Girls, Inc.

Girls

Integrating

Real

Life

SkillsA Residential Living Facility that provides

housing for young adult women (18-23) who age out of foster care.

Development TeamLynda V. Harris

VP, The Henderson Financial Group

Lori Martin, MBA

Executive Director, Aim For Success Inc.

Brett Hudson, MPA

Creative Community Developer

You Start, LLC

Janice Thompson

Property Manager,

Lauderhill Housing Authority

VisionThe vision of Girls, Inc is to provide

concentrated life skills programming and affordable housing to former foster care and

other at-risk youth (ages 18-23) as they transition to successful independent living.

Market Analysis

About 28,000 youth age out of foster care in America each year,

including over 200 in Miami-Dade County in 2016.

Significant Need More than one in five will become homeless after age 18

Only 58 percent will graduate high school by age 19 (compared to 87 percent of all 19 year olds)

71 percent of young women are pregnant by 21, facing higher rates of unemployment, criminal conviction, public assistance, and involvement in the child welfare system

Fewer than 3 percent will earn a college degree by age 25 (compared to 28 percent of all 25 year olds

One in four will be involved in the justice system within two years of leaving the foster care system

There is a huge unmet market for aged-out foster

children.

There are currently 179placements that do not

have a place to go.

North Miami Vs.

Miami-Dade County Stats

Average Household Income: $38K / $48K

Cost Burden (%): 65.3 / 61.9

Percent Below Poverty (%): 18.9 / 11.8

Lack of AffordableOfferings

Center Court Apartments589 LIHTC units

Harvard House55 LIHTC units

Total: 644 low-income housing units 19,275 total housing stock (3.3%) 9,445 total rental units (6.8%)

Development Concept

Multi Level Duplex

Each Side Consisting of 3 Bedrooms and 2 Baths

Total Square Footage Per Side – 996 x 2 = 1,992

Cost Per Square Footage = $170.00 per sq. ft. = $338,640

Construction Cost of each Duplex - $340,000

$340,000 x 5 Duplexes = $1,700,000

Partnerships:

Improve Affordable Living

Skills Building

Build Community

CommunityImpact

Community Amenities

Educational OptionsGroceryParks and Green Space

Considerations and Challenges Endogenous factors:

- Attrition Rates

- North Miami ordinance for duplex housing

Exogenous factors:

- Funding cutbacks for services

- Economic conditions, housing market

- Political climate

FinancialFeasibility

Development Budget Sources

Funding Sources Amount

Mortgage 1,250,000 (66% LTV)

Federal Home Loan Bank of Miami

100,000

City of North Miami CDBG Grant 200,000

City of North Miami SHIP Grant 100,000

Owner Equity 250,000

Total Funding 1,900,000

ProForma SummaryProject RevenuesNumber of Units 10Average Rent/Unit/ 30 Beds 37,530Gross Rent 450,360

Less Operating Expenses (361,095.00)Net Project Revenues 89,265

Project CostsLand Acquistion 250,000Sitework & Building Construction 1,693,200Off site costs 31,250Developer Fee 315,912

Total Project Costs 2,290,362

Net Cash Flow Before Financing (minus Funding Sources) 1,640,362.00

Debt Service Coverage Ratio 1.52

In Closing…

Thank You!

Girls, Inc.305-311-9256