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Continuum of Housing Report Release and Campaign Kickoff

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

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Continuum of Housing Report Release and Campaign Kickoff

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  1. An Affordable Continuum of Housing…Key to a Better CityCoalition for Nonprofit Housing & Economic Development (CNHED)July 15, 2010 Continuum of Housing Report Release and Campaign Kickoff

  2. 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

  3. 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

  4. 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

  5. Defining the Housing Continuum • Two Key Variables: • Household Income • Housing Type

  6. Figure 1. Continuum of Household Income Groups

  7. Housing Types Related to Household Income • 3 Primary Types • Supportive Rental Housing • (with essential resident supportive services) • Rental Housing • (without supportive services) • Homeownership

  8. Figure 2. Continuum of Household Types by Household Income

  9. 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 percentof GHI

  10. Figure 5. District of Columbia Distribution of Housing Cost Burden Total Households Spending More than 30% of Income for Housing: 98,400

  11. 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

  12. Figure 4. Housing Subsidy Distribution by Income Quintile in US - 2004

  13. District’s Continuum of Affordable Housing Related to Program Eligibility Limits • Basic Types of Assisted Housing: • Supportive Housing • Assisted Rental Housing • Assisted Homeownership

  14. Figure 6. District of Columbia Continuum of Affordable Housing Related to Income Eligibility Limits

  15. Recommendations • 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 • Increase Resources for Housing Continuum • Strengthen Locally Funded Program Tools • Improve Practices and Processes

  16. 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)

  17. Figure 7. Share per $100 of the DC Locally Funded Budget – FY 2010

  18. 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

  19. Table 4. Proposed 5-Year Budget Increases for Affordable Housing ($ millions)

  20. Strengthen Locally Funded Program Tools - Process HPTF Honor Commitment to Stabilize FRPAPEnable Tenant Ownership; Revisit Regulations With Lenders LRSP Simultaneous Awards; Steady Funding HPAPStability of Funding HFFCoordinated Production Plan; Consolidated RFP

  21. 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

  22. An Affordable Continuum of Housing…Key to a Better City

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