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HOUSING 101
Presented by Mandy De Mayo and the Texas Center for Disability Studies
May 2013
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INCOME LEVELS
Median Family Income (MFI)
Low-Income (80% of MFI)
Very Low-Income (50% of MFI)
Extremely Low-Income (30% of MFI)
Supplemental Security Income (SSI)
$710/month (individual) = $8,520/year
$1,066/month (couple) = $12,792/year
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2013 AREA MEDIAN FAMILY INCOME
(AUSTIN)
HH# 1 2 3 4 5 6 7 8
30%
MFI $15,390 $17,580 $19,770 $21,960 $23,730 $25,500 $27,240 $29,010
50%
MFI $25,650 $29,300 $32,950 $36,600 $39,550 $42,500 $45,400 $48,350
60%
MFI $30,780 $35,160 $39,540 $43,920 $47,460 $51,000 $54,480 $58,020
80%
MFI $41,040 $46,880 $52,720 $58,560 $63,280 $68,000 $72,640 $77,360
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WHAT IS AFFORDABLE?
Affordable Rent
30% of gross income toward rent and utilities
Individual on SSI = $213/month for rent and utilities
Couple on SSI = $320/month for rent and utilities
Fair Market Rent
Determined by HUD annually
$834/month for one-bedroom in Austin
$1,050/month for two-bedroom in Austin
So someone on SSI in Austin would need to spend more than
100% of their entire income on housing costs.
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COST OF HOUSING - DEVELOPMENT
De
velo
pm
en
t C
osts
Land Acquisition
Predevelopment Expenses
Construction Costs
Architectural Fees
Professional Fees
Transactional Fees
Financing Fees
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COST OF HOUSING - OPERATIONAL
Op
era
tio
na
l C
osts
Utilities
Taxes
Mortgage/Financing
Groundskeeping
Bookkeeping
Repairs
Reserves
Management Fees
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BASIC MATH: HOW CAN WE MAKE
HOUSING AFFORDABLE?
Loan Amount Interest Rate Term (Years) Principal &
Interest (Monthly)
Operating
Expenses
(Monthly)
Rent
(Per Unit)
$1,000,000.00 8% 20 $8,364.40 $2,500 $1,087
$1,000,000.00 7% 20 $7,752.99 $2,500 $1,026
$750,000.00 5% 20 $4,949.67 $2,500 $745
$500,000.00 4% 30 $2,387.08 $2,500 $489
$0 $0 n/a $0 $2,500 $250
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TYPES OF SUBSIDIES
Development
Grants/Equity
Below Market Loan/Debt
Operating
Rental Subsidies
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AFFORDABLE HOUSING RESOURCES
DEVELOPMENT AND OPERATIONS
Federal
State
Local
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HOUSING AT THE FEDERAL LEVEL
Federal
Housing $
USDA
HUD
Veterans Affairs
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FEDERAL LEVEL
HUD SECTION 811
Section 811
National Affordable Housing Act of 1990
Nonprofit Sponsor
Dual Subsidy
Capital Advance
Operating Subsidy
Development Type
New Construction, Acquisition, or Rehab
Group Home or Independent Living Facility
Accessible
Section 504
Fair Housing Act
Tenant Profile
Low-Income (<50% MFI)
Qualified Disability
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DECLINING FUNDING:
0
500
1000
1500
2000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Un
its
Year
Section 811 Units
2000 - 2009
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SECTION 811 MELVILLE ACT
PROJECT RENTAL ASSISTANCE OPTION:
“Three - legged stool” for Supportive Housing
Capital (HFA)
Operating (HUD)
Services (Medicaid, HHS)
30-year use restriction (5 year PRA + renewal)
30% MFI income targeting
New integration rule (<25% units reserved for people with disabilities)
TDHCA awarded $12 million under the Section 811 Project Rental Assistance Demonstration Program
385 units
Layered with TDHCA-financed multifamily developments
Finalizing contract with HUD
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HOUSING AT THE STATE LEVEL
TDHCA
TSAHC
Affordable Housing
Production
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TEXAS STATE AFFORDABLE HOUSING
CORPORATION (TSAHC)
TSAHC Homeownership
The Professional Educators Home Loan
The Homes for Texas Heroes Home Loan Program
The Home Sweet Texas Loan Program
Direct Lending (Multifamily and Single Family)
Affordable Communities of Texas Land Bank
Asset Oversight and Compliance
Foreclosure Prevention
Homebuyer Education Certification (TSHEP)
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TEXAS DEPARTMENT OF HOUSING AND
COMMUNITY AFFAIRS (TDHCA)
State Housing Finance Agency
Administers variety of affordable housing programs
(single-family and multifamily):
My First Texas Home
Low Income Housing Tax Credits
Multifamily Bonds
HOME
Housing Trust Fund
Neighborhood Stabilization (NSP)
Monitoring and Compliance
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TDHCA SERVICE REGIONS
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TDHCA - RENTAL SUBSIDIES
Tenant Based Rental
Assistance (HOME)
TDHCA Project Access
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HOUSING AT THE LOCAL LEVEL
Municipalities
Public Housing Authorities
Receive Funds from Federal and/or State
Level
Determine Local Needs via
Consolidated Plan or Planning
Process
Funding for Affordable
Housing and Community
Development
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PUBLIC HOUSING AUTHORITIES
Receive Funding Directly from HUD
400+ PHAs in Texas
56,000+ units in Texas
Single-family scattered
Multifamily
Housing Choice Vouchers
Tenant-Based (Portable)
High Demand
Targeted Vouchers
HUD-VASH
Non-Elderly Disabled (NED)
Mainstream
Family Unification Program (FUP)
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OPPORTUNITIES FOR INPUT
Local
Consolidated Plan
PHA Plan
State
Consolidated Plan
PHA Plan
State Low Income Housing Plan (SLIHP)
Qualified Allocation Plan
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QUESTIONS?
Call In Number:
1-866-643-5251 (Toll Free)
Passcode:
512-232-0740
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SPECIAL THANKS
The Housing and Services Partnership Academy is paid for with 100% federal
funding from the Real Choice Systems Change Grant awarded to the State of
Texas by the Centers for Medicare and Medicaid Services.
The Real Choice Systems Change Grant is a partnership between the Texas
Department of Aging and Disability Services and the Texas Department of
Housing and Community Affairs. This grant is awarded through September
29, 2013.