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Meeting Agenda

Columbia Cascade Housing Corporation Board of Directors Meeting

August 28th, 2017, 2017 500 East 2nd Street

The Dalles, OR 97058 10:00 AM

Please call 541-296-5462 or email joshs@mid-columbiahousingauthority.org to confirm attendance 48 hours prior to the meeting.

Call information: 712-432-0900 Access Code: 931754

Please let us know if auxiliary aids are needed for you to participate in the meeting

Agenda • Call to Order – Chair Scott McKay

• Roll Call

• Establish a Quorum • Requests to add items to the Agenda • Request for Public Comments

• Executive Session ORS.192.660 • Action Items

• Minutes • Non Action Items

• Director’s Report • General Fund Report

Balance Sheet Budget Comparison

• Asset Management Dashboard

• Housing Resource Center Report Balance Sheet Budget Comparison

• Property Manager Report

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Columbia Cascade Housing Corp Board of Directors Meeting

July 24, 2017 500 E 2nd St.

The Dalles, Oregon Attendance Board: Scott McKay, Scott Clements

Phone: Randy Holmstrom, Jamie Tolfree Staff: Joel Madsen, Jodi Wetherbee, Richard Morrow, Dave Peters, Josh Sendejas

Welcome Meeting opened at 11:10 am. Executive Session LUBA Appeal Executive Session began at 11:12 and ended at

11:23 Minutes The minutes from the May board meeting were

reviewed with no errors. Motion by Mr. Holmstrom to approve the minutes as presented. Mr. Clements seconded the motion. Motion passed unanimously.

White Cap White Cap apartments had been struggling financially. There were three areas of concern: High vacancy rate, the lack of Project Based Rental Assistance and a high annual replacement reserve deposit requirement. CCHC entered in to a “Work-Out Plan” in June of 2016 with USDA RD. The “work-out plan” deferred replacement reserve payments for 24 months and USDA RD provided 6 units of project based rental assistance. These changes have had a positive impact on improving occupancy and the financial outlook for White Cap. Replacement reserve payments will resume in June of 2018. CCHC has negotiated a modification of the replacement reserve requirement with USDA RD that it feels is more in line with the size and financial viability of the property. Our previous annual required replacement reserve payment was $19,748. The new modified loan resolution will reduce the replacement reserve requirement to $11,500 annually. Motion by Mr. Clements to approve Joel Madsen to authorize loan resolution for White Cap. Motion seconded by Ms. Tolfree. Motion passed unanimously.

Revolving Capital Fund Recently, CCHC has been in touch with Wasco County and The City of The Dalles about various pieces of land that may be available at some

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point for purchase. Staff would like Board approval to authorize the Executive Director, Joel Madsen, to use the Revolving Capital Fund to purchase land at his discretion, up to the current balance of the Fund. Motion by Mr. Clements to allow Joel discretion upon staff recommendation to invest these revolving funds. Motion seconded by Mr. Holmstrom. Motion passed unanimously.

Lot 700 Predevelopment The decision has come to whether CCHC should move forward with predevelopment of Lot 700. It is Joel’s recommendation to move forward with predevelopment budget of $200,000. Motion by Mr. Clements to allow this budget. Motion seconded by Mr. Holmstrom. Motion passed unanimously.

Executive Session Motion CCHC to act as intervener on LUBA appeal. Motion by Ms. Tolfree to approve CCHC as intervener. Motion seconded by Mr. Holmstrom. Motion passed unanimously.

Adjourned 12:18 pm

Submitted Joshua Sendejas

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Memorandum for the Record To: CCHC Board of Directors From: Joel Madsen Subject: Director’s Report Date: August 28th, 2017 Outreach and Community Engagement of Significance

• Attended Neighborhood Partnership Board of Directors meeting in Portland. • Presented to the Oregon Chapter of the American Planning Association on the integration of

housing affordability in local planning efforts. • Met with staff members from Senator Merkley’s office at Hood River Crossing • Attended Hood River’s Westside Area Concept Planning meeting

Operational Updates

• The new website is now up and running • Obtained a more efficient copy machine for the office • Attended a pre-bid meeting in Hood River for Lot 700 • Participated in HARRP Affirmatively Furthering Fair Housing Webinar

CCHC - Development Updates o Hood River 1 (HR1)

o Hood River County has acquired a parcel which they are ‘land banking’ for future development opportunities.

o We continue discussions with Hood River County officials on development strategies and role for MCHA/CCHC.

o The parcel is located within the Transportation Growth Management planning grant area (Westside Plan); an area of Hood River where the City is placing a ‘microscope’ on land use and zoning. This Westside Area Planning effort is currently underway.

o Hood River 2 (HR2) o The City of Hood River Council has directed city staff to pursue disposition of lot 700 to

CCHC for the purposes of affordable housing development. Lot 700 is an approximate 5 acre parcel located north of the Skate Park and south of interstate 84.

o City Council formally passed ordinance 2041 June 2017 approving the rezone request from Open Space/Public Facilities (OS/PF) to Urban High Density Residential (R-3) subject to conditions.

o Carson Land Acquisition o CCHC holds title on 7 acre parcel in Skamania County. o Staff, in conjunction with potential development consultant, submitted Stage 1 application

to Washington State Housing Trust Fund. o White Salmon Assisted Living (WS ALF)

o Staff continues to explore feasibility and land acquisition proposal for development site. o Staff has engaged professional services for conceptual site and building plan o Option to purchase has been delivered to the Sellers and Sellers did not accept initial option.

