South Carolina Housing Trust Fund

1. South Carolina Housing Trust Fund An Introduction for New Participants January, 2006

2. Presentation Overview • Trust Fund Activities • Emergency Repair • Owner-Occupied Rehabilitation • Homeownership Acquisition • Trials and Tribulations • What Now?

3. Trust Fund Activities • Emergency Repair • Owner-Occupied Rehabilitation • Homeownership Acquisition • Rental • Supportive Housing • Land Acquisition • Group Homes

4. Emergency Repair

5. Emergency Repair Definition • Be the result of a recent event, such as a fire or flood; • Not be the result of accumulated deferred maintenance (see Owner-Occupied Rehabilitation activity); • Not be covered by existing insurance. Emergency Repair means required repairs to owner-occupied units that are necessary to eliminate clear and present danger(s) to the occupant(s). In order to be classified as an emergency, the deficiency(s) to the unit must: Other conditions that will be considered in determining qualification as an emergency for purposes of this program include: • Units occupied by children under the age of 12; • Units occupied by disabled individuals of any age; • Conditions that, if not repaired immediately, would cause further or irreparable damage; • Units where the heating, cooling, electrical, or plumbing systems are not functioning or do not exist.

6. Emergency Repair Basic Information • Can be applied for at any time • NOT available as a block grant • Cannot have more than one Emergency Repair on a property

7. Emergency Repair Eligibility… • Owner-Occupied units ONLY • Fall within income limits • Clear and present danger to occupants • NOT the result of deferred maintenance • NOT covered by existing insurance

8. Emergency Repair Special consideration for… • Units occupied by the disabled • Units occupied by children under 12 • Problems with major systems (i.e. plumbing, HVAC, electrical, etc.) • Repairs to prevent future or ongoing damage

9. Emergency Repair Workflow Identify and pre-qualify household Submit Application and exhibits to HTF Work Completed – Inspection & Draw Requested Complete Emergency Repair Application HTF Reviews & Approves – Inspection Ordered Inspection Performed Gather all items listed in Emergency Repair Checklist Emergency Repair Agreement Executed – Work Begins Draw Paid

10. Emergency Repair Workflow Helpful Hints… • Submit a COMPLETE application • Begin work within 30 days of application – Finish within 90 days • Make sure you have proof of income • Check your deed, recheck your deed, and then recheck your deed again • Mobile homes CANNOT be more than 28 years old – Owners must have title to both the land and the home

11. Emergency Repair Workflow Application Checklist • Application form • Site map & directions from the Authority • Deed (Check it!!) • Photographs (Front/back & area to be rehabilitated • Work write-up • Contractor’s license & Liability Insurance – Both current and valid

12. Emergency Repair Workflow Application Checklist Continued • Income Certification, verification, documentation • Documentation of the emergency… tell us a good story, and provide any backup • Documentation of uninsured loss • Financial commitments, if any

13. Owner-Occupied Rehabilitation

14. Owner-Occupied Rehabilitation Basic Information • Can be applied for during open application cycles • ONLY available as a block grant • Cannot have more than one Rehabilitation on a property • Owner-Occupied units ONLY • Fall within income limits

15. Owner-Occupied Rehabilitation Two pieces to the process… • Block Grant Application • “Reserves” funds • Apply during open cycle • Owner-Occupied Beneficiary Request • Can be submitted at any time with an open Block Grant • Must contain all beneficiary information and work write-ups

16. Block Grant Application Completed and Submitted Beneficiary Request Prepared – With Exhibits Draw Requests HTF Reviews and Authority Board Approves HTF Reviews & Approves – Inspection Ordered Final Inspection Performed Technical Assistance – Funding Agreement Signed Restrictive Covenants Signed – Work Begins Draw Paid – File Closed Owner-Occupied Rehabilitation Workflow Block Grant Process Beneficiary Process

17. Owner-Occupied Rehabilitation Workflow Helpful Hints… • Don’t submit Beneficiary Requests until you’re ready to begin work • Begin work within 30 days • Make sure you have proof of income • Check your deed, recheck your deed, and then recheck your deed again • Take your time on the work write-up – the homeowner has to live with it

18. Owner-Occupied RehabilitationWorkflow Beneficiary Request Checklist • Beneficiary Request form • Site map & directions from the Authority • Deed (Check it!!) • Photographs (Front/back) • Work write-up • Contractor’s license • Income Certification, verification, documentation • Financial commitments, if any

19. Homeownership Acquisition

20. Homeownership Acquisition Basic Information • Can be applied for during open application cycles • ONLY available as a block grant • Used for down payment and closing costs • Fall within income limits

21. Homeownership Acquisition Two pieces to the process… • Block Grant Application • “Reserves” funds • Apply during open cycle • Homeownership Beneficiary Request • Can be submitted at any time with an open Block Grant • Must contain all beneficiary and property information

22. Block Grant Application Completed and Submitted Beneficiary Request Prepared – With Exhibits Closing Documents Retuned to HTF HTF Reviews and Authority Board Approves HTF Reviews & Approves Technical Assistance – Funding Agreement Signed Closing Documents & Check sent to Closing Attorney Homeownership Acquisition Workflow Block Grant Process Beneficiary Process

23. Homeownership Acquisition Workflow Helpful Hints… • Don’t submit Beneficiary Requests until the closing date is set • Allow three (3) weeks for processing • Make sure you have proof of income • Use an experienced closing attorney

24. Homeownership Acquisition Workflow Beneficiary Request Checklist • Beneficiary Request form • Site map & directions from the Authority • Copy of full appraisal • Photographs (Front/back) • Homebuyer’s Counseling certificate • Closing attorney information • Income Certification, verification, documentation • Financial commitments

25. Trials and Tribulations

26. Trials and Tribulations It’s the little things…. • Submit COMPLETE documentation – Incomplete submissions will be returned • Deeds – Learn to read and understand them • Work write-ups are NOT estimates – You and the homeowner have to live with them • Don’t order inspections that you’re not ready for • We don’t print checks, the State Treasurer does, so allow at least two weeks

27. Trials and Tribulations Even MORE little things…. • Don’t submit Beneficiary Requests until you’re ready to do the deal • Don’t request more money in a Block Grant than you can realistically use in a year • My ears are ringing, and so is the phone – Email us! Get a written response! • Check that income, verify that income, document that income

28. What Now?

29. What Now? Getting Started • Become an approved HTF non-profit organization • Identify needs in your community – Start small • Get organized FIRST and then arrange for some one-on-one training • Visit our website: www.SCHousing.com

30. HTF Contact Information SC State Housing Finance & Development Authority Housing Trust Program300 C Outlet Pointe Blvd.Columbia, SC 29210 803/896-9001 www.SCHousing.com

31. HTF Contact Information

32. www.SCHousing.com