BUILDING STABLE HOMES, STRONG FUTURES, AND VIBRANT COMMUNITIES SINCE 1971

S P R I N G E D I T I O N

OUR MISSION... OUR STORIES

A YEAR OF PRESERVATION DEIDRE SCHMIDTA Note From the President

SPRING 2016

Until the mid-1980s, the federal government focused on providing project-based rental subsidies as a primary means to finance the development of affordable housing. The response to this resource was positive, and the number of affordable housing units expanded greatly. However, with fewer financial resources available to meet the need, the nation now has a large cohort of 30- to 40-year-old properties that require an immediate infusion of capital for repair and rehab. Preserving existing affordable units through reinvestment and repair is critical not only to residents, but also to the communities in which they are located. Using available financial resources wisely is even more essential than ever.

CommonBond Communities kicked off 2016 with the start of the final of three major preservation efforts that began in

in 2015. When complete, a total of 1,200 affordable apartments serving families and seniors in three Minneapolis and St. Paul neighborhoods will have undergone extensive rehabilitation, including major improvements to building systems, structures, exteriors, and individual housing units. 

Maintaining the quality of our properties demonstrates exceptional stewardship because it conserves both financial and environmental resources. By reinvesting in our properties, our housing remains a good neighbor in the community and continues to provide dignified, high-quality homes, all while maintaining affordability for our residents. CommonBond sees it as a vital investment in the health of the Twin Cities housing market.

Nearing Completion Cathedral Hill Homes is located in the Historic Hill Preservation District in St. Paul. Preservation work includes updating unit interiors and appliances, replacing furnaces and windows, repairing roofing, and exterior masonry. All work on the buildings’ exteriors was done in accordance with policies to maintain its historic character.

UnderwaySkyline Tower is the largest single HUD-subsidized building in Minnesota. Along with funding partners, the Minnesota Housing Finance Agency and the City of St. Paul, CommonBond is investing nearly $25,000 per unit to replace worn out vertical and horizontal plumbing stacks and windows.

Starting Soon Between the East and West buildings, 640 households call Seward Towers home. Constructed in 1969 and 1971, respectively, aging systems and interiors will be repaired or replaced. This includes windows, plumbing stacks, cabinetry, flooring, tuckpointing, and interior finishes. Construction is set to begin in early 2016.

In January, CommonBond closed on its largest housing transaction to date. I am thrilled to preserve much needed apartments with rent subsidies for the Seward Towers’ residents in Minneapolis. This is a critical investment in the health of the Twin Cities housing market. Losing subsidized units to physical deterioration or conversion to market rate housing has had a profound impact on low income individuals and families nationwide.

In this issue you can learn how CommonBond staff ensured we put residents first in the preservation process, as well as more detailed information about the work taking place. The complexity of the construction effort is matched by the complexity of the financial structure. With the addition of the Seward Towers, we have a total of 1,200 units undergoing significant improvements simultaneously. Negotiating these transactions was time

consuming and maintaining these relationships will require care. And unlike many low income properties, the quality construction CommonBond’s housing communities offer are embraced by surrounding communities. I look forward to sharing more stories with you about the impact of these important projects. I hope to see you at the GrandeGala.

BE THE STAR!Save the Date for Our Annual GrandeGalaWhen: Friday, April 1, 2016Where: Hilton Minneapolis 1001 S Marquette Avenue Minneapolis, MN 55403Visit www.commonbond.org to reserve your tickets

The following preservation projects are underway:

GILLIGAN FAMILY FOUNDATIONPassing the Tradition of Giving to the Next Generation

The creation of the Gilligan Family Foundation fulfilled the couple’s desire to give back.

The next generation has stayed true to the values of their parents by continuing their parents’ legacy and remarkable generosity. They have supported CommonBond faithfully for the last 25 years. Peggy Gilligan, trustee for the family foundation, said “we truly believe in CommonBond and we continue to commit our family’s resources to their mission. The Foundation has always been guided by our family’s values of social justice, and we will continue the tradition of giving that was passed on to us from our parents.”

CommonBond is extremely thankful to the Gilligan Family Foundation for their partnership through the years.

Peter and Dorothea Gilligan both hail originally from Chicago, Illinois. It was Peter’s job as an accountant for Arthur Andersen that brought them to Minneapolis, where they put down deep roots. Married for sixty three years while raising ten children, throughout their lifetime, Peter and Dorothea were very active in Catholic social ministries and caring for those less fortunate.

CommonBond kept this in mind working with each individual family at Cathedral Hill during the renovation process. Even though it was a part of a larger project, it involved real people and impacted their daily schedule.

When asked about how things went for her family with the renovation, one resident answered “The first word that comes to my mind is grateful. The new flooring will be so easy to keep clean. It feels like the renovation was a minor inconvenience compared to how great our place looks. Everything looks so beautiful.”

MINIMIZING DISRUPTIONPutting Residents First

Maintaining resident stability during the construction process is our number one priority. CommonBond strives to make the required relocation of our residents as painless as possible with minimal disruptions to their work, school, and home lives.

One way CommonBond worked to make this process as smooth as possible was to partner with ProSource Technologies, a

FEELING GRATEFULNewly Renovated Space at Cathedral

nationally renowned relocation consultant, to take the lead on the relocation logistics to ensure that a viable plan was in place for each temporary displacement. Communication with the residents was initiated almost a year before construction began. Community meetings were held to discuss the proposed scope of the project and the required relocation. Translators were available to accommodate languages spoken by the residents. As a result of those meetings, CommonBond was able to receive feedback from the residents and incorporate their ideas into the relocation plan.

