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HOUSING AUTHORITY OF THE CITY OF EL PASO 75 YEARS OF RESPECT + RESPONSIVENESS + RESULTS

2013 ANNUAL REPORT

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MISSION The mission of the Housing Authority of the City of El Paso is to provide safe, decent, and affordable housing to assisted families living at or below 80 percent of the area media income.

VISION The vision of the Housing Authority of the City of El Paso is to always accomplish its mission regardless of the level of funding it receives from the federal government.

TOP 10 FACTS HACEP is the largest public housing authority in Texas and the 14th largest in the United States. HACEP serves 40,000 low-income El Pasoans, or 6 percent of the city’s population, through its rental assistance programs. HACEP has achieved “High Performer” status every year since 2003 by the U.S. Department of Housing and Urban Development. Each year, HACEP infuses more than $9 million into the local economy through its capital construction and renovation projects and $30 million to private landlords who participate in the Housing Choice Voucher Program. HACEP operates 6,039 public housing units, 495 Section 8 New Construction units, 5,300 Housing Choice Vouchers, and 1,300 tax credit and non-subsidized units. HACEP operates a $91 million annual budget and has more than $204 million in net assets. HACEP provides more than a hand out, but a hand up through its homeownership program. Since 2003, more than 150 HACEP families have closed on their own home. In addition, thousands of individuals have attained their GED, learned English as a Second Language, and have attained sustainable employment. HACEP employs nearly 430 people from professional executives to welltrained craftsmen. HACEP is one of the most financially sound public housing authorities in the U.S. and earned an unqualified financial audit with no findings for the past three consecutive years. HACEP provides 170 HUD-VASH Vouchers and 15 Shelter Plus Care units for homeless veterans, 22 Shelter Plus Care units for chronically homeless disabled civilians, and 50 units for domestic farm laborers.

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SECTION 1 / MESSAGES

SECTION 2 / HACEP LEADERSHIP

PAGES 4-6

PAGE 9


SECTION 3 / ACCOMPLISHMENTS

SECTION 4 / FINANCIAL STATEMENTS

PAGES 11-17

PAGES 19-21

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SECTION 1 / MESSAGES + mayor’s message + chairman’s message + ceo’s message

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MAYOR’S MESSAGE Upon my election as Mayor in May 2013, my top priority was to learn about every department and division under the direction of the City of El Paso and to understand all of their challenges. I knew that after eight years of continuous leadership by the previous administration, some departments would require more attention to ensure that they perform at optimal efficiency and had the right people in charge to lead the way. At that time, one of the organizations that never made it to the top of my list of priorities was the Housing Authority of the City of El Paso. It seemed that everyone I spoke with had nothing but great things to say about this agency. Through the continuity of leadership by the Board of Commissioners, CEO Gerald Cichon and his administration, and the staff – many of whom have dozens of years of continuous service – it appeared to me that this agency has its sails fully unfurled on a calm open sea. That is not to say that occasion squalls and inclement weather were on HACEP’s horizon thanks to federal budgetary reductions, sequestration, and capital improvement concerns. However, I could quickly see that the right people with the right skills were running the ship in the right direction. It was only recently that I finally had a chance to meet the staff in early January 2014. It was then when I realized that everyone at HACEP has a deep passion to fulfill the mandates of it’s mission to provide safe, decent, and affordable housing to nearly 40,000 low-income El Pasoans every day. Through its consistent recognition as a High Performer by HUD, its solid financial performance, and headline development efforts, HACEP is raising the bar among its industry peers and placing El Paso on a map of affordable housing excellence across the country. This is yet another example of why in El Paso, “It’s All Good.” As the 75th Anniversary of HACEP winds down, it is an appropriate time to reflect on the past starting back when City Council incorporated the Housing Authority of the City of El Paso on February 17, 1938. Times were certainly different. El Paso’s population at that time was 89,000 people. World War II was just beginning, and the country was still recovering from the Great Depression and a severe drought. Fortunately, President Franklin Roosevelt’s New Deal kicked in under the auspices of the Public Works Association and then later with the U.S. Housing Authority. By this time, HACEP was just wrapping up the final touches of the Alamito Place in El Segundo Barrio, the first public housing community in El Paso. Featuring more than 350 units spread over 7 acres, Alamito was the first of what would become dozens of affordable housing communities sprinkled throughout El Paso at a rate that reflected the City’s expansion over the next seven and a half decades. Throughout this time, federal, state, and local regulations changed as did the look, amenities, demographics, and funding mechanisms of HACEP’s properties and programs. Despite all this, what has not changed throughout all of this time is the unwavering commitment of the staff to help others in need. Now the 40,000 children, elderly, disabled, and working-poor who call HACEP home represent 6 percent of the City’s population. With 75 years under its belt, I am confident that our local housing authority will be successful in its next 75 years to create additional affordable options for our most needy citizens. As El Paso continues a four-year trend as the safest large city in the U.S., we must not lose sight that there are more than 14,000 families on HACEP’s waiting lists patiently waiting for a hand up back to economic self-sufficiency. It has been said that the character of a community can best be judged by how it cares for its most vulnerable residents. The City of El Paso reaffirms the value of services provided by HACEP and looks forward to our continuing partnership in making El Paso a place we are all proud to call home. Sincerely,

