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
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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
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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
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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
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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
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Defining the Housing Continuum
Two Key Variables:
• Household Income
• Housing Type
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Figure 1. Continuum of Household Income Groups
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Housing Types Related to Household Income
3 Primary Types
• Supportive Rental Housing (with essential resident supportive services)
• Rental Housing (without supportive services)
• Homeownership
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Figure 2. Continuum of Household Types by Household Income
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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
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Figure 5. District of Columbia Distribution of Housing Cost Burden
Total Households Spending More than 30% of Income for Housing: 98,400
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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
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Figure 4. Housing Subsidy Distribution by Income Quintile in US - 2004
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District’s Continuum of Affordable Housing Related to Program Eligibility Limits
Basic Types of Assisted Housing:
•Supportive Housing
•Assisted Rental Housing
•Assisted Homeownership
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Figure 6. District of Columbia Continuum of Affordable Housing Related to Income
Eligibility Limits
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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
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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)
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Figure 7. Share per $100 of the DC Locally Funded Budget – FY 2010
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Strengthen Locally Funded Program Tools- Resources
• Housing Production Trust Fund• First Right Purchase Assistance Program• Local Rent Supplement Program• Home Purchase Assistance Program• Housing First Fund
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Table 4. Proposed 5-Year Budget Increases for Affordable Housing ($ millions)
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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
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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
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An Affordable Continuum of Housing…Key to a Better City