continuum of housing report release and campaign kickoff
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An Affordable Continuum of Housing… Key to a Better City Coalition for Nonprofit Housing & Economic Development (CNHED) July 15, 2010. Continuum of Housing Report Release and Campaign Kickoff. What’s in the Paper. Chapter I Our City, Neighborhoods and the Housing Continuum - PowerPoint PPT PresentationTRANSCRIPT
An Affordable Continuum of Housing…Key to a Better City
Coalition for Nonprofit Housing & Economic Development (CNHED)July 15, 2010
Continuum of Housing Report Release and Campaign Kickoff
What’s in the Paper Chapter I Our City, Neighborhoods and the Housing Continuum
Chapter II Affordable Housing and Housing Cost Burden
Chapter III Housing Types in the District’s Housing Continuum
Chapter IV Neighborhoods of Opportunity – Three Profiles- Columbia Heights- Congress Heights- Ivy City
Chapter V Policy Framework and Recommendations
Public Policy Framework
The Recommendations (Chapter V) are set in an overall public policy framework for: - allocation of program resources - improvement of operations
The Framework is built on three strategically linked components: - creating Neighborhoods of Opportunity - developing and Sustaining the Continuum of Affordable Housing - engaging the Network of Public and Private Resource Partners
Neighborhoods of Opportunity
District’s Comprehensive Plan – Critical Neighborhood Housing Issues:
• Ensuring housing affordability• Fostering housing production• Conserving existing housing stock• Promoting home ownership• Housing for residents with special needs
Defining the Housing Continuum
Two Key Variables:
• Household Income
• Housing Type
Figure 1. Continuum of Household Income Groups
Housing Types Related to Household Income
3 Primary Types
• Supportive Rental Housing (with essential resident supportive services)
• Rental Housing (without supportive services)
• Homeownership
Figure 2. Continuum of Household Types by Household Income
Housing Cost Burden in the District
Threshold Definition (basis for housing assistance program eligibility)
• Burdened - Monthly Housing Costs(MHC) greater than 30 percent of Gross Household Income (GHI)
• Severely Burdened - MHC greater than 50 percent of GHI
Figure 5. District of Columbia Distribution of Housing Cost Burden
Total Households Spending More than 30% of Income for Housing: 98,400
Distribution of Housing Subsidies to Address “Burden” and Incentivize Investment
Two Basic Methods of Subsidizing Housing:
• Direct Government Outlays for Housing Assistance Programs
• Indirect Tax Subsidies
Figure 4. Housing Subsidy Distribution by Income Quintile in US - 2004
District’s Continuum of Affordable Housing Related to Program Eligibility Limits
Basic Types of Assisted Housing:
•Supportive Housing
•Assisted Rental Housing
•Assisted Homeownership
Figure 6. District of Columbia Continuum of Affordable Housing Related to Income
Eligibility Limits
Recommendations
1. Adopt and Use the Public Policy Framework to:• Develop & Sustain Continuum of Housing
• Create & Maintain Neighborhoods of Opportunity
• Engage the Network of Public/Private Partners
2. Increase Resources for Housing Continuum
3. Strengthen Locally Funded Program Tools
4. Improve Practices and Processes
Increase Resources for Housing Continuum
• Comprehensive Housing Strategy Task Force Recommended Funding Level - $255 M ($4.26)
• Current FY 2010 Funding Level - $80 M ($1.33)
Figure 7. Share per $100 of the DC Locally Funded Budget – FY 2010
Strengthen Locally Funded Program Tools- Resources
• Housing Production Trust Fund• First Right Purchase Assistance Program• Local Rent Supplement Program• Home Purchase Assistance Program• Housing First Fund
Table 4. Proposed 5-Year Budget Increases for Affordable Housing ($ millions)
Strengthen Locally Funded Program Tools - Process
HPTF Honor Commitment to Stabilize
FRPAP Enable Tenant Ownership; Revisit Regulations With Lenders
LRSP Simultaneous Awards; Steady Funding
HPAP Stability of Funding
HFF Coordinated Production Plan; Consolidated RFP
Improve Practices & Process
• Implement Comprehensive Housing Strategy Task Force Recommendations
• Improve Financing Practices * Interagency Coordination * Role of Public Financing * Streamline Financing & Payments
• Increase Transparency• Modify Homeownership Programs
An Affordable Continuum of Housing…Key to a Better City