HomeMy WebLinkAbout7.1 Attach MercyHousCalifMercy Housing California RECEIVED
~1~¥ ~ ~ 2_.002.
D'~ Proposal to: DLIBLIN PLANNING
~ Develop and Operate
r'- ~' -'.--:,' ...... "~- .._ _ __Affordable___.__Senior
.~. -" Housing
May' 24,"2002
U er cyH ousin g Californi
a
MERCY HOUSING SYSTEM
t038 Howard s~reet
San Francisco,
415.553.6377
Mercy Housing California
MERCY HOUSING SYSTEM
May 24, 2002
Julia Abdala
Housing Specialist
City of Dublin
Community Development Department
100 Civic Plaza
Dublin, CA 94568
Re: Dublin SeniOr Housing
Dear Ms. Abdala
We are pleased to submit our proposal in response to the City of Dublin's Request for Proposal
to develop senior housing in downtown Dublin.
Mercy Housing California (MHC) proposes to develop and operate Dublin Senior Housing, a
development of 44 units of affordable apartments for seniors 62 years of age and better. All of
the units will be one bedroom apartments affordable to households at 40% of Area Median
Income (AMI). At this level, the rents would be $559 per month. In an area in which the
median rent is between $1035 and $1356 per month, Dublin Senior Housing provides an
affordable option for one and two person senior households with very low incomes. This
population is in desperate need of affordable housing at this price, as evidenced by the two and
three year waiting lists at affordable senior communities in. the Tri Valley area and the lack of
housing costing $500-$749 per month.
Dublin Senior Housing is proposed as a four story, Type V, one hour wood frame construction
with some tuck under parking, and on grade landscaping to visually connect with the Dublin
SeniOr Center. Each of the units will be 600 square feet and accessible, and the development
will include a community room, on-site laundry, and property management offices.
The proposed development assumes a parking ratio of .5 spaces Per unit, a ratio that is' supported
by the experience of senior properties in the area. Our understanding is that the Senior Center
will require 86 parking spaces to accommodate the occasional outside use of the multi-purpose
community space. We propose that 20+/- of these spaces be identified as over-flow and
accounted for in the off-hours use of the adjacent commercial lot.
Mer~ Housing is co-sponsored by several communities of Catholic women reli~s. .
Mercy Housing California was formed by a merger b~een Mer~ Charities Housing California and Rural California Housing Corporation.
1038 HOWARD STREET · SAN FRANCISCO, CALIFORNIA 94103 · 415.522.5370 · FAX 415.522.5366
Dublin Senior Housing will be financed by 9% tax credit equity proceeds, AHP, a permanent
loan, and City of Dublin financing. We propose, a City of Dublin loan of $1,882,145 to partially
finance the development. This is equivalent to approximately 24% of the total financing,
leveraging non-City sources at a ratio of 1:4. This City loan will allow us to create permanent
affordable housing for very low income seniors who have very limited housing options in the Tri
Valley area.
Mercy Housing California and its property management affiliate, Mercy Services Corporation,
look forward to the opportunity to lend our experience to create permanent affordable housing in
the City of Dublin. Our organization is driven to provide quality, affordable housing that is
service-enriched for the economically poor. Mercy is now one of the largest nonprofit
developers and managers of affordable housing in California, developing and managing over
4,300 units of rental housing with another 2,000 units in process. Our strength and capacity
stems from the widely experienced professionals in our organization, our membership in a
national housing organization, and the depth of our housing portfolio. We thrive on working in
new communities that are interested in creating affordable housing for their constituents.
Please do not hesitate to call Ramie Dare, Housing Developer, at (415) 553-6377 if you require
any additional information.
Thank you for this opportunity.
Sincerely,
Val Agostino
Vice President
DEVELOPMENT NARRATIVE
Dublin SeniOr Housing
Mercy Housing California (MHC) proposes to develop and operate Dublin Senior Housing, a
development of 44 units of affordable apartments for seniors 62 years of age and better. All
of the units will be one bedroom apartments affordable to households at 40% of Area Median
Income (AMI). At this level, the rents would be $559 per month. In an area in which the
median rent is between $1035 and $1356 per month, Dublin Senior Housing provides an
affordable option for one and two person senior households with very Iow incomes. Located
in downtown Dublin adjacent to the Senior Center, Dublin Senior Housing will provide
seniors interested in independent living with quality, affordable housing near neighborhood
serving retail, public transpo.rtation, and recreational opportunities.
Dublin Senior Housing will be managed by Mercy Services Corporation, MHC's property
management affiliate. On-site property management staff will provide property management
and maintenance services as well as coordinate supportive services for the residents.
Depending on the resident population, services that staff may coordinate include:
Computer training and continuing education
· Health, wellness and nutrition programs
Education about resources for seniors, such as prescription drug discounts
· Assisting in obtaining services for living will and/or durable power of attorney
· Art, writing and music programs
The location of Dublin Senior Housing adjacent to the Dublin Senior Center provides an
incredible oppommity to expand the services available to the senior residents and enrich their
lives with the broader community. It is Mercy's hope that synergies between the Dublin
Senior Housing and Dublin Senior Center can be created in programming to benefit the
housing residents and users of the Center.
The architectural design of Dublin Senior Housing will provide the residents with a quality
living space to enjoy. Each of the one bedroom apartments will be approximately 600 square
feet each and will be accessible to people with disabilities. The apartments ~will contain a
kitchen and bathroom. The apartments will be located along a double loaded corridor on the
second, third and fourth floors with 13 apartments on each floor. The ground floor will
consist of an additionhl 6 apartments, the Community Operations Manager and maintenance
offices, and a 600-800 square foot community room that will be available for resident
gatherings. Each floor will be accessible by an elevator. The building will include on-site
laundry facilities.
The location and orientation of Dublin Senior Housing on the site creates a visual connection
to the Dublin Senior Center through a pedestrian pathway and landscaping. The main
entrance to Dublin Senior Housing brings the visitor and resident into the landscaped open
space where there are a minimal number of parked cars, emphasizing the sense of community
and creating a welcoming feeling.
The majority of the parking is located around the perimeter of the site to create opportunities
for landscaped areas adjacent to the buildings and to de-emphasize the presence of
automobiles and pavement as the focal point of the site. Twenty4wo (22) parking spaces
dedicated to the housing (.5 spaces per unit) wraps around the building and is tucked-under
the rear to minimize the visual impact of cars and asphalt. Our understanding is that the
Senior Center will require 86 parking spaces to accommodate the occasional outside use of
the multi-purpose community space. We propose that 20+/- of these spaces be identified as
over-flow and accounted for in the off-hours use of the adjacent commercial lot.
This design was developed 'based on the guidelines and constraints articulated at the site
walkthrough in May 2002. Our team has other ideas for the design that more closely fit the
City's approach to developing the downtown core and could increase the number of housing
units for seniors. We'd be happy to share these additional ideas with the review panel.
Proposed Funding Sources
The financing sources proposed for this development include the following:
$4,919,975 Construction loan
$ 446,443 Permanent loan (hard debt)
$1,882,145 City of Dublin
$ 220,000 AI-IP
$5,399,718 Tax credit equity (9% credits)
$12,868,281. Total Sources'
These sources were identified as the most feasible given the development program. HUD 202
financing was explored in lieu of 9% tax credit equity but the per unit subsidy required of the
City was higher than if 9% tax credits were used. In. eliminating the oPtion of the HUD 202
financing, the de3t.elopment gives up the operating-subsidies of the program and the
opportunity to serve the lowest income seniors. As proposed, Dublin Senior Housing is
financed primarily by 9% tax credit equity prOceeds and reaches an underserved market of
seniors with incomes at 40% AMI.
The source amounts were determined from a combination of the development and operating
budgets. The development budget allowed us to calculate the tax credit equity that could be
generated and the construction loan that would be required to cover construction costs. The-
permanent financing was based on the rental income available to support hard debt. The AHP
total was calculated by multiplying $5,000 per unit by the number of units. The remaining
gap between sources and costs was calculated as the City of Dublin financing for .the
.development.
The schedule for securing these sources is described in more detail in the Conceptual Project
Schedule section. In summary, we coordinated the ~projected funding deadlines with the goal
of starting construction as fast as possible.
Financial contingencies
There are several ways in which MYtC mitigates the risk that financial sources that are
projected will fail. First, MHC typically works closely with the local jurisdiction to identify
the City's goals for the development and ensure that the City is committed to support the
develoPment through predevelopment and construction/permanent financing. Second, MHC
has developed business relationships with key sources of financing, which provide MHC with
favorable financing terms. For example, Wells Fargo Bank offers MHC construction
financing at Prime interest rate and 0.5% loan fee. Cai Fed offers MHC permanent financing
at 1.0% loan fee and favorable interest rates. Additionally, WFB and Cai Fed have created a
partnership to jointly underwrite construction and permanent-financing, complete due
diligence, and create one set of loan documents. This partnership will help reduce the cost of
obtaining and closing financing. MHC has worked with a number of tax credit investors who
are knowledgeable about our long track record in development and property management,
key to obtaining good tax credit investment terms.
Third, MHC works diligently to ensure that a development is financially feasible and can
obtain the financing at the scheduled milestone. MHC's financing proposals are extremely
competitive because of our experience in utilizing tax credit, AHP, HUD 202 and other
sources that are highly sought after. Each of the four MHC offices coordinate with each other
on the timing of funding applications to ensure that the maximum number of developments
will obtain funding.
Development Steps
If MHC is selected as the developer of Dublin Senior Housing, MHC would take the lead on
the following steps:
1) Develop and execute a Memorandum of Understanding between MHC and the City of
Dublin outlining each party's expectations in the development process and product.
2) Refine or revise, if necesSary, the development concept for the senior housing. We
ask the City staff to identify appropriate parties who should be involved in reviewing
the development conceptual design. These parties may include interested city staff
and council members, future housing residents, and relevant members of the Senior
Center project team to assist in the site design coordination.
3) Secure predevelopment financing. The initiation of design work, due diligence, and
other predevelopment activities would require predevelopment funding. MHC would
submit an application for predevelopment financing to the City, if available.
4) Proceed with design work. Throughout the phases of design-- schematic design,.
design development and construction documentsmmilestones would be established.
with the City. These include reviewing the design with interested parties and
completing construction cost estimates. MHC proposes to select a general contractor
to join the team during the schematic design phase to provide construction cost
estimates and advise on cost effective and qUality construction.
5) Obtain land use approvals. In this case, a site design review and conditional use
permit application will be required by the City. To obtain these land use approvals it
will be necessary to complete a CEQA analysis and a parking study to support the
parking variance, both to be completed by the City.
6) Secure development financing. MHC would secure commitments and close a
construction loan, permanent financing, 9% tax credits, City of Dublin financing, and
Affordable Housing Program (AHP) financing.
7) Construct housing and coordinate with senior center construction and/or operation.
MHC would work with the senior center team throughout the development phase on
developing a coordination plan to minimize disruptions and maintain project
schedules. Construction is projected at 12 months to account for the potential need to
phase work around the site because of senior center construction and/or operations.
8) Market and lease up completed units. MHC's property management affiliate, Mercy
Services Corporation (MSC), would complete the marketing, lease up and other start
up activities. MSC would manage the property in the long term, providing full service
property management services.
Senior Center construction schedule
The Senior Center construction could start as early as January 2003 when demolition of the
existing library building begins. However, the construction of Dublin Senior Housing is not
projected to begin until December 2003. If the City can fast-track the Planning Department
approvals process for the Dublin-Senior Housing, the lag time between the construction
schedules can be reduced. Cun'ently, it is projected that Site Design Review and the
Conditional Use Permit process could take up to 5.5 months. (This timeframe is used in the
schedule in this proposal.) It would be ideal to minimize the number of months between the
construction start dates of the Center and the housing to maximize efficiencies during
constructiOn and expedite the use of both the Center and the housing.
Sharing of architects '
MHC has selected Hardison Komatsu Ivelich and Tucker (HKIT) to design Dublin Senior
Housing becaUse of HKIT's long experience in designing senior housing throughout the Bay
Area. HKIT's wide and deep experience in affordable housing, senior communities, and
difficult sites will be crucial to addressing the requirements of this development.
Unfortunately, MHC would not be willing to use the architect that was selected for the Senior
Center. However, MHC and HKIT agree that the-City and the Senior Center architect need to
coordinate closely to create the best design for the site as a whole.
CONCEPTUAL PROJECT SCHEDULE
Please refer to the attached bar chart for a proposed timeline for design, land use approvals,
construction cost estimating and bidding, securing and closing financing, construction and
lease-up timeframes.
Please refer to the previous section titled "Development Steps" for more detailed descriptions
of the action items on the schedule.
Dublin Senior Housing
Projected Development Schedule
O O Ta~<Nan,~ C..~;~,, { Stm~ May? Jun'02 J~'~ IAW~ISep'~ O='02{~v'021~C'02{Jan'031Feb'~IM~3{AF~IMay'031J~'~IJ~'03
, ~..~ ................... ~:-~ ~ ~ ~-~~ ~
....................................................... i .....
,,, ...... .................. .................. "~"' ~ : ::.~.L~ .... . ' : :
~e .......................... :
~o ...... ~ ............................. ~ .... ~.'~,a~ : ': : : : ~
~ .................................. : : : :
~7 ~ ..... ~~~ ............ a~. ~,,,,,~ ~ ~ : : :
2a ..... ~ ~;~ ........................... ~"" ~'~/o~ : : : : :
=,. .................................. ~.~ ~ ~ ~ : :
33 j ~.~ --~ ' : ; : : :
t
SPECIFIC SITE INFORMATION
Please refer to the attached concept drawings prepared by Hardison Komatsu Ivelich and
Tucker Architects. Below is a narrative describing the Dublin Senior Housing design and
program concept according to the City of Dublin's goals for the development.
Creates affordable housing of an architecture and site design to be consistent with the
Senior Center.
Dublin Senior Housing is proposed asa 4-story wood frame sti'ucture that is centrally located
on the two acre site adjacent to the proposed Senior Center. The plan provides for forty-four
(44) one-bedroom unit~ of approximately 600 square feet each, 600-800 square foot
community room, common laundry facilities, manager's office, and space for a maintenance
office/shop. The common spaces and management offices and six apartment units are located
on the ground floor. The second, third and fourth floor consist of 13 apartments each located
along a double loaded corridor and' accessible through an elevator. Each apartment would be
accessible with disabilities.
by
people
The housing is located close to the center of the site to allow for both visual and physical
relationship with the Senior Center. Architecturally the building is broken down into smaller
elements to create a scale that is more residential in feeling. Between the buildings there are
landscaped common areas and minimal parking which serves to tie the two buildings together.
Public spaces are located at grade and across the courtyard from the Senior Center. The main
entrance brings the visitor into the landscaped open space where there are a minimal number
of parked cars emphasizing the sense of community and creating a welcoming feeling.
The majority of the parking is located around the perimeter of the site to create oppommities
for landscaped areas adjacent to the buildings and to de-emphasize the presence of
automobiles and pavement as the focal point of the site. Twenty-two (22) parking spaces
.dedicated to the housing (.5 spaces per unit) wraps around the building and is tucked-under
the rear to minimize the visual impact of cars and asphalt. Our understanding is that the
senior center will require 86 parking spaces to accommodate the occasional outside use of the
multi-purpose community space. We propose that 20+/- of these be identified as over-
spaces
flow and accounted for in the off-hours use of the adjacent commercial lot.
The proposed housing' will be Type V (one hour) wood frame, fully sprinklered construction.
The architectural expression of the housing will create imagery that responds to the vernacular
of the senior center in terms of materials, color and texture.
Project Summary
First Floor 6,700 SF (6) 1-BR
Second Floo 10,800 SF (14) 1-BR
Third Floor 10,800 SF (14) 1-BR
~ -- Fourth Floor 8,900 SF (10) 1-BR
Totals 37,200 SF (44) 1-BR
Proposed
Senior Center Senior Housing 22 stalls (.5/unit)
Senior Center 66 stalls
Total 88 stalls
Lobby
Conceptual Site Plan
0 15 ~0 60
"~70 Line of B
TRUE NORTH ~
Hardison Komatsu IveJich & Tucker j~
Hgt. of Roof.
Building Section
2nd & 3rd Floor Plan 4th Floor Plan
I, [ I I FEET
0 15 30 60
TRUE NORTH
Hardison Komatsu Ivelich & Tucker I[al
Provide innovative use of available space.
The space 'available on the site for the housing, open spaCe and parking posed a challenge.
The limited square footage available and the location in the "back" of the Center motivated
MHC and HI<LIT to identify ways in which Dublin Senior Housing and Senior could
Center'
connect to each other on the site as well as fit in the overall context of the new downtown core
area modifications that are planned. This goal of connecting was determined to be important
from a design standpoint as well as from a community planning perspective, as the residents
of Dublin Senior Housing will be users of the Senior Center and members of the Dublin
community. :
The ways in which our proposed design concept is an innovative use of the available space
include:
· Maximizing the number of housing units and common space in the limited square
footage by building 4 stories. Architecturally, the building is broken down into
smaller elements to create a residential scale.
· Providing sizable, marketable, accessible, one bedroom apartments at 600 square feet
each.
· Connecting the Senior Center and the Dublin Senior Housing through landscaped
common areas and pedestrian path, and minimizing the parking pavement between the
two functions.
· Acknowledging the limited use of automobiles by low income seniors and planning on
a parking ratio of .5 spaces per apartment. A limited amount of tuck under parking is
allowed in wood frame construction. Including some tuck under parking spaces in
Dublin Senior Housing allowed us to convert paved parking areas to landscaping
around the building and connect the Senior Center and housing.
· Containing construction costs by utilizing Type V, one hour, fully sprinklered, woOd
frame construction for the 4 story' building instead of a concrete podium. Several
strategies were used to ensure wood frame construction. Per the Califomia Building
· Code (CBC), the maximum square footage allowed for wood frame construction is
21,000 total square feet at four stories if the building is fUlly sprinklered. The square
footage can be doubled to 42,000 square feet if maximum setbacks on all four sides of
the building are used. Dublin Senior Housing was located in the center of the site;
creating maximum setbacks on all four sides. Additionally, the CBC allows a limited
amount of tuck under parking in wood frame construction buildings before requiting
Type } construction (which is more costly). We limited the amount of tuck under
parking in the building to make wood frame construction feasible.
Maximizes the number of viable housing units and affordability mix.
The proposed housing consists of 44 one-bedroom apartments affordable to households at
40% of area median income. At this level, a one person household earns an annual income of
$20,880 and a two person household earns $23,840 per year. In the proposed development, a
one-bedroom apartment rent is $559 month, including the utility allowance. This rent is
per
extremely affordable to one and two persons households at 40% AMI, in comparison to the
area median rents of $1035 to $1356 per month. Only 1,319 units in the entire Tri-Valley
area are renting at $500 to $749 month. Our proposed mix allows reach
per
affordability
US
to
a population that is underserved, as evidenced by the two to three year-long waiting lists at
senior developments in the Th-Valley area.
-'
Minimize amount of financiql contribution needed from the City of Dublin.
The proposed financing structure maximizes the leveraging of non-City sources and
minimizes the City of Dublin financial contribution. As previously stated, a financing
scenario based on HUD 202. financing was explored, but the city subsidy per unit required
than the in 9% tax credit scenario. The of tax
was
higher
subsidy
required
a
proposed
sources
credit equity, construction and permanent financing jointly underwritten by Cai Fed and Wells
Fargo Bank, and AHP reduce the City of Dublin subsidy to a reasonable cost. The City
subsidy is approximately 24% of the total permanent financing.
MSC is proposing to contain the operating costs through a unique approach to on-site
property management staffing. A Community Operations Manager would serve as the on-site
property manager and support services coordinator. Additionally, a janitorial and
maintenance technician would be assigned to the property. This staffing has worked
effectively in a number of MSC properties. Property management staff of Dublin Senior
Housing would be clustered with the property management staff at two large properties in
Ashland (unincorporated Alameda County), creating management efficiencies and support.
EXPERIENCE OF FIRM
Mercy Housing CalifOrnia
Incorporated in .1988, Mercy Housing Califoi'nia (Mercy) is the California affiliate of a
national nonprofit affordable housing development, management and resident services
organization Mercy Housing, Inc.--headquartered in Denver, Colorado. Since its
incorporation, MHC has become not only one of the largest non-profit affordable housing
in California, but also a leader in an integrated, mission-based approach that
developers
couples the delivery of customized resident and community service enrichments with quality
development, management, and maintenance, all performed by closely held affiliates which
in the mission: "
share
To create and strengthen healthy communities through the provision of quality,
service-ehriched housing for individuals who
affordable,
economically
poor.'
Mercy's substantial growth since incorporation has included mergers with other nonprofit
housing groups which sought affiliation with the Mercy Housing System due to its strength
and capacity, including: the housing development program of Catholic Charities of the
Archdiocese of San Francisco (1993), the Santa Cruz Community Housing Corporation
(1995), the Catholic Real Estate Development Organization, sponsored by the Catholic
Diocese of Oakland (1997) and, most recently, the Rural California 'Housing Corporation
(2000). Largely retaining the portfolio, staff, and capacity of these groups through the
mergers, Mercy's experience and portfolio now stretches back over thirty years to 1971.