Fortunately, the general contractor for both Seward Towers East and West and Skyline Tower, Frerichs Construction, specializes in “in-place” rehab projects and can minimize the number of residents who need to be relocated. Those who are not relocated have a functional place to return home each evening. Once construction is complete, residents move back in to their newly remodeled apartments.

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Originally built in 1904, CommonBond’s Cathedral Hill Homes serves more than 150 residents -- 67 of them children. Most people have an emotional connection to their home, and as anyone who has undergone a home renovation can attest, it can be stressful.

OUR MISSION... OUR STORIES

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PRESIDENT’S CIRCLEDonors who gave a gift of $1,000 or more in 2015

Ellen Higgins and John BrowerBrad and Sandra HoffeltJill and Mike HornerKathryn Hubbard Rominski and Daniel RominskiLori and Ron HumeTony Huot Jr.Jason and Janelle IanfollaKaren Janisch and Dan TschidaBob and Jacqueline JasperJack and Kay JasperTom and Jenny JasperMary L. JenkinsAnne Johnson and Stephen BefortScott and Marjorie JohnsonThomas JohnsonThomas Joyce and Annette AtkinsPaul J. JungquistJanet KaneLisa KaneMichael KaneMorton and Merle KaneKurt and Kathy KeenaKathleen Kelley and Charles SchafferSarah E. Kline-StensvoldAllyson and Peter KnudsenJohn KnudsenJeff and Erin KoerselmanJim and Sheri KumpGeorge and Carol LangPeter Berrie and Robin LangevinMark and Karen LarsonChris and Lisa LathamLaurence and Jean LeJeuneJames Lockhart and Janie MayeronDaniel and Karla LoftusRobert and Shelley LynchBridget Manahan and Joe AlexanderMark I. Manbeck and Dr. Drew E. SpencerPaul Markwardt and Richard AllendorfTeresa and Mike MarshallHugh McElroyRichard and Joyce McFarlandTom and Toni McGlynnThomas and Susan McGuireGreg and Barb MelsenThomas and Danalee MerrillBob and Mary MerskySteve MeyerDavid MichaelDouglas and Martha MillerGail MilsteinKevin Myren and Jason BestCharles Nauen and P.J. PofahlMarilyn Peller NelsonBrian NoreliusCharles and Karilyn Norton

Ben and Sandi AeiltsRozalyn and William AllysonDenise AndersonBarry and Sandy BainesBrian BarthBob BeltzMary and Bryan BennettJohn and Nancy BergJohn and Ruth BergersonNoah BlyPeter and Ellen BrownSheila and Bill BrownEd and Judy CannonScott CarlsonJulie and Christopher CauseyBruce and Ann ChristensenDrs. Sue Chung and Scott CooperBert and Suzie ColianniJanet Conn and Michael DebelakBill and Maureen CosgriffMary and Andrew CoulterJeff and Michele DeYoungVicki and Bruce Duncomb Todd and Angela EatmonJoe and Georgiann ErrigoPaul and Ann FateRob and Lori FendlerWade and Claudia FennRobin Ann Williams and Paul FiliatraultKevin Filter and Rosemary KesslerRobert and Jocelyn FindorffBill and Lisa FinleyDan and Kathy FlicekKim Foley and Kent JohnsonBruce FranckDavid and Sandra FrauenshuhJames and Mary FreyDebora and Mike FrodlMary Noble Garcia and John GarciaAlan Geiwitz and Mary McMahonAlan and Audrey GerhardtAl Giesen and Eileen O’ByrneMary and Steven GoldsteinBrian Gorecki and Cristine AlmeidaJohn GrossMary and Tim GrupaAndrew HagenJessie Hendel and John HaggertyJerome* and Carol HalloranKyle and Shelley HansenLeigh and Jennifer HanthoMichele Harris and Peter TangheEarl HattenThomas and Kristina HauschildJeremy and Tricia HedbergDarwin Hendel and Bonnie GrayGeorge and Mary Dee Hicks

Amanda and Christian NovakKevin and Sandra O’BrienEduardo and Susanne PadillaTom and Anne PeacockRita PellerPatricia PerellSue and Greg PerkeyAnne and Curtis PetersenMichelle and Bill PohladKatherine and Bill PrendergastMark and Karen RauenhorstDonald B. and Jean ReganCarleen K. RhodesJohn and Cathy RiesJeremiah RiopelPatricia RonningAnn Ruff and John CooperMary J. RuffTony and Ann SatterthwaiteKevin ScheelWayne and Deb SchiferlDeidre Schmidt and Dean CrowellDana and Ellen SchnobrichMark J. ScholtesJohn and Carol SchwabMargaret SimmonsRonald Smith and Diane AvesMr. and Mrs. Donald SpiekerPeter SpokesWarren and Mary Lynn StaleyTed and Amy StarkBen and Mary StephensDonna StevermerArlene Strom-KesselBeth and Timothy SullivanPaul SweenSara Jean ThomsMary Tingerthal and Conrad SoderholmJudith and Daniel TitcombDonald and Dolores TraxlerJames and Rita UrbanekRajan and Sunayana VatasseryKaren ViskochilTom Von Sternberg and Eve Parker Von SternbergJack and Yolanda WagnerHerb and Lori WardRyan WarnerKristi WebbWilliam and Ann Hart WernzRichard and Debra WickaLisa Wilcox-Erhardt and Steve ErhardtMr. A.L. Tony Winczewski, Jr.Yvette and Jamie WoellKathy and Steve WoodleySteve Youngs10 Anonymous Donors