board of commissioners meeting - home forward · 2017-11-16 · resolution 17-11-01 authorizes home...

Board of Commissioners Meeting

Location:

Multnomah County Building 501 SE Hawthorne Blvd Portland, Oregon 97214

Date & Time:

November 21, 2017 6:15 PM

The Francis and Clare Commons at St. Francis Park Apartments Opened on October 15th.

Home Forward Board of Commissioners November 2017

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MEMORANDUM

To: Community Partners

From: Michael Buonocore, Executive

Director

Date: November 15, 2017

Subject: Home Forward Board of

Commissioners November

Meeting

The Board of Commissioners of Home Forward will meet on Tuesday, November 21, 2017

at the Multnomah County Building, 501 SE Hawthorne Blvd., in the Board of

Commissioners Room, at 6:15 P.M. The commission meeting is open to the public.

The meeting site is accessible, and persons with disabilities may call 503.802.8423 or

503.802.8554 (TTY) for accommodations (e.g. assisted listening devices, sign language,

and/or oral interpreter) by 12:00 pm (noon), Friday, November 17, 2017.


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AGENDA


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BOARD OF COMMISSIONERS MEETING

MULTNOMAH COUNTY BUILDING COMMISSIONERS BOARD ROOM

501 SE HAWTHORNE BLVD. PORTLAND, OREGON

November 21, 2017 6:15 PM

INTRODUCTION AND WELCOME PUBLIC COMMENT General comments not pertaining to specific resolutions. Any public comment regarding a specific resolution will be heard when the resolution is considered. MEETING MINUTES

Topic

Minutes of October 17, 2017 Board of Commissioners Meeting

MISSION MOMENT

Topic Presenter

St. Francis Park Wrap Up Trell Anderson, Catholic Charities


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CONSENT CALENDAR

Following Reports and Resolutions:

17-11 Topic Presenter/POC Phone #

01 Authorize a Professional Services Agreement with Impact Northwest for Service Provision of the Congregate Housing Services Program

Kimberly Gerhardt Adrianna Rickard

503.280.3747503.280.3703

02 Authorize Contract with Macias Gini & O’Connell LLP (MGO) for Financial Audit Services

Peter Beyer Kandy Sage

503.802.8538503.802.8585

03 Authorize Year 15 Exit for Fountain Place Limited Partnership

Molly Rogers Merrell Baker

503.802.8437503.802.8451

04 Authorize Year 15 Exit for Gateway Park Limited Partnership

Molly Rogers Chris Hughson

503.802.8437503.802.8483

REPORTS / RESOLUTIONS

Following Reports and Resolutions:

17-11 Topic Presenter/POC Phone #

PUBLIC HEARING

Moving to Work Fiscal Year 19 Plan Amendment

Tim Collier 503.802.8432

05 Authorize Organizational Values Michael Buonocore 503.802.8423

EXECUTIVE SESSION The Board of Commissioners of Home Forward may meet in Executive Session pursuant to ORS 192.660(2), following their regularly scheduled Board of Commissioners meeting. Only representatives of the news media and designated staff are allowed to attend. News media and all other attendees are specifically directed not to disclose information that is the subject of the session. No final decision will be made in the session.


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THE NEXT MEETING OF THE BOARD OF COMMISSIONERS The August Work Session will be on Wednesday, December 6, 2017 at 5:30 PM. The meeting will take place at Home Forward, 135 SW Ash Street in the Columbia Room. The next Board of Commissioners meeting will be Tuesday, December 19, 2017 at 6:15 PM. This meeting will take place at the Multnomah County Building, 501 SE Hawthorne Blvd, in the Commissioners Board Room. ADJOURN


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MEMORANDUM

To: Board of Commissioners

From: Adrianna M. Rickard, Congregate Housing Services Program Coordinator

503.280.3703

Kim Gerhardt, Resident Services Program Manager 503.280.3747


Subject: Authorize a Professional Services Agreement with Impact Northwest for service provision of the Congregate Housing Services Program

Resolution 17-11-01

The Board of Commissioners is requested to authorize Home Forward to enter into a contract with Impact Northwest for service delivery of the Congregate Housing Services Program (CHSP). Home Forward’s administration of CHSP aligns with the One Resource section of the Strategic Plan: There are deeper connections and continuity between the type of housing assistance we provide that allow us to meet the evolving needs of the people we serve. ISSUE The federal Congregate Housing Services Program (CHSP) provides meals and other supportive services to elderly residents and residents with disabilities. Participants receive various services and are provided at least one hot meal per day in a group setting with a goal of supporting and assisting these populations in maintaining independent living. Since 2006, Impact NW has provided contracted CHSP services for some of Home Forward’s most vulnerable residents who are elderly and/or living with a disability. These services include daily meals, on-site case management, housekeeping and laundry


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services, bathing assistance, medication reminders, and other supports that help individuals who are experiencing frailty or living with a disability to live independently for as long as possible. Resolution 17-11-01 authorizes Home Forward to enter into a three-year professional services contract with Impact NW in the amount of $900,0001 annually, beginning January 1, 2018. The contract provides Congregate Housing Services for residents who qualify at Dahlke Manor, Grace Peck Terrace, Holgate House, Rosenbaum Plaza and Unthank Plaza. Funding for the CHSP contract comes from an annual Housing and Urban Development (HUD) grant, from the Oregon Department of Human Services (DHS) in the form of Medicaid reimbursements, and from fees collected from participants of the program. The contract awarded in 2006 covered a five-year period with an option for the contractor to renew for an additional five-year period. The combined total of ten years for this contract expires on December 31, 2017, so Home Forward opened the contract up to a competitive process. A formal Request for Proposal was issued on August 14, 2017 to select qualified service providers from the area. Multiple organizations expressed interest and attended the Request for Proposal Pre-Proposal meeting on August 25, 2017. The Request for Proposal closed on September 13, 2017 and Home Forward received one proposal from Impact Northwest. To ensure we fully capture the successes of the program, the plan moving forward is to work with Impact Northwest in implementing additional benchmarks and service outcomes, which will continue to ensure customer satisfaction, program compliance, and alignment with our strategic plan. HUD and Aging Disability and Veteran Services for Multnomah County, our funding partners, have maintained ongoing support for the Congregate Housing Services Program so with continued funding provided through these relationships, and the collection of participant fees, we expect to administer the program within our approved budget.

1 This is the amount currently known to Home Forward; it is expected to vary slightly based on grant awards and contributions from other funding sources.


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RESOLUTION 17-11-01

RESOLUTION 17-11-01 AUTHORIZES HOME FORWARD TO ENTER INTO A PROFESSIONAL SERVICES AGREEMENT WITH IMPACT NW TO PROVIDE CONGREGATE HOUSING SERVICES WHEREAS, Home Forward of Portland, Oregon has solicited and received proposals for contracting with an agency to provide congregate housing services; and WHEREAS, one proposal was received and evaluated in compliance with Home Forward’s Public Contracting Rules; and WHEREAS, the proposing contracting agency, Impact NW, was chosen in compliance with Home Forward’s Public Contracting Rules; and WHEREAS, a professional services contractual agreement in excess of $100,000 requires Board approval prior to execution by the Executive Director; NOW, THEREFORE, BE IT RESOLVED, that the Board of Commissioners of Home Forward, acting as the Contract Review Board, authorizes the Executive Director to execute a professional services agreement with Impact NW for the provision of congregate housing services in an amount of approximately $900,000 annually for a duration of three years, dependent upon external funding levels, the contractor’s successful performance and continued funding. ADOPTED: NOVEMBER 21, 2017 Attest: Home Forward: Michael Buonocore, Secretary James M. Smith, Chair


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MEMORANDUM


From: Peter Beyer, Chief Financial Officer 503.802.8538 Kandy Sage, Controller 503.802.8585


Subject: Authorize Contract with Macias Gini & O’Connell LLP (MGO) for Financial Audit Services

Resolution 17-11-02

The Board of Commissioners is specifically requested to approve a contract with Macias Gini & O’Connell LLP to provide annual financial audit services to the Agency for fiscal years ending March 31, 2018 and December 31, 2018. ISSUE On November 12, 2010, Home Forward (HF) contracted with MGO to perform financial audit services for a period of three years by way of a competitive proposal process. The contract was then extended twice as allowed per the original agreement, for a period of another four years to perform audit services through fiscal year ending March 31, 2017. Based on the successful performance of MGO over the last seven years and the firm’s technical familiarity with Home Forward and its accounting and business process, staff is recommending a new contract with MGO for a period of another two years. This will assist HF accounting staff with the implementation of HF’s fiscal year-end to a calendar year for the Fiscal Years of March 31, 2018 and December 31, 2018 audit reports. Because the nature of this work is not project-driven but will benefit from an ongoing, long-term relationship of knowledge and trust, HF will utilize the new Public Contacting Rules and Procedures, contract rule 46-0340, to secure this procurement by way of direct negotiation. Once this two year contract is complete, it is staff’s intention to issue a formal


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Request for proposal (RFP) for the audit services for a five-year term beginning in Fiscal Year 2019. Home Forward has received a fee proposal from MGO for services which includes a modest 3% increase over the next two years from the Fiscal Year 2017 audit services fee. Staff believes that these fees are reasonable and remain competitive with the market for these services. The two year extension of the MGO contract will remain in effect through September 30, 2019. This will allow time for HF to present the final audit report for fiscal year ending December 31, 2018 at the June 2019 Board of Commissioners meeting for BOC approval and to submit the final submission of our FDS Report to HUD by September 30, 2019. During the November 8, 2017 meeting, the Audit and Finance Committee was informed of this approach to procure audit services for Fiscal Years March 31, 2018 and December 31, 2018. The proposed audit fees are:

Fiscal Year Ending March 31, 2018 = $210,185 Fiscal Year Ending December 31, 2018 = $216,490

The initial year cost is an increase of approximately $6,120 from the March 31, 2017 audit. Once this two year contract is completed, it is staff’s intention to issue a formal Request for Proposal (RFP) for the audit services for Fiscal Year December 31, 2019. Engaging MGO for another two years will allow accounting staff to focus its efforts on the implementation of a change in fiscal year-end without having to provide a new audit firm with initial year orientation to Home Forward’s systems, operations and accounting records. Staff believes that having MGO’s considerable expertise with Home Forward and governmental entities along with the local accounting firm presence of Perkins & Co., will provide a valuable resource to Home Forward management and Board to ensure that Home Forward’s financial activity and federal programs are in compliance with accounting standards and federal program requirements.


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RESOLUTION 17-11-02

RESOLUTION 17-11-02 AUTHORIZES APPROVAL TO ENTER INTO A CONTRACT WITH MACIAS GINI & O’CONNELL LLP FOR FINANCIAL AUDIT SERVICES

WHEREAS, Home Forward of Portland, Oregon requires financial audit services in compliance with state and federal law; WHEREAS, Macias Gini & O’Connell LLP has performed successful audit services for Home Forward over a period of seven years and has technical familiarity with Home Forward and its accounting and business processes; WHEREAS, Home Forward’s contract and procurement rules allow for selection by negotiation for certain personal service contractors whose successful work depends on an on-going, long-term relationship based on knowledge and trust; WHEREAS, approval by the Board of Commissioners of Home Forward is required prior to execution of contracts or amendments exceeding $100,000.00; NOW, THEREFORE, BE IT RESOLVED: that the Board of Commissioners of Home Forward authorizes the execution of a contract with Macias Gini & O’Connell LLP to service as independent auditors and to audit the financial statements as of and for the years ending March 31, 2018 and December 31, 2018. ADOPTED: NOVEMBER 21, 2017 Attest: Home Forward: Michael Buonocore, Secretary James M. Smith, Chair


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MEMORANDUM


From: Merrell Baker, Asset Manager 503.802.8451 Molly Rogers, Director of Asset

Management and Policy 503.802.8437


Subject: Authorization to Acquire the Limited Partner’s interest in Fountain Place Apartments Limited Partnership, Transfer the Property to Home Forward

Resolution 17-11-03

Home Forward seeks to acquire full ownership of Fountain Place Apartments, currently held in a tax credit partnership. This approach is consistent with the one portfolio initiative of the strategic plan and supports actions to transition properties held in tax credit partnerships to Home Forward ownership. The Board of Commissioners is requested to authorize one or both of the following scenarios: (1) the acquisition of Key Community Development Corporation's interest in Fountain Place Apartments Limited Partnership, and if allowed by all parties; (2) the transfer of ownership of Fountain Place Apartments from the Partnership to Home Forward. US Bank is currently only allowing the transfer of the limited partner interest, not the ownership transfer to Home Forward. We are working with our attorney to persuade US Bank to agree to the ownership transfer. Regardless, the transfer includes one or more of the following actions:

The execution of documents necessary to acquire Key Community Development Corporation’s interest in Fountain Place Apartments Limited Partnership for one dollar ($1.00);

The execution of documents necessary to dissolve the Partnership and transfer its assets to Home Forward;


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The execution of assignment, assumption and subordination documents relating to US Bank, Portland Housing Bureau (PHB), Oregon Housing and Community Services (OHCS) and other liens or regulations tied to the property;

The execution of any other documents deemed necessary by our counsel to complete this transaction for either scenario.

Home Forward has engaged the law firm Kantor Taylor to assist with this transaction. We have obtained consent to this transfer from Key Bank. ISSUE In 2002, Home Forward entered into a Low Income Housing Tax Credit (LIHTC) Partnership to acquire and conduct minor rehab on Fountain Place Apartments, an 80-unit property located at 929 SW Salmon Street in Downtown Portland. The property consists of 62 studios, 15 one-bedroom, and three two-bedroom apartments. We utilized a combination of tax credit equity, a loan from US Bank, and funding from the Portland Housing Bureau to finance the development. In exchange for the tax credit equity, the Partnership provided Key Bank with 10 years of tax credits and tax losses. 2017 is the end of the 15-year LIHTC compliance period when Key Bank will exit the Partnership and Home Forward has the opportunity to become sole owner. Home Forward will purchase Key Bank’s interest for assumption of debt plus taxes and legal fees. In this case, we negotiated no exit taxes owed to Key Bank. Fountain Place Apartments is a 106-year old, six story midrise apartment community, reserved for households with incomes between 30% and 80% of area median income. The property includes 20 units with project based rental assistance. The property has a contract with Giving Tree to provide resident services and social services activities for residents. Two other service agencies partner with Fountain Place: Northwest Pilot Project (NWPP) and Transition Projects, Inc. (TPI). NWPP refers homeless, low income, and disabled seniors to Fountain Place, and receives a preference for 10 of the 20 PBV units. TPI provides individuals with the services, resources, and tools they need to end their homelessness, secure housing, and maintain that housing, and receives a preference for the other 10 PBV units. Fountain Place will be responsible for legal fees associated with this transfer which are estimated to cost around $10,000. Fountain Place will pay legal fees from operating cash.


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Fountain Place recently began to achieve positive cash flow within the past two years and was able to pay off accrued General Partner (GP) fees due to Home Forward in the amount of $65,000. After the close of this transaction, Home Forward can continue to expect GP Fees from the property, although amounts surpassing GP Fees will be deposited into the reserve accounts to pay for substantial capital needs. We recommend Home Forward acts on its initial goal when it entered into the Partnership, which was to own the property outright. The 80 units at this property are set aside for individuals and families earning a maximum income between 30% and 80% of area median income. By taking ownership of this property, we would be preserving this valuable resource for the community. In addition to dissolution of the tax credit partnership, Home Forward will continue to seek full ownership of the premises as well.