Mercy Housing, Inc. (MHI) was founded in 1981 by several orders of Catholic religious
women. Currently there are 11 sponsors of MHI, including:' five regional groups of the
Sisters of Mercy, headquartered in various regions throughout the United States; the Sisters of
St. Joseph of Peace, the Sisters of St. Joseph of Orange, three congregations of Daughters of
Charity, and the Sisters of the Bon Secours. The MI-II organization includes 8 regional
.development corporations which are actively developing new affordable housing in 17 states;
Mercy Services Corporation, a property management and resident services corporation that
currently manages 132 affordable housing properties; and the Mercy Loan Fund, a provider of
below-market-rate financing for affordable housing and community development projects.
A nationally recognized non-profit housing developer, MHC received the 1996 Metropohtan
Life Foundation Award for Excellence in Affordable Housing and the 1995 Non-Profit Sector
Achievement Award of the National Alliance to End Homelessness. Mercy Housing
California employs 35 housing development professionals and support staff in four offices in
San Francisco, Sacramento, Santa Cruz and Orange. The organization has an annual
oPerating budget of $10 million. Mercy's work in multifamily housing development,
community development services, single-family self-help housing development and
professional management services are more fully described below.
Multifamily Housing Development. Counting the work Of its predecessor organizations,
Mercy has completed over 77 multifamily housing with affordable
developments
4,330
housing units in California, including 44 developments (2,417 units) for lower income
families; 21 develOpments (1,277 units) for lower income seniors; and, 12 developments (636
persons special housing (AIDS, homeless, physically
units)
for
lower
income
with
needs
disabled, etc.). Housing developments have been completed in 20 communities in the state.
A list of all properties developed by MHC is included. MHC has another 2000 units of
housing currently in development.
Community Development Services. Mercy provides technical assistance and works with
local governments and Community members throughout California to create and revitalize
healthy communities, including extensive experience in assembl/ng competitive applications
on behalf of smallerjurisdict!on for State HOME and State CDBG funds. In this way, Mercy
assists local communities increase and maintain homeownership rates; create fair housing
opportunities for low income, minority, and disabled households in high-income areas; uplift
blighted urban and suburban neighborhoods through multifamily development and
infrastructure improvement; and upgrade services. In addition to pursuing these activities for
specific multifamily development, MHC assists local communities implement and manage
on-going programs, such as first-time homebuyer and rehabilitation loan programs.
Single Family Self-Help Housing. Pr/madly through the work of one of its predecessor
organizations, Rural California Housing California, Mercy has assisted 2,684 California
families in becoming homeowners. Through the self-help housing program, these new
homeowners helped build their own, affordable homes. A list of all developments sponsored
by Mercy is included.
Attached is a financing description o.f MHC developments completed in 1997-2002.
Mercy Housing California (developer/sponsor) and Mercy Services Corporation (property management agent): New Construction and Rehab Experience
Select projects 1997-2002
Pmiect Name .~,~esa Section 8 #Development Cost (Total) Contractor Name of Source Amount
Natoma Family Housing 165 8th Street San Francisco 94103 $18.956,559.00 James E. Robetts-Obayashi Corp. 2001 Homeless families Mercy Loan Fund $525,100.C.,
2001 Merfitt $6,922,061
2001 Sponsor $1,500,202.0~
AHP $200,000.0C
City of San Francisco $9,119.789,0~
HOPWA via Redevelopment Agency $689.407.0~
$18,956,,~59.0(
Bermuda Garden A;~at~ments 1475 167th Avenue San Lesndro 94578 NA $6,434,202.00 Penc~n ConstrucGon t 999 Tax Credits - 4%; Tax Exempt Bonds Alameda County $2,324,789.0(
Family rental CHFA $2.985.000.0(
Sponso~ $113,397.0(
Mercy Sewioas Coq~oration $19,172.0{
Edison Capital $991.744.0(
CA Tax Credit Allocation Committee $605,608,00
.itOh Street Apartments 1250 Sunnyvale Ave. San Francisco 94134~ $17.738.313.00 Nibbi~Lowe contractors 2000 Tax Credits - 4%; SF MOH HOME, CDSG $7.612,491.00
Family rental Ltd Partner Equity $4,709,482.0C
CHFA $5,175,000.0(~
City of San Francisco $193.240.0C
General Pailner Equity $8,100.0(
Property taxes refund $40.000.0C
~asa Merced 840 West Fifth Street Oxnard 93030 CA16-S94t-016 $3.977,775.00 Benchmark contractors. Inc. 1999 HUD 202 _. Oxnard Redevelopment Agency $720,000.0(
Senior housing U.S. Department of Housing and Urban Development $3.748.900.0(
Casa San Juan 540 Fifth Street Oxnard 93030 NA $8.467.000.00: Benchmark Contractors, Inc. 1997 Tax Credits - 9% St. John Reg(onal Medical Center $880.000.0(
Family rental CA Tax Credil Allocation Committee $5,180,000.0(
.Allied Irish Sank $7.213.084.0(
SAMCO $1.839,000.0(
· - Oxnard Redevelopment Agency $578,000.0~
-- CL Oellums ' .... 644 14~ Street Oakland 94612 NA $0.00 West Bay Builders. Inc. 1998 Tax Credits - 9%; M~KJnney Sec 8 · City of Oakta~d $2,100,000.00
Homeless individuals CA Tax Credit Allocation Committee
" -' ' National Equity Fund $2.000,000.00
...... ' .......... SAMCO $1.t00,000.0(
Eden House A~attmenta 1601 165th Avenue 'San Lesndro 94578 $8.678,412.00 Roberts Obayaahi 1999 HUD 236 :Alameda county $153,6~8-0(
' ' Family rental LIHF Technical Assistance Grant $80,121,0(
...... -' ' ' ........ _ U.S. Department of Housing and Urban DevelOpment $7,151,246.0(
Sectioft 236 Mortgage $1.293,418,0(
Hamilton Apartments 500 21st Street Oakland 9461Z NA $12,100,612.00~West Bay Builders. Inc. 1997 Tax Credits - 9%; McKioney Sec 8 City of Oekland
Homeless individua~s Coweti Foundation
..... Sponso~ S302.900.0(
First Nationwide Bank $895,778.00
- - . Fannie Mae $7,607.852~00
' San Francisco Foundation &
............ California Federal Sank $463,091
- Federal Home Loart E~nk $600,035.0~
HamPton Family Center 1631 Hayes Street San Frandsco 0 $6,234,000.00. Roberts Ol~ayashi 2000 HUD: Mc Kin n~, SHP San Fran(~sco Mayor's Offfiee o1' Housing $4,173,291.0(
McKinne¥ S~pportive Housing Program $400,000.0(
...... Hamilton Family Equity $1
Page 1
| Mercy Housing California (developer/sponsor) and Mercy Services Corporation (property management agent): New Construction and Rehab Experience
Select projects 1997-2002
I1 Pm~;t Name Address Section 8 #Development Cost (Totat~ Co~tmctor Name of Source Amount
5_~ Hedtage Homes 243 Rey Sb'eet San Francisco 94134 $27,379,930.00 Roberts Obayashi 2001 Tax Credits - 9%; AFL-CIO Section 8 ' U.S. Department of Housing and Urban Development $6,270,000.00
6(~ Fatuity rental AFL-CIO $15,000,000.00
I San Francisco Redevelopment Agency $3,750,000.00
AFL-CIO/ARCS Commercial Mot{gage $5.000.000.00
~o.~3 City of San Francisco $2.518,799.00
(~._.~4 CA Tax Credit Allocation Committee $15,167'.731.00
} ~ CA Tax Credit Allocation Committee $11,000,000.00
J-.Zolin King Senior Community 500 Raymond Avenue San Francisco 94134 C-A39-$961-012 $14,691,654.00 James E. Roberts o Obayeshi Corporation 2002 HUD 202 San Francisco Redevelopment Agency $4,500,000.00
{~...~ ............ Senior housing U.S. Department of Housing and Urban Development $7.402,900,00
City of San Francisco Prop A $7.278,754.00
[~![~ Mercy Housing Califomta $10.000.0{3
?._~4edison Place Apartments 1885 Madison street SakersfieM 93307 N~ $5.011.789.00 Wallace & Smith 1997 Tax Credits - 9% Sponsor $64,504.0~
...73 Family rental County of Kem $375.000.0~
City of Bakersfield $550.000.0~
CA Tax Credit Allocation Committee $3.332.285.00
: Allied Irish Bank $3,295.160.00
SAMCO $800.000.0~
Made B. Fraitas 455 Manuel T. Fdetas Parkway San Rafeel 94903 CA39-5921-005 $6,700,000.00 Agrasti & Associates 1997 HUD 202
Matin County Corem Dev Agency $I,082.097.0~
Senior housing U.S. Departmen~ 0f. Hous!ng and Urban Development $5,302.700.0~
Archdiocese $170.000.~
· . Madn Community Foundation $385.000.0~
Marcy Gardens 4077 Filth Aven~e . . ~ar~ Diego 92103 CA33-Q961-001 $3.842,2t3.00 DPR Constnmfion '2002 HUD 811; HOPWA; AHP San Diego Housing Commission $873,894,0~
_ . Housing for People with AIDS U.S, Oeparb~ent of Housing and Urban Development $1,743.500,0~
*City of San Diego $49.500.0~
c?unty oi saw Diego HoPW^ Sl.0~0131~.0~
AHP via Downey Savings $115,000.0(~
sF=.~ l!~OOu~owWay ......... ~o,~om . ~S~3ON^ SS.S2~.000.00'Sa~de.,,C<~,~u~o~. 19~? . Tax.Credits -4%, Tax Exampt BondsCHFA $2.342.~00.0~
Family rental CA Tax Credit Allocation Committee $1.382,195.0~
City of Folsom $1.953.478.0(]
............. 4200 Moa! .C. ?r Ayen~e' ~. Lce ,N~3~I~S . 90016 $3~ 160,296:00- G01den Bee r C°n .structio,'l ..... 1999 Tax. Cra~it~ ~ 9%- Sanwa Bank $1.883,117.0~
Family rental City of Los Angeles $1,050.~),0~
....... Federal Home Loan Sank $64.000.0~
General Pa~ner $163,179.0~
__NotmDamePtaza . . . 347 Dotaree Street _ . ..San__Franc!sco 94110~CA39-5931-01 $10,612.130.~0RobertaObaya~.. _ 1997 HUD202 U.S. Department of Housing and Urban Developmant $6.117.500.0C
Senior housing City of San Frarmisco $4.494,630.0C
............. 4151saqueIDdve SantaCmz . .95073 . ....... $3772~418.00 .............. 2000. . HC.D:T~x.I~ ...... 'SantaCmzRedevelopme~tAgoncy $1,637,239.0~
. .. HOME $952,381.0C
...... Monterey Bay Bank $1,182,798.0C
......... 1175 H0v~erd ~tr~.t ......... San Francisco 94103 .......... _$~. h0~0~.00~ Pactfl_¢_E_l~ m~efs .... 1997 City Financed San Francisco M~yo~s office ~f Community Deveiopm $1
................................... Homeless housing ...... In.in Foundation $1
~.~. ~. nt~tio, senior C?~ur~it~ ........ 3~1E]lla ................... ..S~n~ .Fro. ~:~? ....... 9~'~.O.:~ ~A39~9~ 1 ~01 .... ~ 1.5..976,B12. :0?:??~h!ll~T~ Join Ve{~ tura ......... '~001' .HUO 202 ' Sistars of Presentation ' $200,0°°.0c
i,t= - - ' U.S. Department of and Urban
Noustng
Development
$7,938.7O0
' '~[ ..... ' city o1' San Francisco P~'op A ' $7 808 000 0c
Page 2
Mercy Housing California (developer/sponsor) and Mercy Services Corporation (property management agent): New Construction and Rehab Experience · Select projects 1997-2002
Project Name Address Ci~f Zip Code Section 8 # Development Cost (Total) Conbactor Name of Source Amount
'1' Russell Manor 8200 Bruceville Road Sacramento 95823 CA30-S951-007 $5,10~.000.00 1997 HUD 202 ' U.$, Deparlment of Housing a~d Urben Development $5.105.200.0~
Sacramento Housing & Redevelopment Agency $390,590.00
School House Station 97 School Street Oaly City 94014 NA $8.90~.000.00 James E. Roberts - Obayashi Corporation 1997 *Tax Credits. 9% Allied ldsh Bank $7.600,000.00
Family rental CA Tax Credit Allocation Committee $5,800,000.0~
sen K~t~o County $~00,000.0~
Oaly city R~lopmen! A~ancy $51 '~.500.0~
San M~t~o County $~'34.041.0~
Daty City $156,500.0~
$AMCO $3,100,000.00
~ *he Haven 231 Quant~co Bakersfield 93307 $686,250.00 Stri~land Construcfien 1999 City Financed; HOME City of Bakersfield $286.250.0~
Kern County $400,000.0~
qten Court 2806 Wesi Boulevard. Los Angeles 90016 $2,068,333.00 Golden Bear Construction 1999 Tax Credita - 9% Sanwa Bank $1,348.092.0~
Family rental Federal Home Loan Bank $24,500.0~
General Parb~er $33.487.0~
City of Los Angeles $662.254.0~
~6.6~Tra~sure Island Housing Development Initiative San Francisco 0 $2,600.706.00 Thompso~ Pacific/Fineline Construction 2000 Homeless families San Francisco Prop A $1,977,530.0~
~7.~ VA Grant $250.382.00
~9~8 Dept of Public H~alth $129,964.00
HUD McKinney $212,210.00
Page 3
Mercy Housing Creates and
Strengthens Healthy Communities
Across America
What We Do...
Promote Stability
Living in quality, affordable housing provides the peace of mind that comes
with a safe, secure place where children and elders can flourish and
families develop long-lasting friendships and connections. Stable
neighborhoods also enhance health and self-esteem, both of which are
critical to achievement at school and in the workplace.
Strengthen Communities
By hosting community gatherings and events, Mercy Housing creates
neighborhoods where friendships thrive and neighbors work together to
ensure a community that is productive, attractive and a source of pride.
Provide Opportunities
At our on-site community centers, Mercy Housing residents pursue
educational and professional goals that can lead to increased opportunity,
a better job, and economic independence.
Construct Stepping Stones to Success
Mercy Housing residents have both the knowledge that they are setting
and achieving goals, and the dignity that comes with determining their
own path for the future.
Develop quality, attractive, affordable housing ~ ~,
Mercy Housing develops affordable housing for families, seniors, formerly III
homeless persons, people with HIWAIDS and individuals with chronic
mental illness and physical disabilities. With the help of public and private ~ .~
funding, Mercy Housing builds or rehabilitates housing in response to
community needs, including multi-unit rental apartments, single-family ~1
homes, single-room occupancy apartments, handicap-accessible units, and
self-help housing programs for families ready for homeownership.
Strengthen individual lives and families
Housing alone is not the answer to achieving success. At Mercy Housing
properties, we foster an environment where people feel safe, children
thrive and adults develop the special gifts and talents that help them
attain success.
Manage our properties
On-site management.of our properties includes attention to professional
management practices, ongoing and preventive maintenance and focused
initiatives in response to resident and neighborhood concerns.
Collaborate in communities
Mercy Housing works with other not-for-profit organizations, government
agencies, health-care providers, private businesses and neighborhood
schools to develop community-based approaches that create stable
neighborhoods and healthy communities.
Finance affordable housing developments
The Mercy Loan Fund provides Iow-interest loans to not-for-profit
organizations and public agencies to increase housing opportunities.
Advocate for housing and social justice issues
The staff, residents and friends of Mercy Housing work on initiatives focused
on alleviating poverty through systemic change.
Community Planning
Mercy collaborates with city officials, neighbors and partners to facilitate
the development of quality, affordable housing. By forming advisory
committees, conducting community design meetings, and performing
extensive outreach and education, Mercy is able to ensure that
well-designed multi-family housing is an asset to neighborhoods.
Many localities have contracted with Mercy's Community Development
staff to develop affordable housing strategies, conduct community surveys,
and provide other consulting services.
"It is good to involve the neighborhood in developments of this sort. Many
people have misconceptions of affordable housing. They think of gigantic
blocks of inhumane housing. If involved in the process, they begin to
realize that affordable housing is an asset, not a threat."
- Bob Grinchuck,
San Diego Property Owner
Housing Rehabilitation
Working .with local government, the Community Development staff
manages and oversees the rehabilitation of substandard and unsafe homes
owned or occupied by Iow-income households. Mercy also helps local
jurisdictions access funds for housing rehabilitation.
"It is truly wonderful to'~ee a complete home and heating system that will
help me breathe better and cut my heating costs in half. I am so glad there
are programs out there for people who cannot afford to get their homes
fixed so we can live in a safe and healthy environment."
- Linda L. Trump, Marysville
First-Time Home Buyer Program
Mercy's first-time homebuyer program strengthens neighborhoods by
making home ownership possible for Iow-income families. Using federal
and state financing programs, staff develops financing strategies
that enable eligible Iow-income residents in target neighborhoods the
opportunity to purchase a home of their own°
Community Improvements
Mercy secures financing for public works activities such as improving water
and wastewater facilities in small rural communities. Working with local
governments, the Community Development staff establishes loan
programs to retain and attract new economic development ventures that
address multiple community needs, including job creation, housing, and
local access to goods and services. The Community Development
department also assists in the preservation of historic structures and
develops community child-care and Head Start centers.
/I
Affordable Homeownership
The Mercy Self-Help Housing program offers Iow-income families the
opportunity to build their own home and create a new community.
Groups of eight to ten families work together for one year under the
direction of Mercy Housing construction staff to build their own home from
start to finish. While the sweat equity earned through their many hours of
labor provides the required down payment, the families develop
long-lasting friendships and a strong sense of community. Through
education and training, Mercy Housing staff prepares families to construct,
maintain and own their homes.
How Families ParticiPate
Participating families, aided by a Mercy Loan Specialist, must first qualify for
a mortgage. Counseling is provided to each family to prepare for home
ownership and ensure long-term success. During the building process,
each family commits a minimum of 35 hours of labor each week, often in
addition to a full-time job and school responsibilities. When construction is
complete, families move into their new home with a deep satisfaction
gained from this tremendous accomplishment.
Benefits
The benefits of the Self-Help Housing
Program to families and the
community are significant. Low-
income families realize their dream of
homeownership. Homes are built in
cooperation with neighbors, creating
personal investment in the
neighborhood. The experience of
working together to build their own
homes empowers the community and
creates community leaders. Parents are
proud of their accomplishments and
this pride is reflected in the
accomplishments of their children.
Family Housing Development
DEVELOPMENT LOCATION . DATE UNITS POPULATION SERVED
The Haven Bakersfield 1999 24 Families
Vista Grar~de Dal Cit
Folsom Gardens 1 Folsom 1998 48 Families
Mercy Village Folsom Folsom 1999 81 Fa mi lies
Mont Clair Court
San Felipe Homes Los Angeles 2001 20 Families
Casa San Juan Oxnard 1997 64 Families
St. Francis Terrace Sacramento 1994 48 Families
Lance A artments~ Sacramento 1998 74 Families
~es Sacramento 1999 100 Families
Padre Palou Community_ San Francisco 1992 18 Families
1028 Howa rd Street San Francisco 1994 30 Families
Columbia Park San Francisco 1996 50 Families
Herita eH0mes San Francisco · 2000
i48
Families
Plaza Maria
San Jose 1995 53 Families
Eden HoUSe san Leandro 1999 116 Families
Washin ton Street Cooperative Santa Cruz 1991 8 Families
La Pla a Santa Cruz 1994 8 Families
S camore Street Commons Santa CrUz 1998 60 Families
Osocales COmmuni Santa Cruz 2000 28 Families
Tahoe Valle Townhomes Tahoe 1999 70 Families
Sunset Valley Wheatland 1994 88 Families
TOTAL FAMILY HOUSING UNITS 2,417
Elderly Housing Development
DEVELOPMENT LOCATION DATE UNITS POPULATION SERVED
Diamond Sunrise Diamond S rin s 1987 24 Elderl
Oddfellows Live Oaks 2000 14 Elderl
O
Merc Riverside Manor Red Bluff 1987 24 Elderl '
Bear Mountain San Andreas 1993 20 Elderl
All Hallows Communit San Francisco 1983 45 Elderl~
Monsi nor L ne Communit San Francisco 1989 20 Elderl
Merc Terrace San Francisco 2000 158 Elderl
~:J°hn W. Kin Senior Communit San Francisco,. 2001 91 Elderl ~
iria B. Freitas San Rafael 1997 62 EIderl
TOTAL ELDERLY HOUSING UNITS 1,277
Special Needs Housing Development
DEVELOPMENT LOCATION DATE UNITS POPULATION SER,VED
C.L. Dellums Oakland 1998 70 Homeless Persons
Bisho Francis Quinn Cottages Sacramento 1997 60 Homeless Persons
Richmond Hills San Francisco 1994 25 Homeless Families
Leland House San Francisco 1997 48 Persons with AIDS
Marlton Manor San Francisco 2000 151 Disabled/Elderl
AboveThe Line - - · Santa Cruz 1999 20 Homeless Teens
TOTAL SPECIAL NEEDS HOUSING UNITS 636
TOTAL RENTAL HOUSING UNITS 4,330
TOTAL SELF HELP HOUSING UNITS 2,684
TOTAL OF ALI HOUSING SPONSORED BY MHC 7,014
Mercy Housing California
MERCY HOUSING SYSTEM
Self Help Housing
CITY COUNTY YRS CONSTRUCTED # OF HOMES POPULATION SERVED
Arbuckle Colusa Count 1974-83 56 Fami ies ~
Colusa Colusa County 1974-86 159 Families
Dixon Solano Count 1974-78 38 Families
Elk Grove
969-86 35 Families
Es atto Yolo Count 1968-77 42 Families
EIverta Sacramento Count 1978-79 48 Families
Gait
~ Sacramento Count 1977-2000 191 . Families
Grass Valley Nevada County 1986-87~ 24 Families
,o.e ,les '
Kelseyville Lake County 1973-74 16 Families
Lathro San Joa uin 1979-81 95 Families
Live Oak Sutter Count 1972-97 261 Families
Madison Yolo Count 1970-84 35 Families
M ers El Dorado . 1981-82_ 10 . ,Families
Nevada Cit Nevada Count 1994-95. ....... 13 Families
Placerville El Dorado Coun 1996-2000 102 Families '
Rio Vista Solano Coun 1976-77 18 Fami ies
Scattered Sites Various 1971-72 191 Families
Sheridan Placer Count 1978-79 17 Families
Stockton San Joa uin 1988-95 114 Fami ies
Valle S rin s Calaveras Count .1983-96 . 9 Families
Williams Colusa Count 1978-94 147 Families
Winters Yolo Count 1969-2000 105 Families
Yountville Napa County 1983 8 Families
TOTAL SELF-HELP HOUSING UNITS 2,684
In addition to the affordable housing owned and managed by Mercy Housing California,
MHC has been actively involved in the development and management of many other
sites. The list below highlights our consulting work and properties that we manage for
other not-for-profit groups.
