost Contingency $0.00 Total of All Other Costs (list separately individual line items exceeding $50,000) $8,141.00 $8,141.00 Sales costs $4,900.00 $4,900.00 $0.00 $0.00 $0.00 B-TOTAL PROPOSED NON-PERSONNEL BUDGET $0.00 $238,041.00 $238,041.00 (A+B) TOTAL PROPOSED PROJECT BUDGET $0.00 $238,041.00 $238,041.00  FY2017 HUD Entitlement Program Application for Funding FOR-SALE HOUSING CONSTRUCTION Unit Type Description Gross Total # of # of Construct. For-Sale Housing Unit Types Square Construct. Bedrooms Bathrooms Cost/Sq. Ft. (Example: Affordable - Townhouse) Feet/Unit Cost/Unit Affordable - single family home (rehab) 3 1 1,561 41.64 $ 65,000.00 2. 3. 4. 5. 6. 7. 8. Totals 3 1 1,561 41.64 $ 65,000.00 HOMEBUYER AFFORDABILITY WORKSHEET Example Unit #1 Unit #2 Unit #3 Unit #4 Projected Sales Price $133,000 $144,163 Projected Assessed Value $169,000 $190,000 Monthly Homebuyer Payments: Bank Loan(s) $780 $657 Loan #2 $0 Property Taxes $520 $448 Property Insurance $38 $42 Mortgage Insurance $0 Homeowner Association fee $35 Ground rent $0 $50 Total Monthly Housing Costs $1,373 $1,197 Annual Housing Costs $16,476 $14,364 Required Homebuyer Income Needed $44,530 $39,319 Bedrooms 2 3 Projected Household Size (# bedrooms +1) 3 4 80% AMI by Household Size (see below) $52,850 $58,700 Is Required HH income less than 80% AMI? Yes yes NOTE: CHT property - taxes on restricted resale Assumptions value only Annual Property taxes: $37 per $1,000 assessed value Maximum % of Income toward Housing: 37% 80% Area Median Income (AMI) by 1-Person 2-Person 3-Person 4-Person 5-Person Household Size: $41,100 $47,000 $52,850 $58,700 $63,400 HOMEBUYER INCOME ELIGIBILITY ANALYSIS 828 Hector Street For-Sale Homeownership Project $39,319 Required Homebuyer Income to purchase $144,163 home Highlighted cells indicate qualifying income categories by family size City of Ithaca, NY 2017 HOME Moderate HOME Low Very Low Income Household Income Income Family Size Limit Income Limit Limit Limit RENTAL UNITS only (< 80% median) (< 60% of median) (< 50% of median) (< 30% of median) 1 person $42,350 $31,800 $26,500 $15,900 2 persons $48,400 $36,300 $30,250 $18,200 3 persons $54,450 $40,860 $34,050 $20,450 4 persons $60,500 $45,360 $37,800 $22,700 5 persons $65,350 $49,020 $40,850 $24,550 6 persons $70,200 $52,620 $43,850 $26,350 7 persons $75,050 $56,280 $46,900 $28,150 8 persons $79,900 $59,880 $49,900 $30,000 CONCLUSION: The home is affordable to households earning between 60% and 80% of AMI. Source: U.S. Dept. of Housing & Urban Development Notes: 1. City of Ithaca income limits are based on a 2017 median family income for the Ithaca, NY metropolitan statistical area (MSA). 2. Effective date of 2017 HOME income limits: 4/14/17 10/19/17  AnisaMendizabal IURA 108E.GreenSt.,3rdfloor Ithaca,NY14850  Re.:828HectorStreet–2017HOMEproject#21  DearAnisaͲ  Enclosedpleasefindthesignedacceptedandagreedcommitmentletter,withenclosures,forthe828 Hectorproject. Withregardtotheavailablilityoffundstocompletetheproject,IconfirmthatINHShassufficient availableinternalfundingtocompleteboththeacquisition(whichhasalreadyoccurred)and rehabilitationofthishome.INHShastwofundsthatcanprovideconstructionfinancingforthisproject: theRLFandtheREDfunds.TheRLFconsistsofprogramincomefromCDBGgrantsthatINHShas receivedoverthepast31years;theREDfundisunrestrictedmoniesreceivedfromvarioussources. INHSoftenusesmoneyfromthesefundstoprovideconstructionloansforsmallrealestate developmentprojects.Thesefundswillalsobeusedtoprovidepermanentloanstotheeventualbuyer of828Hector.Inaddition,INHShasan$800,000RevolvingLineofCreditwiththeTompkinsTrustCo. TheLOCwillbeusedifneededduringtheconstructionperiodofthisprojecttoprovideashortͲterm constructionloan. Wedonotexpectattorneyreviewoftheproposedcontractforthisprojectwillbenecessary;please sendthedrafttomyattentionandIwillforwardtoourattorney(CarriePollack)ifitcontainsanything wehavenotseenincludedinpreviouscontractswiththeIURA.  Thankyou!  