|
What are we doing with our U.S. Department of Housing & Urban Development
funds to move towards the outcomes we want to see? We’ve set the following goals
for CDBG, HOME and Lead Safe Homes expenditures and leveraged funds over the
next five years, and have achieved the following results to date.
|
Household Income Level: |
0 - 30% of MFI |
31 - 50% of MFI |
51% - 80% of MFI |
TOTAL |
CDBG Funds |
HOME Funds |
Other Funds Leveraged |
Other Fund Sources |
| New Rental Units: 5-Year Goal |
160 |
115 |
100 |
375 |
$490,000 |
$1,297,615 |
$52,587,385 |
|
| Completed |
17
|
11 |
25 |
53 |
$152,359 |
$450,000 |
$9,349,974 |
|
| O'Dell* |
1 |
0 |
2 |
3 |
$25,000 |
|
$117,552 |
State HOME, State
CDBG, mortgages, VHCB, HUD, VHFA, HVT loan, REEP, LIHTC |
|
300 Lake Street (Depot St.) |
12 |
8 |
10 |
30 |
$127,359 |
$450,000 |
$5,462,422 |
HTF, VHCB,
Merchants Bank, NR, LIHTC, Construction Loan, Section 108 |
|
Shelburne Affordable Housing |
4 |
3 |
13 |
20 |
|
|
$3,770,000 |
Estimated project
cost |
| Predevelopment/Under
Appeal |
0 |
31 |
28 |
59 |
$39,451 |
$150,000 |
$13,350,000 |
|
| Bank
North |
0 |
11 |
21 |
32 |
$39,451 |
$150,000 |
$12,000,000 |
Estimated project
cost |
| Burgess
Electric |
0 |
20 |
7 |
27 |
|
|
$1,350,000 |
Estimated project
cost |
| New Owner Units: 5-Year Goal
|
20 |
15 |
25 |
60 |
$0 |
$0 |
$8,700,000 |
|
| Completed |
0 |
0 |
9 |
9 |
|
|
$1,025,000 |
|
| Benway
Common/235 Park St. |
0 |
0 |
7 |
7 |
|
|
$750,000 |
Inclusionary
zoning |
| Hood Plant
Phase 1 |
0 |
0 |
2 |
2 |
|
|
$275,000 |
Inclusionary
zoning - Estimated project cost |
| Underway |
0 |
4 |
37 |
41 |
$32,111 |
$365,000 |
$9,300,659 |
|
|
Venus Avenue |
0 |
4 |
4 |
8 |
|
$160,000 |
$800,000 |
Estimated
project cost |
| Cherry
Street |
0 |
0 |
10 |
10 |
|
|
$1,718,750 |
Inclusionary zoning - Estimated project cost |
| 21
Crowley |
0 |
0 |
1 |
1 |
$32,211 |
$148,000 |
$92,000 |
Estimated project
cost |
| 354
Manhattan Dr. |
0 |
0 |
2 |
2 |
|
|
$266,667 |
Inclusionary
zoning - Estimated project cost |
| 192
East Avenue (Turner Property) |
0 |
0 |
17 |
17 |
|
$121,000 |
$6,483,750 |
Estimated
project costs (including Section 108) |
| Predevelopment/Under
Appeal |
0 |
0 |
45 |
45 |
$15,621 |
|
$6,169,100 |
|
| 114
College St. |
0 |
0 |
7 |
7 |
|
|
$420,000 |
Inclusionary
zoning - Estimated project cost |
| 237
North Avenue |
0 |
0 |
3 |
3 |
|
|
|
Inclusionary
zoning |
| Blodgett St. Condos |
0 |
0 |
12 |
12 |
$15,621 |
|
$1,765,100 |
Bank and private debt,
Housing Trust Fund, BCLT equity |
| Buyer Assist: 5-Year Goal
|
10 |
13 |
35 |
58 |
$20,000 |
$250,000 |
$8,294,000 |
|
| Completed |
7 |
30 |
29 |
66 |
$15,901 |
$59,000 |
$8,938,835 |
|
| 03 BCLT
Homeownership Ctr. |
0 |
6 |
5 |
11 |
$5,901 |
|
$1,521,437 |
VHCB, BCLT, NR,
bank mortgages, Section 8, VHFA, inclusionary zoning grant, owner |
| 03 HIP
Down Payment Assistance |
0 |
0 |
3 |
3 |
$10,000 |
|
$485,731 |
EDI, mortgage,
owner cash |
| 04 HIP
Down Payment Assistance |
0 |
1 |
3 |
4 |
|
$59,000 |
$856,667 |
EDI,
mortgage, owner cash, BCLT |
| 04 BHA
Section 8 Homeownership |
1 |
4 |
0 |
5 |
|
|
$600,000 |
Estimated
Section 8, bank debt, owner |
| 04
BCLT Homeownership Ctr. |
3 |
8 |
12 |
23 |
|
|
$2,875,000 |
Estimated
VHCB, BCLT, NR, bank debts, VHFA, inclusionary grant, owner |
| |
|
|
|
|
|
|
|
|
| 05 BHA
Section 8 Homeownership |
3 |
8 |
0 |
11 |
|
|
$1,430,000 |
Estimated Section 8,
bank debt, owner |
| 05 BCLT
Homeownership Ctr. |
0 |
3 |
6 |
9 |
|
|
$1,170,000 |
Estimated VHCB, BCLT,
NR, bank debts, VHFA, inclusionary grant, owner |
| Rehab Rental Units: 5-Year Goal
|
135 |
90 |
100 |
325 |
$200,000 |
$625,000 |
$5,000,000 |
|
| Completed |
191 |
115 |
113 |
419 |
$72,716 |
$546,735 |
$6,007,015 |
|
| 03 BCLT |
6 |
0 |
0 |
6 |
$12,014 |
|
$134,250 |
Equity, NR, Debt,
Owner |
| 03 HIP
Rehab |
1 |
1 |
2 |
4 |
$1,092 |
|
$219,427 |
Section 108 |
| 03 HIP
Free Paint |
8 |
1 |
4 |
13 |
$3,641 |
|
|
|
| 03 HIP
Smoke Detectors |
27 |
3 |
2 |
32 |
$5,064 |
|
$8,760 |
Owners |
| 04 HIP
Access |
1 |
1 |
0 |
2 |
$5,900 |
|
$9,806 |
Owners,
VCIL |
| 04 HIP
Smoke Detectors |
17 |
4 |
1 |
22 |
$3,913 |
|
$6,134 |
Owners |
| 04 HIP
Paint |
7 |
5 |
2 |
14 |
|
|
$2,266 |
|
| St.
John's Hall (Permanent Supportive) |
22 |
0 |
0 |
22 |
$25,000 |
|
|
|
| 05 HIP Smoke
Detector |
4 |
0 |
1 |
5 |
$687 |
|
$1,762 |
Owners |
| 05 HIP Free
Paint |
1 |
2 |
3 |
6 |
$1,125 |
|
|
|
| BCLT
ONE Affordable Housing |
10 |
6 |
12 |
28 |
$24,172 |
$593,920 |
$3,375,388 |
Equity (LITHC),
debt, VHCB, Housing Trust Fund, Neighborhood Revitalization, Lead
Paint |
|
Peterson Place |
9 |
4 |
0 |
13 |
|
$196,735 |
$972,875 |
VHFA,
Housing Trust Fund |
|
Northgate |
75 |
93 |
93 |
261 |
|
$350,000 |
$3,750,000 |
Estimated project
cost |
| Underway |
10 |
6 |
12 |
28 |
$75,028 |
$593,920 |
$3,644,529 |
|
|
Callahan |
10 |
6 |
12 |
28 |
$75,028 |
$593,920 |
$3,644,529 |
Equity,
Debt, Housing Trust, Fund, Neighborworks, other |
| Rehab Owner Units: 5-Year Goal |
40 |
26 |
60 |
126 |
$100,000 |
$250,000 |
$250,000 |
|
| Completed |
5 |
8 |
14 |
27 |
$84,760 |
$40,000 |
$262,319 |
|
| 03 BCLT |
0 |
0 |
1 |
1 |
$930 |
|
$3,500 |
BCLT/VHCB
Revolving Loan Fund |
| 03 HIP
Emergency Repair/Rehab |
0 |
3 |
1 |
4 |
$16,274 |
|
$1,640 |
Owner,
Weatherization |
| 03 HIP
Free Paint |
0 |
2 |
4 |
6 |
$1,557 |
|
|
|
| 04 HIP
Access |
2 |
0 |
2 |
4 |
$8,818 |
|
$15,119 |
VCIL |
| 04 HIP
Paint |
1 |
2 |
3 |
6 |
$1,509 |
|
|
|
| 05 HIP Access |
0 |
0 |
1 |
1 |
$5,000 |
|
$985 |
Owner |
| 05 HIP Free Paint |
1 |
0 |
1 |
2 |
$867 |
|
|
|
| 05 HIP Emergency
Repair/Rehab |
0 |
1 |
1 |
2 |
$6,365 |
|
|
|
| 24
Volz St. |
1 |
0 |
|