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RESOLUTION 17-11-03

RESOLUTION 17-11-03 AUTHORIZES THE EXECUTION AND DELIVERY OF DOCUMENTS BY HOME FORWARD, ON ITS OWN BEHALF AND IN ITS CAPACITY AS GENERAL PARTNER OF THE FOUNTAIN PLACE APARTMENTS LIMITED PARTNERSHIP, TO EFFECTUATE THE TRANSFER OF THE LIMITED PARTNER’S INTEREST IN THE PARTNERSHIP TO HOME FORWARD AND THE SUBSEQUENT DISSOLUTION OF THE PARTNERSHIP AND DISTRIBUTION OF ITS ASSETS TO HOME FORWARD WHEREAS, Home Forward seeks to encourage the provision of long-term housing for low-income persons residing in the City of Portland, Oregon (the “City”); WHEREAS, ORS 456.120(18) authorizes Home Forward to enter into partnership agreements and to make loans to partnerships to finance, plan, undertake, construct, acquire and operate housing projects; WHEREAS, ORS 456.065 defines “housing project” to include, among other things, “any work or undertaking . . . to provide decent, safe and sanitary urban or rural housing for persons or families of lower income”; WHEREAS, Home Forward serves as the General Partner of Fountain Place Apartments Limited Partnership, an Oregon limited partnership (the “Partnership”), which Partnership owns and operates Fountain Place in Portland, Oregon (the “Project”); WHEREAS, the limited partner in the Partnership is Key Community Development Corporation, an Ohio corporation (the “Limited Partner”); WHEREAS, Home Forward desires to acquire the Limited Partner’s interests for a nominal fee (estimated to be $1.00);


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WHEREAS, upon the acquisition of the Limited Partner’s interests, Home Forward desires to take such steps as may be necessary to dissolve the Partnership and distribute its assets to Home Forward;

WHEREAS, in order to acquire the Limited Partner’s interests, dissolve the Partnership, and distribute the Partnership assets to Home Forward it will be necessary for the Partnership and/or Home Forward to obtain the consent of Oregon Housing and Community Services (the “Allocating Agency”), US Bank and Portland Housing Bureau (together the “Project Lenders”) and to execute such assignment and assumption agreements and other transfer documents as may be reasonably required by OHCS and the parties above; WHEREAS, Home Forward anticipates receiving Limited Partnership Purchase Agreement and Assignment and Assumption Agreement documents from Key Community Development Corporation outlining transfer conditions; and WHEREAS, ORS 456.135 authorizes Home Forward to delegate to one or more of its agents and employees such powers as it deems proper; NOW, THEREFORE, BE IT RESOLVED: 1. General Approval of Transfer of Partnership Interests. Home Forward hereby

approves the acquisition of the Limited Partner’s interests in the partnership and further approves taking such steps as may be reasonably required to then dissolve the Partnership and distribute its assets to Home Forward.

2. Approval of Partnership Documents. The documents as may be reasonably

required to effectuate the transfer of the Limited Partnership Interests to Home Forward are hereafter referred to as the “Partnership Documents”. The Chair of the Board, Home Forward’s Executive Director and their respective designees (each, an “Authorized Officer” and, together, the “Authorized Officers”), and each of them acting alone, are authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), the Partnership Documents; provided however, any Authorized Officer may approve on Home Forward’s behalf any further changes to the such documents including material changes, and such Authorized Officer’s signature on the final Partnership


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Documents shall be construed as Home Forward’s approval of such changes. The Authorized Officers (and each of them acting alone) are further authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), any other documents reasonably required to be executed by Home Forward or the Partnership to carry out the transactions contemplated by the Partnership Documents.

3. Approval of Transfer Documents. Home Forward anticipates that certain

assignment, assumption and consent documents will be required by the Project Lenders and the Allocating Agency pursuant to which Home Forward will agree to assume and be bound by the bond and loan documents and regulatory agreements and/or covenant affecting the Project (collectively the “Transfer Documents”). The Authorized Officers (and each of them acting alone) are authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), the Transfer Documents. The Authorized Officers (and each of them acting alone) are further authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), any other documents reasonably required to be executed by Home Forward or the Partnership to carry out the transactions contemplated by the Transfer Documents.

4. Approval of Dissolution of the Partnership and Distribution of Assets. Home

Forward further authorizes the Authorized Officers (and each of them acting alone) to take such steps and to execute and deliver such documents as may be necessary to dissolve the Partnership and distribute the assets of the Partnership to Home Forward. Such documents may include but are not limited to a certificate of dissolution, such deeds, bills of sale and/or other assignments as may be required to distribute all Partnership assets to Home Forward and the filing of those tax returns as may be necessary to effectuate the transfer of Limited Partnership Interests, the dissolution of the Partnership assets and the distribution of such assets to Home Forward.

5. Ancillary Documents. The Authorized Officers (and each of them acting alone) are

authorized on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership) to execute, deliver and/or file (or cause to be delivered and/or filed) any affidavits, certificates, letters, government forms, documents,


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agreements and instruments that any such Authorized Officer determines to be necessary or desirable: (i) to give effect to this resolution and/or (ii) to consummate the transactions contemplated herein.

6. Expenditures. Home Forward is authorized to expend such funds (and to cause

the Partnership to expend such funds from the operating reserve or any available reserves) as are necessary to pay for all filing fees, application fees, registration fees and other costs relating to the actions authorized by this resolution.

7. Acting Officers Authorized. Any action required by this resolution to be taken by the

Chair of the Board or Executive Director of Home Forward may, in the absence of such person, be taken by the duly authorized acting Chair of the Board or acting Executive Director of Home Forward, respectively.

8. Effective Date. This resolution shall be in full force and effect from and after its

adoption and approval.

ADOPTED: NOVEMBER 21, 2017 Attest: Home Forward: Michael Buonocore, Secretary James M. Smith, Chair


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MEMORANDUM


From: Chris Hughson, Asset Manager 503.802.8483 Molly Rogers, Director of Asset

Management and Policy 503.802.8437


Subject: Authorization to Acquire the Limited Partner’s interest in Gateway Park Apartments Limited Partnership and Transfer the Property to Home Forward

Resolution 17-11-04

Home Forward seeks to acquire full ownership of Gateway Park Apartments, currently held in a tax credit partnership. This approach is consistent with the one portfolio initiative of the strategic plan and supports actions to transition properties held in tax credit partnerships to Home Forward ownership. The Board of Commissioners is requested to authorize: (1) the acquisition of Key Community Development Corporation's (“KCDC”) interest in Gateway Park Apartments Limited Partnership; and (2) the transfer of ownership of Gateway Park Apartments from the Partnership to Home Forward. This includes the following actions:

The execution of documents necessary to acquire KCDC’s interest in Gateway Park Apartments Limited Partnership in exchange for the payment of a nominal fee (estimated to be $1.00);

The execution of documents necessary to dissolve the Partnership and transfer its assets to Home Forward;

The execution of assignment, assumption and subordination documents relating to Oregon Housing and Community Services (OHCS) and any other liens or regulations tied to the property;


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The execution of any other documents deemed necessary by our counsel to complete this transaction.

Home Forward has engaged the law firm Kantor Taylor to assist with this transaction. We have obtained consent to this transfer from KCDC. ISSUE In 2002, Home Forward entered into a Low Income Housing Tax Credit (LIHTC) Partnership to acquire and conduct minor rehab on Gateway Park Apartments, a 144-unit property located at 510 NE 100th Avenue, in Portland. The property consists of 61 one-bedroom, 47 two-bedroom, and 36 three-bedroom apartments. Gateway Park Apartments is a 54-year old, garden style community consisting of 12 two-story buildings, serving households with incomes between 50% and 60% of area median income. We utilized a combination of tax credit equity and a risk share bond loan from OHCS to finance the acquisition. In exchange for the tax credit equity, the Partnership provided KCDC with 10 years of tax credits and tax losses. 2017 is the end of the 15-year LIHTC compliance period when KCDC is expected to exit the Partnership and Home Forward will become the sole owner of the property. Home Forward will purchase KCDC’s limited partnership interest in exchange for assumption of debt plus taxes and legal fees. In this case, we negotiated no exit taxes owed to KCDC. Gateway Park will be responsible for legal fees associated with this transfer which are estimated to be $10,000. Gateway Park will pay legal fees from operating cash or reserves. Per the Partnership Agreement, KCDC is entitled to a cash flow distribution from 2016 operations as well as accrued limited partner fees, which are expected to be approximately $35,000. After the close of this transaction, Home Forward will continue to receive a yearly asset management fee from the property, although any cash flow after the asset management fees will be placed in the property’s reserve account to pay for anticipated future capital needs. A capital needs assessment (CNA) is currently in process, being prepared by Marsha Steffan. Due to the age of the property and the fact that several building systems (plumbing, roof, foundations) are at the end of their useful life, we anticipate the report will


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show significant immediate capital needs. Though the capital needs are great, exiting the partnership allows for a future re-syndication to preserve this asset for the Portland community. A larger preservation plan is underway and additional funds will be necessary. Gateway Park has approximately $225,000 in operating reserves and $185,000 in replacement reserves on hand.


