Vision Mission Impact COMMUNITY REPORT
2015
2015 IDAHO HOUSING AND FINANCE ASSOCIATION HIGHLIGHTS Our Mission
Our vision, mission, and impact is making a real difference in Idaho’s economy and the lives of families and individuals.
Idaho Housing and Finance Association improves lives and strengthens Idaho communities by expanding housing opportunities, building selfsufficiency, and fostering economic development.
Economic Impact $223.8M
Economic Development
$1.18B IHFA's investment in Idaho
$50.1M
Rental Assistance
$34.9M
4,384
$15.3M
$1.0M
$13.0M
Jobs Created (Construction Industry)
State Income Tax
State Sales Tax Collection
$3.3M
$164.6M
$30.7M
$350,916
Idaho Personal Income
Federal Income Tax
Property Tax
Rental Housing Grants
Homeless Services
$854.8M
Homeownership
HOMEOWNERSHIP AND HOMEBUYER EDUCATION Mortgage Loans Lending Landscape HOMEOWNERSHIP
$835M 5,832
New loans financed 97 Participating lending organizations
EDUCATION
37
• •
Idaho $3.4B (34,701) Other HFAs* $528.7M (4,563)
* IHFA partners with other state HFAs to provide loan servicing support.
2.6
Average family size
$45,891
$4,196
$149,735
3,792
$143,321
$6.1M
$889
Average amount of down payment assistance
588
Down payment assistance recipients
took the class in-person
4,019
4 out of 5 are first-time homebuyers
Free Housing Counseling Foreclosure 214 Reverse 1,720 prevention 102 mortgage
• 250
MORTGAGES
Average age range of Finally Home! Homebuyer Education graduates
took the class online
$4.0B
DOWN PAYMENT ASSISTANCE
25-30
Average age
Average borrower income
Loans serviced (39,264)
IHFA supports homeownership through loan servicing, homebuyer education, and free housing counseling services.
• 500
• 750
Invested in Down Payment Assistance 2nd Mortgage Program loans
Average home price
Average mortgage
Average monthly payment ($644 + taxes/insurance)
2,131 Clients served Pre-purchase assistance
• 1000
56
Rental housing/ prevention
• 1,250
35 Homelessness 4 Post-purchase
• 1,500
• 1,750
• 2,000
• 2.250
RENTAL ASSISTANCE AND RENTAL HOUSING
We assist renters in obtaining safe, decent, affordable housing through multifamily development financing, project-based subsidies, and rent vouchers.
30
60
25
50
20
18,769
40
15
30
10
20
5
10
RENTAL ASSISTANCE (in millions of dollars)
FAMILIES ASSISTED (in thousands)
$65.2M
291
55
Participants
HousingIdaho.com
2 6 3 4 5 TOTAL
Rental listing search engine Rental acquisition/rehab
Rental new construction
3 units
37 units
1,324 Landlords (FY15) 20,177 Total units listed • 10,000
AFFORDABLE HOUSING UNITS TAX CREDITS
• 15,000
60
$653,981
$6.2M
152
$1.7M
$15.9M
2
86
$1.2M
$11.6M
6
298
$149,374 $3.7M
$1.3M $35.0M
• 25,000
• 30,000
DEVELOPMENT
LOCATION
TOTAL UNITS
AFFORDABLE UNITS
1
Tullamore Commons II Milltown Apartments
Post Falls Sandpoint
51 51
40 40
3
Vineyard at Broadmore Greystone Court Apartments
Nampa Caldwell
38 40
34 40
6
Bandon River
Idaho Falls
48 228
47 201
REGION
1
• 20,000
Rental Housing Placed in Service
TAX CREDIT EQUITY GENERATED
3
* As of December 1, 2014
FY15 homeowners
31,610 Visitors (FY15)
Rental Housing Tax Credit Allocations* NUMBER OF PROJECTS
5
FY15 graduates
• 5,000
REGIONS
$4.6M
$200,325
Section 8 Project-Based Rental Assistance • $50.1M (14,849 families) Housing Choice Voucher Program • $15.2M (3,920 families)
1
HOME Program
Family Self-Sufficiency Program
TOTAL
ECONOMIC DEVELOPMENT AND SMALL BUSINESS LENDING Economic Development
IHFA invests in the infrastructure of Idaho by funding economic development and small business lending.
