Community Development Resources

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Community Development Resources
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Bonita Street House of Hope
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Bonita Street House of Hope
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Bonita Street House of Hope

• Sources of Funds
• Bank Financing 1,720,000
• Foundation 1 250,000
• Foundation 2 204,259
• Foundation 3 50,000
• Foundation 4 10,000
• Office of Community Services 186,200
• City of Houston HOPWA 400,000
• City Homeless Bonds 1,116,900
• FHLB AHP Funds 350,000
• TOTAL SOURCES OF FUNDS 4,287,359

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Bonita Street House of Hope

• Features
• 62 Units of Transitional/Permanent Housing for
  200 Women and Children
• Computer Lab
• On-site Daycare Center
• Full Service Cafeteria

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Washington Courtyards
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Washington Courtyards
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Washington Courtyards
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Washington Courtyards
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Washington Courtyards

• Sources of Funds
• Tax Credit Equity 2,032,000
• Bank Financing 2,900,000
• TIRZ Funding 112,000
• FHLB AHP Funds 87,560
• TOTAL SOURCES OF FUNDS 5,131,560
• Environmental assessments paid by City of
  Houston due to this being a Brownfield site

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Washington Courtyards

• Features
• 74 Units
• - 30 units at market rate
• - 29 units at 51 60 of median income
• - 15 units at 50 or below median income
• On Site Computer Lab
• Homebuyer Training Classes
• Swimming Pool

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Washington Courtyards

• Features
• Avenue CDC Corporate Offices
• FHLB CIP Fixed Rate Financing _at_ 7.35 for 31.5
  years

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Delaney Development
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Delaney Development
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Delaney Development
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Delaney Development
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Delaney Development

• Features
• 50,560 FHLB AHP Funds
• - down payment and closing cost assistance
• 13 Affordable Housing Single Family Units
• Targeting
• - 6 units _at_ 61 - 80 of median income
• - 4 units _at_ 60 of median income
• - 6 units _at_ 50 or below median income

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Delaney Development

• Features
• 5 Homes Sold Prior to Construction
• PMI/Gateway Initiative
• - interest free loan for construction costs
• Landscaping Provided by Volunteer Labor from
  Christus Health and GE

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Summer Street Rentals
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Summer Street Rentals
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Summer Street Rentals
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Summer Street Rentals
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Summer Street Rentals

• Sources of Funds
• Amegy Bank Financing 220,000
• City of Houston 298,000
• FHLB AHP Funds 72,000
• LISC (soft costs) 4,200
• NeighborWorks 30,000
• Enterprise Foundation 5,000
• Avenue CDC Equity 34,000
• TOTAL SOURCES OF FUNDS 663,200

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Summer Street Rental

• Features
• 9 Units of Rental Housing
• Monthly Rental Rates from 265 to 460
• 3 duplexes, 2 Single Family Homes and 1 Garage
  Apartment
• Existing Tenants Remained in Homes after
  Significant Renovations
• Maintains Affordable Housing Resources in the
  Community