Oscar Leeser Mayor of the City of El Paso

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Chairman’ S MESSAGE It has been my privilege to serve as the Chair of the HACEP Board of Commissioners since 2008. Over these last several years, I have seen firsthand the impact that this public housing authority, now the 14th largest in the nation, affects the lives of so many El Pasoans. I have seen a remarkable improvement in the way the staff and administration handle the day-today operations. I have witnessed record numbers of residents closed on their own home. And I have seen how industry leaders are turning their heads to El Paso for answers to the big questions that affect the other 3,100 public housing authorities in the country. This past year was filled with a number of accomplishments worth celebrating. The first is that our Public Housing and Housing Choice Voucher Programs continue to maintain their High Performance status as measured by the Public Housing Assessment System (PHAS) and the Section Eight Management Assessment Program (SEMAP). By earning a PHAS score of 96 and a SEMAP score of 90 this year, our affordable housing operations continue their high performance distinction for the third consecutive year despite reductions in federal revenue. Meanwhile, HACEP’s first mixed income, mixed finance community is being delivered on time and on budget. Eastside Crossings is our first engagement with a 9 percent tax credit secured through the State of Texas. It will feature 64 public housing units, 79 affordable units, and 45 market rate units built to LEED Silver equivalent standards. With a pool, two covered playgrounds, covered parking, walking trails, and a fitness center, this property is a sterling example of the new form of affordable housing for the Sun City. Another accomplishment is HACEP’s exceptionally strong current ratio on its balance sheet. Despite the shrinking budget from sequestration, HACEP continues to have one of the strongest balance sheets in the industry. Through fiscally prudent cash management strategies and wise investments in technology, HACEP is leading the way to do more with less. Through careful oversight and continuous reviews, HACEP has also earned an unqualified audit with no management findings for the third consecutive year. During a recent Board meeting, our third-party auditor mentioned that he audits 40 public housing authorities across the country and that it is “extremely rare” to find no findings in large housing authorities. However, risk exists within organizations that do not take action now to prepare for the challenges of the future. Since most of HACEP’s public housing properties were built prior to 1980, HACEP’s risk is continued deterioration of its units without sufficient federal funds to maintain them. For this reason, HACEP has taken the bold step to engage in the Rental Assistance Demonstration, or RAD, to convert 6,100 public housing units from conventional Section 9 public housing to Section 8 project-based rental assistance. Beginning in early 2015, HACEP will begin relocating residents out of their current units to invest approximately $500 million to rehabilitate them. When everything is complete in 2019, the City of El Paso will have the highest quality and most energy efficient public housing in the United States. These efforts will also ensure HACEP’s sound footing for at least the next 40 years. This is truly a bold project, but the Board of Commissioners are very confident in the ability of the staff to communicate and partner with our residents to ensure our success. Through these fine accomplishments, and the steps we are taking now to address the challenges of the future, I am confident that HACEP will continue to fulfill the mandates of its mission to provide safe, decent, and affordable housing in El Paso for the next 75 years.

