Developing Homes Transforming Lives · homes that they can afford and to build opportunities for...
Transcript of Developing Homes Transforming Lives · homes that they can afford and to build opportunities for...
2015 ANNUAL REPORT
Developing Homes LivesTransforming
Our Staff
Our Board of Directors
Seila Mosquera Executive Director
Bonnie Ballantyne
Chief Financial Officer
Julie Savin Director of Real Estate
Development
Tammy Talton Director of Property
Management
Tricia McKusick Accountant
Lucinda Davis Accountant
Sylvia Hagans Accountant
Latrese Pringle Financial Admin Asst
Yves Galliotte Accounting Manager
Ella MauhsAsset Management /
Compliance
Clara IzaguirreCompliance Manager
Carmen Rodriguez Admin Asst
Valencia Williams Property Manager
Zuleika VichesAdmin Asst
Ann DeNutteProperty Manager
Jo-Anna MokbilAdmin Asst
Zoraida CrespoAdmin Asst
Debora AquinoProperty Manager
Melissa BryanProperty Manager
Jenny BermeoAdmin Asst
Cesar Pilco Maintenance Supervisor
Israel CorderoMaintenance Technician
Rafael Salgar Maintenance Technician
Pedro Cazon Hernandez Maintenance Technician
Radames Barriera Maintenance Technician
Joey Guzman Maintenance Technician
Julio Arroyo Maintenance Technician
Rhodric Randle Maintenance Technician
Nelson Rodriguez Maintenance Technician
Andrea Asprelli Grants & Fundraising
Coordinator
Jonathan Jordan Jr Project Manager
Thomas Cruess Sr. Project Manager
Jose Santos Financial Education & Counseling Services
Olivia Davis Resident Services &
Leadership Development Coordinator
Ivette Hernandez Resident Services
Coordinator
Pat VillanoMarketing & Media Assoc.
Marylis Lugo AmeriCorps VISTA
Ed SeibertPresident (2009-2015)
Business Member
Jose LopezPresident (current)Business Member
Paul BegemannVice President
Business Member
Steven DiazSecretary
Public Member
Thach PhamTreasurer
Business Member
Michael D. HawesBusiness Member
Jace D’AmicoBusiness Member
Steve MednickBusiness Member
Michelle Lee Rodriguez
Resident Member
Tanya SegelBusiness Member
A Message from our
Executive Director & Board Chair
Dear Friends,
At NeighborWorks New Horizons (NWNH) our goal is to provide families and individuals with quality homes that they can afford and to build opportunities for residents to grow and thrive. NWNH is proud to present the progress made towards that goal in 2015.
This past year 113 new and rehabbed units were added to our portfolio and the second small house was completed in partnership with the Yale School of Architecture and sold to a NWNH resident. In addition, there were 83 new units under construction, 42 existing units being renovated (preserved) and more than 200 units in our development pipeline. With the portfolio growth and a geographical expansion there was a need for a more robust property management technology platform and the redesign of the Property Management Department.
While we build structures, NWNH also provides support to over 1,600 residents who live in our communities. The after school program assists our youth improve their grades while the summer program provides fun educational and recreational activities. More exciting this year is a partnership we have developed with Junior Achievement. NWNH residents participate in financial coaching, leadership development, and first time homebuyer classes, as well as activities that they organize in their communities.
We are only able to do our work because we have partners that care about the future of many families and children that otherwise would not be able to have quality, safe, affordable homes. Today we want to celebrate those partnerships, from our funders to our volunteers.
Home is where it all starts!
Sincerely,
Seila Mosquera, Executive Director Ed Seibert, Board Chair 2009-2015
Funders & Partners
Alpha Community Services
Bank of America Foundation
Beth-El Center
Bridgeport Housing Authority
Chase Bank
Citizens Bank
City of Bridgeport
City of New Haven
City of Norwich
City of Waterbury
Community Foundation for Greater New Haven
Community Housing Capital
CT Department of Housing
Connecticut Children’s Medical Center
Connecticut Community Foundation
Connecticut Housing Finance Authority
Connecticut Housing Coalition
Connecticut Housing Investment Fund
Connecticut Trust for Historic Preservation
The Connection Inc.