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RESOLUTION 17-11-04

RESOLUTION 17-11-04 THE EXECUTION AND DELIVERY OF DOCUMENTS BY HOME FORWARD, ON ITS OWN BEHALF AND IN ITS CAPACITY AS GENERAL PARTNER OF THE GATEWAY PARK APARTMENTS LIMITED PARTNERSHIP, TO EFFECTUATE THE TRANSFER OF THE LIMITED PARTNER’S INTEREST IN THE PARTNERSHIP TO HOME FORWARD AND THE SUBSEQUENT DISSOLUTION OF THE PARTNERSHIP AND DISTRIBUTION OF ITS ASSETS TO HOME FORWARD WHEREAS, Home Forward seeks to encourage the provision of long-term housing for low-income persons residing in the City of Portland, Oregon (the “City”); WHEREAS, ORS 456.120(18) authorizes Home Forward to enter into partnership agreements and to make loans to partnerships to finance, plan, undertake, construct, acquire and operate housing projects; WHEREAS, ORS 456.065 defines “housing project” to include, among other things, “any work or undertaking . . . to provide decent, safe and sanitary urban or rural housing for persons or families of lower income”; WHEREAS, Home Forward serves as the General Partner of Gateway Park Apartments Limited Partnership, an Oregon limited partnership (the “Partnership”), which Partnership owns and operates Gateway Park Apartments in Portland, Oregon (the “Project”); WHEREAS, the limited partner in the Partnership is Key Community Development Corporation, an Ohio corporation (the “Limited Partner”); WHEREAS, Home Forward desires to acquire the Limited Partner’s interests for a nominal fee (estimated to be $1.00); WHEREAS, upon the acquisition of the Limited Partner’s interests, Home Forward desires to take such steps as may be necessary to dissolve the Partnership and distribute its assets to Home Forward;


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WHEREAS, in order to acquire the Limited Partner’s interests, dissolve the Partnership, and distribute the Partnership assets to Home Forward it will be necessary for the Partnership and/or Home Forward to obtain the consent of Oregon Housing and Community Services (the “Allocating Agency”), and any other lienholders on the project (together the “Project Lenders”) and to execute such assignment and assumption agreements and other transfer documents as may be reasonably required by OHCS and the parties above; WHEREAS, Home Forward anticipates receiving Limited Partnership Purchase Agreement and Assignment and Assumption Agreement documents from Key Community Development Corporation outlining transfer conditions; and WHEREAS, ORS 456.135 authorizes Home Forward to delegate to one or more of its agents and employees such powers as it deems proper; NOW, THEREFORE, BE IT RESOLVED:

1. General Approval of Transfer of Partnership Interests. Home Forward hereby

approves the acquisition of the Limited Partner’s interests in the partnership and further approves taking such steps as may be reasonably required to then dissolve the Partnership and distribute its assets to Home Forward.

2. Approval of Partnership Documents. The documents as may be reasonably

required to effectuate the transfer of the Limited Partnership Interests to Home Forward are hereafter referred to as the “Partnership Documents”. The Chair of the Board, Home Forward’s Executive Director and their respective designees (each, an “Authorized Officer” and, together, the “Authorized Officers”), and each of them acting alone, are authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), the Partnership Documents; provided however, any Authorized Officer may approve on Home Forward’s behalf any further changes to the such documents including material changes, and such Authorized Officer’s signature on the final Partnership Documents shall be construed as Home Forward’s approval of such changes. The Authorized Officers (and each of them acting alone) are further authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), any other documents reasonably


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required to be executed by Home Forward or the Partnership to carry out the transactions contemplated by the Partnership Documents.

3. Approval of Transfer Documents. Home Forward anticipates that certain

assignment, assumption and consent documents will be required by the Project Lenders and the Allocating Agency pursuant to which Home Forward will agree to assume and be bound by the bond and loan documents and regulatory agreements and/or covenant affecting the Project (collectively the “Transfer Documents”). The Authorized Officers (and each of them acting alone) are authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), the Transfer Documents. The Authorized Officers (and each of them acting alone) are further authorized and directed to execute and deliver, on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership), any other documents reasonably required to be executed by Home Forward or the Partnership to carry out the transactions contemplated by the Transfer Documents.

4. Approval of Dissolution of the Partnership and Distribution of Assets. Home

Forward further authorizes the Authorized Officers (and each of them acting alone) to take such steps and to execute and deliver such documents as may be necessary to dissolve the Partnership and distribute the assets of the Partnership to Home Forward. Such documents may include but are not limited to a certificate of dissolution, such deeds, bills of sale and/or other assignments as may be required to distribute all Partnership assets to Home Forward and the filing of those tax returns as may be necessary to effectuate the transfer of Limited Partnership Interests, the dissolution of the Partnership assets and the distribution of such assets to Home Forward.

5. Ancillary Documents. The Authorized Officers (and each of them acting alone) are

authorized on behalf of Home Forward (acting on its own behalf or as general partner of the Partnership) to execute, deliver and/or file (or cause to be delivered and/or filed) any affidavits, certificates, letters, government forms, documents, agreements and instruments that any such Authorized Officer determines to be necessary or desirable: (i) to give effect to this resolution and/or (ii) to consummate the transactions contemplated herein.


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6. Expenditures. Home Forward is authorized to expend such funds (and to cause the Partnership to expend such funds from the operating reserve or any available reserves) as are necessary to pay for all filing fees, application fees, registration fees and other costs relating to the actions authorized by this resolution.

7. Acting Officers Authorized. Any action required by this resolution to be taken by the

Chair of the Board or Executive Director of Home Forward may, in the absence of such person, be taken by the duly authorized acting Chair of the Board or acting Executive Director of Home Forward, respectively.

8. Effective Date. This resolution shall be in full force and effect from and after its

adoption and approval. ADOPTED: NOVEMBER 21, 2017 Attest: Home Forward: Michael Buonocore, Secretary James M. Smith, Chair


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PUBLIC HEARING


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MEMORANDUM


From: Tim Collier, Director of Communications

503.802.8432


Subject: FY2018 Draft Moving to Work (MTW) Amendment

The purpose of this memo is to present Home Forward’s draft amendment to our FY2018 Moving to Work (MTW) Plan to the board of commissioners and to provide an opportunity for public comment on the draft amendment, which can be found on the Home Forward website at: http://www.homeforward.org/home-forward/moving-to-work. No board action is required at this time. ISSUE Home Forward’s designation as an MTW agency affords us regulatory relief in the administration of Section 8 and public housing funds so long as all activities that use MTW authority support at least one of three MTW objectives: (1) reduce costs and increase efficiencies, (2) increase housing choice for low-income families and, (3) provide incentives to families to become economically self-sufficient. The draft MTW amendment was posted on Home Forward’s website on October 18, 2017, and was published in the public notice section of the Oregonian on November 1, 8 and 15, 2017. Approval for the amendment will be requested at the December 19, 2017 Board of Commissioners meeting. Meanwhile, in compliance with the required amendment process for the Moving to Work Plan, Home Forward must hold a public hearing to solicit feedback on this proposal. AMENDMENT OF THE MOVING TO WORK PLAN Section D(7)(b) of Attachment C to the Amended and Restated Moving to Work agreement establishes that Home Forward “is authorized to establish a reasonable competitive process or utilize an existing local competitive process for project-basing leased housing


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assistance…” To ensure that the City of Portland Housing Bond project-based voucher assignments comply with this process, Home Forward has proposed to designate the voter-approved affordable housing general obligation bond ballot measures as a competitive process. This is an additional waiver of 24 CFR 983.51, which sets forth methods by which local public housing authorities must choose project-based voucher proposals.

In Oregon, local jurisdictions may issue general obligation bonds. These bonds are secured by tax levies and provide communities with access to debt at favorable interest rates. Unlike other states, however, the Oregon constitution has language that prohibits jurisdictions from raising money to aid parties other than the issuing jurisdiction. In other words, in the State of Oregon, jurisdictions may only use general obligation bonds for capital costs incurred and owned by the issuing jurisdiction.

Home Forward, as a Moving to Work agency, is granted the ability to support such local housing programs. This includes collaborating with local jurisdictions to provide affordable housing and services for low income and/or disabled households in our community. From time to time, local jurisdictions may issue general obligation bonds to acquire, develop and rehabilitate land and/or properties for affordable housing. Given that local jurisdictions may be the only owner of such housing when using general obligation bonds, for this specific financing situation, Home Forward is defining the ballot initiative as a competitive process. Ultimately, the local jurisdiction is competing for the use of vouchers and is seeking authorization from voters. If the voters elect to pass such a ballot measure, it is done so with the public’s knowledge that the sole owner of these properties must be the jurisdiction issuing the bonds. Home Forward will have permission to allocate project-based vouchers to such general obligation bond funded properties to ensure housing opportunities for very low- and extremely low-income families. Home Forward will measure the number of units made available to members of the community through utilization of this designation. Home Forward looks forward to soliciting public feedback on this proposed amendment.


