The Source forHousing Solutions

Using Tax Credits to Create Supportive Housing

Holly Denniston-ChaseLoan Officer

What We Do

CSH is a touchstone for new ideas and best practices, a collaborative and pragmatic community partner, and an influential advocate for supportive housing.

Lines of Business

Training &

Education

Policy Reform

Consulting &

Assistance

Lending

Research-backed tools, trainings and knowledge

sharing

Powerful capital funds, specialty loan products and development expertise

Custom community planning and cutting-edge innovations

Systems reform, policy collaboration and advocacy

Supportive Housing Training Center

Southview Villas, Hope Mills, NC

Rural Integrated Supportive Housing64 units (48 one-bedroom and 16 two- bedroom

units)

Financial Information

Capital LIHTC Equity (Investor: Raymond James) $3,945,156State Tax Credit $1,031,407Cumberland County Community Loan Fund Loan $ 400,000Deferred Developers Fee $ 113,615Bank Loan $ 564,000Total $6,054,178

Operating (Annual)Net Rental & Other Income $ 273,335Rental Income from Key Program $ 28,320

Services (Annual)Provided free of charge to residents by Local Lead Agency and its referral agencies, primarily funded by North Carolina Department of Health and Human Services.

North 17 Apartments, Phoenix, AZ

Supportive Housing Using Foreclosed Property72 apartments (36 one-bedroom and 36 two-bedroom units)

and on-site offices.

Financial Information

Capital AZ Department of Housing, NSP Grant $6,300,000 FHLB, Affordable Housing Program Grant $ 900,000 Total $7,200,000

Operating (Annual) Property operations $ 79,937 Rent collection $ 432,000

Services (Annual) VSUW Supportive Housing Grant $ 50,000 VSUW Working Poor Grant $ 27,500 Community Bridges, in-kind services $ 0 Private Donations $ 20,000 Total $ 97,500