PERMANENT SUPPORTIVE AFFORDABLE HOUSING

1
PERMANENT SUPPORTIVE AFFORDABLE HOUSING
MAG Regional Council January 25, 2005
2
PERMANENT SUPPORTIVE AFFORDABLE HOUSING

• HOUSING NEED
• County-wide
• 1549 individuals
• 749 families
• Human Services Campus experience
• 50 60 individuals ready for housing placement

3
PERMANENT SUPPORTIVE AFFORDABLE HOUSING

• PROPOSED SOLUTION
• Establish a multi-source, permanent funding
• stream that is not dependent on state and
• local government general funds, with which
• to build/purchase permanent housing
• options and supportive services.

4
PERMANENT SUPPORTIVE AFFORDABLE HOUSING

• POTENTIAL REVENUE/HOUSING SOURCES
• Revenue generated from sale of naming/promotional
  rights (Front Row)
• 4 million - 11 million cash and in-kind per
  year

5
PERMANENT SUPPORTIVE AFFORDABLE HOUSING

• POTENTIAL REVENUE/HOUSING SOURCES
• Maricopa County Phoenix Industrial Development
  Authorities
• Serve as issuers of tax exempt bonds for capital
  improvements request waiver of application fees
  and annual assessments
• Explore possibility of the Authorities loaning
  their own funds at below market rates
• Request the pledge of revenue received by the
  Authorities as issuers of single family mortgage
  revenue bonds
• Request the pledge of a portion of the revenues
  received by the Authorities from multi-family
  developers required to pay a public purpose fee

6
PERMANENT SUPPORTIVE AFFORDABLE HOUSING

• POTENTIAL REVENUE/HOUSING SOURCES
• Utilize vacant Maricopa County land parcels
• Maricopa County Housing Authority coordinate
  commitments from valley Housing Departments to
  prioritize/develop housing units

7
PERMANENT SUPPORTIVE AFFORDABLE HOUSING

• NEXT STEPS
• Task Continuum of Care with proposed policy
  resolution regarding multiple funding streams to
  create Permanent Supportive Affordable Housing
  throughout the County, as an adjunct to the MAG
  plan to end homelessness
• Consider partnering with Maricopa County and
  Front Row Marketing as one source of funding for
  Permanent Supportive Affordable Housing.