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CCHC General Fund Balance Sheet (With Period Change)

June-17

Notes: NBB - no beginning balance 1. Other Restricted Funds consist of the following numbers 2, 3, and 4 and their correlating A/P's below.

The total in Other Restricted Funds also shows up in Net Assets as Unrestricted Designated. 2. These are Operating Reserve funds for Celilo Garden held in the GF

3. These are grant funds for resident services held within the GF 4. These are grant funds from Meyer Memorial Trust held within the GF 5. The funds here occur because some grant funds for Housing Resource Center programs are direct-deposited into the GF

Balance Balance Net % of

Notes 6/30/2017 5/31/2017 Change Beg. Balance

Assets Current Assets

Cash 762,338 782,349 -20,011 97%

Cash - Unrestricted Reserves 732,546 506,058 226,488 145%

Prepaid Expenses 0 -8,117 8,117 0%

Grants Receivable 26,618 -6,558 33,176 406%

Accounts Receivable

Mid-Columbia Housing Authority (MCHA) 1,946 1,946 0 100%

Sagewind Manor Apartments (SWM) 12,066 13,223 -1,157 91%

Greater Gorge Community Housing LLC (GGCH) 854 854 0 100%

Cascade Meadows Senior Apartments (CMSA) 18,104 20,286 -2,181 89%

White Cap Apartments (WCA) 0 3,267 -3,267 0%

Carson Springs Apartments (CAR) 13,502 13,502 0 100%

Accounts Receivable - External 46,472 53,078 -6,605 88% Mosier Creek Terrace Apartments (MCT) 11,065 14,179 -3,114 78%

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Housing Resource Center (HRC) 0 12,575 -12,575 0% Goldendale Stepping Stones Apartments (GSS) 0 514 -514 0% Rose Garden Apartments (RGA) 8,252 5,032 3,220 164% East Hill Village (EHV) 0 1,056 -1,056 0% Bridges of Klickitat County (BKC) 0 543 -543 0% Casa Lomas Apartments (CLA) 0 1,937 -1,937 0% Oregon Trail Youth Apartments (OTY) 5,529 6,018 -489 92% Celilo Garden Apartments (CGA) 0 636 -636 0% White Salmon Seniors Apartments (WSS) 0 -201 201 0% Heritage Heights Apartments (HHA) 0 1,582 -1,582 0% Columbia Cascade Housing General Fund (CCHC GF) 134,497 134,497 0 100% Accounts Receivable - Internal (Properties inc. GF) 159,343 178,368 -19,025 89% Ryan Allen Development 9,573 8,223 1,350 116% Hood River Mixed Development 6,000 6,000 0 100% Klickitat County Mixed Development 10,627 10,627 0 100% Stevenson Mercy Housing Development 2,852 2,852 0 100% Sherman County Development 448 448 0 100% Carson Land Development 3,607 3,607 0 100% Columbia View Hood River (Formerly Queen's Heights) 240 240 0 100% Lot 700 95 29 66 328% The Dalles LIFT 2,500 2,500 0 100% White Salmon Assisted Living Facility (WSALF) 2,870 2,870 0 100% Accounts Receivable - Internal (Development) 38,812 37,396 1,416 104%

Total Accounts Receivable 244,627 268,842 -24,214 91%

Total Current Assets 1,766,129 1,542,574 223,556 114% Other Assets

Accounts Receivable - Partnerships

West Park Orchards Apartments (WPO) - aka West Park Seniors (WPS) 61,790 58,629 3,161 105%

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Hamilton Park Apartments (HPA) 30,927 30,927 0 100% Rio Bella Apartments (RBA) 64,221 9,837 54,384 653% Hood River Crossing Apartments (HRCr) 27,770 27,770 0 100% West Park Place Apartments (WPP) 540,439 502,040 38,399 108% Pueblo Del Rio Apartments (PDR) 38,811 36,013 2,798 108% Accounts Receivable - Partnerships 763,958 665,216 98,742 115%

Notes Receivable - Partnerships 0 2,031,425 -

2,031,425 0%

West Park Place Apartments (WPP) 429,000 429,000 0 100% West Park Orchards Apartments (WPO) 20,000 20,000 0 100% Pueblo Del Rio Apartments (PDR) 139,900 139,900 0 100% Rio Bella Apartments (RBA) 1,088,869 0 1,088,869

NBB

Hood River Crossing (HRCr) 942,556 0 942,556 NBB Notes Receivable - Partnerships 2,620,325 2,620,325 0 100%

Other Restricted Funds 171,912 171,712 200 100% 1 Investments in Limited Partner 717,095 693,906 23,189 103%

Total Other Assets 4,273,290 4,151,159 122,131 103%

Total Assets 6,039,417 5,693,730 345,687 106%

Balance Balance Net % of Notes

6/30/2017 5/31/2017 Change Beg. Balance Liabilities

Current Liabilities Accounts Payable

Other 0 5,660 -5,660 0% Mid-Columbia Housing Authority (MCHA) 8,011 8,011 0 100% Accrued Vacation - Short Term 1,503 12,002 -10,499 13% Accrued Vacation - Long Term 13,528 0 13,528

Celilo Garden (CGA) 19,800 19,600 200 101% 2

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Resident Services Grant Funding (RSGF) 17,615 17,615 0 100% 3 Meyer Memorial Trust (MMT) 134,497 134,497 0 100% 4 Carson Springs Apartments (CSA) 0 1,512 -1,512 0%