30

RESOLUTIONS


31

MEMORANDUM


From: Michael Buonocore, Executive Director 503.802.8423


Subject: Authorize Organizational Values Resolution 17-11-05

The board of commissioners is requested to adopt a new set of organizational values, attached to this memo. Background A year ago, Home Forward embarked on a process to revisit our organizational values. Our existing values were created several years before the agency rebranded, and were no longer actively used as a filter for making decisions or defining our culture. In addition, the existing values are so vaguely worded, they provide very little guidance for how we will demonstrate or uphold them. Finally, as our strategic plan drives us to do more to advance equity and racial justice, taking the time to anchor that work in our values will allow it to grow deeper, more durable roots. Over the course of the past year, we have built this set of draft values through the following steps:

An all-agency staff meeting on the topic, followed by foundational conversations with the board of commissioners, the Resident Advisory Committee, individual department meetings and an electronic survey to the community through our e-letter, which includes partners, residents and other interested citizens.

A discussion about the first draft of the values with the board and agency directors at the March 2017 board retreat. A new draft was created based on this feedback


32

2

and presented to the full staff at a second all-agency meeting in April. Refinements were made and presented to the Resident Advisory Committee in the spring, and a final set of small edits were made in response to their input.

The long version of the draft values has been piloted as part of a new staff orientation, which includes an hour-long discussion with the executive director on this topic with all incoming employees.

At our October 4, 2017 work session, we reviewed the draft values with the board and made one final edit at the suggestion of Chair Smith, adding “veterans” to the list of populations for whom we express support. We have also worked to brand the values, and will have the newly designed versions to show you at the meeting.

A cross-organizational working group has been convened by Kitty Miller, Chief Administrative Officer, to begin planning for implementation strategies and outcome measurement.

We appreciate the board’s engagement and guidance in this process, and we look forward to moving the organizational values into the agency and the community.


33

3

RESOLUTION 17-11-05

RESOLUTION 17-11-05 AUTHORIZES ADOPTION OF HOME FORWARD’S ORGANIZATIONAL VALUES WHEREAS, Home Forward considers a strong set of organizational values to be a vital underpinning of an ethical and compassionate, mission-driven public agency; and

WHEREAS, Home Forward has spent over a year in conversation with staff, residents, community members and the Board of Commissioners to revisit our organizational values; and WHEREAS, the newly created organizational values reflect the existing strengths of Home Forward, as well as those towards which it is committed to striving; and WHEREAS, upon adoption by the Board of Commissioners, staff will work to publish and post the organizational values and begin using them in key decision-making processes, such as budgeting and strategic planning; and WHEREAS, staff will report annually and review with the Board of Commissioners indicators and outcomes related to the implementation of the organizational values. NOW, THEREFORE, BE IT RESOLVED, that the Board of Commissioners of Home Forward, hereby authorizes adoption of the Organizational Values as submitted by staff. ADOPTED: NOVEMBER 21, 2017 Attest: Home Forward: Michael Buonocore, Secretary James M. Smith, Chair


34

HOME FORWARD ORGANIZATIONAL VALUES – DRAFT

Housing is at the core of what we do and people are the reason it matters.

We show respect for the people we serve and each other through patience,

compassion and a belief that we’re all doing our best.

Our mission is to safely house thousands of families in our community. Our

job is to meet each person in front of us with our full attention and the best

of ourselves.

We’re a team of many teams, striving together for excellence.

We’re a group of staff and volunteers that loves working together, across

boundaries of roles, titles and departments. We take time to build

relationships and support each other, because we know that no one

succeeds alone in the work we do.

Our jurisdictions, nonprofits and funders are essential partners. We nurture

collaboration with them and strive for progress at a scale that can only be

made together.

We do our work in support of systemic change for racial and social justice.

People in poverty and communities of color face deep, systemic inequities.

Doing our part to improve these means we invest ongoing time and energy

to learn about them. As we build skills and knowledge, we are honest with

ourselves about how we participate in these injustices and we work to

correct them.

We use our voice to bring attention to these issues and their impact on our

community, and advocate for change at a broad scale.

We work to build and sustain an agency that reflects our diverse community

at all levels of Home Forward, especially at the highest positions of power

and influence.

The deepest impacts and most enduring change happen when systems that

affect our families – housing, education, health and mental health care,

criminal justice, workforce development and others – change in ways that

remove entrenched, institutionalized barriers to peoples’ success and well-

being. We work towards this kind of change.

The people who experience injustices and inequities have the wisdom to

bring about the change that is needed. We listen to them.

We are stewards of public resources and champions for those who need them.

The resources under our stewardship don’t belong to us, they belong to the

community. We have an obligation to make big decisions collaboratively

and transparently, to make public information available and easy to

understand, and to admit when we make mistakes.

Our housing is home to the people it serves, and we constantly work to

make sure it stays safe and welcoming for decades to come.

We serve those who are economically vulnerable, seniors, people with

disabilities, families, veterans, survivors of domestic violence, immigrants,

refugees, communities of color, the LGBTQ community, people who

experience mental health issues, people with experience of homelessness

and other traumas. We see their strength and resilience. We take seriously

our duty to protect their privacy, to support their stability and to stand with

them when they need allies.

We are brave and innovative.

We’re guided by an ambitious mission that demands we constantly adapt to

meet the needs of our community. Even when change is uncomfortable, we

have the courage to take smart risks and to evolve.

History teaches us we will always face short-term uncertainty, disruptions

and shifting politics. We plan strategically, for the long term, and position

ourselves for a future in which our mission is accomplished.


35

VALUES

Housing is at the core of what we do and people are the reason it matters.

Respect and Compassion

We’re a team of many teams, striving together for excellence.

Collaboration and Partnership

We do our work in support of systemic change for racial and social justice.

Equity and Justice

We are stewards of public resources and champions for those who need them.

Stewardship and Accountability

We are brave and innovative.

Courage and Ingenuity

MISSION

The mission of Home Forward is to assure that the people of the community are

sheltered. Home Forward has a special responsibility to those who encounter

barriers to housing because of income, disability or special need. Home Forward

will continue to promote, operate and develop affordable housing that engenders

stability, self-sufficiency, self-respect and pride in its residents and represents a

long-term community asset. Home Forward will be a community leader to create

public commitment, policy and funding to preserve and develop affordable housing.

STRATEGIC PLAN

one portfolio: Our real estate is stable for generations to come and meets

the needs of the people and neighborhoods it serves.

one resource: There are deeper connections and continuity between the

types of housing assistance we provide that allow us to meet the evolving needs of

the people we serve.

one agency: We build our skills and work together in ways that help us

constantly evolve and improve our ability to serve our community.

one community: The people we serve, our partners and the public see us as

open, supportive and responsive to their needs, even when our resources are

constrained.

one system: We leverage our role as the largest provider of affordable

housing in Oregon to improve collaboration and efficacy between systems

impacting people in poverty.

DRAFT


36

STAFF REPORTS


37

Procurement & Contracts DepartmentMONTHLY CONTRACT REPORT

Contracts Approved 9/1/17 - 10/31/17

PUBLIC IMPROVEMENT(CONSTRUCTION & MAINTENANCE SERVICES)

Contract # Amend # Contractor Contract Amount Description Dept. Execution Date Expiration Date

C1906 0 Ri-Ky Roofing $ 32,178.00 Roof replacement at Jean's Place FAAM 9/13/2017 11/30/2017

C1907 0 Ri-Ky Roofing $ 27,126.00 Roof replacement at Woodstock Court FAAM 9/13/2017 11/30/2017

C1905 0 Beery Elsner &Hammond LLP $ 10,000.00

Providing counsel on contract negotiationbetween Home Forward and Walsh

regarding Framework projectProcurement 9/14/2017 10/31/2017

C1903 0 Forest Landscape,Inc $ 10,866.94 Landscape finishing at Harold Lee Village

and curb installation DCR 9/26/2017 11/30/2017

Subtotal $ 80,170.94 4

GOODS & SERVICES


C1894 0ValleyScapes

LandscapeSolutions

$ 28,512.00 Landscaping at Stephen's Creek Crossing Prop Mgmt 9/7/2017 7/31/2018

C1901 0ValleyScapes

LandscapeSolutions

$ 21,948.00 Landscaping at Humboldt Gardens Prop Mgmt 9/7/2017 8/31/2018

C1910 0 NW Enforcement $ 2,250.00 Security Patrol Services at Maple Malloryand Celilo Court Prop Mgmt 9/11/2017 12/10/2017

