FY 12 Plan - HUD

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[Moving-to-Work 2011-2012 Annual Plan] In addition, ARRA Funds were used to make much needed improvements to elevators at Villa Tranchese, Victoria Plaza, Marie McGuire, Parkview and Fair Avenue Apartments. These five properties, in total, consist of 818 units. All are mid to high-rise elderly properties with various construction dates. All elevators within each of the properties will receive upgrades to comply with current code requirements and replacement of components to extend their useful life. 3. New Housing Development Units PRESERVATION & EXPANSION TWO YEAR WORK PLAN Overview On May 12, 2011 the San Antonio Housing Authority (SAHA) Board of Commissioners unanimously adopted the Affordable Housing Preservation and Expansion Policy (P&E Policy). The P&E Policy establishes the principles, goals, priorities and strategies that SAHA intends to pursue to preserve and expand the supply of high quality, sustainable and affordable housing in San Antonio. Furthermore, the P&E Policy guides the Work Plan and thus is an integral part of the Work Plan. The P&E Policy is included as Appendix One. Multiple financing sources will be used by SAHA in achieving its goals for preservation and expansion. Capital improvements to existing properties will be made to extend the life of a property, improve livability and decrease operating expenses. Expansion will be done in areas that achieve multiple community goals and include deeply subsidized housing. The sources covered by this plan include, but are not limited to: preservation and expansion funds (PEF) capital fund program (CFP) and replacement housing factor funds (RHF); altogether an estimated $29M will be used for these activities. Total Funds for Expansion and Preservation Activities Preservation and Expansion Replacement Housing Factor Capital Fund Program TOTAL ESTIMATED FUNDS $12M $7.3M $9.7M $29M SAHA Experience in Preservation and Expansion SAHA has had extraordinary success in the past in adding affordably priced housing to the San Antonio market. The organization has also successfully managed a capital improvements and preservation program. For example, working in partnership SAHA has added close to 4,000 rental units in mixed-income developments in the past six years. Many of these were accomplished utilizing a combination of programs, including San Antonio Housing Authority Annual Moving-to-Work Plan FY 2011-2012 Page 20
[Moving-to-Work 2011-2012 Annual Plan] HOPE VI, Low Income Housing Tax Credits (LIHTC), Replacement Housing Factor (RHF) funds, and the use of HOME and Neighborhood Stabilization Program (NSP) funds. In addition to new units, new vouchers for San Antonio residents were obtained. Altogether, SAHA has increased its affordable housing inventory in San Antonio by 36% in the last ten years and invested over $20M in capital improvements the past two years. The following chart reflects SAHA‟s experience in expanding its affordable housing portfolio, to include Section 8 Vouchers and collaborative partnerships with the Private Sector to develop mixed-income developments which include deeply subsidized housing. Altogether, at least 75% of SAHA‟s affordable housing portfolio is affordable to households earning 50% or less of the Area Median Income (AMI). Affordable Housing Inventory from 1999 to 2010 2010 to 1999 Program 1999 2004 2010 % of Change Section 8 Vouchers 10,122 11,421 13,152 30% Public Housing 6,759 6,147 6,177 -9% TOTAL 80% or below Deeply Subsidized Housing 16,881 17,568 19,329 15% Affordable Rental Housing 2,540 2,628 2,893 13% Tax Credit Partnerships (Affordable) 375 4,138 1003% Total Housing Inventory 19,421 20,571 26,360 36% PURPOSE SAHA is committed to implementing a work plan to preserve and expand its affordable housing portfolio. In San Antonio, an estimated 200,000 households are eligible for some form of housing assistance. In order to address the demand for this housing, SAHA has prepared a work plan that reflects project priorities for both expansion and preservation to meet this demand. This has become increasingly important as the SAHA existing public housing portfolio is quite old, yet it is a valuable source of affordable rental housing. In order to meet this demand a combination of preserving existing housing stock and adding to the affordable housing available to households in San Antonio has been developed. In addition, SAHA has commissioned a Capital Needs Assessment that will provide more detailed information on the capital San Antonio Housing Authority Annual Moving-to-Work Plan FY 2011-2012 Page 21
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FY 12 Plan - HUD

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