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Using Tax Credits to Create Supportive Housing

Using Tax Credits to Create Supportive Housing. Holly Denniston-Chase Loan Officer. What We Do. CSH is a touchstone for new ideas and best practices, a collaborative and pragmatic community partner, and an influential advocate for supportive housing.

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Using Tax Credits to Create Supportive Housing

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  1. Using Tax Credits to Create Supportive Housing Holly Denniston-Chase Loan Officer

  2. What We Do CSH is a touchstone for new ideas and best practices, a collaborative and pragmatic community partner, and an influential advocate for supportive housing. • Powerful capital funds, specialty loan products and development expertise Research-backed tools, trainings and knowledge sharing Custom community planning and cutting-edge innovations Systems reform, policy collaboration and advocacy

  3. Supportive Housing Training Center

  4. Southview Villas, Hope Mills, NC Rural Integrated Supportive Housing 64 units (48 one-bedroom and 16 two- bedroom units)

  5. Financial Information Capital LIHTC Equity (Investor: Raymond James) $3,945,156 State Tax Credit $1,031,407 Cumberland County Community Loan Fund Loan $ 400,000 Deferred Developers Fee $ 113,615 Bank Loan $ 564,000 Total $6,054,178 Operating (Annual) Net Rental & Other Income $ 273,335 Rental Income from Key Program $ 28,320 Services (Annual) Provided free of charge to residents by Local Lead Agency and its referral agencies, primarily funded by North Carolina Department of Health and Human Services.

  6. North 17 Apartments, Phoenix, AZ Supportive Housing Using Foreclosed Property 72 apartments (36 one-bedroom and 36 two-bedroom units) and on-site offices.

  7. Financial Information Capital AZ Department of Housing, NSP Grant $6,300,000 FHLB, Affordable Housing Program Grant $ 900,000 Total $7,200,000 Operating (Annual) Property operations $ 79,937 Rent collection $ 432,000 Services (Annual) VSUW Supportive Housing Grant $ 50,000 VSUW Working Poor Grant $ 27,500 Community Bridges, in-kind services $ 0 Private Donations $ 20,000 Total $ 97,500

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