Corporation for Supportive Housing
Department of Mental Health & Addiction Services
Eversource
Federal Home Loan Bank of Boston
First Niagara Bank
Greater New Haven Community Loan Fund
Guilford Community Fund
Guilford Savings Bank
Hands, Inc.
Harold Webster Smith Foundation
Helping Hands
HUD
Hudson Housing Capital, LLC
J’Damelia Associates
Junta
Knights of Columbus
Leeway, Inc.
Liberty Bank
Liberty Bank Foundation
LISC
Livable City Initiative, City of New Haven
The Melville Charitable Trust
National Equity Fund
NeighborWorks® America
NeighborWorks® Capital Corporation
Neighborhood Housing Services of New Haven
New Haven Chamber of Commerce
New Haven Housing Authority
New Haven Promise
New Opportunities New Reach
Partnership for Strong Communities
People’s United Bank
People’s United Community Foundation
TD Bank
TD Charitable Foundation
Town of Branford
Town of Guilford
Town of Hamden
Town of Southington
Town of Stonington
United Illuminating Co. / Southern Connecticut Gas
Waterbury Development Corp.
Webster Bank
Wells Fargo Bank
West River Neighborhood Association
West River Neighborhood Revitalization Zone
Yale School of Architecture
Table of Contents
Celebrating Homeownership & Building Homes: Real Estate Development | 6-9
Sustaining Stewardship:Property Management | 10-11
Supporting Strong Communities:Community Building & Engagement | 12-13
Financials 14-15
6
The City of New Haven has many scattered sliver lots that are undevelopable due to their small size. To turn these lots into affordable housing for New Haven’s residents, NWNH partnered with the Yale School of Architecture for the second year in a row, with funding from the State of Connecticut’s Department of Housing and the City of New Haven, to task architectural students to design an energy efficient, cost effective home, adaptable to mass production for these small lots. Marketed to individuals earning 80% AMI this 1,000 square foot single-family home sold for $155,000 to 14-year NWNH resident.
THE INNOVATION HOMEA Partnership with Yale School of Architecture
Celebrating Homeownership
7
ABOUT THE HOUSE
The Innovation Home is a 3 bedroom, 2 bathroom home located on a corner lot in New Haven’s West River neighborhood. Students were challenged to develop a cost-efficient and flexible design prototype that could be adapted to similar sites in New Haven and other urban environments across the country. The design requirements included amenability to a sliver lot footprint; energy efficient design; energy efficient envelope; cost effective design for affordable construction; potential for prefabrication for mass production; adaptable modules for varying lots and orientation; adaptable roof line; multi-units; and flexible interior space.
ABOUT THE HOMEOWNER
A first-time homeowner, Jan Lewis has been a NWNH resident for 14 years. She has been active in the community for over 10 years, serving on the board of the West River Neighborhood Association and a former board member of NWNH. She has volunteered with block watch, voter’s registration drives, and neighborhood revitalization efforts. She has completed NWNH’s Leadership Training program, and has had an active role in her NWNH resident council. An early childhood provider at Yale for over 20 years, she is now attending Gateway Community College for early childhood education.
“I’ve always lived and worked in this neighborhood. I’m so happy to be able to stay and find a home here.”
- Jan LewisFirst-time homebuyer
8
REAL ESTATE DEVELOPMENTNWNH develops affordable housing opportunities for both rental and homeownership in New Haven, Fairfield, and and New London Counties. The majority of NWNH units are set aside for individuals earning between 25-80% of Area Median Income (AMI).
St. Paul’s Commons - Bridgeport, CT16 newly constructed affordable housing units for elderly residents earning 25-60% of Area Median Income, were completed as the first phase of a 56-unit project, which will have 12 set-asides for supportive housing. Funding provided by LIHTC, State of Connecticut Department of Housing, and the City of Bridgeport.
113 86 211UNITS
COMPLETEDNEW UNITS
IN CONSTRUCTIONUNITS
IN PIPELINE
COMPLETEDHighlights
Building Homes
The Hill Development - New Haven, CT56 units were rehabbed from a 65 unit scattered site development in the Hill neighborhood of New Haven.
9
Spruce Ridge MeadowsPawcatuck, CT
Spruce Ridge Meadows will feature 6 newly constructed buildings providing 86 rental units, including 1, 2, and 3-bedroom apartments. Designed to maximize community impact, Spruce Ridge Meadows will house two community rooms with full kitchens, playgrounds, tenant storage, a fitness center, outdoor recreational space, and a part-time resident services coordinator. The project will be completed in two 43-unit phases, with the first phase anticipated to complete in 2016 and the second in 2017.
Committed to a holistic approach to community development, NWNH has partnered with the Town of Stonington Department of Human Services to provide supportive services for the disabled and/or chronically homeless in the 18 units set aside as supportive units for individuals and families below 25% AMI.
Linden Street, Waterbury CT6 building scattered site rental project including rehabilitation and new construction.
Spring Rose Gardens, Hamden CTFormerly the Michael Whalen School, this 21 acre property will be developed into 99 newly constructed mixed income rental units and a rehabilitated community center, renovating the main school building and gymnaisum and constructing new townhome style housing.
River Breeze Commons, Shelton CT68 newly constructed units as part of Phase III of the Shelton River Front Development Project.
IN CONSTRUCTIONHighlights
PIPELINEHighlights
10
PROPERTY MANAGEMENT & ASSET MANAGEMENT
NWNH expanded its property management portfolio in 2015. By implementing best practices and upgrading our property management system through comprehensive, integrated software, NWNH is able to process applications quicker, get families housed sooner, and complete work orders more efficiently, making sure residents receive high quality service and care for their homes.
135NEW FAMILIES
MOVED IN
650APPLICANTSPROCESSED
2,785WORK ORDERS
COMPLETED
Every spring, Eunice Lasala, Branford Garden Club and Larry Appleton, Landscape Architect, team up with Quinnipiac students to perform a spring clean-up at Rosenthal Gardens.
Sustaining Stewardship
11
56UNITS
ADDED
135UNITS
LEASED
62UNITS
IN PRESERVATION
NWNH added 56 units to its property management portfolio in 2015, and now manages 573 affordable housing units in New Haven, Fairfield, and New London Counties. NWNH has also seen a steady rise in occupancy rates, indicative of the increasing demand for affordable housing in Connecticut.
NWNH added 40 units of elderly housing at Winter Grove in Southington, CT and 16 units of elderly, with a set aside for supportive housing, at St. Paul’s in Bridgeport, CT.
NWNH has leased 37 new units at Elias Howe in Bridgeport, 40 senior housing units at Winter Grove in Southington, 16 units at St. Paul’s Commons in Bridgeport, and 42 units at the Hill Development.
NWNH preserves the public and private investments that have been made in its affordable housing stock for the past 23 years. 29 units in Branford, 13 units in Guilford, and 20 units in Fair Haven are slated for comprehensive rehabilitation over the next year, including energy efficiency upgrades which reduce tenants’ utility bills while conserving our natural resources.
92%
94%
96%
90%
91%
92%
93%
94%
95%
96%
97%
2013 2014 2015
Occupancy Rates
441
517 573
0
100
200
300
400
500
600
700
2013 2014 2015
Managed Units
12
COMMUNITY BUILDING & ENGAGEMENT
At NWNH, we do more than just build the box. Our Community Building & Engagement department provides resident services such as homebuyer education, financial counseling, leadership training, resident councils, afterschool programming, and hosts special community events.
Financial Literacy
NeighborWorks Week
106HOMEBUYER EDUCATION
PARTICIPANTS
34CREDIT COUNSELING
PARTICIPANTS
14NEW HOMEOWNERS
IN 2015
Each summer, NWNH participates with NeighborWorks charter organizations nationwide in NeighborWorks Week, coordinating community activities to bring together NWNH residents, neighbors, staff, and volunteers. In 2015, NWNH had community gardening days at its Canterbury Gardens and Fair Haven developments in New Haven, and sponsored the New Haven Ballet’s “Dancin’ in the Streets” festival.
Supporting Strong Communities
13
After-school Programs
Resident Leadership
10NWNH LEADERSHIP
TRAINING GRADUATES
35RESIDENT COUNCIL
PARTICIPANTS
359RESIDENT VOLUNTEER
SERVICE HOURS
Residents at three New Haven sites are served with afterschool programs, providing kids with a safe place to play and learn, and allowing working parents to have a free afterschool alternative. Focusing on financial literacy, reading, and leadership skills, 90% of afterschool students in 2015 increased their grades in literacy and mathematics.
Pink Lady Day was held on Jan 30, 2015 at Highwood Square, when residents in leadership training took an active role in helping to recognize their neighbor, Cheryl White, who was diagnosed with breast cancer. Mayor Toni Harp declared this event to be Pink Lady Day in honor of Ms. White. Partners for the event included the Bigelow Tea Company in Fairfield, CT and Yale University.
Resident-Led Events
14
2015Mutual Housing Association of South Central Connecticut, Inc. and Affiliates
dba NeighborWorks New HorizonsConsolidated Statement of Financial Positions
as of December 30, 2015 (Projected) and December 31, 2014 (Audited)Balance Sheet
ASSETS Cash Grants and other receivable Tenant receivable Prepaid expenses Other assets Property, Furn. & Equip., net Restricted cash Resident security deposits Notes receivable Deferred costs Development costs
TOTAL ASSETS
REVENUES Foundation grants and corp cont. Government grants Investment income Rental income Other income Management fees and reimbursements Developer's fee Donated services Permanently restricted net assets
TOTAL REVENUE
2015700,161337,47967,41491,443
292,47767,188,0611,191,760
285,42090,000
652,19614,309,799
85,206,210
2015
529,2897,344,933
34,2713,777,935
59,871168,090
-28,50075,000
12,017,889
2014342,309
1,399,19990,23289,32558,088
59,497,0581,336,688
274,28290,000
695,94013,989,186
77,862,307
2014
333,2057,613,337
5,5733,343,415
337,18467,42628,43230,00024,313
11,782,885
15
Financials
LIABILITIES Accounts payable - operating Accounts payable - construction Accrued expenses Accrued interest payable Other liabilities Line of Credit Mortgages payable Security deposits Membership fees Deferred revenue
TOTAL LIABILITIES NET ASSETS
EXPENSES General and administrative expenses Program services Fundraising expenses TOTAL EXPENSES
CHANGE IN NET ASSETS-OPERATIONS NON OPERATING INCOME (EXPENSE)
Forgivable loans Loss on investment in partnership Sale of units/less cost of properties sold Depreciation and amortization Interest expense Amounts attributed to non controlling interest CHANGE IN NET ASSETS
2014429,612
2,667,795300,071
4,807,75031,628
350,00039,449,196
284,638103,072
4,625,370
53,049,132
24,813,175
2014305,616
4,687,937108,932
5,102,485
6,680,400
104,936(269,547)(269,547)
(2,466,429)(971,164)
1,696,435
2,772,990
2015358,691
3,263,241366,970
5,356,63217,375
175,00042,251,245
302,848104,316
4,147,283
56,343,601
28,862,609
2015294,432
4,517,982104,946
4,917,360
7,100,529
Mutual Housing Association of South Central CT, Inc. d/b/a/ NeighborWorks New Horizons
235 Grand Ave.New Haven, CT 06513
203-562-4514 | www.nwnh.net
NWNH mission is to strengthen neighborhoods by developing quality, affordable homes and supporting community building initiatives.