C1916 0UniversalLawncare

Maintenance$ 10,000.00 Landscaping maintenance for our 21 master

leased properties FAAM 10/11/2017 1/31/2018

Subtotal $ 62,710.00 4

PERSONAL SERVICE CONTRACTS


C1878 0 JOIN $ 589,953.00 STRA Contract - C1900; to be amendedyearly

RentAssistance 9/5/2017 6/30/2018

C1886 0 SEI, Inc $ 1,195,168.00 STRA Contract - C1900; to be amendedyearly


C1878 0 JOIN $ 589,953.00 STRA Contract - C1900; to be amendedyearly


C1886 0 SEI, Inc $ 1,195,168.00 STRA Contract - C1900; to be amendedyearly


C1872 0 Central CityConcern $ 15,345.00 STRA Contract - C1900; to be amended

yearlyRent

Assistance 9/14/2017 6/30/2018


38

C1881 0 NARA $ 96,089.00 STRA Contract - C1900; to be amendedyearly


C1889 0 Volunteers ofAmerica $ 531,177.00 STRA Contract - C1900; to be amended

yearlyRent

Assistance 9/14/2017 6/30/2018

C1872 0 Central CityConcern $ 15,345.00 STRA Contract - C1900; to be amended

yearlyRent

Assistance 9/14/2017 6/30/2018

C1881 0 NARA $ 96,089.00 STRA Contract - C1900; to be amendedyearly


C1889 0 Volunteers ofAmerica $ 531,177.00 STRA Contract - C1900; to be amended

yearlyRent

Assistance 9/14/2017 6/30/2018

C1876 0

ImmigrantRefugee

CommunityOrganization

(IRCO)

$ 726,262.00 STRA Contract - C1900; to be amendedyearly


C1876 0

ImmigrantRefugee

CommunityOrganization

(IRCO)

$ 726,262.00 STRA Contract - C1900; to be amendedyearly


C1911 0 Nancy DavisConsulting $ 12,000.00 Design & adopt Home Forward's new

service delivery model Executive 9/27/2017 12/31/2018

C1913 0 MercuryPDX $ 500.00 Mail Service for NMW Executive 9/27/2017 10/31/2017

C1891 0CommunityAlliance of

Tenants (CAT)$ 43,260.00 Tenant education program for recipients of

the housing choice voucher programRent

Assistance 9/29/2017 3/31/2018

C1914 0 Cascade RadonInc. $ 1,043.00 Radon testing in 15 units at Alderwood DCR 10/6/2017 12/31/2017

C1915 0 Cascade RadonInc. $ 693.00 Radon testing at Harold Lee Village DCR 10/6/2017 12/31/2017

C1912 0 Nancy Hochman $ 95,000.00 Hearings Officer for Home Forward RentAssistance 10/11/2017 9/30/2019

Subtotal $ 6,460,484.00 18

PROFESSIONAL SERVICE CONTRACTS (A&E)


Total $ - 0

AMENDMENTS TO EXISTING CONTRACTS


C1809 1UniversalLawncare

Maintenance$ 25,000.00

Amended to add lawncare services atproperties: Floresta, Townhouse Terrace,

Demar Downs, Harold Lee Village,Powellhurst Woods, Hunters Run

Prop Mgmt 9/7/2017 3/31/2018

C1842 1 SimplexGrinnel $ -Extending completion date for the

installation of new fire alarm control panel atNMW

IFSS 9/11/2017 11/30/2017


39

C1657 1 Macias Gini &O'Connell LLP $ 21,000.00 Audit of Financial Statements and REAC

submission FAAM 9/18/2017 9/30/2017

C1676 1 InnovativeChanges $ - Security Deposit Loan Program for HCV

householdsRent

Assistance 9/18/2017 6/30/2018

C1749 2North Pacific

Construction &Remodeling, Inc.

$ 13,749.00 Additions to Harold Lee Village bldg #4025 DCR 9/18/2017 10/1/2017

C1733 1 Architectural CostConsultants, LLC $ - Construction Cost Estimating Services,

Grand Avenue; amended to extend contract DCR 9/19/2017 12/31/2017

C1650 5 LMC, Inc. $ 214,666.76Construction changes; buy back

supplemental scope to upgrade existingplayground at Gladstone

DCR 9/20/2017 12/22/2017

C1650 5 LMC, Inc. $ 214,666.76Construction changes; buy back

supplemental scope to upgrade existingplayground at Gladstone

DCR 9/20/2017 12/22/2017

C1840 1 RichArt Family,Inc. $ 309,469.50 Emergency repairs at Fairview Woods,

adding to scope and amending time DCR 9/20/2017 2/2/2019

C1840 1 RichArt Family,Inc. $ 309,469.50 Emergency repairs at Fairview Woods,

adding to scope and amending time DCR 9/20/2017 2/2/2018

C1738 1 KPFF, Inc $ 4,000.00WPCF permit for all Home Forward's UICs;amended scope- additional civil engineering

servicesDCR 9/21/2017 12/31/2017

C1838 2 Novogradac &Company $ 2,000.00

To analyze and implement an alternativemethodology for meeting the 50% test at

Woods East LPDCR 9/21/2017 12/31/2017

C1839 2 Novogradac &Company $ 2,000.00

To analyze and implement an alternativemethodology for meeting the 50% test at

Wests LPDCR 9/21/2017 12/31/2017

C1631 1 TransitionProjects, Inc. $ 70,000.00

Resident Services at Peter PaulsonApartments, Gretchen Kafoury Apartmentsand St. Francis Apartments; Amended to

extend time and money

CommunityServices 9/27/2017 12/31/2018

C1749 3North Pacific

Construction &Remodeling, Inc.

$ 39,776.77 Additions to Harold Lee Village bldg #4027 DCR 9/27/2017 10/1/2017

C1579 3Alternative

CommunicationsServices

$ -IT I-Net Connection between Buildings for

the Agency. Resolution 15-05-02 not toexceed $375,000

IT 10/3/2017 8/31/2018

C1732 2 Hahn &Associates, Inc. $ 5,600.00

Phase I Environmental Site Assessment,Grand Avenue; Amended to include soil

sampling and clean fill dermination testingDCR 10/4/2017 6/30/2018

C1766 2 Robert HalfInternational $ 25,000.00

Recruitment services for Senior FinancialAnalyst position; Amended to extend

durationDBS-HR 10/18/2017 4/15/2018

C1783 1 Pacific PaintNorthwest $ 16,000.00 On-call painting services at HF-managed

properties Prop Mgmt 10/18/2017 11/28/2017

C1709 2 John Keating $ 10,000.00 Grant writing, consultation and funddevelopment at $85/hr


C1773 2 Megan Ashlock $ -Harvest Share program coordinatormanaging the New Columbia Youth

Empowerment Program (YEP)


Subtotal $ 1,282,398.29 21


40

Other Agreements (3rd Party contracts, MOU's, IGA's)


T1478 1 Peter MeijerArchitect, P.C. $ -

On Call Building Envelope ConsultingServices, RFP 07/14/254; Amended to

extend duration of contractDCR 9/7/2017 9/30/2019

T1479 2 WJE Engineering& Architects, P.C. $ -



T1477 2 RDH BuildingSciences, Inc. $ -

On Call Building Envelope ConsultingServices, RFP 07/14/254. Amended to


T1480 3 Forensic BuildingConsultants $ -



Subtotal $ - 4

Total $ 7,885,763.23 51


41

HOUSEHOLDS SERVED REPORT


42

Public Housing Units Occupied *2,068 14%

Affordable Housing Units Occupied -HUD Multi-Family Project Based

Subsidized ^264 2%

Affordable Housing Units Occupied -Unassisted

1,850 12%

Special Needs Units (Master Leased) **269 2%

Special Needs Shelter Beds (Master Leased)

236 1%

Households Receiving Rent Assistance and Occupying Affordable Housing Units

1,599 11%

Households Occupying Affordable Unit/Receiving Shelter Plus Care

73 0%

Households Receiving Rent Assistance Only 7,534 51%

Households Receiving Short Term Rent Assistance Only

999 7%

Total Households Served: Rent Assistance and Occupied Housing Units October 2017

^ Consists of Grace Peck Terrace, Multnomah Manor, Plaza Townhomes, Rosenbaum Plaza, Unthank Plaza

Total Households Served 14,892

** Special Needs are physical units as occupancy levels that are not reported to Home Forward by service providers master leasing these properties.