Sincerely,

Joe Fernandez Chair of the HACEP Board of Commissioners

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CEO’S MESSAGE This year was an historic one for the Housing Authority of the City of El Paso. On February 17, 2013, we celebrated the 75th Anniversary with an evening of entertainment and awards with the staff, stakeholders, partners, and elected leaders who helped us become one of the largest and highest performing public housing authorities in the United States. From that point forward, we placed anniversary banners at all of our properties, acquired a time capsule, and helped organize a celebration with the Jurisdiction Wide Resident Council to commemorate our commitment to provide the safest and most affordable housing anywhere in the country. We have come a long way over the past 75 years. With 6,039 public housing units in active service, HACEP is now the 14th largest housing authority in the country. While part of the reason for HACEP’s growth is a result of new public housing units online, including the Paisano Green Community, our increased size is unfortunately more closely tied to the loss of public housing units in other parts of the country. Each year, approximately 10,000 public housing units are lost due to insufficiently appropriated funds by Congress to HUD. According to the Council of Large Public Housing Authorities, there is now a $26 billion backlog of capital needs in the 1 million public housing units across the country. For the 2013 budget, however, Congress appropriated $1.8 billion for capital improvements. Here in El Paso, HACEP conducted a comprehensive physical needs assessment and has determined that we have an $80 million need in capital improvements over the next five years, but anticipates only $25 million in funds during that same period. How is HACEP, let alone all of the other 3,100 public housing authorities in the U.S., going to address such a gap? The answer, at least for HACEP, is the Rental Assistance Demonstration (RAD) Program. On December 16, 2013, HUD approved HACEP’s application to convert 6,100 Section 9 public housing units to Section 8 project-based rental assistance units through the Rental Assistance Demonstration (RAD). Under RAD, HACEP will leverage private capital to address properties’ capital backlog and fund a capital replacement reserve for future repair and replacement needs. Since Congress approved 60,000 public housing units for RAD in FY2012, HACEP is the largest public housing authority in the U.S. to engage in this initiative. Beginning in January 2015, HACEP will start investing $500 million to rehabilitate and rebuild our units over the next five years to highest quality and most energy efficient standards. This, of course, will require the partnership and patience of our 20,000 residents as we temporarily relocate them to other public housing units while we spend anywhere from $35,000 to $80,000 per unit to eliminate asbestos, replace deteriorated duct work, switch from evaporative coolers to refrigerated air units, and install new cabinetry and Energy Star appliances. This is a massive undertaking. Fortunately, we are ready, our residents are ready, our City and County are ready, and HUD is ready for us to set our course on a sustainable trajectory for the next 40 years and lead the nation in transforming public housing as we know it. In the meantime, we will continue to focus on our customer service, eliminate inefficient business processes, and hire, train, and retain the best housing authority workforce anywhere in the country. As you read through this annual report, I hope that you gain renewed insight into an organization that has been and will always be committed to our mission by serving others in need with compassion while taking great pride in our recognition as one of the largest and highest performing housing authorities in the United States.

Sincerely,

Gerald W. Cichon Chief Executive Officer

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SECTION 2 / HACEP LEADERSHIP

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boa rd o f C O M M I S S I O N E R S

Sue Pratt Vice Chair

Lupita Licerio Resident Commissioner

Lynn Coyle Commissioner

Kevin Quinn Commissioner

EXECUTIVE STAFF

Satish Bhaskar Chief Financial Officer

Shane Griffith Public Information & Government Relations Officer

Stan Waterhouse Chief Operating Officer

Lorena Rivera Director of the Housing Choice Voucher Program

Juan Rivera Director of Development & Capital Projects

William Zeigler Chief Human Resources Officer

Yolanda Dion Director of Budgets

Hector Montoya Director of Finance

Roman Velasquez Director of Public Housing

Gary Knudsen Director of Information Technology

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SECTION 3 / ACCOMPLISHMENTS + 75th ANNIVERSARY CELEBRATIONS + 2013 ACCOMPLISHMENTS & AWARDS + HOUSING ACQUISITION CORPORATION + PAISANO HOUSING REDEVELOPEMENT CORPORATION + PROVIDING A HAND UP + COMMUNITY PARTNERS + HACEP & HAC EMPLOYEES

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75th anniversary

celebrations Back in 1938, times were a little different than they are now. Snow White and the Seven Dwarfs, the first animated full-length movie, was released. Howard Hughes set a new record by flying around the world in only 91 hours. And Germany was busy occupying other countries like Austria and Czechoslovakia. Closer to home, local leaders were busy putting the final touches on the documents that formed the Housing Authority of the City of El Paso, Texas on February 17 of that year. It was out of the midst of the Great Depression that public housing authorities like HACEP were created by municipal ordinance to provide safe, decent, and affordable housing to those who needed it most. It all started with the construction of the Alamito Community in south central El Paso on the skirts of El Segundo Barrio - a vibrant, but economicallydisadvantaged part of town where many immigrants from Mexico made their start in the United States. Constructed in 1941, Alamito embodied the ideals of Roosevelt’s New Deal - to create jobs, improve real estate, and help the working poor get on their feet. Now, 75 years later, Alamito stands today with bright new buildings, energy star homes, and with families of all demographics living near each other. Farther down the road at the corner of East Paisano and Boone, the Paisano Green Community was completed in 2012. Its energy efficient building envelopes, 650-plus solar panels, and two wind turbines have taken the concept of affordable housing to a new level. Due to its net zero status, the 73 elderly families who live here pay virtually no energy bills since the property produces as much energy as the residents consume.

While the look of our communities has changed over the years, our unwavering commitment to help others in need has not. Day after day, year after year, decade after decade, HACEP continuously fulfills the mandates of our mission. Now, the 40,000 children, elderly, disabled, formerly homeless, and workingpoor residents who call HACEP home represent 6 percent of the City’s population. Over time, HACEP has proudly helped hundreds of thousands of people find a home over the past 75 years. To commemorate our history 75th Anniversary, HACEP coordinated a series of events to recognize many of the dedicated volunteers and staff who served the residents over the years. In February, we hosted a 75th Anniversary Gala at the beautiful Grace Gardens banquet facility. The keynote speaker was Saul Ramirez, Jr., CEO of the National Association of Housing and Redevelopment Officials (NAHRO). Staff, residents, and partners were recognized. In August, the Commissioners sealed a 75th Anniversary time capsule in which residents

and staff placed letters, communication materials, uniforms, logos, photos, and news articles that will help preserve HACEP’s history. The time capsule is on display in the breezeway next to the Board of Commissioners Room and will be opened on February 17, 2038 during the 100th Anniversary of HACEP. In December, HACEP and the Jurisdiction Wide Resident Council hosted a 75th celebration for residents complete with food, music, and dancing. This year was packed with celebrations, milestones, and visions for the future. The one thing that will not change is our commitment to our residents, our stewardship of our public resources, and our focus to make our operations as efficient and customer centric as possible. Left to Right, Top to Bottom Alamito, 1938 Time Capsule Sealing Ceremony Mr. Velasquez with Resident at Resident Party Kitchen Interior, 1953 Cheerleader at Alamito, 1955 75th Anniversary Gala

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HACEP ACCOMPLISHMENTS Whether it’s maintaining our high performance status in Public Housing and the Housing Choice Voucher Programs, receiving prominent media coverage in both El Paso and across the U.S., or earning awards for our innovative programs and initiatives, HACEP works hard every day to deliver the most effective and efficient service to all of our clients, residents, business partners, and stakeholders. These accomplishments are a reflection of the efforts of the staff who dedicate their professional lives to serving El Paso’s economically-challenged residents. HACEP Recieves NAHRO Award of Excellence

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HACEP 2013 AWARDS

DEPARTMENT OF FINANCE

• Award of Excellence in Project Design for Paisano Green Community by National Association of Housing and Redevelopment Officials. • Best Newsletter, Southwest (NAHRO). • Best Annual Report, Public Relations Association of the Southwest. • Best Event - Paisano Green Community Ribbon Cutting Ceremony, Public Relations Association of the Southwest. • Best External Publication - Innovative Solutions booklet, Public Relations Association of the Southwest.

• Unqualified audit opinion with no management findings for the third consecutive year. • Implemented an integrated Payroll and Talent Management System. • Launched a Risk Management Leadership Team. • Achieved 25 out of 25 points on the Financial Assessment Subsystem (FASS). • Upgraded all PC-based computers to thin client in a shared server enterprise environment.


Paisano Green Community

phas scores

SEMAP SCORES

96

95

93

90

93

100

2013

2012

2011

2013

2012

2011

PUBLIC HOUSING PROGRAMS

DEPARTMENT OF HOUSING CHOICE VOUCHER

• PHAS High Performer for third consecutive year. • Youth Summer Conference with UTEP – increased to 400 HACEP youth participants. • Graduated first class of the Alpha Youth Leadership Academy. • Implemented new training standards and advancement opportunities for maintenance personnel. • Redesigned work order procedures and call center operations to enhance customer service and response times.

• SEMAP High Performer for fourth consecutive year. • Integrated Public Housing and HCV admissions and eligibility departments. • Replaced outdated handheld devices with tablets to enter inspection data and instantly upload data into client files. • Created a Master Scheduler by consolidating the separate scheduling functions of the Public Housing and HCV Pro grams into a single-person operation. • Awarded an additional 25 HUD-VASH vouchers for a total of 170 for homeless veterans. • Automated participant files by converting electronic images into PDF documents and uploaded them to the e-HACEP system including Enterprise Income Verification (EIVs), HAP contracts, tenancy addendums, and HUD forms 50058. • Helped 22 families purchase their home through the FSS/Homeownership program.

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Berenice Yoder and Rosa Portillo, right, helped Dale and Barbara Adams relocate into a new apartment after their mobile home in Socorro was destroyed in September 2013 from flood waters. Mr. Adams, a Veteran of the Vietnam War, is grateful to all the people from the Red Cross, the Salvation Army, and HAC who helped him and his wife through their difficult experience.

hACEP acquisition corporation (hac) The HACEP Acquisition Corporation, doing business as Housing Acquisition Corporation, or simply HAC, is a wholly owned subsidiary of the Housing Authority of the City of El Paso. HAC manages 1,288 Low Income Housing Tax Credit (LIHTC) and Non Subsidized (or Non-Annual Contributions Contract NonACC) properties. Both programs provide affordable housing to tenants who can afford to pay rents at 60 percent of the area median income. The LIHTC program is a dollar-for-dollar tax credit in the United States for affordable housing investments. It was created under the Tax Reform Act of 1986 (TRA86) that gives incentives for developers both public and private to create HAC currently invests through a limited partnership with the following entities, each of which has a property of the same name:

name Bienvivir Parkside Ltd. Cedar Oaks Ltd. Meadowbrook Townhomes Ltd. North Mountain Ltd. Saul Kleinfeld Ltd. Western Pebble Hills Ltd. Western Pellicano Ltd.

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units 56 160 25 200 30 30 30 Total: 531

affordable housing aimed at low-income Americans. LIHTC accounts for the majority - approximately 90 percent - of all affordable rental housing created in the United States today. The primary goal of HAC is to provide property management services to owned and non-owned affordable and other multifamily properties. HAC is managed by a professional team of 35 employees who specialize in property management, maintenance, and finance.

HAC also provides property management services to the following non-owned tax credit and market rate properties, each of which has a property of the same name:

ENTITY Desert Sun Las Casita Lee Seniors Ltd. Lomaland Townhomes Orchard St. Johns Villa Alegre Western Burgundy Ltd. Western Carolina Ltd. Western Crosby Ltd. Western Eastside Seniors Ltd. Western Gallagher Ltd. Western Redd Road Ltd. Western Yarbrough Ltd.

units 28 5 19 14 4 12 369 64 56 56 19 49 30 32 Total: 757


Eastside Crossings Expected Completetion Fall 2014

Paisano Housing Redevelopment Corporation The Paisano Housing Redevelopment Corporation (PHRC) is a non-profit 501(c)(3) instrumentality of HACEP.

Alamito Terrace

In 2007, PHRC developed Alamito Terrace through Alamito Terrace GP, LLC. PHRC owns 100% as a general partner of the 76 units in a Low-Income Housing Tax Credit real estate partnership designated for elderly residents. PHRC was also the developer of this property which was completed in 2010.

Alamito Gardens

In 2007, the PHRC development Alamito Terrace created Alamito Gardens GP, LLC. PHRC owns 100 of this property in order to serve a General Partner for future construction project of 142 units in a Low-Income Housing Tax Credit real estate partnership designated for elderly residents. PHRC was also the developer of this property which was completed in 2011.

Arrowhead Place

In late 2012, PHRC acquired the General Partnership of this 24 unit complex. As General Partner, PHRC will provide oversight of the financial and operational compliance.

Bienvivir Parkside Seniors

Bienvivir is a 56-unit affordable housing community of which PHRC maintains an investment in this limited partnership.

Eastside Crossings

In 2012, the PHRC development Alamito Terrace created Eastside Crossings GP, LLC. PHRC owns 100 of this property in order to serve a General Partner for construction project of 188 units in a Low-Income Housing Tax Credit real estate partnership. PHRC is also the developer of this property, which will be completed in 2013.

Kenworthy

In 2011, PHRC acquired 47 acres of land on the Eastside of El Paso. Site improvement work is currently underway. This site will be utilized for the development of a mixed-income, mixed-finance community in the years to come.

Western Sunshine

In late 2012, PHRC acquired the General Partnership of this 36-unit community. As General Partner, PHRC will provide oversight of the financial and operational compliance.

Elvin Estates

In 2012, PHRC development Alamito Terrace obtained a grant from the City of El Paso for the construction of a 15-unit elderly apartment community. Construction of this project was finished in March 2013.

Geronimo Trail Townhomes

In late 2012, PHRC acquired the General Partnership of this 22-unit community. As General Partner, PHRC will provide oversight of the financial and operational compliance.

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providing a hand up The mission of HACEP extends beyond our asset and voucher management operations. In order to effectively address the generational nature of dependence on government subsidized housing, HACEP focuses its community outreach efforts on the youth and upwardly mobile adults to empower them with the skills, support, and encouragement they need to attain their dreams and graduate from the subsidized housing lifestyle. As families successfully leave our housing programs, they then open a slot for another family who has patiently waited for their turn to receive housing assistance. Alpha Youth Leadership Academy

COMMUNITY PARTNERS AVANCE – El Paso Border Network for Human Rights • Boys & Girls Clubs of El Paso • Celebrando La Recuperación • Child Crisis Center of El Paso • Children’s Kingdom Learning • Christian Joy Center Academy • City of El Paso Department of Community and Human Development • City of El Paso Department of Public Health • County of El Paso Elections Department • El Paso Affordable Housing CUSO • El Paso Collaborative for Community and Economic Development • El Paso Community College • El Paso County Juvenile Probation Department • El Paso Exploreum • El Paso First Health Plans • El Paso Police

Quad HOT Summer Conference

Department • El Paso Public Libraries • El Paso Water Utilities • El Paso Veterans Affairs Health Care System • Federal Reserve Bank of Dallas, El Paso Branch • Greater El Paso Association of Realtors (GEPAR) • HAI Group • KaBoom! • Las Americas Immigrant Advocacy Center Latinitas, Inc. • Molina Health Care • Pan American Health Organization • Paso del Norte Health Foundation • Project ARRIBA • Project Bravo • Project VIDA Health Center • Region 19 Migrant Education Program • Robles and Associates • Rio Grande Council of Governments - Area Agency on Aging • Southwest Gospel Ministries • Teachers Federal Credit Union • Texas AgriLife Extension Service • Texas Department of Aging and Disability Services • Texas Tech University Health Sciences Center School • University of Texas at El Paso • Visiting Nurses Association (VNA) • VOLAR Center for Independent Living • Workforce Solutions Upper Rio Grande • Ysleta Independent School District • YWCA - El Paso del Norte Region

