Experience
Housing Development
As a leader in publically-subsidized senior housing, CCH has a large portfolio utilizing a variety of HUD programs including Section 202 Supportive Housing for the Elderly, to Section 236, HOME, HUD-insured loans, and Project Based Section 8 Rental Assistance. We have retained the deep affordability at aging properties while completing major rehabilitation. Additionally, we have successfully adapted to the regional funding environment by diversifying our portfolio of senior housing properties, Low-Income Housing Tax Credits, State Finance Agency programs, Affordable Housing Program Grants, and the tax exempt bonds.
CCH has a strong track record of layering multiple funding programs together for acquisition, rehabilitation, and new construction of sustainable, deeply affordable, service-rich senior housing in California and other states, including Texas and Colorado. CCH recently was awarded the prestigious MetLife Award for Excellence in Affordable Housing for its Sierra Meadows property. This LEED Gold development was chosen based on the combination of its design and the resident-focused services that CCH provides. To date, CCH has completed all projects on time and on budget.
U.S. Department of Housing and Urban Development
CCH began its working relationship with HUD in 1962 when it applied for a HUD Section 202 loan to build Garfield Park Village in Santa Cruz, CA. Since that time, CCH has had an extensive relationship with HUD for both the development and management of HUD subsidized properties. Because we are a Bay Area based organization working predominantly in Northern California, CCH has a strong working relationship with both the San Francisco Multifamily HUB staff, like Angela Corcoan, as well as Washington DC staff at the Office of Recapitalization.
CCH Development Overview
- CCH built its first HUD property in 1964
- CCH closed on the very first HUD 202 prepay with a Flexible Subsidy Deferral and Tenant Protection Vouchers allocation in 2012
- CCH closed on the very first Senior Project Rental Assistance Contract (SPRAC) with HUD 202 prepay and Flexible Subsidy Deferral in 2014
- CCH is one of the oldest developers of HUD Section 202 properties in Northern California
- CCH has developed 21 Section 202 properties (both 202/Section 8 and 202/PRAC). CCH manages 17 additional Section 202 senior properties
- CCH is working with HUD Fort Worth to refinance and rehab an old HUD 236 which will be converted to Permanent Supportive Housing with the inclusion of a Federally Qualified Health Clinic and wrap around services for homeless households
- CCH participates in a national HUD 202 working group to influence policy on HUD’s preservation strategies for all forms of HUD 202 properties (loan, grant, S8, PRAC, and SPRAC)
- CCH has extensive ties to HUD regional and national staff, including speaking on conference panels as an authority on HUD Preservation Incentives
- CCH has worked with public housing authorities to acquire project-based Section 8 vouchers for our senior properties and tenant-based vouchers for our senior residents
- CCH has used project based Section 8 to leverage the financing resources for preservation of properties at risk of converting to market-rate housing
- 30% of CCH’s properties utilized HOME funds
- CCH works with nonprofit partners to refinance and rehab HUD 202/236 properties nationally
HUD’s Preservation Incentives
The Secretary of the Department of Housing and Urban Development has expressed its concern that literally hundreds of thousands of units of existing HUD subsidized housing build in the 1960s and 70s is at risk of losing its affordability as regulatory agreements attached to its loans begin to expire.
CCH Preservation Overview
- CCH is working collaboratively with multiple HUD multifamily and Public Housing HUBs across the country to preserve several projects which include several hundred units of senior housing.
- CCH has used most all of the HUD Preservation Incentives, including:
- HUD 202 Prepayment
- HUD 236 Decoupling IRP
- TPV Requests for Matured Mortgages
- Flexible Subsidy Loan Deferral
- 8 BB Transfer
- Equity Participation Transaction
- Chapter 15 HAP Renewal
- Homeless Housing Preference
- CCH leads conference sessions with other housing professionals and HUD staff to educate the industry about their preservation programs.
- CCH is constantly seeking senior housing preservation opportunities in California and across the country.