Sincerely,   LynnC.Truame SeniorHousingDeveloper  LYNN CUNNINGHAM TRUAME 3287 Dubois Rd • Ithaca, NY 14850 • (607) 229-7849 • thetruames @gmail.com Summary of Qualifications Thirteen years of progressively responsible experience in the development of publicly-funded affordable housing, including grant writing and administration, regulatory compliance, project and construction management, and collaboration with community-based organizations. Two years’ experience administering the HUD Entitlement Program for the City of Ithaca. Two additional years’ municipal government experience, serving as the staff link between the public and a volunteer board. Excellent written and oral communication skills. Demonstrated ability to work independently and manage multiple complex projects simultaneously. Professional Experience Community Development Planner, Ithaca Urban Renewal Agency, Ithaca, NY April 2014-present • Manage the City of Ithaca’s HUD Entitlement Grant program and ensure compliance with all federal regulations and HUD requirements. • Develop and administer the 5-year Consolidated Plan, identifying priority community investment needs based on an analysis of ACS, census, and other data, consultation with community organizations, and extensive public outreach. • Prepare and implement the Annual Action Plan, complete NEPA environmental review on proposed projects, complete project set-up on HUD’s on-line Integrated Disbursement & Information System (IDIS), and oversee performance monitoring. Prepare and submit the Consolidated Annual Performance and Evaluation Report (CAPER). • Conduct community outreach activities to identify and jointly develop programs that will address unmet priority community development needs. • Manage the drafting of funding agreements to implement projects, in collaboration with legal counsel. • Provide staff support to IURA committees. • Supervise the IURA Contracts Monitor position. Historic Preservation Planner, City of Ithaca, Ithaca, NY 2011-April 2014 • Coordinated all aspects of the City of Ithaca’s historic preservation program and ensured compliance with all NYS Certified Local Government (CLG) requirements. Achieved exemplary rating on 2012 CLG audit. • Devised and implemented new systems and procedures to improve the transparency and effectiveness of the regulatory process and increase public understanding of program benefits and requirements. Completed a major revision of the landmarks ordinance, wrote and published the City’s first historic district design guidelines, overhauled the ILPC web page, and developed a highly effective working relationship with the Building Division. • Served as staff to the Ithaca Landmarks Preservation Commission and the MLK Freedom Walkway Committee. Maintained updated commission training handbook, prepared and distributed monthly meeting packets, drafted resolutions, and ensured adherence to procedural requirements. • Worked closely with applicants to help define their projects and develop proposals that achieve the applicant’s goals while complying with program requirements. Increased average annual approval rate to 90%. • Worked closely with other City staff and with Common Council to ensure the consideration of preservation goals in such broader efforts as the Comprehensive Plan, the Collegetown Form Based Code, rezoning efforts, and the treatment of unsafe structures. Construction and Project Management Consultant, Beacon Development Group, Seattle, WA 2004-2011 • Working remotely, supported and served as a resource to Seattle-based staff in the development of affordable housing projects. • Oversaw the work of the Construction Management team to ensure compliance with company standards. • Managed the contracting process with general contractors and project consultants, maintained standard company contract templates, and oversaw contract negotiations to ensure company-wide consistency. • Assisted in evaluating project feasibility, preparing funding applications, and completing due diligence. • Developed and maintained company marketing materials and prepared responses to Requests for Proposals. Construction Manager/Housing Developer, Beacon Development Group, Seattle, WA 2001-2004 • Developed 276 units of affordable housing in new construction, moderate rehab, and certified historic rehabilitation projects, with budgets totaling in excess of $51 million. • Evaluated feasibility, prepared funding applications, completed due diligence and closed bridge and permanent financing from a variety of public and private funding sources including HUD (HOME, CDBG); state, county, and municipal governments; commercial banks; Federal Home Loan Bank; and Low Income Housing Tax Credit and Historic Rehab Tax Credit equity partnerships.  