Return to flip book view

2020 FRH Annual Report

Page 1

FOOTHILLS REGIONAL HOUSINGTogether We Thrived2 0 2 0 A N N U A L R E P O R TDear Residents and Partners, What a year 2020 was! We faced unheard-of challenges, stepped up to play an important role in local pandemicrelief, and worked tirelessly to keep our residents and staff safe, healthy, and housed. If this year had a theme, itwould be, “Change”, and by embracing change, we turned 2020 into a year of tremendous growth. We played a newrole in disbursing emergency rental assistance county-wide, modernized and expanded our physical asset portfolio,learned to work (and thrive) in a primarily remote working environment, earned national praise as a Foster Youthprogramming leader, served hundreds of homeless families and expanded our housing navigation services. Our growth as an organization and the strengthening of our most important internal resource- our qualified andcommitted staff- facilitated (and necessitated!) the purchase of a new home for FRH. We are the proud new ownersof a larger, highly functional headquarters building centrally located within our portfolio. We adapted ourportfolio’s rental assistance structure to bring our revenues to market rates without increasing burdens on ourmost vulnerable families and we redeployed expiring rental assistance from obsolete properties to support our low-income senior residents. We responded to the financial and health-related struggles of voucher-holding familiesand property residents by securing hundreds of thousands of dollars in rental assistance and by allowing them toserve our community as essential workers without reducing their assistance. We were prepared for and took fulladvantage of new voucher opportunities for homeless, disabled, youth, and veteran residents. Throughout 2020, we learned, we adapted, we grew, and we led! This report shares some of our highlights andachievements. As our partners, we want to publicly acknowledge that none of this success could have happenedwithout you. We reaffirm our commitment to our mission and our work with you into, and beyond, 2021. Together,we will continue our work to make Jefferson County communities affordable, equitable, and resilient. Our Best,Lori Rosendahl Amy Case Zachary Guerin Kristen GinesCEO CFO COO CPO2020.Address: 11941 W. 48th Ave. Wheat Ridge,CO 80033 Phone: 303.422.8600 Web:

Page 2

2020 KPI'sProvided ApproximatelyProvided Approximately$18,324,554 in Housing$18,324,554 in HousingAssistance Payments toAssistance Payments toJeffco Landlords Via TheJeffco Landlords Via TheHCV ProgramHCV Program Assisted Over 1800Assisted Over 1800HouseholdsHouseholdsAssisted 43 At Risk, Disabled,Assisted 43 At Risk, Disabled,& Elderly Jeffco Families By& Elderly Jeffco Families ByAssisting With NeededAssisting With NeededRepairs To Keep ThemRepairs To Keep ThemHoused SafelyHoused SafelyProvided $180,000 InProvided $180,000 InEmergency Home RepairsEmergency Home RepairsFinancial AidFinancial Aid Started Redevelopment inStarted Redevelopment in Wheat Ridge Adding 108Wheat Ridge Adding 108LIHTC UnitsLIHTC UnitsAwarded Tax Credits forAwarded Tax Credits forDevelopment in ArvadaDevelopment in Arvadaby Program:by Program:LIHTC - 7LIHTC - 7 HUD Assisted- 3HUD Assisted- 3Affordable - 9Affordable - 9Number of PropertiesNumber of Properties Owned & ManagedOwned & Managed Provided over $1,000,000 inProvided over $1,000,000 inRental & MortgageRental & MortgageAssistance to FRH & JeffcoAssistance to FRH & JeffcoResidentsResidents Helped Over 2K HouseholdsHelped Over 2K HouseholdsDuring COVID-19 PandemicDuring COVID-19 Pandemic Our Impact150 Vouchers serving non-elderly disabledhomeless families and individuals in partnershipwith Jeffco, STRIDE, the Action Center, JeffersonCenter for Mental Health, and Family Tree50 VASH Vouchers serving Jeffco ChronicallyHomeless Veterans in partnership with the VAMedical Center22 FYI Vouchers serving homeless young adultstransitioning out of foster care in partnershipwith Jefferson County and CASARental assistance paid on behalf of familiesmost at risk for homelessness. 5 Project Based Voucher units for homeless orat-risk families in partnership with JeffersonCountyHomelessness PreventionIncreased HUDIncreased HUDcontributions at Greencontributions at GreenRidge MeadowsRidge MeadowsApartments by over $500KApartments by over $500KHosted a round tableHosted a round tablediscussion with our Fosterdiscussion with our FosterYouth cohort and HUDYouth cohort and HUDSecretary CarsonSecretary CarsonAdded 37 HUD assistedAdded 37 HUD assistedunits to our propertyunits to our propertyportfolio to serve familiesportfolio to serve familiesat the lowest income levelsat the lowest income levelsAdded a total of 13 new full-time positions toour organization.Worked in conjunction with our partners atJeffCo to add a temporary grant funded positionto focus on COVID-19 emergency funds. Trained 5 Interns from the JeffCo Job TrainingCenter Providing OpportunityHelped 100 + homeless and at risk familiessecure places to live via our navigation program.Assisted with navigating all of the variousCOVID-19 assistance benefits.Delivered needed commodities to our seniorfamilies in the portfolio.Provided socially distant services to residentsexperiencing hardships due to loss of jobs orloved ones. Our Operations department partnered withEvery Heart to provide lunches to over 1231families within our portfolio. Provided dedicated staffing to assist families inapplying for rental, mortgage, and depositassistance. Wrapping JeffCo with ServicesCombined two HUD contracts and placeddeeply subsidized units at Hidden Lake Homesproviding 42 Residents with income basedassistance.Repositioned our portfolio, including divestingof properties not in line with our mission. .Cultivated community partnerships that willfurther our development activities. Forward ThinkingAddress: 11941 W. 48th Ave. Wheat Ridge,CO 80033 Phone: 303.422.8600 Web:

Page 3

Awarded LIHTC by CHFA in 2019 to build affordable housing in Golden, ColoradoBroke ground in June of 2020Will house residents with between 30-60% of the AMIThe community will offer spacious one, two, and three-bedroom apartment homes. The Flats At Ford St. Opening Early 2022Utilizing LIHTC to improve FRH'scurrent housing stock in WheatRidge, ColoradoExterior upgrades including theaddition of a CommunityBuilding, community garden,new play area, and new parking. Interior upgrades to includeupdated kitchens, flooring,lighting and more!Serving residents whose incomeis between 30-80% of the AMI.Anticipated completion - Fall2020Building for TomorrowCaesar SquareAddress: 11941 W. 48th Ave. Wheat Ridge,CO 80033 Phone: 303.422.8600 Web:

Page 4

Construction expected to begin June 202115 month construction schedule, expect to complete in September 2022100 units total, serving families and individuals between 30-70% AMI. 39 units dedicated to serving youth transitioning out of foster care and homeless veterans.Job Training and Supportive Services partnerships; and physical community and office space for these partners.Urban infill community within walking distance to Arvada’s Olde Town and RTD light rail. Earned Fees & Asset Sales47%HAP Income31%Rental Income22%Housing Assistance44%Admin Expense39%Depreciation8%Maintenance6%Utilities3%By The NumbersAVI @ Olde TownNumbers are inclusive of JCHA, Jeffco Housing Corp and Tax Credit PartnershipsAddress: 11941 W. 48th Ave. Wheat Ridge,CO 80033 Phone: 303.422.8600 Web: