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AFFORDABLE HOUSING STRATEGIC PLAN

AFFORDABLE HOUSING STRATEGIC PLAN. Presented to the Membership of Leadership Fort Worth February 27, 2019. Partners. City of Fort Worth Neighborhood Services Department Directions Home Fort Worth Housing Finance Corporation Fort Worth Housing Solutions Tarrant County Homeless Coalition

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AFFORDABLE HOUSING STRATEGIC PLAN

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  1. AFFORDABLE HOUSING STRATEGIC PLAN Presented to the Membership of Leadership Fort Worth February 27, 2019

  2. Partners City of Fort Worth Neighborhood Services Department Directions Home Fort Worth Housing Finance Corporation Fort Worth Housing Solutions Tarrant County Homeless Coalition Tarrant County Housing Finance Corporation Community Development/Housing Authority Housing Channel Trinity Habitat for Humanity

  3. Purposes of the Plan • Baseline data on housing conditions in Fort Worth today • Opportunities to fill gaps and reduce overlap • Shared vision & guiding principles for affordable housing initiatives • Roles and responsibilitiesfor each partner organization • Action steps • Basis for engagingadditional partners • Indicators to monitor progress FWHS TCHC Affordable Housing City/HFC Other Partners

  4. Vision Statement By 2028, Fort Worth will have an adequate and diverse supply of housing, distributed throughout the City. To achieve this vision, all organizations involved with housing in Fort Worth will strive to collaborate so their resources are used effectively,reducing duplication and creating synergiesto maximize housing choices and assistance to Fort Worth residents.

  5. Guiding Principles Fort Worth’s housing supply should be adequate to provide housing for all households. Fort Worth’s housing supply should include a variety of housing types so people at all income levels have housing choices that are appropriate for their age, ability and household structure. All parts of Fort Worth should include a mix of housing types for people of all income levels. People who are homelessshould be offered a place to live with appropriate subsidies and assistance. Housing resources should give priority to those with the greatest need. Financial assistance should be available to help households “fill the gap” in resources needed so they can live in safe, adequate housing. Households’housing and transportation costs should not burden their incomes to the point that they cannot afford food, medicine and other basic needs. Neighborhoods should be designed to support healthy lifestyles. Housing for people needing special assistance should incorporate design features and support services to meet these needs. Residents should have the information and education that enables them to access available housing assistance.

  6. Population Growth, 1950-2045 Fort Worth, Dallas, and Arlington 874,168 Sources: U.S. Census Bureau, NCTCOG

  7. Single Family and Multifamily Unitsin Fort Worth, 1990-2017 26.4% 25.6% 29% 29.5% 73.5% 74.4% 71% 70.5% Source:  U.S. Census Bureau Note: Duplex and mobile home data included in single family home total.

  8. Single-Family Residential Building Permits Issued 2014-2018 Source: Planning & Development

  9. Metro Area Median Housing Price, 1990-2018 Price spike since 2011 Source: Texas A&M Real Estate Center- Texas Housing Affordability Index (Dallas–Fort Worth–Arlington MSA and Fort Worth Local Market Area)

  10. Median Household Income, 1990-2017 Source:  U.S. Census Bureau

  11. Affordability in Fort Worth: Single-Family 57% Increase Data from Texas A&M Real Estate Center

  12. Growing Challenge for First-Time Homebuyers Homes under $150k went from 67% of Market to 18% of Market in 6 years Source: Texas A&M Real Estate Center

  13. Multifamily Residential Building Permits Issued 2014-2018 Source: Planning & Development

  14. Apartment Vacancy Rate Trends Multifamily Vacancy Rate Trends Vacancy Rate • * Through 3Q • Sources: IPA Research Services, RealPage, Inc.