Housing Development Consulting
DEVELOPMENT LOCATION UNITS DEVELOPMENT TYPE PARTNER
Christian Church Homes
Sycamore Place Brentwood 40 Senior Housing ~
Glenn Ellen ' Sacramento 32 Family Housing Sacramento Mutual HOUsing Assc.
Hamilton Fami Center San Francisco 33 Shelter for Homeless Families Hamilton Family Center
Peter Claver Community San Francisco 32 HIV/AIDS Catholic Charities of the Archdiosece of SF
Commun t)f House Santa Cruz 40 Transitional Housing Citizens Committee for the Homeless
ReSidents
Beachcomber Mobile Home Park Coo~ Santa Cruz 73 Family Housing
Delta Plaza Stockton 31 Senior Housing ACLC
Westc~ate Homes Stockton .... _40 __ Family Housincl ACLC
Per~~ 8. _ ~ Housing S~ty Housinq Authority
TOTAL CONSULTING UNITS 850
Property Management Services
DEVELOPMENT LOCATION UNITS DEVELOPMENT TYPE OWNER
Ecolo House San Rafael 11 Environmentall Sensitive Ecolo House, Inc.
TOTAL MANAGED FOR OTHERS 127
Jim Burke Franz CriStiani Lloyd Dean
Chairman & President Retired Partner President & CEO
Jim Burke Ford Arthur Anderson & Company Catholic Healthcare West
Bakersfield, CA San Francisco, CA San Francisco, CA
Alan Rothenberg Gordon Howie Mary Ann Thode
President Managing Director CO0, Northern California
Huret, Rothenberg & Co. Paine Webber Kaiser Permanente
San Francisco, CA San Francisco, CA Oakland, CA
Deborah Chan Larkin Yasmin Tong Suzanne Swift
Director of Public Relations Account Executive Retired Business Owner
SF Hilton and Towers Fannie Mae Tiburon, CA
San Francisco, CA Pasadena, CA
Dorothy Smith Fred Lohse Marilyn Lacey, RSM
Principal Retired Museum Director Director of Immigration,
D. Smith Real Estate McClellan AFB Refugee & Employment
Sacramento, CA Roseville, CA Catholic Charities of
Santa Clara County
San Jose, CA
Mercy SerVices Corporation' ·
As a mission-based provider of affordable housing dedicated to building healthy
communities,, Mercy Housing is committed both to effective management and to ensuring that
residents have access to the services that residents need in order to foster personal growth and
increased independence and self-sufficiency. Therefore, Mercy maintains its own
management affiliate, Mercy Services Corporation (MSC), which ensures sound property
operation and coordinates a wide variety of supportive services and community enrichments
for all of its 132 properties nationally (7,143 units), including 77 sites in California. MSC
manages the rental portfolio developed by Mercy Housing California.
In order to provide effective management, MSC fOcuses on providing on-site staff and off-site
staff of sufficient numbers, training, and quality; rigorously screening of resident applicants,
including home visits and background checks; maintaining impeccable interior and exterior
maintenance and uPkeep standards; and strictly enforcing an array of leasing documents,
including parking agreements specifying the number of vehicles owned and the limitation of
occupancy to household members who have signed the lease.
Services, which are tailored to the specific needs of the families in residence, are provided
through relationships with local service providers or directly by MSC. Mercy serves diverse
communities, and services delivered differ from one development to the next, but may inclfide
GED and ESL programs to assist those with low levels of educational attainment, after-school
and other childcare and child enrichment programs, or ongoing counseling and assistance for
residents who experience chronic mental illness or substance misuse. In all cases, the services
are developed out of needs expressed by the residents and are coordinated with their input and
assistance.
In addition to property management services, MSC also has a Community and Resident
Initiatives division in which Mercy Services staff work with residents to help address their
needs, build upon their strengths, and realize their dreams. Each Mercy Housing development
.typically has a Community and Resident Initiatives Coordinator on staff. Through
Community and Resident Initiatives, many exciting and inspired efforts have taken place at
properties for senior citizens, including:
~' Education about resources fOr seniors, such gs discounts on prescription drugs
~' Computer Training
> Nutrition and other Health and Well Being programs
> Creative Writing, Poetry, Dancing and Music Classes
Experienced
Mercy Services Corporation has twelve years of experience and manages
over 4,000 affordable housing units in California.
Professional
MSC hires professionally trained staff that live and work on-site, providing a
24-hour presence in the community. The entire management team is
committed to the success of the property and the quality of life in the
neighborhood, and is responsible for the appearance and maintenance of
the buildings and grounds. These highly competent teams are also
responsible for monitoring all the regulatory agreements associated with
each property and ensuring that all financial obligations are met.
Dedicated
Mercy's properties are designed to serve as life-long assets to the
community. MSC provides responsive attention to on-going and
preventive maintenance to protect these long-term investments. From
fixing a leaking faucet to repainting a building, MSC ensures that each of
the communities it manages is beautifully maintained.
Caring
The Community and Resident initiatives department of Mercy Services
offers residents opportunities to enhance education, acquire job skills,
improve career opportunities, strengthen families and build healthy
communities. After-school tutoring programs, computer learning centers,
adult education, arts programs, job training, health initiatives, English
language and homeownership classes are just some of the programs
offered by Mercy Services.
What Makes Mercy Services
Stand Out?
· A commitment to quality
· Careful resident screening that ensures a stable resident community
· Highly professional well trained staff who reflect the diversity of the
communities they serve
· A collaborative spirit that builds on the assets of the community
· Well-designed, meticulously maintained buildings that serve as
neighborhood anchors
Careful asset management that ensures the long term viability of
Mercy properties
·Careful consideration and respect for the needs of residents,
neighbors, and partners
/I
Community Organizing
Through individual leadership training and workshops, resident organizers
create neighborhood associations that arrange community gatherings,
neighborhood watch groups, exercise classes, and support groups. Resident
leaders also identify pressing needs in the community and organize to
bring services such as healthcare, crime prevention, and improved
educational opportunities and other resources to their neighborhoods.
"At Mercy Housing we do so much more than build buildings. Through our
Community Organizing program Mercy works to make the neighborhood
a better place to live, not just for our residents, but for everyone. For
example, resident leaders initiated an adopt-a-block clean up program,
improved policing, and started great youth programs in the Ashland
Neighborhood of Alameda County."
Jodi Reid, Special Projects Coordinator,
Mercy Services Corporation
Bridging the Digital Divide
Community Technology Centers, active in twenty Mercy buildings, provide
residents with vital access to computers and technology. From navigating
the Internet to learning basic computer programs, residents use these
centers to stay connected and competitive in an ever-changing world.
Youth Programs
Mercy offers comprehensive youth programs designed to help improve
academic performance, develop leadership skills, foster creative thinking
and problem solving, and encourage young people to broaden their
participation in the community.
"It's fun playing games outside, and getting bonus points for doing math in
the computer lab. If we didn't have the program, we would not have any-
thing to do but sit in the house and watch TV."
- Johnishia Williams, age 11,
The Haven, Bakersfield
mil
Working with residents and local agencies,
Mercy creates and supports programs that
assist residents in finding and retaining jobs,
creating businesses, and developing personal
savings accounts with matching funds for
education, home ownership or business
development.
Health & Wellness
From complimentary food and vegetable
delivery to visiting nurse programs, Mercy
works with local partners to supplement
nutrition and provide our residents with
desperately needed access to healthcare.
Aging in Place
Me~:y owns and manages
21 properties that serve
Iow-income elderly people. Each
property offers services designed to
help residents live independently
and comfortably for as long as
possible. From visiting nurses to the
Senior Prom, from access to
computers to drumming and
weaving classes, Mercy's CRI
for the elderly encourage
programs
creative aging and address the
needs of the elderly in a holistic
fashion.
Arts
Mercy offers a variety of writing and arts
programs designed to improve academic
performance and creative thinking in youth
and celebrate the diverse talents of adults.
Through creative writing, expressive arts,
mural development, and music and dance
classes, Mercy provides opportunities for
residents to explore and experience their
talents.
Description of five recent affordable housinff developments
Five senior housing developments completed by Mercy Housing Cali£omia and managed by
Mercy Services Corporation are featured in this section.
Mission Bay Senior Community, San Francisco 138 units In development
This property is in design and cannot be toured. However, HKIT and MHC would be happy
to provide you with more information about it.
Presentation Senior Comm 93 units Completed 2001
301 Ellis Street, San Francisco. For a tour, please contact Jose Vega, Property Manager, at
415-921-2390 or Yveg~i@MercyHousing.org
Maria B. Freitas, San Rafael 62 units Completed 1997
455 Manuel T. Freitas Parkway, San Rafael. For a tour, please contact Jacquie Hoffman,
Property Manager at 415-479-7581 or Jhoffrnan~mercyhousing.org
Oceana Terrace, Pacifica 42 units Completed 1995
903 Oceana Blvd, Pacifica. For ~l tour, please contact Judy Cannon, Property .Manager, - at
650-359-6161 or Jcannon~MercyHousing.org
.
St. Andrew Community, Daly City $0 units Completed 1992
2070 Sullivan Avenue, Daly City. For a tour, please contact Judy Cannon, Property Mm~ager,
at 650-359-6161 or Jcannon~MercyHousing. org
7
MISSION BAY SENIOR COMMUNITY
. A MIXED USE DEVELOPMENT for
VERY LOW INCOME AND FRAIl. ELDERS
THE MISSION BAY SENIOR COMMUNITY (MBSC) developmem is a proposed new construction, mixed-use
development to be located at Block N3A, Parcel 1 of the Mission Bay North Redevelopment Project Area.
The proposed development includes the following components:
138 1-bedroom/l-bath apartments for very Iow income elderly persons (age 62 or better)
Adult Day Health Center
San Francisco Public Library's Mission Bay Branch
Office space for nonprofit agencies (approx 25,000 sq ft)
· Comer retail space (approx. 4,000 sq fi)
· Community-serving meeting hall (to seat approx 100 persons)
The MBSC development site faces Mission Creek and fronts onto Fourth and Berry Streets. It is located one
block to the west of the new home of the San Francisco Giants, Pacific Bell Park. The.area is r~ch with public
transportation options which will be further enhanced by the addition of a new municipal light-rail line which
is planned to nm along Fourth Street past the site. New residential construction in the Mission Bay North
Project Area is planned for up to 2,655 units, including 255 affordable housing units. Other uses planned for
the area include 350,000 sq ft of commercial and entertainment uses plus 150,000 sq fi of retail uses.
The MBSC development is a collaboration between Mercy Housing California (a local, nonprofit affordable
housing organization), North and South of Market Adult Day Health Center (a local provider of health care
and social opportunities for disabled adults and eiders), the San Francisco Redevelopment Agency, the SF
Department of Public Health and the SF Mayor's Office of Community Development.
RENTS, AMENITIES AND SERVICES
As currently planned, the majority of residents will pay 30% of their income for rent, including utilities.
Apartments will be modestly-sized (approx 500-600 sq ft), one-bedroom apartments and will include fully
furnished kitchens. All apartments will be handicap accessible. Residents will have use of on-site laundry
facilities, lounges on each floor and other community rooms. On-site management, including 24-hour desk
coverage is planned.
A significant support service plan is being developed to enable approximately 50 frail elders to live at the
Mission Bay Senior community as an alternative to higher leVel of care facilities such as Laguna Honda.
The key component of the support services plan is the provision of an on-site Adult Day Health Center.
ADHC serVices include: skilled nursing, OccupatiOnal and physical therapy and a meals program. It is
anticipated that the ADHC w/Il also serve seniors in the community at-large.
MISSION BAY SENIOR COMMUNITY
DEVELOPMENT BUDGET
Per Unit Percent Total
SOURCES OF FUNDS
Tax exempt bond permanent financing $82,608 35% $11,400,000
San Francisco Redevelopment Agency $75,565 32% $10,428,024
Low Income Housing Tax Credit Proceeds $73,668 31% $10,166,196
Affordable Housing Program $4,529 2% $625,000
Owner Equi _ty $507 0% $70,000
Total Sources $236.882 100% $32.689.72tl
vs S
Site Acquisition $0 0% $0 ...
Construction Expenses $190,750 81% $26,323,547
Development ("SOft'') Costs $46,132 t 9% $6,366,173
Total Uses ~ 100%
The bond financing is hard debt with level payments. The San Francisco Redevelopment Agency loan is
repaid through residual receipts (cash flow.) The Affordable Housing Program loan repayment is deferred for
30 years.
· PRESENTATION SENIOR COMMUNITY
301 Ellis Street, San Francisco
Mercy Housing California (MHC), in collaboration with North & South of Market Adult Day
Health, the Sisters of the Presentation, Planning for Elders in the Central City and the Board of
Directors of Presentation Senior Housing Community have sponsored and developed
Presentation Senior Community located at the Southwest comer of Taylor and Ellis Streets in San
Francisco. PreSentation Senior Community is a neighborhood-serving resource that integrates
affordable housing for frail elders with on-site adult day health services and a community
performing arts space.
Elders have the option to live independently longer due to the convenient access to intensive
Services provided bY the adult day health center On the ground floor of the complex. The six
story, 73,000 square foot building is comprised of 93 unitS including 61 studio, apartments, 31
one-bedroom units and a two-bedroom resident manager unit. There are 60 units with a frail
elder marketing preference that are served by the 5,000 square foot adult day health center
Operated by North South of Market Adult Day Health. Included in the complex is a 2,000
square foo~ performing arts space operated by EXIT Theater. The theater space will also be
available to residents of the housing for daytime activities and programs. The developmem
opened in April of 2001.
PRESENTATION SENIOR COMMUNITY
DEVELOPMENT BUDGET
Per Unit Percent Total
SOURCES OF FUNDS
U.S. Department of Housing and Urban Development $85,362 50% $7,938,700
San Francisco Mayor's Office of Housing $83,957 50% $7,808,000
Total Sources $169,319 100% $15.746.700
USES OF FUNDS
Site Acquisition $16,666 10% $1,550,000
Construction Expenses $130,903 77% $12,174,000
Development ("Soft") Costs $21,750 13% $2,022,700
Total Uses $169,319 100% $15,746,700
Construction and permanent financing was provided by a $7.9 million dollar Capital Advance
from the U.S. Department of Housing and Urban Development under the Section 202 Program
and a $7.8 million deferred loan from the City and County of San Francisco through the Mayor's
Office of Housing.
A $1.57 million Project Rental Assistance Contract (PRAC) provided by the U.S. Department of
Housing and Urban Development subsidizes the operations of the housing assuring that all units
will be affordable to sen/ors earning 50% or below of the area median income. Residents pay
rent that equals 30% of their income while the subsidy from the PRAC will cover all remaining
operating expenses.
MARIA B. FREITAS SENIOR COMMUNITY
455 Manuel T. Freitas Parkway, San Rafael
This subsidized senior housing development includes 61 one-bedroom apartments for very-low
income seniors, plus a two-bedroom manager's unit. Each apartment is complete with its own
kitchen, bathroom, living-dining room, and bedroom. All units are handicap access~te. Completed
in 1997, the building is primarily a two-story, wood-frame structure with stucco exterior and
composition sh/ngle roof. The two-story port/on faces the open space of St. Isabella Church and is
designed to compliment the single family residential district. The building steps down at the edges
to one story where scale and setbacks are similar to those of the neighboring single family homes.
Three heritage trees - two palms and a monkey puzzle tree, will remain on the site. New
landscaping will provide additional privacy for residents and neighbors alike.
The project site is the eastern portion of the St. Isabella church property in the Terra Linda
neighborhood of San Rafael, California. The site is within walking distance of neighborhood
serving retail uses such as grocery markets, post office, and cafes. Also within walking distance are
fixed route public transit lines with express service to San Francisco as well as local service. The
site is the location of the former Manual and Maria B. Freitas home.
The development is available for seniors (age 62 and over) whose income is less than 50% of
the average for Marin County. Rents will be based on a sliding-scale with residents paying only
30% of their income for rent.
The project is intended to serve elderly persons who can live independently.
MARIA B. FREITAS SENIOR COMMUNITY
DEVELOPMENT BUDGET
Per Unit Percent Total
so c s
U.S. Department of Housing and Urban Development $85,527 76.4 % $5,302,700
Matin County Community Development Agency 17,453 15.6 % 1,082,097
Mafia Community Foundation 6,210 5.5% 385,000
Archdiocese of San Francisco 2,742 2.4 % 170.,.000.
Total Sources $111,932 100.0% $6,939,797
USES OF FUNDS
Site Acquisition $12,532 11.2% $770,000
Construction Expenses 74,024 66.1% 4,589,516
Development ("Soft") Costs 25,376 22.7% 1,573,281
Total Uses $111~932 100% $6,705,,335
[--
OCEANA TERRACE
903 Oceana Blvd., Pacifica
OC~:A~A TER~CE provides 42 one-bedroom apartments for very low income seniors in a
stunning setting in Pacifica. The property is sited on a hill overlooking the ocean and
incorporates private decks and patios, lounges on each floor, community activity rooms, on-site
laundry, and skylighting on the top floor. Rents are sliding scale based on 30% of the tenant
income. Oceana Terrace was developed through a collaboration of Mercy Housing California,
Catholic Charities of the Archdiocese of San Francisco, and Good Shepherd Catholic Church.
The property is managed by Mercy Services Corporation. The development opened in
September 1995.
DEVELOPMENT BUDGET
SOURCES OF FUNDS
U.S. Department of Housing and Urban Development $81,926 82% $3,440,900
County of San Mateo $14,762 15% $620,000
City of Pacifica fee waivers $3,622 4 % $152,118
$1007310 100% $4,2137018
Total
USES OF FUNDS
Site Acquisition $ 9,524 9% $400,000
Construction Expenses $71294 71% $2,994,366
Development ("Soft") Costs $19,492 19% $818,682
Total Uses $1007310 100% $472137018
ST. ANDREW SENIOR COMMUNITY
2070 Sullivan Avenue, Daly City
ST. ANDREW COMMUNITY is a two story, 50 unit apartment building for very low-income
seniors (62 years old and better) and physically handicapped and disabled persons. Completed
in 1992, the project includes 38 one bedroom tm/ts and 12 efficiency units, with a community
room and warming kitchen On the second floor. Although all of the 50 units are handicapped
adaptable, six of the units are fully handicapped accessible with specialized features including
handicapped accessible shower stalls, adjustable counters and removable cabinets. All of the
units have an emergency call system, which are monitored 24 hours a day.
The HUD section 202 funding includes Section 8 rent subsidies, which ensures that tenants wilt
pay no more that 30% of their income in rent. This provides for tree affordability to very low
income seniors and disabled persons.