Carson Land Acquisition 0 62 -62 0% Housing Resource Center (HRC) 1,950 10,960 -9,010 18% 5

Accounts Payable 196,904 209,919 -13,015 94%

Total Liabilities 196,903 209,918 -13,015 94%

Net Assets Unrestricted Designated 171,912 171,712 200 100%

Unrestricted Undesignated 5,670,602 5,312,100 358,502 107% Total Net Assets 5,842,514 5,483,812 358,702 107%

Total Liabilities and Net Assets 6,039,417 5,693,730 345,687 106%

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CCHC General Fund Budget Comparison (with PTD)

June-17 Notes: A Year to date income is 166% OVER budget B Year to date expenses are 16% UNDER budget NB Not Budgeted For

1. Grant Income is often recognized quarterly 2. Some Asset Fee income is not received until year-end. Included in the budget for this line item is $11,593 for Rio Bella Company Admin Fee. This is received annually.

3. Monitoring Fee income comes from Rock Cove 4. Development Fee Income is for Heritage Heights 5. Grant Expense is the portion of CASA's (our development consultant) developer fee earned at Heritage Heights. I showed it as an expense because

it is included in developer fee income 6. Other Expense includes $20,852 to pay for water damages ar Carson Springs

This was paid for by using insurance proceeds.

June Actual

June Budget

Variance % Var Year To

Date Actual

Year To Date

Budget Variance % Var Notes

Revenue Grants 0 5,833 -5,833 0% 117,550 70,000 47,550 168% 1 Management and Development Fees

Management Fee Income 6,922 6,184 738 112% 76,217 74,210 2,007 103% Management Fee Add On 104 52 52 200% 624 624 0 100% Asset Fee Income 765 1,910 -1,145 40% 21,000 22,915 -1,915 92% 2

Monitoring Fee Income 450 150 300 300% 1,800 1,800 0 100% 3 Development Fee Income 0 12,942 -12,942 0% 255,309 155,309 100,000 164% 4

Management and Development Fees 8,241 21,238 -12,997 39% 354,950 254,858 100,092 139% Interest Unrestricted 62 68 -6 91% 664 812 -148 82%

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Interest Income Annual Earned On Payable Fees 98,742 0 98,742

98,742 0 98,742

NB Other Income 238,773 0 238,773

295,686 0 295,686

NB

Total Revenue 345,818 27,139 318,679 1274% 867,592 325,670 541,922 266% A

Expenses

Payroll Salaries 17,249 20,728 3,479 83% 190,798 248,736 57,938 77%

Payroll Costs and Benefits 5,193 6,052 858 86% 55,467 72,619 17,152 76% Vacation Expense 3,029 0 -3,029

3,029 0 -3,029

Payroll 25,471 26,780 1,308 95% 249,294 321,355 72,061 78% Administrative Costs

Staff Training 90 417 327 22% 681 5,000 4,319 14% Travel 18 500 482 4% 872 6,000 5,128 15% Auto Gas/Mileage Reimburse 693 473 -220 147% 2,952 5,673 2,721 52% Payroll Accounting -Contracted -4,889 444 5,333 -1101% 1,259 5,329 4,070 24% Office Rent 1,182 1,182 0 100% 14,184 14,183 -1 100% Meeting Expense 137 212 75 65% 2,639 2,548 -91 104% Advertising 65 83 18 78% 659 1,000 341 66% Office Supplies 0 12 12 0% 42 150 108 28% Postage 50 67 17 75% 404 802 398 50% Computer Program Fees 0 11 11 0% 167 132 -35 127% General Supplies 0 83 83 0% 420 1,000 580 42% Copiers - Maintenance 0 25 25 0% 52 300 248 17% Bank Fees 0 8 8 0% 0 100 100 0% Miscellaneous Admin 0 96 96 0% 760 1,148 388 66% Resident Services Grant Expense 0 0 0

50 0 -50

NB

Background Checks 0 5 5 0% 0 60 60 0% Administrative Costs -2,654 3,618 6,272 -73% 25,141 43,425 18,284 58% Professional and Consulting Fees

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Legal Expense 0 1,411 1,411 0% 1,044 16,933 15,889 6% Auditing Fees -1,054 96 1,150 -1098% 715 1,150 435 62% Consultants 0 3,826 3,826 0% 8,075 45,914 37,839 18% Membership & Fees 0 291 291 0% 2,616 3,495 879 75% Professional and Consulting Fees -1,054 5,624 6,678 -19% 12,450 67,492 55,042 18% Repairs and Maintenance

Maintenance Materials 79 363 284 22% 1,187 4,361 3,174 27% Contract Costs-Other 1,292 1,233 -59 105% 5,674 14,800 9,126 38% Repairs and Maintenance 1,371 1,596 225 86% 6,861 19,161 12,300 36% Taxes and Insurance

Insurance 479 461 -17 104% 5,036 5,534 498 91% Taxes 0 244 244 0% 1,174 2,932 1,758 40% Taxes and Insurance 479 705 227 68% 6,210 8,466 2,256 73% Telephone and Internet

Telephone 118 57 -61 207% 495 679 184 73% Internet Expense 0 32 32 0% 38 381 343 10% Telephone and Internet 118 89 -29 133% 533 1,060 527 50% Grant 0 8,413 8,413 0% 165,951 100,951 -65,000 164% 5

Other -22,965 617 23,581 -3722% 22,750 7,401 -15,349 307% 6

Total Expenses 766 47,442 46,675 2% 489,190 569,311 80,121 86% Prior Period Adjustment -13,651

13,651

-13,651

13,651

Total Expenses (After PPA) -12,885 47,442 60,326 -27% 475,539 569,311 93,772 84% B

Net Income/Loss 358,703

392,053

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Memorandum for the Record To: CCHC Board of Directors From: Richard Morrow Subject: Asset Manager’s Report Date: August 15th, 2017

• Housing Plus Grant - CCHC submitted a grant application in partnership with Mid-Columbia Center for Living through Oregon Housing and Community Service’s “Housing Plus” program. The majority of the funds will be used to provide direct services to clients by Mid-Columbia Center for Living. We are waiting on a response.

