TCDC Board Presentation Veterans Village

John D Dingell, Jr.
Veterans Village
Taylor Community
Development Corporation
John
Jr Veterans
VillageVillage
JohnDDDingell,
Dingell,
Jr. Veterans
The following is a plan to create a sustainable, mixed-income
community serving the needs of the citizens of Taylor. This
development is a continuation of the Taylor Community Development
Corporation plan to meet the need for high-quality affordable housing
to low-to-moderate income residents in Taylor. This low-impact, highneed approach puts vacant land to good use adding additional value to
the Villages of Taylor while conserving and investing in green space.
The plan leverages investments from private and public sources to
create long-term value for Taylor.
The City of Taylor is invested in Veterans, experiencing most of its
population growth after the Second World War and continuing to see
the return of hometown heroes transitioning to civilian society. To
prepare for the needs of aging and returning Veterans this plan serves
as an important milestone in ensuring the welfare of its citizens.
Taylor Community
Table of Contents
The Opportunity: Why Now is the Right Time
The Journey Home: How to Open Doors to Vets
Planning for Success: Recommended Approach
Path to Funding: Gearing Up for the Mission
Taylor Community
The Opportunity: Why Now Is the Right Time
John D Dingell, Jr. Veterans Village
Taylor Community
Veterans feel Lost in the Cracks

40% of Veterans seeking
care from VA Healthcare
System are homeless for 1
month to 2 years.
Veterans are listed as one
of the six sub-populations
homeless or at-risk in
Wayne County.
Taylor Community
Affordable Options is Biggest Barrier

Average income of Veterans seeking care from
VA Health Care System is $429 per month.
Monthly Income
$0
$1 99
$100 499
$500 999
$1,000+
Taylor Community
Veterans
47%
11%
8%
15%
19%
Finding Housing is a Long Process

On average 40-90 days for a homeless Veteran
to find an apartment home.
- Apartment search training classes
- Vetting housing options
- Transportation & accessibility to options
- Income qualification
- Application fees & security deposits
Taylor Community
It Starts with a Place to Call Home
Taylor Community
Significant Investments Underway

$1.6 billion invested in 2015 to end Veteran homelessness.
Taylor Community
The Midwest is Investing

600+ Permanent Supportive Housing units, and more to come
150 Units
175 Units
52 Units
150
Units
Taylor Community
75 Units
300 Units
10
10
Need Served through LIHTC Funds

John D. Dingell Jr,
The Need
Piquette
Square
Silver Star
Phase I
Hope Manor
Phase I
Veterans Manor
Lincoln Apartments
Veterans Village
Taylor, MI
Detroit, MI
Battle Creek, MI
Chicago, IL
Milwaukee, WI
Indianapolis, IN
11,414 veterans
(Calhoun County)
224,033 veterans
(Cook County)
54,937 veterans (Milwaukee

County)
59,214 veterans (Marion

County)
110,566 veterans (Wayne County)
Veterans
Served
30% AMI
30% AMI
30% AMI
30-60%
AMI
30-60%
AMI
30-60%
AMI
Size
100 units
(Phase 1)
150 Units
75 Units
(Phase 1)
80 Units
(Phase 1)
52 Units
75 units
Year
Built
2015
2010
2009
2011
2011
2012
Cost
$15.17M
$22.9M
$8.4 Million
$14.7 Million
$11.3 Million
$11.6 Million
Building
Size
75,000 Square Feet
106,000 Square Feet
72,665 Square Feet
48,724 Square Feet
62,259 Square Feet
Support
Services
Wayne Metropolitan
Community Action
Agency
Southwest Housing
Solutions
Veteran Residents & VA

Battle Creek
Volunteers of
America
Center for Veterans Issues
Voucher
Program
HUD-VASH & ProjectBased Vouchers
HUD-VASH Vouchers
Project-Based Vouchers
HUD-VASH & ProjectBased Vouchers (30

Units)
HUD-VASH (17 units) &

Housing Choice Vouchers (35
Units)
Funding
$10.78M LIHTC
$4.40M Loan
$7M HOME Funds