  15. Affordability in Fort Worth: Multifamily 35% Increase Data from RealPage Inc./MPF Research 3rd Qtr. Report, 2017

  16. Fort Worth-Arlington Rents 20-40% increase over 5 years depending on bedroom size Source: MPF Research, 2nd Qtr. Report

  17. Ability to Pay for Housing in Fort Worth Affordability Housing costs (excluding utilities and transportation) <30% of monthly gross income. NOTE: HUD Income Limits for 2018

  18. Ability to Pay for Housing: Fort Worth’s Income Distribution Over 40,000 households in Fort Worth have incomes under 30% of AMI; Nearly 1/3 (29.1%) of households have incomes under 50% AMI Source: HUD CHAS tabulation of U.S. Census Bureau American Community Survey, 2016

  19. Cost Burden: Renters and Owners Owner Housing Costs as % of Income Renter Housing Costs as % of Income • Renters are more likely to be cost-burdened than are owners: 44.8% compared to 22.3%. • This represents 92,000 households (nearly 1/3 of Fort Worth population). • (Source: U.S Census 2016 ACS)

  20. Vulnerable Populations Many fall within 30% AMI Cohort • Disabled • Represent approximately 11% of total Fort Worth population • 39,326 with ambulatory difficulty • 23,930 with difficulty living independently • 44,284 adults (18-64), 24,284 elderly (65+) • Homeless • 1,787 persons in Fort Worth(January 2018 Point-in-Time Count) • 2,015 persons in Tarrant and Parker counties (January 2018 Point-in-Time Count) Data Sources: HUD AFFH 2017; TCHC State of the Homeless

  21. ► DATA ◄ Housing Stock for Homeless System April 12, 2018 Housing Options Permanent supportive housing – long term rental assistance and case management Rapid rehousing – short term rental assistance and case management Other permanent housing – a voucher for rental assistance but no supportive services Data Source: HUD, Housing Inventory Count Data Since 2007, Tarrant County Homeless Coalition for 2018

  22. Permanent Supportive Housing City of Fort Worth has made the creation of Permanent Supportive Housing a priority in the effort to end chronic homelessness. PSH Recommended Project Guidelines: At least 20 PSH units per project No more than $25,000 per PSH unit from HFC Developer must bring equity to project Preference towards rehabilitation of existing residential properties HFC has $5 million available to invest in PSH Foundations will match HFC’s investment dollar for dollar Will leverage resources such as housing vouchers

  23. ► DATA ◄ Tarrant County Housing Needs for Homeless System April 12, 2018 Estimated units/slots needed by 2026: 1,450 permanent supportive housing units estimated 1,860 slots of rapid rehousing estimated Units Needed (9/4/18): Waiting list for PSH: 330 Waiting list for Rapid Rehousing: 763 Data Source: “Housing Needs Forecast for Affordable Housing in Tarrant County, Texas 2017-2026.” OrgCode Consulting, Inc.

  24. Summary of Greatest Needs • Households with incomes of 0 – 30% AMI: Over 40,000-unit gap • Homeless persons needing permanent supportive housing (PSH): 1,450 PSH units needed • Persons needing rapid rehousing assistance: 1,860 slots of RRH needed to prevent long-term homelessness • First-time homebuyers

  25. Who Does What? Partner Roles and Responsibilities

  26. Partner Roles and Responsibilities

  27. Partner Roles in Meeting Greatest Needs

  28. Steps to Monitor & Report on Progress • Track key indicators • Changes in population & income • Market changes • Unitproduction • Resource leveraging • Hold quarterly meeting of Partners to track progress • Production dashboard • Setunified goals for targeted populations • Coordinate resources • Provideannual report and briefings to key stakeholders

  29. Resolutions Adopting Strategic Plan 12/4/18 12/13/18 1/28/19

  30. Kelly Allen Gray Fort Worth City Council & Housing Finance Corporation Mary-Margaret Lemons Fort Worth Housing Solutions Tammy McGhee Tarrant County Homeless Coalition Dr. Anthony Edwards Fort Worth Chamber of Commerce

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