• Washington State Annual Affordable Housing Conference Scholarship – Scheduled to attend the Washington State Affordable Housing Conference in October.

• Oregon Housing and Community Services (OHCS) Physical and files audit inspections - OHCS conducted physical and audit file inspections on 7 of our in-house properties. We have received most of the reports back from OHCS and are responding as required. 5 of the 7 inspection have been closed out with OHCS.

• WA State Dept. of Commerce Physical Inspections – The Dept. of Commerce recently conducted physical inspections at Goldendale Stepping Stones and White Cap Apartments. Reports have been closed out with the Department of Commerce.

• Enterprise Foundation/Investor Physical and File audit Inspections – Enterprise, the tax credit

investor for Rio Bella and Pueblo Del Rio conducted physical and file audit inspections. Cascade Management and CCHC have closed out the inspection reports.

• Heritage Heights Warranty/Punch List – CCHC conducted an inspection of the property and created a list of warranty items. LMC Construction is in the process of addressing the warranty items.

• CCHC Maintenance Crew Changes – We are down to one Maintenance person at this time and

are in the process of advertising to fill the empty maintenance position. Recently held Interviews and will be making a selection by the end of August.

• Skamania County Grant CCHC continues to wait for USDA RD’s response for direction on how the Skamania County funds can flow into the property. The Skamania County grant was approved to fund Operational shortfalls at Carson Springs (CSA) and White Cap (WCA) and one capital improvement project at Carson Springs. The funds will have a tremendous positive effect on operations moving forward for both CSA and WCA.

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• The Klickitat County Affordable Housing Funds contract – One draw request has been submitted

to Klickitat County. The funds are available for the approved projects at three properties (Pueblo Del Rio, Goldendale Stepping Stones, and White Salmon Seniors). The contractor has been selected for the parking lot repair at White Salmon Seniors and plans to complete the project by the first week of September. CCHC is in the process of gathering bids for the rest of the planned improvements.

• Portfolio Preservation - Meyer Memorial Trust (MMT) – Working with MMT to make changes to our year 3 budget. We are gathering costs for new line items.

• Cascade Management (Third Party Management Company) Meetings with Cascade Management (CM) are on a monthly basis or more often. Cascade Management manages 8 of CCHC’s properties. The properties are primarily Low Income Housing Tax Credit Properties (5) and USDA RD properties (3). Besides our monthly meetings, I am in contact with CM almost on a daily basis regarding budgets, current financials, funders, investors, compliance reporting, occupancy, maintenance, and capital needs.

• Concepts in Community Living (CCL) CCL manages two of our properties, Hamilton Park a Low Income Housing Tax Credit project and Rock Cove Assisted Living Facility. I meet quarterly with CCL staff and more often as needed. As with CM, I am in constant communication with CCL regarding budgets, current financials, funders, investors, compliance reporting, occupancy, maintenance, and capital needs.

• In progress and upcoming physical improvements to properties: • Carson Springs (COMPLETED - Run-off ditch repair, Install fence on southern property line) • Rock Cove Assisted Living Facility (COMPLETED - Parking lot repair and new pavement is

scheduled for August. Tree and landscape restoration needed) • White Salmon Seniors (Parking lot asphalt repair and seal is SCHEDULED), • Pueblo Del Rio (HVAC repairs, grounds improvement, sprinkler system repair, playground repair,

new fence installation). Cascade Management getting bids. • Goldendale Stepping Stones (Sewer line Repair), COMPLETE • Sagewind Manor (COMPLETED - Remove and Replace worn concrete pads in front of each unit). • In-House occupancy is at 94%, Cascade Management occupancy is at 92% and Concepts in

Community Living is at 96% occupancy. That puts the average occupancy across the portfolio at 94%.

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Columbia Cascade Housing Corporation Summary Dashboard (through 06/30/2017)

Project # of

Units

Fiscal Year Type

Actual NOI

Operating Cost

Per Unit Per Month

Net Cash Flow YTD

Rep Reserves Per Unit

Net Cash Flow

Per Unit

Rio Bella Apartments Hood River 54 Calendar 87,569 401 46,071 4,077 853 Pueblo Del Rio Roosevelt, WA 20 Calendar (12,507) 480 (12,507) 2,563 (625) West Park Place The Dalles 25 Calendar 29,981 415 5,959 3,172 238 White Cap Apartments Stevenson 16 Fiscal 37,409 394 9,431 5,467 589 West Park Orchards (Seniors) The Dalles 22 Calendar 3,729 454 (8,536) 2,959 (388) Hood River Crossing Hood River 40 Calendar 56,371 434 16,001 2,267 400 WyEast Vista Hood River 25 Fiscal 56,097 547 (5,514) 35,379 (221) Carson Springs Carson, WA 8 Fiscal 40,880 351 5,545 3,989 693 Hamilton Park North Bonneville, WA 25 Calendar 26,465 426 7,454 575 298 Rock Cove Assisted Living Facility Stevenson 30 Fiscal 112,216 3,186 (23,648) 4,163 (788) Bridges of Klickitat County Goldendale 3 Fiscal 7,774 447 3,319 2,063 1,106 Casa Lomas Apartments The Dalles 25 Fiscal 40,782 588 (28,982) 10,544 (1,159) East Hill Village The Dalles 8 Fiscal 9,266 492 84 5,962 11 Goldendale Stepping Stones Goldendale 4 Fiscal 1,253 577 53 5,584 13 Mosier Creek Terrace Mosier 12 Fiscal 26,590 461 6,154 3,038 513 Oregon Trail Youth The Dalles 3 Fiscal (1,549) 391 (1,549) 2,684 (516) Rose Garden Apartments The Dalles 6 Fiscal (18,987) 752 (20,307) 3,857 (3,384) Sagewind Manor Moro 12 Fiscal 14,500 344 (3,789) 3,142 (316) White Salmon Seniors White Salmon 6 Fiscal 13,774 315 1,176 10,497 196 Celilo Gardens Apartments The Dalles 6 Fiscal 9,540 405 3,540 4,612 590 Cascade Meadows Cascade Locks 13 Calendar 2,021 465 (1,649) 3,114 (127) Heritage Heights Apartments The Dalles 24 Fiscal 104,356 204 30,642 7,918 1,277 TOTAL 387 647,531 569 28,949 5,801 (34)

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Project Cash on Hand

Tenant Receivables

Operating Reserve Balance

Replacement Reserve Balance

Acc. Payable

Total Reserves on

Hand

Debt Coverage

Ratio

Occupancy (%)

Rio Bella Apartments (Rio Bella & Rio Bella Heights) 50,392 329 412,155 220,140 12,171 632,296 2.81 94% Pueblo Del Rio 1,450 0 28,757 51,263 22,581 80,020 NA 70% West Park Place 30,324 4,465 80,871 79,299 4,696 160,170 1.69 92% White Cap Apartments 2,277 6,541 1,638 87,465 8,514 89,104 1.34 100% West Park Orchards (Seniors) 1,395 -870 22,071 65,093 19,555 87,164 0.43 100% Hood River Crossing 9,514 375 203,503 90,677 11,310 294,180 1.96 90% WyEast Vista 60,280 900 0 884,465 22,640 884,465 1.64 96% Carson Springs 4,623 9,843 0 31,915 28,217 31,915 1.56 100% Hamilton Park 21,327 297 32,889 14,385 5,618 47,275 1.65 100% Rock Cove Assisted Living Facility 99,053 26,215 210,297 124,875 49,072 335,172 0.91 100% Bridges of Klickitat County 4,261 97 6,458 6,189 0 12,647 3.78 100% Casa Lomas Apartments 11,386 9,733 0 263,605 0 263,605 0.95 84% East Hill Village 28,811 364 0 47,699 0 47,699 1.31 100% Goldendale Stepping Stones 15,975 757 12,365 22,338 0 34,702 NA 75% Mosier Creek Terrace -956 2,108 0 36,451 11,065 36,451 1.79 100% Oregon Trail Youth 2,964 610 5,062 8,051 5,529 13,113 NA 33% Rose Garden Apartments 1,721 3,557 0 23,145 8,252 23,145 NA 83% Sagewind Manor 1,198 186 0 37,706 5,835 37,706 0.96 100% White Salmon Seniors 25,698 485 0 62,983 0 62,983 1.31 100% Celilo Gardens Apartments 39,018 44 19,800 27,671 0 47,471 NA 100% Cascade Meadows 4,409 -951 20,933 40,479 18,104 61,412 NA 100% Heritage Heights Apartments The Dalles 134,872 1,824 - 190,026 0 190,026 1.89 100%

TOTAL 549,992 66,909 $ 1,056,800 2,415,919 233,160 3,472,718 1.63 93%

YTD Management Fee Totals Occupany AVG Cas Mgmt CCL CCHC Cas Mgmt CCL CCHC Total Fee YTD $61,864 $68,381 $68,380 92% 96% 94%

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Memorandum for the Record To: CCHC Board of Directors From: Dave Peters Subject: Housing Resource Center Date: August 8th, 2017

Organizational Goals: Direct Counseling to 6 new families for each quarter. For the quarter (April-June), We completed direct

counseling to six people in the Oregon Foreclosure avoidance program and another two that were counseled for foreclosure avoidance, but not through the OFA program. We also counseled ten people for homeownership.

Hold 2 Orientation Sessions for each quarter. In June, MCHA held numerous sessions and 61 people

attended who were introduced to the Housing Center. These people were introduced to the Housing Center and some of the programs we offer.

Provide I+R services to 15 families for each quarter. We provided information and referral services to

fourteen families in the quarter. Requested information often includes home repair resources, home purchase, Oregon loan programs, reverse mortgages and foreclosure information.

Provide Homeownership six classes throughout the year. We held one homebuyer class in June. The

class was held at The Dalles at the CGCC campus. This class was in English and five people attended. These classes are paid through the HOAP program and that funding cycle is July 1 through June 30th. In that time period, we held a total of eight classes.