$6.7M MSHDA TaxExempt Bond
$6.5 LIHTC
$1.7 Brownfield Tax
Credits
$4.7 LIHTC
$4.1M HOME Funds
Enhanced-Use Lease VA
$8.5M LIHTC
$1M HOME Funds
$1M VA Capital Grant
$1.5M City of
Chicago
Land $1 Donation
$1.35 ERP Funds
$6.8M LIHTC
$1M Milwaukee City/County
Taylor Community
Volunteers of America
$9.8M LIHTC
$.5M Home Funds
$.3M IAHCDA Grant
City Land Donation
11
Success Leads to Future Phases

John D Dingell, Jr
Veterans Village
Phase II
John D Dingell, Jr
Veterans Village
Phase II
Silver Star Phase II
Silver Star
Phase III
Hope Manor
Phase II
Hope Manor
Phase III
Taylor, MI
Taylor, MI
Battle Creek, MI
Flint, MI
Chicago, IL
Chicago, IL
11,414 veterans
(Calhoun County)
The Need
Veterans
Served
30-60% AMI
30-60% AMI
30% AMI
30-60% AMI
Size
100 Units
100 Units
101 Units
73 units
Year
Built
2016
2017
2013
2015
2012
Cost
$16M
Building
Size
110,000 Square Feet
Support
Services
Veteran Residents & VA

Battle Creek
Voucher
Program
Funding
$12M LIHTC
$2.7M HOME Funds
$1.3M
Enhanced-Use Lease VA
$16.6M LIHTC
$1.9M HOME Funds
$3.5M City of Chicago
Taylor Community
2015
$23.4M
12
Permanent Supportive Housing

Successful model shows cost, social and economic benefits
Reduced health care and taxpayer service costs: Average

cost of homeless individuals reduced from $43,000 to
$17,000 per year with permanent supportive housing.
Improved quality of life: Improvement in mental health,
decrease in substance abuse, reduction in jail time,
increase in monthly earnings.
Improved market: Areas within 1,000-2,000 feet of
permanent supportive housing experience upward trend
in house prices.
Taylor Community
13
The Journey Home: How to Open Doors to Vets
Taylor Community
14
Create a Link from VA Medical Center
Welcome Home to
Silver Star Apartments, Battle Creek MI
Taylor Community
15
Cast a Wide Net for Eligible Residents

Veterans receive preference for placement within Veterans Village
Homeless [Category 1] An individual or family who lacks a fixed, regular, and
adequate nighttime residence, meaning:
I.
An individual or family with a primary nighttime residence that is a public or

private place not designed for or ordinarily used as a regular sleeping
accommodation for human beings, including a car, park, abandoned building,
bus or train station, airport, or camping ground;
II.
An individual or family living in a supervised publicly or privately operated

shelter designated to provide temporary living arrangements (including
congregate shelters, transitional housing, and hotels and motels paid for by
charitable organizations or by federal, State, or local government programs for
low-income individuals); or
III.
An individual who is exiting an institution where he or she resided for 90 days or

less and who resided in an emergency shelter or place not meant for human
habitation immediately before entering that institution.
Taylor Community
16
Cast a Wide Net for Eligible Residents

Veterans receive preference for placement within Veterans Village
Special Needs An adult person/prospective tenant with a physical (including
profound deafness and legally blind), mental or emotional impairment that is of longterm duration, and, at the same time, the tenant must have a substantial and
sustained need for supportive services in order to successfully live independently. In
order to meet the special needs definition, tenants must require assistance in at
least two life-skill areas, such as:
Ability to independently meet personal care needs;
Economic self-sufficiency (capacity for sustained and successful functioning in

vocational, learning or employment contexts);
Use of language (ability to effectively understand, be understood and handle

communication as needed on a daily and ongoing basis);
Instrumental living skills (managing money, getting around in the community,

grocery shopping, complying with prescription requirements, meal planning and
preparation, mobility, etc.), or
Self-direction (making decisions/choices about ones day-to-day activities and

regarding ones future) or
The person is a recipient of SSI/SSDI.

Taylor Community
17
Distinguished Veterans Live Inside
Taylor Community
18
Celebrate Vets who Served at Entry
Taylor Community
19
Supportive Partner from Day One
Taylor Community
20
A Fully Furnished Apartment Home

700 Square Foot Apartments at Silver Star in Battle Creek, MI
Taylor Community
21
Assist their Stay with Vouchers

Qualify at 30% AMI , Rent at $712 per month with Rental Assistance
25 HUD-Veterans
Affairs Supportive
Housing (VASH)
Choice Vouchers
75 Project-based
Vouchers
Taylor Community
22
Start Veterans Off with the Essentials

Warm Coats, Work Attire, Home Goods, & Canned Goods Pantry
Taylor Community
23
Built-In Efficiency Reduces Burden

Residents Pay $0 Utilities, Owners Beat Utility Allowance Cost
Taylor Community
24
Door-to-Door Transportation Service

Shuttle to VA Medical Center, American Legions & Employment Resources
Taylor Community
25
Access to Community Resources

Education, Fitness, Art & Entertainment Amenities within the Community
Taylor Community
26
Training Opportunities
Taylor Community
27
Therapeutic Gardening
Build-Your-Own Garden Program
Taylor Community
28
Educational Workshops
Canning, Beekeeping, & Cooking Classes in Commercial Kitchen
Taylor Community
29
Revitalize Veterans Sense of Purpose

Connect to Veteran Volunteer Organizations & Employment Programs
Taylor Community
30
Recommended Approach
Taylor Community
31
Changing Taylor Together

Taylor Community
32
Integrated within Villages of Taylor

The Commons
The Ponds
Affordable Senior Housing
Affordable Rental
Housing
The Courtyards
Mixed-Income Affordable
and Market Rate Rental
The Parks
Market Rate
Rental Housing
The Springs
Market Rate Rental
Housing
Villages of Taylor
The Terraces
Affordable Housing
for Sale
Taylor Community
Phoenix Park
Proposed Veterans Housing
Phase 1,2 &3 20.962 acres
33
Needs-Based Phased Approach

PHASE 1
2015
April 1st, 2015 MSHDA 9% LIHTC Round

100 one-bedroom permanent supportive housing units
25 HUD-VASH PSH units Veterans who are homeless [Category 1]
Remaining 75 PSH units homeless [Category 1] OR special needs with a
preference for veterans
30% AMI with Project-Based & HUD-VASH Rental Assistance
House homeless [Category 1] with preference for Veterans
Supportive services provided by Wayne Metro Community Action Agency
Taylor Community
34

PHASE 2
2016
2016 MSHDA 9% LIHTC Round

Mixture of supportive housing and independent living,
Mixture of housing types
Evaluate need after successful phase I project
Taylor Community
35
PHASE 3
2017
2017 MSHDA 9% LIHTC Round

Mixture of supportive housing and independent living,
Mixture of housing types
Evaluate need after successful phase II project
Taylor Community
36
The Rebirth of Phoenix Park

PHASE 1
2015
2 2015 Redesign of Phoenix Park

In partnership with the Taylor Conservatory, leverage Veterans Village to
provide resources to redesign Phoenix Park. Offer Build-Your-Own
Garden Program supervised by master gardeners with an apprenticeship
program to teach Veterans how to grow and maintain their own plot.
Offer cooking & canning classes, educate the neighborhood nutrition and
importance of fruits & vegetables, donate harvest to Gleaners Food Bank
and Fish and Loaves, display Veteran artwork.
Taylor Community
37
The Rebirth of Phoenix Park
Taylor Community
38
Low-Impact Design
April 1st, 2017 MSHDA 9% LIHTC Round:

- Mix of supportive housing and independent living
- Mixture of housing sizes
- Meet the needs identified after Phase I completion.
65% of land remains green space
Taylor Community
39
Development Corridor
Taylor Community
40
Taylor Community
41
Path to Funding: Gearing Up for the Mission
Taylor Community
42
Path to April 1st MSHDA Submission