* Includes Local Blended Subsidy

^^ Total Short Term Rent Assistance less the Households Occupying Affordable Units/Receiving Shelter Plus Care


43

Rent Assistance Vouchers - Home Forward Funded 9,133 7,626 1,507 Tenant Based Vouchers 01 - 5,591 5,591 Project Based Vouchers 02 - 1,382 1,382 Hi Rise Project Based Vouchers 653 653 Single Room Occupancy (SRO)/MODS 03 - 494 494 Family Unification Program 84 84 Veterans Affairs Supportive Housing (VASH) 04 - 512 512 Rent Assistance - PORT IN From Other Jurisdiction 06 - 417 417

Short Term Rent Assistance Programs 1,072 87 985 Shelter + Care 05 - 453 453 Locally Funded Short Term Rent Assistance 532 532 Earl Boyles 16 16 MIF Funded Short Term Rent Assistance 33 33 Alder School 27 27 New Doors 5 5 Employment Opportunity Program 6 6 Work Systems Inc. - Agency Based Rent Assistance 11 - -

Total Rent Assistance 10,205 7,713 2,492

Public Housing Units Occupied 2,068 2,068 - Traditional Public Housing units Occupied ### 1,292 1,292 Public Housing units Occupied - Local Blended Subsidy 13 168 168 Public Housing units Occupied - in Owned Affordable 14 - 62 62 Public Housing units Occupied - in Tax Credit Affordable 15 - 546 546

Affordable Housing Units Occupied (excluding PH subsidized) 3,786 3,786 Affordable Housing Units - Tenant Based Vouchers 16 519 519 Affordable Housing Units - Shelter + Care 17 73 73 Affordable Housing Units - Project Based Vouchers 18 273 273 Affordable Housing Units - Hi Rise Project Based Vouchers 653 653

^ Affordable Housing Units - HUD Multi-Family Project Based 19 264 264 Affordable Housing Units - VASH Vouchers 20 122 122 Affordable Housing Units - Family Unification Program 21 6 6 Affordable Housing Units - Section 8 Port In 22 26 26 Affordable Housing Units - Unassisted 23 1,850 1,850

Special Needs 505 505 Special Needs Units (Master Leased) ** 269 269 Special Needs Shelter Beds (Master Leased) 236 236

Total Households Occupying Housing Units 6,359 2,068 4,291

Total Housing Supports Provided to Household 16,564 9,781 6,783 Household Occupying Affordable Unit/Receiving Home Forward Rent Assistance (1,599) (1,599) Households Occupying Affordable Unit/Receiving Shelter Plus Care (73) (73) Total Households Served 14,892 9,781 5,111

Notes:^

Consists of Grace Peck Terrace, Multnomah Manor, Plaza Townhomes, Rosenbaum Plaza, Unthank Plaza** Special Needs are physical units as occupancy levels that are not reported to Home Forward by service providers master leasing these properties.

Households ServedHouseholds Served Through Housing Supports October 2017

Rent Assistance

Subsidized Housing Units

Moving to Work Programs

All Programs Non-MTW Programs


44

DASHBOARD REPORT


45

Home Forward - Dashboard Report For October of 2017

Property Performance Measures

1 40 40 1 0 15 15 10 0 0 40Occupancy

Number of Physical Rentable Vacant OccupancyProperties Units Units Units Percentage Studio/SRO 1 Bdrm 2 Bdrm 3 Bdrm 4 Bdrm 5+ Bdrm Total

Public Housing 34 1,355 1,345 20 98.5% 77 667 342 259 10 0 1,355Public Housing Mixed Financed Owned * 2 65 65 3 100.0% 0 15 40 10 0 0 65Public Housing Mixed Finance Tax Credit * 10 681 681 10 98.5% 385 93 89 62 45 7 681

Total Public Housing 46 2,101 2,091 33 98.4% 462 775 471 331 55 7 2,101Affordable Owned with PBA subsidy 4 281 281 2 99.3% 72 191 12 6 0 0 281Affordable Owned without PBA subsidy 20 2078 2,078 35 98.3% 794 525 565 164 30 0 2,078

Total Affordable Owned Housing 24 2,359 2,359 37 98.4% 812 596 386 280 134 17 2,359Tax Credit Partnerships 17 2,225 2,225 28 98.7% 812 596 386 280 134 17 2,225

Total Affordable Housing 41 4,584 4,584 65 98.6% 1,624 1,192 772 560 268 34 4,584Eliminate Duplicated PH Properties/Units -12 -746 -746 -13 -385 -108 -129 -72 -45 -7 -746

Combined Total PH and AH 75 5,939 5,929 85 98.6% 1,701 1,859 1,114 819 278 34 5,939Special Needs (Master Leased) 32 269 269Special Needs (Shelter Beds) 2 236 236

Total with Special Needs 109 6,444 6434* property/unit counts also included in Affordable Housing Count

Financial 09/30/17Three months ending 9/30/2017

Public Housing 32 1,328 2 27Affordable Owned 22 2,289 2 70 17 2 5Tax Credit Partnerships 17 2,225 0 0 11 0 6

Public Housing Demographics

# of % of Average Average Unit Adults no Family with Elderly DisabledPublic Housing Residents

0 to 10% MFI 461 22.7% 2.1 1.8 11.8% 10.9% 0.5% 7.9% 7.1% 10.0% 1.1% 0.4% 0.3% 3.8%11 to 20% 806 39.7% 1.8 1.5 29.6% 10.1% 9.8% 20.3% 11.4% 20.7% 1.6% 1.3% 0.5% 4.2%21 to 30% 388 19.1% 2.2 1.7 12.0% 7.1% 6.2% 5.7% 4.9% 10.3% 0.6% 0.9% 0.4% 2.0%51 to 80% 74 3.6% 3.2 2.4 1.3% 2.4% 0.3% 0.4% 1.2% 1.0% 0.1% 0.2% 0.0% 1.1%Over 80% 17 0.8% 2.7 2.1 0.4% 0.4% 0.0% 0.1% 0.2% 0.3% 0.0% 0.0% 0.0% 0.3%All 2,030 100.0% 2.1 1.7 61.2% 38.8% 19.8% 37.9% 29.0% 47.9% 3.9% 3.4% 1.5% 14.3%

Waiting List0 to 10% MFI 6,472 37.8% 1.9 1.4 1.7% 13.0% 11.9% 18.1% 1.8% 0.9% 0.5% 3.5% 1.0%11 to 20% 4,750 27.8% 2.1 1.4 3.2% 13.4% 8.4% 13.8% 1.2% 1.1% 0.4% 2.3% 0.5%21 to 30% 2,900 16.9% 2.3 1.4 2.5% 5.8% 4.8% 8.4% 0.7% 0.8% 0.2% 1.8% 0.3%31 to 50% 2,292 13.4% 2.5 1.4 1.6% 2.9% 3.8% 6.2% 0.4% 0.7% 0.2% 1.7% 0.3%51 to 80% 536 3.1% 2.6 1.4 0.3% 0.5% 1.0% 1.4% 0.1% 0.2% 0.1% 0.3% 0.1%Over 80% 163 1.0% 2.5 1.4 0.1% 0.2% 0.4% 0.3% 0.0% 0.1% 0.0% 0.1% 0.0%All 17,113 100.0% 2.1 1.4 9.3% 35.8% 30.3% 48.2% 4.3% 3.7% 1.5% 9.8% 2.2%

* Race and enthnicity are not required fields on the Waitlist Application in YardiOther Activity

#'s,days,hrsPublic Housing

Names pulled from Wait List 160Denials 4New rentals 22Vacates 91Evictions 2# of work orders received 1,531# of work orders completed 1,069Average days to respond 10.9# of work orders emergency 6Average response hrs (emergency) 33

Rent Assistance Performance Measures

Utilization and Activity

Average HUD Subsidy Remaining Waiting List Voucher Average HUD SubsidyVouchers Vouchers Utilization Voucher Over(Under) Waiting List Names New Vouchers Vouchers Inspections Utilization Voucher Over(Under) New Vouchers Vouchers