Collateral Support Program $6.4M
$188.9M
Nonprofit facilities bonds/loans
568
62
$10.0M
Non-housingrelated finance
Manufacturing related bonds/loans
$34.8M
Jobs created or retained
Businesses served
Private loans generated
$5.1M Partnering lender loans
$172.5M
Transportation/GARVEE Bonds*
x 2 Charter schools
BSU Alumni Center
Tamarack Mill
GARVEE
11
Medical
22
Service
11
Retail
7
Agriculture
11
Manufacturing
* A portion of Idaho’s outstanding GARVEE debt was refinanced, saving the state more than $12.7 million over the next decade.
HOMELESS SERVICES
Perhaps most importantly, we are there to meet critical needs of the most vulnerable in Idaho's communities.
FUNDS EXPENDED (in millions of dollars)
Continuum of Care Services 3.5
$3.3M
Home Partnership Foundation
3.0 2.5 2.0 1.5
1,167
Emergency shelter
557
Transitional housing
1.0 .5 0
• Housing Opportunities for People with HIV/AIDS $378,715 Solutions Grants $829,546 • Emergency • Continuum of Care Program $2.1M
591
Permanent supportive housing
341
Rapid rehousing
181
Homeless prevention
$772,765 Donations
$566,682 2,837 Clients served
Grants awarded
$1.4M Assets
“ We are grateful to our board of commissioners, partners, and employees for helping us make a real difference in the lives of people in Idaho communities. It took many team members sharing our vision, carrying out our mission, and working tirelessly to achieve this impact in 2015.” – Steven R. Keen, IHFA chairman Gerald M. Hunter, IHFA president and executive director
“ It’s exciting owning our first home. The information we learned through the Finally Home! homebuyer course was educational and helped us get down payment assistance. It was nice being able to keep some funds in our savings as a nest egg for future expenses.” – Abel, homeowner
“
“ The FSS and HOPES programs helped me achieve my dream of homeownership and self-sufficiency. As a young mother, I never thought that I would be able to make it on my own, but with the support and guidance of my case manager, I have accomplished so much.” – Rachel, FSS participant
“ The refinancing of the GARVEE debt will save the state $12.7 million over the next decade. This is additional funding that can be put toward restoring and preserving the state’s transportation network of highways and bridges.” – Brian Ness, director, Idaho Transportation Department
“As a privately-owned business we had been trying to expand but were out of options for the down payment. Working with Twin River National Bank and using IHFA’s Collateral Support Program pushed the project forward. With the expansion, we have hired six employees and plan to hire more.” – Jill Ball, office manager, Clearwater Medical Clinic
“ We were in desperate need of some affordable housing. The homes developed with assistance from Idaho Housing filled a real void for our workers in the community. They were completed very quickly and top-notch quality.” – Steve Bateman, mayor, city of Nezperce
Our Leadership
From left to right: Gerald Hunter, president and executive director; Steven R. Keen, chairman; Ralph G. Cottle, secretary–treasurer; Darlene M. Bramon, Mark P. Dunham, John R. Insinger, Jeffrey T. Nesset
Activate Treasure Valley Ada County Association of REALTORS® Advocates Against Family Violence, Inc.* Aid for Friends* Alternatives to Violence of the Palouse American Association of Service Coordinators American Red Cross ARMA International - Boise Valley Chapter Asian Real Estate Association of America - Idaho Chapter Association of Idaho Cities Bannock Youth Foundation* Bingham Crisis Center* Blackfoot Chamber of Commerce Blaine County Housing Authority* Boise Metro Chamber of Commerce Boise State University’s MBA Mentor Program Bonner County Homeless Task Force Building Contractors Association of Southwestern Idaho Building Owners and Management Assn. (Boise) Business Professionals of America - Idaho Chapter Caldwell Board of REALTORS® Caldwell Chamber of Commerce Canyon County Habitat for Humanity CATCH, Inc.* Catholic Charities of Idaho* CLUB Inc.*
Idaho Housing has contributed $2.1 million to organizations statewide in the past three years. Our financial contributions, volunteer efforts, and participation have helped these organizations.