DEVELOPMENT BUDGET
Per Unit Percent Total
SOURCES OF FUNDs
U.S. Department of Housing and Urban Development $60,064 74% $3,003,200
State of California Rental Housing Construction Loan Program $11,622 14% $581,111
County of San Marco CDBG $3,000 3% $150,000
City of Daly City CDBG $6,400 8% $320,11~
Total Sources $8L,086 ltl0_% .e~t-or~t-al~
References for Mercy Housing California
Art Evans
President
AF Evans Development COmpany
1000 Broadway, Suite 450
Oakland, CA 94607
Tel: 510-891-9400
AFE is a for-profit development company active in the Bay Area. AFE and MHC have
collaborated and joint ventured on a number of affordable housing dex~elopments in San
Francisco;
Roy Bateman ..
Community Development Coordinator
Matin County Community Development Agency
3501 Civic Center Dr, Rm 413
San Rafael CA 94903-4157
Tel: (415) 499-6698
Roy financed the development of Maria B. Freitas CommUnity, a senior housing development
in San Rafael.
i. i Rich Berger
Asst. Director, Economic and community Development
.r-- City of Daly City
~: 333-90th Street
Daly City, CA 94015
~ 'Tel:' (650) 991-8156
.
Rich financed two affordable mixed-use developments for families and St. Andrew Senior
Community completed by MHC in Daly City.
Joel Lipski
~- San Francisco Mayor's Office of Housing
I i 25 Van Ness Avenue, Suite 600
San Francisco, CA 94102
,-- Tel: (415) 252-3119
Joel oversees the department that has financed numerous MHC affordable developments,
including Presentation Senior Community.
[
OlsOn Lee
Assistant Deputy Executive Director of Housing
San Francisco Redevelopment Agency
770 Golden Gate Avenue, 3fa,Floor -
San Francisco, CA 94102
Tel: (415) 749-2479
Olson and his staff work with MHC developers on a number of MHC developments in San
Francisco, including Mission Bay Senior Community.
Margaret Schrand
President
Community Lending Division, Real Estate Group
Wells Fargo Bank
420 Montgomery Street, 1 lth Flooi'
San Francisco, CA 94104
Tel: (415) 396-0730
Margaret and her staffhave underwritten many construction loans for MHC developments.
Doug Leezer
Senior Vice President
Multifamily Affordable Housing
Cai Fed Banking
201 West Lexington Drive
Glendale, CA 91203
~Tel: (818) 662-2383
Doug and his staff have underWritten many permanent loans for MHC developments.
Development and property management 'staff experience and roles in Dublin Senior
Housing
In order to accomplish its mission of strengthening communities through the provision of
quality, affordable, service-enriched housing, Mercy Housing California and its management'
and resident services affiliate, Mercy Services Corporation, dedicate the appi:opriate level of
staffing to all developments. Typically during the development phase, a Housing Developer
· will be assigned to interface with the local jurisdiction, obtain community input, and manage
the development process. The Project Manager receives supervisory, technical, and
administrative support'from a handful of other Mercy staff, including senior management in
the development and property management departments. As occupancy' of the development
approaches, on-site management and resident services staff will be selected and assigned.
Ramie Dare Role: Project Manager Title: Senior Housing Developer
Ramie brings 9 years of affordable housing development experience, primarily utilizing tax
credit financing. Ramie will take the lead in the development of Dublin Senior Housing.
Barbara Gualco Role: Staff Oversight Title: Senior Housing Developer
Barbara has 15 years of direct affordable housing development experience, including
numerous developments for seniors throughout the Bay Area.
Val /lgostino Role: Staff Oversight Title: Regional VP of Operations
Val brings 18 years of affordable housing experience to her role of providing statewide
'leadership and oversight. Previously the Director of Property Operations in California for
Mercy Services 'CorporatiOn, Val will provide assistance in evaluating management and
financing schemes.
Bob Prettyman Role: Property Management Title: Director of Property Operations
Bob's experience in property management spans 13 years, covering properties of all types
'throughout California. Bob' will provide proPerty management review during the design stage
and .create the property management plan.
~lmy Bayley Role: Community Relations Developer Title: Vice President
Since 1995 Amy has been coordinating the community development and public relations
Process during the development of many of Mercy's developments. She will work in
conjunction with City of Dublin and Mercy project management staff to determine the
the
level of neighborhood association work desired for the Dublin Senior Housing development.
PROFESSIONAL EXPERIENCE
May 1997 to Present Mercy Housing California
Senior Housing Developer
Developer.of affordable rental housing for families, seniors, and people with special
needs utilizlng 4% and 9% tax credits, tax exempt bonds, conventional financing and
rental subsidies. Experienced in all aspects of development, including feasibility study,
contract negotiation, project management, financing and community acceptance planning.
September 1993 to April 1997 CREDO Housing, Inc.
Housing Developer
Developer of affordable rental housing in Oakland, Berkeley and unincorporated
Alameda County totaling $19 million and 273 units. Experience in developing projects
financed by low income housing tax credits, tax exempt bond, cities of Oakland and
Berkeley, Alameda County, HUD and institutional lenders.
EDUCATION
B.A. Degree in Urban Studies, 1991
University of California, Los Angeles
Masters in Public Policy, 1993
John F. Kennedy School of Government, Harvard University
Graduate, 2002
Bank of America Leadership Academy (Development Training Institute)
COMMUNITY INVOLVEMENT -
January 1996 to Present East Bay Housing'Organizations
Co-Chair of EBHO Community Acceptance Strategies Committee to build community
acceptance of affordable housing amongst policymakers and the public. Served on
EBHO Board of Directors from January t996 to February 1997.
September 1995 to Present Californians for Justice
Member of Board of Directors of this statewide organization engaged in community
organizing in low-income communities.
BARBARA GUALCO
PROFESSIONAL EXPERIENCE
'.Mercy Housing California - San Francisco, CA
Project Developer 17, 1993-present
Involved in all aspects of thc housing development process, throughout the State of California; see description
under Catholic Charities.
* Performed as project manager for a 24 unit low-income housing development for families; a 66 unit
adaptive re-use of a landmark building into 66 units of HUD financed housing; a 56 unit low-inCome
housing development for families.
* Conducted extensive feasibility study for the development of a 17-acre site in Santa Barbara for families and
the elderly.
Catholic charities of the Archdiocese of San Francisco
Housing Developer l/I, 1987 - 1993
Involved in all aspects of the housing d~velopment process. Responsibilities include the following:
- · Review o'f sites under consideration for housing development;
, Preparation of financial feasibility and land use analysis;
* Preparation and submission of applications to various lenders
* Presentation of projects in public heatings
, Plan, organize and train local project boards and provide on going support throughout the development
process
* Neighborhood and community work with respect to new developments. Advocacy work.
* Performed as project manager on a 20 ~unit apartment complex and a 50 unit apartment building which aside
from the above outlined responsibilities included providing on-going coordination between architects,
contractors and other members of the development team; monitoring of cash flow for each project and
request and approval of disbursements.
Catholic Charities of San Francisco County~
Housing Intern, 1986-1987.
Assisted the Director of Housing Development in many aspects of non-Profit housing development.
San Francisco Department of City Planning;
'Planning Intern, 1985.
Researched and assisted in field surveys of buildings for historic preservation effort of Van'Ness Avenue.
corridor in San Francisco.
Western Real Estate News; San'Francisco, CA;
Associate Editor, 1980 - 1984
Responsible for commercial, industrial, residential construction and real estate news in Marin, Sonoma, Napa
Counties as well as the Reno-Sparks area of Nevada.
EDUCATIONAL BACKGROUND
MA - University of California Berkeley, Berkeley, CA.
City Planning, Land Use Planning Concentration 1987
BA - San Francisco State University, San Francisco, CA Economics, Phi Beta Kappa, 1983
VALERIE AGOSTINO
PROFESSIONAL EXPERIENCE
July 2001 to Present Mercy Housing California
Regional Vice-President of OperatiOns
Responsible for the coordination of MHC activities. Serves as lead in community and government relations,
housing development, administration, staff development, and budget oversight; represents the various Mercy
Housing entities that own properties and insure that the work of tVIHC is effectively coordinated with that of
Mercy Services Corporation. In conjunction with the Regional President, works with Boards of Directors and
other regional staff to achieve regional and system goals.
March,-1994 to June 2001 Mercy Services Corporation
Director of Property Operations - CA
Responsible for starting up the California Regional Office of Mercy Services Corporation.' The company's
regional management portfolio included 78 properties of affordable housing, with many properties specifically
planned for residents who have special service needs. Primary responsibilities included property staffplanning,
pre-development and development consultation, budget development, regulatory reporting, and staff and owner
relationships for managed developments in California. Duties included all Regional Property Management
oversight while planning for a period of sustained organizational growth.
1991-1994 The John Stewart Company
Supervisor, Retirement Housing
Responsible for overseeing the operations of housing facilities in the retirement housing division. Duties
included working closely with on-site property admini~qtrators to address complex issues regarding fiscal, plant,
personnel, and program management. Worked closely with owners and regulatory agencies.
1988-1990 Claremont House Retirement' Community
Administrator
Responsible for all aspects of operating a full-service luxury retirement community. Duties included
supervising daily operations; fiscal, plant, and progrm~management and planning. Facility included licensed
RCFE program.
1981-1987 Francis of ASsisi Community
Administrator
On-site administration of a serf-managed residential facility for low-income older 'p~ople and phYSiqally
disabled persons. Duties included fiscal and plant management and planning, administrati°n of Section 8
Program, and supervision of daily operations that included a case management program for frail elders and a
Community Center.
EDUCATION
B~a,. Degree in Sociology, University of Massachusetts, 1974
Postgraduate courses in Gerontology Certificate Program, San Francisco State UniverSity
AFFILIATIONS
Northern California Association of Housing Management Agents (NAHM): National Assisted Housing
Professional Executive
California Association of Homes for the Aging: Chair,. Housing Subcorranittee, 1991, i 992; Housing
Subcommittee, 1987 - present
FranCis of Assisi: Chair of Board of Directors, 1995 - 1999
Non Profit Housing Association of Northern California: Board of Directors, 1999 - present
The Women's Refuge: Board of Directors, 1999 present
ROBERT F. PRETTYMAN
Director of Property Operations, California
PROFESSIONAL EXPERIENCE
May, 1995 to Present Mercy Services Corporation
Director of CA Property Operations (July, 2001 -PresenO
The company's current regional management portfolio includes 78 properties of affordable housing, with
many properties specifically planned for residents who have special service needs. Primary responsibilities
include property staff planning, pre-development and development consultation, budget development,
regulatory reporting, and staff and owner relationships, for managed developments in California.
Associate Director of Property Operations/CA (May, 1998 to June, 2001)
Primary responsibilities include property staff planning, pre-development and development consultation,
budget development, regulatory reporting, supervising Property Supervisors, and assisting the Director of
Property Operations.
Property Supervisor (March, 1995 to May, 1998)
Supervisor for properties managed by Mercy Services Corporation:within the California region.
Responsible for: property lease-up, supervision of on-site managers, maintenance of property, resident
conformity with regulatory/borrowing requirements, site operation and capital budget development,
regulatory reporting.
January, 1991 to March, 1995 John Stewart Company
Property Supervisor (October, 1993 to March 1995)
Supervisor for seven + properties from the main office of the John Stewart Company. Responsibilities
similar to those named above.
Administrator, Mercy Terrace & Mercy Family Plaza (July, 1991 to October, 1993)
Responsible for overall operation of the facilities under the direction of the management company and in
conjunction with the respective Boards of Directors.
Occupancy Consultant (May, 1991 to June, 1991)
Occupancy consultant for two properties. Responsibilities: contact & interview prospective residents and
community referrals; complete necessary forms and home visitations; work with the Housing Authority for
- lease approval mad. rental.agreements.
Administrator, Glenwood Inn (January, 1991 to Aprit, 1991)
Respons~le for overall operation of the facility under the direction oftha management company.
May, 1989 to January, 1991 Claremont House
Assistant Administrator/Director of Communi(F Relations
Under the direction of the Administrator, respons~le for all aspects of marketing and con~-aunity relations;
assist in recruitment of staff and development of policies-and procedures.
EDUCATION
B.A. Philosophy, St. Charles Seminary, Philadelphia, PA, 1978
M. Div. Theology, St. Charles Seminary, Philadelphia, PA, 1982
AFFILIATIONS
Association of Housing Management Agents (AHMA- NCN): Member of Board of Directors, 1998-2001;
President, 2000
Amy Bayley, RSM
PROFESSIONAL EXPERIENCE ' '
January 1995 to Present Mercy Housing California
I/ice President, Community Developer
RespOnsible for the coordination of Mercy Housing California's (MI-IC) community development
activities throughout MHC's region which includes the development of community acceptance plans
with the project developers, new business development with the Director of Multi-Family Housing
and the creation of community advisory groups that serve and help in the development process.
Serves as a lead in community and government relations especially in new jurisdictions not
previously served by MHC.
- Board member of the various MHC's HUD 202 entities that own properties and insure that the work
is effectively coordinated with that of Mercy Services Corporation and the community.
- In conjunction with the Regional President and Regional Vice President, works with MHC's Board
of Directors and other regional staff to achieve regional and system goals.
September 1993 -December 1994 Sabbatical: Travel and Study
August 1971 - August 1993 Mercy High School, Burlingame, CA
Principal
Teacher of English and Religion
College & Academic Counselor
EDUCATION
Russell College, Burlingame, CA ·
University of California Berkeley, CA'
B.A. Degree in Humanities, San Francisco State University, CA
COMMUNITY INVOLVEMENT
Member, Mercy Secondary Education Association, Executive Board 1983-1989-
President, Mercy Secondary Education Association, 1987-89
Member, MercyEducati0n Ministry Committee, 1983-1987 '
Member, St. Mary's Hospital and Medical Center Board of Directom, 1984-1990 .
Member, Music at Kohl Mansion Board of Directors, 1985 - 1998
Member, Burlingame Chamber of Commerce Women's Forum Executive Board, 1990-1993
Guide, Summer European Tours for High School Students, 1979, 1985, 1988, 1989, 1990, 1992, 1994
Member of 15 HUD 202 Corporation Boards throughout California
Board Member, St..John's regional Medical Center, Oxnard
CONSOLII)ATED FINANCIAL STATEMlZNTS AND
,,..* INDEPENDENT AUDITORS' REPORT AND
~ . SUPPLEMENTAL INFORMTION
r'- MER~ HOUSING CAI,!'~ "ORNIA
~ JUNE 30, 2001
Mercy Housing Califomia
INDEPENDENT AUDITORS'. RBPORTS 3
'- CONSOLIDATED FINANCIAL STATEMENT
CONSOLIDATED STATEMENT OF FINANCIAL POSITION' 4
:~ CONSOLIDATED STATEMENT OF ACTIVITIES
AND CHANGES IN NET ASSETS 6
~ CONSOLIDATED STATEMENT OF CASH FLOWS 7
NOTES TO CONSOLIDATED FINANCIAL STATEMENT 8
SUPPLEMENTAL INFORMATION
?
~ CONSOLIDATING FINANCIAL INFORMATION 18
.i
t~,~-
t-"'
Reznick Fedder & $ilverman
Certified PublicAccountants * A Professional Corporation
$607 Glenridge Drive NE · S~te ~00 * Atl~ta, Georgia 30342-4998 · Phone (~4) 847-9~7 · F~ (404) 847-949~
~EP~~ A~O~' ~PORT
Bo=d of ~ectors
M~cy Ho~g CEffo~a
.We ~ve audi~d ~e acco~~g consoli~t~ s~t of ~dal'posifion of M~cy
Ho~g ~ifo~a as of J~e 30,' 2001, ~d ~e related s~tem~ts of acfi~fies ~d c~ges ~ net ass~,
~d c~h flo~ for ~e ye~ ~en ~ded. ~ese f~ei~ s~t~en~ ~e ~e re~onsibili~ of ~e
comp~y's ~ag~ O~ re~onsibili~ is ~ e~ress ~ op~on on ~ese ~cial s~temen~ based
on o~ audit.
We conducted o~ aunt ~ aecor~ee ~ au~g red.ds g~ly aec~ted ~ ~e United
States of ~c~ ~ose s~ r~e ~at we pl~ ~d p~o~ ~e aunt to ob~ re~onable
ass~ce about whe~ ~e ~cial sm~ ~e ~ee of ~t~al ~s~tem~t. ~ a~it ~cludes
exmg, on a test basis, ehd~ee suppo~g ~e mom~ ~d disclos~es E ~e ~cial ~tmenB.
~ aunt also ~cludes assess~g ~e acco~g ~ciples ~ed ~d si~fic~t e~tes ~de by
~ag~ ~ well ~ ev~g ~e ove~ll fin~cial s~t~t pres~mfion. We believe ~at o~ aunt
pro.des a re~omble bas~ for o~ op~on.
h o~ op~on, ~e ~ciaI ~temen~ refe~ to above pre~t fakly, ~ ail ~t~al re~ec~,
· e consolidat~ fmmcial position of M~ey Ho~g ~fo~a ~ of J~e 30, 2001, ~d ~e res~m of im
6~afions ~d i~ c~ flows for ~e y~ ~ ~ded ~'co~o~ ~ ~co~g p~ciples g~ly
aee~ted ~ ~e U~ted States of ~ea.
O~ aunt ~ ~& f~ ~e p~ose of foxing ~ ~on'on ~e b~ic ~ci~ ~m~ ~
as Whole. ~e ~pl~ml ~fi~ is ~es~d f~ p~oses of ad~fion~ ~ysis ~d is not a
r~ed p~ of ~e C~soli&~ ~ci~ ~t~. Such ~o~fion ~s be~ ~bj~ to ~e
au~g.proc~s a~li~ ~ ~e aunt of ~e c~oh~t~ ~mcial ~~ ~ ~' o~ ~o~ ~s
f~ly ~t~ ~ ~1 ~t~ ~ ~ relation W ~e co~oli~d ~ci~ smtem~ ~ ~ a. whole.
Attain, ~m~a
s, 2o0
A~A, GA B~MO~, MD B~DA, MD C~RLO~, NC
~.~8.com
Mercy Housin~ California
Consolidated Statement of Financial Position
June 30, 2001
Assets
Current assets
Cash and cash equivalents $ 6,503,246
Cash, tenant security deposits 388,503
Cash, restricted '- 2,435,378
Accounts receivable and due from affiliates 3,964,962
Grants receivable 7,632,474
Prepaid expenses and other assets 81,066
Total current assets 21,005,629
Property and equipment, net 102,027,107
Other long-term assets
Cash, restricted 5,152,816
Due from affiliates, long-term 558,723
Investments in limited partnerships 481,603
Accrued interest r~eivable, unaffliate 1,745
Notes and interest receivable, affiliate, net 224,323
Predevelopment project costs 790,058
Other assets 84,441
Total other long-term assets 7,293,709
Total ~set~ $ 1'30,326,445
Continued
Mercy HOusing California
-
Consolidated 'Statement of Financial Position (Continued)
June 30, 2001
Liabilities
current liabilities
Accounts payable and due to affiliates '$ 1,706,458
Accrued interest 329,987
Deferred revenue 402,283
Current portion of notes payable 4,036,203
Tenant security deposits 368,237
Miscellaneous current liabilities 2,321,699
Total current liabilities 9,164,867
Long-term liabilities
Accrued interest 667,374'
Notes payable, less current portion 38,656,414
Mercy Loan Fund notes payable 160,875
Due to affiliates 497,647
Deferred revenue 267,039
.Total long-term liabilities 40,249,349
Total liabilities 49,414,216
Net assets
Unrestricted net assets ' 4,840,401
Temporarily restricted net assets 75,109,804
Permanently restricted net assets 962,024.
Total net assets 80,9i2,229
Total liabilities and. net assets $". 130,326,445
See accompanying notes to consolidated financial statements
Mercy Housing California
Consolidated Statement of Cash Flows
Year ended June 30, 2001
Operating activities
Cban~es in net assets $ 3,119,914
Adjustments to reconcile changes in net assets to net cash
provided by operating activities:
(Oaia)/Ioss on investment in limited parmers~ip 23
Depreciation and amortization 3,099,379
Provision for loan losses 14,268
Net chanEes in current assets and liabilities:
Cash, tenant seeur~ deposits (89,195)
Accounts receivable and due fxom affiliates (2,843,376)
Grants receivable 6,513,428
?repaid ex~euses and other asses 103,917
Accrued interest receivable (1,745)
Other assets 298,553
Aeeotmts payable and due to affiliates (3,563,175)
Accrued interest payable 203,712
Deferred revenue ! 61,366
Tenant seeuriW deposits 75,032
MiseeIlaneous current liabilities 2,321,699
Net cash provided by (used in) operating activities 9,413,800
Investing activities
Net clian~e in cash and restricted reserves 7,804,774
Net chan.~:e in loal~ to af~me~q 248,057
Net chan~e in property and e~ui~ment (19,272,853)
Net chan~e in investments in partnerships 309
Net chan~e in notes receivable 356,000
Net change in predevelopment project costs 881,514
Net cash provided by (used in).investing activities (9,982,199)
Financing activities
Procee~ from notes payable 7,199,464
Principal payments on :notes payable (750,068)
Due to a~iates (267,116)
CRhcr chan~cs in net assets (128,808)
Na cash provided by (used in) financ~g acfi~fies 6,053,472
Net incxease (decrease) in c~h and cash e~v~Cn~ 5,485,073
Cash and cash cmfiV~en~ at be..~n,~i,,~ of year _ 1,01.8,I73
C~h and c~h cq~v~cnts at Sd of year $ 6,503,246
C~h p~d for interest . . " $ 2,519,869
Noncash invesfinE and financ~, acfi~es: ' .