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Back to School Supply Drive


As of December 2013

HACEP EMPLOYEES Miguel A. Acuna • Martha Adame • Arturo Aguilar • Cruz Aguilar • Gustavo Aguilar • German R. Aguilera • Pedro R. Aleman • Armando Almanza • Jose D. Alonso • Monica N. Alonzo • Alma R. Alvarado • Antonio Alvarez • Carlos R. Alvarez • Joseph Amor • Lilia R. Anaya • Alma R Andrade • Victor M. Arambula • Lorraine Arellano • Martha Arellano • Luis E. Arias • Steve C. Armstrong • Armida N Arredondo • Rodolfo Arredondo • Miguel A. Avalos • Eddie Avila • Hector M. Avila • Manuel A. Ayala • Carlos J. Baca • Bertha Balandran • Marcos Balbuena JR. • Christian Balderrama • Jesus A. Baquera • Raul M. Barba • Roberto Barron JR. • Oscar Beanes • Sylvia Beard • Ruben Bernal • Ruth S. Bersch • Satish Bhaskar • Robert Bueno • Antonio R. Bugarin • Eric Bustillos • Jose L. Cabral • Berta Camacho • Laura A. Camarillo • Miguel A. Campa • Maria B. Campos • Gabriel Candia • Rafael Caraveo JR. • Martin R. Cardenas • Daniel Carranco • Oscar M. Carrasco • Jesus Carrejo • Lourdes P. Carrera • Claudia Carrillo • Grace Carrillo • Rodolfo R. Carrillo • Jose A. Casas • Eric G. Castaneda • Juan Castaneda • Jose Castanon • Jesus A. Castillo • Carlos Cazares • Raymond A. Chaires • Fernando J. Chasco • Adan Chavez • Bertha E. Chavez • Michael R Chavez • Gerald W. Cichon • Jose A. Cintron • Jose D. Colmenero • Manuel Colorado • Hector R. Conejo • Adela Contreras • Maria Corona • Ramon F. Corona • Alejandra Cortez • Eduardo Cortez • Susana M. Cos • Gilberto Cruz • Ruben Cueto • Phuoc H. Dang • Margaret C. Davis • Sonia De La Cruz • Oscar De La Rosa • Hector Del Palacio • Juan R. Del Rivero • Claudia I. Delgado • Armando Diaz • Jaime M. Diaz • Mario Diaz • Ramiro A. Diaz • Sylvia Diaz-striplin • Blanca Dominguez • Ricardo Dominguez • Gloria E. Dore • Joseph L. Dovenbarger • Jorge L. Dozal • Irma A. Duarte • Gaylynn S. Duran • Michael A. Duran • Linda Elmendorff • Manuel E. Encinas • Jose A. Enriquez • Amanda Zita Escobar • David Escobar • Maharai Esquivel • Martha J. Esquivel • Rita Yolanda Esquivel • Judith Estrada • Lorraine Estrada • Michael A. Evans • Godofredo Faudoa • Jose R. Favela • Arturo Flores • Ezequiel Flores • Juana Flores • Maria C. Flores • Mario F. Flores • Veronica Flores • Veronica A. Flores • Rita Galaviz • Marcos Galindo • Jose L. Gallinar • Sonia Gamboa • Leopoldo Garcia JR. • Elizabeth Garcia • Jose M. Garcia • Karyn Garcia • Luis E. Garcia • Maria Garcia • Roberto Garcia • Rodolfo Garcia • Vanessa Garcia • Omar A. Gardea • Ricardo S. Gaytan • Alejandra Gomez • Jose L. Gomez • Maribel Gomez • Sonia Gomez • Alberto Gonzales • George E. Gonzalez • Jose A. Gonzalez • Nydia Gonzalez • Robert F. Gonzalez • Salvador Gonzalez • Annabelle Gonzalez-Ortiz • Gerald L. Gordier • James R. Grado • Rocio Granados • Shane B. Griffith • Patricia Guerra • Josefina Guerrero • Jose L. Gutierrez • Richard Guzman • Gene D. Gwyn • Diana Heredia • Sergio Hermesdorf • Robert J. Hernandez JR. • Alejandro Hernandez • David Hernandez • Edward Hernandez • Jesus T. Hernandez • Leticia Hernandez • Luis A. Hernandez • Maria A. Hernandez • Maria Luisa Hernandez • Miguel A. Hernandez • Cassandra R. Herrera • Jesus Roberto Herrera • Luis Herrera • Ricardo Herrera • Virginia R. Hill • Enrique Hinojos JR. • Jose A. Holguin • Pedro D. Huerta • Zulema Huerta • Ricardo Jacquez • Raul Jaramillo • Azael A. Jimenez • Francisco M Jimenez • Juan Francisco Jimenez • Louis Johnson • Pamela R. Kimbell • Gary A. Knudsen • Gilberto Laca • Sonia Legarretta • Jeremy S. Lehman • Carlos Leon • Lorenzo A. Lira • Carlos M. Lopez JR. • Jose E. Lopez • Mariza Lopez ��� Martin Loya • Alfredo Lozano • Bertha A. Lucero • Santos Luevano • Jose G. Lujan • Amanda R. MacIas • Jaime G. MacIas • Ricardo Maese • Arturo Magallanez • Ricardo Maldonado • Victor Maldonado • Victor Mancha • Carlos Manzano • Monica Marin • Ana L. Marquez • Martha L. Marrufo • Deborah Martinez • Jose A. Martinez • Luis F. Martinez • Michael J. Martinez • Omar L. Martinez • Raul L. Martinez • Rebecca Martinez • Roberto Martinez • Sonya E. Martinez • Maria De Los Angeles Martos • Alfredo Mascorro • Santos L. McGuinness • Arturo Medina • David Medina • Gregorio Medina • Robert Medrano • Sergio M Melendez • Marta C. Mena • Jesus J. Mendez • Eduardo Miranda • Priscilla Miranda • Luis G. Mireles • Armando Molina • Jose L. Molina • Roman Montelongo • Raul G. Montes • Martin J. Montez • Cynthia M. Montion • Hector R. Montoya • Salvador J. Montoya • Reyna E Mora • Carlos Morales • Gerardo Morales • Hector Morales • Judith Morales • Morayma Morales • Nadia P. Morales • Jose Luis Moreno • Leonardo D. Moreno • Lisa K. Mota • Roman Moya • Felix Muniz • Jose Munoz JR. • Cynthia Munoz • Jaime Munoz • Jesus G. Munoz • Richard B. Munoz • Sergio T. Nahle • George E. Navarro • Stephen J. Navarro • Cipriano Nevarez • David Nieto • Jose Luis Nunez • Maria Angelica H. O’Brien • Juan A. Olvera • Alicia Ornelas • Manuel Ornelas • Ramon C. Ortega • Enrique Ortiz • Jose A. Ortiz JR. • Jose L. Ortiz • Daniel Pacheco • Miguel A. Pacheco • Saul Pacheco • David A. Padilla • Robert K. Paige • Monica A. Parra • Rex K Parsons • Lillian C. Payan • Albert Pedregon • Joel Pena • Linda A. Pena • Angelica M. Perales • Luis Ruben Perales • David Perez • Juan L. Perez • Lisandra P. Piper • Alfredo Pizarro • Guillermo Pizarro • Lucila M. Polar • Alfredo Ponce • Robert P. Porras • Rosalinda Portillo • Manuel Prieto JR. • Juan C. Prieto • Arthur S Provenghi • Lourdes P. Quezada • Lucio G. Ramirez • Martin E. Ramirez • Juan M. Ramos • Laura Ramos • Alonzo Rangel • Hector Rangel • Luz Marcela Renteria • Claudia L. Renteria-Arras • Tomas Reveles • Miguel B. Reyes • Elizabeth N. Reza • Manuel Reza • Jeannette L Richie • Dolores Rivera • Lorena Rivera • Arturo Roa • Arturo Robles • Gilberto Robles • Lydia Aguirre Rocha • Bernardo Rodriguez JR. • Eugene Rodriguez • Jesus P. Rodriguez • Olivia Rodriguez • Pedro J Rodriguez • Veronica Rodriguez • Tanya M. Rohwer • Carlos Rojas • Gustavo A. Rojas • Alejandro Romero • Maria D. Romero • Ann Romo • Rocio Rubio • Ernesto R. Ruiz • Aracely G. Saenz • Oscar Salcido • Esteban Salgado • Manuel S. Salinas • Glenn Samples • Rene A. Sanchez • Oscar S. Serrano • Juan R. Sifuentes • Ida Silva • David F. Smith • Elizabeth A. Smith • Carlos Soto • Norma Soto • Jose Talavera JR. • Richard Talavera • David Tapia • Hugo F. Tellez • Jonathan Terrazas • James Tobias • Jorge G. Torres • Marcos Torres • Maria Lourdes Torres • Miguel A. Torres • Ruben Trevino • Rosalba Urbina • Erika Valadez • Juan Valdez JR. • Melissa T. Valdez • Julie S. Valdivia • Carlos A. Valles • Juan Valles • Mario Valles • Raymond Valles • Norma B. Vara • Antioco Varela • Antonio Vasquez • Sergio R. Vasquez • Celia Velasquez • Roman Baltazar Velasquez • Antonio Vilchis • Maria A. Villanueva • Guillermo Villasenor • Jose M. Villegas • Ismael Villela • Carlos Wall • Charles S. Waterhouse • Alexandra N. Welch-Quarm • Thomas Manuel White • Lucia R. Wiesinger • Jose E. Wong • Rosa M. Yanez • Berenice Yoder • Charles E. Young • Raul Zavala • William Zeigler • Dolly I. Zengotita •

