AFFORDABLE HOUSING WAS IN SHORT SUPPLY BEFORE 2004.

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AFFORDABLE HOUSING WAS IN SHORT SUPPLY BEFORE
2004.

• The situation in Northwest Florida was far from
  ideal even back in the
• pre-Hurricane Ivan period.
• In Escambia County, it was already difficult to
  find workforce housing prior to 2004. Then,
• when Hurricane Ivan hit, more than 2,000 units
  of rental housing were lost and
• 53,000 homes were damaged or destroyed.

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HURRICANE IVANS AFTERMATH 2004
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WHEN DENNIS HIT IN 2005 WORK STARTED -- OR
FINISHED --NEEDED TO BE BEGUN ALL OVER
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THE DOUBLE WHAMMY OF IVANTHEN DENNIS
DENNIS July 10, 2005 Costs 4billion damage

• IVAN -- Sept 16, 2004
• 53,000 Homes Damaged or Destroyed
• Costs 13B
• 2,000 Affordable Rental Units Gone

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MADE THINGS WORSE AND THE CRISIS CONTINUES

• 2005 Our poverty rate 19
• 1st in Florida / 17th in the nation!
• 2006 Children in poverty 26
• 29 of our residents do not have a HS diploma
• 192nd out of 233 large counties nationwide in the
  number of bachelors degrees
• 1 in 5 residents are without health insurance
• We are 17 below the state average in wages

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THE CRISIS IN AFFORDABLE HOUSING IN THE PENSACOLA
METRO AREA IS SEEN IN THE GROWING GAP!
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THEN THERES THE IMPACT FROM THE CRISIS ON
AFFORDABLE HOUSING

• 1 in 4 households pay more than 30 of income on
  housing
• 38 of renters spend more than 30 of income on
  housing
• (Half of these households spend 50or more on
  housing)
• Rent is up 12, median home prices up 60! since
  2004
• Wages/Income are Flat
• 500 families remain in FEMA mobile homes
• Racial disparities persist
• income (21K for Blacks / 31K for Whites)
• home ownership (74 Whites / 47 Blacks)

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SEEKS TO BE PART OF THE SOLUTION
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• INTERFAITH HOUSING COALITION of Northwest Florida
• OUR MISSION
• Building communities
• through the creation of
• quality affordable homes

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SO, WHAT DOES THE WORD AFFORDABLE MEAN TO IHC?

• The standards set by the Department of Housing
  and Urban Development (HUD) define affordable
  as requiring no more than 30 of family gross
  monthly income
• Principal, interest, taxes insurance for
  homeowners
• Monthly rent and utilities for renters

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BUT THAT STILL DOESNT TELL US WHO WILL BE LIVING
IN THE IHC COMMUNITY!

• IHC will create a
• community that offers
• homes for working families,
• ensuring that there are
• significant housing choices
• for families
• earning 30-45,000 a year or even less.

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WHAT DOES IHC MEAN BYMIXED-INCOME COMMUNITY?

• Mixed-income defines a defined area in which
  homes are attainable by families at a variety of
  income levels, even lower incomes.
• When IHC talks about mixed-income, we mean a
  community that includes
• single-family multi-family homes
• that ordinary, Northwest Florida, working
  families can afford to purchase or rent.

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AND THOSE ARE?

• TEACHERS
• FIREFIGHTERS
• POLICE OFFICERS
• RETAIL SALESPEOPLE
• HEALTHCARE AND HOSPITAL WORKERS
• PEOPLE IN THE HOSPITALITY INDUSTRY
• ADMINISTRATIVE AND SUPPORT WORKERS
• THE ELDERLY AND THE DISABLED
• FOLKS (JUST LIKE YOU AND ME) WHO HAVE BEEN
• PRICED OUT OF THE LOCAL HOUSING MARKET
• DUE TO RISING PRICES AND LIMITED CHOICES

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HUH?

• An example might help
• John, a 10-year veteran of the Escambia County
  Fire Department is at the mid-point on the civil
  service pay scale and earns 32,826/year. John
  is married and has two young children. His wife,
  Susan, works 20 hours/week at a local store
  earning 7/hour. Their combined income is
  40,106. Depending on their ability to save,
  John and his family can afford a house in the
  110-120,000 range. Hard to find these days!

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HERES ANOTHER REAL-LIFE EXAMPLE

• Cindys a native Pensacolian who has recently
  earned her Masters degree in Speech Therapy. She
  got a job with the Escambia County School
  District starting at 30,978. Cindy could budget
  about 775/month for housing costs. So, until she
  can save enough to buy her own home, Cindy can
  rent even more affordably in the IHC community
  while growing her savings and keeping her roots
  in the hometown community she loves.

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HOW IS THIS NEW COMMUNITY GOING TO COME ABOUT?

• IHC has learned from other not-for-profit
  development models that share the same goals and
  that have made this work in other places.
• IHC is working as a colleague agency with the
  other not-for-profit organizations seeking to
  solve the affordable housing crisis in Pensacola.
• IHC is counting on the faith communities for
  their wisdom, leadership, financial support,
  referrals, accountability and their prayers.

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HERES OUR STRATEGY

• Partnerships
• - Interfaith Community
• - Local Residents
• - Service Providers
• - Financiers
• - Developers
• Mixed Use/Mixed Income
• Scale
• Community Transformation

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SO, ITS JUST ABOUT BUILDING MORE HOUSING?

• NO, ITS ABOUT BUILDING COMMUNITIES.
• The plans are for a community center, parks,
  recreation areas, and retail and/or professional
  spaces to create
• a quality living environment for
• on-site residents and their neighbors!
• IHC can also count on our colleague agencies to
  provide the wrap-around services that will
  strengthen the fabric of the community.

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ONE SUCCESSFUL MODEL FROM WHICH WE LEARN
Sandtown-Nehemiah Baltimore, MD
1988
2003
1992
2004
2002
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ARE YOU COUNTING ON ALL THIS FINANCING BEING
RAISED LOCALLY?

• NO. Working with a development partner, IHC will
  seek support from government and private funding
  sources beyond the local area, as well.
• The faith communities will be asked to continue
  to provide gifts and loans that signal the
  communitys own deep commitment to this
  interfaith effort moving ahead to solve this
  local problem.

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WHERES THE FINANCING REALLY COMING FROM?

• For a strong partnership in building communities
  IHC will partner with and a multi-layered
  financing collaborative, including

• Faith communities gifts and loans
• Individual corporate community support
• Low Income Housing Tax Credits
• CDBG/HOME dollars
• Private construction financing

• Federal Home Loan Bank grants
• Tax exempt bonds
• Fannie Mae funding
• State Housing Funds (SHIP/HHRP)
• Federal Housing money

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THE PROGRESS TO-DATE

• IHC has 26 acres on which to build
• IHC has access to predevelopment funding of
  500,000 to initiate preparation of the site
• IHC is now beginning the vital community-input
  stage to gather ideas from the surrounding
  neighborhood residents about their hopes
• IHC has chosen an architectural collaboration
• Quina Grundhoefer Architects and
• Architectural Affairs to design the site.
• IHC has received grants from the Fannie Mae
  Foundation, Catholic Charities USA, Wachovia and
  Bank of America and the Presbytery of Florida
  and anticipates more.

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WILL THIS BE IHCS ONLY EFFORT?

• NO.
• IHC plans for this to be the first of many
  transformational communities to be built in
  Escambia and Santa Rosa counties to help meet
  this critical need.
• Once this development is underway, the IHC Board
  will begin consideration of future sites for
  additional communities.

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Building communities through the creation of
quality affordable homes
Conceptual Plan