LYNN CUNNINGHAM TRUAME 3287 Dubois Rd • Ithaca, NY 14850 • (607) 229-7849 • thetruames@gmail.com Professional Experience, continued Construction Manager/Housing Developer, Beacon Development Group, Seattle, WA 2001-2004 cont. • Hired consultants and contractors, reviewed specifications, oversaw construction, developed and maintained project budgets, prepared monthly draws to a variety of public and private funders, and ensured regulatory and reporting compliance. • Provided technical back-up to other Beacon Project and Construction Managers during the construction process and oversaw their work to insure compliance with Beacon standards and procedures. • Provided project supervision and technical assistance to non-profit organizations engaged in housing development and supportive service activities. Senior Housing Developer, Low Income Housing Institute, Seattle, WA, 2000 (promoted from Housing Developer, 1998-2000) • Managed new construction and rehabilitation projects, owned by the Low Income Housing Institute or by client organizations, with budgets totaling in excess of $15 million. • Wrote grant and loan applications that resulted in over $1.5 million in awarded funding. • Completed due diligence and closed bridge and permanent financing from a variety of funding sources. Director of Preservation Services, Historic Ithaca, Inc., Ithaca, NY, 1993-1998 (promoted from Architectural Conservator, 1989-1993) • Secured financing for and managed construction and maintenance projects at properties owned by Historic Ithaca, Inc. • Headed Technical Assistance Program that provided information, guidance and support to hundreds of individuals annually and helped over 450 building owners research, plan, and carry out the renovation or repair of their homes. • Managed revolving fund that provided low interest loans to assist homeowners with rehabilitation costs. • Initiated the successful campaign to create state enabling legislation and the first local law in New York State to provide property tax incentives for the rehabilitation of historic buildings. Trainings Undoing Racism, 2012, the People’s Institute for Survival and Beyond Energy Conservation in Historic Buildings, 2011, NYSERDA/Preservation League of New York State Green Strategies for Historic Buildings, 2009, National Preservation Institute Project Management, Design Development, Design Review, and Cost Reduction Techniques for Project Managers, 2002, Impact Capital Assessing Capital Needs and Replacement Reserve Levels, 2001, Impact Capital Building Envelope Technology, 2000, Walsh Construction Company Multi-family Housing Finance, 1999, National Development Council Low Income Housing Tax Credit Compliance, 1999, Washington State Housing Finance Commission Planning for Relocation, 1999, King County, WA Education Master of Arts, Cornell University, Ithaca, NY, 1991 City and Regional Planning, Program in Historic Preservation Planning Bachelor of Arts, Cum Laude, Michigan State University, East Lansing, MI, 1986 Double major English and History, with departmental specialization in Historic Preservation Phi Beta Kappa, Phi Kappa Phi, Golden Key National Honor Society Appointments and Publications Member, Application Review Committee, Tompkins County Housing Affordability and Trust Fund, 2010. Commissioner, Ithaca Landmarks Preservation Commission. 2005-2009. Truame, Lynn C. and Carol Kammen. Architectural Heritage of Tompkins County. Ithaca, NY: DeWitt Historical Society, 2002.