Noncash uet assets of mmsfcrmd enfiW $ (1,574,324)
.Property and e~mvment . 1,574,324
Increase in unrestricted net assets ' 1,465,627
Release of temporarily restricted net assets . (1,465,627)
Total noncash investing and 6nsncin~ activities ' $
Sec accompanying notes to consolidated ~na~eial Stat~nents
-7-
Mercy Housing California
NOTES TO CONSOLIDATED FINANCIAL STATEMENTs
June 30, 2001
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Mercy Housing California ("MHC") (formerly known as Mercy/Charities Housing California) is
a 501(c)(3) nonprofit corporation incorporated in 1988 'for the purpose of developing affordable
housing and providing services to low-income families, elderly, handicapped, homeless,
potentially homeless, or otherwise disadvantaged persons in California. /VIHC has been classified
as an entity that is not a private foundation within the meaning Of Section 509(a). IvlHC is a
subsidiary.of Mercy Housing, Inc. ("MI-IF').
MHC and its affiliates receive significant funding from federal, state, and local government subsidies
in various forms, including low-income housing tax credits, low-interest loans, grants, and rent
subsidies for qualifying very low, low, and moderate income tenants.
Principles of Consolidation
The accompanying consolidated financial statements include the accounts oflvlHC and corporations or
investments in limited partnerships in which lvlHC has a controlling interest (the "Company"). All
significant intercompany transactions have been eliminated in consolidation.
The fol!owing entities are included in the consolidated financial statements.of MHC as of and for the
year ended June 30, 2001:
Mercy Housing California
Access to Housing, Inc.
All Hallows Community
Cantebria
' Fairfax Nonprofit Housing Development Corp.
MaeLeav Nonprofit Housing Development Corp.
Maria B. Freitas Senior Housing Corporation
Matin Homes for Independent Living
Marin Homing Corp.
Ecology House
Marlton Manor
John King Senior
. Mercy Gardens
Mercy'~v~de Manor, Inc. . . '
Most Holy Redeemer Senior Housing
Notre Dame Senior Housing Corp.
Mercy Senior Housing Oxnard
Oceana Senior Housing Corporati°n
Presentation Senior Con~mmity
Russell'Manor
. St. Andrew Senior Housing Corp.
Mercy'Housing California
NOTES TO CONSOL[DATED FINANCIAL STATEMENTS
June 30, 2001 '
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (ContinUed)
St. Elizabeth's Housing Corp.
Affordable Housing Initiative ("AI-]T~
Francis of Assisi Community
EH/CC Housing Corporation ("Eden House")
Mercy Properties California
Freedom Blvd. Village
Sycamore Center
Osocales
Leland House
Richmond. Hills
Esparto
The Haven
Belmont
Revenue Recognition
Rental income, principally from short-term leases on apartment units and commercial space, is
recognized as the rentals become due.
MHC reports gifts of cash and other assets as unrestricted revenue tmless they are received with donor
stipulations that limit the use of the donated assets. Gifts with restrictions are reported as restricted
revenue. When a donor restriction expires, that is, when a stipulated time restriction ends or a purpose
restriction is accomplished~ temporarily restricted net assets are reclassified to unrestricted net assets
and reported in the statement of activities as net assets released from restrictions. Gifts or long-liVed
assets with restrictions and gifts of cash or other assets that must be used to acquire long-lived assets
are reported as restricted revenue and are reclassified to unrestricted net assets ratably over the useful
life (typically 27.5 to 40 years) of the related long-lived asset.
Unconditional promises to give are recorded as revenue at estimated net realizable value. Conditional
promises to give are notincluded as revenue until the conditions are substantially'met or unless the
poss~ility that the condition will not be met is remote. Donor-restricted conm~butions whose
restrictions are met in the same reporting period are.reported as unrestricted revenue in the period of
receipt.
Cash and Cash Equivalents -
Cashand caSh equ/valents for the Company include, demand deposits and deposits in pooled funds that
invest in certificates of deposit, treasmy bills and other short-term, Iow-risk instruments. For the
statement of cash flows, all unrestricted inve~hnent instrmnents with original matm'ities of 90 days or
less are considered cash equivalents.
Mercy Housing California
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2001
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A substantial amount of restricted cash is held in the Catholic Health Initiatives ("CHI") investment
program (the "Program"). All investments are professionally managed under the administration of
CHI. Investments held in the Program, represented by pool units invested exclusively in money
market funds, are valued monthly under a custodian accounting system. Investment income from the
Program is distributed to participants based on the earnings per pool unit. The fair value of the assets
held is an allocation of the underlying m~ket value of the assets in the Program based upon po'ol units
held by the participants.
Restricted Cash
Several MHC subsidiaries are required to make monthly deposits for replacement of.project assets,
which are controlled by the Department of Housing and Urban Development ("HUD") or other
financing authorities. These subsidiaries are also required, to make yearly deposits of surplus cash, if
any, to residual receipts accounts. Use of residual receipt funds is contingent upon the prior written
approval of HUD.
Several IVIHC subsidiaries are required to make monthly escrow deposits for taxes and'insurance. The
mortgagee for the subsidiary controls these escrow deposits.
Amounts received by MHC subsidiaries from HUD and other financing authorities for construction of
lOw-income housing projects are included in the 'restricted cash balance.
Property and Equipmeni
Property and equipment have been stated at cost. The provision for depreciation is computed using
the straight-line method based on estimated useful lives of the related assets. Buildings and
improvements are depreciated over 27.5 to 40 years, equipment is depreciated over 3 to 7 years, and
land improvements are depreciated over 15 years.
Allowance for Loan Losses _
The Company maintains an allowance for loans and notes receivable that may not' be ultimately
collected. The balance maintained is based upon prior experience and management's assessment of
the eollectibles of existing 'specific loans. Individual loans are written off against the allowance when
they are deemed uneoIleetible, and increases to the allowance are charged to provision for loan losses.
~ Mercy Housing California
~ NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
'~- June 30, 2001
~ NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
_ Predevelopment Project Costs
The Company incurs costs in connection with properties it is considering for development as well as
costs associated with properties in the initial stages of development. These costs include such items as
market studies, purchase options, environmental study costs, legal and
accounting
costs.
Predevelopment project costs are cspitali~ed and recorded as predevelopment project costs until such
time as the project is either abandoned or becomes an approved project with independent funding
r- sources. Predevelopment project costs are charged to operations at the 'time a potential project is no
[ longer considered desirable or feasible. Predevelopment project costs related to projects that .are
ultimately developed are recorded as receivables.
Investment in Limited Partnerships
MHC and its. subsidiaries are partners, in various limited partnerships, 'which own and operate projects
for low-income and moderate-income families. The partnership interests, generally 0.1 percent to 1.0
percent general partner interests, are accounted for using the equity method. MHC continues to apply
the equity method' when its share of the limited partnerships' losses reduces the investment in and
[- advances to the investee to zero,' as it has guaranteed obligations of the limited partnerships.
MHC evaluates its investments in limited partnerships for carrying values that may not be recoverable.
,- The balance in specific partnerships is limited to the amount evaluated by management to be
recoverable.
[- Net Assets
unrestricted net assets are those that have no external restrictions. Temporarily restricted net assets.
.-- are those net assets .for which use is limited by donors to.. a specific time period and/or Purpose.
~ ' ' Permanently restricted net assets are those net assets for whi6h use is restricted in perpetuity by
.-. . donors.
During fiscal 2001, the' control over the Board.of ECology House chug.ed. As a resuk, its 'OPerations
~ ' and net assets are no longer included in the consolidated financial statements. The reduction in net
. . assc~ of $1,703,132 resulted primarily from the exclusion of Ecology House.
?
.~ Developer and ConsUl6nE Fees
['- DeVeloper and consulting fees are recognized'at the completion date of the Construction projects as
evidenced by the certificate of occupancy. These agreements were executed in conjunction with the
construction of'projects.
M~rcy Housing California
NOTES TO coNsoLIDATED FINANCIAL STATEMENTS
Sun¢ 30, 2001
NOTE A- SUMMAP~Y OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Any payments received during the construction period are recorded as deferred revenue until project
completion. Amounts not received by the completion date are recorded as a receivable.
Tenant Subsidy Payments
A portion of the rental income is in th~ form of subsidy payments from the U.S. Department of
Housing and Urban Development ("I-HJD') under Section 8 of the National.Housing Act Tenants are
subsidized based upon their level of income. Rent increases require HUD approval.
Income Taxes
MHC and its consolidated nonprofit corporations are exempt, fi.om federal and state income taxes
under Section 501(c)(3) of the Internal Revenue Code and comparable state statutes. AHI is a
corporate subsidiary of MHC that is not exempt from federal and state taxes.
Fair Value
The carrying amounts of the Company's cash and cash equivalents, receivables, payables and accrued
expenses approximate fair value due to the short-tm'm nature of these instruments. The fair value of
the Company's long-term notes receivable, due fi.om affiliates and notes payable cannot be est~mted
due to the inability to ascertain.a fair rnarl~t value rate- in the numerous communities in which the
regulated properties exist It is impracticable to estimate thc fair value of the Company's financial
guarantees because there are no qUoted market prices for transactions that are similar in nature.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally aCcepted in
the United States of America requires management to make estinmtes and assumptions that affect the
amounts reported in these financial statements and the sccompanying notes. Actual results could
differ from those estirmtes.
NOTE. B - GRANTS KECEIVABLE
-Grants receivable consist of amounts due under 8rant awards for which the revenue has been
reco~7~'d either, as unrestricted or temporarily restricted. Of the amount due of $7,632,474,
approximately $7,088,099 relates to two development ~rant receivables awarded to John King Senior
Commtmity and Mercy Gardens.
Mercy HoUSing California
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2001
NOTE C- NOTES RECEIVABLE
Notes receivable consists of notes duc from various affiliated and Unaffiliated organizations. Interest
rates on the notes receivable range from 0 percent to 6 percent Maturity dates range from fiscal years
2001 to 2004. At JUne 30, 2001, substantially all of the notes and interest receivable is collateralized
by real estate.
At JUne 30, 2001, MHC had an allowanci for loan losses amounting to $331,869 'as fonows:
Allowances at July 1, 2000 $ 188,312
Increases to allowance charged to expense 14,268
Other 129~289
Allowances at June 30, 2001 5; 331,869
NOTE D - PROPERTY AND EQUIPMENT
Property and equipment at JUne 30, 2001 consisted of the following:
Land and improvements. $ 15,164,183
Buildings and improvements 90,622,863
Equipment 2,712,380
Construction in progress 15,017,800
Total property and equipment ~ 123,517,226
' ' ~ ' Less a~eumulated depreciation and amortization ' (21,490,119)
Property and equipment, net ' $ 102,0271107
NOTE E_ NOTES PAYABLE :"
Notes payable consist of notes due to various affiliated and unaffiliated organizations and individuals
that provide affordable housing and related services. Interest rates on the notes payable range from 0
percent to 10 percent. Maturity dates range from fiscal years 2001 to 2050. At JUne 30, 2001,
~ubstantially all of the notes payable are collateralized by real estate or are made to entities in which
the Company has an ownership interest
Mercy Housing California
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2001
NOTE E- NOTES PAYABLE (Continued)
Future minimum principal maturities of notes payable are as follows:
For the ),ear ending[ June 30
2002 $ 4,036,203
2003 472,634
2004 512,725
2005 566,285
2006 630,622'
Thereafter 36,474,148
- Total maturities 42,692,617
Les. s current maturities (4,036,203)
Notes payable, less current portion '$ 38,656,414
NOTE F- RELATED PARTY TtLANSACTIONS
The Company has significant related party wansactions with-affiliates. It provides a considerable
amount of funding m connection with the development of projects. It also provides development
services, fund raising assistance, resident services and .administrative services. In certain cases, the
Company pays operating expenses on behalf of and provides management' services to affiliates. These
costs are reimbursed to the Company on a monthly basis. In certain instances where individual
properties may be experiencing cash flow difficulties, repayment is delayed, providing the property
with an informal source of funds. The Company is not required to provide such. funding and does so
on a case-by-case basis.
Due From Affiliates
Due from affiliates consists of amounts loaned to affiliates and third parties by MHC and its affiliates.
The amounts loaned by MItC and its affiliates primarily represent development loans and advances.
These loans and advances are generally collateralized with real estate of the funded property. As
discussed previously, many of these loans and advances do not require payments until after the
scheduled maturity of the related first mortgages. Interest payments generally are subject to available
cash flow. In some cases, loans are required to be repaid earlier. This usually occurs'in situations
where the underlying source of the loan is required to :be repaid earlier as well.
Mercy. Housing California
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 3 O, 2001
NOTE F- RELATED PARTY TRANSACTIONS (Continued)
Development fee income
Generally, all development fee income is earned in connection with affiliated entities. Development
fees associated with subsidiaries is eliminated in consolidation. Development fees associated-with
unconsolidated affiliates is used as means of providing funds to regional development groups to
operate and develop additional propertiek Many of these fees are required to be deferred and paid
from cash flows of the related property.
Consulting fee income
Substantially all of the consulting fee income earned by MHC is for property management
development services provided to affiliates.
NOTE G- INVESTMENT'IN MERCY FAMILY PLAZA, L.P.
MHC and MHI have a general partner interest in Mercy Family Plaza, L.P., a District of Columbia
limited partnership that owns 36 units of affordable multi-family housing. This interest is accounted
for by the equity method. Summarized financial information of Mercy Family Plaza as of and for the
year ended December 31, 2000 is as follows:
Current assets $ 125,776
Net property and equipment 3,917,874
Other noncurrent assets 246,501
Total liabilities 2,704,123
Partners' equity 1,586,025
Total revenues 1.68,258
Net loss ' (124,546) "
MHC maintains a reserve for the portion of its investment in Mercy Family Plaza that may not be
recoverable. The reserve is detexmined based upon management's assessment of the recoverability of
its investment in the partnership. Increases to the provision are charged to adjustment of partnerskip
interest. During 2001, no additional reserves were recorded to adjust the allowance of $686,671 for
the investment in Mercy Family Plaza.
Mercy Housing California
NOTES TO CONSOL]DATED FINANCIAL STATEMENTS
June 30, 2001
NOTE H - COMMITMENTS
Orant and property use restrictions
Many of the properties owned and operated by MHC and its Subsidiaries were developed using monies
provided by grants and restrictive, low interest rate loans. The terms of these loans restrict the use of
the property and generally require it be Rented to low-income qualified tenants for the period of the
grant or related loan term. Failure to comply with the terms of the grant or the loans would result in a
. requirement to repay a portion or all of the proceeds received.
Rental assistance contracts
Several properties owned by or affiliated with the Company have entered into rental assistance
contracts'with HUD. These contracts have various terms and require the affiliate projects'to operate as
low-income housing properties and to obtain HUD aPprOval of all rent increases.
S.urplus cash and residual receipts
Certain of .the properties owned by MHC and its subsidiaries are subject to HUD regulatOry
agreements, which restrict the use of the property and limit the use of project cash. Under these
regulatory agreements, many of the subsidiaries are precluded from receiving any distn'butions of
operating cash. A surplus 6ash calculation is required to be prepared annually and any surplus cash, as
defined, is required to be deposited in a residual receipts account controlled by HLrD.
NOTE I- DEFERRED REVENUE
Deferred revenue at June 30~ 2001 consists of $377,866 in conditional donations, including interest.
During 1997, the CitY of Stockton donated $375,000 to MItC to be used to develop a low-income
project in the City. If the site is not selected bya future date (ori .g~nally October 1997, then extended
to August 2001), the full amount, plus accrued interest, must be turned over to the Redevelopment
Agency of the City of Stockton. As of June 30, 2001, a site was selected for the development of the
.project in Stockton.
-16-
IfllX)006215~0062~2001 \wp~S~fERCH-FS.DOC
SUPPLEMENTAL INFORMATION
2001
22
23
25
EXPERIENCE OF DEVELOPMENT TEAM
Development Team
Mercy Housing California Developer
Mercy Services Corporation Property Manager
Hardison'Komatsu Ivelich and Tucker Architect
To be determined General Contractor
California Housing Partnership Financial Consultant
Gubb and Barshay Legal (syndication, financing)
Individually, each of the team members possess invaluable experience in affordable housing
in the Bay Area that will benefit Dublin Senior Housing. MHC and MSC have worked with
each of the team members for many years on developments with characteristics that are
similar to that of Dublin Senior Housing:
Difficult, infill sites
High cost areas
· Complicated financing sources and structure and competitive environment for
financing
· Community involvement required
Please refer to the previous section for a description of Mercy Housing CA and Mercy
Services Corporation experience.
AlthOugh Mercy Housing California has not worked in the City of Dublin, it has extensive
experience with complicated land use approvals processes in other jurisdictions, including in
San Francisco and Santa Cruz. It is common in the City of San Francisco, where MHC has
developed a significant number of housing units, to have new construction developments
follow a process in which a CUP/Planned Unit Development (PD) and lot mergers or splits
are required. This is due to the complexity of assembled parcels required for development,
many of which have conflicting zoning requirements. In the last three years, MHC ~in the
Area has completed two projects and has been pursuing the entitlement process on five
developments requiring a PD.
Introduction
Hardison Komatsu Ivelich & Tucker (HKIT)
538 Ninth Street, Suite 240
Oakland, CA 94607
p. 510.625.9800
f. 510.625.9801
e. www.hkit, com
HKIT has been in continuous practice in the San Francisco Bay Area since 1964, with
roots that extend back to 1948. Our practice has kept apace with the growth of the
region, as we have continuously expanded and improved our services. Our practice
remains strong and consistent as we move into the New Millennium, continuing the
reputation built up over several decades of quality work.
HKIT maintains a professional staff that averages 40 persons. The firm is a cadre of
experienced professionals, leavened With the enthusiasm of younger practitioners. We feel
fortunate to have an unusually stable team that has worked together for many years. Our
staff is comprised of a number of Project Managers with significant experience managing
the design and construction of family housing projects. Our staff also includes specialists
in Planning, design, Interior Design, CADD, a dedicated Specifications Writer, as well as
Construction Administration, and other technical areas.
Principals George IVelich, AIA
Robert B. Tucker, AIA
Dennis Okamura, AIA
Thomas C. Brutting, AIA
Richard Caldwell, AIA
Data Youngdale, AIA
Associates Linton D. Stables, III, CSI, Senior Associate
Tom Oakes, AIA
Tad Sekino
Computer
Capabilities
We use AutoCAD 2000 for the preparation of presentation, design
and construction document drawings. Designing a building on an
AutoCAD system and updating it as the project proceeds from
schematiCs through design deVelopment and contract documents
can provide efficiencies. Our sub-consultants typically use the
same software, enhancing coordination. Base drawings and other
technical information is exchanged by all team members. In
addition, collaborative in-house software and hardware allows us to
provide access to project information 'including drawings and
specifications in an interactive design and planning environment
with updated information as the project develops.
Scope of Services Programming
Facilities Evaluations
Master Planning
Feasibility Studies
Phasing Studies
Design
Contract Administration
Field Administration
Post Occupancy Evaluation
Relevant Experience
HKIT has built a reputation as one of Northern California's most respected housing
architects. We are particularly known for our innovative planning and design of senior
housing, congregate care, skilled nursing, and assisted living facilities. Among our current
and recent projects are Presentation Senior Community, a 93-unit residential facility for
specifically for frail seniors, located in the Tenderloin area of San Francisco, and the
recently completed New Madonna Residence which will provide comfortable, supportive
housing and services for 50 low-income, senior women, enabling them to remain
independent.
We apprOach the design of senior communities as an opportunity to have a positive effect
on the residents' lives. We bring enthusiasm, optimism and commitment to the challenge
of creating appropriate, life-enhancing environments. We are proud of our many design
awards for senior housing, for they attest to our success in designing housing and care
faCilities that Work: for the owners, for the residents, for management, and for the broader
community.
Our role as architects includes a great deal of neighborhood involvement. We interact
with resident and community groups, city planning commissions, city council members,
and other involved parties to address their concerns, solve problems, and build a
consensus for the project. We bring site diagrams, schematic floorplans and elevations,
renderings, and models of our preliminary thoughts to stimulate discussion at these
gatherings. As a result, HKIT has a consistent track record of creating projects that earn
broad-based community approval and acceptance.
HKIT has been designing housing projects for more than fifty years. We pride ourselves
on understanding the needs of a housing complex within the social fabric of sub-urban as
well as urban environments. We have completed full scale design and construction
services for numerous similar multi-family affordable housing developments in the Bay
Area including: The Arbors, a 60-unit affordable senior housing project recently
completed in Hercules, Mayacamas Village a 51-unit multi-family affordable housing
project in Napa, Silvercrest Apartments an 80-unit affordable project for the Salvation
Army in Turlock, and Bernal Dwellings, a Hope VI project consisting of 160 units
currently under construction for the San Francisco Housing Authority.
