CCWBE Report

90%

• Steps were taken to consider long term funding for the Dovie Trust, beyond expiration of CWEB support, with a meeting with consultant for state legislation and communications with chair of state task force on CLTs for presentation of Dovie Trust model for multi-family housing strategies. • A job announcement was posted on Voice’s website as an initial step of HR Recruitment for a combined position: Managing Director of the Voice Owner’s Network Program and the Dovie Thurman Affordable Housing Trust, a shared role that makes sense during the start-up/fiscal agency period for the Trust and until sustainable funding for the position/overhead is won. • Training advanced with the Owner Services Specialist added to the Voice team, a position funded through Americorps VISTA, but one that can professionally support our Trust start-up activities. • The Board meeting was set back for the Dovie Trust this month, even as options for governance strategies were advanced with consultations with key board members, and considerations for turnover anticipated on board were made, and by-law drafts were in process with University of Chicago Department of Law, Housing Initiatives Transactional Clinic – as outside CWEB TA Provider. • As previously reported, a long-awaited approval by the lender on 3 pilot Trust properties for approval of “covenants” of permanent affordability, turned out to be inadequate with onerous conditions. It has prompted a new strategy for where we will reach out to supportive lenders and community development financial institutions in a way where we can not only enlist support for such covenants, but also for the marketing/promotion of the community land trust concept/strategy for affordable rental housing. (See more under Goal 3 below.)

90%

• The primary membership benefit being advanced at the present time, given other organizational development, funding and outreach challenges, is on property tax relief. • Voice has won property tax exemption status on three pilot Trust properties, and applied in September for refunds anticipated and due during the final quarter of this calendar year. These are refunds from tax escrows and refunds from current year’s taxes, and three prior years’ taxes (preceding triennial assessment), with help from legal counsel on the latter. Despite setbacks on covenants approval, the strong financials of these three properties, with better cash flows going forward, bodes well for lender/cdfi RFP or “structured outreach” referenced above and below. • Following on the Social Cost Appeal training session in July, we are anticipating time required to support with technical assistance other groups who may want to apply for tax relief in West of Lakeview Township during the next few months, with LUCHA on the calendar with others for consultation sessions.

80%

• Cash flow challenges/delayed funding has caused some items to be advanced with staff and volunteer help. One such activity is about the branding, logos, letterhead and literatures for the Dovie Thurman Affordable Housing Trust. Meetings/Communications were initiated and advancement in promotional materials for Trust fundraising is expected in October, Branding for Trust Literature in November. • Although we have workplan objectives for this, and have requested technical assistance on developing “Marketing Plans”, we’ve learned that this is not available from currently funded CWEB vendors, except indirectly through funding by CCLF of the Owner Initiatives consulting assistance. Communications happened during the month to enable a draft proposal to be generated for our review/approval in late October/November. Our internally generated draft plans will be drafted in November, both timed for presentations of “Pre-Development Projects” to potential lenders/funders in December. • Even with systemic challenges, opportunities were seized during the reporting period to further education to political representatives at meetings with them on pending projects, with advocates of affordable housing (on legislative committees), the public at large at the massive Townhall that concluded the month.

No

Both

Yes

Somewhat unuseful

Very useful

0

0

7

9

At our meeting of August with leaders of Planning Department and CWEB program on budgeting and vouchering on personnel costs, the assurance was made about the City's intent to help grantees fully draw down funds committed. We were also encouraged to request assistance, or a meeting, should we need follow-support. We have been having problems with the "proof of progress" documentation requirements of the program. Our Dovie Thurman Affordable Housing Trust initiative is an organizational start-up, which differs greatly from a traditional "Pre-Development" project that have a range of acquisition, building, professional and property management "reimbursable costs" that are easy to document. In furtherance of our objectives and workplan, much of our work is in the form of administrative tasks, meeting prep, routine phone and communications with TA Providers, allies, leaders, prospective supporters and potential future members of the trust. Because we do not record our time/tasks like a law firm who bills in 6-minute increments, we are having trouble backing up our all work tasks with documents that might easily satisfy the intent of the "proof of progress" requirements. This has been communicated as an important step in getting guidance for pending and planned voucher requests.

At our meeting of August with leaders of Planning Department and CWEB program on budgeting and vouchering on personnel costs, the assurance was made about the City's intent to help grantees fully draw down funds committed. We were also encouraged to request assistance, or a meeting, should we need follow-support. We have been having problems with the "proof of progress" documentation requirements of the program. Our Dovie Thurman Affordable Housing Trust initiative is an organizational start-up, which differs greatly from a traditional "Pre-Development" project that have a range of acquisition, building, professional and property management "reimbursable costs" that are easy to document. In furtherance of our objectives and workplan, much of our work is in the form of administrative tasks, meeting prep, routine phone and communications with TA Providers, allies, leaders, prospective supporters and potential future members of the trust. Because we do not record our time/tasks like a law firm who bills in 6-minute increments, we are having trouble backing up our all work tasks with documents that might easily satisfy the intent of the "proof of progress" requirements. This has been communicated as an important step in getting guidance for pending and planned voucher requests.