Submit with MSHDA Requirement Fulfilled Including Site Plan Approval
Architecture
Preliminary Concept
Site Planning
Total Archicture Cost
Budget
$
6,000
$
54,000
Total
60,000
119,380
8,115
20,000
$
$
12,700
220,195
Engineering
Topographic Study
Geotechnical Study
Conceptual Planning
Site Plan Approval Drawings
Site Plan Landscape Drawings
Construction Drawings
Landscape Construction Drawings
Easement Sketches/Descriptions
Meetings/Construction Engineering
ALTA Study
Total Engineering Cost
Taylor City Fees
Site Plan Review Fees (Multi-Family)
19 Prints of Site Plan
Legal Reviews, Documnetation Prep - Development Agreement Preparation & Review
Special Meeting - Zoning Board of Appeals - Use Variance
Wade-Trim Engineering Review
Total City Fee Cost
Legal Fees
Total Legal Fees
MSHDA Costs
Market Study
Submission Fee ($45/unit, max $2,500)
Enviromental Phase I ESA
Environmental NEPA
Total MSHDA Costs
Total Required for April 1st Submission
Taylor Community
$
$
$
$
$
$
$
$
$
$
9,850
12,780
1,500
45,000
4,500
30,000
3,500
2,250
6,500
3,500
4,115
$
$
2,500
1,500
20,000
$
$
$
$
6,000
2,500
2,400
1,800
43
Phase 1 Sources & Uses

Sources of Funds
Loan
LIHTC Equity
HOME Funds
Total Sources
$
$
$
$
4,400,288
10,778,084
15,178,372
Land
500,000
Total Development Costs
$ 13,357,600
Construction Loan Cost

Third-Party Fees (Appraisal,
Environmental, Survey, Title, Attorney)
563,236
46,000
Closing Expenses (Perm)
706,536
LIHTC Fees (Application & Monitoring)
5,000
Uses of Funds
Total Development Cost
Taylor Community
$ 15,178,372
44
Proforma Overview
Year 1
Year 2
$/Unit
Revenue
Gross Potential Income (Residential)
Vacancy Loss
Bad Debt Write Off
Leasing Credits (UFC)
Total EGI
Other Income
Move-in Fees
Laundry Income
Late/NFS Income
Pet Income
Collection Revenues
Termination Revenue
Total Other Income
Total Revenue
Operating Expenses
Management Fee
Marketing
Payroll
Administrative
Utilities
Operating & Maintenance
Total Operating Expenses
Fixed Expenses
Real Estate Taxes
Insurance
Total Fixed Expenses
Total Expenses
$8,544
($427)
($85)
($171)
$7,860
$871,488
($43,574)
($8,715)
($17,430)
$801,769
$8,715
($436)
($87)
($174)
$8,018
$888,918
($44,446)
($8,889)
($17,778)
$817,804
$8,889
($444)
($89)
($178)
$8,178
$0
$9,000
$0
$1,000
$0
$0
$10,000
$0
$90
$0
$10
$0
$0
$100
$0
$9,180
$0
$1,020
$1,020
$0
$11,220
$0
$91.80
$0
$10
$10
$0
$112
$0
$9,364
$0
$1,040
$1,030
$0
$11,434
$0
$93.64
$0
$10
$10
$0
$114
$796,048
$7,960
$812,989
$8,130
$829,239
$8,292
($39,802)
($11,941)
($200,000)
($35,000)
($123,600)
$(50,000)
($398)
($119)
($2,000)
($350)
($1,236)
($500)
($40,996)
($12,299)
($206,000)
($36,050)
($127,308)
($51,500)
($410)
($123)
($2,060)
($361)
($1,273)
($515)
($42,226)
($12,668)
($212,180)
($37,132)
($131,127)
($53,045)
($422)
($127)
($2,122)
($371)
($1,311)
($530)
($460,343)
($4,603)
($474,153)
($4,742)
($488,378)
($4,884)
($1,200)
($15,000)
($16,200)
($476,543)
($12)
($150)
($162)
($4,765)
($1,200)
($15,450)
($16,650)
($490,803)
($12)
($155)
($167)
($4,908)
($1,200)
($15,914)
($17,114)
($505,492)
($12)
($159)
($171)
($5,055)
59.86%
Replacement Reserves
Replacement Reserve
Replacement Reserve Reimbursement
Replacement Reserve (Net)
Cash Flow Before Debt Service
Capital Expenditures
Replacement Carpet
Replacement Floors
Replacement Drapes/Blinds/Doors/Windows
Replacement Refrigerator
Replacement Stove/Microwaves
Replacement Dishwasher
Brick and Foundation Repairs
Misc Interior Upgrades Repl-Drywall
Counter Tops/Cabinets
TOTAL Capital Expenditures
$/Unit
$854,400
($42,720)
($8,544)
($17,088)
$786,048.00
Expense Ratio
Net Operating Income
Year 3
$/Unit
60.37%
60.96%
$319,505
$3,195
$322,186
$3,222
$323,747
$3,237
($50,000)
$0
($50,000)
$269,505
($500)
$0
($500)
$2,695
($50,000)
$0
($50,000)
$272,186
($500)
$0
($500)
$2,721.86
($50,000)
$12,550
($37,450)
$273,747
($500)
$126
($375)
$2,737
0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$12,000
$0
$550
$0
$0
$0
$0
$0
$0
($12,550)
$120
$0
$6
$0
$0
$0
$0
$0
$0
($126)
Total Partnership Expenses (Audit)
($10,000)
($100)
($10,000)
($100)
($10,000)
($100)
Annual Debt Service
($228,966)
($2,290)
($228,966)
($2,290)
($228,966)
($2,290)
$305
$33,219
$332
$34,781
1.17
Debt Service Coverage Ration (DSCR)
$30,538
Net Cash Flow
Taylor Community
1.18
1.19
$348
45
Project Timeline
December 2014 Preliminary Meeting with Planning Department
January 2015
Jan. 9th Submit Site Plan
Jan. 20th ARC Meeting Administrative Review
February 2015
Feb. 4th Planning Commission
Feb. 25th Zoning Board of Appeals
March 2015
Submit to MSHDA for April 1st Funding round
Taylor Community
46
Taylor Community
The Mission Begins Now
Taylor Community
47

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John D Dingell, Jr.

The Opportunity: Why Now Is the Right Time

John D Dingell, Jr. Veterans Village

Veterans feel Lost in the Cracks

Affordable Options is Biggest Barrier

Finding Housing is a Long Process

It Starts with a Place to Call Home

Significant Investments Underway

The Midwest is Investing

Need Served through LIHTC Funds

54,937 veterans (Milwaukee

59,214 veterans (Marion

110,566 veterans (Wayne County)

75,000 Square Feet

106,000 Square Feet

72,665 Square Feet

48,724 Square Feet

62,259 Square Feet

Veteran Residents & VA

Center for Veterans Issues

HUD-VASH & ProjectBased Vouchers

HUD-VASH & ProjectBased Vouchers (30

HUD-VASH (17 units) &

$7M HOME Funds

Success Leads to Future Phases

Silver Star Phase II

110,000 Square Feet

Veteran Residents & VA

Permanent Supportive Housing

Reduced health care and taxpayer service costs: Average

The Journey Home: How to Open Doors to Vets

John D Dingell, Jr. Veterans Village

Create a Link from VA Medical Center

Cast a Wide Net for Eligible Residents

An individual or family with a primary nighttime residence that is a public or

An individual or family living in a supervised publicly or privately operated

An individual who is exiting an institution where he or she resided for 90 days or

Cast a Wide Net for Eligible Residents

Ability to independently meet personal care needs;

Economic self-sufficiency (capacity for sustained and successful functioning in

Use of language (ability to effectively understand, be understood and handle

Instrumental living skills (managing money, getting around in the community,

Self-direction (making decisions/choices about ones day-to-day activities and

The person is a recipient of SSI/SSDI.

Distinguished Veterans Live Inside

Celebrate Vets who Served at Entry

Supportive Partner from Day One

A Fully Furnished Apartment Home

Assist their Stay with Vouchers

Start Veterans Off with the Essentials

Built-In Efficiency Reduces Burden

Door-to-Door Transportation Service

Access to Community Resources

Revitalize Veterans Sense of Purpose

John D Dingell, Jr. Veterans Village

Changing Taylor Together

Integrated within Villages of Taylor

Affordable Senior Housing

Needs-Based Phased Approach

April 1st, 2015 MSHDA 9% LIHTC Round

Needs-Based Phased Approach

2016 MSHDA 9% LIHTC Round

Needs-Based Phased Approach

2017 MSHDA 9% LIHTC Round