Following is a partial listing of our recent experience with one, two, three and four-
bedroom rental units for low-income households.
JEFFERSON STREET HOUSING Low-Income Elderly Housing 80 units
Napa Valley, California Napa Valley Community Housing, 2003
HERITAGE HOMES Multi-Family Replacement Housing, 148 units
San Francisco, California Mercy/Charities West, 2001
BERNAL DWELLINGS Multi-Family Replacement Housing, 160 units
'San Francisco, California San Francisco Housing Authority, 2001
SILVERCREST APARTMENTS Low-Income Elderly Housing, 80 units
Turlock, California The Salvation Army, 2001
PRESENTATION SENIOR COMMUNITY Low-Income Elderly Housing, 93 units
San Francisco, California Mercy Charities Housing California, 2001
THE ARBORS Low-Income Elderly Housing, 60 units
Hercules, California BRIDGE Housing Corp., 1999
ARBOR VISTA Low-Income Elderly Housing, 80 units
Livermore, California Interfaith Housing, 1998
HOLLY COURTS MODERNIZATION Multi-Family Housing, 118 units
San Francisco, California San Francisco Housing Authority, 1998
CANOAS GARDENS Multi-Family Housing, 112 units
San Jose, California Community Housing Development, 1998
NEW MADONNA RESIDENCE Low-Income Elderly Housing, 51 units
San Francisco, California St. Anthony Foundation, 2000
PROMENADE APARTMENTS Multi-Family Housing, 146 units
Pleasanton, California A.F. Evans, Inc., 1998
MAYACAMAS VILLAGE Multi-Family Housing, 50 units
Napa, California Housing Association for Napa Development, 1994
1101 HOWARD STREET Multi-Family Housing, 34 units
San.Francisco, California Mercy/Charities, 1994
201 TURK STREET APARTMENTS Multi-Family Housing, 175 units
San Francisco, California A.F. Evans/Chinese Community Housing Corp., 1993
111 JONES STREET APARTMENTS Multi-Family Housing, 108 units
San Francisco, California Mercy/Charities West, 1992
GEARY COURTYARD Multi-Family Housing, 165 units
San Francisco, California A.F. Evans Inc., 1990
Richard Caldwell, AIA
Principal-in-Charge
Mr. Cai. dwell has been an architect with HKIT since 1985. He has management
experience with numerous community facilities, senior housing, and multi-family housing
projects. Recent projects managed by Mr. Caldwell include:
· The Arbors, Hercules
Developed in conjunction with the City of Hercules, this project is designed to
maximize the integration between new housing and an existing senior center. 60 low
and extremely low-income units are situated around a central courtyard to mitigate
noise from surrounding uses. The courtyard is easily accessed from interior common
space and provides a warm and quiet outdoor area.
· Mayacamas Village, Napa
Set in the heart of wine country, this new multi-family community offers much needed
affordable housing to the area's residents. The complex focuses on large families and
in particular, on children's needs. Low rise buildings house 51 -2, 3, and 4 bedroom
units that provide much needed space as well as individual privacy to the families
residing at Mayacamas Village.
The Promenade, Pleasanton
The Promenade represents one of the City of Pleasanton's most recent opportunities
to increase affordable housing opportunities for its low and very --low income
households. 146 units are clustered in groups of 1,2, and 3-bedroom townhouses and
flats around landscaped gardens. Private open space is provided by individual decks
and covered patios,
· Arbor Vista Senior Community, Livermore
The recently completed Arbor Vista project is a low-income elderly community in the
Livermore Valley, providi.,ng 80 one-bedroom units on a six-acre site. This HUD 202
project ~vas planned as a series of neighborhoods surrounding a central commons
building. There are six neighborhood clusters with approximately 15 units in each.
· Newark Gardens, Phases 1 and 2, Newark
Newark Gardens is an award-winning elderly housing project located in the bayside
city of Newark. The buildings are arranged to provide screening from the strong off-
bay winds indigenous to this area. This clustering creates a series of courtyards, each
a pleasant garden space. Phase One involved the construction of 150 units, while
Phase Two led to an additional 50 units.
Mr. Caldwell received his Masters of Architecture from U.C. Berkeley, and has been a
Registered Architect in the State of California since 1986.
References
MercY Charities Housing California
1038 Howard Street
San Francisco, CA
Ms. Jane Graf
T. (415) 487-6825
F. (415) 487-6834
A.F. Evans Company, Inc.
2000 Crow Canyon Place
San Ramon, CA
Mr. Art Evans
T. (925) 244-1600
F. (925) 244-1804
Eden Housing
409 Jackson Street
Hayward, CA 94544
Ms. Catherine Merschel
T. (510) 582-1460
F. (510) 582-6523
Elder Care Alliance
2361 E. 29th Street
Oakland, CA 94606
Mr. Larry Kollerer
T. (510) 434-2803
F.' (510) 434-2806
Napa Valley Community Housing
Five Financial Plaza,-Suite 200
Napa, CA 94558
Ms. Sue Dee Shenk, Executive Director
T. (707) 253-6140
F. (707) 255-0252
The New Madonna Residence
San Francisco, California
The New Madonna senior center and residence
provides ~omfortable, supportive housing and
services for 50 low-income, senior women, enabling
them to remain independent. The center houses
programs for poor and homeless seniors including
an Adult Day Health Center (ADHC), Drop-in
Center and offices for various Social Services which
are also available to the local community. The
communal dining facilities are on the second level
and open onto an interior balcony overlooking a
secure landscaped courtyard. Apartments consist of
fifty-one 450-square-foot studios, equipped with full
bath~ and galley kitchens. Each floor includes a
common kitchen and living room area for commu-
nity gatherings. New Madonna Residence furthers
the mission of the St. Anthony Foundation to serve
the poor and homeless in San Francisco.
The New Madonna
[] Residence provides a
parking i[ safe, xvarm community
for senior women,
· ' providing resident
services. The second
floor includes the dining
room, chssrooms, and
outdoor seating areas.
The Drop-in Center,
Multi-Purpose, and
Social Services areas are
located at the street level
and are open to the
community.
GROUND FLOOR [nkance to
Residential Units
Project Data
Type of Housing: Senior, A~Cordabte
Type of Construction: 5 stories TYPICAL RESIDENTIAL FLOOR
No. of Units: 51 units
Lot Size: .43 acres J~
Density: 1 t8 units/acre }~
The Arbors The Arbors provides 60 units of housing for
Hercules, California affordable to lo~v and extremely low income seniors.
Developed in conjunction with the City, the project
Recipient of 2000
benefits from its close proximity to the community
Gold Nugget serving senior center. Designed to maximize the
Award of Merit integration between the new housing and existing
"Best Seniors Project"
senior center, the project is sited to advantage of the
· ' panoramic views offered in all directions.
Although the site is ideally situated for seniors, the
Project Data
Type of Housing: Senior, Affordable project site's steep slopes and locadon near a highway
Type of Construction: 3 Stories and railroad tracks presented design challenges. The
No. of Units: 60 units site has 2:1 slopes on three sides which required that
Lot Size: 5.27 acres the building be located on the very top of the hill.
Densily: 11.39 units/acre To mitigate noise from surrounding uses, the units
are situated around a central courtyard. The court-
yard is easily accessed from the interior common
space and pro~4des a warm and quiet outdoor area
sheltered from the wind and exterior noise.
Promenade Apartments
Pleasanton, CaliFornia
The Promenade represents one of the City of
Pleasanton's most recent opportunities to increase
affordable income housing opportunities for its low
and very-loxv income households. The irregular
shape of the site gave HKIT an opportunity to form
an interesting site plan, which focuses on the cen-
t_rally-located community center and swimming pool.
146-units are clustered in groups of 1,2, and 3-
bedroom townhouses and flats around landscaped
gardens. Private open space is provided by indi-
vidual decks or covered patios. Visual interest is
maintained by the multi-level composition of the
housing units.
The design emphasizes amenities generally found in
market rate accommodations induding a recreation
center and adjoining s~vimming pool, children's play
area and tot lot, and BBQ areas for famil~ gather-
ings. The landscaped gardens found nested amongst
each apartment cluster bears its own unique theme
ranging from an art deco motif to California, Italian,
rose and perennial areas.
Construction Cost $9,653,312
Completion Date November 1997
Project Data
Type of Housing: Multi-Family, Affordable
Type of Construction: 3 stories
No. of Units: 146
Lot Size: 7.4 acres
Densily: 19.2 units/acre
COMMUNITY-RECREATION BUI~ING
.~'~?~,~:?;;:: ,~.-..'"" ~S ~ed-~come housing comple~ o~e~s ~
landscaped m~ket rate se~gs and amendes ro
affordable-~come f~es. A sxm~g pool,
located ~ front of ~e co~um~ center, offers
refreshment from ~e 90°+ summer hear xv~ch
pe~ades ~s location.
The design provides a children-friendly "village" that
encourages interaction amongst the community in a
secure setting. The colorful play areas and open
spaces betxveen units offer safe spaces for children to
play while being directly and indirectly observed by
parents and the housing complex workers.
Canoas Gardens The $12 million Canoas Gardens complex includes
San Jose, California 112 apartments comprised of two, three, and four
bedroom units. HKIT was selected, along with a
Project Data General Contractor, to complete the development
Type of Housing: Multi-Family, Affordable of this design build project. The design build team
Type of Construction: 3 Stories over Parking was asked to refine and execute the original scheme,
No. of Units: 112 units developed by the Owner. The structure is three
Lot Size: 2.66 acres levels over parking and is wood frame construction.
Densily: 42.1 units/acre The developer sought a highly dense affordable
housing complex that did not have an institutional
feel to it. HKIT used the Mediterranean vocabulary
to create the tight walMvays and courtyard spaces
that open out onto larger courtyards. In addition to
public areas designed to encourage gatherings by
members of the community, there are private
outdoor spaces for each unit.
Rech~ood Shores Redwood Shores is one of Vallejo's most recent
I~.' Vallej°, California projects to serve its senior citizens with affordable,
~ attractive housing. This 120-unit, 3-story property
,~_ rises abOve the Nape River, offering majestic views
of the water and neighboring wildlife. Each one
~ . bedroom unit houses a living/dining room, kitchen,
~ bedroom, bath, and a private patio Or deck. We
r-' enhanced a feeling of ownership and community by
{ . creating a secured courtyard which gives residents
,,:;4 their own private gardens to create and maintain.
~'- Other amenities include a community room for
~ informal activities and family gatherings, and a
Project Data library. HKIT worked closely with the developer to
Type of Housing: Senior, Affordable minimize potential costs in a number of creadve
~ · Type of Construction: 3 stories ways. Retaining much of the original hill permitted a
No. of Units: 120 units multitude of benefits, from minimizing any expenses
~ Lot Size: 3.9 acres for leveling the site and hauling unwanted ear~_h to
~ Density: 30.8 units/acre enhancing the viexvs of the surrounding waterway.
Mayacamas Village Set in the heart of wine country, this new'multi-
Napa, California family community offers much needed affordable
housing to the area's residents. The complex focuses
on large families and in particular, on children's
Project Data needs. The 1,844 sf community center provides on-
Type of Housing: Multi-Family, Affordable site child care which is supplemented with two
Type of Construction: 2 stories outdoor play areas. Low rise buildings house 51
No. of Units: 51 units 2-, 3-, and 4-bedroom units that provide much
Lot Size: 3.09 acres needed space as well as individual privacy to the
Density: t 6.5 units/acre families residing at Mayacamas Village.
Jefferson Street Senior Community This Senior Housing project is funded throught the HUD
Nopo, California
202 program and sponsored by a local non-profit
development group. The project will provide 80 indepen-
dent apartments for a low-moderate income elderly
community. The flat site with many mature trees, offers
majestic views of the surrounding valley and is conve-
nient to public transit. The design borrows from the
Victorian motif in a typical Napa vernacular.
Presentation Senior Community
. : San Francisco, California
The Presentation Senior Com-
munity project is an excellent
example of providing senior
services that are both available
] to the public and to the resi-
dents. The project includes an
Adult Day Health Center
~ : i (ADHC), physician's exam
:' rooms, a variety of social
services such as counseling, and
a multi~purpose facility for
community gatherings. A unique
feature of the Presentation
project is the EXIT Theatre,
occup34ng a 2,000 SF commer-
cial space at thk ground level of
the project. The fl~eatre was
actually conceived by Developer
in response to the City's desire
to enliven the project at the
street level in the evening, while
~-'--~ also providing cultural amenities
for the senior residents.
Project Data
Type of Housing: Senior, Affordable
Type of Construction: 6 Stories over Podium Parking
No. of Units: 93 units
Lot Size: ' .434 acres
Density: 214 units/acre
Building Section
Berry Street View
Channel View
MiSSion Bay Senior CommUnity
San Francisco, California
HKI&T recently completed the Schematic Design
phase for the Nhssion Bay Senior Communi~, Block
N3A - Parcel 1 in Mission Bay. The project ~vill
include 140 apartments for low-moderate income
independent seniors, an Adult Day Health Center,
multi-purpose space, San Francisco Public Library Project Data
Branch, commercial office space for non-profit Type of Housing: Senior, Affordable
businesses, and street level retail. The project, on the Type o[ Construction: 8 stories
corner of Fourth and Berry Streets, wLLI be No. of Units: t 39 units
prominanfly located at one of the main entrances Lot Size: I acre
into Mission Bay. Density: 139 units/acre
California Housing Partnership corporation
California Housing Partnership COrporation (CHPC) is'a nonprgfit.housing
consulting and training organization formed in 1989. CHPC's mission is to
preserVe existing affordable housing and to expand the capadty of p~bhc,
nonprOfit and resident-controlled entities to develop, own and manage
'affordable housing. CHPC's expertise includes:
Preservation of Federally AssiSted Housing
,
CI-[PC has served as consultant on over 70 nonprofit, public agency or resident
acquisitions, which have resulted in the preservation. Of over 2~500 units of
assisted' at risk of conversion. Our include
federally.
housing
services
project
identification, financial feasibility analysis, purchase negotiations, finandal
'structuring, coordination of the dosing, and assistance in cOmpliance with HUD
and other' requirements. CHPC has consulted on a wide range Of preserva:tion
financing initiatives, inclUding Title ri, Title VI, Section 236(b), FHA' mortgage
insurance, CI-[FA programs, and other resources, often combined with tax credits
and tax-exempt bonds. CHPC has also prOvided consulting on projects
partidpating in MUD's Multifamily Portfolio Reengineering Demonstration
Program, the HUD property disposition program, and other transactions
involving HUD-assisted or insured developments.
MultifamilY Financial ConsUlting: Low-Income Housing 'Tax Credits/Tax-
ExemPt Bonds]Other Programs
CHPC has assisted 'many'nohprofit sponsors to raise-equity through the Low-
Income Housling Tax Credit Program. Our services include preparation of
financial projections and assistance in preparing competitive tax credit
.applications, finfincial :strUCttiring to maximize equity raised~ negotiation with
equity investors, and other consulting services leading to .project dosing. In the
past two years, CHPC provided: consulting serkices on mul ' .tifamily tram. actions
involving over $150 million in financing, including tax-exempt bonds, 9% and
4% tax credits, CI-[FA, HOME, McKinney, CDBG,-Federal Home Loan Bank AHP
Program, redevelopment tax increment, .HL!D., and other funding sources.
Projects have ranged'from large f..amily new construction to acquisition and
rehabilitation of SROs 'for special'needs .residents. ..
Asset and property Management for Affordable Housing
CHPC c~evelops t~ainings and resource, material to strengthen nonprofit asset
and property m .anagement practices. CI-[PC collaborates with national groups and
regional nonprofit housing associations- in providing, asset management
trainings. CI-[PC also provides training and consultation to meet the needs of
Our services include Board and'staff
individual.
nonprofit
housing
providers.
training, oversight :of low income housing tax credit management, property
management performance-reviews :and development of property management,
.cOmpHance'and asset management systems. ~ ..'
Housing Policy
CI-IPC serves as an information clearinghouse on federal policy proposals
relating to the existing federally-subsidized stock. CI-~C maintains a
comprehensive database of HUD-assisted developments in California which are
prepayment eligible or subject to expiring Section 8 contracts. CHPC regularly
provides information to state and federal policy makers. Recent activity includes
participation on an advisory committee to the U.S. Senate Banking Committee
as part of a process that resulted in legislative initiatives in 1996 and' 1997 for
Section 8 portfolio restructuring, participated in 1996 "Mark-
CHPC
staff
to-Market" working group and in other federal housing task forces.
Program Design/Project Evaluation for Finan~:ial and Regulatory Agencies~
In"addition to its transaction work, CHPC also 'provides consulting to public
agencies. Examples of recent work include: Property Disposition: CI-tPC serves
as a technical advisor to Resolution Trust Corporation and Federal Deposit
Insuran'ce Corporation on disposition of selected properties in southern
California; Program Design: CHPC assisted California Housing Finance'Agency
in program design and preparation of its Designee Management Plan for the 1997
Portfolio Reengineering Demonstration; .Organizational Evaluation:. CI-IPC
prepared a report for the City of Stockton on capacity and.business Planning for a
local housing development corporation; Finandal Review:' CI-IPC conducted
financial analysis and negotia-ting support to the HUD field office'in a review of
developer 'proposals on a 350-unit Property DisPosition project in Nevada.
Training and Resource Material
CHPC is a leading trainer for affordable housing practitioners. For'the past ·five
years, CHPC has ·been the lead trainer for the LoCal Initiatives Support
Corporation CLLSC) California project manager 'training, an intensive', year-long
training program. Other' training clients have included the U~S. Department of
Housing and Urban Development, the California Departm.ent of Housing. and'
Community Development, Neighborhood Reinvestment Cdrporation, the..
California Redevelopment Association and numerous nonprofit..housing '
developers and .managers. CHPC staff recently prepared a manual.titled "Not'a
Solo Act. A Guide to Forming Successful Partnerships for Supportive Housh3g''
on behalf of the Corporation for SuppOrtive Housing.
C}-IPC has 'offices in San Francisco, Los Angeles and San Diego, with-a staff of.
four policy, finance, and management speci~li.~ts. CHPC's board of directors is
appointed' by the governor and state legislature and it includes.'leaders from
many sectors of the affordable housing community.
Main Office Los Angeles Office San Diego Office
369 Pine Street, Suite 300 800 South Figueroa St., Ste.-760 450 B-Street, .Suite 1010
San Francisco, CA 94104 Los Angeles, CA '90017 Sart Diego, CA 92101
(415) 43.3-6804 - Phone (213) 892-8775 ~ Phone .' (61~) 531-1995 -' Phone
(415) 433-6805 -'Fax (213) 892-8776 -Fax '(619) 239-32071- Fax
Revised on October 1999
California Housing Partnership Corporation
STAFF QUALIFICATIONS
IANET FALK
Janet Falk has had extensive experience in the development and financing of
nonprofit housing. She was appointed as the Chief Executive Officer of
California Housing Partnership Corporation (CHPC) in October 1999. Prior
to joining CHPC, Ms. Falk Was for 19 years the Co-Director'of Community
Economics, Inc. (CEi'), a nonprofit organization which provides technical
asSistanCe in housing finance to nonprofit housing developers, local
governments, and tenant organizations.' She also worked for five years as a
housing and-corem.unity development specialist for local government
agencies in the Bay Area. She received, a Master's Degree in City and
Regional'.Planning from the University: of CalifOrnia at Berkeley' and a
Bachelor's Degree from Stanford University~
Ms. Falk was involved'in over 150 projects at CEI, including new
construction, rehabilitation, special needs housing, mobile home parks,
tenant purchase of rental properties, and artists' live/work space. She'is
particularly knowledgeable in utilizing the low income housing tax credit
and tax-exempt bonds for nonprofit projects and in the ways in which local
and state governments can most effectively assist the development and
rehabilitation of low and moderate income housing.
MS. Falk is currently on the Board of the California Coalition for Rural
Housing and the California Housing Consol'tim. She is past Chair of '
Housing California, the state's coalition of housing and homeless
.
organizations, and was on the Board of the CalifOrnia Homeless and
Housing Coalition from 1991 to 1996. She is past President of the Board of
Directors of the Non-Profit Housing Association of Northern California
CNP~ and served for-many years as Chair of NPH's Legislative Committee.'
She is currently a member of the Advisory Board for the California
Organized Insurance Network (COIN) and on the Advisory Board for the
State of California's HOME program. She has been a member of the
California Legislature's Housing Task Force,-. the State Senate Working
Group on Housing Preservation, and the HCD Advisory Group on the use of
Proposition 77 funds. She also served 'on the LISC California Affordable
.Housing Cost Study Advisory Group.
RICHARD MANDEL
Richard Mandel, Director of FinanCial and Development Consulting, has
been with CHPC Since 1990, providing technical assistance and training to
nonprofit and local goverraneni-M entities irt housing finance and
development.
CHPC STAi~ QUALIFICATIONS
Page 2
Mr. Mandel brings particular expertise in struct-uzing financing packages for
projects utilizing low-income housing tax credits, tax-exempt bonds, HUD,
CI-tFA, AHP, and state and local housing programs. He has assisted
nonProfits in the financing of several thousand housing units, including
new construction and acquisition/rehabilitation projects serving families,
seniors, special needs and other populations.
For many years, Mr. Mandel has been very active in the area of preservation
of.fe, derally ass/sted housing. He has spoken at numerous conferences,
workshops and legislative hearings on this issue and has written several
· articles and studies. He served as Chair of the Preservation Working Group
of the Nonprofit 'Housing Association of Northern California.
Prior to joining the California Housing Partnership Corporation, Mr-.
Mandel was a Project Manager with the Mid-Peninsula Housing Coalition, a
major nonprofit development corporation serving San Mateo and Santa.
Clara counties.
Mr. Mandel holds a Master of City Planning degree from the University of
California, Berkeley.
BIRUTE SKURDENIS
Birute Skurdenis joined the California Housing Partnership Corporation
(CHPC) as Senior Program Manager in 1996. Ms. Skurdenis provides
property and asset management consultation services, training and resources
to state and national nonprofit housing assodations and to individual
affordable housing developers. Services include Board and staff training,
oversight of low income housing tax credit management, property
management performance review and the development of property
management, compliance and asset management systems. ....
Before joining CHPC, she was a member of the senior staff at the John
Stewart Company, a property management firm located in the San Francisco
Bay Area. She'was responsible for overseeing a large Portfolio.of affordable
housingt including project marketing, staff supervision and management of
more than 2,500 units of ho'using for families, elderly and special needs
populations. Her work required extensive knowledge of HUD, tax credit,
state housing program and public lending compliance issues.
Ms. Skurdenis has worked in the field of affordable housing management
since 1986. During that t/me she has provided property and asset
management services to more than 45 different nonprofit and housing
partnership organizations.
Revised on July 2000
CHPC STAFF QUALII:ICATIONS
Page 3
She holds a Masters Degree in Social Welfare Organization, Planning and
Administration from- U.C. Berkeley and a B.A. from Antioch College:
MEG MCGRAW-SCHERER
Meg McGraw-Scherer joined CHPC in May of 2000 as a senior Program
Manager in the agency's San Francisco office. Ms. McGraw-Scherer provides
development and financial technical assistance to nonprofit corporations
and public agencies in Northern California.
Ms. McGraw-Scherer has over five years of experience in the nonprofit
housing development industry. Prior to joining CHPC, she worked for two
years at the National Equity Fund, a nonprofit tax-credit syndication
organization that provides millions of dollars in tax-credit equity to
California projects. There she worked as an underwriter on numerous
low-income housing tax-credit projects sited in Seattle and the San Francisco
Bay Area. Previously, she spent over 3 years at the King County Housing
Authority in Seattle, Washington as a housing developer in the Housing
Authority's development department. There she worked on the
development of projects using tax-credits, tax-exempt bonds, and various
federal and local financing programs.
She received a Master's Degree in Public Administration from the
University of Washington in Seattle and a Bachelor's Degree from Boston
College.
Ramon Mendez Ir. joined CHPC in 1998 as a Senior Program Manager to
provide development and 'financial technical assistance and training
opportunities to nonprofit corporations public agencies
and
the
Southern ·
California region.
Mr. Mendez has over eight y.ears experience in the nonprofit housing
industry. Prior to joining CI-IPC, he worked for over four years at the Low
Income Housing Fund, a nonprofit financial intermediary, where he
underwrote various financing products for the development of affordable
housing. He also managed an $8 mi]Hon affordable housing lending pool
among eight major California finandal institutions. Previously,' he worked
on various housing and community development projects for a community
development corporation in East Los Angeles, and was a redevelopment and
environmental analyst for Fugro McClelland, Inc. He also volunteers on the
Board of Directors for the West Hollywood Community Housing
Corporation and the Nonprofit Federation of Housing and Community
Development.
PageCI-IPC4 STAFF QUAI.II:rICATIONS
Mr. Mendez attended ucLA where he received· Masters Degrees in Urban
Plannirtg and Latin American Studies and a Bachelor of Arts irt Psychology.
PAUL BEESEMYER
Paul Beesemyer joined the California Housing Partnership Corporation as
Senior Program Manager in the agency's Los Angeles office in 2000. Mr.
Beesemyer-provides techrtical assistance to Southern California's nonprofit
housing community and numerous public agendes in the areas of financing,
development, and organizational capacity, building..
· Mr. Beesemyer brings over five years of community development and
housing experience to bear on Southern California's affordable housing
crisis. Prior to joining CI-IPC, he worked as a Project Manager-for the Los
Angeles Commurfity Design Center, where he managed numerous
affordable housing and community development projects. Over his four-
year tenure, he worked on over 25 projects as a developer, planner, and .-
financial and organizational consultant, serving famffies, senigrs, and
various special-needs populations. He is knowledgeable in the. use of a
wealth of community development financing tools, including low-income
housing tax credits, tax-exempt bond financing, and the variety of public
.ftmding programs administered at the local, state, and Federal levels. In
addition to housing, he has produced and implemented comprehensive
nei'ghborhood revit~]izat~on strategies, emphasizing feasibility, community
participation, and consensus-building. Previously, he worked for a
community, development organization in downtown Los Angeles,
providing construction oversight for projects under development and
formulating a neighborhood-based development strategy.
Mr. Beesemyer holds a Bachelor of Arts in Landscape Architecture from the
University of California, Berkeley.
-
Main Office ' Los Angeles Office San Diego Office
369 Pine Street, Suite 300 800 South Figueroa St., Ste. 760 450 B Street, Suite 1010
San Francisco, CA 94104 Los Angeles, CA 90017 San Diego, CA 92101
(415) 433-6804- Phone (213) 892-8775 - Phone (619) 53121995 -Phone
(415) 433~6805 - Fax (213) 892-8776 - Fax (619) 239-3207 - Fax
P,~ised on July 2000
CALIFORNIA HOUSING PARTNERSHIP CORPORATION
~ Financial/Development Consulting Services - Project. List
Low Income Housing Tax Credit Syndication
DiamOnd Cove Apartments ' ACLC. Inc. Stockton Family/Acq/ 60 9% Tax Credi~City of
Rehab Stockton
Emerald PointeApartments ACLC, Inc. Stockton Famiiy/Acq/ 19 9% Tax Credits/City of
Rehab Stockton/AHP
Grant Village ACLC, Inc. Stodcton Family/New 40 9% Tax Credits; AHP; City of
Stockton
Whispering Ptnes Apartments ACLC, lnc Sacramento Acq/Rehab/Preserv · 96 9% Tax Credits; HCD
ation Muitffamily Housing Program;
SHRA
Hookston Senior Homes Affordable Housing Pleasant Hill Senior/Rehab 100 4% Tax' Credits; CHFA Tax
Associates Exempt; AHP
Laurel Gardens Bethel A.M.E. Church San Francisco Family/Rehab/ 52 4% Tax Credits; HUD 223
Preservation (a)(7) Tax Exempt
~elvedere Place BRIDGE Housing San Rafael Acq/Rehab 26 4% Tax Credits; Madn Comm.
Foundation; City; Count7
Canaan Housing Canaan Ho'using SoulJq Central Los Family/New 35 9% Tax Credits; Los Angeles
Angeles CDBG
TheWoodrow Catholic Charities Housing Oakland SRO/Rehab 73 9% Tax Credits; Sec'don 8
Development Corporation Mod Rehab
Hemesafe Charities Housing Santa Clara DomesqJc Violence 24 9% Tax Credits, MHP, Local
Development CorpJlnn, .$u~4iv°rs/New' Agendes, McKJnney $HP
~ion Construction
Golden Gate Apartments Chinatown Community San Francisco FamilY/Rehab 72 4% Tax Credits/HUD
Dev. Center Preservation 236(b)/IRP Retenl~on/San
Frandsco Redev. Agency
Notre Dame Apartments Chinatown .Community San Frandsco Acq/Rehab/Pre~erv 203 4% Tax Credits;
Development Corp. ation Redevelopment Agency
alison'~ CHIP Red Bluff Acq/P, ehab/PreserVation 9.4 HUO Grant; MHP: HOME
lJght Tree Apartments Citizens Housing Corp2 East Pato Alto Aco/~hab/Preserv g3 4% Tax CredO; County of
· - " EPA CAN DO ation San Mateo
MOP, H Aparlzne~ Citizens Housing Oakland. Famity/Rehab/ 124 9% Tax Credits;, HUD
Corp/A.F. Evans Preservation 226(b~RP Retention
Oak Cen~ I Citizens Housing Oakland Family/Rehab/ 77 g% Tax Ciedits; HUO
Corp/A.F. Evans Preservation · 226(b)/IRP Retention
Coach~a Community Homes Coachella Valley Housing Coachella Family/Rehab 100 9% Tax Credits; CHRP; HUD
Coalition Section 8; UMAC
Greenwood/~~ Community Corporation Santa Monica Family/New 30 9% Tax Credits; AHP;, RHCP;
of Sarrta Mortice Crty of Santa Mortice
V"u'giniaVi~ Community Corporation Santa Monica Family/New 24 9°/', Tax Credits; RHCP; City
of Santa Mortice of Santa Monica
L°w Income Housing Tax Credit Syndication
Casa Nettieton Community Housing of ' Vista Family/ 28 9% Tax Credits;
' North County Transitional/New Redevelopment
Agenc~r
Euca~ V'~ew Communfty Housing of Escondido Umited Equity 24 9% Tax Credits; AHP; City of
North County Coop/New Escondido; HCD Farmworker
MaplewoodApartnm~ Community Housing of Unincorporated Acquisition/Rehab 79 4% Tax Credits; CHFA; AHP;
North County <;an Diego County of San Diego
TremontStreetApartmetm community Housing of Oceanside Spedal 22 9% Tax Credits; Supportive
North County Needs/Rehab Housing Program; HOME;
: Housing for People with AIDS
(HOPWA)
W'mona Gardens .... Community Housing of San Diego Acquisition/Rehab 68 9% Tax Credits; AHP; San
North County ' Diego Housing Commission
Hampton Place " Community Housing Fairfield Acq/Rehab 56 4% Tax Credits/Tax-Exempt;
Opportunities City of Fairfield; HCD; MHP
Corporation
CunTTemple Curpj Temple CDC Compton Family. 20 9% Tax Credits; Century
' Freeway; City of Compton
Golde~ Villas Greater Golden Hill CDC San Diego Family/New 32 9% Ta~ Credits; Rental
Housing Construction
Program
._,aetLane La Habra Neighborhood 8roe Family/Rehab 44 9% Tax Credits; AHP
Housing Services
WainutAvenue La Habra Neighborhcod Fullerton Family/Rehab 18 9% Tax Credits; AHP
Housing Services
St. Martin de Porres MAAC Project Spdng Valley Family/New 116 9% Tax Credits; AHP
Ben~uda Apartments Mercy Cha~ffies Housing San Leandro FamilyARehab 80 4% Tax Credits;, CHFA
California Tax-Exempt
~ Hamilton Mercy Charities/ Oakland ' SRO/Rehab 92 9% Tax Credits;
Housing California Redevelopment Agency;,
AHP; Section 8 SRO Mod
Rehab
PadreAparlments Mercy Housing, Inc. San F~ncisco Acquisition 41 CHFA Refinancing
ParkTen-ace Mercy Housing, Inc_ Yuba City Family/Rehab/Pres 80 9% Tax Credits
ervation Redevelopment
DayBmakGrove~SunrisePlace North County Housing Escondido Family/New 21 9% Tax Credits; RHCP; City
Foundation of Escondido
Hacienda Plaza Occupational Training San Diego Family/New 52 9% Tax Credits; AHP; San
Services Dieg.o Housing Commission;
Redevelopment Agency;,
McAuley Foundation; UMAC
idan Aparl3-aents Polo Alto H6using Polo Alto Senior/Rehab/ 57 9% Tax Credits;, HUD 22_3(f);
Corporation Prese~afion C~ty of Polo Alto
AdetineS~-~tApartments Resources for Community Ber~aley Special Needs/New 19 9% Tax Cre(~l:s;City of
Development Construction Berkeley
Low Income Housing Tax Credit Syndication
_aeksideApar~'nents Resources for Community Albany Family/New 16 4% Tax Credits; CHFA Tax
Oevelopment Exempt; AHP; HCD
The Harrison Resources for Community Oakland SRO/Rehab 82 9% Tax Credits; Section 8
Development Shelter Plus Care; HOPWA
Brentwood Apartments Rural California Housing Brentwood Family/New 28 9% Tax Credits; AHP; 'RHCP;
Corporation Redevelopment Agency;'
McAuley Foundation; UMAC
Norwood Apartments Sacramento Housing and Sacramento 'Family/Rehab 28 9% Tax Credits; Family
Redevelopment Agency Housing Demo. Program
The Shasta Sacramento Housing and Sacramento SRO/Rehab 94 9% Tax Credits; CHRP;
Redevelopment Agency Redevelopment Agency
River Gardens Esta~-' Sacramento Mutual Sacramento Family/Rehab 125 9% Tax Credits; HUD
Housing Association Property Disposition; AHP;
Redevelopment Agency
MissionTe~-ace San Diego Interfaith San Diego Family/New 77 9% Tax Credits; HOME; San
Housing Foundation Diego Housing Trust Fund
Marina Helght~ Solano Affordable Vallejo Family/Rehab/ 152 4% Tax Credits; HUD Section
Housing Foundation Preservation 223(a)(7); B Bonds; HUD T'~Je
Manna YL~a I & Ii Solano Affordable Vallejo Family/Rehab/ 236 4% Tax Credits; HUD Section
Housing Foundation Preservation 223(a)(7); B Bonds; HUD Title
Cordova Village South Bay Community Chula Vista Family/New 40 9% Tax Credits;
Services Redevelopment Agency;, City
of Chula CHFA
TmlleyTen-ace South Bay Community Chula VL~a Family/New 18 9% Tax Credits;AHP;
Services (Limited Equity Redevelopment Agency
Cooperative)
A~gelus Inn SRO Housing Corporation Los Angeles SRO/Rehab 30 9% Tax Credits; SUHRP;
Redevelopment Ag.ency
EIEs Hotel SRO Housing Corporation Los Angeles SRO/Rehab 50 9% Tax Credits;
Redevelopment Agency
Regal Hotel SRO Housing Corporation Los Angeles SRO/Rehab 71 9% Tax Credits; SUHRP;
Redevelopment Agency
The Courtland SRO Housing Corporation Los Angeles SRO/Rehab 95 9% Tax Credits; City of Los
Angeles; Redevelopment
Agency
Ward Hotel SRO Housing Corporation Los Angete~ SRO/Rehab 71 9% Tax Credits; SUHRP;
' "Redevelopment Agency
EiF~ Street Tenderloin Neighborhood San Frandsco Acq/Rehabl 25 9% Tax Credits; HO'RNA:
Dev. Corp. Homeless Youth AHP; City of San Frandsco;
CHFA Bddge Loan
.,wnia Manor Tenderloin Neighborhood San Frandsco Acq/Rehab/Preserv 133 4% Tax Credits;
Development Corp. ation Redevelopment Agency
Maria Manor Tenderloin Neighborhood San Francisco Acq/Rehab/Preserv 1 t9 4% Tax CreditS;
Development Corp. ation Redevelopment Agency
~ Cali/omia Hou,sin§ Paztnezship Corporation Revised April 2001 Pa~e 3
Low Income Housing Tax O'edit Syndication
The An: Aparfr~ents The Arc San Frandsco San Frandsco Developmentally 9 4% Tax Credits; CHFJA Tax
Disabled/New Exempt; AHP; City of .San
Ffandsco
CALIFORNIA HOUSING PARTNERSHIP CORPORATION
Financial/Development Consulting Services - Project List
Title !1 and Title VI Preservation Programs
Greenwood Gardens A Community of Friends Montebello Family/Acquisiton. 40 HUD/LJHPRHA; Capital Grant
Cedar Gardens ACL. Q Inc Fresno Family/Acquisiton 146 HUD/UHPRHA; (Capital Gr~nt)
The Meadows Amador/Tuolumne Jackson Family/Acquisition 32 HUD/UHPRHA; 241 (f)
Community Action
Agency
Prince Hall Bethel A.M.E. ChUrch San Francisco Family/Rehab 92 HUDAJHPRHA; Capital Grant
Park Lane Apartment' ' Burbank Housing Petaluma Family/Acquisiton 90 HUD/IJHPRHA; 241(f);
Development Cbrporation Tax-Exempt Bo~ds
San Tomos Gardens Catholic Charities of Santa Campbell Family/Acquisitioq 100 HUDAJHPRHA; 241(f);
Clara County Tax-Exempt Bonds
Slen-a~a Catholic Charfdes of SanTM Mountain View Family/AcquiSition 34 HUD/LIHPRHA; 241(f);
Clara County Tax-Exempt Bonds
Los Robles de Cortez Community Housing of ~--ta Family/Acquisiton 76 HUD/LIHPRHA; Capital Grant
North County
--~ayViilas Community Housing of Poway Family/Acquisition 60 HUD/LIHPRHA; Capital Grant
North County
TumagainAm~ Community Housing of Fallbrook Family/Acquisition 80 HUD/L1HPRHA; Capital Grant
North County
Eden HouseApartmerrts C~EDO Richmond Family/Acquisition 116 HUD/IJHPRHA; Capital Grant
Ememon A~ns Eden Housing Martinez Family/Acquisition 32 HUDAJHPRHA; 241 (f)
Parkwood Mam~ Esperanza CHC Los Angles Family/Acquisiton 16 HUD/1JHPRHA; Capital Grant
Hollywood West Hollywood West TAC Los Angeles ' Family/Acquisition 84 HUO/UHPRi'IA; Capital Grant
LasCasas Las Casas Tenant San Gabriel Family/Acquisition 14 HUD/UHPRHA; Capital Grant
Assodation
BeverlyManor Long Beach Affordable Los Angeles Family/Acquisition 59 HUD/LIHPRHA '
Housing Corp.
Gra:e Manor Long Beach AffOrdable Caren FamilY/Acquisition 38 HUD/UHpRHA
Housing Corp.
Cannon Apartments Los Angeles County Los Angeles
ReXible
Family/Rehab
35
HUD/ELJHPA;
Subsidy
Comm. Dev. Comm. County
Los Robles Los Robles Resident Union C~cy FamilY/Acquisition 140 HUD/UHPRHA; Capital Grant
Association; Ecumenical
Assodation for Housing
_s~ion Plaza Mission Plaza Tenant's Los Angeles Fam~y/Acquisition 132 HUD/EUHPA; 241(f);
Tax-Exempt Bonds; HUD
Assodation
Flexible Subsidy Loan
Foster Avenue National Housing Mi.nistry Baldwin Park Family/Acquisition . 40 HUDAJHPRHA
TrUe !! and Title VI Preservation Programs
Su Casa North Coast Housing, lnc_ Endnitas Family/Acquisition 30 HUDAJHPRHA
l~a,,~[t Plaza Oakland Community Richmond Family/Acquisition 58 HUD/LIHPRHA; Capital Grant
Housing
BarmttTerrace Oaldand Community Richmond Family/Acquisition 115 HUDAJHPRHA; Capital Grant
Housing
AmstraderoPark Paio Alto Housing Palo Alto Family/Acquisition 65 HUDAJHPRHA; 241(f); Tax-
Corporation Exempt 8onds
~ PicoaJnio9 Housing Corp. Los Angeles Family/Acquisition 75 HUDAJHPRHA; Capital Grant
M'ramarAparlrnems Pico-Union Housing Corp.' Los Angeles Family/ACClUiS~on 49 HUD/UHPRHA; Capital Grant
Sunset. Pico-Union. Hou§ing Corp. Los Angeles Family/Acquisition 86 HUD/UHPRHA; Capftal Grant
Hollywood Parkview PicodJnion Housing Los Angele~ Family/Acquisition 32 HUDAJHPRHA; Capital Grant
Corporation
Lance ~ Rural California Housing SaQ'amento Family/Acquisition 76 HUD/UHPRHA; Capital Grant
Corporation
Foothill Plaza Sacramento Mutual Sacramento Family/Acquisition 100 HUD/UHPRHA; 241 (f)
Housing Assodation
"~rth Park SeE-Help Enterprises Oildale Family/Acquisition 104 ~UD/1JHPRHA; Capital Grant
meViilage Solano Affordable Suisun Family/Acquisition 106 HUD/IJHPRHA; 241 (f)
Housing Foundation
Charles Apartments South County Housing Marina Family/Acquisition 105 HUDAJHPRHA; Capital Grant
Cypress Gardens South County Hdusing Marina Family/Acquisition 96 HUDAJHPRHA; Capital Grant
DeweyApartmen~ Stockton, City of Stodcton Family/Acquisition 10 HUD/LIHPRHA; 241(0
The H'darita - Tiburon Ecumenical Tiburon Family/Acquisition 102 HUDAJHPRHA; 241Jf); CHFA;
AssodatiorVHilarita Tax-Exempt Bonds
Residents Assodation
r~ CALIFORNIA HOUSING PARTNERSHIP CORPORATION
Financial/Development Consulting Services - Project List
Miscellaneous Financial Programs
ParkV'dlacje APSARA Stoc~on Family/Rehab 228 HUD Property Disposition;
Tenant Purchase
525 O'Faneil Street Asian, Inc. San Frandsco Family/Rahab 26 CHRP; Redevelopment
Agency
F. udid Street Bungal°w Ci~ Heights community San Diego Family/Rehab 11 HOME; AHP
Development Corp.
1038 Second Street Community Corporation Santa Monica Family/Rehab 16 CHRP; City of Santa Monica
of Santa Monica
Clark Street Properties EPA CAN" DO East Palo Alto' Acquisition/Rahab 15 County of San Mateo; USC;
HUD CHDO TA; AHP
340 South Reno HomeAid Los Angeles' Familyfl~ehab 46 SAMCO; CDBG
TymllaGardens Mid-Peninsula Housing Mountain View Family/Rahab 56 HUD Secl~on 236; CHRP;
Coalition -. CDBG
S~mersetApam'nents Northern Valley Catholic Redding Family/Rahab 12 HUD Section 8, Project-Based;
Sodal Services ' AHP: City of Redding
-~avillas San Diego Family/Acquisition 100 San Diego Housing
Occupational
Training
Services Commission
OakManor Palo Alto Housing Palo Alto Family/Rehab 33 CHFA; CDBG
Corporation
Presioca Villas San Diego Interfaith Spring Valley .. Family/Acquisition 94 San Diego County;. HOME;
Housing Foundation RTC
Van Dyke Apar~-ma~ts San Diego Neighborhood San Diego Family/Acquisition 14 San Diego Housing Trust
Housing Svcs. Fund; RTC
Oakland Residential Care 128 Ford Foundation; ~roperty
Spanish-Spealdng
Unity
Council Facility/Property Disposition Assistance ' '
Disposition
F
.~ ~l;f-an~ l~ou.~n~ I~artne.~h~ Coz'Dora~ion ~ A~r'il ~ Pa~'e 1
GUBB & BARSHAY LLP
Fifty California Street, Suite 3155
San Francisco, CA 94111
415-781-6600
Firm Resume
Gubb & Barshay LLP has extensive experience with all types of affordable housing
programs, including tax-exempt bonds, HUD programs, elderly and spedal needs housing,
and state and local programs. The firm also has substantial experience with the federal and
state housing tax credit programs, and has been involved in the structuring and closing
of over 150 low income housLng tax credit syndications in California and other states. This
work has involved drafting limited partnerships, analyzing finandal projections,
negotiating with investors, and structuring transactions to maximize funding potential.
The firm has also acted as lender's counsel in affordable housing matters to Wells Fargo
Bank, Rural Community Assistance Corporation, Mercy Housing Fund, and LIMAC,
among others.
Natalie L. Gubb
Ms. Gubb is a partner in the firm of Gubb & Barshay LLP with an emphasis of practice in
affordable housing:, real estate and tax matters and tax credit syndications. Ms. Gubb
drafted initial for the California low income tax credit and
the
legislation
program
revisions to the state tax credit and allocation laws. She also acted as consultant to the
California Tax Credit Allocation .Committee on the annual allocation program. She has
structured many syndications of affordable housing projects kn California and other states,
· using state and federal tax credits..
"
Education: Graduated from Simmons College in 1970 with a B.A. degree in Mathematics
and Economics. Received a Masters Degree in Public Administration from the State
University of New York at Stony Brook in 1974. Received J.D. degree from Boalt Hall
School of Law, University of California, Berkeley, 1981.
Scott R. Barshay
Mr. Barshay is a partnerin the firm specializing in affordable housing:, real estate and tax
matters, syndications, and nonprofit law. He has assisted lenders in analyzing
underwriting risks, documenting transactions and negotiating favorable loan provisions.
He also has been involved in structuring numerous syndications and advising clients, on
tax, fair housing, and relocation matters.
Education: Graduated from Duke University in 1981, summa cum laude with an B~A.
deg-ree in Economics. Member of Phi Beta Kappa. Received J.D. from Harvard University
Law School in 1985, cum laude.
Leslie B. Trutner
Ms. Trutner is assodated with the firm, specializing in affordable housing finance, real
estate, and munidpal law matters. Ms. Trutner was previously a Deputy City Attorney for
the City ..and County of San Francisco for nine years, and represented the City in affordable
b. ousing development and-finance transactions, real estate .matters, and economic
development programs. During that period she also worked closely with numerous
community-based nonprofit entities.
Education: Graduated from the University of California, San Diego, in 1984 with a B.A. in
English and French literature. Received J.D. from UCLA School of Law in 1987.
PRINCIPAL/ NO. YEAR ~N YEARS IN
'PRO]"ECT NAIVIE OF SERVICE pARTICI- DEF~ULT-~
lin all c~ the ~ow~mnental a~ncy was UNITS PATION. FORECLOSURES
Calif. Tax Credit Allocation Committee.]
ASIAN, Inc.
Minna Street, San Francisco 24 1994 1993-1995 None
BRIDGE Housing Corp. ·
YWCA/Villa Nueva, San Jose 63 1993 1993-1994 None
t~ichmond City Center, Richmond 64 1993 1993-1994 None
Fell Street, San Francisco 82 1994 1993-1995 None
Calistoga, Calistoga 48 1993 1993-1994 None
Winfield, San Jose 144 1994 1993-1995 None
Pinole, Pinole 70 1994 1993-1995 None
Santa Alicia, Irvine 84 1996 1994-1997 None
Strowbridge, Castro Valley 96 Not Yet 1995- None
Ohlone, San Jose 135 Not Yet 1995- None
Rotary Valley, Lucas Valley 80 Not Yet 1996- None
Metro Senior, Foster City 60 1996 1994-1997 None
ank Housing Dev.
East Cotati Avenue, Rohnert Park 50 1993 1993-1995 - None
Forest Winds, Santa Rosa 48 1994 1993-1995 None
Lavell Village, Larkfield 48 1996 1993-1995 None
The Gardens, Rohnert Park 20 1996 1994-1997 None
John Chandler
Monte Vista, Glendale 10 1994 1993-1995 ~. None
Chic° Housing Imp.
Program
Campbell Commons, Chico' 55 1995 1993-1996 None
Hazel Hotel, Gridley ~ 56 Not Yet 1996 None
Chinese Community
Housing Corp.
Larkin/Pine. San Francisco 63 1994 1993-1995 None
~/22/I
SPA
Marina Senior Hsg., Marina 40 * 1993-1994 None
Gabilan Hills, Salines 28 * 1994 None
Villa San Miguel, King City 50 * 1994
Qufiil Meadows, Carmel 6 * 1994
~ Community Housing
Opportunities Corp
I Windmere. Davi~ 48 1994 1993-1995 None
Tuscany, Davis 36 1993 1993-1994 None .
Holly Court, W. Sacramento : 40 1995 1993-1996 None
Il Antelope, Antelope 140 1995 1993-I996 None
Hotel Woodland, Woodland 76 1995 1993-1996 None
I Coachella Valley
Housing Coalition
Tlaquepaque, Coachella 76 1994 1993-1995 None
Nueva Vista. Mecca 32 1994 1993-1995 None
Miles Avenue, Indio 36 1996 1994-1997 None
Pasco del los Poetas, Mecca 21 Not Yet 1996- None
rd House
~ Lyric Hotel, San Francisco* 58 Not Yet 1995- None
Contra Costa Count~
[ Housing Authority
~'Casa del Rio. Antioch ' 82 1996 1994-1997 None
CREDO Housing Inc.
W'oodrow H~tel, Oakland 72 1995 1993-1996 None
Hamilt0n Hotel, Oakland 92 I996 1994-1997 None
Decro Corporation
.
Nordhoff Apartments, Los Angeles : 38 Not Yet 1996-1997 None
: Delancev Street
FoUnda'tion
Midtown Gardens, Los Angeles 205 1995 1993-1996 None
[-
[ ~' .- ',o!fice\pr~ chrl:.
_ .BayAsian
Local Dev. Corp.
East 14th Street, Oakland 90 1995 1993-1996 None
Eden Housing, Inc.
Washington Creek, Petaluma 32 1993 1993-I994 None
A Street, Hayward 36 1993 1993-1994 None
Berry Avenue, Hayward 50 1994 1993-1995 None
Corona Ranch, Petaluma 74 1994 1993-1995 None
I Eden Palms, San Jose " 145 1996 1994-1997 None
Catalonia, San Jose 50 1995 1993-1996 None
-' None
F'wst Sa~ Jose Hsg.
i Rincon de los
Esteros. San Jose 246 1994 1993-1995 None
J James Fusselman
Sunshine. Fresno 14 1995
1993-1996
None
I L.A. Family Housing
' ~oration
I Vineland Place, Los Angeles 18 1995 1993-1996 None
Alabama Court, Los Angeles 42 i996 1994-1997 None
Vanowen Gardens, Los Angeles 15 Not Yet I995-1997 None
i Harmony Gardens, Los Angeles 14 Not Yet 1995-1997 None
La Habra Neighbor-
hood Services
i Garnet Lanel Fullerton 18 Not Yet i996-1997 None
Walnut Avenue, Brea 47 Not Yet 1996-1997 None
Many Mansions
Community Homes, Thousand Oaks , 11 Not Yet 1996- None
F: \of fice\urjchr=, ls=
5/22/1
t,._ccy/Charities
Homing California
1028 Howard Street, San Francisco 30 . 1995 1993-1996 None
i i0I Howard Street, San Francisco 34 1994 1993-1995 None
205 Jones. San Francisco 50 1996 I994-1997 None
Hobson Way. Oxnard 64 1996 1994-1997 None
School and Bruno, Daly City 47 Not Yet 1995- None
Vista Grande, Daly City 24 1996 1994-1997 None
Rose Hotel. San Francisco 75 1996 1994-1997 None
Sycamore, Santa Cruz 60 Not Yet I995- None
3rd & Reed, San Jose · 53 1994 1993-1995 None
1035 Folsom, San Francisco 50 1996 1994-1997 None
Mid-Peninsula
Housing Coalition
Holy Family, San Jose 79 1993 1993-1994 None
Ginzton, Mountain View 107 1993 1993-1994 None
The Farm, Soquel 39 1993 1993-1994 None
Open Doors, Los Gatos 64 1993 1993-1994 None
Century Village, Fremont 100 1996 1994-1997 None ..
Mezes Court, Redwood City 81 Not Yet 1995- None
Gloria Way, E. Palo Alto 40 1996 1994-1997 None
· ~hy's, Watsonville 18 1996 1994-1997 None
~..,am Park, Mountain view 74 1996 1994-1997 None
Pajaro Valley
Housing Coalition
Pacific Terrace, Watsonville 28 Not Yet 1996- None
Palo Alto H. ousing
Corporation
Alma Place, Palo Alto 106 Not Yet 1996- None
PAM Development, Inc
Olive Wood Apts., Sacrament° : 68 Not Yet I996-1997 None
People's Self-Help
Cawelti, Arroyo Grande 28 1996 1994-1997 None
Oceanside, Morro Bay , 21 1996 1994-1997 None
Schoolhouse Lane, Cambria 24 Not Yet 1996- None
Oak Forest, Arroyo Grande 20 Not Yet 1996- None
~. .ama Ecumenical
Projects
575 Vallejo Street. Petaluma 45 1994 1993-1995 None
579. Vallejo Street, Petaluma Not Yet 1996-1997 None
Pice-Union Housing
Corp.
Las Brisas Apts., Los Angeles 29 1993 1993-1994 None
Luisa Apartments, Los Angeles 55 1996 1993-I997 None
Mm-ina Apartments, Los Angeles 47 1995 1993-1996 None
Mercedes Apartments, Los Angeles 64 1995 1994-I 996 None
[Resources for
Community Develop.
~ 112 Alves Lane, Bay Point 14 1995 1994-1996 None
i Rural California
Housing Corp.
M_: acamas Village, Napa 51 1995 1993-1996 None
Delta Plaza, Stockton 30 1993 1993-1995 None
Florin Woods, Sacramento 70 1995. 1993-1996 None
Sacramento Housing
& RDA
i Norwood, Sacramento 28 ' 1993 1993-1994 None
~ ! Housing Authority of
...ll Santa Clara
[ Morrone, San Jose 102 1994 1993-1995 None
i Pinmore Gardens, San Jose 51 1995 1993-1996 None
HuffAvenue, San Jose 72 1996 1994-1997 None
' Klamath Gardens, Santa Clara : 17 !996 1994-1997 None
, Poco Way, San Jose 129 1996 1994-1997 None
Sacrament° MutUal
:i Housing Assfl.
,~ Greenway Village, Sacramento 54 1996 1995-1997 None
f.;.~, Sky Paxkway, Sacramento 80 1996 1995-1997 None
El Centro. Santa Cruz 44 1993 1993-1997 None
La Playa, Santa Cruz 1993 1993-1997 None
Sou~h County HoUSing
Corporation
Rustic, Hollister 20 1994 1993-1995 None
Rancho Park. Hollister 54 1993 1993-1994 None
Monterra Villa~e, Gilro~' 34 Not Yet 1996- None
The Related Com-
panies
Hillview. Glen, San Jose 138' 1994 1993-1995 None
Fillmore Marketplace, San Francisco 1996 1994-1997 None
La Mirada, La Mirada 100 1996 1994-1997 .None
Self-Help Housing
.
Solinas Village, McFarland 52 1994- 1993-1995 None
Gateway Village, Modesto 48 Not Yet 1995- None
Almond Court, Wasco 36 1996 1994-1997 None
.
'~ ...,ple Westlake
Neighborhood Dev.
Manila Terrace, Los Angeles 30 1996 1993-1997 None
Tenderloin Neighbor-
hood Dev. Corp.
Ploz~ Ramona, San Francisco 63 Not Yet 1995- None
Housing Authority
of Tulare County
Cypress Cove, Tulare 52 1994 1993-1995 None
Falrview Villageg Visa]ia ' 8 1996 1994-1997 None
Willowbrook, Visa]ia ~ 10 1996 1996-1997
Upland Community
Housing, Inc.
Coy D. Estes Senior
Apartments, Upland 130 Not Yet 1994-1997 None
512211.
ara County
Housing Authority
Colina Vista, Piru 35 1995 1993-1996 None
Unknown - withdrew from participation prior to placement in service.
DEVELOPMENT FINANCING
Per Unit Percent Total
PERMANENT SOURCES OF FUNDS
First Mortgage $10,146 6% $446,443
City of Dublin $42,776 24% $1,882,145
Affordable Housing Program $5,000 3% $220,000
9% Tax Credit Equity Proceeds $122,721 68% $5,399,718
Total SOurces $180.~648 100.0% $7.948,.306
USES OF FUNDS
Site Acquisition $0 0% $0
Construction Expenses $121,306 67% $5,337,446
Development ("Soft") Costs $59,342 33% $2,610,860
Total Uses $180..648 100% $7.948.30~
Terms of Financing
First Mortgage - This terms of the permanent financing are assumed at 8% interest, 15 years
at a debt service coverage factor of 1.15, and loan fee of 1.0%. We propose that.we use
financing from Cal Fed, which has a parmership with Wells Fargo Bank to jointly underwrite
permanent and construction financing.
City of Dublin - The terms of this loan are proposed as 30 year term with deferred interest at
a rate to be determined and residual receipts payments (contingent on cash flow). This loan
would be subordinated to the first mortgage._ The City of Dublin financing at these terms (or
similar) makes it feasible to create permanent affordable housing for very low income seniors.
The City loan fills the "gap" between the available sources and the total cost of development.
Affordable Housing Program - The standard term of this loan product is 30 years with
deferred payments as long as the housing remains affordable.
Tax Equity Proceeds - These were calculated based on the basis limits with applicable basis
boosts for features, energy efficiency, and high cost area adjustment. The estimated price is
$.82 per credit, which may be improved. The bulk of the equity pay-in will come in at the
end of construction and repay the construction loan.
Construction loan -A construction loan of $4,919,975 (not reflected above) will be required to
finance construction and soft costs. The terms are estimated at 7% interest rate (prime + 0)
and 14 months outstanding.
Cost Assumptions
Please refer to the attached Development Budget for a breakdown of Total Development
Costs (in TCAC format). Certain development line items are explained in more detail below.
Acquisition - Per City guidelines, the City and MHC will execute a ground lease for a term to
be determined, but no less than 55 years (the length of the tax credit regulatory agreement).
MHC proposes a lease rate of $1 per year to maintain an affordable and feasible development.
:
ConStruction - Construction costs were estimated at $140 Per square foot for Type V wood
frame construction plus 4% escalation to account for starting construction in Year 2003.
Construction contingency is estimated at 10%.
Constmctlon Interest and Fees -
Interest - Interest is calculated at 7% at 14 months outstanding with an average draw
rate of 60%. The construction period is assumed to be 12 months to account for the
phasing that will be required due to Senior Center construction and/or operations. An
additional two months is added for lien clearance and closing the permanent loan and
tax credit pay-in.
Loan fee - An origination fee of 0.5% is assumed.
Insurance - Insurance during the develOpment phase is an estimate °fthe cost of
liability and builder's risk insurance. Mercy purchases insurance for ail of the
properties in the Mercy system nationwide through an umbrella policy offered by
Catholic Health Initiatives worth $12 billion. This redUces the insurance premiums for
each property.
Permanent Financing Costs
Loan Fee - Assumed at 1'0%.
Title and RecOrding - Cal Fed, the proposed permanent lender, and Wells Fargo Bank,
the prOposed ConStruction lender, minimize title expenses through a joint closing with
one set of loan documents.
Legal Fees
Lender legal paid by applicant -This is an estimate of legal fees required by the
lenders and/or investor for loan document review and preparation.
Construction/Permanent Financing - This is the cost of MHC's legal counsel to
review loan documents and City ground lease agreement.
Reserves
Capitalized Operating Reserve - Tax credit investors typically require capitalized
reserves equal to 3 months of operating expenses. Capitalized replacement reserves
are Usually not reituired for new construction.
Other
Environmental Audit k_ A Phase I will be required by the lenders and investor.
Permit Processing Fees - These were calculated per the City of Dublin formulas and
include all impact fees. This amount may be reduced if fee waivers are granted.
Capital Fees - This is an estimate of the cost of utility installation and impact fees
charged by applicable utility companies and districts. This includes water, sewer,
power and phone/cable.
Marketing - This line item includes the start up costs for the property management
office and purchasing maintenance equipment. It also includes the salary Of the
Community Operations Manager and the MSC marketing fee during the lease up
period, and the out of pocket costs of marketing the apartments.
Furnishings - This is an estimate of the cost of furnishing the community room and
outdoor common area.
Construction Testing -This is an allowance for construction testing that may be
required by the City of Dublin building department.
Market Study.- This study will be required to be included in the TCAC application.
Developer Costs
Developer and Project Administration Fee -This fee of $750,000 is equivalent to
approximately 10% of the total development cost and is under the $1,000,000 fee
maximum allowed per tax credit guidelines. This fee will compensate MHC for the
cost of staffing and project managing the development from concept through lease up.
It is also intended to compensate MHC for the tax credit, operating, and completion
guaranties that MercY will have t° provide to the lenders and tax credit investor.
Total Syndication Costs - This includes the cost of legal review and negotiation of the
partnership agreement on MHC's behalf, the financial consultant to assist in securing tax
credits and negotiate the equity investment. The cost of a cost certification audit is also
included.
Operations
Dublin Senior Housing is proposed as 100% affordable housing for seniors at 40% of AMI.
At this level, a one person household earns an annual income of $20,880 and a two person
household earns $23,840 per year. In the proposed development, a one-bedroom apartment
rent is $559 per month, including the utility allowance. The apartments will be affordable at
this level for a minimum of 55 years, per the requirements of the California Tax Credit
Allocation Committee.
Please see the attached 30 year cash flow projection. The operating assumptions include:
Rental income- Rents are at 40% AMI inflating at 2.5% per year. No project based
Section 8 subsidies are available per the Alameda County Housing Authority.
However, any Section vouchers held by tenants will provide additional rental income
and surplus cash flow.
Operating expenses inflating at 3.5% per year. Operating expenses are assumed at
$4,400 per unit per annum based on Mercy Services Corporation's experience with
other senior properties of this size.
Replacement Reserve - This is a level annual deposit based on $250 per unit per year.
Operating Reserve- This is set at 3% of the year's effective gross income.
Debt - The only hard debt is the permanent loan from Cal Fed, which is underwritten
at 15 years at 1.15 DSCF.
Partnership Management Fee - This fee is based on available cash flow for the 15
years of the tax credit partnership. The fee compensates Mercy Housing for managing
the tax affairs of the partnership, completing all regulatory reporting and auditing
requirements, and asset management.
Land Rent - MHC requests a lease rate of $1 per year to keep the development
financially feasible.
Residual Receipts Payment - No payments are made until Year 16 when the
permanent loan debt service is no longer required and there is surplus cash flow. The
residual receipts payment is made to the City of Dublin.