Tenant Based Vouchers 6,938 6,517 94% $744 -$232,349 0 0 16 23 459 93% $719 $501,837 287 439Project Based Vouchers 2,105 2,035 97% $843 $184,632 14 18 106 97% $821 $2,816,685 289 230SRO/Mod Vouchers 512 494 96% $458 13 14 113 97% $449 $70,776 100 104

All Vouchers 9,555 9,046 95% $751 -$47,717 43 55 678 94% $729 $3,389,298 676 773

Current Month ActivityCurrent Month Status

# of Properties DCR Not

Applicable

Calendar Year To Date

# of Properties not meeting DCR

Asian

Race % (head of household)

Unit Mix

# of Properties/units Positive Net Operating Income (NOI)

Black African American

WhiteNative

AmericanHispanic/ Latino

Hawaiian/ Pacific Islnd

Fiscal YTD ending 9/30/2017# of

Properties meeting Debt

Coverage

# of Properties/units Negative Net Operating Income (NOI)

% Family Type (head of household)Households

1Home Forward Board of Commissioners November 2017

46


Demographics

Tenant Based Voucher Participants # of Households % of HouseholdsAverage

Family Size Average Unit SizeAdults no Children Family with Children Elderly

Disabled Not Elderly

Black White Native Asian Hawaiian/ Hispanic

0 to 10% MFI 1,064 16.8% 2.1 1.9 8.8% 8.0% 0.8% 4.4% 6.5% 8.0% 0.6% 0.4% 0.1% 1.2%11 to 20% 2,397 37.8% 1.9 1.9 27.2% 10.6% 12.5% 15.7% 12.4% 19.2% 1.1% 2.9% 0.1% 2.1%21 to 30% 1,509 23.8% 2.3 2.0 14.8% 9.0% 8.3% 8.0% 7.5% 13.0% 0.6% 1.3% 0.2% 1.2%31 to 50% 1,128 17.8% 2.7 2.3 7.6% 10.2% 3.9% 4.5% 7.3% 8.0% 0.2% 0.9% 0.2% 1.2%51 to 80% 224 3.5% 3.1 2.7 1.1% 2.4% 0.3% 0.3% 1.9% 1.2% 0.1% 0.1% 0.0% 0.2%Over 80% 11 0.2% 3.2 2.6 0.1% 0.1% 0.0% 0.0% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0%All 6,333 100.0% 2.2 2.0 59.6% 40.4% 25.7% 33.0% 35.7% 49.3% 2.6% 5.6% 0.7% 6.0%

Project Based Voucher Participants # of Households % of HouseholdsAverage

Family Size Average Unit SizeAdults no Children Family with Children Elderly

Disabled Not Elderly

Black White Native Asian Hawaiian/ Hispanic

0 to 10% MFI 469 23.1% 1.5 1.3 16.9% 6.2% 1.5% 9.3% 4.2% 14.7% 0.9% 0.6% 0.2% 2.4%11 to 20% 818 40.3% 1.6 1.3 34.7% 5.6% 13.6% 19.7% 7.9% 26.6% 1.2% 1.2% 0.2% 3.1%21 to 30% 469 23.1% 1.8 1.4 18.4% 4.7% 10.8% 7.5% 3.9% 16.5% 0.6% 0.5% 0.2% 1.5%31 to 50% 247 12.2% 2.4 1.8 7.2% 5.0% 3.6% 2.6% 2.8% 7.2% 0.4% 0.3% 0.1% 1.4%51 to 80% 27 1.3% 3.4 2.6 0.5% 0.8% 0.2% 0.1% 0.4% 0.6% 0.0% 0.0% 0.0% 0.2%Over 80% 2 0.1% 5.0 3.0 0.0% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%All 2,032 100.0% 1.8 1.4 77.7% 22.3% 29.8% 39.2% 19.3% 65.6% 3.1% 2.7% 0.7% 8.6%

Waiting List Not Reported0 to 10% MFI 1 100.0% 2.0 0.0% 0.0% 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%11 to 20% 140 26.4% 2.5 1.9% 8.1% 8.8% 12.2% 1.2% 0.8% 0.2% 2.4% 0.8%21 to 30% 70 13.2% 2.6 2.4% 2.8% 3.5% 7.1% 0.2% 0.6% 0.0% 1.3% 0.6%31 to 50% 55 10.4% 2.7 0.9% 1.5% 3.5% 4.7% 0.3% 0.5% 0.6% 0.8% 0.0%51 to 80% 13 2.4% 3.0 0.2% 0.2% 1.2% 0.9% 0.0% 0.0% 0.0% 0.3% 0.0%Over 80% 8 1.5% 2.4 0.2% 0.4% 0.2% 0.9% 0.0% 0.2% 0.0% 0.2% 0.0%All 287 153.9% 2.6 5.6% 13.0% 117.1% 25.9% 1.7% 2.1% 0.8% 5.0% 1.3%

Short Term Rent Assistance

Shelter Plus Care 453 $365,308 806Short Term Rent Assistance 619 $565,893 914

Resident Services

Resident ProgramsHouseholds

Served/Participants

Congregate Housing Services Public Housing 124 $82,404 $665* as of previous month

# HH Eviction Prevention

Health and Safety Stabilized

Unduplicated Number Served

Resident Services Coordination Public Housing

# Interventions regarding lease violations

# of appointments assisting residents to connect and utilize community resources # Events # Event Attendees

225 1297 283 6622

Three months ending 6/30/2017 Public Housing 158 $327,168 1 3 $6,866 4 $0 $1,191Three months ending 6/30/2017 Section 8 141 $269,957 3 0 $1,483 0 $0 $2,017

Escrow $ Forfeited

Households Race % (head of household)

Avg Annual Earned Income Increase Over

Last Year

% Family Type (head of household)

Housing Program ServedAverage Funds per

Participant

Monthly Funding Amount

NewEnrollees

Average Cost per Household

# of Households Participating$ Amount of

Assistance Provided

Households % Family Type (head of household) Race % (head of household)

Terminations or Exits

Escrow $ Disbursed# of ParticipantsEscrow $

Held# of

Graduates


45


Agency Financial Summary

Six months ending 06/30/17

7702623.21 42758404.82 39159856.85Subsidy Revenue $8,094,637 $26,256,015 $21,593,512 $4,662,503Grant Revenue $13,226,957 $5,889,958 $3,957,276 $1,932,681Property Related Income $1,776,279 $5,281,124 $4,563,112 $718,012Development Fee Revenue $9,950,574 $0 $2,692,828 ($2,692,828)Other Revenue $1,979,166 $2,173,067 $1,791,012 $382,055

Total Revenue $1,482,238 $39,600,164 $34,597,740 $5,002,424

Housing Assistance Payments $0 $25,565,861 $20,245,533 $5,320,328Operating Expense $436,858 $11,473,816 $10,722,883 $750,932Depreciation $13,866,390 $2,122,362 $2,237,345 ($114,982)

Total Expense $7,576,475 $39,162,039 $33,205,761 $5,956,278Operating Income $3,739,390 $438,125 $1,391,979 ($953,854)

Other Income(Expense) $704,570 -$532,787 -$73,450 ($459,337)Capital Contributions $12,020,436 $580,558 $366,188 $214,369

Increase(Decrease) Net Assets $1,845,954 $390,355 $1,099,241 ($708,886)Total Assets -$226,813 $448,147,292 $421,005,477 $27,141,815Liquidity Reserves $111,186 $23,207,791 $22,569,896 $3,583,646

Development/Community Revitalization

New Development / Revitalization Construction Construction Current Total Cost PerUnits Start End Phase Cost Unit

St. Francis Park 106 Mar-16 Aug-17 Construction $23,250,483 $219,344Square Manor Gladstone Square 48 Mar-17 Jan-18 Construction $11,191,518 $233,157 Multnomah Manor 54 Aug-17 Jan-18 Construction $8,949,559 $168,860NE Grand 240 Oct-17 Oct-20 Pre-Construction $69,248,377 $288,535

Capital ImprovementHarold Lee Comprehensive Rehab N/A May-16 Sep-17 Construction $1,800,000 N/AFairview Oaks Comprehensive Rehab N/A Aug-15 Sep-17 Construction $5,100,000 N/AFairview Woods Recladding N/A Jun-17 Jul-18 Construction $3,900,000 N/A

Prior YTDIncrease

(Decrease)Month

Fiscal Year to Date


46