Coeur d’Alene Chamber of Commerce College of Western Idaho Community Development Council Corpus Christi House* Crisis Center of Magic Valley, Inc.* Dress for Success Eagle Chamber of Commerce Eastern Idaho Community Action Partnership* Elmore County Board of REALTORS® Family Care Center, Inc.* Family Promise of Lewis Clark Valley* Family Promise of North Idaho* Family Promise of the Palouse* Family Services Alliance of Southeast Idaho* Greater Twin Falls Association of REALTORS® Home Partnership Foundation* Homeless Management Information System* housingidaho.com* Idaho Affordable Housing Management Assn. Idaho Association of Commerce and Industry Idaho Association of Counties Idaho Association of Mortgage Professionals Idaho Association of REALTORS® Idaho Building Contractors Association Idaho Community Bankers Association Idaho Community Choices Committee Idaho Fair Housing Forum* Idaho Falls Chamber of Commerce
Idaho Falls Rescue Mission/ Family Care Center* Idaho Hispanic Chamber of Commerce IDAHO, Inc. Idaho Main Street Partners Committee Idaho Mortgage Lenders Association Idaho Nonprofit Center* Idaho Rural Partnerships Board Idaho State Bar Association Idaho Youth Ranch* Interfaith Sanctuary Housing Services, Inc.* Jubilee House* Lemhi County Crisis Intervention* Lewis Clark Valley Chamber of Commerce Lewiston-Clarkston Partners Habitat for Humanity* Meridian Chamber of Commerce Mini-Cassia Chamber of Commerce Nampa Association of REALTORS® Nampa Chamber of Commerce National Association of Home Builders National Association and Housing and Redevelopment Officials - Idaho Chapter National Association of Hispanic Real Estate Professionals - Idaho Chapter National Council of State Housing Agencies
In 2015, Dave Wilson retired from the board of IHFA. Appointed in 2004, he served as chairman from 2009 to 2015. IHFA is grateful for his many years of service.
Neighborhood Housing Services* NeighborWorks Pocatello* Oneida Crisis Center* Organization Assisting the Homeless Student* Pacific Northwest Regional Council of NAHRO Philanthropy Northwest Pocatello Chamber of Commerce Ramp up Idaho Sandpoint Chamber of Commerce Snake River Valley Building Contractors Assn. Sojourners’ Alliance* South Central Community Action Partnership* SouthEastern Idaho Community Action Agency* St. Vincent de Paul North Idaho* Statewide Bike & Pedestrian Advisory Committee Supportive Housing and Innovative Partnerships The Advocates* The Good Samaritan Home* The Jesse Tree of Idaho* The Salvation Army Lewiston The Salvation Army Treasure Valley* Toys for Tots Foundation Twin Falls Chamber of Commerce United Way Victory House* Western Idaho Community Action Partnership* Women’s and Children’s Alliance Women’s Council of REALTORS® *Denotes monetary support from Idaho Housing
Boise Headquarters P.O. Box 7899 (565 W. Myrtle Street) Boise, ID 83707-1899 208-331-4700 855-331-4715 TDD Hearing Impaired: 800.545.1833, Ext. 400
Coeur d’Alene Branch 915 W. Canfield Avenue Coeur d’Alene, ID 83815 208.762.5113 866.621.2994
Idaho Falls Branch 506 S. Woodruff Avenue Idaho Falls, ID 83401 208.522.6002 866.684.3756
Lewiston Branch 215 Tenth Street Suite 101 P.O. Box 342 Lewiston, ID 83501 208.743.0251 866.566.1727
Twin Falls Branch 844 Washington Street N., Suite 300 Twin Falls, ID 83301 208.734.8531 866.234.3435 Connect with us: