Developing Affordable Housing A Practical Guide for Nonprofit Organizations

ISBN-10: 0471743461

ISBN-13: 9780471743460

Edition: 3rd 2006 (Revised)

Authors: Bennett L. Hecht

List price: $190.00
30 day, 100% satisfaction guarantee

If an item you ordered from TextbookRush does not meet your expectations due to an error on our part, simply fill out a return request and then return it by mail within 30 days of ordering it for a full refund of item cost.

Learn more about our returns policy

Description:

Updating the practical advice and regulatory information found in the second edition, Developing Affordable Housing, Third Edition provides the cutting-edge tools and strategies to create long-term stability and meet community housing needs. This practical, hands-on guide to real estate development provides comprehensive coverage of the entire development process, including putting together the development team, determining feasibility for the project, financing, budgeting, long- and short-term financing, and permanent loans, purchase contracts, as well as obtaining site control and establishing the ownership entity, rehabilitation and/or construction, and real estate management for nonprofits. The new edition updates sources of capital (public housing funds), provides all new case studies, and offers new information on loans and assessing the feasibility of affording projects.
what's this?
Rush Rewards U
Members Receive:
coins
coins
You have reached 400 XP and carrot coins. That is the daily max!
Study Briefs

Limited time offer: Get the first one free! (?)

All the information you need in one place! Each Study Brief is a summary of one specific subject; facts, figures, and explanations to help you learn faster.

Add to cart
Study Briefs
Periodic Table Online content $4.95 $1.99
Add to cart
Study Briefs
Medical Terminology Online content $4.95 $1.99
Add to cart
Study Briefs
Medical Math Online content $4.95 $1.99
Customers also bought
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading

Book details

List price: $190.00
Edition: 3rd
Copyright year: 2006
Publisher: John Wiley & Sons, Incorporated
Publication date: 5/1/2006
Binding: Hardcover
Pages: 840
Size: 7.50" wide x 10.00" long x 1.75" tall
Weight: 3.432
Language: English

BEN L. HECHT is an experienced nonprofit executive, author, and social entrepreneur. He founded One Economy Corporation in 2000 to bring the power of the Internet and the economic mainstream to low-income families living in affordable housing across the country. In five years, One Economy has earned the support of America's leading foundations and corporations, brought high-speed Internet to $2 billion of newly constructed affordable housing, and helped more than eight million low-income people to help themselves at www.theBeehive.org. In 2005, One Economy also began working abroad in South Africa and Jordan. Immediately before One Economy, Mr. Hecht was senior vice president at the Enterprise Foundation. Mr. Hecht received his JD from Georgetown University Law Center and his CPA from the state of Maryland. For ten years, he taught at Georgetown University Law Center and built the premier housing and community development clinical program in the country. In addition to Developing Affordable Housing, Mr. Hecht has cowritten two other books, ManagingNonprofits.org with Rey Ramsey and Managing Affordable Housing: A Practical Guide to Creating Stable Communities, both published by Wiley.

Getting Started
Developing Affordable Housing in the Twenty-First Century
Introduction
The Current State of America's Affordable Rental Housing
The State of America's Working Poor Seeking Affordable Housing
Current Trends in Affordable Housing
Unique Opportunities for Nonprofit Organizations: Rental and Homeownership
The Real Estate Development Process for Nonprofit Organizations: An Overview
Nonprofit Organizations and the Real Estate Development Process
An Overview of the Real Estate Development Process
Addressing the Specific Needs of a Community and a Specific Project Site
Establishing the Development Team
In General
The Sponsor
The Financial Development Specialist
Attorneys
Accountant/Bookkeeper
Architect
Property Management Company
General Contractor
Construction Manager
Community Organizer
Appraiser
Conflicts, Multiple Roles, and Oversight
Projecting Costs, Income, and Expenses
Project Feasibility and Total Development Costs
Project Feasibility Defined
Determining Preliminary Project Feasibility
Estimating Total Development Costs
Sample Letter of Value
Summary of Key Federal Regulations Governing Underground Storage Tanks
Summary of Relevant Laws and Regulations Governing Lead-Based Paint
Determining Projected Income and Expenses
Introduction
Projecting Income-Generally
Identifying Targeted Income Levels
Determining Affordability as a Percentage of Income and Market Rents
Income from Nonresidential Use
Projecting Expenses-Generally
Evaluating Past Operating Expenses
Projecting Expenses Where No Operating History Exists
Allowances and Reserves
The Role of Lenders
Controllability of Expenses
Raising Capital
Raising Capital to Meet Total Development Costs
Introduction
Sources of Capital-Generally
Loans
Grants
Equity and Sales Proceeds
Example of an Amortizing Loan
Example of a Nonamortizing Loan
Sources of Capital: Loans
Who are Possible Lenders?
Sources of Loan Funds from Public Lenders-Generally
Sources of Loans from State and Local Governments
Sources of Loans from the Federal Government
Sources of Loan Funds from Private For-Profit Entities
Sources of Loan Funds from Private Nonprofit Entities
501(c)(3) Bond Terminology
List of Local CDFI Organizations Financing Housing
Sources of Capital: Grants
Grants from the Federal Government
Grants from State and Local Governments
Grants from Private Nonprofit Foundations
Grants from For-Profit Corporations
Sources of Capital: Equity
Creation of an Equity Fund for Housing Development
Use of the Low-Income Housing Tax Credit
Other Equity Sources
Tax Credit Information Resources List of State and Regional Tax Credit Equity Funds
Partial Listing of Low-Income Housing Tax Credit Tax Syndicators
Sources of Capital: Public Housing Funds
How Public Housing Resources Contribute to Affordable Housing
Mixing Public Housing Capital with other Capital: Mixed Finance
Uses of Public Housing Funds in Mixed-Finance Transactions
Considerations in Mixing Public Housing Development Funds with other Sources of Affordable Housing Funds
Elements of Public Housing Development Transactions
Conclusion
Enhancing Feasibility and Packaging the Project
Enhancing the Feasibility of an Affordable Housing Project
Increasing Access to Capital-Credit Enhancement
Increasing Access to Capital-Loan Sales on Secondary Market
Reducing Total Development Costs
Increasing Income
Reducing Operating Expenses
Developing the Project Feasibility Report: Six Case Studies
Introduction
The Feasibility Report and Financial Pro Formas
The Development of Affordable Housing: Six Case Studies
Conclusion
The Whitelaw Reference Information
Friendship Court Reference Information
Garden Terrace Reference Information
The View Reference Information
Kentucky Mountain Housing Reference Information
Lease-Purchase Reference Information
Purchasing and Developing the Property
Securing Site Control over the Property: Signing the Option or Purchase Agreement
Introduction
Site Control Must Be Secured in Writing
The Use of Purchase Contracts
The Use of Options
Documents Pertaining to Purchase Contracts
Documents Pertaining to Option Agreements
Prepurchase Considerations
Introduction
Applying for Financing and Operating Subsidies
Determining the Ownership Entity-Generally
Determining the Ownership Entity-Corporations
Determining the Ownership Entity-Partnerships
Determining the Ownership Entity-Factors
Establishing the Ownership Entity: Divided Ownership and Leasehold Interests
Interviewing and Selecting the Management Company
Developing Plans for Renting or Selling Units
Monthly Management Reports
Partnerships and Joint Ventures
Issues Concerning Organization's Tax-Exempt Status
Options for Structuring the Relationship
Partnerships and the Use of the Low Income Housing Tax Credit
Joint Venture Checklist
In General
Board Involvement
Day-to-Day Management
Purchasing the Property: Settling on Acquisition
The Settlement Process-Generally
The Role of the Settlement Agent
Title Insurance
Selecting the Settlement Agent
Preparing for Settlement
Settlement
Postsettlement
Lender Requirements
Governmental Regulations
Settlement Checklist and Sample Documents
Constructing or Rehabilitating the Property: Settling on the Construction Loan and Surviving the Construction Process
Introduction
Settling on the Construction Loan
The Construction Process-The Participants and Their Responsibilities
Technology in 21st Century Affordable Housing Construction and Rehabilitation
Negotiating the Construction Contract and Bidding
Elements of the Construction Contract
Rehabilitating an Occupied Property
Completion of Construction
Construction Process Checklist and Sample Contractor Agreements
Selective Rehabilitation
Overview
Introduction to Selective Rehabilitation
Managing Selective Rehabilitation: Formal Versus Informal Approaches
Implementing a Formal Approach to Selective Rehabilitation: The Rehabilitation Specialist
Choosing A Property for Selective Rehabilitation: Building Inspection Techniques of Rehab Specialists
Conceptualizing the Project: Rehabilitation Standards
Designing the Project: Work Write-Ups and Cost Estimates
Computerized Specification-Writing and Estimating Systems
Defining Methods and Materials: Performance Specifications
Selective Rehabilitation and Construction Management
Selective Rehabilitation and the Contractor Pool
The Role of Government Agency/Public-Purpose Organizations in Selective Rehabilitation
Avoiding Gut Rehabilitation: Tips of the Trade
Improving Energy Efficiency in Selective Rehabilitation
Dealing With Lead-Based Paint Hazards in Selective Rehabilitation
Dealing With Other Recurring Health and Safety Issues in Selective Rehabilitation
Applying Construction Codes and Existing Housing Codes to Selective Rehabilitation
Standards Issues with Funders and Selective Rehabilitation
Information Sources and Tools for Selective Rehabilitation
Sample Documents Regarding Rehabilitation
Completing and Managing the Property
The Project Completion Phase: Completing the Development and Maintaining an Ownership or Rental Community
Introduction
Settling on the Permanent Loan
Maintaining a Rental Property
Developing Additional Resident Services As Part of a Comprehensive Property Management Plan
Key Points on Setting Performance Standards for Comprehensive Property Management
Key Points on Deciding Whether to Contract for Management or Manage Directly
Key Points on Selecting a Good Management Company
Key Points on Evaluating Property Management Performance
Financial Management of Rental and Multifamily Homeownership
Converting the Property to Homeownership for Residents
Managing and Budgeting for Rental or Multifamily Ownership
Sample Documents and Disclosure Statements
Index
×
Free shipping on orders over $35*

*A minimum purchase of $35 is required. Shipping is provided via FedEx SmartPost® and FedEx Express Saver®. Average delivery time is 1 – 5 business days, but is not guaranteed in that timeframe. Also allow 1 - 2 days for processing. Free shipping is eligible only in the continental United States and excludes Hawaii, Alaska and Puerto Rico. FedEx service marks used by permission."Marketplace" orders are not eligible for free or discounted shipping.

Learn more about the TextbookRush Marketplace.

×