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2013 Missouri Housing Summit. Spotlight on Veterans and Special Needs Housing. Missouri LIHTC Program. 2011 Special Needs Housing Priority. St. Louis Veterans Housing. Developer: The Salvation Army, an Illinois Corp. General Partner: The Salvation Army Services Inc.

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2013 missouri housing summit

2013 Missouri Housing Summit

Spotlight on Veterans and Special Needs Housing


Missouri lihtc program
Missouri LIHTC Program

  • 2011 Special Needs Housing Priority


St louis veterans housing
St. Louis Veterans Housing

  • Developer: The Salvation Army, an Illinois Corp.

  • General Partner: The Salvation Army Services Inc.

  • Development Consultant: Hill, Devine & Gong (CA)

  • Architect: Trivers Associates (STL)

  • Attorney: PolsinelliShughart (STL)

  • Accountant: Sabino & Associates (STL)

  • Contractor: Paric (STL)

  • Manager: McCormack Baron Ragan

  • Equity Investor (Federal) : St. Louis Equity Fund and First National Bank of St. Louis

  • Equity Investor (State): Sugar Creek Investment and First National Bank of St. Louis


St louis site information
St. Louis Site Information

  • Vacant city block

  • Owned by TSA, IL Corp

  • No unusual site conditions

  • No environmental issues

  • Zoned multi-/single family residential

  • Neighboring commercial properties

    • NIMBY/NIMPF – “Not in my pedestrian flow”

    • Veterans, but not low-income

    • “People sleeping on the floor”

    • “Persons with mental illness”


St louis veterans project development plan
St. Louis Veterans ProjectDevelopment Plan

  • New Construction began November 2011

  • 2 buildings –

    • legally and physically

    • transitional and permanent housing

  • 49 units

    • 5 studio floor plans (2 ADA) – 411-437 sq. ft. - $410 rent range

    • 43 1 BR floor plans (3 ADA) – 430-450 sq. ft. - $450-560 range

    • 1 2BR resident manager unit (ADA) - 656 sq. ft.

  • 21,387 sq. ft. residential living area

  • 38,062 sq. ft. total area

    • Social services and staff offices, multiple size meeting rooms, computer and study room, lounges, etc.

  • Completed October 2012


Apartment spaces
Apartment Spaces

Transitional Housing One Bedroom Furnished Unit


Development sources uses
Development Sources & Uses

  • Development Revenue Sources

    • MHDC Permanent (HOME) $600,000

    • Total LIHTC Equity $7,475,356

      • $815,000 Federal LIHTC Credit

      • $250,000 State LIHTC Credit

    • Federal Home Loan Bank AHP $480,000

    • The Salvation Army $404,181

    • General Partner Equity $1,000

    • Total Revenue $8,960,537


Development sources uses1
Development Sources & Uses

  • Construction Period Funding

    • The Salvation Army Construction Loan $6,637,103

    • MHDC Construction Loan $600,000

    • Tax Credit Equity Paid During Construction $747,534

    • Dev Fee Paid After Construction Completion $685,000

    • Operating Reserve (escrow) $200,000

    • Replacement Reserve (escrow) $29,400

    • Lease-up Reserve $61,500

    • Total Costs $8,960,537


Development sources uses2
Development Sources & Uses

  • Total Construction Costs $6,246,090

  • Architect and Engineering $435,000

  • Construction Interest $199,347

  • Contingency $346,000

  • Furniture and Fixtures $150,000

  • Acquisition Costs $86,750

  • Developer Fee $685,000

  • Consultant Fee $210,000

  • Operating Reserve $200,000

  • Replacement Reserve $29,400

  • Social Service/Emergency Reserve $87,000

  • Other Development Costs $285,950

  • Total Development Costs $8,960,537


St louis veterans residence
St. Louis Veterans Residence

Larger Meeting Room

Computer Room


Units type and funding breakdown
Units Type and Funding Breakdown

  • 24 transitional housing

    • Dept. of Veterans Affairs Grant & Per Diem (GPD)

  • 24 permanent housing

    • 18 Veterans Affairs Supportive Housing (VASH) project based

    • 6 Project-Based Section Eight (PBV)

  • 1 resident manager unit


Veterans housing gpd experience
Veterans Housing GPD Experience

  • Life Safety Standards–Board & Care/New Apartments

  • Veterans Retraining Assistance Program(VRAP) & IRS

    • Federal job training program provides 1 year training aid to unemployed Veterans in community or technical college

    • Internal Revenue Code excludes full-time students from LIHTC w exception for f/t student in job training receiving aid under JTPA or other similar federal program

    • VRAP appears to meet f/t student exception but no IRS guidance, need private letter ruling for reliable answer

    • Lease-up threat & counterproductive goal


Vash experience
VASH Experience

  • Housing First Approach

    • Applicants identified by VA difficult to find during lease-up

    • Lowered intake standards on credit and prior offenses

    • Security deposits unpaid or waived

    • Tenants occupy without furniture – TSA provided some

  • Case Management

    • Residents engaged in substance abuse and have not voluntarily entered treatment

    • VASH case managers absent from facility /other case loads

    • TSA initiated weekly meeting with VA and e-mail reports

    • VASH residents failing to pay rent & now facing eviction


Apartment floor common areas
Apartment Floor Common Areas

Outside Smoking Decks

Inside Socializing Lounges


Veterans housing experience
Veterans Housing Experience

  • Differing perspectives between TSA & VA on tenant leasing

    • Client v. tenant orientation

    • VA not understanding management time frames – lease up

  • Differing perspectives between GPD residents practicing recovery and VASH residents actively using



  • Gary Busiek, MSW

  • (314) 646-3011

  • [email protected]


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