PROGRAM UPDATES: Mid-Columbia Regional Home Repair Program-Loan

At this time, we still have approximately $100,000 remaining. Our priority is the other two repair programs (Oregon and Washington) since they have deadlines of later this year. We are working on getting approval for a home in Moro, but getting bids is proving to be quite difficult. These repaid funds are now used primarily as an emergency fund for immediate needs, but we may use some to work on a home or two that did not meet the time deadline of the Hood River County home repair deadline.

Mid-Columbia Regional Home Repair Program-Washington (Klickitat and Skamania Counties)

The award is for a $400,000 minor home repair program in Washington by partnering with the City of Bingen. We have paid out $16,300 to contractors and we expect to pay an additional $24,600 for work completed very soon. We are working on the environmental reviews for an additional two homes with an estimated loan amount of $40,000 for a total of $80,900. The work has been at a slower pace due to weather conditions early on and availability of contractors. We are waiting on documentation from another homeowner, and at least five more are on the waitlist. We have done some recent advertising for the Washington Home Repair through posting additional posters in English and in Spanish, and Mario made an ad for radio in Goldendale. We have had over 30 people apply, but a majority of these people

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do not qualify for various reason including lack of equity, over income, work being asked for is not allowed within the CDBG program. Project completion date is June 30, 2018.

Mid-Columbia Regional Home Repair Program-Oregon (Wasco and Hood River Counties)

We are working with Hood River County on the $300,000 grant. The budget for the program is $225,000 in repairs and $75,000 for admin and other costs. Each homeowner could receive as much as $30,000 in repairs to the home through a zero interest, deferred payment loan program in partnership with Hood River County. We have completed two projects and seven are currently underway. Some of the projects are just getting started due to contractors being really busy, but they are aware of our deadline. We are waiting on signatures to commence the last project we expect to work with, which would put us around $222,331 in loans made. With the title and recording fees it brings the total amount to about $225,000. Program completion is September 30th, 2017, but we can extend that deadline if needed to complete the last project or two.

Revolving Capital Loan Fund- Acquisition/Rehab program

Currently this fund has approximately $160,000. These funds can now be used in support of low income housing and CCHC continues to look for home purchase or other opportunities. At our last Board meeting, we had asked for approval for Joel to be able to move forward should any land become available through foreclosure due to taxes owed or if land is deemed surplus. Both the city of The Dalles and Wasco County divested property recently. We did some initial analysis but we decided to not act on any of them. As mentioned previously, CCHC is now registered to receive the proceeds from 6 Deeds filed from HOPE (Housing for People in Hood River). The remaining Deeds total approximately $68,000. These Deeds were placed on Self-Help homes that HOPE administered quite a while ago.

Down payment Assistance Programs We submitted an application for additional funding through Oregon Housing & Community Services, but

we were recently notified that we did not receive funding. Our request matched last year’s request. We asked for $40,000 for eight $5,000 grants. Looking at the projects that were funded, all but one received $100,000 and the other one received $97,200. In the future, we will be requesting more funds for a bigger impact.

Oregon Foreclosure Avoidance Program

In June, we counseled three people about the program, and we attended two Resolution Conferences. UPDATE on funding: At first, the new Oregon state budget did not include funding for the counseling part of the program to be continued, but funding was added at the last minute, although it was for a reduced amount. The final changes have not been finalized, but suggested changes include a change from $650 per counseling session to $450 or $500, and the first resolution conference attended payment be reduced from $250 to approximately $150. Those reduced figures should still cover our costs, although we will be looking for ways to streamline our process.

Oregon Homeownership Stabilization Program (OHSI)

As of the end of June, we have taken a total 25 completed applications for the MPA program and we have closed 16 loans. We have also received seven completed application for the Loan Preservation

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program and we have closed five loans. Those figures are the totals for this program in the new round (started last summer). This program assists Homeowners with 12 payments on their mortgages as well as “catching them up” for up to another $15,000 in a one- time payment. Another program that is running now allows people a one-time payment up to $40,000 to catch up on past due amounts with their mortgage. It can even pay past due taxes if the homeowner has no mortgage. With these programs, we will earn $300 for gathering all the documents and forwarding them to the state. We get an additional $75 to close the loan and another $75 for each recipient for the quarterly reporting

Financial Education:

MCHA and CCHC offered a Financial Education class on June 21st. We used portions of the Money Smart Program through the FDIC and we concentrated on Money Matters and To Your Credit. The classes we offer are two hours long and in person. We had five people attend the June 21st class. In late July, CCHC was notified by Oregon Housing and Community Services that they received funding for the application they had submitted (and CCHC was a part of). We are working towards submitting all of the required documents needed to be a part of this education. This will open another revenue stream as we council people on financial education.

The Mid-Columbia Housing Resource Center’s website continues to be available at www.midcolumbiahousingcenter.org. The website provides information for state and federal programs as well as information about Housing Center programs and applications. Most information on the site is available in Spanish as well as English.