Low-Income Housing Tax Credits and Multilayered Financing
CCH has a strong track record of layering multiple funding programs together to build new and rehabilitate existing affordable senior housing. The vast majority of our real estate development activity includes at least three difference funding sources. Most recently those include HUD, Low-Income Housing Tax Credits, and Tax-exempt bonds. In addition, CCH uses HOME program funds, State funds, seller financing, Affordable Housing Program funds and private philanthropy to balance capital budget shortfalls when HUD and LIHTC are not enough. CCH Housing Development, Property Management, Compliance and Accounting staff work closely together to ensure accurate compliance and reporting for all of the program funds and their corresponding agencies.
CCH Financing Overview
- CCH has been awarded both 9% and 4% tax credit allocations. CCH has been awarded over $62 MM in tax credits for acquisition, preservation, and new construction of senior housing
- CCH successfully pairs HUD programs with tax credits to build and preserve senior housing
- CCH successfully paired LIHTC with Federal Historic Tax Credits
- CCH rescued two failing tax credit properties when the project sponsor was on the edge of bankruptcy
- CCH uses the LIHTC program in California, Colorado, and Texas
- CCH has excellent relationships with the equity partners on all of the LIHTC properties
- CCH has never defaulted on a LIHTC project during the compliance period
- CCH sponsors regular trainings for development, management, and compliance staff to stay abreast of the LIHTC program complexities
- CCH works with local jurisdictions and the state to secure HOME funds for gap financing in over 30% of the properties developed. CCH has strong working relationships with all of our HOME partners.
- CCH works with cities to secure CDBG funds for properties in development, and for properties in need of critical repairs.
- CCH has worked with local jurisdictions to secure redevelopment funds for gap financing in over 50% of the properties developed.
- CCH works with the State of California’s department of Housing and Community Development in funding projects with California Housing Rehabilitation Program, MHP, and Proposition 1C funds, including the use of Transit Oriented Development funds.
- CCH works with Cal HFA to redevelop provide acquisition capital for the preservation of aging senior housing.
Sustainable Housing Design (Transit-Oriented, Mixed-Use, Green, Universal Design and Smart Growth)
In January 2009, CCH made a formal commitment to environmental sustainability by launching the CCH Green Communities Initiative, a three-phased approach to transforming how we do business. The CCH Green Communities Initiative affects our four main areas of influence: Property Management, Housing Development, Social Services, and Corporate Administration. In addition to the Green Communities Initiative, CCH has Design Standards that address the accessibility, durability and sustainability performance standard of every project.
CCH Sustainability Overview
- Sierra Meadows, Visalia, is CCH’s first LEED Gold HUD 202 new construction project. It provides 43 units of senior housing in an environmentally friendly building that performs 30% better than California’s rigorous Title 24 Energy Code and participated in the California Multifamily New Homes program.
- Harrison Street Senior Housing, in Oakland, California, is a Transit-Oriented Development (TOD) and a brownfield redevelopment in the heart of downtown Oakland. This project has an energy efficient design, and is participating in the Build It Green GreenPoint Rated program and the California Multifamily New Homes program.
- CCH continues to keep up with the building industry in its capacity to implement green building materials and systems, along with overall sustainable housing design strategies, in all our projects.
Service-rich Senior Housing
CCH fully supports the concept of “Aging in Place” which is the idea that a provider needs to provide not only housing, but services appropriate to each population served to address the root causes of homelessness in America.
CCH Service Programming
- CCH’s Service Coordination Program reflects an organization-wide commitment to enabling seniors to Age in Place, avoiding costly, unwanted, and often premature institutionalization.
- CCH employs a team of over 40 dedicated on-site Service Coordinators whose role is to link seniors with a wide array of supportive service providers.
- CCH Service Coordinators report that over 65% of the seniors in CCH facilities require some type of social service assistance. In response to this growing need, Service Coordinators spend the vast majority of their working hours in direct service to residents and make more than 60,000 contacts every 6 months with agencies serving senior residents.
- Through our Service Coordination programs, CCH personnel maintain a vast storehouse of information and a network of contacts with agencies and organizations offering vital, no-cost or reduced-cost supportive services to low-income seniors, including those who are frail or at-risk, as well as to minorities and the disabled.
- In addition to Service Coordination, CCH staff provide a continuous calendar of social, recreational, educational, and cultural events at each CCH-managed apartment complex. Programmed events range from English instruction classes, to exercise classes, to coffee and donuts, to the more familiar movie and bingo nights.
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