HAC EMPLOYEES Robert Bagby • David Balderrama • Jose Luis Cabriales • Rafael Castillo • Marcela Ivette Chavez • Victor M Cisneros • Alejandro Delgado Jr. • Monica Delgado • Hector Fuenes • Laura Gill • Adrian Gonzalez • Ramon Gutierrez Jr. • Laura L Gutierrez • Enrique Ibarra • Nohemi Leyva de Trevizo • Brenda Longoria • Jesus J Lopez • Osvaldo R Lopez • Jose A Lozano • Edgar Mendoza • Armando Muro • Teresa Nanez • Gerardo Ochoa • Roy Padilla • Lily Perez • Danny Quinones • Alfredo Rayas • Raul Reyes • Graciela Reza • Alfonso E Rojas • Aaron A Salais • Sylvia G Sealey • Juan D Vasquez • Lizette Velarde • Ramon Zubia

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SECTION 4 / FINANCIAL STATEMENTS + STATEMENTS OF NET ASSETS + STATEMENTS OF REVENUE, EXPENSES, AND CHANGES IN NET ASSETS + STATEMENTS OF CASH FLOWS + CAPITAL ASSETS

18


FINANCIAL STATEMENTS STATEMENTS OF Net Assets

YEAR ENDED JUNE 30,

(IN THOUSANDS)

2013

2012

2011

$70,035

$62,838

$65,755

6,429

9,835

10,503

28,461

27,131

26,221

129,910

126,105

117,761

$234,835

$225,909

$220,240

Current Liabilities

$8,829

$8,842

$12,910

Noncurrent Liabilities

16,474

9,230

7,498

25,303

18,072

20,408

209,532

207,837

199,832

$234,835

$225,909

$220,240

ASSETS Current Assets Restricted Assets Other Assets, noncurrent Capital Assets, net

TOTAL assetS liabilities

TOTAL liabilities net assetS TOTAL liabilities & net assets liabilities and net assets (in millions)

2013

2012

2011

$235

$226

$220 19


STATEMENTS OF

Revenue, Expenses, and Changes in Net Assets

YEAR ENDED JUNE 30,

(IN THOUSANDS)

2013

2012

2011

$18,463

$17,800

$17, 295

51,201

50,375

59,096

4,537

6,139

3,140

74,201

74,312

79,531

Operating Expenses

37,180

39,713

38,388

Depreciation Expense

10,219

7,962

7,203

Housing Assistance Payments

31,597

30,767

28,244

TOTAL EXPENSES

78,996

78,442

73,835

Operating Profit (loss)

(4,795)

(4,130)

5,696

(266)

264

(1,886)

(5,061)

(3,866)

3,810

6,756

11,871

20,993

1,695

8,005

24,803

207,837

199,832

175,029

$209,532

$207,837

$199,832

OPERATING REVENUE Dwelling Rental Federal, State & Local Grants Other Revenues

TOTAL OPERATING REVENUES EXPENSES

Non-Operating Revenues (Expenses), Net

Net Income (loss) before Capital Grants Capital Grants

Increase in Net Assets Net Assets, Beginning of the Year, as Restated

NET ASSETS, END OF YEAR

20


STATEMENTS OF CASH FLOWS YEAR ENDED JUNE 30,

(IN THOUSANDS)

2013

2012

2011

Cash Flows Provided by Operating Activities

$4,228

$3,630

$27,832

Cash Flows used by Capital & Related Financing Activities

(1,918)

(3,502)

(6,068)

2,842

160

(2640)

Net Increase in Cash

5,152

288

19,124

Cash and Cash Equivalent, Beginning of Year

65,529

65,241

46,117

$70,681

$65,529

$65,241

Land

$31,109

$31,151

$31,139

Building and Improvement

313,274

302, 251

273,000

Furniture and Equipment

14,100

13,425

12,623

Construction in Progress

19,097

16,823

30,729

TOTAL capital assetS

377,580

363,650

347,491

Less Accumulated Depreciation

(247,670)

(237,546)

(229,730)

$129,910

$126,104

$117,761

Cash Flows Provided (Used) by Investing Activities

cash and Cash equivalents, end of year

CAPITAL ASSETS

capitaL assetS, net

21


THE HOUSING AUTHORITY OF EL PASO 5300 EAST PAISANO DRIVE, EL PASO texas , 79905 WWW.HACEP.ORG

22

SPECIAL THANKS TO THE GRAPHIC DESIGN DEPARTMENT AT THE UNIVERSITY OF TEXAS AT EL PASO DESIGNER : DAVID PADILLA /ART DIRECTOR : CLIVE COCHRAN


HACEP 2013 ANNUAL REPORT