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Housing Resource Center Balance Sheet (With Period Change)

June-17

Notes: A/Ps marked with RESERVE FUNDS hold excess funds which can now be used as operating funds for any

Housing Resource Center program. Excess funds will ultimately end up in the A/P account titled Carryover (C/O)

1. A/R Housing Resource Center consists of funds owed to the HRC General Fund from other HRC programs. This occurs when a grant is received in full, up front, as opposed to those grants which we need to submit periodical draws for (those will be A/P's rather than A/R's)

2. HOAP (Home Ownership Assistance Program) 8. MPA (Mortgage Payment Assistance)

3. IHR (Innovative Home Repair) 9. C/O (Carryover - these funds remain from expired grants)

4. DPAO (Down Payment Assistance Oregon) 10. RCF (Revolving Capital Fund - to buy and flip homes)

5. RHRWA (Regional Home Repair Washington)

11. MPA2 (Mortgage Payment Assistance 2nd program)

6. RHROR (Regional Home Repair Oregon) 12. RHR OLD (Regional Home Repair LOAN program) 7. RHC (Regional Home - this is the amount of repaid loans to loan back out) 13. RHR NEW (Regional Home Repair GRANT program)

14. OFA (Oregon Foreclosure Avoidance)

Balance Balance Net % of

Notes 6/30/2017 5/31/2017 Change Beg. Balance

Assets Current Assets

Cash 304,146 332,307 -28,161 92% Prepaid Expenses 0 27 -27 0% Grants Receivable 61,730 0 61,730

Accounts Receivable A/R -OTHER CCHC Housing Resource Center 277,387 282,917 -5,531 98% 1

A/R FROM CCHC GF 1,950 15,260 -13,310 13%

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A/R FROM HOAP 2012 6,487 3,664 2,822 177% 2 A/R from Innovative Home Repair 0 24 -24 0% 3 A/R FROM Oregon Down Payment Assistance 0 -2,975 2,975 0% 4 A/R FROM Regional Home Repair WA (RHRWA) 73,970 64,103 9,868 115% 5 A/R FROM Regional Home Repair OR (RHROR) 73,607 62,588 11,019 118% 6 A/R FROM Oregon Foreclosure Avoidance (OFA) 0 3,885 -3,885 0%

Total Accounts Receivable 433,401 429,466 3,934 101%

Total Assets 799,276 761,801 37,475 105%

Current Liabilities Accounts Payable A/P Vendors & Contractors 0 -1 1 0%

A/P TO CCHC GF 0 12,575 -12,575 0% A/P to RHC Home Owners 147,435 147,435 0 100% 7

A/P to MPA RESERVE FUNDS -986 -1,666 679 59% 8 A/P to HRC Carryover RESERVE FUNDS 102,626 29,881 72,745 343% 9 A/P to HRC Rev Capital Fund 161,337 161,337 0 100% 10 A/P to MPA2 RESERVE FUNDS 0 22,886 -22,886 0% 11 A/P to Regional Home Repair OLD -5,282 -5,029 -253 105% 12 A/P to Regional Home Repair NEW 0 52,782 -52,782 0% 13 A/P to OFA RESERVE FUNDS 22,667 25,702 -3,035 88% 14 A/P TO Housing Resource Center 154,064 131,265 22,799 117%

A/P to Other Current Liabilities 150,000 150,000 0 100% Total Accounts Payable 731,860 727,167 4,693 101%

Total Liabilities 731,860 727,167 4,693 101%

Net Assets Unrestricted Designated 67,416 34,634 32,782 195%

Total Net Assets 67,416 34,634 32,782 195%

Total Liabilities and Net Assets 799,276 761,801 37,475 105%

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Housing Resource Center Budget Comparison (with PTD)

June-17

Notes: NB Not Budgeted For 1. Monthly budgeted grant income is made up

of: RHROR (Oregon Regional Home Repair Construction) 15,000

RHROR (Oregon Regional Home Repair Administration) 4,083

Since some of these grants are done with RHRWA (Washington Regional Home Repair Construction) 16,667

quarterly draws, and since I don't do many accruals

RHRWA (Washington Regional Home Repair Administration) 3,333

during the year, budget comparisons will be HOAP (Home Ownership Assistance Program)

2,642

more valid on quarterly months

OFA (Oregon Foreclosure Assistance)

925

(September, December, March, June) DPAO (Down Payment Assistance Oregon)

2,240

MPA (Mortgage Payment Assistance) 937

45,827 Total

June

Actual June

Budget Variance % Var

Year To Date

Actual

Year To Date

Budget Variance % Var Notes

Revenue Grants

Home Repair Grants 58,455 39,083 -19,372 150% 58,755 468,996 410,241 13% Other Operating Grants 6,575 6,744 169 97% 85,238 80,928 -4,310 105% Grants 65,030 45,827 -19,203 142% 143,993 549,924 405,931 26% Management Fee Income 2,975 0 2,975

4,803 0 4,803

Interest 14 17 -3 82% 170 200 -30 85%

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Other 0 625 -625 0% 10,494 7,500 2,994 140%

Total Revenue 68,019 46,469 -16,856 146% 159,460 557,624 413,698 29%

Total Revenue With No Home Repair Income 9,564 7,386 -2,178 129% 100,705 88,628 -12,077 114%

Expenses

Payroll Salaries 8,669 10,776 2,107 80% 99,939 129,313 29,374 77%

Payroll Costs and Benefits 3,117 4,618 1,502 67% 34,621 55,418 20,797 62% Payroll 11,786 15,394 3,609 77% 134,560 184,731 50,171 73% Administrative Costs

Staff Training 0 83 83 0% 3,043 1,000 -2,043 304% Travel 176 125 -51 141% 698 1,500 802 47% Auto Gas/Mileage Reimburse 90 83 -7 108% 1,151 1,000 -151 115% Payroll Accounting Contracted 61 61 0 100% 728 728 0 100% Office Rent 394 394 0 100% 4,728 4,729 1 100% Meeting Expense 15 42 26 36% 301 500 199 60% Background Checks 45 25 -20 180% 437 300 -137 146% Management Fee Expense 2,975 0 -2,975

2,975 0 -2,975

Advertising 0 100 100 0% 2,164 1,200 -964 180% Office Supplies 269 53 -216 508% 493 638 145 77% Postage 0 12 12 0% 0 150 150 0% Computer Program Fees 6 6 0 100% 76 76 0 100% Bank Fees 0 4 4 0% 0 50 50 0% Administrative Costs 4,031 988 -3,044 408% 16,794 11,871 -4,923 141% Professional and Consulting Fees

Legal Expense 0 42 42 0% 0 500 500 0% Auditing Fees 39 62 24 63% 750 750 0 100%

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Membership & Fees 130 96 -34 135% 656 1,155 499 57% Professional and Consulting Fees 169 200 32 85% 1,406 2,405 999 58% Repairs and Maintenance

Home Repair Grant Construction 15,616 31,667 16,051 49% 76,797 380,000 303,203 20% Maintenance Materials 0 12 12 0% 3 150 147 2% Repairs and Maintenance 15,616 31,679 16,063 49% 76,800 380,150 303,350 20% Taxes and Insurance

Insurance 42 42 0 100% 566 505 -61 112% Taxes and Insurance 42 42 0 100% 566 505 -61 112% Grant

Down Payment Assistance Oregon 0 2,083 2,083 0% 17,975 25,000 7,025 72% Grant 0 2,083 2,083 0% 17,975 25,000 7,025 72% Other -12 0 12

-327 0 327

Prior Period Adjustments 3,580 0 -3,580

10,138 0 -10,138

Total Expenses 35,212 50,389 15,176 70% 257,911 604,662 346,751 43%

Total Expenses With No Home Repair 14,072 11,306 -2,766 124% 110,415 135,666 25,251 81%

Net Income 32,807

-98,451

Net Income With No Home Repair -4,508

-9,710

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Memorandum for the Record Date: August, 2017 To: CCHC Board of Directors From: David Ling Subject: Property Manager Report

Oregon Trail Transitional Youth (For youth in The Dalles) Oregon Trail Youth is currently down to two girls. We are working on two applicants at this time. Total income is 13% under budget, and total expenses are 1% over budget. Total maintenance is 8% under budget. Rent is current. Casa Lomas Apartments (25 units of farm worker housing) The property & grounds are looking good. We have the turnover of two units, and have two applicants that have moved in. We are currently in the midst of transfer from within. One family that is moving to a larger unit and one to a smaller unit. This will require a turnover to both units, taking some time, as one requires new flooring, paint throughout, and countertops. The other, paint throughout and countertops. Total income is 19% under budget, and total expenses are 23% over budget. Total maintenance is 83% over budget. Rent is current. Mosier Creek Terrace (12 units of Independent Senior Housing) We are leased up and the grounds are looking great. Total income is only 1% under budget, and our total expenses are 2% over budget. Total maintenance is 4% under budget. Rent is currently $728.00 in arrears. I am continuing to work with one tenant to make payments on extensive arrears. Rose Garden Apartments (6 units of Special needs housing) The property is looking well and we currently have one vacancy. We have made an Agreement with another resident, who will be moving out at the end of July. This will be a longer than normal transition time in turnovers and new residents. As a result, we are going through a rough patch with our budget/financials. Our total income is 4% under budget. Expenses are 78% over budget. Total maintenance is currently 142% over budget. Rent is currently $213.00 in arrears. Sagewind Manor (12 units of senior housing) The property grounds are looking good, and we are leased up. The concrete work has been scheduled for August 8, 2017. Total income is 1% over budget and total expenses are 2% under budget. Total maintenance is 45% over budget, due to the turnovers this last summer. Rent is $186.00 in arrears. Celilo Garden (6 units of special needs housing) Celilo Garden is leased up and the property is looking good. Expenses 2% under budget and total income is 8% over budget. Total maintenance is 13% over budget. Rent is current. White Salmon Seniors (6 units of senior housing) This property is looking good, leased up and doing well. We have scheduled with a contractor to have parking lot seal coated and re-striped. Due to their busy schedule, the work will be completed towards

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the end of August or early September. Total income is 4% over budget, and Total expenses are 15% over budget, and total maintenance is 45% over budget. Rent is $84.00 in arrears. East Hill Village (8 units of farm worker housing) The property is leased up and the grounds are looking well. Total income is 4% over budget, and total expenses are 27% over budget, and total maintenance is 53% over budget. Rent is current.. Goldendale Stepping Stones (4 manufactured homes for low income families) The property’s grounds are looking well and we are leased up. We are talking with the Washington Department of Commerce to help with ideas on funding, concerning our offline unit 324, as there extensive work that needs to be done. Total income is 5% under budget, and our total expenses are 1% under budget, and total maintenance is 2% under budget. Rent is $104.00 in arrears. Bridges of Klickitat County (3 units of special needs housing) The property is leased up and the grounds are looking well. Total income is 5% over budget, and total expenses are 9% under budget. Total maintenance is 2% over budget. Rent is $96.00 in arrears. I am currently working with one individual to catch up the arrears. Cascade Meadows (HUD 202 PRAC Senior Housing) The property is looking good and we are leased up. Maintenance expenses are 11% over budget, total expenses are 6% under budget. Our total income is 16% over budget. Rent is current. Heritage Heights (24 units of Farmworker Housing) Heritage Heights is leased up and looking good. Income is 5% over budget, expenses are 24% under budget, and maintenance expense is 80% under budget. Rent is current.